canajunfinances

[canajunfinances]

Medical Expenses add Up for the CRA

Discover the tax implications of medical expenses. Learn how to maximize deductions and reduce your tax liability for the year 2023. #CRA #Medical #Expenses #Credit

I was in a quandary this year (tax year 2023) as I owed a fair amount of taxes. This was due to cashing part of an RRSP and not replacing the funds. I was hoping that various deductions might compensate, but I was mistaken. Naturally, I turned to my medical expenses for 2023. With this in mind, I turned to this year’s medical expenses (2023, that is). Even with two insurance sets, I sometimes…

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#Medical #Taxes #CRA

[canajunfinances]

#Retirement #Time #Death

[canajunfinances]

Cleaning up and Sunday's Best More from the archives, some of the finest from a while ago. #Archive https://www.canajunfinances.com/2012/07/15/cleaning-up-and-sundays-best 

 (via Cleaning up and Sunday's Best)

#Archive #CLeanup

[canajunfinances]

"All Sheep will be Fleeced; all Fools will be Punished Severely" What Hunter S. Thompson said, is very apropos for the financial service industry. Mutual fund fees, payday loans, overdraft fees, and service fees on everything are quite prophetic.#Gonzo #HunterSTompson 

#Gonzo #Thompson

[canajunfinances]

Fake Money News and other Manipulations Might be 8 years old, but still very topical, we didn't even have AI to write this crap back then. https://www.canajunfinances.com/2016/11/15/fake-money-news-and-other-lies/

(via Fake Money News and other Manipulations)

#fake new

[canajunfinances]

The Principal is always Your Pal.Paying down the principal of your mortgage is the most significant debt paydown you can make. I wrote this when interest rates were low in 2014. I mentioned doubling interest rates, so I told you so.#Principal #Mortgage #I#interest

#Mortgage #Principal

[canajunfinances]

Good list

Basic Financial Rules To Live By 💰✨

Create a plan that shows how much money you get and how much you spend. This helps you see where your money goes.

Set aside a part of your money as savings. Try to save at least 10-20% of what you earn.

Be careful with borrowing money, especially if you have to pay back a lot of extra money (interest).

Save some money for unexpected things like medical bills or losing your job. Aim to have enough to cover your living costs for a few months.

Put your saved money into different things that can make it grow, like stocks or real estate. Be patient, as it takes time.

Don't spend more money than you make. Stick to buying what you really need, not just what you want.

Decide what you want to do with your money, both in the short term (like a vacation) and long term (like retirement).

Set up automatic transfers to your savings and bills so you don't forget to save or pay your bills on time.

Make saving money a top priority before spending on other things.

Regularly look at your money situation, adjust your plan as needed, and see how your investments are doing.

Pay your bills on time and use credit wisely (like credit cards) to keep a good credit score, which can help you get better deals on loans.

Save money for when you're older and don't work anymore. Use retirement accounts to help with this.

Think before you buy things. Don't buy something just because you want it; think if it's necessary.

Keep learning about how money works and how to make smart money choices.

Only use your emergency fund for real unexpected problems, not for things you just want to buy.

#financial planning #finance

[canajunfinances]

Most investors get told they should get a Balanced Mutual Fund for safe but steady growth, but what are you paying in terms of MER or Management Fees? Why not buy an Index Fund or the like, an entire Index is also very balanced. Let's take the FUN for banks out of Mutual Funds.#MER #IndexFunds #Balanced

#Balanced Funds #Mutual Funds

[canajunfinances]

#Debt Free

[canajunfinances]

Risque Topics and Debt (visit to the Vaults) Some of my more provocative topics from well in the past. When you have been writing for this long you surprise yourself with some of the things you wrote.#Archive https://www.canajunfinances.com/2011/07/24/risque-topics-and-debt-visit-to-the-vaults/

#Risque

[canajunfinances]

Payday Loans: No, no, no!

Why use these services? By the time you are using it, maybe you should be considering either a consumer proposal or bankruptcy.

#usury ##paydayloans

https://www.canajunfinances.com/2007/04/23/payday-loans-no-no-no/

#Pay Day #Loans #Usury

[canajunfinances]

#Pay Day Loan #Bankruptcy

[canajunfinances]

Let's Go Buy Some Money Are pay-day loans better now that interest rates are higher? ARE YOU INSANE! Of course not.#usury #paydayloans

#Pay Day Loans #Usury

[canajunfinances]

I Spent How Much Last Week? Funny how things have gone up in price between 1988 and 2010. If I did this one again, I might be shocked even more?#Spending

#Spending

[canajunfinances]

Uncover the financial insights on my blog. From overcoming financial phobias to exposing banking service charges, my posts cover it all. The post March Money Madness appeared first on Canadian Personal Finance Blog .

[canajunfinances]

March Money Madness

What were my musings for March? Here is a list along with a couple of useful links to other good financial stories. Let us March On, financially! #Money #Finance #CarbonTax #ETF

My frenetic writing pace has slowed, but it hasn’t stopped. What have I been writing about? That is a good question. March Madness from Me Do you have Financial Phobias? I found this while spring cleaning this site. There are plenty of things to worry about when it comes to money. Effective Interest Rate of Service Charges a rewrite of an older post from about ten years ago. Why is anyone…

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#Money #Debt #Phobias #Spending #Budget

[canajunfinances]

Autism and Advice As with financial advice, sometimes think before offering your advice. Sometimes it is not received in the way you hoped. #Autism

#Autism #Advice