Based in Ontario, I need some advice regarding a situation with Cash 4 U. I was fully up to date with my payments, but they didn’t withdraw on the agreed date of Oct 22nd, even though I sent them multiple email reminders To withdraw funds.

They then responded to October 25th but they didn’t withdraw it until October 29th. I’m a single parent on EI, so my budget is tight, and I couldn’t handle double withdrawals. They did take out the next couple of payments this month on November 5th and 19th biweekly payments, they still sent my file to a third-party collections agency!! How is this legal?

Is this allowed? Can they send my file to collections when the missed withdrawal was their error and not mine? Any advice on how to handle this would be appreciated. Anyone here a finance lawyer?

Thanks in advance!

I'm currently with Fido, paying $25/month for 20GB with 1000 international minutes. No phone is financed. I barely use more than 6/7 GB per month, and international minutes aren't an issue. I have searched online for a better Black Friday deal, but I didn't find anything less than $25. I'm trying to bring it down even more. Has anyone found anything cheaper than $25 with at least 10GB in any mall/physical store this Black Friday? Edit: I'm from Toronto

I’ve read estimates of Canadians spending anywhere between 675$ to 2 thousand!

Basically Title, have you tried MooMoo for US Stocks and Options Trading from Canada? I watched the Canadian in a T-Shirt's comparison video, and they seem to have the lowest fees amongst Wealthsimple/Questrade and other Brokerages. Would you recommend a Registered or Non-Registered account, and would it be better than other counterparts? For context, I am 17 years old and would use it under my dad's name. I will start with a principal of 7,006.25 CAD or 5000 USD. Let me know in the comments if you have any experiences or thoughts!

If I subscribe to a service for investment advice such as Savvy Trader for the purpose of buying or selling securities, can I claim it on my tax return on Line 22100 – Carrying Charges and Interest Expenses?

My reading of this publication (Fees Paid to Investment Counsel) indicates that I can. Hilighting below is mine.

https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/it238r2/archived-fees-paid-investment-counsel.html

1. Paragraph 20(1)(bb) allows a taxpayer to deduct fees, other than commissions, paid for advice on buying or selling a specific share or security by the taxpayer or for the administration or the management of the shares or securities of the taxpayer. The fees must be paid to a person whose principal business is advising others whether to buy or sell specific shares or whose principal business includes the administration or management of shares or securities. A person is defined in subsection 248(1) to include any body corporate and politic.

I'm looking into open an institutional account for my sole proprietorship business, should I choose Corporation or Business Trust in the Organization Type in the application?

I failed to find information regarding actual RRSP gains, including all fees, just the amount one would actually see accumulate in their RRSP account. I had RRSPs which never gained any profits, mainly due to high fees charged by the bank. Is there a reason that there seems to be no information on the actual profits, or lack of, that canadians saw from their RRSPs? the bottom line? The illustrations they use to sell you the funds never seem to reflect reality.

Anything out right now that people should be aware of or considering?

I have a vacation to pay off (we’ve paid deposit) for about $10k and I’ve been looking for options if I should consider changing my rewards card. Currently just getting 1% cash back for this from my visa dividend.

TD Aeroplan didn’t have any additional deals or anything but thought maybe someone here would have stumbled upon some good Black Friday / cyber Monday deals and incentives.

Aside from the travel rewards, has anything else caught your eye in the skate of credit promotions?

FP&A professional making ~CAD 105K per annum, monthly expenses totaling ~CAD 1K excluding rent (no car), currently banking with BMO and Scotiabank. I have 2 credit cards right now BMO world elite mastercard and the Scotiabank Passport Infinite visa, Annual Fees for both are waived. I put most of my day to day expenses on the BMO and travel on the Scotia (long haul once a year overseas and usually one work trip to the US annually). A colleague recently got the Amex cobalt and it piqued my interest but I'm debating whether or not I would be getting value for money since it has AF of ~CAD 150. Looking to gather insights on what others have been using and if it makes sense given my situation. Cashback from the BMO barely moves the needle so got me thinking. Thanks!!

