SayingThank You and Saying Goodnight

Eleven years I ago, I started a journey. I wanted no other Canadian woman to live my life. I wanted them to know about money. I wanted them to know life on a small budget was manageable. Tonight, a new path begins and I say thank you and goodnight.

Last week I got an offer to sell Common Cents Mom. The offer is more than fair. I will no longer be the owner of Common Cents Mom as of this time tomorrow night.

How do I say goodbye to 11 years years of work?

This blog has been good to me and for me. We built a community. A community I hope sticks around for what is ahead for the blog.  You will see more here, and it will help those who want a financial path forward.

thank you
Man holding thank you word in palm

Saying Thank You

Thank you to Liz Strauss and Terry Starbucker who first recognized me as a blogger when this little blog was in its infancy. Thank you to Preet Banerjee who gave me my first paid writing gig! Thank you to Gayle Vaz Oxlade who was an early mentor. Thank you to Donna Marie Antoniadias who recognized my talents early on as a community builder and helped me thrive and succeed.

Thank you to every person who gathered on Tuesday or Wednesday evenings to talk money long before there were bank Twitter chats and parties, Facebook Lives and Instastories. I enjoyed every hour very much. Can you believe those Twitter chats produced over 5 billion social media impressions? It is a legacy of how important money conversations are. Financial literacy is important. It always will be for Canadian families.

Thank you to every brand I worked with. I was blessed to have multiple year relationships with many brands over the years. I still remember my first sponsor on this blog though was Dove Chocolate. I couldn’t turn down chocolate.  But the reality is I loved talking taxes with Turbo Tax, loved my partnership with Church and Dwight, loved talking movies and tv shows with Netflix, and then got to celebrate my dad and his work in a factory many years ago when I partnered with Hallmark Canada.

This blog has also helped several Canadian owned and created apps and sites launch.

Flipp, is still my go-to best friend when it comes to shopping.  Have you downloaded and saved on your grocery bill yet?

Caddle, when it comes to favourite cash back apps, this one still ranks high for me.

uCarenet, will definitely change the face of homecare in Canada.

Quber, is a great little app if you need help with your savings goals.

Notice a theme with these? They all help us every day.  I loved finding apps, technology and ways of doing things and then sharing them with my readers.

good night

Looking Forward and Saying Good Night

Now looking forward, I turn 55 this year. It’s time to forge a new path forward. It’s time to say goodnight to this blog and start a new adventure. It’s time for a new writer here.

Wish me luck on this adventure and again thank you all, it has been quite the ride.

 

 

Sipping Tea

How to Use Natural Solutions to Beat the Cold/Flu

 

Sipping Tea

This has been a very rough year for the flu and colds for many of us. Luckily, for us, natural solutions have kept them at bay for my daughter and me. My mom, sister, nieces and nephews were not so lucky. My mom even ended up in the hospital for 11 days. The reality is as you age even something like the flu can have serious consequences.  For us having my mom in the hospital was scary. Thankfully, she is home now and on the road to recovery.

This got me thinking about how my daughter and I have been pretty lucky the last few years especially when it comes to things like the flu and the common cold.  How have we been using natural solutions to support good health?  I have been eating much better than in previous years, talking a great supplement and using my essential oils to give me a boost.

