Baby Car Seat - Diono Radian RXT

After lots of research, this is the one concluded by wife. It deals with all 3 stages for the infant.

Crazy House Sale - Toronto Real Estate Story

In my North York area - there was a detached house that was bought in 2015 for ~$776,500. 

Under heavy renovations and relisted for sale at end of Jan 2016 - listing price of $1.2M with immediate for sale price of $1.35M. 

The auction finished today and sold for ..... $1.35M.

Difference = $570k. WOW

Notes about the renovation:

• Redid 4 bathrooms and flooring with new kitchen electronics
• They didn't provide the washer and driver for some reason ...
• new floors with new base boards (seems like something i can do myself)
• New paint job and outlet switches to white
• The kitchen tiles were spotty since they didn't use the spacers x to tile it probably ... (my negative note)

Book Review - Rich Dad, Poor Dad

I found a copy of this book and started reading it leisurely. 


Some of the main points I found are:

• Assets => generate money for you
• Liabilities => take money for you

If you use this logic, car and home would be liabilities!

It’s the differentiator between his “poor” dad (his real dad), and the “rich” dad that helped him understand business and become wealthy.

1. The rich don’t work for money
2. The importance of financial literacy
3. Minding your own business
4. Taxes and corporations
5. The rich invent money
6. The need to work to learn and not to work for money

Credit Cards - Tangerine Money-Back Credit Card (2/16/2016)

A new potential credit card coming to the markets is:

Tangerine Money-Back Credit Card 

 

Benefits:

• no annual fee

• Deposited directly back onto your Credit Card to apply towards your balance, or into a Tangerine Savings Account, each month automatically.

• 2% Money-Back Rewards on your purchases in select 2% Money-Back Categories
• Grocery
• Furniture
• Eating Places
• Hotel-Motel
• Gas
• Recurring Bill Payments
• Drug Store
• Home Improvement
• Entertainment
• Public Transportation and Parking

• 1% Money-Back Rewards on all other purchases

• 1.5% Foreign Conversion Fee – one of the lowest in market (Amazon.ca Visa card is better …)

Retailer Cash Back Definitions:

• Costco => 1% Cash Back
• Walmart Superstores => 2%
• Regular Walmart => 1%

Update: 2/16/2016

• Got the card today in the mail
• You can either pick 2 or 3 categories for cash back for the 2%
• 2 categories with the money going back into your credit account
• 3 categories with the money going back into your new/existing tangerine savings account 
• I picked Grocery, Eating Places, Gas

Source of Information:

https://www.tangerine.ca/en/spending/creditcard/index.html

Credit Cards - What do I use (as of 1/18/2016)?

Listed below are my current credit cards:

• MBNA Smart Cash Card (MasterCard)
• 2% on Gas and Grocery Purchases (it went down from 3%) 
• 1% on everything else
• Cash out at every $50 bucks 
• Comments:
• I try to make sure all the gas and grocery spending is normally done on this card to maximize returns.

• President Choice MasterCard
• Earned 20,000 PC points, which equals $20 in free groceries. Or redeem higher amounts in further increments of 10,000 PC points (which is equivalent to a further $10 in rewards).
• 10 points = 1 dollar spent => 1% back
• I would probably cancel this card soon!

• Capital One Aspire Cash (MasterCard) (this is no longer available, it's only 1%)
• 1.5% Cash back on everything
• The 0.5% bonus comes at the end of the year (anniversary of when you signed up) as a lump sum 
• Cash out anytime
• Comments:
• This is my go to card for everything else other than gas and grocery 

• Amazon.ca Visa Card 
• Get a $20 Amazon.ca Gift Certificate instantly upon credit card approval
• Earn 2% cash back per $1 spent on Amazon.ca
• Earn 1% cash back per $1 spent everywhere else your card is accepted
• No Foreign Currency Transaction Fees
• No annual fee

Budget - Incomes and Expenses Categories

To help start my 2016 goal to understand where my spending is going in the previous years. I have build this initial list:

Income

• Paycheck
• Predictable bonus
• Expense reimbursements
• Investment
• Rental income
• Interest earned (on accounts, loans to others)
• Dividends and capital gains

• Misc.
• Lottery / gambling winnings
• Purchase refund

Expenses

• Automobile
• Gasoline
• Maintenance
• Registration fees
• Auto loan payment

• Bank Charges
• Check orders
• Service fees
• Insufficient funds fee
• Minimum balance fee
• ATM fees

