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Are You Simply Looking For The Cheapest Auto Insurance?

There are many people out there that are simply fed up with insurance companies and the insurance market in general. Many people have been subjected to frustrating claims processes, opting to get in touch with lawyers in order to get decent settlements. Some car insurance companies aren’t known for their customer service, and then you have the simple fact that the market is all about companies vying for the label that they provide the cheapest auto insurance.

There are certainly companies that don’t claim to be the cheapest, but they are still trying to tell consumers that they can save them money. It’s all about carefully worded advertising, and the fact remains that customers just don’t have a lot of trust in auto insurance companies to begin with. That’s why all of them are taking advantage of every opportunity to let consumers know that they can provide them with the cheapest policy.

It might be a policy that’s worth about as much as outhouse wallpaper, but it’s still going to save them money. They might not save money when filing a claim, but there is instant gratification involved. Maybe you’ll never file a claim, and perhaps all that money saved each month is going to really be put to use. Who knows, which is why it can be such a gamble.

There almost isn’t much you can do about it, however, as it’s just the way the market is being driven. Everyone wants the cheapest car insurance, and so the companies are finding ways to make it happen. There are still differences between the companies, but you’re going to have to grab a magnifying glass in many cases. As mentioned, they are all after the same objective for the most part, which means at least your policy is going to be cheap.

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How To Have A Healthy Pregnancy

Getting pregnant and having a child is one of the most amazing and beautiful experiences that a woman can go through. However, being pregnant has its challenges and there are a few things that you should do so that you have a healthy pregnancy. We will now cover a few tips that will ensure that you deliver a completely healthy baby.

The first tip is that you should focus on eating lots of healthy foods and reduce your intake of processed foods. This means that you should eat lots of organic vegetables, fruits, nuts, legumes, lean meats etc. Processed foods contain lots of chemicals which are harmful to your body and your baby.

Next, another tip is that you should schedule regular visits with your doctor so that they can monitor your progress. It is important that you choose your doctor wisely and that you choose one that is extremely experienced in handling pregnant women. They will monitor the fetus closely and ensure that both you and your baby are doing well.

Lastly, the final tip is that you should do light exercise that is recommended by a pregnancy fitness expert. Studies have shown that this can be quite beneficial and even make the delivery easier.

In closing, we have just covered a few guidelines that will ensure that you have a healthy and happy pregnancy. Visit lifeshieldhq.com for more.

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Biggest resume mistake jobhunters make : they don’t know what a resure is for

On and off in my career I’ve found myself in a position where I’ve had to hire a lot.  Usually young professionals.  The number one mistake I see is applicants that simply don’t understand what the purpose of their resume is.  Here it is: the purpose of your resume is not to get you a job, it is to get you an interview. I didn’t think this was really such a big secret, but when someone asks me to review their resume and I explain this little nugget to them, it is like a profound reawakening occurs.

Don’t tell me too much

Keep it short.  The point of your resume is to basically say “Hi, here’s a little about me..  My qualifications meet some of your requirements..  I can bring your company a lot of value..  let’s get together and discuss more”.  You need to pique my interest, but not tell me everything about yourself and your experience.  If you tell me everything about yourself, then why would I bother interviewing you?  Guess what: I won’t.  Even if you were the best candidate, you’ve already lost by not making it to the interview round.

Be a tease

When adding descriptions to your past accomplishments, don’t go overboard.  A well crafted resume will leave me with a couple of lingering questions about your past experience and I will feel compelled to want to interview you to learn more.  Give me a reason.  If you’ve provided so much detail that I can’t think of a single question I’d ask you (and this thought process happens in seconds as the resumes are reviewed), then why would I schedule an hour of my day to have an interview?  I’ve got nothing further I’d like to know that you haven’t already told me.

Don’t treat the hiring manager like an simpleton.  If your job title was “cashier” don’t add bullets that say things like “Operated cash register”.  I know.  In fact, describing duties is generally unnecessary.  Stick to accomplishments: the what, and not too much of the how.  If you tell me the how, you’ve taken away a great reason for me to interview you.  If you tease me with an impressive accomplishment, I am going to be dying to interview just to ask you more about how you did it.  Do you see how your resume can actually be crafted to get you an interview?

One last time

Say it with me now: the purpose of your resume is to get you an interview.  The purpose of the interview is to negotiate the job (more on this in a later post).  Too many people think that the purpose of their resume is to demonstrate that they are the best person for the job, or that they are generally awesome and skilled in every possible way, or whatever.  they’ve missed the point.  You need to be relatively qualified (hopefully not entirely qualified, but that is another post in itself), but after that, they only difference between you & any other relatively qualified candidate is your ability to get to the interview stage.

What do you think the biggest or most common resume mistakes out there are?

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10 Facts on Tax Free Savings Accounts (TFSA)

Many have written overly lengthy articles about this simple account type, the tax free savings account (TFSA).  This will be short.  Here are 10 quick and simple facts covering just about everything there is to know about the TFSA:

(1) You are probably eligible

All Canadians, age 18 or older, are eligible for TFSAs.