Here are 5 ways to use natural solutions to beat the flu/cold season

  1. Drink water. Hydration is so important for a healthy body. In the winter we often turn to caffeine and other non-hydrating drinks. Water consumption often decreases in the winter. We love to flavour our water with lemon oil, slim/sassy oil or lime oil from doTERRA. For me, that drop of oil has helped me hydrate more.
  2. Sleep is critical. Rest is good for the body especially if you feel a cold or the flu coming on.
  3. Diffuse oils. My favourites to diffuse in the winter are Onguard ( a blend of great oils), Balance, Lemon, and Eucalyptus.  Eucalyptus is used in many over the counter medicines you may already buy. Frankincense is another wintertime favourite of ours as it has often been used to support those with colds and even asthma.
  4. Clean with oils. Our favourite cleaning oil is Onguard.  We love the doTERRA On Guard Cleaner Concentrate as it is designed to be the ideal natural cleaner. It is a blend of Wild Orange, Clove, Cinnamon, Eucalyptus, and Rosemary CPTG Certified Pure Therapeutic Grade® essential oils. We appreciate that it helps fortify our home against some of those environmental concerns, especially in the winter. Science has proven that these oils especially clove and cinnamon definitely help.
  5. Take Onguard protective safeguard gels or sip my “Onguard Tea”. Yes, you can safely ingest some essential oils. I have been doing so for 3 years now. If I know I am going to be around others who have colds or the flu I take one to ensure my own immune system is supported and I often sip tea in the morning.

Want to know how to make “Onguard Tea”?

Enter to Win the Beat the Flu Naturally Giveaway

I would love to share my favourite natural solutions with one of my readers. Here is what you will win.

  • One bottle of Onguard Essential Oil
  • One bottle of Onguard Cleaning concentrate
  • One bottle of Onguard Protective Blend soft gels
  • One bottle of Lemon Oil
  • A mug to have your tea in.

Along with samples of three of my favourite oils Frankincense, Peppermint, and Wild Orange.

RETAIL VALUE of PRIZE $100

To enter the giveaway, please fill out this Entry Form.

  • Please Note Giveaway is open to residents of Canada, the United States and the UK over the age of 18.
  • Filling out the form is mandatory for entry.
  • For additional entries please share this giveaway on your social channels. ( Instagram, Facebook and Twitter) and use the Giveaway hashtag #NaturalSolutionsGiveaway and leave a comment on this post letting me know where you shared. You can share on your channels up to 5x.

****GIVEAWAY ENDS FEB 15th at 5pm EST.  Winner will be announced on Facebook and Instagram lives on Monday, Feb 18th.

 

 

Goal Setting for 2019

Do you start your year with resolutions or goals? I normally do. I have learned over the years it is great to be as specific as you can when it comes if I want to get anywhere. When I am goal setting I look at my history, I also give myself breathing room and realize things can and do shift sometimes in an instant but it always better to go in with a plan and an idea. So how am I goal setting in 2019?

I have started with some good books, some inspiration from favourite podcasts and self-improvement leaders and I even have a coach/mentor. A good way to start the year, right?

As I started to write out my goals I also took a look back at a Strength Finders test I did in 2018. It definitely in bring clarity about what I am good at.

So as I approach 55 this year I have some real concrete goals and objectives that I need to see happen. I thought I would share them with you as a way of keeping myself accountable!

My goals for 2019

Financial Life

  1.  There are some major purchases and obligations this year. We are yet to give my dad a proper resting spot, my sister and I want this to be the priority for 2019.
  2. I will be getting a new bed. I am already on the hunt for this and hope to have one by the end of the month after breaking my old bed in late 2018.
  3. Rachel will get a new cell phone.
  4. A new laptop for Rachel is also a need but she will pay for this out of her college funds.
  5. I will restore my emergency fund that was depleted in 2018 as I looked for work, I went through these funds faster than I had wanted.

Career/Business

  1. I have a full-time gig with benefits, that is a blessing! With that said though, I am very underpaid for my skill set.  I will work on finding a new job.
  2.  Rebuild the CommonCentsMom community.   Make it about helping you more.
  3.  Share more about essential oils, something I have been learning about for 3 years now. Help at least 50 people use oils in a way that benefits them.

Relationships

  1.  Have fun with friends at least once a month.
  2. Go on at least 10 dates. I am not currently dating anyone special. I haven’t been in a very long time. I will get out of my comfort zone and date.
  3.  Have a mom/daughter night with Rachel at least once a week.

