Author Archive

Are you flushing $580 down the toilet?

Are you flushing $580 down the toilet?
A leaky faucet or toilet is literally money going down the drain. Instead, spend a weekend (or a few hundred dollars for a plumber) and you’ll save a chunk of change each year. A tap that leaks only one drop of water per second adds up to 10,000 litres of water lost over the course of a year — that’s the equivalent of 70 baths! True: the cost isn’t going to break the bank — about $30... 

Secrets of the rich: Use other people’s money

Secrets of the rich: Use other people’s money
Want to build a real estate empire or grow a business from scratch, but you don’t have the cash? Try a little leverage. Borrow to buy real estate It was the mid-1980s and D.G. Southen was only 24 years old when he bought his first investment — a house near the University of Western Ontario in London, Ont. He borrowed $20,000 from his parents to put a down payment on an $80,000 house. To pay the... 

Secrets of the rich: Keep more of what’s yours

Secrets of the rich: Keep more of what’s yours
Believe it or not, the top 10% of tax filers by income pay just 16% in taxes. Do they know something you don’t? Split your taxes Chad DeGraff, a 39-year-old securities lawyer in Toronto, recently figured out a way to save an amazing $25,000 on his taxes over the next five years. Chad has an $800,000 investment portfolio that spins off about 5% a year in income (about half dividends, half interest... 

The cost of phantom accidents

The cost of phantom accidents
If there are mistakes on your driving record, your insurance premiums can soar. In the last five years, did you get three speeding tickets or four? If the Ministry of Transportation has the wrong answer in their files, it could be costing you big bucks on your auto insurance. Just like with your credit score, it pays to make sure the official record is correct. In this case, you can easily verify... 
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