Visa Debit Cards, I am thinking about getting one!

Visa debit cards are becoming more and more popular in the United States as people are trying to transition away from credit cards. The problem that some people have is they want to make purchases online, rent vehicles, book hotels, book vacations etc. But don’t know how to do these things without using a credit card. Enter Visa Debit Cards. They are a combination of a debit card and a visa card.

A Visa credit card is when your purchases are billed at the end of the billing cycle, and you pay interest charges on the balance if it’s not paid in full. Visa debit card purchases are withdrawn directly from your account, by accessing your available funds. It also acts as a credit card with an expiry date and a security code at the back of the card, just like your credit card. This allows you to make purchases online, book hotels, rent vehicles and so on, the same way you would with your credit card.

Here in Canada, most banks haven't adopted this new card yet. CIBC is the only bank I could find that offers the visa debit cards. I am considering getting one of these visa debit cards, but they are pretty limited. I currently bank with PC and ING, because their banking is free. If I switch to CIBC I am going to have to pay a monthly plan fee, which I do not want to do.

Does anyone have one of these cards, I would love to know what you think?

Do You Have Title Insurance?

Title Insurance, should you get it or not? Title Insurance is a type of insurance that most home owners get when they purchase their home. It's quite different from homeowner insurance or life insurance. Title Insurance protects the ownership of your home for as long as you own your home.

Why is Title Insurance important?

There have been many situations where individuals have lost their title due to theft. Here's how it works. Let's say you own your home and your identity was stolen. Identity theft is when one person pretends to be someone else by assuming that person's identity. This is most often done to obtain credit in that person's name. Your identity can be stolen a number of different ways. Some of the ways are a lost wallet with all your identification and your credit cards, unshredded mail, and inputting personal information on a fraudulent website.

Check out Susan's story. What happened to Susan is very unfortunate. Her identity was stolen and her title for her home was stolen without her knowledge. This can happen to anyone. Here are some tips on how to protect yourself:

• Check your title annually to make sure no changes have been made - a real estate lawyer can check this for you
• Check your credit bureau annually, you can obtain one free credit report at Equifax or Transunion. Look for any inaccuracies. If you discover you are a victim of identity theft, report it to the authorities immediately and to the credit bureaus to add a fraud alert on your file. Also contact your banks and credit card companies
• Get Title Insurance with identity theft protection

First Canadian Title is one of the more popular title insurance companies in Canada. The price varies depending on the province, value and type of home. This could cost you anywhere between $350 - $1000.

First Canadian Title's price includes the following:

• Fraud and forgery – protection against fraudulently registered mortgages against your title
• Duty to defend – the legal fees associated with resolving insured title issues will be covered
• Building permit coverage – coverage for renovations completed without a permit that result in a loss
• Zoning coverage – protection should a property not meet municipal zoning requirements
• Competing interests – protection in the case of someone claiming an interest in your land; for example, an easement for a driveway or a builder’s lien
• Problem solving/facilitates closings – First Canadian Title will frequently provide coverage for known defects such as encroachments, delays in registration and zoning violations (these are directly from FCT's website)

Title fraud can be a nightmare to deal with if you're not protected. It really is a shame that we have to think of protecting the title to our home. Whatever happen to just buying a home legally and assuming that the home is yours. I guess those days are over.

How I Got Ripped Off TWICE!!

I just absolutely LOVE getting a great deal, which is why I ALWAYS shop around when purchasing anything, especially plane tickets. I am usually pretty good at getting the lowest airfare on trips, but these last two purchases that I made, I have no idea what happened.

I had been planning a trip to Jamaica since last summer because I hadn't been there for years, so I thought why not enjoy some sun over the Christmas holidays. I shopped around for months before booking, I even asked many of my friends who frequently travel to Jamaica which airline I should take. Westjet was the most common and cheapest airline my friends have used. It was also the cheapest when I did my research. After checking from time to time, the price would go up and down. I knew it would be more expensive because I was travelling over the Christmas holiday which is high season, but I still wanted a deal. After seeing the price go from $641 to $700+, I decided to book it at $641. I was feeling really good until a few days later when I went back to check if the price had changed. Why was the price less than $600! I was not happy at all.  I just wasted over $40 dollars. I could have done a lot with that money. Have you ever been on a plane and sat beside someone who paid less than you did for the same flight? If you haven't, the feeling sucks. You feel like you've been ripped off. Actually the feeling is accurate, you have been ripped off!