Fun

  1.  Go to Niagara Falls with Rachel
  2.  Take in at least 4 musical concerts or festivals!
  3. Go to the beach more often
  4. Take at least 4-day trips to explore more of Ontario with Rachel.
  5. Canada’s Wonderland seasons pass. Looking forward to the Halloween Haunt and Winterfest.

Health

  1.   Walk 6x a week.
  2.  Drink more water– at least 4 glasses a day.
  3.  Make appointments for my colonoscopy and mammogram.
  4.  Go to the dentist
  5.  Eat a vegan meal at least once a week
  6.  Eat a meatless meal at least once a week.
  7. Participate in a half marathon in the fall.

Personal Goals

  1. Read 12 good books that can help me grow.  I started with Becoming and now reading The Success Principles.
  2. Read 12 novels just for enjoyment.
  3. Get back into scrapbooking.
  4. Do more family history research, a renewed passion in 2018.
  5. Go for more photo walks. I loved birding and exploring my city in 2018.
  6.  Cook 10 new recipes.
  7.  Go to Nova Scotia on vacation to see family.

Blog Goals

  1.  Grow the CommonCentsMom brand in a way that is genuine and real. In a way that helps families with their day to day lives.
  2.  Partner with brands that I love only.
  3.  Share more useful info on how to save to money, how to earn money and I also want to talk about preparing the future.

If you are a goal setter like me, would love to know what goals you are setting for 2019!

 

Boxing Day Sales Tips

5 Ways to Get the Best Boxing Day Sales

It is early Christmas morning here and the presents are under the tree and the stockings are hung with care and Christmas morning is eagerly anticipated. With that said we are also looking forward to the day after Christmas, Boxing Day brings many a deal. It is one of the best days to buy so many things. So how can you get the best Boxing Day sales? I have a number of tips that will help you score the best deals.

Shop with a List

This is always my first tip when it comes with looking for deals. Know what you want and need. Sometimes we can get caught up in the wandering of the mall and well come home with a pile of stuff that we don’t really need just because it was a great deal. If you don’t need it, it’s not a great deal no matter the price. Be smart about your purchases.

Know your prices

Do you know what the normal price is? How much are you really saving? Could you buy the item second hand and save even more? If it is something that will drop in value in six months you may want to consider the second-hand economy instead of retail.

Make technology your friend

If you are hitting the mall apps are your best friend.  Everyone who knows me I love to find the best deals. I do so most of the time by opening my Flipp App. I can make my list on the app and as I do it will show me where I can find the best deals that day. It even has a Boxing Day section so you can check out all the flyers or circulars.

Look Beyond Canada

Just a heads up, the United States does not celebrate Boxing Day but it is a great day to find deals south of the border. Check out some of your favourite American retailers but don’t forget to take into consideration the exchange rate, shipping and duties as you look at that price.

Shop Online and Get Cash Back

If I am shopping online I often will use the portal site, Ebates Canada. Ebates gives you a percentage in cash back every quarter. The rate will vary from 2% and up. This Boxing Week I am seeing cash back rebates of 5-8% at many of my favourite online retailers like Amazon.ca, Old Navy, Joe Fresh, Hudsons Bay and Shoppers Drug Mart. ( Please note if you sign up using my link, I do get a small referral bonus).

By using these tips you can be mindful as you shop on Boxing Day and every day.

 

Disconnecting to Connect at the Fireside Conference

Sometimes you simply need to get away. Back in July, an invitation crossed my inbox that I knew I needed to respond too.  The email was from Daniel Levine, the co-founder of the Fireside Conference inviting me to be a guest at the Fireside Conference. I had heard of the Fireside Conference at technology and small business events over the last couple of years here in Toronto.

 I spoke with Daniel and by the end of the end of the day, I was at a barbeque at  Steven Pulver’s home ( he is the other co-founder). At the barbeque, I was surrounded by past attendees and learned more about how the conference came to be and what to expect.

