RRSP.ORG Registered Retirement Savings Plan

Registered Retirement Savings Plan – RRSP.ORG the original website that best describes everything you wanted to know about Canadian registered plans and schemes has taken a turn for the best. The information and knowledge base on RRSP.ORG is more than ready for change and a complete overhaul.

MONEY.CA the leading Canadian money and personal finance website has acquired the aging website for all the right reasons. RRSP is just one of many keyword subject sites that most of Canada wants and needs. For over 20 years this small and meaningful site providing news and information in the world of Registered plans for Canadians has now been taken over by people who know and care dearly about the subject matter and the benefits and advantages it brings to Canadian’s, the government and the country as a whole.

Look forward to the changes and updates as Canadian financial consumers will learn how to make, save and preserve more of their hard earned wealth. The advisor channel is more than welcome to contribute news, information, stories and articles that make sense and pays dividends to the average Canadian.

How the Opioid Epidemic is Having a Devastating Impact on Our Economy

If you have been reading or listening to the news lately, you know that the opioid epidemic in America is showing no signs of slowing down. In fact, there is a good chance that you have been personally addicted by this modern plight on our society. Even if you don’t know someone who has struggled with opioid addiction, this crisis is far-reaching and goes well beyond the nation’s emergency rooms. Opioid addiction is devastating the workforce and the economy, which means it could be impacting you in ways you don’t even realize.

A Smaller, Less Experienced Workforce

As of 2016, experts estimated that over 2.7 million people in the US are addicted to opioids. As a result, fewer citizens are able to participate in the labor force. While many are quick to assume that young people account for most of the addicted population, the majority of addicts are white men between the ages of 45-64. This means that some of the most experienced and knowledgeable resources within the workforce are being sidelined. While it is difficult to know the exact role that opioid addiction is playing in the steep decline in labor force participation that began in 1999, researchers estimate that 20% can be attributed to opioid addiction.

The Toll on Families

As more people succumb to opioid addiction, more babies are born already addicted. In fact, every 19 minutes an opioid addicted infant is born in the US and their only choice of treatment is to go cold turkey. This means constant monitoring by hospital staff as the baby experiences the painful effects of withdrawal. If symptoms persist, doctors will administer methadone or morphine to keep the baby alive. As these babies develop, they will continue to face challenges and usually suffer from learning disabilities and trouble with social engagement. This can often begin a cycle of problems that places a burden on community and government resources.

An Overwhelmed Foster Care System

Even before the opioid epidemic began to sweep the US, the foster care system often had trouble finding suitable homes for children who needed temporary or permanent housing. With more parents overdosing and ending up in legal trouble, there is a flood of new children entering the system. Again, this shifts the responsibility of childcare to the community and government agencies.

An Increase in Drug Related Arrests

As you might expect, along with more drug use comes more drug arrests as people are caught selling and distributing drugs and committing crimes to support their habit. Ultimately, this means an overtaxed legal system and crowded jails that are having trouble keeping up with the influx of new inmates.

With all these different costs, it is estimated that the opioid crisis costs Americans $78.5 billion every year. However, many experts argue that this number is low because it is based off of 2013 statistics and only includes addiction to prescription opioids and not the cheaper street versions of heroin and fentanyl. From an economic standpoint, we can begin to try and estimate numerical costs, but in reality, the cost to families and their communities is simply incalculable.

How to Use Cash Loans to Overcome Financial Burden

Cash loans are considered to be the best option when you run out of money and need immediate monetary help. The cash lender gives the money on an assurance that you will be paying the money back from your trusted source of income. In most cases, the cash advance loans or personal loans offered by various companies don’t ask for much detail like the traditional bank does. However, more important than getting the cash loan is to use it in a wise and precise manner so that it takes you out of the financial burden you are in. In this article, we will cover how to use a cash loan to overcome the financial burden.

1. Estimate how much cash loan you need

The first step to fight your financial burden is to get an estimate of the amount you need to come out of it. Always consider the amount you need to come out of the emergency situation. It is advisable not to go into a cash debt unless the need for a loan becomes indispensable. Calculate your expenses and money deficit. Based on the results of your calculation decide how much cash loan you need.

