Comments for Canadian Personal Finance Blog

Comment on Fun with Numbers Redux by Bet Crooks

Bet Crooks — Tue, 18 Jun 2013 19:51:54 +0000

I find it easier to hack into their bank accounts to check what they make. : )

Comment on Fun with Numbers Redux by bigcajunman

bigcajunman — Tue, 18 Jun 2013 14:09:47 +0000

Are you self-employed? That means you have a higher Max

Comment on Fun with Numbers Redux by bigcajunman

bigcajunman — Tue, 18 Jun 2013 14:09:25 +0000

Good point, I have had both occur (i.e. Bonus was taken into consideration and Bonus was ignored), but yes that would mess with the arithmetic too.

Comment on Fun with Numbers Redux by Jane Savers @ Solving The Money Puzzle

Jane Savers @ Solving The Money Puzzle — Tue, 18 Jun 2013 13:44:51 +0000

I didn’t max out again last year so it should be easy for someone to figure out that I don’t make very much money.

Comment on Fun with Numbers Redux by Greg

Greg — Tue, 18 Jun 2013 13:23:22 +0000

I’ve found this interesting too. One thing that isn’t accounted for by your reasoning is bonuses (at least the way my employer calculates CPP and EI deductions, but I think it is the way required by the CCRA). In the case of CCP this year, you pay on the first $51,100 you make in a 2013. If you happened to get a big bonus on your first pay (regular+bonus >= $51,100), you would end up having all your CPP for the year deducted from that pay. Your formula would indicate yearly income of about $1.3 million. But it could be somebody that made $100,000 salary and happened to get a $50,000 bonus at the beginning of the year.

Comment on My Father’s World by Bet Crooks

Bet Crooks — Mon, 17 Jun 2013 19:13:13 +0000

They made all the Dads at our church sing in a special vocal group Sunday. I’m not sure that making them get up early (for rehearsal) on Father’s Day was really quite the right way to celebrate their day. They sang well, though: the torrential rain stopped and the sun was out when the doors opened after the service.

Comment on White ATM Machines Same as Pay Day Loans by Bet Crooks

Bet Crooks — Mon, 17 Jun 2013 19:10:23 +0000

I suspect these ABMs prey on the same species as the payday loan offices. It would be interesting to see why people are using them. I suspect they need cash for all the wrong reasons: to buy another beer, to buy another pack of smokes, to buy some junk food to satisfy the munchies. If that’s the case then the person’s ability to see the real cost of these ABMs is already impaired.

For those who are just unaware, though, it would be great to get them to wake up. If they really have $1.50+ to give away regularly there are lots of charities that could use that money. There’s probably even a person on the street corner nearby with the sleeping bag who could put the money to better use than the ABM company.

Comment on White ATM Machines Same as Pay Day Loans by Robert_M

Robert_M — Mon, 17 Jun 2013 13:09:23 +0000

Hi BCM,

It is not just white ATMs that you have to be careful of, but all bank ATMs that are different from your regular bank. I use RBC and they do not have a branch in the town near our summer home. If I use another bank, then the same $1.50 fee applies.

I learned to use debit while paying for groceries and ask for cash back. The grocer is happy to give me my money without asking for a service fee. Another $1.50 that stays in my pocket!

Comment on My Father’s World by KC @ genxfinance

KC @ genxfinance — Mon, 17 Jun 2013 12:31:33 +0000

That’s really nice hymn. Salute to all the fathers out there. Belated Happy Father’s Day.

Comment on What to Do with a Bonus ? by Mike Carlson

Mike Carlson — Sun, 16 Jun 2013 11:15:14 +0000

I totally agree with you. I’d probably pay off my debt with a bonus so it won’t cut down on my regular paycheck.