100 Podcast Interview Partners Wanted - Personal Finance
So many times we visit and read blogs about personal finance.. We visit sites which promote products and services that help us either make more money, or save money. I thought it would be a great idea to interview 100 people involved in personal finance to get the low down on the industry.
After writing hundreds of articles , and thousands of discussion posts, I thought it would be nice to interview others in the industry and get their fresh perspective on things.
If you're one of these people, I would like to interview you!!
I am looking for 100 podcast partners to interview in 2010 as follows:
~ Personal Finance Blogs
~ Owners/Managers of companies who service the personal finance industry:
~ Mortgage Brokers,
~ Investment Counsellors,
~ Life Insurance Agents,
~ Collection Agencies,
~ Credit Bureaus
~ Motivation and Education Consultants who help their clients make more money
Sharing ideas and concepts for our personal finance visitors.
The objective for our interviews is to give our visitors news about the industry, some new insights and tips from experts who are involved everyday!
~ What got you interested in Personal Finance Blogging?
~ How long have you been blogging?
~ What is the subject you like to blog about most?
~ What are 3 of your favorite personal finance blogs?
~ What are 3 of your favorite personal finance websites/products/services?
For Industry Service Providers
~ What service do you provide?
~ What are Products/services you offer that can help our visitors save/make money?
~ What are the Benefits of your product/service?
For Motivation & Education Consultants
~ How does your service relate to the personal finance industry?
~ How does your service help our visitors make/save money?
~ Can you give one or two case studie examples from your own experience, where your service helped an individual make/save money?
~ The premise of the show is to help our visitors learn more about existing resources and services.
~ You must have a few years experience in the personal finance industry if you're a service provider.
~ This is not an advertisement for your product or service
~ You need to indicate when you're available to be interviewed. (I prefer to do my interviews in the morning)
~ I will be doing these 100 interview throughout 2010.. Booking early is important.
~ It would be beneficial, however, not imperative if you could write a little promotional piece and put it on your blog/site to tell your readers about our interview. This way, your visitors would get the full benefit of our interview as well.
~ There is no cost to you for this interview.
~ I will need to see your topic ideas a few days before we do the actual interview
If you're interested please email me at:
Or leave a comment below..
Thanks.. I'm looking forward to a great year doing 100 interviews!
CMA Blog Home
What are Life Insurance Rates?
Importance of life coverage
Insurance is a protection that you take against uncertainties and complications in the future. There are various types of insurance but the most important is life insurance. This provides solace to the insurer that his loved ones will get financial assistance after his demise. The insurer however has to pay regular payments to the insurance company for a period of time or until his death. The insurer also has to specify a nominee or any number of nominees who will get the financial assistance. The nominees have to claim the insurance after the demise by providing proper credentials. It is a good and recommended practice to inform the nominee about it. There have been several insurance policies that lie unclaimed with insurance companies. Life insurance policies are of different types and the insurer can choose anyone based on his requirement and suitability. The life insurance rates change based on the type of insurance policy taken.
Insurance quotes for Canadians
The insurance providers in Canada offer two types of life insurance mainly. The types are Term insurance and Full life insurance. The former is for a period of time only. At the expiry of the contract, the insurance cover ceases. This might be used in specific cases only. Full life insurance is for the whole life. The premiums should be continued to be paid by the insurer. The money however serves two purposes. A part of the premium goes towards life insurance and the rest will go towards investment. The investment could be either in deposit account with a bank or in a unit linked plan for investing in shares and stock market. The life insurance rates of term insurance are comparatively lesser than full life cover. The purpose of term insurance is solely for providing cover against life. Full life insurance however deals with both cover and investment. There are lots of sites which provide quotes for insurance policies for Canadian people. They get schemes and details from almost all insurance providers in Canada. The quotes will be displayed based on the information provided by the users. The expectations of the insurer from the policy are collected. Some medical information is also collected. These quotes will tell you which policy to take and the amount of insurance cover that might be taken. This amount should be based on the dependants of the insurer and their income.
Which type of insurance to take?
The different types of insurance have their own purposes. Term insurance can be used by small families whose main aim is for protection in case of death. The life insurance rates are also lower. The insurers however do not enjoy many benefits other than cover. Full life insurance can be useful for tax planning purposes and as a long term investment plan. Some people go in for this full life to get both cover and get returns on them. The decision to go for the insurance policy should be made after consultations with the financial advisor or manager. There are different types of policies for different people.
CMA Blog Home
What is Penny Stock Advice?
Penny stocks and investment
Stock markets are one of the areas where you can put money into it and watch it grow. This has attracted people so much that share markets were established to enable them trade the shares and the stocks. The people trading in stock markets are so much that a large company has market capitalization running hundreds of millions of dollars. The share prices of such shares are also in terms of tens of dollars to even touching hundreds for some. Such shares are out of reach of people for those who have a small budget. These people however can invest in Penny stocks. These stocks are of small companies that are not popular and profit making to be traded on the main share markets. They have a share price of lesser than $1 to even $5. The market capitalization of these stocks is also very less. These stocks can be considered second rung stocks that mainstream brokers stay away from. A fresher before investing in penny stock should take penny stock advice before investing.
Steps to do before investing
Investing in penny stocks needs more research and homework to be done before investing when compared to mainstream shares. The details about penny stocks are tough to get since they are small companies and will be hard to get information. There are listings of penny stocks that are doing well or which are promising as a prospect to invest. The investor can collect the companies that he might look at from them. There are also penny stock leads which could be utilized to get information. The investor must then narrow his choices to two companies. The investor should look at the companyï¿½s financial status, profitability, management and recent progress when deciding the company. The investor can also get advice from any eminent expert in the field. They would be able to give any inside information about the company. The sector where the company operates should also be researched to know its prospects. The recent news about the company if any can be got from financial articles and on the internet. The best penny stock advice is to do a lot of research before investing.