2. Search for the best cash loan option

When searching for a cash loan you should consider various factors in mind. Some of the factors include the interest rates, time for which you want the loan, the fee for the cash loan, the credibility of the creditor, penalties and the ease with which you can get the money. Knowing all such factors can ensure that you get the best deal and not fall prey to the panic situation. There will be various credit card companies and online or peer lenders who will provide you reasonable and promising deals. There are some companies that offer pretty low rates of interest as compared to giant credit card companies. However, going through all details and hidden clauses is very important. You can also search for the online reviews and borrower’s experiences for the given company at various forums. The presence of online and offline centers are important too. The agent or the executive in charge should be easily approachable and explain you all the details. Don’t rely purely on what he says. Ask for a written agreement in case you don’t want to get involved in any hassles at a later stage. Cash loans are provided by many companies and it’s up to you to decide and take a call on the loan that best fits your need.

3. Revise your expenses

Once you get the cash loan, you have to utilize the amount judiciously. If there are any expenses which can wait till you get money from your regular or actual source of income then you should not spend the amount on such item. In desperate times its worthwhile cutting down expenses on items which are not urgent. Prepare a list or a budget to define how you are using the money every day.

4. Don’t spend all of it

Once you have capital, you can pay the debt you are in, pay for the installment which could have cost you a penalty or pay for the emergency you are in. The key thing is not to spend all of your money if you manage to get past the financial burden without having to do so. Emergencies can come anytime and go empty in the pocket is never a good sign. Thus you should have some margin over all your expenditures from your loan amount.


In the end, cash loans are an easy and effective way to come out of the financial burden which sometimes comes in everyone’s life. Using the loan money effectively determines whether you go further into the vicious cycle of debt or come out of it stress-free.

Mattress Hacks for Students on a Budget

College students traditionally don’t get much sleep, but when they do sleep they want a good mattress that doesn’t cost an arm and a leg. Millions of college students over the years have had to put up with the lumpy and thin dormitory mattress — a thing of legend and hearty cursing — but today more and more students live off campus and shun dormitory living. Plus students in dorms often have the option of providing their own mattress, if the want. Naturally, they want a quality mattress to crash on when they can fit it into their hectic schedule, and for most it needs to me an inexpensive brand that won’t exhaust their current student loan.

There are a whole range of prices for the top mattresses. Here are a few that college students will find right for their sack time and for their wallet:

The Trizone Crazy Quilt Ultimate

This is one of the least expensive mattresses on the market today. It’s basically seven inches of foam wrapped in a cotton quilted sheath. The foam is in three layers — the top layer is memory foam to shape to your body; the middle layer is a firm blend of foam and latex to give the back the support it needs to stay aligned. And the bottom layer of foam is tubular, so the mattress can breathe, giving the sleeper a cool night’s rest.

Memory Foam brand

The Memory Foam Company makes a large variety of foam mattress pads in various sizes. Their warehouses ship everywhere in North America, so they can be ordered online for a very decent price. Total weight is just 63 pounds, so it can be moved from one place to another with very little hassle.

Contour Signature Sleep

This is a sprung mattress, so it costs a bit more. But many students find that the sensation of floating that a foam pad mattress provides is a bit disorienting at times. A firm spring mattress lets the sleeper know that they are on terra firma and not likely to waft away in a strong breeze. But be forewarned — the springs are stainless steel, and numerous, so this is a heavy mattress and not much fun to move around the room or up and down stairs. But it’s pretty much going to last the rest of your life.

Signature Sleep brand

This is a favorite with students on a strict budget. It’s a traditional spring mattress, with each coil individually cocooned in a cotton sock. Plus the top two inches are a pillow of memory foam — so the sleeper is getting the best of both worlds at a price that is not hard to swallow. The one drawback, of course, is that this is not a mattress that can be turned over for extended life. But then, tests show that most memory foam manufactured today will still be in good shape in twenty years.

Whatever type of mattress is decided upon, remember that nowadays a mattress can last much longer than a car. Students who invest wisely in their sleeping comfort may go through 2 or 3 vehicles while still snoozing on the same mattress. Those willing to spend for a top of the line brand will pretty much possess a mattress that they can depend on until they’re old and gray!


