Give Me Back My Five Bucks

I was thinking yesterday, is it a smart move to pay off my debts as fast as I can? Should I be saving more aggressively for my condo down payment? Every pay cheque, after taxes, I make around $1,500. Currently $1,000 goes towards my debt, $50 goes towards my RRSP, and whatever is left goes towards my condo down payment fund after I’ve paid off all my bills and expenses. My plan is to put at least that $2000/month into my condo fund as soon as I finish paying off my debts. But, it occurred to me yesterday – is … Continue reading →

I wish I knew 5 years ago that I’d want a condo eventually. I really wish I had thought things through. Planned ahead. I wish I had saved up a ridiculous amount of money, so that when I did get to the stage where I could actually afford mortgage payments, I’d be okay with the 25% down payment to avoid that nasty default insurance. But, I didn’t. So here I sit, 24 years old, twiddling my thumbs and frantically trying to save up money as fast as I can. I wish I were like my sister. For some reason she … Continue reading →

I’ve been wondering if I’m making sound choices with my investments. I want the most “bang for my buck,” but with limited investment knowledge, it’s hard for me to grasp exactly what I should be doing. My emergency fund is currently in a PC Financial Interest First account that’s earning 3% interest. Once I have over $1000, I will transfer the balance into the Interest Plus account, which will earn me 4%, plus an anniversary bonus each year I keep a minimum of $1000 in the account. The reason why I chose this account is because it’s highly liquid. I’ll … Continue reading →