Precautions and care to be taken
Penny stocks are highly speculative as an investment. The investor could either get manifold on his investment or end up losing all his money. There are also lots of irregularities and scandals revolving around penny stocks. Penny stocks are sued by companies to make profit illegally. They will increase the share price by false propaganda and sell a lot of shares when it increases. The investor should not fall into such traps. The investor should get a good broker to manage the transactions. Most brokers prefer not to involve in these stocks. There are some online websites that help the investors to trade penny stocks in Canada. Since the number of shares is less for penny stocks, it may be difficult to buy or sell these stocks. The best penny stock advice is to tread with caution and care when dealing with these stocks.
CMA Blog Home
I saved $89 on Annual Fee - MBNA
I called MBNA today to switch my card over to a No Annual Fee card..
The customer service mentioned that I have an incredibly low interest rate on this card... MBNA Travel Rewards Platinum.. the rate is 7.99% which is pretty sweet.. I also have 1.99% interest on balance transfers until October 2010.!! That's pretty sweet as well.
I'm not crazy about the $89 annual interest rate. I told the CSR that I want to switch over to another credit card that doesn't charge the annual fee.. He indicated that I probably wouldn't get the same low interest rate if I changed to another card.
The CSR asked to be excused for a moment while he checked my options... when he returned on the line, he quickly indicated that he would remove the $89 annual fee, for this year, if I stayed with this card.
While I'll have to call back again next year... I saved $89 with a 6 minute phone call! This goes to show that MBNA is ready to give you a break, if you've got good credit. The other main point here is this: You may be able to save on interest rates and annual rates if you call your creditors.
The Keys To My Success in this regards:
If you're wondering why I get such good rates, and good privileges, I've done the following:
• Had the card since 2000
• Paid it up as agreed since then.
• My credit score is around 805
• I don't carry a balance.
These all make me able to negotiate favorable rates with MBNA.
CMA Blog Home
Some Downsides of Being Frugal
On the overall, my family is pretty frugal... We are by nature , which makes it easier to live the lifestyle...
I've taken up watching DIY Network and it's shows. I like the concept of saving money by do it yourself home repairs. I'll be honest, many of the repairs they show are really expensive. Kitchen renovations for $20,000, bathroom renovations for $15,000, bedroom renovations for $10,000 etc..
Many of these expensive renovations have some of the latest and fancy gadgets. They're much more than adding insulation and new drywall.
In our situation, I am not a handyman, and I don't want to take on credit for home renovations.
Downside #1 of Being Frugal: Home Renovations
One of the first downsides of being frugal is that I'm not really the handyman type, and it costs money to bring in a contractor to do home renovations.. I refuse to take on debt to fix up the house.. Our house is paid off, and I'm not interested to get mortgaged up again.
• Quite frankly, we need a new floor in the kitchen.
• Our house has had problems with black mold, and drywall needs to be replaced.
• Our basement foundations are cracked and in some places the concrete is pretty much like sand. It needs to be replaced.
• We can't do alot of other major renovations because of the basement's problems.
Our financial policy is cash only.. So.. realistically the basement and other renovations are going to take years to save up for.
Downside #2 of Being Frugal: Yard Renovations
Our yard is kind of basic. Nothing really exciting. The grass is old and outdated, there are no fancy features and our garden needs alot of work.
Again this is not something I envision myself doing. I would rather hire a contractor in some cases than do yard work. (I'm glad the yard is covered in snow right now... at least my conscience gets a break in this regard for six months! ) It's important to note that I am learning about home renovations, but after not doing them ever, it's going to be a long learning curve...
I'm curious to know anybody's recommendations for getting home & yard renovations done, but using cash only. If you've got ideas, I'm really excited to hear about them.
Frugal Home Maintenance & Frugal Yard maintenance.
CMA Blog Home
Balsam Hill Canada Christmas Trees
I was asked to write a review about the Balsam Hill Christmas Tree site.
As it's getting close to Christmas, they're excited to show people their lovely select of trees, wreaths & garlands, ornaments and skirts and more.
Saving Money on Christmas Costs
As we're always concerned about saving money on things, the Artificial Christmas Trees
is one way to save money over the long term. Artificial Christmas Trees can save money if you use them over a 10-20 year period. And.. they save the environment by not killing live trees for the three usage. If every Canadian family who celebrated christmas used artificial trees, we would save millions of trees.
If you like nice things for your family christmas celebration then check out Balsam Hill's wreaths & garlands collection. They got sizes from 24" to 60" wreaths. These would go nicely on all Christmas Trees
. They've got styles from Aspen Christmas, Vermont Signature, Napa Christmas, and the Classics Collection. They have pictures on their site which will help you pick your favorite one.
This site is nicely laid out and simple to follow. If you're in the market for that special christmas treat or even an Artificial Christmas Tree
, you should check out this site... They really do have nice stuff.
As I usually do with these types of reviews... I always caution people to spend money that they have saved up. I do not recommend that people spend money that they can't afford, or put the purchase on a credit card that they don't have cash reserves to pay back right away. Christmas purchases should be fun, and as such you shouldn't be paying for them with interest over the long haul... Bottom line, if you don't have the cash, please don't make the purchase. Please Purchase responsibly.
CMA Blog Home
What is Accident Cover Insurance?
Human life can best be characterised by various elements of uncertainty. Insecurity means that accidents may happen at any time, and with anyone. The bad thing is that serious accidents have a very negative impact not only on the person who suffered it, but also on his/her family. In order to prevent at least the financial concerns in such circumstances, insurance companies designed a special product called Accident Plans to provide some kind of financial security for those who suffered an accident as well as for their families. These policies ensure that if an accident takes place, a benefit is given to those insured individuals who are seriously injured or if they die, such benefit is given to their families.
