I previously wrote a post about the Canada Emergency Response Benefit, mainly to summarize the qualification criteria. This benefit has since been expanded to include more people. Additional clarifications were also provided. Updated eligibility criteria In order to receive CERB, you need to meet the following conditions: You’re a worker -either employed or self-employed- and …
How I am handling my finances and coping during Covid-19
I have received a flurry of e-mails from readers asking me how I am handling my finances and my life in general during these uncertain times. Thanks for reaching out. I will gladly oblige. First, expressing gratitude As some of you know, I am based in Vancouver, Canada. Here, there is no "confinement" like in …
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CERB explained
This coming Monday, the application portal to apply for the Canada Emergency Response Benefit -CERB- will open. CRA is already anticipating an overload on the system and has broken down application days by month of birth. The breakdown is here. The Agency has also provided more details in regards to eligibility. I will kindly summarize …
“Here for you” is all relative
If you live in Canada, you've probably received lots of e-mails from your financial institution and other service providers letting you know they are "here for you" in these uncertain times. I certainly have. I found these messages to be anxiety-producing, to be honest. But, what does "here for you" actually mean? Perhaps, it's not …
Coronavirus and your expenses (with a BC twist)
Pandemic or no pandemic, we all have bills to pay....unfortunately. If, like many people, you are already feeling the pinch financially, let me give you some advice on which bills to pay first and any assistance that might be available to you. Since I live in British Columbia, I will provide information about the provincial …
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Coronavirus and your income (or lack thereof)
UPDATE: the 2 benefits previously announced by the Federal Govt have been combined into one: Canada Emergency Response Benefit or CERB. More info here . As we are in uncertain times worldwide, many Canadians are already feeling the pinch, financially. Last week alone, Service Canada registered about half a million new EI claims. Many people …
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Coronavirus: Canadian economy edition
In light of the pandemic caused by the coronavirus, the Canadian government announced an unprecedented economic package to help as many Canadians as possible during these turbulent times. It is unprecedented, indeed. Even in during the Great Recession of 2008, the measures implemented were nowhere close to what we're seeing now. This crisis was actually …
Don’t trade on the news: coronavirus & your money
The last couple of weeks have been turbulent market-wise. Fears of the coronavirus and its impact on the Chinese economy sent markets into bear territory worldwide. My own portfolio lost between 5% to 10% over that period. And I don't really care. Yes, you've read correctly. And, yes, you also guessed that I didn't sell …
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Ridiculous bank offers’edition
Recently, I've been "bombarded" with e-mails from Scotiabank offering me a ton of "advantages" if I open either an Ultimate Package or Preferred Package account. The "advantages" are the following: waiver of annual fees on 1 eligible credit card, unlimited, free monthly transactions on the checking account, an additional 0.10% interest on their Momentum Plus …
Return since inception vs. yearly return
I recently received my December statement for both my RRSP and TFSA portfolio. This portfolio is for retirement purposes only, therefore I don't plan to draw from it until I retire. As an information, its breakdown is as follow: 75 % equities, 20% bonds, 5% cash. Its geographical allocation is predominantly North American, but I …