Daniel and Steven had first met many years ago when attending Camp Walden and when they reconnected several years later and wanted to design a retreat/conference for the tech crowd, influencers, investors and some other very interesting folk they knew Camp Walden would be the perfect setting.  They were tired of what they had seen at tech events where they saw a lack of real connection. Everyone was busy looking at screens and not really talking to each other except for maybe a brief conversation or the handing over of a business card.

In comes the Fireside Conference, at Camp Walden, a chance for attendees to disconnect and connect in ways I have not seen at any other event. At Camp Walden, there is no cell service and one spotty wifi location so attendees of the Fireside Conference actually connect one with another in this kids camp setting.

This conference is unlike any I have attended, speakers may be your sharing your cabin or those you walk with or sit around a campfire staring at the stars with. It is a conference when connection is palpable and meaningful. It is a place to make new friends, reconnect with old ones, have real conversations that can change you. It is a place of retreat, a place to take a risk and a place to grow. 

What did I love about the Fireside conference and why do I hope I get invited back? The beauty of the place, the campfires, the food are all givens but I was challenged and took a few risks. I also had some great conversations and cried real tears. There was even a military plane fly by!

On Thursday, I travelled the back highways to Camp Walden with a stranger from Las Vegas. Did I mention Camp Walden is about 3 hours from Toronto on a private lake? As we drove the backroads to the camp, we had a great conversation. Once we got there we were greeted by a campfire and quickly got to know those who we would be hanging out with all weekend. I shared a cabin with some women with some neat stories from one who works with teens, to a woman who created a new way for pets to be cared for by vets to a woman who worked in crypto for those in the adult entertainment industry. We were quite the bunch! 

One of the things that impressed me most was the diversity of the crowd. From start up CEOs and founders, to artists, to investors, to influencers to those that work in tech from around the globe, you never knew who your next conversation might be with. I met people from Europe, Australia, many from the US and from all across Canada. 

On Friday, I decided to challenge myself and took part in the pitch workshop. There were about 15 of us who were coached by angel investors as we attempted to perfect our pitches. I am not a founder but believe very much in uCarenet (the homecare app I have been working with since January) and decided I wanted to share the story of this app. In tech language, it is in preseed and we have some great partnerships so I am excited to see where things lead. At lunch, we all pitched in front of the crowd and 5 of the founders were chosen to compete the next day to win time with some amazing angel investors who were there.

My Friday night had me enjoying board games, snacks and a roaring campfire. I spent part of my evening with four podcasters from the US playing Boggle. Little did I know, they are some of the best podcasters around. Since Fireside, I have become a regular listener of both The Jordan Harbinger Show and Grumpy Old Geeks

The other highlights for me were axe throwing, a risk-taking workshop that literally had me looking into the eyes of fellow attendees while remaining silent, a few live podcasts and a session on working from anywhere. Currently, in all of my roles, I work from home. Working from anywhere is the dream. 

Saturday evening I cried more than once. Peter Katz and Blake Fly combined music, storytelling and gratitude to get this girl a hot mess. Literally, as I listened to Peter share his newest song, I thought the lyrics of “Paper Thin” were written for me. It had me in tears and then Blake shared about the importance of thank yous and how we often forget to acknowledge people in our lives. I know I have done this. It was a sweet reminder on this journey to remember and show gratitude for the little things. 

After Peter and Blake, we headed over to another building where we would hear from Michael Landsberg who shared about mental health and his charity #sicknotweak. The stories he shared touch everyone who was there and we were able to raise thousands for his charity.  I even donated a Twitter party to help raise funds and am looking forward to working with Michael on this endeavour

My time at Camp Walden ended with me starting up at the stars for about an hour and playing connect the dots with the stars and contemplating all that I had learned, the conversations I had and what I can do going forward.  

I will always be thankful for the invite, for those I met, for those I got acquainted with and for the lessons learned. 