What kinds of injuries are covered by this policy? Benefits are paid in the event of the insured’s accidental death, but also if the person suffers the following injuries due to an accident:
- Quadri-, para- or hemiplegia
- Total/ permanent loss of use of one’s limbs
So in one word, Accident cover is used to protect the insured and his/her family from the negative financial consequences of the insured person’s injuries resulting from a serious accident. It gives the financially reassuring feeling that in case an accident happens, and the person becomes permanently disabled to work, the insurance company will provide a lump sum as insurance benefit. This means people get financial help when they need it most. Moreover, insured individuals also get a certain amount of money for each day of hospitalisation. Also an immediate lump sum is given in case of disability, the amount being based on the nature and seriousness of the injury.
An important advantage of accident insurance policies is that they address the majority of the key life -stages, from the young through new parents until the older generation. Moreover, Accident Cover gives applicants differentiation by providing them with many flexibility features in order to meet each applicant’s unique needs. The policy thus can be personalised, so one may get a specific coverage against professional hazards for instance. In addition to this, people may add the Children's Insurance option to their accident plans. This will provide an additional benefit to pay medical bills, tuition fees or similar expenses in case one’s child contracts a serious illness.
Is there anything important to know about eligibility? In order to be eligible, people must be at least 18 and under 70, and they should be permanent residents of England, Scotland, Wales, or Northern Ireland. Applicants must be able to demonstrate they have at least 40 weeks residency in any year in the previously enumerated places. When insured people reach 65, their cover ceases to provide protection against permanent total disability and coverage ceases entirely at age 75.
What is the application procedure? The easiest way to apply is either online or over the phone. The whole application procedure will take only a few minutes: people have to answer a few questions, and there are neither blood tests, nor any medical tests. Cover may start as soon as the next working day after the application. Generally people are given a period of 30 days to review their policies and decide whether it is right for them. If they change their minds during this trial-period, people may cancel their plans for free.
One of the main benefits this kind of policy offers is the global coverage. Insured individuals are covered anywhere in the world for the majority of the possible accidents. Nevertheless, it is of primary importance for people to get the necessary information regarding what exactly is covered and what is not. So people are advised to read out the terms and conditions of the policy and ask the company about those elements or features that are not clear.
It is unfortunately true that we cannot prevent accidents, but at least we can protect ourselves and our loved ones from the negative financial consequences of such accidents. A protective insurance we may conclude typically provide:
- an extensive accident cover from as low an amount as £4-5 a month
- easy and permissive eligibility criteria (almost anybody is eligible)
- a possibility to increase the coverage-level up to £150,000
policy guaranteed without medical examinations
- Tax-free cash payments
- the security of fixed insurance premiums that do not change as the insured gets older
- options to get additional protection for the insured’s entire family (for instance, people may cover their partners as well)
- worldwide, 24/7 insurance-protection
- benefits in addition to other policies the insured has
- coverage until the insured becomes 75
- 30 day period of money-back guarantee
Talking about the cover in details, people should know that the following are involved: permanent total disability (a coverage of £100,000), loss of sight either in one eye (£50,000), or in both eyes, loss of use of either a limb (£50,000), or of two limbs, loss of hearing (£20,000 - £100,000), loss of use of a hip, knee, ankle, or wrist (£10,000 for each), shoulder (£12,500), thumb (£7,500), any finger or toe (£5,000), hospitalisation up to a maximum of 180 days (£50 per day), and accidental death (£10,000). The amounts given in brackets are approximate sums of money given if the insured suffers the injuries in question. In order to know the exact amounts provided people should get up-to-date information from their insurance providers.
As with any insurance policy, people should keep in mind that there are some excluding factors or limitations. With an Accident Cover there are no benefits for accidents that are direct or indirect consequences of the insured person’s suicide or attempted suicide. Similarly, alcohol or drug use is also an excluding factor. There is no benefit given if any of the previously mentioned injuries happen 12 or more months after the accident. Nevertheless, people who conclude this type of policy are recommended to read out the full details of exclusions that are valid for the policy.
A final advice for applicants is to review their needs and financial situation from time to time. Regularly made analyses should involve people’s coverage-level and premiums. Anybody may change his/her policy: it is possible to decrease the coverage-level, but also to increase it by attaching additional cover to it for extra costs. In order to make changes, people should consult with the insurance providing company. In any case it is of primary importance to understand what kind of coverage is offered and check whether it is right for one’s particular circumstances. Only this ensures that one purchases a suitable policy.
CMA Blog Home
Getting a Mortgage After Bankruptcy?
Getting a mortgage after bankruptcy in Canada has changed since dramatically since Oct 2008. Sub prime lenders no longer exist, and no longer offer the “day after discharge” options, nor are most of them even operating at all!
To understand how to gain a mortgage after bankruptcy in Canada today, you should follow a simple 5 step process which will properly walk you through the hoops you need to jump through in order to gain trustworthiness again. It is critically important that you follow each of these steps in the correct order. Doing the steps out of order normally will result in failure, or frustration.
Step 1 - Gain your Absolute Discharge & Pay Proposal in Full First.
Since you are not fully complete your bankruptcy until you are discharged, your first priority should be gaining your absolute discharge which would mean fulfilling your trustee’s directions as soon as you possibly can. With a Consumer Proposal, your goal is to pay off your proposal in full, which would equate into the same thing as gaining your Absolute Discharge if you had gone down the bankrupt option. Once you have been discharged for 2 years, or proposal paid for 2 years, you can qualify for a mortgage again with regular interest rates as if you had not gone bankrupt.