Her parent gifted us little over a million (~1.3million) to start our life. We are in our late 20s making solid income with good stable jobs recently relocated to Vancouver. We love it here and was considering to use the money on our first home. However, I went down the rabbit hole of VAN RE and real estate in general and I’m not so sure if we should purchase and or continue to invest and rent (our rent is about 1800) currently. Would love to hear what folks here think.

More context: We would like to grow our family and plan to have a child soon/early 30s. Hence, the initial plan to purchase RE.

My plan is to open a RRSP once I max out the TFSA.

The TFSA is currently 100% VFV and not looking to change that (unless anyone can suggest why that's a bad idea?)

However, what ETF's should I consider for the RRSP when that time comes around? Should I be looking at something that doesn't overlap too much with VFV? Get more exposure to the international markets instead of just the S&P 500?

33 years of age and everything i'm doing is for the long term (30+ years)

We are leaving Canada on December 31,2024. Can we mention that date in our normal tax return due April 30,2025. We don't have any assets in Canada which will attract departure tax. Is there any other return or form we need to file. Can someone please share some insights on how to approach in such situation. I am aware that we will be considered tax resident for FY2024, but by mentioning the departure date in the T1 return will we automatically be considered as non resident for Fy2025? Thank you!

I went through a divorce this past year, 1 kid (10) had to sell the house and liquidate my TFSA to cover splitting our equity etc.

• Salary: 220k in Ontario
• RRSP: 450k
• TFSA: 15k
• Stock options: ~1.5m private company that should IPO soon.
• Renting / no debts

Biweekly I’ve been contributing the following amounts which is about the max I can do for the near term:

• RRSP $500
• TFSA $1000
• RESP $100

I have unused contribution room in my RRSP of about $80,000 and about 100k in my TFSA (from cashing out).

Wondering if my balance between TFSA and RRSP is ideal for my income level. Short term goals are to get my TFSA maxed out again, and eventually buy a home. I’ve been hesitant to over commit to RRSP as I’m expecting a payout from the tech company I work for in the form of options in the next 2-3 years and thought the additional space would be useful at that time for tax purposes.

Thank you

Hey there! I've been off my full time job all month due to surgery, but have been able to continue with my part time job due to the lesser physical demands. I was probably at my part time 2 weeks after the surgery.

When I do my reporting, put in my earnings, etc, Am I to put yes, no, or leave blank on the"ready willing and able" to work page? Do I put illness/injury or "other". I worked every sunday 10th, 17th, and 24th. Then 1 or 2 days during one of the weekdays. I'm going to assume I need to put I was NOT able to work monday to friday, as Im away from the full time job.

Like I was NOT able to work at my full time job, but I COULD work 1 or 2 days at my part time because it was safe for my body to be there.

Called service canada, they said it was okay. BUT I don't remember what the agent said to me on HOW to put it in my reporting.

What are the best deals around this year that support Canadian institutions?

Currently not using anything and would like one with a mobile app and web UI, and "couple friendly". We tried the spreadsheet route but couldn't stick to it.

Appreciate any suggestions, thank you and happy holidays ✌️

Hello I have been pre-approved for a credit card that offers a 0% balance transfer which would help me as I have credit card debt. But I saw in the terms and conditions that if I accept they’ll do a hard check on my credit report. Just trying to find out if this is always the case? My other card is carrying a high balance so my credit score isn’t great so I think I’d probably be rejected if they did a hard pull and I’d like to avoid an inquiry. Thank you.

Hi, my partner's family has some land in another province that was valued at 500k 10 years ago. He's been tasked with selling the land by his parents. The problem is that both he and I have no idea how to sell land. We just bought our first home a coupe of years ago and have never participated in the selling process at all.

The land is currently empty but is zoned for single family and town houses.

