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2016

CRA Itunes Pmts, RESP Scams and #MoneyTalk

I am disturbed to read about a new scam being perpetrated by scum bags, who call unsuspecting folks and claiming that that the victims owe a great deal to the CRA and it must be paid right now. The scam is quite unbelievable if you hear it, but it has caught a few folks already. The CRA has a page for this specific type of scam, so please check this CRA Scams Web Site (by the CRA) and learn how to recognize this kind of scummy behaviour. The CRA are nice folk, but they are a government agency, have definite rules of conduct with the public, and can’t directly harass on the phone (I don’t think). Some simple hints that this is a scam:

  • Very aggressive behaviour, and demanding payment within the next hour. This is a government agency. Nothing happens in an hour (OK, most things never happen in an hour).
  • If they ask for a Credit Card Number or for you to “Cable” money, the CRA doesn’t do that (and they sure as hell do not do iTunes cards).
  • Tell you that you cannot tell any 3rd parties or the like. That flaming red arrow should cause you to hang up your phone.

Please, don’t be fooled or duped.

Staying with scumbags there were folks in Toronto that were contacting new Parents to try to sell them RESPs. Evidently Rouge Valley Health System had their patient personal info stolen, and this is where these folks got the info to contact the new mothers. Don’t buy stuff over the phone, if you didn’t ask for it in the first place.

Farewell to Canada AM which goes off the air today, after 43 years. The morning show format seems to be dying off, but I haven’t really watched Canada AM for a while (sorry guys).

Will Tragically Hip farewell tour tickets become the next Tulip Bubble for Canada?

My Writings for Week Ending June 3rd

A busy week for me at home, so only one new post put in place for the week.

Bad Financial Planners Can Help points out that even if you start with a terrible financial plan, if you review it, revise it and keep it up to date, you might end up with a very good plan. Remember any plan is a living thing, and will need to change with time.

A Money Thought

This hour has 22 minutes still continues to be funny, however, in this instance, I fail to see the humor of this (as a parent who has already talked about moving back in with your parents).

EQ Bank Savings Account
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Read More »CRA Itunes Pmts, RESP Scams and #MoneyTalk
Financial Planning

Bad Financial Planners Can Help

Bad financial planners can help even if they create a horrible plan. From a horrible plan, you may be able to create a better plan, but you need to know it is bad.

Money Tweets

Loose Money and #MoneyTalk

The Bank of Canada’s key overnight rate stayed at 0.50% this week, so nothing much will be changing in terms of interest rates for a while longer (it seems). The statements made are:

Commemorative and Polymer series $20 note / Billet commémoratif de 20 $ et billet de 20 $ en polymère
Some Mighty Fine Looking Money

In Canada, the economy’s structural adjustment to the oil price shock continues, but is proving to be uneven. Growth in the first quarter of 2016 appears to be in line with the Bank’s April projection, although business investment and intentions remain disappointing. The second quarter will be much weaker than predicted because of the devastating Alberta wildfires. … The economy is expected to rebound in the third quarter, as oil production resumes and reconstruction begins. … Inflation is roughly in line with the Bank’s expectations… Canada’s housing market continues to display strong regional divergences, reinforced by the complex adjustment underway in the economy. In this context, household vulnerabilities have moved higher. Meanwhile, the risks to the Bank’s inflation projection remain roughly balanced. Therefore, the Bank’s Governing Council judges that the current stance of monetary policy is still appropriate, and the target for the overnight rate remains at 1/2 per cent.

Things seem to be OK for now, and maybe the economy will pick up in the 3rd quarter, although I am intrigued about the statement of a “… complex adjustment underway in the economy…”. Is that a lowering of house prices? Wildly vacillating gas prices? Ludicrously expensive broccoli ? I doubt it, but it is a thought provoking statement.

My Writings for Week Ending May 27th

I did have a Happy Victoria Day, as I usually do. Did you realize that nothing is closed in Quebec on Victoria Day? We in Ottawa know this as we usually speed across the river to get beer on Victoria Day.

Our friends at Stats Canada pointed out we have Expensive Food and Shelter in April in Canada. Nothing really that new and exciting here, except that fresh food is getting darn expensive.

On the technology front I picked up a new computer (desktop) for my son and I learned about Bloatware and Cheap PCs. Assuming this is just harmless stuff can get you in trouble, make sure you clean your computers out and run anti-virus software.

A Money Thought

I always like useful financial sayings from movie characters.

The most valuable commodity I know of is information.

Gordon Gekko (Wallstreet)
Read More »Loose Money and #MoneyTalk

Expensive Food and Shelter in April 2016 in Canada

In April 2016 Food and Shelter were key contributors to the increase in Inflation.

exterior of kensington palace with statue of queen victoria day

Happy Victoria Day

Enjoy Victoria Day or Journee Des Patriotes the official start of the summer in Canada! Drive carefully!

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