Ten Free Tools For 2015 Budgeting

Information gathered mostly from Time Inc. article by Wise Bread.
Why is there a need for a new budget for 2015.


Gas prices have gone down making the likelihood of some savings more realistic could be a reason. Or you have overspent the holidays may be another. At any rate creating a new budget for your financial plans for 2015 may be a necessity.
Newer budgeting tools does better in tracking expenses to help you attain your financial goals:


1. Mint
Mint gives the ability to view accounts, investments & etc. on a single platform. It allows you to have an unlimited number of budgets. Compatible with smartphones and tablets.


2. Personal Capital
Similar to Mint Personal Capital is said to be snappier but not as robust. They also offer advice and management for a fee.


3. Buxfer
Buxfer allows you to send money to friends and family inline in addition to the capabilities of 1 & 2 above.


4. BudgetPulse
Being web-based may be preferable if you do not want to link all your accounts. BudgetPulse may require more manual entry work but you may find some easy-to-adjust budgeting tools.


5. Level Money
Level Money provides an additional feature called "spendable cash" to know how much cash you have left for spending.


6. GnuCash
More geared for personal and small business accounting GnuCash works on most computer platforms. It is based on the double-entry accounting system, very robust but may be confusing requiring some sophistication in accountancy.


7. Spendee
Where is you money going? That's Spendee 's strength. Not as robust as the others but may be good enough for tracking spending.


8. HomeBudget
Good for couples who wants to budget together. HomeBudget is compatible with iOs, Android, and desktop platforms. Good syncing capability. Downside- costs $4.99.


9. Paper Envelopes
Have a handful of plain white envelopes handy, fill each envelope with cash for budget items from your old budget. Once envelope is empty- there's no more to spend, so make the necessary adjustment. Can help you reduce dependency on credit cards to control spending.


10. Microsoft Excel
May seem outdated. Here's a simple monthly budget template to compare income and expenses.


Choose the one that suits you best.

Is Canada's Housing Market Overvalued?

Excerpted from The Globe and Mail
December 10, 2014

Canada's housing market overvalued by as much as 30%: BoC

By BARRIE MCKENNA

New model says prices may now have overshot by anywhere from 10 to 30 per cent

The Bank of Canada has acknowledged that the country's housing market may be overvalued by as much as 30 per cent as a long-awaited soft landing remains elusive.
The bank based the estimate on a new model it has developed, details of which are contained in its twice-yearly assessment of threats to the Canadian financial system released Wednesday.
The bank said Canadian house prices have been overvalued by at least 10 per since 2007, and may now have overshot by anywhere from 10 to 30 per cent.
The range is significantly higher than estimates by the International Monetary Fund (10 per cent) and Canada Mortgage and Housing Corp., which judges there is a "moderate degree of overvaluation."
Bank Governor Stephen Poloz acknowledged Wednesday that "some financial vulnerabilities appear to be edging higher."
These include a growing appetite in Canada for subprime mortgages and risky auto loans, triggered by sustained low interest rates.
But Mr. Poloz pointed out that the risk of adverse shocks to Canada's financial system, including a spike in global interest rates or a re-emergence of the euro crisis, are lower now than six months ago, leaving the "overall stability risk roughly the same as in June."
The bank is still expecting a soft landing in housing, and that may already be happening in Eastern Canada. But it said prices are still rising in cities, such as Toronto, Calgary and Vancouver.
In Toronto, for example, the bank warned of the risk of an "impending overbuild" in the condominium market.
Rapidly escalating prices are also hitting the commercial real estate market, which the bank called dramatic. Average per square foot values are up 39 per cent since 2009, led by downtown Calgary, where prices are up 50 per cent.
Among the worsening "vulnerabilities," the bank's Financial System Review pointed to a growing subprime mortgage market.
"A more worrisome aspect of this trend is that a sizeable proportion of new uninsured mortgages are being issued to riskier borrowers," the bank said.
About 35 per cent of new, uninsured mortgages by smaller federally regulated banks since the end of 2012 could be considered non-prime, according to the report.
The bank said various less-unregulated institutions are also getting into the subprime market, which was famously blamed for helping to trigger the financial crisis in the U.S. in 2008.
The share of mortgages in Canada that are considered subprime remains in single digits.
The bank also expressed concern about the auto loan market, where it said borrowers with low credit scores now account for roughly a quarter of all new loans.
"Riskier loan characteristics, such as longer loan terms and higher loan-to-value rations, have become more common," the report said.
The growth in auto loans has doubled to more $120-billion since 2006, "substantially outpacing" all other forms of household borrowing. Auto lending has grown by an average of 9 per cent since 2011, versus 4 per cent a year for overall household credit.
The report said growth has been driven by strong auto sales, increased lending by major banks as well as new entrants, such as credit union, insurance companies, foreign financial institutions and "unregulated entities."
Low interest are also causing "increased risk taking in financial markets," according to the central bank. One manifestation of the trend is that investors are shifting to corporate bonds from government bonds.
The report said the main risks to Canada's financial system are the same as in June – the possibility of housing crash, an interest rate spike, financial stress in Europe and a banking crisis in China.