• Charity
• Childcare
• Babysitting
• Child support

• Clothing
• Credit Card Fees
• Annual fee
• Finance charge
• Over the limit fee
• Minimum usage fee
• Cash advance fee
• Late fee
• Rewards programs
• Monthly payment

• Education
• Tuition
• Books
• School supplies
• Field trips
• Misc. fees
• Student loan payment

• Events
• Wedding
• Moving

• Food
• Groceries
• Dining out
• Vending machines
• Coffee house

• Gifts
• Birthday
• Wedding / Wedding shower
• Baby shower
• Holiday
• Anniversary
• Just because

• Healthcare
• Dental
• Vision
• Physician
• Hospital
• Prescriptions
• Over the counter medication
• Vitamins

• Household
• Rent / Mortgage payment
• Homeowner’s association dues
• Furniture
• Supplies
• Decorating
• Tools
• Home maintenance and repair
• Home improvement

• Insurance
• Automobile
• Health
• Life
• Disability
• Long term care
• Roadside assistance

• Job expenses
• Reimbursed
• Clothing
• Professional dues

• Leisure (daily / non-vacation)
• Books
• Magazines
• Movie theater
• Video rental / Pay per view
• Sporting events
• Sporting goods

• Hobbies
• Cultural events
• CD’s
• Video games
• Toys
• Tourist attractions

• Loans
• Loan Payment
• Finance charge / Interest
• Late fee

• Pet Care
• Food
• Supplies
• Veterinarian

• Savings
• Retirement
• Investments
• Emergency fund
• Reserve funds

• Taxes
• Federal
• Provincial
• Local

• Utilities
• Water
• Sewer
• Electricity
• Gas
• Television
• Telephone / Cell phone
• Internet service
• Garbage and recycling

• Vacation
• Day trips
• Transportation
• Lodging
• Entertainment

Income

• Paycheck
• Predictable bonus
• Expense reimbursements
• Investment
  • Rental income
  • Interest earned (on accounts, loans to others)
  • Dividends and capital gains
• Misc.
  • Lottery / gambling winnings
  • Federal / state / local tax refund
  • Purchase refund

Expenses

• Automobile
  • Gasoline
  • Maintenance
  • Registration fees
  • Auto loan payment
• Bank Charges
  • Check orders
  • Service fees
  • Insufficient funds fee
  • Minimum balance fee
  • ATM fees
• Charity
• Childcare
  • Babysitting
  • Child support
• Clothing
• Credit Card Fees
  • Annual fee
  • Finance charge
  • Over the limit fee
  • Minimum usage fee
  • Cash advance fee
  • Late fee
  • Rewards programs
  • Monthly payment
• Education
  • Tuition
  • Books
  • School supplies
  • Field trips
  • Misc. fees
  • Student loan payment
• Events
  • Wedding
  • Moving
• Food
  • Groceries
  • Dining out
  • Vending machines
  • Coffee house
• Gifts
  • Birthday
  • Wedding / Wedding shower
  • Baby shower
  • Holiday
  • Anniversary
  • Just because
• Healthcare
  • Dental
  • Vision
  • Physician
  • Hospital
  • Prescriptions
  • Over the counter medication
  • Vitamins
• Household
  • Rent / Mortgage payment
  • Homeowner’s association dues
  • Furniture
  • Supplies
  • Decorating
  • Tools
  • Home maintenance and repair
  • Home improvement
• Insurance
  • Automobile
  • Health
  • Life
  • Disability
  • Long term care
  • Roadside assistance
• Job expenses
  • Reimbursed
  • Clothing
  • Professional dues
• Leisure (daily / non-vacation)
  • Books
  • Magazines
  • Movie theater
  • Video rental / Pay per view
  • Sporting events
  • Sporting goods
• Hobbies
  • Cultural events (e.g. parades, carnivals, etc.)
  • CD’s
  • Video games
  • Toys
  • Tourist attractions (e.g. amusement parks, museums, zoos, etc.)
• Loans
  • Loan Payment
  • Finance charge / Interest
  • Late fee
• Pet Care
  • Food
  • Supplies
  • Veterinarian
• Savings
  • Retirement
  • Investments
  • Emergency fund
  • Reserve funds (to set aside for planned expenses)
• Taxes
  • Federal
  • State
  • Local
• Utilities
  • Water
  • Sewer
  • Electricity
  • Gas
  • Television (e.g. cable, satellite, etc.)
  • Telephone / Cell phone
  • Internet service
  • Garbage and recycling
• Vacation
  • Day trips
  • Transportation
  • Lodging
  • Entertainment