Step 2 - Clean Credit Score
By far the most important step I can assure you that 95% of the time is done incorrectly or has not been done at all. You need to review your credit score to ensure it is reporting accurately and the information from your PAID Proposal or your Absolute Discharge are reporting accurately. If your credit score is not reporting accurately, it is very common to see problems or issues with trying to gain credit since lenders are "confused" about your credit score. A clean score is the hardest part to gain in order to restart yourself back into the world of credit. It is 100% necessary that you re-establish your credit as there are limited exceptions with people who don't have credit after a bankruptcy. I have provided a easy process to fix your credit reports on your own with both Equifax and TransUnion. You can visit that information on my site here: Clean Up Your Credit After Bankruptcy
Step 3 - Gaining New Credit
It is important that you need to gain new credit from AFTER the date of your discharge or your paid proposal date. Holding credit though your proposal or bankruptcy will help your credit score number rise if you are using it responsibly, however, it will not count towards “ReEstablished Credit” which is vitally important. You will need anywhere from 1 year of ReEstablished Credit to 2 Years of ReEstablished Credit with a minimum of 2 trade lines reporting over $1,000 each. It is a good idea to gain stronger limits of $1,000 or more, $200 credit cards really don’t support strength in ReEstablishment. Car Loan, Credit Cards, and RRSP Loans are by far the more normal way's people have done this in the past.
Step 4 - Accumulating a Down Payment
Today it is possible to gain a mortgage with as little as 5% as a down payment after bankruptcy and Proposal. You would still be able to gain the same interest rate with 20% down as well, however, the more down payment you have the better the capacity it will show the lenders that you have, which will increase their trust level with you and their application. The down payment normally has to be accumulated from your own resources. The lenders want to know that you have a financial investment into the property and that you are not willing to walk away from the property.
Step 5 - Gaining A PreApproval
Once you have the first 4 steps out of your way, you want to gain a lenders affirmation that they are prepared to move forward with your application. Gaining a PreApproval will not guarantee your success to financing, however, it will give you affirmation that the lender is willing to proceed with you, as long as the insurer agrees with the risk assessment the lender just preformed on you. The property still would need to come into play, and that information is not available when you do a PreApproval.
For a full detailed summary of more information on each of these Steps, feel free to visit my website at:
Steps After Bankruptcy - ShopMyMortgage
Matt Wieler, AMP
CMA Blog Home
Payday Loans and Cash Advance
It happens very often that we run out of money before we get our next pay checks, which could be very disappointing, especially if some urgent financial obligations apply. Or there may happen that we become sick and urgently need some expensive medicine, but we do not have enough money as the payday is far away. In these kinds of circumstances the so-called Payday Loans can be quite useful tools to help us get out of trouble.
But what exactly are payday loans? The term refers to a payday cash advance in the form of a small personal loan for the short term, which does not require any collateral from applicants. This unsecured loan is offered for special circumstances, such as urgent cash needs, or for those who need quick cash but due to poor credit rating cannot get other unsecured loans. So if one has no money, but has an unpaid bill which may have very negative consequences, it is better to take out a cash advance in the form of a short-term payday loan. This will save people from having financial difficulties until they receive their next pay checks. It is important to notice that most of the times payday loans tend to be cheaper than paying late payment charges because of being late with bill-payments.
Talking about the process of taking out this loan, one should notice the following. Because it is an unsecured loan, qualifying for it is not complicated. The important issue is that people should have a fixed income in order to be able to repay this loan. People may choose retail lending which means one gets the loan from a payday-lending store, but there is another choice, namely getting the loan online, from a payday loan site. No matter which way is chosen, the application procedure is quite a simple one. After filling in the payday loan application form, loan providers decide about the eligibility of the applicant, and send eligible candidates the needed cash.
It is always useful to shop around, and find the best payday loan offer, as some creditors may offer flexible payment schemes. The calculation of the maturity date also differs from institution to institution, and so do the interest rates. However, even those payday loans that have high interests tend to be more advantageous than accumulating late-payment charges.
The advantages of payday loans are clear by now, but let’s summarize them again! One of the main reasons for which payday loans are used is that they are less expensive than other personal loans that are open to the public. They are also more advantageous than paying late-payment fees which applies if one cannot meet his/her financial obligations such as paying bills and so on. It is obvious that for people who do not have but need money as fast as possible, but only for the short run, the most convenient solution is the payday loan. With this kind of cash advance no complex paperwork is involved, so generally speaking it is very easy to get them. Other loans, on the other hand, are more difficult to obtain, or at least it takes much more time to get the requested money.
After one has decided that a payday loan is the best choice for his/her particular situation, it is important to shop around and compare at least 3-4 companies who offer this kind of product. This comparison is very easy, especially if one makes use of the internet and the free online comparison tools that do the job instead of them. Because the loan-offers differ considerably, it is useful to be careful with the choice. The flexibility features should also be checked, namely the loan’s terms and conditions, and the repayment methods. Online calculators show objectively and clearly which company provides the best payday loan for one’s specific situation. One more thing that must be checked is whether the creditor is government-protected as this may constitute a guarantee that there are no additional or hidden charges, which might transform an advantageous loan into an expensive one.
Those who are not sure about what to do (to take out a payday loan or not) should talk to a loan specialist. It is useful to know that there are other options as well that are similar to cash advance loans such as the so-called “credit-union loans”, “credit payment schemes”, “pawnbrokers”, “cash advances from employers”, or advances obtained from “credit cards”. If one hesitates a lot, it is better to make a quick comparison, and after this it will be clear which choice is the best for the applicant’s individual situation. The internet is useful in this sense as well.
It is important to know that there is an option of taking out an online payday loan. Applying through the internet is easier, and applicants get the cash advance in the quickest possible time. No additional document is required apart from some basic data such as name, loan-type and amount, as well as the repayment period. After a quick check, lenders deposit the requested cash advance electronically. This way online payday loans can provide cash advance in a few days, but it may happen that a single day is enough for the requested amount to arrive into the applicant’s checking account.
All in all, after a quick but careful consideration, people can decide whether a payday loan is the appropriate choice for their specific situation. It is always useful to know about the various existing loan possibilities, which may help in solving urgent financial problems. So those who need cash advance for the short term to cover urgent financial needs may take out a payday loan until they receive their next pay checks. Otherwise some hefty late-payment charges may apply.
