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Roll Up the Rim: The Odds of Winning a Car vs Other Unlikely Events

Filed under: Bargains & Freebies, Food & Drink, Weird & Wonderful

Working from home, I'm generally not awash in the same cultural and marketing nuances that most people are subject to in their day-to-day lives. Maybe that's why the pervasiveness of Tim Horton's roll-up-the-rim contest was and is so striking to me: I left the house the other day, and traveled to another country, and still, there weren't many human interactions lasting longer than ten minutes, that didn't involve mention of those red paper cups, or what people had won (or not) in that contest.

Maybe my family and friends drink more coffee than average, but I don't think so.

This is not a lecture about the cost of take-out coffee and how it adds up over the course of a year. Instead, I was curious: Just what are the odds that you might actually win one of those grand prizes, and how do those odds compare to other lottery or gaming contests?

Tim Hortons has done a pretty remarkable thing here. Not only are they 'the talk of the town,' in virtually every single town with a franchise, but despite the contest's size, people seem to believe in their chances of winning - the contest feels smaller than it actually is.

One Size DOESN'T Fit All: Your Last Will and Testament

Filed under: Family Finances

Although the need for a will often comes up in lists of things to work on if you're interested in getting your affairs in order, powers of attorney usually don't make the cut as a topic of discussion...

Canada And Credit Cards: Our Habits, Our Vices And Our Debt

Filed under: Budgeting & Planning, Credit Cards, Debt, Family Finances, Real Estate

Perhaps you haven't heard, but the government is tightening up the mortgage requirements. Finance Minister Jim Flaherty announced last week that mortgage rules are changing. The federalCanada Credit card Debt government is reducing the maximum amortization period from 30 years to 25 years unless you're able to put down 20 per cent.

The Bank of Canada's Mark Carney supported the government's actions and issued another warning that Canadians are living on borrowed money and need to rein in their debt from a staggering $1.52 for every dollar earned.

We're living in a debt-ridden society and part of that reason is that we don't really understand how debt works. This includes credit cards. A recent poll from TD Canada Trust found that younger Ontarians (Ontario being a have-not province) aren't quite that savvy with their cards and digging themselves into debt.

Little Frauds, Big Frauds, Cost and Risk

Filed under: Consumer Complaints, Fraud, Identity Theft, Insurance

Have you ever bought a stolen car? Are you sure? If you leave your car or truck running unattended and it gets stolen, in addition to the insurance costs and headache, did you know that vehicle could end up financing terrorism?

It sounds extreme, but I kid you not, vehicles from North America have been used in car bombings, and export of stolen cars has become big business with whole shipping containers full of luxury vehicles with Ontario license plates turning up in places like Ghana and Lebanon.

And those are just the big, blatant cases that are making your insurance premiums soar. Back to that cheap car you found on Kijiji or Craigslist – how do you know for sure it isn't stolen?

Related:
Top 10 Stolen Cars in Canada
Why People Commit Fraud
Stories From the Insurance Fraud Capital of Canada

Stories From the Insurance Fraud Capital of Canada

Filed under: Consumer Complaints, Fraud, Insurance

insuranceIf you live and drive a car in Ontario, you've no doubt noticed your insurance premiums on the rise year after year. If you live in Toronto in particular, you've probably heard about or experienced that phenomenon in an almost accelerated way. (Our premiums dropped by more than half when we moved out of the city.)

You might assume that population density, the sheer number of cars on the road, is the main reason your premiums are higher. This is true, in part, but the big reason Torontonians pay more? They live in the staged collision capital of Canada.

The high and increasing number of staged collisions taking place in the city not only increases risk for people on the road there, but the fraud cost is passed on to consumers in the form of higher premiums, to some degree, whether you live in the city or not.

Cyber Security and You (A View of the Mountain From the Top of My Little Mole Hill)

Filed under: Fraud, Identity Theft, Technology

cyber securityThe whole thought of cyber security is an impossibly big one. I keep my anti-virus subscriptions current; I generally don't allow applications to access my Facebook profile and, if I'm lucky (and I pray I will be), I hope my trusty but aging laptop won't give up the ghost on a deadline day when things aren't backed up. That's about the extent of my concern on most days.

You might have a similar situation going on in your world. The funny (or scary) thing is, these concerns, this wee little tempest of risk in the teapot I call my own, is positively miniscule compared to the wide ocean of cyber-risk out there. Still, small, little insignificant me could make a mistake that would find my computer added to some network of machines out there, intent on bringing down a government (likely while I obliviously wonder why my service is so slow).

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'Tis the Season for Generosity, Creative Giving and Balance

Filed under: Shopping, Taxes, Holidays

It turns out we're still a nation of givers: According to Statistics Canada, the amount people gave to charity in 2010 rose 6.9 per cent compared to the previous year.

The total for that year came in at just under $8.3-billion. The number of donors increased too – the Canada Revenue Agency says just over 5.7 million reported charitable donations when filing their tax returns this year.

eBay Lesson #2: Price, Presentation, Persistence

Filed under: Employment & Careers, Entrepreneurship, Auctions, Small Business

eBayNot many people are brave enough to leave their financial service sector careers to pursue a life in online sales, but Myriam Barreiro did just that, with spectacular results. (Later on she tells us how she did it.)

Click here to read 'eBay Lesson #1' by Kate McCaffery.

eBay Canada's Entrepreneur of the Year used to work as a senior analyst in the technology department at one of Canada's big banks.

"It was a good, solid career job and I'm sure I could of continued on being successful, but I didn't like what I was doing," she says.

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Dollar Trees Growing in Canada

Filed under: Shopping

Dollar Tree in CanadaThere may not be such a thing as a money tree but there have been confirmed sightings of Dollar Trees growing in Canada.

When I wrote last year that the U.S dollar store, Dollar Tree had bought Canada's Dollar Giant, I wasn't sure whether they intended to turn Dollar Giant stores into Dollar Trees or simply open new Dollar Giants. However, I had missed a third possibility. As things stand at present, Dollar Giant will continue as is while the green Dollar Tree sign springs up across Canada. You'll see Dollar Tree mentioned on the Dollar Giant receipt and Dollar Giant's website address printed on the bottom of your Dollar Tree receipt.

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Ontario Announces $3B in Clean Energy Contracts

Filed under: Investing, Going Green

The Government of Ontario yesterday announced it has awarded $3 billion in contracts to about two dozen wind and solar power companies, enough to light up more than 200,000 Ontario homes.

The announcement sends a clear signal that the province's Clean Energy program (formerly the Green Energy Act) is here to stay, following a month of setbacks for the program

Month of Setbacks
At the end of January, Ian Hanna launched a legal challenge in the hopes of shutting down Ontario's wind farm industry, claiming wind turbines pose a health risk to those who live nearby. And earlier this month, about 1,000 farmers who sought contracts to place solar panels on their property were turned down because the province doesn't have enough capacity to connect them to the electricity grid.

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