Time again to show some recognition for great articles written around the blogosphere this week.
- Blueprint for Financial Prosperity, a very popular pf blog, has taken the time to interview yours truly. Thanks Jim for the opportunity!
- Big news for variable rate mortgage/loan holders! The Bank of Canada has decided to drop interest rates by 0.50%! What does this mean for you? If your loan is at prime, your interest rate has dropped from 5.75% to 5.25%. If you have a discounted variable rate mortgage, say prime – 0.85%, then your mortgage rate just dropped from 4.9% to 4.4%!
- Canadian Capitalist answers a few questions regarding the TFSA as to where to invest your money. Is the TFSA better than a RESP or RRSP?
- Four Pillars writes about if the RRSP is still worthwhile. Again, this article will look at the effectiveness of the RRSP compared to a TFSA account.
- Thicken My Wallet has a great article on the art of negotiating and how to do it properly.
- Financial Blogger writes about if Canada is facing a recession.
- Canadian Dream does a book review of Rich Dad Poor Dad. Speaking of which, I will be doing a book review of Kiyosaki's latest book on "Financial IQ" in the coming weeks.
- This weeks Carnival of Personal Finance – The Homeless Edition was hosted by The BagLady. MDJ submitted the article "8 Things to do Before Closing on a Home."
- A private bill has passed commons that could potentially give parents a tax break on their RESP contributions on top of the current RESP benefits! The tax benefits would work similarly to the way that RRSP's work. That is, contributions (up to $5000/child/year) would be tax deductible against the parents income. The amount taken from the account for future education would be taxed in the hands of the student. If this bill actually passes, it would be the ultimate way to save for your child's education.