Welcome to the Globe and Mail Personal Finance Reader. I'm Rob Carrick, personal finance columnist at The Globe, and each week I compile a list of articles, blog postings and websites that represent the best of what the online world has to offer on money-related subjects.
Kids went back to school this week after the holiday break and, in a way, adults did likewise. I can already tell by the tone of e-mails and interactions on my Facebook fan page (Rob Carrick - Personal Finance) that people are getting serious about their finances in the new year.
This edition of the Personal Finance Reader covers a lot of things people should be thinking about right now, starting with debt levels and the likelihood that interest rates will rise later this year and in 2011. Should you use the money you'd normally contribute to your RRSP to pay down debt? Read on.
There's also a look at two websites where you can go for tax advice, a website for converting your unwanted gift cards to cash, and lots of nuggets on investing and the housing market. Lobster lovers, be sure to read right to the end of this week's Reader.
Found something on the Internet that your fellow investors might enjoy? Talk to me at rcarrick@globeandmail.com.
From The Globe and Mail and Globe Investor
Five reasons why it makes sense to combine all of your investment accounts under one roof
Poll finds that paying off credit cards and mortgages is a financial goal among Canadians heading into 2010, while saving for retirement drops off
Interest rates are about to start rocketing higher
Terry Ritchie, cross-border financial adviser with Transition Financial, discusses the best and worst places to exchange money and what your options are for opening a bank account in the U.S.
Use that home renovation credit. And don't forget about those TFSAs either.
Get on top of that debt. Save. Set out a plan. And stick to it.
Must Reads From Around the Web
Debt Smart
Rising interest rates later this year and in 2011 - yes rates will rise from their historically low current levels - are going to make a lot of Canadians wish they were smarter in managing their debts. Here, the GetSmarterAboutMoney.ca website tackles the question of whether it's better to pay down debt or contribute to an RRSP.
Tax Software Smackdown
You want to see competition in the financial services industry? Check out the always tense jockeying in the income tax software business. QuickTax, the market leader, and H&R Block Canada, a new upstart, are already trolling for customers by using new websites they've created. H&R Block's Taxtalk is a blog and online forum on tax issues, while QuickTax has a site that allows people to get a free expert answer to one question through Jan. 13.
Redemption For Unwanted Gift Cards
Using the website CardSwap.ca, it's possible to convert your unwanted gift cards to cash. This Canadian site matches sellers of gift cards with people willing to buy them at a discount.
Troubled Pensions
The How to Invest Online blog looks at ways of telling if a company's pension plan is in trouble. Note the link to a MoneySense magazine list of the top 22 Canadian corporate pension plans in danger.
Need To Know Stuff For Investors
Commodities ranging from orange juice to oil and natural gas are pricey, according to this U.S. investment firm's blog.
Wall Street veteran Byron Wien's list of the Top 10 surprises potentially in store in 2010, plus a look back at how well Wien's predictions did in '09.
What could possibly be wrong with an investment strategy focusing on blue-chip dividend paying stocks? The Independent Investor website plays the skeptic in assessing the advantages associated with dividends.
Like Bill Gates was with Kodak back in 1991, you can be right in the long term about a stock but very wrong in the short term.
Exchange-trade funds - so versatile, so convenient and so numerous that it's a huge job now to pick the best products for your portfolio. This ETF screener from the money management firm PUR Investing may help.
Return of the R Word
Forget recession and start thinking about how to get rich.
Housing Notes
The Canadian Mortgage Trends blog explains how sneaky banks can be when sending mortgage renewal notices to clients. Bottom line advice: Never blindly accept the rate being offered.
An American take on whether we have a housing bubble here in Canada.
A Toronto real estate blog compares the past decade's price gains with the city's late 1980s boom. What caught my eye was the long slump after the 80s boom went bust.
The Unloved Lobster
Eat lobster and help the struggling East Coast fishery. Apparently, there's a rampant case of recessionary lobster aversion in North America.
Editor's note: If you don't receive Rob Carrick's personal finance newsletter each week by email, you can sign up to receive it free by registering at The Globe and Mail . All you need to do is register for the site, or if you've already registered, login and go to your profile at the top of the homepage. Once you're in your profile, look under Alerts and look for the Personal Finance Reader and other newsletters. Other financial newsletters include:
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Rob Carrick