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Angora posted:I'm curious if someone in my situation should start/continue to invest in the stock market, or if what I'm doing is a poor decision. It really depends on when you plan to sue if the money. If you want to use it when you get out of grad school, which is presumably under 5 years, the market isn't really an appropriate place for it. Having all your money in one company isn't particularly wise either. Any reason why you plan on selecting companies as opposed to just using an index fund or even a managed fund?
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Feb 3, 2010 21:29
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waffle posted:So I guess this is a good thread to ask this question in--The rates for apartments in my complex have plummeted since my girlfriend and I moved in (We pay $750/mo, nowadays the same apartment is roughly $575/mo). How much does it cost to break the lease? If you wouldn't save money by breaking the lease, you don't have much leverage.
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Feb 13, 2010 20:10
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Kobalt posted:My main debt is a 12 year old credit card I've had with Wells Fargo for ages. I scrimp and save, get depressed, blow money, do it again. It sounds like some therapy could really help you a lot more than just a plan based on financial numbers.
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Mar 2, 2010 20:58
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Kobalt posted:Spending is therapy. Much like cutting, it's not really a healthy coping mechanism.
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Mar 3, 2010 04:43
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ch3cooh posted:Rent: $640 Holy poo poo. You pay way more for your car than for where you live.
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Mar 30, 2010 06:50
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mike fictitious posted:Here is my plan. Please pick it apart (or tell me to go to another thread). Doesn't sound a like a bad plan, but check out the investing megathread to get some help with avoiding lovely/high-fee mutual funds.
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Apr 7, 2010 00:35
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It looks like the area I want to live in will require me to stretch a bit on rent, so it's time to work out a budget. Net Income: $1250/2 weeks (for an engineer with 2 years experience. gently caress you alan greenspan) Expenses Car: $200/month ($100/month for insurance, $100/month for gas/maintenance since I won't be driving too much) Phone/Internet: $120/month Groceries: $300/month (Probably something of an over-estimate) Blow/other expenditures: $300/month That comes to 920, leaving (theoretically) 1580 for rent/utilities. I'm looking at places up to about 1250 (some of which include all utilities) which I think is reasonable. Any surplus would go into savings, which is doing pretty well at the moment so if I end up not saving much more than a hundred or two per month for a while that'll be fine. What do you think?
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Jun 13, 2010 18:48
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moana posted:$1250 for one person? Where are you living? Any chance of getting roommates to lower that at all? Vancouver. poo poo is crazy around where I work. And a roommate in a 1br would be a bit cramped and wouldn't really work for me. Anyway I have a pretty healthy retirement portfolio already (for my age, anyway) in addition to an emergency fund, so I figure that even if I end up making very few contributions for around a year it won't be much of a setback.
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Jun 13, 2010 21:02
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cowofwar posted:I'm Canadian and a student. Currently I'm saving some money each year but not making enough to be taxed. My current strategy is to max out my TFSA and to not put anything into my RRSP because I don't need a tax shelter and I don't pay a penalty if I need to pull out money from my TFSA in the future. Is this wise? Sounds like you have all your ducks in a row. You're right, in that the difference between doing GICs a a proper portfolio isn't all that big compared to how much you're able to save at this point. I use questrade. While they're the cheapest (IB is a bit cheaper for very active traders) their tools for viewing your portfolio/balances pretty much suck.
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Jun 26, 2010 16:49
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In small businesses where cashflow is often a problem, paying money later is always better than paying money now. Well, economically, that's always true for any person/business, but a cash-strapped small business is probably the only place you'd see it.
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Jun 30, 2010 16:38
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RaoulDuke12 posted:I was dreading that being the only solution. Unfortunately, living out in los angeles, you look like you're loaded when you drop a 3.5k check in the bank, but in reality, 3k of it goes into rent and basic living expenses. it's unreasonable to keep that much reserve on hand. Why is it unreasonable to keep that much in your bank account? Generally you should have an emergency fund that larger than that, and keeping it in your checking account vs. a high interest savings account isn't a huge difference in terms of dollars of interest per year.
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Nov 2, 2010 02:48
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Chernori posted:Hello fellow Canagoon! Here's a wall of text for what you need to know about investing in Canada (as far as I know, please do your own research and check with professionals!): You should crosspost this to the long-term investing megathread.
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Nov 6, 2010 16:13
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slap me silly posted:Dealer is a slimeball and you should just walk away, unless you are 100% sure you're knowledgeable enough to cover all the angles. At the very minimum, get your loan directly from the bank, sell your old car to CarMax, and then only discuss the sales price with this dealer so he doesn't have 30 ways to gently caress with the numbers. The dealer plays this game all day, every day. You will not beat them with a bit of internet advice. The smart thing to do is walk away. Generally, if someone tries to gently caress you on a deal, don't keep negotiating with the idea that you are just so goddamn smart that you'll also catch them if they try to gently caress you again. It's their home turf, they have the advantage, so walk away.
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Jan 8, 2011 21:02
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It's also pretty dependent on what kind of mutual funds are available. In Canada, the cheapest index mutual funds you'll find are a bit over 0.5%, and most are around 1% or over. This makes ETFs a better option, since canadian bond/equity ETFs are much more reasonable (like XIC at .25%) and you can just buy the vanguard ETFs for the international component.