- See more at: http://thefinancegeek.com/budgeting/budgeting-categories/#sthash.qBMvrQdR.dpuf

Income

• Paycheck
• Predictable bonus
• Expense reimbursements
• Investment
  • Rental income
  • Interest earned (on accounts, loans to others)
  • Dividends and capital gains
• Misc.
  • Lottery / gambling winnings
  • Federal / state / local tax refund
  • Purchase refund

Expenses

• Automobile
  • Gasoline
  • Maintenance
  • Registration fees
  • Auto loan payment
• Bank Charges
  • Check orders
  • Service fees
  • Insufficient funds fee
  • Minimum balance fee
  • ATM fees
• Charity
• Childcare
  • Babysitting
  • Child support
• Clothing
• Credit Card Fees
  • Annual fee
  • Finance charge
  • Over the limit fee
  • Minimum usage fee
  • Cash advance fee
  • Late fee
  • Rewards programs
  • Monthly payment
• Education
  • Tuition
  • Books
  • School supplies
  • Field trips
  • Misc. fees
  • Student loan payment
• Events
  • Wedding
  • Moving
• Food
  • Groceries
  • Dining out
  • Vending machines
  • Coffee house
• Gifts
  • Birthday
  • Wedding / Wedding shower
  • Baby shower
  • Holiday
  • Anniversary
  • Just because
• Healthcare
  • Dental
  • Vision
  • Physician
  • Hospital
  • Prescriptions
  • Over the counter medication
  • Vitamins
• Household
  • Rent / Mortgage payment
  • Homeowner’s association dues
  • Furniture
  • Supplies
  • Decorating
  • Tools
  • Home maintenance and repair
  • Home improvement
• Insurance
  • Automobile
  • Health
  • Life
  • Disability
  • Long term care
  • Roadside assistance
• Job expenses
  • Reimbursed
  • Clothing
  • Professional dues
• Leisure (daily / non-vacation)
  • Books
  • Magazines
  • Movie theater
  • Video rental / Pay per view
  • Sporting events
  • Sporting goods
• Hobbies
  • Cultural events (e.g. parades, carnivals, etc.)
  • CD’s
  • Video games
  • Toys
  • Tourist attractions (e.g. amusement parks, museums, zoos, etc.)
• Loans
  • Loan Payment
  • Finance charge / Interest
  • Late fee
• Pet Care
  • Food
  • Supplies
  • Veterinarian
• Savings
  • Retirement
  • Investments
  • Emergency fund
  • Reserve funds (to set aside for planned expenses)
• Taxes
  • Federal
  • State
  • Local
• Utilities
  • Water
  • Sewer
  • Electricity
  • Gas
  • Television (e.g. cable, satellite, etc.)
  • Telephone / Cell phone
  • Internet service
  • Garbage and recycling
• Vacation
  • Day trips
  • Transportation
  • Lodging
  • Entertainment

- See more at: http://thefinancegeek.com/budgeting/budgeting-categories/#sthash.qBMvrQdR.dpuf

Food - Kefir? What is that?

I have seen Kefir in the supermarkets and normally ignored them. Spoke to a few of my work colleagues and found out that they have been taking a lot of home made kefir products to keep their immune systems up. They say it works miracles on keeping them healthy when they are close to being sick. 

When you have kids, you are share the love and the sickness too...

What is Kefir? 

• A sour-tasting drink make from cow's milk fermented with certain bacteria. 
• Made from Milk Kefir grains mixed with milk (that has lactose - milk sugar) to allow the bacteria strains to grow.
• Can buy Kefir milk products from supermarkets and the cost is about 3.8 to 5 dollars for 1 L bottle   

What are Milk Kefir Grains?

• Milk kefir grains are a combination of live bacteria and yeasts that exist in a symbiotic matrix on a surface of a complex polysaccharide with a casein core. Kefir grain make-up can vary depending on culturing location and conditions, resulting in a highly variable community of lactic acid bacteria and yeasts. 
  
  Following is a list of bacteria and yeast strains found to comprise kefir grains from different regions and through 2 different scientific studies.* The strains listed may include numerous subspecies and variants. 
  
