Search found 37 matches

by spencer
Tue Dec 02, 2008 3:35 pm
Forum: Bargains & Discounts & Coupons & Saving Tips
Topic: Emergency savings
Replies: 6
Views: 9987

Re: Emergency savings

proplanner wrote:You should have that much of amount that can help you in any type of financial problem.


Especially in a bad economic environment like this.
by spencer
Tue Dec 02, 2008 3:33 pm
Forum: Real Estate Investing
Topic: Toronto's real estate
Replies: 11
Views: 12495

Re: Toronto's real estate

proplanner wrote:If you compare it with other channels of investments like stocks or funds, real estate won't fluctuate like they do.

Of course it will fluctuate. For example the Toronto real estate prices in October 2008, were 13% lower compared to October 2007 and this is just the beginning.
by spencer
Tue Dec 02, 2008 3:30 pm
Forum: Commodities Investing
Topic: Commodity Calendar 2009
Replies: 1
Views: 6126

Re: Commodity Calendar 2009

This looks like agreat calendar for commodity investors. Are you associated with this company?
by spencer
Tue Dec 02, 2008 3:29 pm
Forum: Personal Loans
Topic: Personal Loan interest
Replies: 5
Views: 4989

Re: Personal Loan interest

Buying a property with personal loan, can get interest deducted in our taxes. If get a conventional mortgage, interest tax is deductible. Can't deduct the interest from the personal loan, but you can deduct the interest from the home loan. The interest you pay on your mortgage is not deductable on ...
by spencer
Wed Jun 11, 2008 8:18 pm
Forum: Equity Investing
Topic: Where to invest?
Replies: 4
Views: 7930

Re: Where to invest?

The majority of these bank advisors are useless. I few years back I was talking to one of them and I asked her a simple question, something like "What was my average yearly percentage gain on mutual fund ABC for the last 2 years?". She blurted something and finally said that she doesn't kn...
by spencer
Wed Jun 11, 2008 8:13 pm
Forum: Real Estate Investing
Topic: Toronto resale housing market in May, 2008
Replies: 2
Views: 2893

Re: Toronto resale housing market in May, 2008

I don't think that the new land transfer tax on Toronto real estate, has much to do with the sales decline. The Toronto real estate market has been over-inflated for years now, and now is payback time. I pity all the fools who bought houses here in the last 2-3 years. Most of them are still sitting ...
by spencer
Wed Jun 11, 2008 7:43 pm
Forum: Personal Loans
Topic: Personal Loan interest
Replies: 5
Views: 4989

Re: Personal Loan interest

This will depend on the interest rate of the loan. For example if you borrow $3,000 for 2 years, with interest rate of 10%, you'll be paying 138.43 per month. I've used the calculator below to calculate this:

http://www.canadabanks.net/Loan-Calculator.aspx
by spencer
Wed Jun 11, 2008 7:38 pm
Forum: Personal Loans
Topic: Payday Loans - Good or Bad?
Replies: 5
Views: 4821

Re: Payday Loans - Good or Bad?

I think payday loans are really bad and one should never take a payday loan. Borrow money from a friend or from your family but never take a payday loan. I wouldn't recommend borrowing from friends or relatives either. In my experience this type of loans is rarely repaid, which results in tensions ...
by spencer
Wed Jun 11, 2008 7:36 pm
Forum: Banking
Topic: What is your favorite Canadian bank?
Replies: 6
Views: 10790

Re: What is your favorite Canadian bank?

Yeah, Scotiabank is really bad. I've never seen so rude and unprofessional customer service.
by spencer
Wed Jun 11, 2008 7:34 pm
Forum: Mortgages
Topic: Home Equity Line of Credit
Replies: 2
Views: 2958

Re: Home Equity Line of Credit

Home Equity Line of Credit is essentially a credit line, which uses your home as a collateral. For example you want to buy a house for $500,000 in Toronto, and you want to do it with HELOC. You go to Royal Bank of Canada (or whatever bank you are banking with) and apply for HELOC. The bank will do a...

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