My questions:

1. Is selling land any different than selling a house?

2. Should we get a real estate agent or something else?

3. Given that the land is zoned for housing, is there any way we could work with a development company / sell directly to a development company?

4. One thing we were considering is having some sort of sale to a developer where they get most of the land but build a couple of houses and we get to keep 2 lots and 2 houses and the developer gets a discount, but I have no idea if this is a thing or how it works.

5. Do we need to be in the province to sell the land or can we do it virtually?

6. How do we get the best price?

Any advice on how to get started would be great! Especially if you have ever sold land before, advice is much appreciated.

Is it really worth having one? should I just put all my savings into my TFSA at this point

I am with CIBC (I know) and their “high interest” savings acct is like 2.7% with conditions. I kind of hoarded all my money into my savings acct and was making decent interest monthly on it but that amount has changed now due to buying a car.

I am able to save about $1000/month and wanting to make the best of it.

What do I mean.

I know when I file my taxes I get a notice informing me of my most up to date TFSA contribution limit.

If I make no more contribution to my TFSA from now till next year 2025 when I file my taxes and the CRA informs me of my contribution room. That figure that the CRA gives me should be my limit right?

I'm asking because I may have gone over this year, I didn't keep good track of my contribution so I have no idea how much I put in. I just pulled half out and hopefully that's below.

Will an R7 show up in your credit report if you’re in a DMP by any chance? Or what will they put on the credit report?

I’m 19, currently in my second year of university, and planning to graduate with roughly 15k in student loans. My goal is to pay them off within six months of graduating. I currently have a job that pays $20+ per hour. I’m planning on staying long term or till I graduate.

I’m looking to start investing now to build up some savings for when I graduate. Are there specific stocks or types of investments that would help me grow my money within this timeline?

Would love advice on where to start, what to research, and any tips from people who’ve been in a similar situation!

Thank you in advance!

Hi all,

Doing this under a new account, though I have nothing to hide. The TLDR is; We hired Best Roofers & Renovation. They did come to do some work, but it was all implemented incorrectly. Now they refuse to respond and have taken $17,000. Turns out these 3 Irish men and their Mexican laborers are known scammers in the GTA with several police reports filed. Only talking about their ethic background so that you can easily spot them as they have changed business names and phone numbers in the past.

We've been getting quotes from other companies. A couple of them knew who these guys were immediately. They both said "Three Irish guys?" before I even gave their name. They typically prey on the elderly. Often don't finish jobs, but never do them correctly.

Not really sure what else to do. Even if we win in small claims court are we going to get money back? If anyone is familiar with these situations and wants to provide advice we would really appreciate it.

The setup:

• The basement started taking in water from the ground after the heavy rains in August.
• We found Best Roofer & Renovation on Home Stars.
• Their price was in the middle of 3 quotes.
• They showed up suspiciously quickly. Lots of pressure to sign the contract and start the work, which we wanted to do because the basement was taking in water. It was also a super busy time for contractors of this type and several others we contacted didn't even get back to us.

Ineffective work:

• August 17, just 2 days after they took the remaining payment and provided the warranty it rained again.
• The basement got wet in the same spot and sinkholes formed. Best Roofer & Renovation was notified the same day.
• It took almost 1.5 months for their laborers to come September 26 after several texts and phone calls. There was evidence that they mixed cement in a bucket (that they took from a neighbors garbage). Nobody has been able to explain what was done that day. Gravel was raked into the sinkholes.
• By October 29 it had rained again and the basement got wet in the same spot. Best Roofer & Renovation was notified via email and asking what the next steps are. They have responded by text 5 times in the past 30 days with various things like "be there tomorrow, lost my phone, I'm on a roof".
• November 25 the basement continues to get wet when it rains and the sinkholes continue to worsen. Worried about mold forming, Best Roofer & Renovation was notified that it has been two additional months since they have last tried to resolve the issues that persist. Because it has been over 2 months since their last attempt we will have no choice but to ask for reimbursement or take legal action if they don't make reasonable attempts to resolve the issues by December 1. 
• They have not responded since November 21.
• Until December 1 I contacted them daily in a polite way trying to make sure they got the message that our preferred solution is for them to resolve the issue amicably.