  

  Bacteria Strains Common to Milk Kefir Grains

  Lactobacillus acidophilus
  Lactobacillus brevis
  Lactobacillus casei
  Lactobacillus delbrueckii subsp. bulgaricus
  Lactobacillus delbrueckii subsp. delbrueckii
  Lactobacillus delbrueckii subsp. lactis
  Lactobacillus helveticus
  Lactobacillus kefiranofaciens subsp. kefiranofaciens
  Lactobacillus kefiri
  Lactobacillus paracasei subsp. paracasei
  Lactobacillus plantarum
  Lactobacillus rhamnosus
  Lactobacillus sake
  Lactococcus lactis subsp. cremoris
  Lactococcus lactis subsp. lactis
  Lactococcus lactis
  Leuconostoc mesenteroides subsp. cremoris
  Leuconostoc mesenteroides subsp. dextranicum
  Leuconostoc mesenteroides subsp. mesenteroides
  Pseudomonas
  Pseudomonas fluorescens
  Pseudomonas putida
  Streptococcus thermophilus 

  Yeast Strains Common to Milk Kefir Grains

  Candida humilis
  Kazachstania unispora
  Kazachstania exigua
  Kluyveromyces siamensis
  Kluyveromyces lactis
  Kluyveromyces marxianus
  Saccharomyces cerevisiae
  Saccharomyces martiniae
  Saccharomyces unisporus

Source Material: Link

Real Estate - How to become Real Estate Agent (in Ontario)?

I had a conversion with Bear and Rabbit (names are hidden for their protection). Is it cheaper for you to become a real estate agent? You want to buy your own home as an agent?

Let's look into the details to become a real estate agent in Ontario, Canada.

General: How to become a real estate agent in Canada?

1. Successfully complete the courses through your provincial real estate association or council.
2. Submit an application to your provincial licensing body, along with sponsorship from a licensed real estate broker (essentially an offer of employment).
3. Maintain your license by completing additional courses as required by the province.

What is OREA?

OREA Real Estate College, the award-winning designated provider of real estate education in Ontario, provides all real estate registration courses in Ontario through the Salesperson Registration Education Program and the Broker Registration Education Program. Delivered on behalf of the Real Estate Council of Ontario (RECO), the comprehensive programs prepare students for the complex business of trading in real estate.

Pre-registration Phase 1:

Course Name	Cost	Hours Commitment	How to Learn
Real Estate as a Professional Career	$500	35	Correspondence e-Learning
Land, Structures and Real Estate Trading	$520	60	Correspondence e-Learning
The Real Estate Transaction - General	$400	40	Correspondence e-Learning
The Residential Real Estate Transaction OR The Commercial Real Estate Transaction	$400	40 40	On Site Classroom

Total Cost = $500 + $520 + $400 + $400 = $1820 just for courses! 
Total Hours = 175

Once you have completed your courses above to obtain your real estate license in Ontario you are then licensed and able to sell real estate while being employed by a brokerage in Ontario.  The next phase of your courses is called the articling phase.

Articling Phase (2): 
 TBD

Important Links:
OREA website

My 2016 Financial Goals

I need to set some goals for myself for this year. I will start with the following and may continue to build upon the list:

2016 Finance Goals (last update as of 1/14/2016):

1. Decide on where to invest the 2016 TFSA amount
2. Determine which financial institution to keep the TFSA
3. Determine my 2015 credit card spending habits and where the money went
4. Set some projection targets for 2016 income
5. Figure out a better system for my infinite receipt papers ...
6. Publish 100 articles for the year
7. Summarize net worth situation

Increasing Your Net Worth

As an analytical person, I think of everything in terms of formulas and math in the case of finances.

Net Worth = ASSETS - DEBT

So it would be logical that you need to increase ASSETS and decrease DEBT.

From reading a lot of finance blogs, there seems to be a not much content on increasing earning income but a large focus on increased savings.

Finance News - Canadian pays off mortage in 3 years and less!

News Link:  http://www.cbc.ca/news/business/mortgage-pay-off-three-years-1.3302229

Opinions: 

• Great job for the guy to do it with a lot of sacrifices to friends and time (100 working hours)
• Not applicable to every day people especially ones with families!

RESP - Grant - Canada Learning Bond (CLB)

This is another grant that is provided by the Government of Canada. I did the math and I don't qualify for it. Maybe you can depending on your family income.