CMA Blog Home
New Discussion Forum System: Category Section
I thought I & would take a moment to write a quick blog post. I haven't written much this year. I've been spending my time building out my site, and learning how to program... By concentrating my time on the site development, I've become quite proficient at programming, which means that the structure of this site is becoming better and better.
The good news is that the look of the site is getting better and better. I've started to hire out the cosmetic part of the site... I'm not a website cosmetician by any means. :)
I'm hoping to publish the next section of the site: the topic categories, by the end of this week.. The complexity of the new design is much greater than what I've dealt with in the past.
I'm rolling out the new look of the site in sections... basically as I build them, I will publish them. This means that the discussion forum won't match for a few months, but hopefully by Jan 1, or sooner, the whole discussion forum area will match.
You may ask, "why am I building out the site myself?" why don't I hire this out? I got it into my head that I wanted to learn about programming when I first published the site in 2005... I guess it's one of those personal interest type things.. As I learned more about programming, CSS, html, php, and mysql, I realized I could build out the site, better - stronger - faster with the better techniques I learned.
After I finish my planned build out, I hope to get back to my regular blog posting and podcasts with experts etc.
The good thing about a DIY site is this: It's all paid for in cash, with no debt acquired to build this site.. The process is slower, however as a website we remain financially safe... which is what we recommend to our visitors.
Anyway... please do look for the new discussion forum look as I roll it out in the next few weeks/months.
CMA Blog Home
This is a general term for insurance against loss by sickness or bodily injury. It typically includes coverage for expenses such as doctor visits and hospital stays, and can cover normal and preventive care such as check-ups, prenatal and baby care. Health insurance can be made available to individuals and families. It is sometimes used more broadly to include insurance covering disability or long-term nursing or custodial care needs. It may be provided through a government-sponsored social insurance program, or from private insurance companies. The plan can be customized to suit the unique needs and the premium payments are treated as medical expenses under the Income Tax Act. Therefore a small business owner will receive a tax deduction while his employees will get a non taxable benefit.
Canada's national Health insurance program, often referred to as "Medicare", is designed to ensure that all residents have reasonable access to medically necessary hospital and physician services, on a prepaid basis. Instead of having a single national plan, they have a national program that is composed of 13 interlocking provincial and territorial health insurance plans, all of which share certain common features and basic standards of coverage. Canada's regionally based Medicare systems are cost effective partly because of their administrative simplicity. One of the most important things you need to do as soon as you arrive in Canada is to apply for a health insurance card.
All members of the family, including newborn babies, must possess their own card. The application form can be obtained from the provincial ministry of health office, any doctor's office, a hospital or a pharmacy. If necessary, the immigrant-serving organization in your area can help you fill out the form. To apply for a health card, you will need your birth certificate or Confirmation of Permanent Residence and passport. The permanent resident card may also be presented. In most provinces, you will receive coverage as soon as you apply.
There are a few companies in Canada that offer Visitors to Canada Health Insurance at a reasonable price and one such company called Expert travel financial security stands out far above the rest with a superior product, at an excellent price, and a very good service. This insurance is purchased by the day, and is available from 1 to 365 days. The premium is payable in full at the time of purchase. Any visitor to Canada for any reason - recreation or work, regardless of his status, on a work visa or with landed immigrant status, and covered or uncovered by one of the provincial healthcare plans, or awaiting coverage, a Visitors To Canada Health Insurance plan may provide the coverage. Visitors to Canada Health Insurance is intended to cover all or part of the costs associated with medical issues that are sudden and unexpected. They may not provide coverage in some circumstances like engaging in professional or dangerous sports, acts of war, etc.
An Added advantage for the Canadians is they can access the various health programs anytime and from any part of the country without any hassles in a cost effective manner.
CMA Blog Home
What is Car Insurance 2?
Be it in the country of Canada or any other place, insurance for your car is very important. The rates of the car insurance may be quite high. So here are a few tips to keep your insurance rates for your car as low as possible. The first thing to do is to shop around. This is the only way in which you will know of the best insurance that your car can get. The next thing if you have more than one car is to make sure that all the cars that you own are on the same type of policy. Most of the companies for car insurance will offer you with a discount for multi vehicles and this can go all the way up to fifteen percent which is not a small amount. By doing this you can save a lot more money than you think of. Insuring your home as well as your car with the same policy is an idea that is equally great. If you have old cars then you can also think about dropping down the collision coverage.
Make sure that you purchase collision coverage only if you think it may prove to be useful in your case. Because the older the car the deductible insurance also is low so if you do spend a lot on this collision coverage then you will be wasting your money. Driving carefully is the most important thing when it comes to car insurance. If you have a bad record of driving then the insurance premiums are generally higher. The rates of insurance for your cars are based on the history of that car. Cars that are most likely to be stolen or those cars that have been known in accidents are all those for which you will have to pay higher insurances. So make sure you drive a low risk car both for your benefit as well as for money saving.
If you are in Canada and you drive to work then the insurance rates for your car will be higher. This is because the more you are on the road, the more are the chances of you getting into accidents. If you are new to the field of driving and if you have undergone an approved driver training course then you get a discount on your car insurance. Having extra theft protection for your car will get you a discount on your insurance for your car.
All the drivers in the country of Canada will have to have at least a minimum of about $200, 000 for the third party liability coverage. This is to cover the injuries to any other person or their property when you cause an accident in the traffic. Each and every province in the country of Canada will need the drivers to carry coverage for their very own expenses when it comes to medical terms and also loss of income that results from any sort of injuries relating to driving.
CMA Blog Home
What is a Cash Advance?