Quber app savings that matter

Quber: A New Way for Canadians to Save Money #SavewithQuber

Did your grandparents, or perhaps your parents have a savings jar? Did or do you have a piggy bank? Quber is a new savings app for Canadians that draws on the idea of the old fashion savings jars with a modern twist. It gets Canadians mindful of their spending and saving habits. It is the newest personal finance app that actually helps you find ways to save.  Have fun, learn and save money sounds good to me! In the end,  you are saving for what matters for you.

Quber app savings that matter

How does Quber Work?

First, once you have opened your Quber account and linked your bank account( no worries, linking is safe and secure, saving in your savings jars on the app can begin. What would you have jars for? In the past, Rachel and I have had savings jars at home for everything from saving for a rainy day, our annual CNE trip (you need extra money to have fun in the shopping area), to saving for a trip to see family on the east coast. Now we have a bigger goal and it is our first jar. We both want to see Europe. It is on our bucket list. With Quber we can help make this dream a reality.

One of the things that makes Quber different is the app will give you recommendations on how you can change your spending habits so you can save more in your jars. No more graphs and charts, real information when you need it. Early users of the apps are also loving the challenges the app will give you as it helps them complete savings goals faster. It is all about being mindful of your spending.

One of the things you can use a savings jar for for example is Christmas. Have you ever overspent on this holiday? Ever put gifts and Christmas fun on a credit card to only have to pay it all back in the months after Christmas? With Quber you can save for Christmas and spend what you have.

One of the other great features of the Quber app is the vault. Have you ever bought on impulse?  Your money gets locked away. Don’t worry though if you need it, it can be accessed within 2 business days.  It helps you curb impulse purchasing.

Learn More, Party and Win

Quber Twitter Party

Want to learn more about Quber join us for the #SavewithQuber Twitter Party this Sunday, September 9th at 9 pm EST! There is $300 in prizing and you can win either a deposit into your Quber savings jar or a MasterCard.

Looking for more ways to win, Quber has lots of them starting on September the 10th for Quber users. With $5,000 in prizing many users will be filling their savings jars! You can check out the #SavetoWin contest here 

Want to learn more about the Quber app. Check out all the info on the Quber site. 

You can download the app from the App store here.

You can download the app from the Google play store here

You can follow Quber on Twitter here. 

*this post is sponsored by Quber. My opinions are always my own and I love to bring my readers’ apps that will help them in their daily lives. I was paid for this post and to host the upcoming Twitter Party.

Want to know how to participate in a Twitter party read my post here. 


 

 

How to Plan a Staycation

Sunnyside Beach

Wouldn’t it be great to escape the chaos and day-to-day responsibilities of our everyday lives for a week of fun and relaxation somewhere far away?  But what if it’s not in the budget?  Airfare, hotel rooms, rental car, dining out, and other travel expenses can make getting away very expensive.  And even if money isn’t a factor, sometimes health issues or work obligations prevent us from going away anytime we feel like it. Downtime is great to take.

But that doesn’t mean when the kids are home from school for summer vacation or March Break that you can’t still have a great time! Why not plan to take a vacation right in your own backyard?  A true Staycation is more than just time off at home, it’s an intentional time of fun and relaxation for your family.  It may take a little effort to do it right, but ultimately, it can be just as fun as going out of town.