Are You A "Snowbird"? Things you need to know..

A basics guide for first-time snowbirds

By Gail Johnson | Pay Day – Fri, 31 Oct, 2014 1:30 PM EDT
Excerpted from Yahoo Finance

  CBC/CBC-Nova Scotia snowbirds can now bask in the heat for an extra month without risking losing their health coverage.

With winter just about here, snowbirds are busy packing their bags for warmer climes. First-timers will want to take with them a few money tips to make the pilgrimage a smooth one.   

For starters, open a U.S. bank account.


“Snowbirds should have a U.S. banking relationship,” says Alain Forget, RBC’s head of sales and business development, who’s based in Ft. Lauderdale. “There are a lot of differences between U.S. and Canadian banking, and snowbirds — who spend between one and six months down south — need to be knowledgeable about them.”


For instance, you can’t write post-dated cheques in the States.
“Let’s say they purchase a condo and have to give condo fees monthly and want to give a series of cheques for 10, 12 months ahead of time; they can cash those cheques right away,” Forget says.

You can either open a U.S. account with a Canadian financial institution or at an American bank, though there’s no guarantee you’ll get accepted at the latter.


“Each bank has its own rules with regards to this,” says Jolene Laing, associate director of global wealth management at ScotiaMcLeod in White Rock, B.C. “Generally you will need government-issued ID, like a passport or driver’s licence and perhaps a recent piece of mail — a bill is best — to prove your current address in Canada [to apply].


“You may be required to keep a minimum balance in your chequing account or be subject to a low credit-card limit until you build U.S. credit,” she adds.

What you Need to Know About the Toronto Land Transfer Tax!

From TREB News release:


A new study, released in April 2014, conducted by Altus Group Economic Consulting, found a significant loss of economic activity in the City of Toronto, and a corresponding loss of thousands of jobs, due to the Toronto Land Transfer Tax. The study found that between 2008 and 2013, the Toronto Land Transfer Tax is responsible for:

• a loss of $2.3 billion in economic activity
• a reduction of $1.2 billion in GDP
• a loss of 14,934 full time jobs
• a loss of $772 million in wages and salaries
• a loss of 38,278 home transaction

Why I Love Toronto.

Eight reasons to love Toronto: Hume

Toronto isn’t always an easy city to love, but there are reasons for optimism.

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VINCE TALOTTA / TORONTO STAR FILE PHOTO

The profusion of neighbourhood festivals, such as the colourful Khalsa Day parade, which winds its way through the city every spring, helps make Toronto an easy city to love.

By: Christopher Hume Urban Issues, Published on Mon Sep 08 2014

Toronto isn’t always an easy city to love. Like any metropolis, it has its problems. We all know what they are. But there are reasons for optimism. Here are a few:

The festivalization of Toronto. The profusion of neighbourhood festivals, street closures and other pedestrian-empowering events has given Torontonians new ways to inhabit and experience the city. Despite the backlash, this move towards more intense forms of urban engagement will only grow. As the population increases, so will the pressure for an enhanced public realm.

Congestion. Like the weather, traffic jams are the stuff of daily conversation, extensive media coverage and popular outrage. We’re quick to blame construction, road work and the like, but congestion is a sure sign of a healthy city. Though we could make much better use of our roads, gridlock will never go away. However irritating, it is the price of success. And Toronto is a very successful city, the envy of the world. Besides, for people happy to line up for Tim Hortons and Starbucks, how bad can it be?

West Don Lands. Mention the words “new neighbourhood” and visions of yet another slapped-up subdivision come to mind. The West Don Lands is something quite different. Organized around Corktown Common, this enlightened mid-rise precinct includes the city’s first woonerfs, streets designed for bikes and pedestrians as well as cars. Wide sidewalks, striking architecture and a mix of housing and uses speak of the enormous powers of planning.

The rash of great buildings nearing completion. The University of Toronto’s Goldring Centre for High Performance Sport, Ryerson University’s Student Learning Centre on Yonge St. and the Ismaili Centre/Aga Khan Museum of Islamic Art at Eglinton and Wynford Dr. are brilliant examples of how architecture is bringing new richness to the city. As well as providing new opportunities, each of these structures resolves the traditional distinction between beauty and utility. Form is as much a part of these three buildings as function.

The TTC’s new streetcars. Though only two are in service, the Toronto Transit Commission will eventually operate 204 of these stylish low-floor vehicles. Long, lean and light-filled, they will hum where their predecessors groaned. They also confirm the city’s affection for streetcars, which, though not universal, runs deep.