If you are in the country of Canada and are facing a problem like cash crunch to the end of the month, you do not need to fret about the situation. Here is a solution that may prove to be useful in most of the cases. The option is to get a cash advance loan so that you can overcome the financial emergency of yours. This can be your savior in Canada. You can pay all your bills with no money in hand with cash advance in Canada. These loans are also available online to help solve your problems. So how will this be able to help you. This will transfer money to your account. This may however take a few hours or sometimes gets done in a matter of minutes.
These are all payday loans that range from about $1000 to $1500 dollars that are generally given to lend out for all those who need money for a short period of time. You will need to qualify for these loans and you will not simply get them. The qualification for this is very easy. An employment proof and a drawing of salary is all you need to qualify for this loan in Canada. This may prove to be really helpful especially towards the end of the month when your pockets are almost empty. There are no more formalities to this. A onetime fee is one thing that has to be paid when the lender gives back the money from the one who borrowed it from him or her.
In Canada these advances are very useful in situations of emergency.
You will never know when crisis may strike you in the form of accidents or even sickness and this is when these loans do come in handy. Do not ever over use these loans as they might put you in trouble. On the other hand there are also people who prefer only to pay the fee for this advance and then keep extending the amount for the loan. This also means that over some period of time the fees from this advance can add up to a great amount that is more than the loan itself. So keep in mind that you do not unnecessarily take these cash advances unless you are really facing a crisis situation and need some cash very badly. Even if you do take a loan, make sure that the loan is paid back without having to extend the time period by which it has to be paid.
You can also get these cash advance in the country of Canada by applying through the internet. There are a number of lenders who will be able to lend you money that comes quick with requirements that are really simple. With these online applications in this country you will not need to get out of your home or office to apply for this loan. You can simply fill an application online and then submit it with all the details and wait to get a loan.
CMA Blog Home
What are Foreclosed Homes?
When a home owner who has taken a mortgage is unable to repay his mortgage, the bank that holds the mortgage can foreclose the same after moving the court. It can sell or auction off the home to recover its initial mortgage outlay. Such homes whose mortgages are foreclosed are called foreclosed homes. But this is an extreme step taken only when the home owner is unwilling or unable to meet his obligations even after repeated warnings and grace period. Such foreclosed homes make for attractive buys for people with limited budgets and good credit history. However a buyer looking at a foreclosed home still has to pass the background check, have good credit rating and also should consult a lawyer to ensure that the house is encumbrance free. Better to look for any problems than face any unpleasant surprises at a later date.
Due to the technological developments in the last couple of decades, we in the developed world take the internet for granted and do most of our transactions online, whether work or pleasure. To facilitate viewing of foreclosed homes by people who might be interested in them, the Canadian Foreclosure Sales Inc. has created a database of all such homes that are up for sale across the country. This entire database is available online at the click of a button to anyone anywhere looking to buy property in these parts.
Until recently such listings were ambiguous ï¿½ they did not specify if a sale was court ordered or not. People had to scroll through thousands of listed residential and commercial properties before identifying ones that may be available at bargain prices due to a court order. But with this initiative that has made a foreclosed homes database available online, everyone is happy. The Canadian National and Provincial government and financial institutions have welcomed and felicitated this effort. This database has speeded up the process of sale of distressed real estate by reaching out to millions online, virtually free of cost and cutting across geographical borders.
Also this database enables the interested prospective buyer to keep track of the home he has interest in by its Listing Tracker. Since this is a national database, people from across the country put up their lists on the site. So for someone wanting to buy real estate at bargain prices, this is a one stop shop, with listings from across the country. This is now the preferred go to site for national listings of distressed court ordered sale of real estate in the country. Foreclosed homes make a sensible buy though some have turned it into a lucrative business. As the listing is done online, you can also avail the services of a mortgage broker or mortgage calculator too free of charge. This is just to speed up the process in cases where the interest is genuine. Thus such distressed properties make sound economic sense though one should evaluate them carefully before signing up and buying them.
CMA Blog Home
What is Debt Consolidation?
It is not uncommon to come across people who borrow money. In fact most of us borrow money at some point in our lives whether it is from a financial institution or from a friend. When we borrow money, it is important that we return it back on time. And when we are not able to do so, most people tend to borrow more money to repay the old loans. The process of borrowing money or taking a loan in order to repay other loans is referred to as debt consolidation. The concept of debt consolidation is very common in many countries, especially in Canada. Most people here borrow money so that they can pay off their older loans. This is mostly done in order to secure a fixed interest rate or to secure a lower interest rate or to achieve the convenience of having to serve only a single loan.
Many people do this in order to have just a single payment to make every month. For example if you have a loan to pay off on four credit cards, then you might borrow a loan big enough to repay the loans of all the four credit cards so that at the end of it all you will have to make only one payment every month. Some people find this a more easy way to make payments. The reason for this is that you will know exactly how much to pay every month and this makes budgeting easy. Also, by consolidating all your loans, you will have to pay a lower amount as interest on the borrowed money. This is because these loans have a lower interest rate when compared to unsecured loans like credit card loans. And these loans also have an extended period over which one can repay the loans.
In Canada, there are several agencies which will help you consolidate your debt. These agencies have a debt consolidation team. What these people do is they will negotiate with the people who have lent you the money and try and reduce the interest rate and the monthly payments. They will also ask them to increase the duration of time so that you will have a longer period to repay the loan. And after doing this, the counsellors will give you tips on how to keep yourself from getting into another debt. They will help you budget your money.
Like everything else, even debt consolidation has its disadvantages. Some people are scared to risk everything and wonder if it is worth it to risk their house. Only when you are confident that you can repay all your loans should you go in to consolidate your debts. Another disadvantage is that you will be paying off your debt for a longer period of time than usual. Though in some cases this might come in as an advantage, in some others it is not. So whatever it is, think carefully before taking any decision and weigh the pros and cons of it.
CMA Blog Home
What is Disability Insurance?