Canada Learning Bond:

• Money Amount: 
• Up to $2000 (free money into RESP account)
• Paid in month of August
• Deposit directly into child's RESP every year that he/she is eligible
• Who can get?
• Available to children who were born after December 31, 2003 and whose families receive the National Child Benefit Supplement. (The Supplement is over and above the Canada Child Tax Benefit and is usually received by lower-income families.)
• Link for calculator
• Conditions for Usage:
• Note: If a child does not attend school after high school, any grant money received must be paid back to the Government of Canada.

Special Disclaimers:

• Not all RESP providers offer the Canada Learning Bond - check the fine print with the various RESP providers!

Source of Information:  Government Link

RESP - Grant - CESG!

Canadian Education Savings Grants (CESG): 

This is money that is given to your child's saving into their RESP account by the Government of Canada.

Two types of CESG grants:

1. Basic/Regular CESG

• The Basic Canada Education Savings Grant will give you 20% on every dollar of the first $2,500 you save in your child’s RESP each year.
• Money: deposit $2500 every year, and get maximum $500 for that year from government
• Who Qualifies:
• Children who are Canadian residents and are named in a RESP are eligible to receive Grant amounts until the end of the calendar year they turn 17

•  Special Notes: 
• If you forget to deposit money into the account for a year, you will not get the % allocated for that year!
• The maximum lifetime grant the Government of Canada can give your child through the Canada Education Savings Grant is $7,200
• if depositing $2500 every year, you need to do this at least 15 times with you contributing $37,500
  

2. Additional Canada Education Savings Grant

• Depending on your net family income, you could receive an extra 10% or 20% on every dollar of the first $500 you save in your child’s RESP each year. 

If you used to live in Albert, there was an Alberta Advance Education Savings Plan. It is official closed/cancelled. Click here for official details.

Important Links:

Government Details on CESG

TFSA - (Tax Free Saving Account) Updates for 2016!

Another New Year is here. This also means you can top up again into the TFSA accounts with an additional $5500.  
A reminder to myself that I still need to top up!

Current TFSA Contribution Limits for the Year:

2009, 2010, 2011 and 2012 was $5,000.
2013 and 2014 was $5,500.
2015 was $10,000
2016 is $5,500

 







Background notes for TFSA:

The Tax-Free Savings Account (TFSA) program began in 2009. It is a way for individuals who are 18 and older and who have a valid social insurance number to set money aside tax-free throughout their lifetime. Contributions to a TFSA are not deductible for income tax purposes. Any amount contributed as well as any income earned in the account (for example, investment income and capital gains) is generally tax-free, even when it is withdrawn.  Administrative or other fees in relation to TFSA and any interest or money borrowed to contribute to a TFSA are not deductible.

Important Links for TFSA:

Checking Contribution Room Information from CRA
Government Information about TFSA

About Myself

Me:

I was born and raised (as a Canadian) in Toronto, Ontario, Canada. Naturally strong in the math and sciences, I went to University of Toronto to study EE (electrical engineering) and got on the honor roll through all the years. I did many years of volunteering in various organizations such as Sick Kids Hospital and Habitat for Humanity. 

Fast forward now, I am married and got 1 daughter with one more coming soon.

Currently living in a condo, I would love to get a house in the future. Unfortunately, as of now, the housing price is crazy in Toronto and requires someone to have at least $1 M and up.

As for career, I started as an engineer and remained an engineer with a higher position with more responsibilities. Very dynamic and demanding career with about 10 years of service as of 1/13/2016.

Blog Disclaimer:

This blog is a personal blog written and edited by me. I am not a financial adviser, nor am I an expert on anything related to personal finance. My posts are a reflection of my life experiences, so please do not make any financial decisions based on what I have said or done.

This blog accepts cash advertising, sponsorship, paid insertions or other forms of compensation. The compensation received will never influence the content, topics or posts made in this blog that are written by me. All advertising and sponsored posts will be labeled accordingly under the ‘contest,’ ‘sponsored,’ or ‘guest’ post categories.

The views and opinions expressed on this blog are purely my own. Any product claim, statistic, quote or other representation about a product or service should be verified with the provider or party in question.

Introduction to New Blog!

With a new start to 2016, I made a resolution to track my finances better for the future especially since I will have two little ones in my family! I hope this blog will help organize my thoughts and records on how my finances are doing. 

Hopefully, my writing skills will improve with this pet project.