New neighbourhood amenities such as Regent Park on Dundas St. E. and Reading Spouts Garden next to the Jane/Sheppard Library. The latter is a small hard-surfaced pocket park that fills a small site formerly occupied by a hydro substation. Returning the space to residents has already changed the area. The much larger Regent Park is a stage set as well as a green space centred around a long, linear playground, an outdoor kitchen, playing field and a concrete plaza. Recreation is now built into the community.

The Vertical City. No one wants to live next to a condo tower, but there’s no shortage of people willing to live in one. Though some decry downtown Toronto’s growing stock of residential skyscrapers, their appeal has nowhere to go but up. Despite questions about unit size, building quality and materials, high-rise life has three big advantages — location, location, location. Once the issue of family-friendly apartments has been sorted out — as it will be — the city will be transformed yet again.

Dog walkers. They are the urban pioneers who coldly go where no Torontonian has gone — the shadows of the Gardiner Expressway, the empty lots and weedy verges. They are heralds of the new city, where every parcel of land serves a purpose, intended or otherwise. They are the ones who civilize the urban wastes and return them to circulation.

Christopher Hume can be reached at chume@thestar.ca

The 'Housing Bubble' bursting. Find out what other economists think

Low mortgage rates will continue to fuel Toronto home sales Add to ...

Carolyn Ireland

The Globe and Mail

Published Thursday, Sep. 11 2014, 10:46 AM EDT
Last updated Thursday, Sep. 11 2014, 4:35 PM EDT

 

Toronto’s sizzling summer real estate market appears set to remain hot right through the fall.

John Andrew, a professor at Queen’s University, is watching with interest for the August numbers that the Canadian Real Estate Association will report in the coming days.


Low mortgage rates fuelled property sales in cities across Canada, with Toronto, Vancouver and Calgary seeing the most action, he says.

  

 

Prof. Andrew, who is the director of the executive seminars on corporate and investment real estate at Queen’s, predicts September and October will bring more of the same.

“I don’t think we’re going to see a significant downturn in sales until we see an uptick in mortgage rates.”


And when he says an uptick, he’s not referring to a month or two of gently rising rates – he’s talking about a sustained upward trend.


The Toronto Real Estate Board reported that sales rose 2.8 per cent in the Greater Toronto Area in August from a year earlier, while the average selling price rose 8.9 per cent. Prof. Andrew says the increase in sales in August came on a drop in listings.


The market is still fairly balanced, he says, but it could tip over to a sellers’ market. He wonders if that, in turn, will encourage more homeowners to list their properties for sale. “As soon as people realize it’s a sellers’ market, they say ‘maybe it’s a good time to sell our house.’ ”


Prof. Andrew notes the contrast between this year and last, when a sudden shift in the market came right after Labour Day. Last summer, mortgage rates edged up between June and September. Many people hadn’t been paying attention and that led to a sudden burst of buying in September when people were spurred on by the fear that rates would climb even higher.


Fluctuating bond yields have brought about the movement in mortgage rates over the past year.
The professor also points out that he used to make a note in his calendar of the days when the Bank of Canada’s interest rate committee was set to meet. He could expect a lot of calls from media on those days. More recently, those meetings have become a non-event, he says, because no one expects the central bank to make a change.


The low mortgage rates through the summer of 2014 may have attracted more marginal buyers who will struggle to pay their mortgages when rates eventually rise, some economists warn.


David Madani of Capital Economics cautioned this week that imbalances in the market for newly-built houses and condo units point to a looming slowdown. In the new-house market, starts are running ahead of demographic demand, the economist warns. Inventories remain high for new units despite the incentives offered by developers.


Meanwhile, this week, a buyer stepped up to purchase that mid-town Toronto house with nearly its entire backyard taken up by a koi pond. The house at 552 Merton St. was a Globe Real Estate “home of the week” in August.


The house, with an asking price of $1.099-million, had a dozen or so koi living in a 132,000-litre pool.


Real estate agent Bruce Cram of ReMax Hallmark Realty Ltd., who represented the seller, scheduled a date to review bids from potential buyers but that date passed with no offers.


Mr. Cram believes the lack of offers had nothing to do with any summer doldrums in real estate; the market was buzzing and swarms of people came through the house. He says people were intrigued by the koi pond but they couldn’t get their heads around it. “There was a ton of interest,” he says, “but if it wasn’t their passion they wouldn’t know what to do with it.”


The new owner is unsure of what to do with the pond, Mr. Cram says. “She perceives it may be too much to maintain.”
For now, the koi keep swimming.

Follow Carolyn Ireland on Twitter: @CarolynIreland

New Condo In The Heart of Woodbridge- Watch for it in February 1015

This unit is was taken off the market per request of the Vendor and will back in the market this coming February 2015!

Dare to compare this unit with similar condos in the $500K range downtown!

Welcome to 7730 Kipling Ave, #604

Yours at a very affordable price- $359,000

Call Alex at 416 887 5193



A 2 bedroom, 2 washroom affair



Label: Alex and Rodney's Listing
Click for more pictures

Courtyard

Cozy living room