Tips for Rebuilding When You’ve Lost Everything

After the wildfires struck in California, community immediately started working together to bring positivity to a situation that was seen as hopeless. According to experts in the industry, thousands of homes in California that were lost due to wildfires could be built quickly and with the most efficiency when production-scale techniques are used. Throughout the state, many people lost their homes when they least expected it. In Sonoma County, about 5,000 homes were lost. In Santa Rosa, 3,000 homes were destroyed, with entire neighborhoods being wiped out, which is an astounding 5% of the housing stock for that area.

Some believe that rebuilding across California could be one of the most difficult things to do. In fact, they are saying that it could take a huge 3 to 5 years to complete all the rebuilding, and that there is toxic waste clean-up to be done at most of the burn sites. There is also a process of homeowners figuring out how much they will be able to receive from the insurance companies, and how much they will get in proceeds to rebuild after devastation.

Because of the unique circumstances of this wildfire and due to so many homes being lost, industry experts say that there will be a much slower re-building process in mind compared to one person losing a house to a fire in an area. In fact, the fires in October led to the damages of well over 21,000 homes and thousands of businesses as well. One of the reasons for the shortage is because there is a massive labor shortage, which means that it could take anywhere between 3-5 years to clean up the leftover mess, depending on the area and its needs.


When you want to rebuild after devastation, there are some steps that will get you in the right emotional mindset so that you can work toward success and new ventures in your life.

Acceptance: One of the best ways to move forward is to realize that the event occurred and that you can’t change the past – so the best way is to move on and rebuild. If you keep thinking to yourself, “Maybe something could have been done to prevent the fire” you’ll find that it’s more difficult to move on. After a wildfire, you will have people on your side, and you will find that though it is a time-consuming process, there is still hope.

Support System: That brings us to our next point – having a great support system on your side can help significantly. You should have family, friends, builders, and the insurance company to lean on in your time of need. Different Perspective: Remember that you have made it through past challenges and that you must stay in the moment. Though it may be difficult at times, try to think about how you will move on in the future by speaking with your insurance company, hiring a builder to manage your new house, and more. For those who have not experienced the loss of loved ones, there could many aspects to look forward to.

The Mortgage Broker

The Mortgage Broker
The Mortgage Broker – Canadian Mortgage Broker – Mortgage Broker Canada

Make save and preserve more of your money with The Mortgage Broker. Home of the “Best Rate Around”. The independent mortgage broker in Canada is usually allies with a national brokerage to get better and lower rates by volume. Join your local mortgage broker to get the best rates. MONEY often refers Canadian financial consumers to licensed and reputable mortgage brokers and not to big banks directly in order to save you more and get better information, benefits and privileges. Learn more for a direct referral for your mortgage and real estate needs with professionals that know and understand that price and service rule the day. Call us toll free 1-800-789-1011 x101 to know more and get more value for service.

What Are The Worst Possible Financial Mistakes People Make?

When it comes to financial education the truth is that most people from around the world do not really know much. The financial situation you are in will always be a combination of all the decisions that you made in the past. There is a huge possibility you did not learn much about the topic so learning as you go along is something that is necessary. You will make various bad choices and the truth is the following are those that can be considered as being the worst, according to financial experts at Infographics Graphics.

Using Savings To Pay Off Debt

When your debt is around 20% and you have a retirement account that is now making 4 percent you can be tempted to use the savings to pay off your debt. This is a bad idea since it is really easy to withdraw the funds while it is complicated to pay back retirement funds. You could borrow some money from the retirement accounts but it is a much better idea to look for other available options. In the event that the retirement fund is the only option available, the trick is to continue your life as if you were still in debt. This allows you to continue saving and get to a stable financial situation.

Not Having An Emergency Fund

We naturally want to think that nothing bad is going to happen to us and if this is the case our money will be enough to deal with it. Most of the households simply live from one paycheck to the next while the unforeseen problems can easily turn into a disaster. Financial planners always recommend that you have an amount equal to 3 months of expenses in a checking account so that fast access is possible. You never know when you can lose your job or something unexpected happens, like an accident.

Not Having A Budget Or A Plan

You do have to take time to do budgeting. It is boring and many think that it is not possible to go into debt. In reality, your financial future will be connected to what is done right now. It is not at all difficult to spend a few hours per week to check finances. The idea is that you always have to be aware of exactly where you stand so you do not spend too much in the near future.