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Jan 26, 2011 02:42
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kaishek posted:If you get an account with Bank of America, you can use their debit card to withdraw from Barclays ATMs in the UK for no fee, directly converting into pounds. Also, any HSBC savings account will give you an ATM card that will let you pull from HSBC ATMs, also no fee and direct conversion to pounds. Transaction fees aren't as much of an issue as the forex spreads, which will end up being a few hundred dollars a year.
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Apr 10, 2011 17:27
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mfaley posted:I recently got my first credit card at the ripe age of 25. I have a fair credit score due to a few large loans I paid off with no problem, but I want to round out my credit history so I went for a Chevy Chase Platinum Card and was approved instantly. Clearly a family trip to vegas should be your next move.
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Jan 30, 2012 21:24
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Zeta Buttforce posted:I don't think you will find too many gold bugs in BFC. It is an asset that pretty much did nothing between 1980 and 2005, and then it made a spectacular move upward. But it earns even less interest than your bank account, it is cumbersome to buy, store, and sell. You can't eat it, you can't burn it, you can't live in it. If the world ends, you will still be screwed like the rest of us. I don't doubt that the economy can collapse. I just don't think it will save you. We do have examples of advanced economies collapsing on a local scale. In New Orleans after Katrina and in Fukushima, Japan, no one was walking around with silver coins or buying cars with bars of gold. No one will here either unless you are another presidential candidate. Warren Buffet recently wrote a pretty good letter about this: You can fondle the cube, but it will not respond.
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Mar 27, 2012 18:19
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Robin Sparkles posted:I'm sorry if I missed it, but is there a free credit report for Canadians? There is. You want to request a "consumer disclosure" from equifax and transunion seperately, both of which you can do over the phone in most cases. Just go to each website and find the number. If the phone method doesn't work, you can also mail/fax in a form. Either way, they'll mail you a full credit report showing everything except your score.
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Apr 15, 2012 23:07
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kaishek posted:I hate that I'm even thinking about this, but strategic default might not be a terrible option in this case. I'll let someone yell at me for suggesting this, but essentially you let her take on the debt, then declare bankruptcy. They might want to hold up for a while on bankruptcy to save it for a larger medical expense, and there might be some kind of deposit required for the surgery, but otherwise it doesn't sound too unreasonable. The US medical system is basically a broken moneypit that a variety of wealthy interests are unwilling to fix, so in my book paying/not paying are about the same, ethically.
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May 3, 2012 20:35
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psydude posted:The only place I will always use my credit card is bars and restaurants, because when it gets copied by a bartender or server (and it eventually will) at least it's the bank's money that's tied up and not the money in my checking account. You could apply this to a lot of retailers though, since a lot of brick&mortar retailers have had their credit card databases stolen in the past few years.
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Dec 31, 2012 22:36
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Lexicon posted:Oh ok, yeah, there's no form yet on the account (TD eSeries) but I assume that'll get generated eventually. Really they should be auto-generated on January 2nd as far as I'm concerned - it's not as if they require any human intervention (or should require any human intervention - I suppose given the rube goldberg machine the banks run behind the scenes, I wouldn't be surprised). Just to cover this stuff in more detail: You pay capital gains when you sell an asset, and you pay on the gain which is calculated as the selling price minus the adjusted cost base. Your adjusted cost base is the average buying price (hopefully they calculated this for you, otherwise have fun making a spreadsheet of all your weekly purchases) minus any return of capital (ROC) for that asset, which is essentially when, for whatever reason, the fund gives you back some of your own money. This ROC amount will be listed on your T3 (as a special box 42) if there is any and will probably only be like $3 anyway so you can almost ignore it. Note that you don't input the ROC anywhere on your tax return because they don't care what your adjusted cost base is until you sell. Also on your T3, they will list (along with dividends and stuff) some capital gains accrued by the fund while they did their buying and selling. Even though you never even saw this happen or saw the cash, you still have to pay tax on this since they did it on your behalf. As with anything, just make sure anything in a box on your T3 ends up in a box in your tax program somewhere (aside from ROC< although most will let you put it in to store it). Also T3s are sent out super late so you get to wait until April to do your taxes. One last fun fact: When you move a security from a taxable/cash account to a TFSA or RRSP, for tax purposes, you're considered to have effectively "sold" the security and will have to pay capital gains tax on it if it's gone up in value. Although apparently if it's gone down in value you don't get to use the loss because gently caress you that's why. Thanks CRA!
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Feb 1, 2013 21:16
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runupon cracker posted:This has left me, well, pretty angry and confused, and owing ~$4k in taxes that should have been remitted for me. I filled out TD1s, I put my signature on them, but apparently businesses don't need to prove that I asked for those (and only those) deductions. All I have for evidence are the amounts I received and that one PDOC printout. Should I continue fighting with CRA? Is this a civil matter now? Should I speak to a lawyer, accountant, what? Or am I pretty much hosed? A consultation with a lawyer specializing in personal taxes would seem to be a good bet, even if you aren't necessarily going to be taking legal action right away. Also, do you suspect that the discrepancy was just from poor record keeping, or instead from your employer embezzling tax money that he was supposed to be remitting?
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Mar 23, 2013 00:31
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antiga posted:First thing you should do if you win the lottery is tell no one, put the ticket in a safe deposit box, and go get a lawyer. Not an option for winners where I live. One of their rules is that the winner has to be announced with a picture of them and the big cheque, and they can't receive their money via a lawyer or trust or anything like that. There was recently a delay of almost a year in a big prize being claimed while a winner tried to find a way around that requirement, but in the end they had to let their name be publicized.
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Jan 8, 2016 22:09
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