But wait, it gets worst!

I am planning a trip to Atlanta, GA in February. I did the same thing, shopped around on many sites to see what would be cheaper. It's usually more expensive to fly out of Toronto to Atlanta, the price is $687 as of right now. Flying from Buffalo to Atlanta is $201. I'll say what you're thinking, "wow that's a lot cheaper!" It is a lot cheaper, but I didn't pay $201, I paid $264. The price went down a few days after I purchased my ticket. I'll say it for you! I was ripped off again by $63. The money that I was ripped off could have paid for my car rental in Atlanta.

I obviously need a better strategy for booking flights. I am planning a cruise in the summer and really don't want to pay more than I have to. I will SCREAM if this happens again.

Does anyone have any tips to help me so I don't get ripped off again? PLEASE HELP ME!

My Concerns With RRSP's

Every financial planner that I have ever come across has told me that RRSP's are the place to invest your money. I am not 100% convinced this is where I want to put most of my money, if any.

Robert Kyosaki said "401k is for people who are planning on being poor when they retire." 401k is the U.S version to RRSP's. I have thought about that statement from the moment I started investing in RRSP's. Here's why:

• With RRSP's you get a tax deduction and possibly a refund when you make a deductible RRSP contribution. Is that really beneficial? I don't expect my tax rate upon withdrawal to be lower than it is right now, which means the refund I receive because of my contribution doesn't mean much if my tax rate stays the same or increases, which it definitely will. An increase in my tax rate would actually cost me more to withdraw in retirement.

• More and more TFSA's are sounding more attractive. With a TFSA I can contribute $5000 a year tax free. After marriage we can contribute $10,000. Also, if I withdraw any money I don't have to pay taxes on it and I could add my withdrawn amount to my contribution the following year. That's a bonus! With TFSA's however, I can only contribute $5000 a year, and we all know that won't make you rich. I will have to save way more than that using another vehicle.

• I've thought about real estate and investing heavily in rental properties. Investing in real estate over the long term could bring great rewards. For one, it will provide consistent cash flow, secondly there are many write offs, and lastly the appreciation over time.

So what are your thoughts about RRSP's?

102 Ways To Generate Extra Cash!

Have you ever thought of starting a side business, but had no idea where to start? Try doing something you're already good at and enjoy doing. There are a lot of things you can do. Check out these links with some great ideas to get you thinking.

• 18 Side Business Ideas You Can Start Today
• 102 Ways To Generate Extra Cash - Saving Advice

How I saved almost $150 on my Rogers bill.

I have been a loyal customer of Rogers for 18 years. That’s when I got my first cell phone. I really haven’t had many complaints over the years. Sometimes the service could be better, but overall I am satisfied, especially now that I saved almost $150.

I currently have the VIP cable package where I pay $67.98 before taxes plus a $1.00 fee they charge.(I really don’t understand the $1.00 fee) I am on a 12 month promotion they’re offering where I get $5.00 off for 12 months, so my total monthly bill is $72.29. My promotion is up on February 1, and Rogers is increasing their rates on March 1. What does this mean for me!

Well my VIP Package is going from $67.98 to $72.04, plus I will no longer get the $5.00 discount that I have been getting.  So my new bill would be $82.53. That’s over a $10 increase! So I decided to call Rogers to see what they could do for me. The first customer service rep that I got over the phone was extremely nice, I was also very polite. Being polite when speaking to customer service reps can really help your situation. No one wants to help a rude person. She offered me 15% off for the next 12 months. My new bill will be $72.04 plus a $1.00 fee plus taxes, totaling $70.15. This is less than what I was paying before. Whoo hoo! This will end up saving me $148.56 over the next year, simply by making one phone call.

Million Dollar Club!

So I recently discovered this great group of bloggers who are members of the Million Dollar Club. It's a club that helps you achieve your goal of becoming a millionaire. I have had this goal for many many years and am taking necessary steps to becoming a millionaire. Paying off my line of credit, car loan and mortgage were some of the steps that I have taken. But there's more!

1. I've decided to save my old bi-weekly mortgage payment of $809, actually I'll just round it up to $1000/bi-weekly
2. Max out my TFSA contribution of $5000/per year
3. Start and grow my side business
4. Always spend less than I make
5. Continue to contribute to my companies pension plan

I have much more income coming in this year, which will all go to savings. I will update this as life changes.

How are you planning on becoming a millionaire. Or are you already? Please share your tips!