Money News

Money News – January 2020

January's Money News
Welcome to a brand-new decade, and the year’s first edition of monthly money news!

Personal Finance in the News – January 2020:

Welcome to January’s Money News, and a brand-new decade! Here are a few personal finance focused news articles that grabbed my attention this January:

Read: In this article, Jamie Golombek at the Financial Post explains how the CRA has redesigned the T1 Personal Income Tax form for the coming tax year. Are you ready to file your taxes? Ugh…

Read & Watch: Speaking of taxes, there are a few other changes to watch for in 2020, including… lower taxes! No, that is not a typo!

Read: Do you understand your mortgage? If not, turns out you’re not alone. According to this article in Maclean’s, roughly half of Canadians don’t understand basic mortgage terms.  If this is you, educate yourself today – it may save you a lot over the long term.

Read & Watch: TD Bank has started charging compound interest on all personal credit cards. For some, this means that expensive credit card debt just got a little more costly.

Read & Watch: 50% of Canadians face insolvency risk, and more Canadians are filing for insolvency today than at any point since the 2008/09 financial crisis. If you’re facing a high debt load, consider reading the Seven Financial Rules I Live By and doing a top-to-bottom review of your expenses.

Thank you for reading January’s Money News. Stay tuned for more Money News next month and consider subscribing. In the meantime, check out my latest blog posts:  Tracking My Spending and Building a Budget, or check out the Free Financial Resources page along with budgeting Excel templates, and updated links to tax and RSP calculators.

Disclaimer:

Please keep in mind that I am not a financial advisor, and the opinions expressed are my own. My Money Moves does not provide financial advice – it is an informational website that details my own approach to my own money and personal finances. If you need specific financial help or guidance, please do your own research and seek out a professional who can work with you to reach your goals.

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