consolidation loan

consolidation loan

Installment loan that pays off two or more older-loans with a new loan. A consolidation loan usually has a longer payback period, and an installment amount that is lower than the combined total of the installment amounts of the paid off loans.

Hst and contracts

Have you been keeping an eye on the monthly fees for your service contracts? How are you capturing and reporting on your service contracts?

The addition of the hst to service contracts has left several record keeping methods in dire needs of a tune up.

If you have not been adding the monthly increase of the tax to your monthly record keeping for your service contracts then you are for spootacular surprise when you reconcile your books.

If your in ontario then be sure to revisit your tax values being used to calculate costs.
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Free Download -- 30 Second Real Estate Analyzer BlackBerry App

http://blackberryspecial.blogspot.com/2010/10/how-to-use-30-second-real-estate.html

The "30 Second Real Estate Analyzer" BlackBerry app is currently available for free download from BlackBerry App World.

The BlackBerry application can be used by investment property seekers to help find cash positive properties.  The application is only the beginning of your analysis and you will have to complete an indepth analysis of the revenues and expenses before committing to purchase any property.

Simply enter in the expected purchase price of the property and the anticipated monthly rents.  Once you hit calculate the application will provide you with an initial analysis of whether or not you should add this property to your short list or does it identify it is a Red Alert.  A Red Alert means that the property is already cash negative before even getting into all of the additional expenses.

Enjoy the free download and stay tuned for the next release which will provide more analysis power and real estate investment education.

Happy hunting!

The art of personal finance

Can you consider personal finance to be an art form? What I mean is if you believe that the discipline of credit card spending, coupon clipping, groupon reviewing or even price matching is a skill that develops over time.

For example, what sepaerates your personal finance skills from the person next to you? Each person has their own personal finance style that makes them unique. I love to price match and review before making any purchase. Its not the art of war, but the art of saving that is a critical skill.

How do you define your personal finance art form?
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Td trust

News Releases TD Canada Trust changes residential mortgage rates Canada NewsWireCanada TORONTO, Oct. 12 /CNW/ - TD Canada Trust has changed its mortgage rates, effective October 13, 2010. The changes are as follows: <<
Fixed Rates To: Change:
-----------
6-month convertible 4.45% N/C
1-year open 6.70% N/C
1-year closed 3.40% -0.10%
2-year closed 3.55% -0.15%
3-year closed 4.10% -0.15%
4-year closed 4.94% -0.10%
5-year closed 5.29% -0.10%
6-year closed 5.70% -0.10%
7-year closed 6.09% -0.10%
10-year closed 6.40% -0.10%

Special Fixed Rate Offers To: Change:
-------------------------
1-year closed 2.50% N/C
4-year closed 3.79% -0.10%
5-year closed 3.89% -0.10%
7-year closed 4.75% -0.10%
10-year closed 5.09% -0.10%
>>

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Bank of canada mortgage rates

Bank of Canada maintains overnight rate target at 1 per cent OTTAWA - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.  The global economic recovery is entering a new phase. In advanced economies, temporary factors supporting growth in 2010 - such as the inventory cycle and pent-up demand - have largely run their course and fiscal stimulus will shift to fiscal consolidation over the projection horizon. While the Bank expects that private demand in advanced economies will become sufficiently entrenched to sustain the recovery, the combination of difficult labour market dynamics and ongoing deleveraging in many advanced economies is expected to moderate the pace of growth relative to prior expectations. These factors will contribute to a weaker-than-projected recovery in the United States in particular. Growth in emerging-market economies is expected to ease to a more sustainable pace as fiscal and monetary policies are tightened. Heightened tensions in currency markets and related risks associated with global imbalances could result in a more protracted and difficult global recovery.  The economic outlook for Canada has changed. The Bank expects the economic recovery to be more gradual than it had projected in its July Monetary Policy Report, with growth of 3.0 per cent in 2010, 2.3 per cent in 2011, and 2.6 per cent in 2012. This more modest growth profile reflects a more gradual global recovery and a more subdued profile for household spending. With housing activity declining markedly as anticipated and household debt considerations becoming more important, the Bank expects household expenditures to decelerate to a pace closer to the rate of income growth over the projection horizon. Overall, the composition of demand in Canada is expected to shift away from government and household expenditures towards business investment and net exports. The strength of net exports will be sensitive to currency movements, the expected recovery in productivity growth, and the prospects for external demand.
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waste reduction week in ontario

This Week is Waste Reduction Week in Ontario and across Canada.

