Buying Glasses Online (Clearly.ca Review)

Saving money on glasses and contacts by purchasing online.

My eyes aren’t horrible, but my long-distance vision is bad enough that I need to wear glasses. What does that make me, near sighted or far sighted? I can never remember which is which! I’ve worn glasses for about 15 years and only started wearing contacts a couple of years ago, and even then I still wear glasses more often than not.  If you’ve ever had to shop for glasses you’ll know that buying them from your optometrist’s office can be CRAZY expensive…my first pair of glasses were almost $400, and that was 15 years ago! That’s a ton of […]

Continue Reading

Home Buying Series: Home Buyer’s Plan (HBP)

How to use the Home Buyer's Plan to help save your down payment.

Our home buying series continues and this week we are looking at the Home Buyer’s Plan; a convenient tool that helps you use your RRSP’s for buying your first home. The last couple of weeks we’ve been talking about Renting vs. Buying and Saving Your Down Payment.  With the Canadian housing market the way it is, it can feel impossible to save enough money up for a down-payment on your first home. You need to have a minimum of 5% for a down-payment to get a mortgage, and any down-payment under 20% requires insurance coverage through CMHC (Canada Mortgage and Housing Corporation) which […]

Continue Reading

Home Buying Series: Saving Your Down Payment

Tips for saving up your down payment fast.

Continuing on with our Home Buying Series this week and today we’re turning the focus on the good old down payment. Last week we talked about the pros and cons of renting vs. buying so if you missed that you can check it out here.  You’re ready to buy a house…how exciting!!! Happen to have a spare $50,000+ kicking around? Probably not but the chances are that’s what you’re going to need to save up to put down a solid down payment. In Canada, you have to put down at least 5%, and if you want to avoid paying for […]

Continue Reading

Home Buying Series: Renting vs. Buying

Ready to buy or should you keep on renting?

Buying your first home is most likely the biggest financial decision you will ever make so over the next few weeks we’re going to delve into that process with a new Home Buying Series. We’ll start off today by figuring out if you’re ready to jump into home ownership and continue through all the steps including posts about the Home Buyer’s Plan, mortgages, closing costs, etc.    First things first, are you even ready to buy? The common bias is that it is always better to buy than to rent but you need to know that there are pros and […]

Continue Reading

Are Group RESPs a Good Thing?

Should you consider a group RESP to save for your child's education?

I’ve talked on the blog about RESP’s before (you can find that here), but one thing I haven’t discussed is whether or not you should do your RESP saving through one of those Group RESP programs that are floating around. Short answer…not so much, but let’s talk about why.    The basic premise (aka the sales pitch) actually sounds pretty good. You invest your money with a whole bunch of other parents who have children born in the same year, and you’ll get a share of the investment when your kid ends up in post-secondary. The perk comes from any kids […]

Continue Reading