Lack Of Insurance

Most people are not insured because they think that this is useless or that nothing bad is going to happen in the future. We never expect death or medical conditions. Insurance is here in order to protect us and the ones we care about. When living alone without dependents it is possible that no insurance is needed but whenever being a part of a family, it needs to be taken into account.

Not Taking Additional Income Options Into Account

In life we have no guarantees to when something will end. We have to invest money into different sources in order to protect ourselves in the future. Be sure that you consider every option and you invest so you can have more money.

Stay On Budget By Shopping Online

You’re trying to save to get together a down payment for a house, to go on a dream vacation, to get yourself out of debt, or to scrape by on a tight student budget. Financial experts tell you to create a budget and stick to it, and you’ve been doing great, skipping expensive meals out and other luxuries. It’s all going great, until you crack the screen on your phone, break a chair leg, or rip a hole in your favorite pair of jeans. Sometimes you can’t avoid making a purchase when you need to replace something essential, but the cost is way beyond your budget.

Thrifty shoppers have been buying everything second-hand for as long as thrift stores and flea markets have been around. With the rise of online classifieds, sites like Kijiji have become the thrifty shopper’s go-to destination for buying used goods. You can buy just about anything second hand thanks to online classifieds.

Furniture – Furniture is a big-ticket item and if you’re saving for a house, buying that expensive new sectional is a lot like putting the cart before the horse. Used furniture is one of the most popular categories on Kijiji with plenty to choose from, especially if you can pick up the furniture yourself. It’s even easier to sell online, which is why it’s often the first-place people go when they move or upgrade their furniture.

Textbooks – Textbooks are not only expensive, they are also often a surprise. Publishers have carte blanche when deciding how much to charge for textbooks, and professors often don’t even know what the price will be to their students when they place an order. You can save a lot of money by bypassing campus bookstore prices, including steeply priced buyback programs.

Electronics – You can buy just about any electronic online, from flat screens to DVD players to tablets, but smartphones are one of the most popular items sold in online classifieds. Not only do you save money right now by buying used, you can also earn some extra wiggle room in your budget by paying for a phone outright, instead of going on an installment plan where you inflate the price of your bill.

Bicycles – Fall and winter are great seasons for buying used bicycles, when interest in biking generally drops along with prices. If you use a bike to commute, or you want to save money by switching from a car or public transit passes, you can save even more by buying as the weather gets cold.

Cars – Buying a used car is one of the smartest financial moves you can make and it can save you thousands of dollars. A new car loses 9 percent of its value the minute you drive it off the lot, and a total of 31 percent within the first two years. Buying a car that’s 4 or 5 years old can save you as much as half the price as when it was new, especially when you buy straight from the owner. Search for used cars on Kijiji classified ads in Canada, check out the car you like, and take it for a test drive. Used cars aren’t just for teenagers, they’re for anyone who has too much sense to spend thousands of dollars on a new car smell.

When you need to replace your bike or your car, buy textbooks, or get a phone, you don’t have to break your careful budgeting. Buying second hand online means you get to stick to your financial goals, even when you can’t avoid that purchase.

6 Alternative Funding Sources in Ontario for Medical Supplies

The Canadian federal government and provincial governments provide funding programs for medical supplies, equipment and care, but in many cases, these programs do not cover the full cost of the equipment.

For residents of Ontario, there are several alternative programs that offer funding for essential medical supplies.

1. Assistive Devices Program

The Assistive Devices Program, or ADP, was created by the Ontario Ministry of Health to provide funding to local residents “who have long-term physical disabilities.” The program also provides access to personalized assistive devices.

The program covers more than 8,000 different pieces of equipment and supplies, including: mobility aids, prostheses, test strips for diabetes, eating and drinking aids, hearing aids, respiratory equipment, oxygen delivery equipment, and more.

To qualify, you must:

  • Live in Ontario
  • Have a disability requiring the supplies or equipment for at least six months
  • Possess a valid Ontario health card

Income is not considered when applying.

2. Ontario Disability Support Program

The Ontario Disability Support Program (ODSP) is run by the Ministry of Community, Family and Children’s Services. The program assists Ontario residents who have disabilities by providing income and employment.