(2) Tax Free really does mean Tax Free

When money is withdrawn, it is tax-free – including any gains realized within the TFSA.

(3) No refunds

Contributions in to the account are not tax-deductible (unlike RRSP contributions).

(4) We all get the same room

The annual contribution limit is $5,000.  For everyone.  This limit will be adjusted for inflation in $500 increments.

(5) Always there for you

Annual contribution room can be carried forward indefinitely.  You never lose it and you haven’t lost out if you haven’t started your TFSA yet.

(6) Share the love

You can freely contribute to your spouse or common-law partners TFSA against their contribution limits and not your own.

(7) Anything goes

Don’t let the “savings account” in the name fool you.  Your TFSA can hold any RRSP-eligible investments (cash, shares, mutual funds, trusts, etc).

(8) No breaks for borrowers

Interest on money borrowed to invest in a TFSA is not tax deductable.

(9) Withdraw without fear

Any money withdrawn from the TSFA creates equal contribution room in the following year.

(10) Your losses are all yours to eat

Losses in a TFSA can not be declared as capital losses.  It’s only fair since you pay no tax on the gains.

Since being introduced in 2009, many Canadians still view the Tax-Free Savings Account (TFSA) it as a simple savings account.  The reality is, it can be a very powerful investment tool to grow your wealth and anyone looking to start investing should be looking to a TFSA first and foremost.  Really, it’s like a nice little world where the usual tax rules don’t apply and everything is simple..  I just wish they’d been introduced the year I turned 18 so I’d have more contribution room.

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The Smith Maneuver, a tax strategy every Canadian should know about

The Smith Maneuver is a little scheme that Canadians can use to ‘Americanize’ their mortgages.  Why do I say ‘americanize’?  Well, our neighbors to the south have long been able to deduct their mortgage interest come tax-time.  The Smith Maneuver, named for Fraser Smith who wrote the original book on the strategy, is a perfectly legal scheme whereby Canadians are able to utilize the tax code to create a so-called “tax-deductible mortgage”, but really it has even more advantages than just simply that.  It allows Canadians to get rid of their mortgages faster and start building wealth sooner.

So, what’s the trick here?

No trickery required, just some crafty planning and execution.  The tax rule being taken advantage of here is that Canadians can deduct the interest on loans that are taken to invest in income generating investments (or potentially income generating).  So, if you take a loan to buy a rental property, or some stocks, or whatever..  the interest on that loan is tax deductible.

The Smith Maneuver is basically taking a loan secured by the equity in your home, such as through a Home Equity Line of Credit (HELOC), and using the money to invest in stocks.  The interest on that loan is now tax-deductible.  As you continue to pay down your mortgage balance month after month, you are creating more equity from which to borrow against month after month.  As time winds on, you will be receiving substantial deductions at tax-time and you’ll wind up with a large investment portfolio and no mortgage.

What about the loan?

It’s still there.  So now with no regular mortgage (the non-deductible sort) you have essentially slowly converted it into a large line of credit where the interest is tax deductible since the borrowed money was used for investment purposes.  Now you have a few options as to what to do next.  With some low risk growth stocks, your portfolio is now hopefully larger than the loan.  You could sell off the bulk of your portfolio and repay the line of credit completely.  Now you are mortgage free sooner and have a small investment portfolio to boot.  Another option is to service the debt by paying at least the interest on it and continue to take the benefit of the tax deduction.  If your investments are performing well, this is a good option.

How dividends can sweeten the deal

There’s a lot of good dividend paying stocks in Canada that would make good purchases with the leveraged money in this strategy.  Many proponents of this strategy would suggest investing only in dividend-paying stocks.  If you do this, you’ll end up with recurring income in the form of dividend payments.  With some luck, you could end up with your investment portfolio paying you enough dividends to cover the interest on the line of credit.  If this is the case, there’s no sense in paying off the loan at all.  It is being paid by the dividends and you still get to enjoy the tax deduction.  You are now free to do whatever you please with your other income; spend it, save it, invest it, etc.  You are essentially mortgage free.

What are the risks

The maneuver itself is risk free and perfectly legal.  The risks that come in to play are purely associated with the nature of the investments you are making with the borrowed money.  Like any investments, there are certainly risks of losing money or dividends being reduced or whatever.  Likewise, the strategy offers the potential upside/bonus of your investments actually making gains.

Conclusion

This is a pretty powerful strategy for Canadians and this post really only brushed the surface.  In execution, it can still be as simple as I’ve made it sound here as well.  This is a topic that will come up again and again here..  in future posts I will cover the ABC’s of how to actually execute this as some specific banking products out there make it very easy to do.  I’ll also cover some example calculations to demonstrate the effectiveness and benefits.  For the sake of this post, I just wanted to throw the idea out there.