The year 2020 is a year to be remembered. Unlike 2008 where there was a financial apocalypse, 2020 gave us a Pandemic. The pandemic has caused a financial apocalypse of its own. Whether there will be a quick recovery from it, remains to be seen.
In previous years I have written over 200 articles in a year. In 2020, I wrote a great deal less than 200 articles. I continue to have a huge backlog of unfinished titles, but 2020 was an interesting year. Here is the entire list, missing my #MoneyTalk compilation posts.
Estimated reading time: 5 minutes
Most Popular
CPP and EI Maximums for 2020, was my most read and searched article all year. I have done these every year for a while, so not sure why it was so popular, but here it is. I have in fact already published CPP and EI for 2021 to see if it is as popular.
My CRA Account another highly searched article, outlining how to set up your on-line CRA account. You really should set that up.
When to Put Money in RRSP I created a step by step reasoning, and naturally someone complained it wasn’t a waterfall. Seems there is no pleasing some folks.
Miscellaneous
The Hidden Cost of Land Transfer Taxes is a rework of a much older article. Funny I never hear about this being part of the purchase of a home. This is not an insignificant lump of money.
Moving Expenses for Students are things to remember if you have just graduated. These costs can help lower your initial tax bill.
What to do with Found Money (update) with some added ideas. Remember to wait before making any big money decisions.
Not Asking is Rejection by Default is a simple yet very true statement.
The Financial Echo Chamber is a dangerous place. Many of us live in bubbles, that really don’t help. You need to see opposing opinions, to understand the whole picture.
I Like My Money Like I Like My Coffee a bit of click-bait, that no one seemed to think was funny. Nice photo of a cup of coffee though.
Free Credit Bureau Access sounds lovely doesn’t it? Unfortunately the reasons for it, are not so lovely.
The Dangers of Automatic Reloading I have written about this before. Keep this in mind, when you automate things. The Perils of Automatic Payments is also an area you should audit regularly. If you pay bills from PayPal or a Credit Card, make sure you restrict access to only those bills you want paid.
Credit Card: One Time Services can help if you are late paying your bill. This only comes into play, if you are a customer who normally pays things off on time.
RESP – Registered Education Savings Plans
RESP withdrawals and Taxes was a guest post by a chap from UFILE, a little thin in spots, but still interesting.
A Guide to Understanding the Tax Considerations When Cashing out an RESP was a guest post, that was OK, but missed a few aspects of things, as well.
MER : A Worm in the RESP Money Tree especially if you use the wrong Mutual Fund. Using low MER ETF’s or Index Funds is the way to go there.
RESP Only For the Rich ? There is an argument that this is how it ends up. The poor, don’t open accounts, even though they can earn money without deposit. Banks don’t market them to those with low incomes, thus, RESP’s are for the rich.
RDSP and Disabled Loved Ones
RDSP Statement of Grant Entitlement 2020 another yearly post. I get this document outlining how much money will received matching grants in my son’s RDSP.
Henson Trusts another way to save for a disabled loved one. Some good links to help out, if you wish to go in this direction.
More RDSP Talk in preparation for my chat with Tom Drake a few thoughts came to mind.
RDSP : Quick Points are the notes from my Chat with Tom Drake about RDSPs. As usual a little disjoint, but usable for research.
Specified Disability Savings Plan – SDSP – How Does it Work ? The RDSP is a very long-term savings plan, but there can be exceptions for early withdrawal of funds. The rules are very precise for these early withdrawals.
RDSP after DTC Lost is now much clearer in terms of what to do. The RDSP no longer must be closed within a year, which is a good thing.
COVID Related
Impact of COVID-19 on Small Business and Self-Employed was an excellent article written by my daughter. She is a small business member and COVID has impacted them a great deal.
COVID-19 Are we F*cked ? really was prophetic. The pandemic has made a mess of so many financial things. Interesting to see the comments as well.
Doomsday Finances was an old article I recycled. Whenever you can talk about Star Trek and money together, you know you have a winner.
Post COVID-19 Budget ? but when will you be able to use it? Soon, is the hope, but remember, right now, your life is different. Maybe you can bring some good habits forward, but maybe not.
How to Open a Kids Bank Account in the time of COVID was a lot more complicated than I thought it would be. Still had to go into a bank storefront to complete it, which was annoying.
The Year to Come?
As I have said, don’t count on 2021 being a complete turn around year. I can be better, but it could even be worse. If anything 2020 has taught us is, you can never guess what might be coming next. If you want try some New Years Resolutions, but don’t look too far ahead, you might trip on something in front of you.