Patients who are part of the program may also be eligible to receive assistance with:

  • Dental coverage
  • Medical supplies
  • Prescription drug coverage
  • Medical transportation
  • Nutritional allowance for pregnant/breastfeeding mothers

Medical supply coverage includes: diabetic supplies, surgical supplies, incontinence supplies and surgical dressings.

To quality for this program, applicants must:

  • Meet the definition of a person with a disability
  • Be at least 18 years of age
  • Be a resident of Ontario
  • Be in financial need

For patients under the age of 18, the application process can start up to six months before their 18th birthday.

3. Ontario Public Drug Programs

The Ontario Ministry of Health offers six programs that provide drug benefits, which includes related medical supplies, treatments and even equipment.

These programs are available to patients of all ages who live in Ontario and possess a valid Ontario Health Card.

4. Assistance for Children with Severe Disabilities Program

The Ministry of Children and Youth Services program provides assistance to qualifying residents to cover the costs of caring for a child with severe disabilities.

This program, which is income-dependent, can provide a parent or guardian with assistance for children:

  • Who are under the age of 18
  • Who have a severe disability
  • Who live at home

Benefits can range between $25 and $440 per month, and can be used to cover the costs of: medical transportation, assistive devices, wheelchair repairs, special shoes, dental care, hearing aids, eyeglasses and prescription drugs.

5. Veterans Affairs Canada

The Department of Veterans Affairs Canada can provide special funding for medical-related equipment, including mobility devices, assistive devices and home modifications.

6. Workplace Safety and Insurance Board

The Workplace Safety and Insurance Bond, or WSIB, is an independent agency that provides compensation and insurance to Ontario workers.

The agency may provide funding for health care equipment and supplies prescribed by a doctor provided it fits the appropriate criteria. Items that may be funded by the agency may include: assistive devices, adjustable bed frames, braces and supports, TENS units and more.

The Importance of a Financial Backup Plan

Financial setbacks and emergencies can derail even the most carefully planned budgets. Creating a financial backup plan can rescue you in those circumstances, and you may need more than one option.

How Does a Financial Backup Plan Help You?

Image via Flickr by ccPixs.com

You may live within your means, set aside money for savings, and take part in a 401(k) plan. Still, unexpected life events could drain your financial reserves, in which case you need a financial backup plan.

Several emergencies can arise without warning, from a broken-down vehicle to a serious injury or illness. You won’t use your backup plan unless you’re in a serious emergency, but you’ll feel confident because you know you have one when you need it.

Explore the following three financial backup plans you can set up for your peace of mind.

Borrow From Your Retirement Account

As Sonya Stinson pointed out in her Bankrate article about good reasons to borrow from your 401(k) account, you may need to use your retirement fund if you have no other recourse. For example, if you can’t pay the rent, make your mortgage payment, satisfy your car loan, or buy groceries for your family, a 401(k) loan can help you get back on your feet.

If you decide to borrow from your 401(k) account, calculate exactly how much money you need. If you borrow too much, you could put yourself in a worse financial predicament, especially if you can’t afford the monthly payments.

Ask Family and Friends

The people you love may have the extra funds necessary to help you out of a financial bind. You may call a parent, sibling, or other close family member or friend to explain your financial emergency. Let your friend or relative know exactly how much money you need and when you could pay back the loan.

Borrowing from friends and family can prove dangerous if you don’t hold up your end of the bargain. Relationships can get ruined because of money, so force yourself to approach the situation strategically. For example, if you can’t afford to repay $500 per month, don’t agree to do so.

Take Out a Line of Credit

Lines of credit work similarly to credit cards. They offer money when you need it, and you can continue borrowing from a line of credit until you reach your credit limit. Many lines of credit offer lower interest rates than credit cards, which can make them attractive alternatives.

You can also use a line of credit from an online lender such as Kabbage for your small business. If you need help buying inventory, paying suppliers, or hiring new employees, a line of credit may give you the financial boost you need to keep your business afloat.

As long as you qualify, you can keep a line of credit open indefinitely. This line of credit can help your personal or business credit rating, especially if you borrow less than the credit limit since the credit line adds to the credit amount available to you.

A financial emergency can strike at any moment, so don’t wait until something goes wrong to create a strategic solution. If you already have a backup plan in place, you can tackle the problem immediately and avoid putting unnecessary financial stress on your family or business