 

Waste Reduction Week, run through the Recycling Council of Ontario, aims to inform and engage people about the environmental and social ramifications of wasteful practices. It strives to educate, engage and empower everyone, especially students to reduce, reuse and recycle waste.

 

Waste Reduction Week is about ideas to reduce waste in all facets of daily living, creating the solutions to the many environmental challenges we face including climate change, water pollution and preservation of natural resources.

 

Ontario has created an informational video regarding Waste Reduction Week which can be found here: http://www.youtube.com/watch?v=y2gP7jWdrVY

 

If you would like more information on how the Ontario Ministry of the Environment is working to improve our environment you can contact me or visit the following link: http://www.ene.gov.on.ca/

 

Thank you,

 

Grahame

 

 

Grahame Rivers

Press Secretary

Office of Hon. John Wilkinson

Ontario Ministry of the Environment

 

o. 416 314 6736

c. 416 275 9149

e. grahame.rivers@ontario.ca

t. @riversgr

Types of business models

sole proprietorshipSimplest, oldest, and most common form of business ownership in which only one individual acquires all the benefits and risks of running an enterprise. In a sole-proprietorship there is no legal distinction between the assets and liabilities of a business and those of its owner. It is by far the most popular business structure for startups because of its ease of formation, least record keeping, minimal regulatory controls, and avoidance of double taxation.
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Business term: synergy

 synergy

State in which two or more agents, entities, factors, processes, substances, or systems work together in a particularly fruitful way that produces an effect greater the sum of their individual effects. Expressed also as 'the whole is greater than the sum of its parts.' For example, two (or more) employees who excel together but are ordinary when working alone are said to have synergy.

Cash positive

I'm working on a blackberry app to be sold on blackberry app world that will allow you to enter a purchase price and anticipated rent value. This will allow you to determine if the initial assessment of your listing should be sent to your shortlist or taken off the table right away.

The blackberry app will be connected to mls.ca and realtor.ca listings in later versions.

Once rim approves the blackberry app then I will provide the link to blackberry app world for you to review. It is currently being listed as a free blackberry app.
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Eco tax ontario

We recently had an email sent to us to provide more info on the eco tax in ontario. Here it is in full.

Hi, My name is Jonathan Rose and I work at the Ministry of the Environment.

I recently noticed your blog and thought I would say hi and provide some additional information about our simplified municipal hazardous waste program.

 This simplified program removes the confusion surrounding the eco-fees rolled out on July 1. Those fees are gone permanently. They will not be coming back. We are partnering with municipalities to divert fire extinguishers, rechargeable batteries, pharmaceuticals and sharps, CFL light bulbs, and products containing mercury. Consumers can now take them back to their municipal depot or their local Environmental Days easily and free of charge. This is the best way to ensure we divert more products from our landfills in a way that's transparent and easy for consumers. 

We held a media event in Toronto this afternoon. You can find our press release, a video and what every Ontarian can do to protect the environment athttp://bit.ly/dzmu64and of course, if you have any questions, I would be more than happy to answer them. 

Thanks, 
Jon
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Living within your means

Don't bite off more  HOME than you can chew. How much house can you comfortably afford?

For most people the answer is a house with a purchase price of no more than 4x their annual household income. Rationale: the cost of a home includes much more than the monthly mortgage payment. It's also property tax, insurance, upkeep, etc.

Typically these costs run 2%-3% of the price of your home each year. Assuming a 20% down payment, a 5 year fixed rate mortgage, amortized over 35 years, and interest rates in the 4%-5% rate, the 4x your income rule of thumb will translate into total housing costs of roughly 30% of your gross income.

Don't let your CAR drive you to the poor house. The same logic applies to your car.

Most people can comfortably afford a car that is one-third of their annual income. If you make $60,000 you can comfortably afford a car that costs $20,000. If that seems low - now you know why so many people are in financial trouble. They are driving it. A car has many other costs than simply the monthly payment. There's insurance, gas, parking, maintenance, etc.

If you follow this rule of thumb, your total transportation costs should be 10% or less of your gross income. Read
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