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Carrick On Money

Rob Carrick pulls together the best personal finance ideas of the week

Entry archive:

Carrick on money: The super frugalistic guide to the holidays

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

The super frugalistic guide to the holidays
A blogger admits here he and his wife have been wasting money the past couple of years and, as a result, won’t be giving each other presents this Christmas.

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Carrick on money: Twenty-three ways parents are blowing their money

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Twenty-three ways parents are blowing their money
If you have kids, especially little ones, this list will hit home.

Personal finance advice on the Internet is bogus
A lot of Personal Finance 101 advice is absolutely savaged in this post on a blog written by unnamed Wall Streeters. A bit rambling, but worth a read. Warning: Salty language.

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Carrick on money: So much for my thinking on renting vs buying

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

So much for my thinking on renting vs buying
I’ve written a lot of columns urging people to rent a home if they cannot truly afford to buy. A clear exception would be this $500,000 (U.S.) per month apartment in, where else, New York.

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Carrick on money: Three rules of retirement that really work

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Three rules of retirement that really work
Basic rules of thumb with proven value for retirement planning.

Brag-worthy hobbies for cheap people
Blogging, hiking, podcasts and more.

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Carrick on money: Three smart ways to negotiate with a contractor

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Three smart ways to negotiate with a contractor
Strategies for getting a good price on a job without insulting the contractors bidding for the work.

Avoid these mistakes in seeking financial advice
Interviewing just one candidate, not doing a background check and more.

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Carrick on money: Dazed shoppers succumb to bargain brain

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Dazed shoppers succumb to bargain brain
That’s where you lose your common sense as a shopper and buy things just because you think they’re a good deal. Here’s how to prepare yourself.

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Carrick on money: How life gets better as we age

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

How life gets better as we age
An upbeat look at some myths about aging. Example: Cognitive decline is not as inevitable as we may think.

The best credit card for Aeroplan members
The Top Five credit cards for people who collect Aeroplan points.

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Carrick on money: How we’ll save $1,000 this Christmas

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

How we’ll save $1,000 this Christmas
A self-described “junkie for gift giving” offers up her plans for cutting spending this holiday season.

No one ever says they started investing too early
The younger you start saving and investing, the better. Period.

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Carrick on money: Ten retail tricks that suck money out of your wallet

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Ten retail tricks that suck money out of your wallet
Stores are playing all kinds of mind games with you, it says here. Good to remember at a time of year when people are out in force to shop for the holidays.

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Carrick on money: Guess who’s wrecking your retirement ...

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Guess who’s wrecking your retirement
The phenomenon of parents helping their Gen Y kids financially is getting lots of attention these days, some of it less than enlightened. Here, a U.S. financial website says “many parents are far too willing to keep the financial umbilical cord intact long after it should be severed.” Just fyi, the financial umbilical cord is sometimes a lifeline.

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Carrick on money: Being rich is as good as it gets, billionaire says

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Being rich is as good as it gets, billionaire says
Mark Cuban, billionaire sports team owner, scoffs at wealthy people who complain about the hassles of being rich.

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Carrick on money: Ten ways to increase your home’s value

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Ten ways to increase your home’s value
The suggestions here are as simple as adding a heated towel rack and putting new doors on your kitchen cabinets.

You can save money for home improvements by checking out these suggestions for spending less at the grocery store. An interesting recommendation made here is to ignore coupons and instead look for sales.

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Carrick on money: Forget city living, seniors are moving to the suburbs

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Forget city living, seniors are moving to the suburbs
A Concordia University study finds that seniors in Canada’s six largest cities are moving to the suburbs at a faster rate than all other age groups.

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Carrick on money: Thirty financial milestones to reach by age 30

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Thirty financial milestones to reach by age 30
Number One on the list is a sign of the times for sure: Financial independence from your parents.

Gen Y and the stock market
A smart analysis of how much exposure young investors should have to stocks. Conventional wisdom says a lot of stocks, even all stocks, is fine because 20- and 30-somethings have decades to go until retirement. But some experts question whether young people can tolerate the risk of having a portfolio heavy on stocks plunge in a bear market.

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Carrick on money: They sold their house for 52.5 times what they paid

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

They sold their house for 52.5 times what they paid
A realtor’s blog does something really cool – looking back at what it was like to buy a house in the 50s, 60s and 70s. Leading off is the story of a couple who bought a Toronto house for $30,500 in 1957 and sold it this fall for $1.6-million.

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Carrick on money: Twenty-three more things the middle class can’t afford

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Twenty-three more things the middle class can’t afford
Another blog submits its list of things the middle class used to take for granted, but cannot easily afford any longer.

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Carrick on money: Meet Canada's richest people

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

Meet Canada’s richest people
These people can afford it all. They’re the individuals named in the Canada’s Richest People 2015 edition of Canadian Business.

