Sunday Link Love: April 3, 2011
From Dream Home to Nightmare Debt
My favourite financial personality, Gail Vaz-Oxlade has a new show coming out called Til Debt Do Us Part: Home Edition. I am so excited for this new series because it’s exactly what’s been on my mind for the past few weeks. Here is the blurb about the show from HGTV:
Home ownership is one of the biggest and potentially rewarding financial commitments that a couple can make, but there are thousands of homeowners who are now questioning their decisions and financial expert Gail Vaz-Oxlade is here to help. This season of Til Debt Do Us Part focuses on couples and families who are struggling financially with the challenges of home ownership and facing a conflict when it comes to managing their money while keeping a roof over their heads.
The show will appear Tuesdays on HGTV at 9pm ET/PT starting on April 5th (that’s only a few days away!)
Around the blogosphere
- Globe and Mail columnist Preet Banerjee tells us how it is: It’s up to you, not Ottawa, to improve your spending habits
- BibleMoneyMatters posts a great YouTube video on the Financial Blogger Conference
- Money Rabbit quit her job and took one that pays significantly less - in order to be happier and make more money in the future
- A few days ago, it was Ninja’s blogging birthday over at Punch Debt in the Face.
- Austin contemplates and analyzes how much home he can afford
Not quite PF-related
I’m sure most of us have seen this video of Stephen Colbert covering the song “Friday” by Rebecca Black. Well, here it is again in all its glory.
Blast from the Past
I’m going the Moneyville route today, since my mind is on buying property. It’s not exactly a “blast fromt he past” because they’ve all been written in the past 6 or 7 months. But when I was looking into previous articles I’ve written on this blog about home ownership, none of them really said anything, except to highlight how high real estate prices are here in Vancouver or in Victoria. Anyway, here are 4 articles that you might find interesting if you too are looking to purchase your first home:
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I remember reading your article on using your RRSPs for your first home. I wish I read something like that a few years ago. When I was done school, I was hesitant to open up an RRSP account. I had a lot of unused tuition money and I wasn't making enough to owe the government money so I decided to stash it away in a savings account and then moved it to TFSA when it was launched. It wasn't until I became serious about buying my first home that I started putting money away in a RRSP. That was only 6 months ago. I'm planning to purchase by the end of this year so I probably won't have enough in there to max out the $25,000. But my boyfriend and I should be able to put down the 20% as we planned. Good luck with your home purchase. I look forward to reading more about your home buying journey!
When I first started saving for a home, I was really struggling with whether I should commit my down payment into my RRSP, or if I should have it in a savings account instead. In the end, I'm glad I went the RRSP route because I could reinvest the tax refunds back into my RRSPs, and I built up my down payment a lot faster than I thought.
Good job on being able to save the full 20%! It's a hard thing to accomplish for sure.