Shoddy work:

• When the ground was dug they said there was a structural issue at the rear corner of the house that would cost $10,000 to fix. They said the work would be fully documented and warrantied. They each said it was fixed in 1 day, but I was at a conference the entire day and didn't see what they say they did. They couldn't provide any photos evidence, even though they said they would send photos and a diagram.
• Their contract says that the space would be fully cleaned. They left concrete dust on everything, 4 large piles of soil, 2 piles of rubble. After telling them the condition of the yard is unacceptable they spent an hour with the hose and our broom (the laborers were dropped off without supplies). We still spent 4 hours removing the dirt, rubble, and otherwise cleaning the backyard. Now I'm surprised they did anything at all.
• According to contractors who have quoted us on fixing the issues:
  • The blue waterproofing membrane has not been attached to the house, and should be.
  • The plastic waterproofing membrane was installed backwards, and also not attached to the wall.
  • Sinkholes are normal in these circumstances, however they do eventually stop. The ground needs to be pounded every ~4 feet of depth. This was done once and at the top.

Hello everyone, I'm looking for some solid financial advice because I cannot seem to math out my best strategy moving forward. I'm hoping someone here can lend an ear and help me move forward financially.

I suppose I'll list as much pertinent information below so you can get a clear picture of my finances.

So, I have personal unsecured debt:

$6400 personal loan at 7% interest I pay $142 biweekly, approx. $119 goes to principal

$2000 visa card at 11.99% interest Minimum payment is approx. $40/month

$5000 line of credit at 10% interest I pay $100/month and approx. $50 goes to principal

$1400 owed to the CRA

Total debt load is approx. $14800 CAD

I recently separated from my spouse and left her the house and got $15000 from the "buy out" sitting in a savings account.

I work full-time currently making $28/hour, and am renting an apartment. I'm 40, have no life insurance currently, health benefits, or retirement savings, or investments. I have $1000 in my chequing account, and I own a piece of poo of a vehicle but it gets me from A to B.

My monthly expenses are:

Rent $1350 Gas $200 Groceries $200 Car and tenant insurance $100 Cellphone $30 Spotify, Netflix $25 Loan $284 Line of credit $100 Visa $40 Spending $200

Total monthly expenses = $2529 Total monthly income (approx.) = $3200 Monthly balance (approx.) = $671

So looking at all the above information, I'm not in dire straits (mad good band) and I'm sure I'm in a better situation than some...but I don't know how to move forward!

I hope to be able to buy a house in the future, say 3 to 4 years...some crap shack that needs to be fixed up, but nonetheless.

I would like to purchase term life insurance in the near future and will have to pay monthly. I would also like to save for the future - a down payment for a house, and for retirement because I have nothing saved for that.

I've heard of the snowball and avalanche method of paying off debt, but I cannot for the life of me figure out if I should just pay off all of my debt with the $15000 I got from my separation, some of it, or just keep the $15000 in my savings account and continue to pay off my debt monthly, pay my minimums like I have been doing.

How do I make the best decision financially moving forward?

If I pay off my debt I won't have those monthly payments that I can put towards savings and could potentially save $800-$1200 per month. In this situation I have no money saved for an emergency other than the $1000 in my chequing account, but my savings would increase monthly so in 6 months I could have a decent emergency fund saved.

If I pay off some of my debt, for example, my visa, cra, and my line of credit I would "save" $140ish per month but would cost me $8400 to do so. I would still have $6400 owing to my loan, and still paying $284/monthly.

Do I just pay everything off and start from scratch and hope for the best? Do I try to forget my debt and make a repayment plan that works but keep the $15000 in my savings account?

