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?

TM: Because of the shared jurisdiction on retirement income, we work with the provinces, including Quebec, to create a new retirement plan at low cost. This will be useful for people without access to a private pension plan, or self-employed, can contribute to a retirement plan at low cost. Several insurers and banks wishing to participate in this measure.

Furthermore, in terms of savings account tax free, we will double the amount that Canadians can save each year, bringing it to $ 10 000. This will be done when the budget is balanced, which should occur during the fiscal year 2014-2015. To do this, we will not replace all employees who retire. We will reduce the size of government while making it more efficient.

FI: What do you do to improve the financial literacy of Canadians?

TM: We will call very soon a national commissioner of financial literacy that will work for the Agency of Consumer Agency of Canada to coordinate a plan of action.

We must teach young people the risks and responsibilities related to credit, credit cards, mortgages, how to manage daily expenses and plan for retirement. We will work with provinces to insert into the education system. For example, many do not understand what compound interest and its consequences, and we will ensure that this does not fail in their education.

We will also ensure that financial institutions provide information clearly and concisely in relation to contracts they are signing and its subtleties.

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.

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.

5. Our financial lives are larger than we think: Managing our money not just have a stock investment account. He is also managing our debts, the house, our children, our ability to generate money and much more. To handle our finances have to take into account the whole and the parts so we can make wise choices, discover opportunities and find out what we lack. It is not only making money but also know how and where to spend it.

6. Focus on the things we can control: We will not be able to control the rate of inflation or unemployment, or economic growth or what happens to the price of the shares. Instead, we can control our expenses, our ability to save and our level of indebtedness. The latter should be the focus of our efforts.

7. Simplicity is a great virtue in finance: As billionaire Warren Buffett, he only invests in businesses he understands. It is wise for the rest denotational. It is preferable to avoid investments that promise much but are confused and find it hard to understand.

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.

The models that are compatible with this aid are the same as in the Plan VIVE, but the emission levels up to 140 grams CO ? / km to 149 grams while maintaining the safety or environmental requirements. This gives us a little more freedom of choice. The other criteria are exactly alike.

In Galicia, Madrid, Navarra and Valencia regional aid are different, but in any case we have 500 euros to 1,000 euros state that put the manufacturers. In some cases the total aid can reach 3,700 euros. Mind you, if we chose a model used by the manufacturer does not put $ 1,000, so the help is from 1,000 to 500 euros, depending on the area. There will also be scrapping a model with 12 or more years.

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

In the vast majority of families and couples a person is in charge of managing and controlling the money. What from a theoretical point of view is positive (always good to have a ‘book’ even amateur) also has its negative side. First, it can lead to the ‘atrophy’ financial other members of the family and secondly, it may not be doing their best to family interests. Should always be more than one person involved in the management of family capital, and the establishment of goals and forms of joint action. It could happen that the person in charge preferred to keep happy the other members and allow their spending even at the cost of borrowing or saving was not due form. Monthly meetings to review the accounts and a set of common goals is the best way to save future problems.

4. Family Loans

From a purely financial point of view are the best financing option couple who requested, but also a great cancer on the economy and family life. The problem is not so much lending capacity but a lack of foresight (both financially and emotionally). It is not always easy to meet the expectations of payment for those who have received the money, while the lender may face strong pressure to ‘stop’ money to their relatives. In addition, overconfidence and the general lack of a written contract may ultimately affect the relationship between these two people. At the end is certainly not appropriate to mix family with business: there are too many chances of something bad jumps financially or emotionally.

5. A consumer attitude: do not save enough

In a consumer driven society more and more people make good the carpe diem and live in the moment without considering the consequences. In this case we already talked about the people who spend more than they have or can, but who feel they must spend to be happy. Obviously this is not live back to the woods and live as hermits, but consume wisely and learn to do without certain costs that are not really necessary. In the end, personal finance are as much about what a person earns as to what gets saved. Thus, a formula is seeking alternative activities not directly related to the consumption or purchase a set of habits healthier and less expensive.

6. No budget or spending limit physical

Even those who believe they have their financial situation under control may be a surprise if they decide to capture on paper the true state of their accounts. It is not always necessary to create a fixed budget with strict spending limits. At bottom, it is aware of the expenses incurred by each person in order to set a ceiling on expenditures. This is the only way to have at least an idea of how, where and why money is spent.

7. Financing for large purchases through debt

Borrow to buy a house or a car is normal for most families and even the only way to acquire those assets. In fact, most financial management advice contemplate this option. The problem arises when the debt is the financial formula for another series major acquisitions, although not as much as the television or other appliances. Apart from the interest-free financing options, this form of purchase reveals a lack of family welfare. Clearly problems can always arise, but precisely for that we must create an emergency fund or foresight. This is as we would think the car: If you have a few years and needs to be replaced in the future, better start saving.

8. Be overcome by emotion

This is undoubtedly the only stone in which he has encountered (and surely will do) 100% of savers. Feelings are the great enemy of sound personal finance management. No need to look far to find examples: from a car more expensive than we thought initially to ‘forget’ the budget on a vacation, let alone equity investments. It is always impossible to control impulses, but we must try as far as possible when it comes to financial decisions.

9. Do not diversify investments

An important part of personal finance and investment goes. Not only trying to get a return on their savings in the short to medium term, but also to create a base for retirement. Regarding the latter, the closer the time of retirement will diversify the investment required, it is commonly known by not putting all your eggs in one basket.

10. Borrowing

The debts are one of the biggest problems in managing personal finances. Obviously not always possible to avoid it (a mortgage is almost essential to buy a case), if however you have to know the different ‘types’ of debt and know how to handle. Do not exceed the limit of the credit card or advance payment to avoid delay repayment of certain loans can make a huge difference in economic terms. You only need information and a plan to end the debt.

In any case we must take into account to know the ten most common mistakes when managing our personal finances will not prevent that from time to time fall into any of them. The aim should be to re-offend as little as possible to keep our accounts in good condition.