  1. Set ground rules. The point of a Staycation is to make it feel as much like a real vacation as possible, without leaving home. To make sure the whole family is on the same page, it’s good to set some ground rules that everyone can agree on.  These could include some or all of the following:
  • No email
  • No computer or video games
  • No work
  • No fighting
  • Family time only—no independent activities
  • No cooking, cleaning or doing laundry
  1. Spruce up your bedroom. Make sure you have cosy soft sheets and that they are freshly washed. Add some scented fabric softener to the laundry so they smell great.  Unplug the alarm clock and hide it in the closet.  Put fresh flowers on your nightstand along with a book you’ve been looking forward to reading.  Fill a basket with your favourite snacks and some bottled water to keep in your room.  Place scented candles around to encourage relaxation.
  2. Be a tourist. Do you live in or near a city like we do where there are lots of tourist attractions?  If you do, you’ve likely never been a tourist in your own hometown.  This is the time to explore where you live.  Visit local museums or monuments, try out a couple of the “hot spots” for dinner, go to the zoo, attend a sporting event or get theatre or concert tickets. Here in Toronto, there are lots to do, and lots of them are free.
  3. Spend time in the great outdoors. Go on a nature walk at a nearby national park. With Rouge Park being a National Park it makes a great spot to get into the outdoors. The TTC even takes you close to the park entrance.  Do you live within a couple hours’ drive from a beach?  Take a day trip. If you’re not close to a beach or hiking area, go to a local park for a game of Frisbee, a long walk or some fishing.  Go camping or watch movies in the backyard. Here in Toronto, you might want to head over to the Toronto Islands which are just a short ride away.
  4. Enjoy a family night in. Play a board game together.  Have a movie night complete with popcorn and hot fudge sundaes.  Work on a puzzle or invent a new game.  Build a fire to roast marshmallows and tell scary stories.

You don’t have to spend a lot of money, or even travel out of town to enjoy a fun and relaxing family vacation.  I hope these ideas have inspired a few ideas of your own! We are looking forward to our next staycation right here at home.

Why Send Your Kids to Summer Camp at the Y

*This post is in partnership with the YMCA of Greater Toronto. All thoughts and memories shared are 100% ours. 

It is that time of year, parents are busy planning their summer calendars. I can remember when my daughter was younger this time of the year meant booking vacation time, registering my daughter for whatever events she would be attending and shopping for summer camps she would enjoy.  Summers for her were times for adventure, time to learn new skills and to have lots of fun. Have you thought of sending your child to a summer camp? My daughter who is now twenty speaks fondly still of every camp experience that she had.  From circus camp to a media camp, to learning how to swim and canoe at camp she loved them all.  So why send your child to camp?

As we look back, summer camp taught my daughter so much while allowing her to be in an environment that would help her grow.  My daughter was blessed not only did she go to camps right here in the city and in more rural environments but even attended one on the Toronto Islands.  With such variety, she was able to grow and learn. She attended one summer camp that included swimming lessons, giving her a skill most children should have. She attended another where she learned how to canoe, she attended sports camps where she worked on skills and learned teamwork, she attended art camps that allowed her creative side to bloom.

One of her favourite experiences was at a local YMCA camp. They have many of them in the city. She went and learned new skills, had fun making new friends and values that are important to us were encouraged. We loved that each camper could earn beads throughout the week by demonstrating values that are important like inclusiveness, respect, honesty, caring and health.  We often had great conversations about how she earned her beads.

Y Summer Camps

Have you considered the Y Summer camps? They have camps for everyone. Really, everyone! They have over 60 programs where kids can get excited about everything from creative arts, learning to swim, cooking,  exploring science to even having a rural camp experience. Did you know they even have a camp on the Toronto Island?

Kids that attend the Y Summer Day Camp have a great time building new skills, getting a sense of community and building lasting friendships ( my daughter is still friends with a girl she met at summer camp when she was 8 all while coming home each night full of stories of that day’s adventures.

What You Should Know About Y Day Camps:

  • There are 45 locations and over 60 different programs that run all summer long ensuring that the needs of families across the GTA can be met.
  • There is also busing and extended hours available as they know families are busy. There are over 200 bus stops across the GTA. Yes, that means there is one close to home.
  • There are financial aid programs available. The YMCA has always had financial aid available for families based on a sliding scale. It is based on your income and family size applying is easy
  • Use the YMCA Day Camp Guide to register your children. It’s easy to use and narrows your choices based on the needs of your family. Once you have chosen the camp, simply download  and complete the Camp & Club registration form and email it along with any documentation they may need to camps@ymcagta.org.
  • If you receive a government subsidy for daycare, you can apply your subsidy to summer camp. Simply fill out the registration form including the payment information and send via email to camps@ymcagta.org
  • Ready to register your child for a great camp experience? Use the code YSUMMERCAMP when booking to receive 10% off your day camp fees. This offer is valid until August 17th, 2018 and can not be used in conjunction with any other discount or promotional offer. This offer is not available for Government Fee Assistance, YMCA Financial Assistance and staff registrations. The discount cannot be applied to any previous registrations.