We need the stock market to fall 25 per cent
Wall Street Journal columnist Jonathan Clements shows there are negatives to the stock market’s quick, sharp recovery from the slump last month. The higher stocks go, the lower expected future returns are.

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Carrick on money: How to be frugal and still get a girlfriend

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

How to be frugal and still get a girlfriend
Tips on being savvy with money while not turning off the women you date.

Cheap date ideas that aren’t lame
Frugal and fun stuff to do.

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Carrick on money: Under 30? Old people stole your future

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

Under 30? Old people stole your future
This essay from The Telegraph in the UK fans the flames of inter-generation conflict by comparing the lot of young people today with baby boomers.

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Carrick on money: Canada’s favourite travel rewards credit card is…

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

Canada’s favourite travel rewards credit card is…
American Express Air Miles Platinum won in the annual fee category, and Amex Air Miles won in the no-fee category. These cards were the top choice of the 18,179 who voted via the Travel  Rewards Canada website.

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Carrick on money: Seven things the middle class can’t afford any more

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

Seven things the middle class can’t afford any more
This is a U.S. list and it’s presented here as context for assessing the Canadian middle class. The things listed as unaffordable for Americans don’t seem to be such a problem here. Example: New vehicles. Canadians are buying new cars and trucks at historically high rates, although they’re using seven- and eight-year loans to do it. Wait a second – maybe our middle class isn’t so much better off.

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Carrick on money: The top five regrets of the dying

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

The Top Five regrets of the dying
Much to think about in this list, which appears on a website for financial advisers.

Just say no to the upsell
Don’t let stores convince you to buy something more expensive than you came in for.

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Carrick on money: Twelve moves that make you a cheapskate

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

Doing these 12 things makes you a cheapskate
An amusing list that includes stiffing restaurant waiters on tips and prying apart two-ply toilet paper.

Stocks and other terrible investments
Investor advocate Dan Solin lists what he considers to be terrible investments, as well as some good ones. Solin doesn’t like individual stocks – he prefers index funds that give you exposure to all the stocks in a particular stock index.

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Carrick on money: Choosing between eloping or a lavish big wedding

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

Should my daughter elope or have a big wedding?
The question really being asked here is whether it’s OK not to spend lavishly on a big wedding.

Planning your 40-year retirement
In the United States, advisers are starting to look at increasing lifespans and preparing clients for 40 years in retirement.

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Carrick on money: Your five-minute retirement readiness checkup

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

Do your own five-minute retirement readiness checkup
Introducing the newly revamped version of the federal government’s Canadian Retirement Income Calculator. If you don’t know where you stand on retirement saving, it’s an excellent place to begin.

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Carrick on money: Rich parents are a millennial’s best friend

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

Rich parents are a millennial’s best friend
Toronto Life investigates the phenomenon of parents providing financial support to their adult kids through help buying homes, paying the mortgage and covering costs like daycare. I contributed some cautionary comments on parents helping their kids buy a house.

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Carrick on money: This space cadet is raiding his retirement savings

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

This space cadet is raiding his retirement savings
An American named Jim Clash has spent a chunk of his retirement savings to pay for a reservation with Virgin Galactic to travel into space.

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Carrick on money: The dangers of low interest rate tunnel vision

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

The dangers of low interest rate tunnel vision
Low mortgage rates are the glue holding our housing market together. But this blog post makes the point that there’s more to a good mortgage than a low rate.

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Carrick on money: How a millionaire farmer grew his money

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

How a millionaire farmer grew his money
Wealth-building lessons from a Missouri farmer named Gary.

How to undo your money mistakes
This blogger figures out a way to earn back the money he lost or wasted. He says: “People talk a lot about regretting financial mistakes but rarely does anyone mention punishing themselves for those mistakes.”

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Carrick on money: My home is the best investment I ever made

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

My home is the best investment I ever made
Don’t say that to Kyle at the Young and Thrifty blog, or he’ll do something gross. In this post, he questions idea of houses as investments. It may not surprise you that he quotes me questioning the idea of blanket acceptance that homes are investments.

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Carrick on money: I married money

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

The lifetime guide to avoidable financial blunders
A decade-by-decade look at key financial mistakes to avoid.

I married money
A Washington Post columnist writes about how her marriage, like many others, has helped her achieve greater financial success than if she were single.

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Carrick on money: A report from the front line of housing bidding wars

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

Bidding wars for houses: A report from the front
A Q&A with a woman who participated in three bidding wars before nailing a house in Toronto.

Stamps, guns and vases
Odd items people buy to store their wealth.

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Carrick on money: Looking for a formula for retirement success?

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Revealed: A formula for retirement success
Savings x return x time = retirement. Read the details here.

It’s not you – the taxman really does talk gibberish
CBC reports that on an internal Canada Revenue Agency audit that says the communications the department sends to taxpayers are “poorly organized, confusing, unprofessional, unduly severe, bureaucratic, one-sided and just plain dense.”

