TFSA’s – Beware of Being TAXED

TFSA’s – Beware of Being TAXED

Tax Free Savings Accounts, or TFSA’s as they are better known, is Canada’s newest way to save money without having to pay tax on the interest. Introduced by the federal government January 1, 2009, an individual is allowed to contribute a maximum $5,000 to the account per year. As stated in my first blog, posted March 6, 2011, any open contribution room from previous years can by carried forward indefinitely until you max out the contribution space in your TFSA.

Read More

Challenges of Having Credit Cards

Challenges of Having Credit Cards

Credit cards are a good thing when it comes to purchasing goods and services. They carry so many advantages – no need to carry cash, insurance on stolen merchandise, no need to do exchanges when in a foreign country, and the list goes on. With so many advantages, there are also challenges to them. Allow me to explain:

Read More

Use Credit Cards to Your Advantage

Use Credit Cards to Your Advantage

Ah yes, credit cards, our modern-day instant bank machine. Or is it? With the reports of credit card debt being at an all-time high in Canada and the U.S., it seems to many of us that maybe we shouldn’t have credit cards for personal use. Today we are flooded with mail or e-mail asking us to fill out a form for a new credit card. They will even ask you in person! I remember going to Universal Studios in California, this going back to 1998, someone would pull you aside to their sign-up table; and they were giving away a free t-shirt just for applying for one!

Read More

Mortgage Insurance or Life Insurance?

Mortgage Insurance or Life Insurance?

I have been fortunate enough to engage with people in the insurance industry to know that you have options when it comes to insuring your home against the possibility of death and your mortgage may still left outstanding.

Read More

Payday Loans

Payday Loans

I’ll be honest, I am not a fan of payday loans, and I will never be. To be fair though, I will present to you what I think the advantages and disadvantages of payday loans would be:

Read More

Teaching People to “Live Inside Your Means”

Teaching People to “Live Inside Your Means”

Seianna Financial Services is committed to helping its readers to have opportunities to get better when it comes to controlling their personal finances.

Read More