You’ll want to watch this to avoid some nasty scams!
Did you know? THOUSANDS of Canadians are defrauded every year! That’s why it’s so important to get informed and start recognizing scams. Awareness is the first step to better protecting yourself! Plus, in case you didn’t realize, it’s Fraud Prevention Month! Why should you care? The Financial Post reported 84% of Canadians particularly worry about online fraud; 77% agonize over malicious social media apps; 72% fear email phishing; and 61% fuss about fraudulent smartphone apps. We Canucks also continue to cry foul about traditional forms of fraud: 91% worry about identity theft and 87% worry about debit card fraud.
What’s even more alarming for us in particular, other studies show young people (aged 18-30) are easy targets for fraud! Youth are much less suspicious about sharing personal information online compared to seniors (66 and older), according to the same Financial Post article. All generations were found to have bad online habits, but youth were most likely to share sensitive personal details online (32%), versus 24% of those aged 31-45, 14% of baby boomers (aged 46-65), and 9% of seniors.
When you realize it costs the Canadian government about 83 cents to issue a printed cheque and around 11 cents for each direct deposit, you can probably understand the cost-cutting decision to phase out cheques (except in unique situations) as of April 1, 2016. The deadline is about a year away; but after that date, all payments issued by the federal government – including Old Age Security, Canada Pension Plan, GST/HST payments and tax refunds just to name some – will be made by direct deposit, rather than show up in your mailbox.
The majority of Canadians have already enrolled for direct deposit. So if you’re part of the minority that hasn’t done so yet, read the following details to get on board before you miss the deadline!
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Every year Canadians waste $27 billion worth of food, according to Statistics Canada. That’s about 40% of all the food we produce in our country! But you can change that. Click on my super clean fridge below to find out how organization can help you reduce waste, save money and balance your budget!
You’ll be surprised these pointers aren’t common sense…
From what I hear and read, retirement planning in Canada used to be pretty straightforward: open a Registered Retirement Savings Plan (RRSP), decide how to allocate your assets, make contributions and – in theory anyway – watch your money grow! But this all changed when Tax-Free Savings Accounts (TFSAs) arrived on the scene in 2009. Now Canadians have more options to decide what retirement savings products fit best with their financial goals: RRSP, TFSA or a combination of both. I’m no expert, so it’s best to reach out to your financial adviser for more information.