Financial Safety Advice

Under the federal election campaign, Finance and Investment gives the microphone to the main Canadian political parties. The author of these lines has met with the representative of the Conservative Party, Ted Menzies, Minister of State (Finance) since January 2011 and candidate in the riding of Macleod, Alberta.

Finance and Investment: Your party is proposing does one or more measures that will promote the development of the financial services industry in Canada?

Ted Menzies: We will ensure that the financial industry remains strong and vibrant and that regulation in this sense remains.

We will continue to ensure that problems with the U.S. housing market have affected the banks of the United States does not affect Canada. Already, we reduced the maximum mortgage of 35 to 30 years and we have ensured that the maximum amount of mortgage refinancing is only 85%. If people have problems with their mortgages, they will bounce off the banks.

Health Canada’s financial system is its stability. We worked with the G7 and G20 to ensure the stability of the global financial system. Thus, with our partners in the G20, we are implementing rules that promote stability of our banks. We want them to have the same rules as other international banks.

FI: Are you in favor of the adoption of a single securities commission in Canada?

TM: We believe that a national regulator is the right thing, but if the Supreme Court rendered a decision against us, we would not fight the court.

For several years, foreign companies approach us and ask us why we do not have a single regulator across the country. These companies have told us: “I would start a business in Canada and operating in all jurisdictions. “They have to pay application fees in 13 jurisdictions. They have forms to fill out separately in each jurisdiction. I talked to companies that have told me: “I have not come because in Canada, you’re the only country in the industrialized world that does not have a single regulator. “

However, we do not try to reduce the rules. We are not trying to add risk to investment. We try instead to foster investment. Several experts have argued that if we had a national regulator, we would never had to deal with cases of fraud to the Earl Jones or the setbacks caused by the Commercial Paper Asset-backed non-banks. A regulator could raise a flag against these assets. Moreover, we do not have adequate laws to prosecute Earl Jones of this world because we have 13 different jurisdictions.

FI: What is your position regarding the proposed merger of the TSX and London?

TM: The Industry Canada must determine whether this potential transaction meets the requirements under the Investment Canada Act. Meanwhile, the provinces review the transaction, but it would be inappropriate for me to comment further.

FI: The savings of Canadians is at an historic low. Do you think the government should stimulate savings? If yes, what measures are you considering? Read the rest of this entry →

In practice it is always positive but we go up the pay according to income tax, not always an increase in our wages automatically mean that we have more money and therefore purchasing power.

The reason we have mentioned above that depending on our salary, Finance we apply a particular section of income tax or another as we see below:

- From 5,050 euros to 17,360 euros – 24%
- From 17,360 euros to 32,360 euros – 28%
- From 32,360 euros to 52,360 euros – 37%
- From 52,360 euros to 120,000 euros – 43%
- From 120,000 euros to 175,000 euros – 44%
- From EUR 175.0000 applies to 45%

So as we see if our salary goes from one section to another, such a rise might not be fiscally interesting because in some cases earn more but also would pay more and vice versa.

If we were in this situation, we could talk with the company for that salary increase is reflected in our payroll as diet because they are not taxed up to a certain amount or even the company, we can pay raise given as a special bonus.

1. The money is only a means to an end, not an end in itself. Before obtaining money or invest we must first define what we want the money. If you do not have clear objectives might fail in reaching strategies. We must not enslave us money

2. Do not neglect the Now: We often see only in terms of finance of the future, save for our future home, retirement or college kids. But now is as important as the future because it day by day we are building. The basics: live on less than we earn each month, saving, having life insurance if you have children and spend on things that really matter. If we take care good of today, our tomorrow is guaranteed.

3. Have a plan: If we manage our financial lives, we must have a plan, a road-map with clear targets. Only then can implement strategies to meet those goals. This plan should have several options if one does not work. If something goes wrong we have a plan “B”.

4. Think better what we want: We often imagine how life would change if we buy the house of our dreams or that we desired promotion at work. But often we get these things and that true happiness is elusive. The solution is to define what is really important in our lives and give the money right place. Read the rest of this entry →

NOTE: It is confirmed that no more operations are accepted for the Plan VIVE having exhausted the funds provided. Again in 2010.

It helps to finance a new or used car up to five years. Dan $ 10,000 interest free and the remaining amount with a fixed interest rate of 5.695% APR (5.5515% monthly) in 60 monthly installments. It is compatible with paying an entry, but the car should be funded. The operation must approve the bank’s financial and brand of cars must be approved by the ICO.

Benefit cars that emit less than 120 grams of CO ? / km, ie less than 5.2 l/100 km for petrol and 4.5 l/100 km diesel. It allows a higher level of emissions if the vehicle has stability control, seat belt fastened warning lights or anti-system (3-way catalyst or EGR). In that case, the cap is 140 g CO ? / km, equivalent to 5.9 l/100 km for petrol and 5.3 l/100 km diesel.

If you want to buy a sedan, we have to return a car with more than 15 years.
2000E Plan

Is a direct aid to the purchase of a new or used car up to two five years. The Government allowance of 500 euros, the manufacturer another 1,000 and $ 500 more if ACs are attached to the Plan. Therefore, the aid will be 1,500 or 2,000 euros depending on where you buy the car, no residence or registration requirement. Read the rest of this entry →

The changing value of money by the effects of inflation and other economic indicators. However, even without the participation of these invaders, their value is still relative. And is that not all the same it makes use of capital or, put another way, what each person does with the money, the importance given and the decisions you make are the ones that end up defining the ‘price’ of money at all times. Everyone strives to maximize this value, but in the end only a few succeed. The rest struggle to get more and more of your money.

Make a 100% effective management of personal finance can be considered a utopia. Wrong is easier than it looks, especially when taking into account that almost everyone ends up making the same mistakes. And there are still differences to know where the pool and not step on it. The twelve most common pools in financial management are:

1. The interest goes away with time

Almost everyone decides to take control of your personal finances at a time of economic need or job uncertainty. That is, when expected to need money. At that point they are able to accumulate substantial savings and reduce costs. The problem is that when the situation stabilizes and the threat disappears again lose interest and fall into old habits. The key here lies in perseverance, a skill essential in the financial field. A good way to skip this ‘pool’ is created during those months of the financial surge, some kind of automatic savings or checking and recording of fixed costs. So at least there will always be a part of the finances under control. Also, always avoid falling into some old habits.

2. There is no reserve fund

Have some money to unforeseen events is simply a matter of logic. However, most do not have an emergency fund or reserve. To this we must add another large percentage in which this capital is not enough to address three months of life (theoretically ideal margin). The consequences of not having the money saved is more than expected, debt and even bankruptcy. Fortunately, the solution is equally simple: a little financial sacrifice and righteousness to create the emergency fund.

3. Only one person controls the financial management Read the rest of this entry →