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Carrick on money: Will you be haunted by your choice of home?

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

Will you be haunted by your choice of home?
This video explains how to find out if the house you’re looking at buying is a “stigmatized” property, which means the scene of a crime. Don’t expect your realtor to tell you.

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Carrick on money: Ten things billionaires won’t tell you

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

Ten things billionaires won’t tell you
Number One on the list: We just get richer and richer.

A car-load of debt
This chart show the striking level of growth in car loans of 72 months or longer in Canada. My own rule of car buying: If you can’t afford to finance a vehicle over five years or less, you can’t afford the vehicle.

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Carrick on money: Your Starbucks habit is not why you’re broke

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

Your Starbucks habit is not why you’re broke
“There’s always somebody whining about Starbucks,” a blogger says in a strong rebuttal to all the thinking about cutting back on small luxuries as a budgeting panacea.

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Carrick on money: Confessions of a disgusted former broker

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

Confessions of a disgusted former broker
A onetime broker on Wall Street recalls the day he got fed up with his job and what it required him to do.

How working at home can save you money
A work-at-home mom lists three ways she has reduced spending.

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Carrick on money: Five thoughts for rookie investors

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

Five thoughts for rookie investors
I like this list because it mentions the need to consider your debt level before starting out as an investor.

Don’t worry about a housing correction
A money management firm looks at both sides of the argument about whether Canada’s housing market has overheated. The conclusion is not to worry. “As usual, Canada will most likely muddle through.”

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Carrick on money: How hot housing markets lock out the young

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

How a hot housing market victimizes the young
This scathing opinion piece looks at how young Vancouver residents are being locked out of a housing market where prices keep rising.

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Carrick on money: Sex or money – what’s harder to talk about?

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Sex or money – what’s harder to talk about?
A blogger looks at the taboos surrounding talk about sex and money and finds that there could be more comfort discussing sex.

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Carrick on money: The best countries to grow old in

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

The best countries to grow old in
Canada ranks fourth, Norway first. You’ll also find a list of the worst countries in which to be a senior.

Seniors struggle with housing costs…
Declining incomes and rising home expenses are squeezing seniors’ budgets.

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Carrick on money: The ridiculous expectations of the middle class

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

The ridiculous expectations of the middle class
A look at one U.S. family’s finances shows a big gap between lifestyle expectations and cash flow.

Canada’s dumbest charges
CBC’s Marketplace asked viewers which fees and charges bugged them the most. Here’s the list.

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Carrick on money: Condo boom rolls on as buildings fall apart

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. 

Condo boom rolls on as buildings fall apart
Canada’s condo market is drawing money from foreign investors looking for a safe haven. But the quality of the construction in these buildings isn’t always as reliable as our banking system.

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Carrick on money: How to save a fortune, and your marriage

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

How to save a fortune, and your marriage
Simple – don’t overspend on a wedding. I like this quote: “A diamond may be forever, but a marriage built on materialism and debt sits on shakier ground.”

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Carrick on money: Try not to do anything stupid with your stocks

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Try not to do anything stupid with your stocks
A Maclean’s writer says fear is back in the stock market, and that means people will be tempted to abandon sound investing plans. Key point: “Corrections are a regular part of the market, despite what the last two years might have led some to believe.”

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Carrick on money: The moment I outgrew my money

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

The moment I outgrew my money
A blogger reflects on the moment she realized she achieved financial peace by realizing she had enough money and didn’t need to struggle so hard to make more.

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Carrick on money: Will rising rates crush young condo buyers?

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Will rising rates crush young condo buyers?
A look at how the young people who are big buyers of condos these days would fare if interest rates were to rise.

Why plunging oil prices both help and hurt
They mean lower gasoline prices, but also lower prices for energy stocks. That’s the key consideration here in Canada, where energy is the second largest stock market sector.

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Carrick on money: Great news for millennials: Stocks are plunging

ROB CARRICK

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Great news for millennials – stocks are plunging
A sensible argument is raised here – with decades to go until retirement, young people should jump on every chance they get to buy stocks when they’ve fallen hard in price.

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Carrick on money: Ten ways the rich are smarter with money

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Ten ways the rich are smarter with money
A blogger lays out the ways that wealthy people can make smarter money decisions than your everyday wage slave.

How to put your old iPhone to work
A surprising number of ways to keep your old smartphone useful instead of junking it.

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Carrick on money: Never say this word to a stay-at-home parent

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Never say this word to a stay-at-home parent
The word is “allowance,” and it shouldn’t be used to describe money set aside for a stay-at-home parent to spend.

RESPs, from start to spend
A concise overview of how to set up and contribute to a registered retirement education savings plans, a too-often overlooked savings vehicle that parents and grandparents can use to help their kinds pay for a post-secondary education.

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