Is savings better than paying off debt? Is paying off my debt a better choice!?

I'm lost in what to do and...if anyone has some good advice I would deeply appreciate the help!

I am but a lowly dummie, that messed up my life in my 20's and am trying to figure out the best financial route for my future.

Thanks for listening!

Hello friends,

I am planning on booking a family trip next week that will cost roughly $11k CAD. I was planning on using my TD First Class Travel Visa for the points, but I was wondering if I could leverage getting a new credit card to take advantage of the promotions.

Any advice on some good promotions to take advtange of? My TD card is my main card with decent perks, but I am open to getting a new "primary card".

Appreciate the advice!

I don't really have a big choice as I'm on a 2 year contract through to boxing day, so I'd have a fee to cancel right now. But I'm trying ro understand if costs are generally comparable or not between the two. Trying to budget what I can expect. Thanks!

Is there a simple document, a picture or a graphic, or a 1 page cheat sheet to help a novice (25-30 yr old) understand the different buckets of money, length of investment, AND in particular the TYPE of investment?

This person isn’t going to read a long document or study investing so I thought a graphic might be good.

EDIT: They have registered accounts but I think they have made a dogs breakfast out of the investments. Their FHSA is sitting in cash, but I guess the tax deduction is good. THEY have a really good job NOW AND LOW EXPENSES, but are only putting $50 a month (this was set years ago) in a TFSA mutual fund with high fees. They save a ton of cash in a no interest bank account and then dump it in a registered account. This person is worried about losing capital and is getting such low interest on things.

1. FHSA - up to 15 years. Safer investments (which ones?) to keep from losing house down payment.

2. RRSP - super long term 20-30 years. Growth (??) investments

3. TFSA — is this long term too??? Is this index funds?

4. Other downpayment money - not in registered accounts

5. Emergency fund - cashable GIC or high interest bank account

Also is there a simple graphic which shows the whole MER at 2% is too high and how lower fees actually makes a difference? This person is in mutual funds which is better than nothing but not great.

I’ve been googling and haven’t really found what I’m locking for.

I got a letter that my accountant is retiring, which is good timing because my situation has changed and I was planning on filing my own taxes going forward (I am a sole proprietor but I'll be working a lot less and also have normal employment now so I'll have very little expenses to write off. I'll basically be making like 10% of the self employment income I was previously making).

I'm thinking ahead, I know it's not tax season yet, but I'm just wondering which return makes more sense to do first ? Do I need any amounts from one return to put onto the other? It seems like a simple question but I'm having trouble finding the answer to it.

in 2 weeks + another 2 weeks to see money in my bank account ...

I'm low on cash and can't afford rent, might have to live in my car during the waiting period.

All I can think of is call my bank and ask for an increase in overdraft protection, or apply for Ontario Works(?), I'm not sure how long will it take to receive the money if I apply by Monday though...

any advice, appreciated.

Hello, I am looking to purchase a condo and I want to get all the advise and resources I can. I’m looking for a 2bedroom, 1 bath condo in Alberta, max price 250,000. My budget:

20000 down payment 12,500 closing costs (5%) 3 months of emergency costs

I will be splitting costs with my partner, but purchasing alone as we’re not married. My income is 80k plus a 20% bonus. I have had a fhsa for 1 year maxed.

We’re currently renting for 2000 a month, and I hate our current rental. I owe 15k on a car loan with monthly payments of 410. My hope is to purchase the condo, and live in it for 5-8 years while saving for a small townhouse. Is there anything else I am missing? I’ve used the mortgage calculators and mortgage qualifier tools to make sure I’m hitting the correct ratios. How do I go about making sure I’m not making a big mistake. I also made sure I can afford the condo by myself in case anything goes sideways.

Any advice is appreciated!

If u had a 3k limit and accidentally charged say 5k could it go through ?

Does anyone know specific amounts cc in Canada can go over limit

also on LOC if anyone knows