We humans can never predict when a tragedy, calamity or accident may befall us as we live in an uncertain and unpredictable world. Our only recourse is to insure against any unforeseen and unfortunate circumstances like death, accidents, and disabilities arising out of such accidents. When one is the sole bread winner of the family and gets involved in an accident, he has to find a way to support his family in case of such accidents and any disabilities resulting from them. Such insurance is called disability insurance. In most developed countries, such disabilities are provided for in the social security programs by the government. Or it may be provided by the employers in case of heavy machinery involved in their employeesï¿½ jobs as a matter of routine. Also in huge industries labor unions provide for such exigencies. In Canada all such benefits are tax free till the person goes back to work.
Mostly such benefits are not large but enough to just sustain the family. The disability insurance provided by the state cannot be used to comfortably live off, but serves as a safety net apart from other insurance policies an individual may have. The second most comprehensive insurance against disabilities comes from the employers as it is in their own interests to have their workers insured against getting hurt on the job. The principle is similar to that of a car owner having third party insurance, where you are liable for someone elseï¿½s injuries.
Also a company provided insurance may cover temporary disabilities too, not just permanent ones. If an employee is hurt on the job, the organization may pay him for medical expenses and to sustain himself and his family till he is able to go back to work and fend for himself. Even if the worker gets hurt or falls ill away from the job, most organizations do support the worker till he can get back on his feet and this is done with the help of group insurance for the employees provided by the company. Thus disability insurance is as vital as any other insurance to an employed person to keep his income uninterrupted in case of accidents.
There are plenty of service providers in Canada and it is the policy buyerï¿½s responsibility to check out all available offers for disability coverage and choose the one with the best possible coverage and a reasonable premium. Under Canadian law, though a non-cancelable policy costs a bit more, it has to be honored by the insurance company, while with a cancelable policy the company has the option of increasing the premium or canceling your disability insurance policy for non-compliance. Before selecting the service provider and the insurance package, take the time to study and evaluate details like availability of occupational discounts or preferred premium classification. Also calculate the elimination period (how long till you start receiving monthly benefits) and the benefit period (how long you will receive the monthly benefits) as these factors along with the amount of monthly benefits determine your premium.
CMA Blog Home
What is a Bank Ombudsman?
Any person may himself or through his authorised representative make a complaint to the bank. If the bank rejects the complaint or the complainant does not receive any reply within a month or the complainant is not satisfied with the reply given by the bank, the complainant may approach the Banking Ombudsman for redress of the grievance.
The concept of Ombudsman has gained importance in many countries worldwide as an expeditious and cost effective customer grievance redress mechanism. The Reserve Bank of India formulated the Banking Ombudsman Scheme in 1995. It covers commercial banks, regional rural banks and scheduled primary co-operative banks.
The objects of the scheme are (1) to resolve and settle complaints relating to banking services and (2) to resolve disputes between a bank and its constituent as well as between one bank and another bank through the process of conciliation, mediation and arbitration.
Grounds of complaint
A complaint can be made on any one of the following grounds:
(a) Non-payment/inordinate delay in payment or collection of cheques, drafts and bills; (b) non-acceptance, without sufficient cause, of small denomination notes; (c) non-issue of drafts to customers and others; (d) non-adherence to prescribed working hours by branches; (e) failure to honour guarantee/letter of credit commitment by banks; (f) claims in respect of unauthorised or fraudulent withdrawals from deposit accounts or fraudulent encashment of a cheque or a bank draft and the like; (g) complaints pertaining to operations in any savings, current or other account; (h) complaints from exporters in India; (i) complaints from non-resident Indians having accounts in Canada; (j )complaints pertaining to refusal to open deposit accounts without any valid reason; and (k) any other matter relating to the violation of directives issued by the RBI.
Rules for filing complaint Any person may himself or through his authorised representative make a complaint to the bank. If the bank rejects the complaint or the complainant does not receive any reply within a month or the complainant is not satisfied with the reply given by the bank, the complainant may approach the Banking Ombudsman for redress of the grievance.
Rejection of complaint The Banking Ombudsman may reject the complaint at any stage if it appears to him that the complaint made is: frivolous, vexatious, malaise or without any sufficient cause or it is not pursued by the complainant with reasonable diligence or prima facie, or if there is no loss or damage or inconvenience caused to the complainant.
Role of arbitrator Any dispute between a bank and its constituents or between a bank and another bank may be referred to a Banking Ombudsman for arbitration, if both the parties agree for such a reference provided that the value of the claim in such dispute does not exceed a few dollars.
Objective The object behind the Banking Ombudsman Scheme is to make available an expeditious and cost effective grievance redressal mechanism to bank customers. Hence he will endeavour to promote a settlement through conciliation or mediation and he will not be bound by any legal rule of evidence.
CMA Blog Home
What is Body Corporate?
'Body corporate' is an archaic term for "corporation".
A body corporate refers to an organization or group of persons that is identified by a particular name and that acts, or may act, as an entity.
When land is subdivided and registered to establish a community titles scheme, a body corporate is created. The scheme may be a duplex, a residential unit block, a shopping complex, a high rise apartment or a business park. Every owner of a lot in a community titles scheme automatically becomes a body corporate member.
Purpose: The objective of a body corporate is to manage the issues of mutual and necessary interest to all the owners. These issues fall into the categories of:
> physical property issues
> issues dealing with people living together
Physical property comprises of gardens, common building structures and shared assets such as tennis courts and recreation clubs.
Issues related to people living together may involve behavior, noise and parking or anything wherein the actions of a particular resident have an impact on the other occupants.
According to the legislation, however, the body corporate has only a limited purpose. They must ensure that the common property and the body corporate assets are administered for the benefit of the owners of lots included in the scheme; the common property is maintained to the extent that it is structurally fit; the community management statement, including by-laws affecting the common property, are enforced. They must also carry out other functions given to them under legislation.
