Another Sunday is here, so it’s time for my weekly reading. A recap of anything I find interesting in the world of personal finance and related blogs from the past week.
Here are some handy articles and tips I’ve come across recently, enjoy!
7 Best Personal Finance Apps in Canada | Gen Y Money $
I may not exactly fall into the category of Millennials, but there are definitely days when I feel fairly tethered to my smartphone. Maybe that thought was reinforced after watching “The Social Dilemma” on Netflix. In any event, Gen Y Money has put together a great collection of the Best Personal Finance Apps in Canada. Everything from money savings apps, to apps that will help you manage your money, investments and spending. So if you’re addicted to your cell phone, you can now at least be a little more productive on it. I tried hard to think of anything that might be missing from this list, but I think most of it is covered! Great job on this one.
The Smith Manoeuvre with Robinson Smith | FI Garage / Explore FI Canada
The most recent episode of Explore FI Canada podcast got me a little more interested in exploring the ins-and-outs of the Smith Manoeuvre. A financial ‘hack’ we’ll call it, that allows you to essentially convert your mortgage debt into tax-deductible debt. I won’t get into specifics, but there is a good primer on the topic from the expert himself, Robinson Smith over at the FI Garage podcast interview series (linked above). I can see how this method would be potentially beneficial for some, but it is also fairly complex and I wouldn’t recommend it to the average Canadian without doing a lot of homework beforehand and knowing what you’re getting into. There are also potential tax implications, so you should enlist the help of experts and professionals if you don’t want the CRA knocking on your door down the road and potentially have a problem on your hands. My verdict – not for the average homeowner, and proceed with caution.
Dividend Income from YOU the Bloggers | Dividend Diplomats
Are you a dividend investor? Want to compare your progress to others, or just see what people in the personal finance and dividend investing space are up to? Enter the Dividend Diplomats – two guys from Ohio, hoping to exit the working world before they hit the magical average retirement age of 59.5 years old. Readers would probably agree that we’d all like to accomplish that goal (or sooner). The Dividend Diplomats have put together a collection of 54 dividend bloggers (folks who regularly publish and track their monthly dividend income) and the result was an amount that would equate to a nice annual income for most, at $73,110 – wow! Check out the link above to see the full list of websites along with a breakdown of the numbers and who is pulling in this dividend cash, and how much.
The Plutus Awards | Plutus Foundation
The 11th Annual Plutus Awards are coming up in a couple of weeks, a free to attend virtual event this year. The Plutus Awards celebrates excellence in financial media, and if you go over to their website and look at previous winners, you’ll likely see a lot of popular and recognizable names and websites from the personal finance world. So if you’re serious about Personal Finance – grab your ticket for Friday, November 13, 2020 – remember, it’s free.
That’s a wrap for this Sunday, if you have some time, check out the latest articles on the homepage including our latest Review of EQ Bank and How to Save Money on Gifts.
Hope everyone has a wonderful weekend!
Thanks for sharing it is always interesting to see what others are reading!
Thanks for reading!