Big Cajun Man expresses concern over the high debt levels in Canada, which are fueled by cheap interest rates. He proposes a radical, but unlikely to be implemented, idea to slow the ‘tsunami of debt.’ The idea involves using erasable tattoos that say ‘Debtor’ on the back of a person’s hands in exchange for a 25% discount on loan interest rates. This tattoo would be a condition for receiving the loan and would be removed once the debt is repaid. The author acknowledges its potential to drive people towards alternate lenders.
Hope everyone is enjoying the festive last week of RRSP season and for those who enjoy getting that last-minute Income Tax break buzz, you have until Monday next week to get your last minute RRSP contributions in place, to get a break on your 2014 taxes. As I mentioned this week, maybe we should have this kind of excitement for TFSAs? It’s not necessary as the limits carry forward for you (another reason to like the TFSA more than the RRSP).
The Daffodil a True Sign of Wales (and spring I hope too)
Sunday is Saint David’s Day for my Welsh brethren. Wales plays France on Saint David’s Eve, let us hope for a festive win to help usher in this happy day. Dydd Gwyl Dewi Hapus.
Dydd GwÅ·l Dewi (Sant) hapus
I gave blood again this week, and due to a small pimple on my regular “giving arm” I gave with my right arm this time. Always an exciting time, but it worked just fine, and I can now feel pious for Lent, knowing I helped someone out. Have you given blood lately? If you can, why not?
The Rideau Canal has set a record for a number of days open this year. We in Ottawa hope it won’t still be open in May.
My Writings for Week Ending February 27th
I did enjoy the festive feel for this final week of RRSPs, and my twitter feed was peppered with useful RRSP commentaries :
Didn’t hear if anyone used my RRSP Bingo card for their RRSP purchases, I hope someone had fun with it.
What order do you do your savings RRSP then TFSA ? I have a different idea, but if you are a regular reader you can guess my point of view on this.
It is that time of the year where the argument about RRSP or TFSA starts. How about RRSP then TFSA as a possible solution? If you can do both without incurring debt, you are doing quite well.