The body corporate can enter into contracts, employ staff and generally deal with property, while fulfilling these mandatory duties. However, it cannot manage businesses, such as a restaurant, tour operation or letting agency, in contrary to a commercial company. Nonetheless, the body corporate may involve itself in business activities, such as investing funds, which are necessary to properly carry out its functions.
Decision-making: The body corporate makes decisions either at a general meeting of all the owners or at a meeting of the committee for the body corporate. No individual can make a decision, acting in isolation.
Finance: Every lot owner of the body corporate contributes in the form of levies, which are pooled to maintain the community and common areas. The amount and how often the contributions are to be made, in order to properly run the body corporate, are decided by all owners at the yearly general meeting.
The Canadian corporation: Both the provinces and the federal government in Canada have corporate statutes, and hence the incorporation is either federal or provincial/territorial. The Acts of Parliament passed before the introduction of general corporation law caused many older corporations to rise in Canada.
The Hudson's Bay Company is the oldest corporation in Canada. Though the Company's business has always been based in Canada, its Royal Charter was issued in England by King Charles II in 1670, and became a Canadian charter by amendment in 1970 when it shifted its corporate headquarters from London to Canada.
Since 1975, the main law regulating the incorporation in Canada is Canada Business Corporations Act (CBCA). The government firm responsible for the incorporation is Corporations Canada.
CMA Blog Home
What is Canadian-money-advisor.ca?
Canada is one of the most well developed nations in the world. Being developed obviously means that it is also a very prosperous country. The standard of living of people in this country is pretty high and the job opportunities are plenty. Canada is the second largest country in the world today, not in terms of the population but in terms of area.
When people start making money, the next thing is to make proper use of it. That is to say that the more money people make, more are the chances for investing it and investing money is something that everyone should do. It is important to learn the art of saving as one should always have something put away for the rainy day. One can never say when things can go wrong and it is better to be prepared for the worst than be unprepared.
When it comes to investing, the Canadians are a lot who make very wise decisions. They seek the help of experts in the field and make sure that their money is invested wisely and safely. The Canadian-money-advisor.ca is a website which helps the Canadians to make decisions regarding different investment plans. The website caters to all the needs of the people advising them on everything from what are the best investment plans to how much to invest and when to invest.
The Canadian-money-advisor.ca is a website that was developed with the sole purpose of helping the Canadians with their financial planning. Not everyone can afford legal experts. It is something that is meant only for the rich. The Canadian-money-advisor.ca serves as a source of information on where and how to invest money for those who cannot get advice from legal experts.
The website has information that is got from several different sources. Also, the people who use this website share whatever information they know about the various financial institutions. This helps others to take their decisions based on what the people who have invested in a particular company have to say.
There are a number of links that the Canadian-money-advisor.ca use to research and gather their information. Some of the links that they use for the purpose of research include Alberta Justice, British Columbia Justice, Nova Scotia Justice, Prince Edward Island Justice, Ontario Attorney General, etc. the information that has been obtained from various sources is consolidated by a team that works for Canadian-money-advisor.ca and put up on the website for the use of the general public.
This website is very resourceful and has answers to almost every query a person might have. The people who use this site can also post their questions or doubts which will be answered by the website. So the Canadian-money.advisor.ca serves as a one stop destination for any queries that a Canadian will have on investment. So if you happen to be looking for a good financial advisor, all you have to do is just log onto Canadian-money-advisor.ca and get the best advice there is to get regarding different investment plans.
CMA Blog Home
What is a Canadian Money Advisor?
Canada is one of the well developed nations in the world today. It is a very prosperous country with most of its people leading a very comfortable life. It happens to be the second largest country in the world today, not in terms of population but in terms of area. It occupies most of the northern part of the North American continent. The standard of living is pretty high here and there are plenty of job opportunities. And with the increase in job opportunities comes increase in money. And with the increase in money comes the need to invest it wisely. This is where the Canadian money advisor comes into play.
It is not enough for one to make money. What is more important is to spend this money properly and carefully. It is very important that one learns the art of saving. It is true that one makes money to spend. However, care should be taken to ensure that there is always some money that has been kept aside for the rainy day. There is no way of predicting what can happen so it is always better to be prepared than be sorry later on. So it is very important that the money we earn is invested wisely and in the right way.
Canadian money advisor is a website that helps a number of Canadians to save and invest their money wisely. As already mentioned, saving money is a very important thing to do and more importantly, it should be done the right way. There are a number of people and organizations which claim to help people invest their money. However, when selecting an agency of organization, the person should be very careful as one can very easily be misguided.
The Canadian money advisor is a very authentic website whose sole aim is to make sure that the Canadians invest their money in the right way. It offers a lot of services for its customers. Whenever one needs any help in deciding how to invest his or her money or where to invest it, all one will have to do is log onto the website and post the question online. The website has its own set of experts who will help you in making the right decisions. Apart from this, you can also get the opinion of others who have invested in the company you are planning to. If you want to know anything regarding the Canadian stock market, you will be able to get all the information on Canadian money advisor.
This website is very user friendly and even if you do not know much about computers, you will soon find that it is very simple and easy to use this site to get information. So make it a practice to invest a part of your earnings as it is very important and whenever you need any advice on how to invest your money, just log onto Canadian Money Advisor, one of Canada’s best investment advisors.
CMA Blog Home
Subscribe in a reader
Enjoy our "What Is This?" articles
• Credit Repair
• Making Money
• Saving Money
• Retirement Planning
Comments on our
Canadian Credit Cards
Best Canadian credit debt Financial Blog
Canada, British Columbia (BC), Alberta (Alta), Saskatchewan (Sask), Manitoba (MB), Ontario (Ont), Quebec (Que), Newfoundland (Nfld), New Brunswick (NB), Nova Scotia (NS), Prince Edward Island (P.E.I.), credit canada, Canadian