Want to follow the YMCA Summer Day Camp fun, follow their social media channels. You can find them on Facebook, Twitter and Instagram. 

 

 

Are You Using Essential Oils in Your Self-Care Routines?

One of the things I have been doing lately is taking care of myself better. For years, I really didn’t focus on me ever at all. Everyone else came first. Self-care was low on my priority list? Ever been there? Slowly over the last couple of years, I have started using essential oils more and more. I feel in love with aromatherapy quickly but did you know essential oils can help you in so many ways. As I am learning to take care of myself better, in this month of love I wanted to share some great self-care recipes. Essential oils are now an important part of my self-care routines.

What kind of stress do you live with?

I know I placed the needs of family first and it seemed we always had something to juggle. What household is not busy these days?

With it being the week we celebrate love there are many ways to start taking care of you.

It’s time to take care of you. It’s time to show yourself some love.

Aromatherapy

One of the simplest ways to trigger relaxation is with scent. Aromatherapy triggers relaxation. It’s a great way to stop stress in a moment.

There are many ways you can use aromatherapy.

  1. With a diffuser. Simply add a few drops of your favourite oil to water to help you relax. My favourite oil to use is Lavender.
  2.  In your bath. Add a couple of drops of essential oil to a tablespoon of a carrier oil, then add this to your bath water. (Never add just oil to the water- water and oil do not mix.)
  3.  Massage.  Use it in a carrier oil to give a massage.

Scrubs

Some of my other favourite ways to use my essential oils is by making scrubs. Here are just a few great scrub recipes you may want to try:

 

There are so many ways to use essential oils to help better your self-care routines. Check out my Pinterest board to see more recipes and tips that may help you.

If you are intersted in learning more about essential oils and selfcare, I have a free e-book for you.  Just fill out the this form and I will send it to you.

Join the #RRSPandTSFAReady Twitter Party

It’s hard to believe the RRSP deadline is quickly approaching. Are you ready for March 1st, 2018?

Over the years I often wondered was an RRSP really necessary for every Canadian? The RRSP has been around since before I was born yet the TFSA is still a fairly new savings plan. Which is best? I have learned it all depends on your individual situation.

An RRSP or registered retirement savings plan is meant for long-term savings. You can read more about the plan on the government website here. A retirement savings plan is registered with the federal government and you contribute to it.  Any income earned in the RRSP normally exempt from taxes as long as the funds are in the plan. You pay taxes when you take money out.

A TFSA is a tax-free savings account. It allows those over 18 ( and have a social insurance number) to set money aside tax free throughout their lives. Contributions to a TFSA are not taxed deductible. Amounts earned inside the account is generally tax-free even when it is withdrawn.  Read more about them here.

On Thursday, Feb 1st, 2018 you can join my friends from @TangerineBank for the #RRSPandTFSAReady Twitter Party to learn more.

Details for the Twitter Party:

Twitter Party Date: Thursday. February 1. 2018

Time: 7:00pm ET to 8:00pm ET

Twitter Party Hashtag: #RRSPandTFSAReady

Host@TangerineBank

Guest: Joe Synder @JoePSnyder 

RSVP: not required

Prizing: $300 in Gift Cards

 

In the meantime, let me share four things you should know about TFSA’s:

Want to know more about the special guest for the Twitter party?

Joe Snyder

Joe Snyder will be on hand to answer your questions. Joe Snyder is part of the Investments Product Management team at Tangerine. Joe is passionate about investor education and holds the Chartered Investment Manager (CIM®) designation. You can read Joe’s blog posts on the Tangerine website. Click here to view his posts.

*this post is sponsored by the Tangerine Bank. All opinions are my own.