Graeme Roy/The Canadian Press
Today's newsletter was compiled by Iain Boekhoff.
Toronto's soaring real estate prices have tapered a bit in recent months, but living downtown might be just as affordable as commuting when you factor in all the costs. That's according to an analysis of thousands of homes for sale in the GTA by TheRedPin that balances affordability with proximity to downtown Toronto. Ajax, Pickering and Whitby top the list of affordable commuter cities, while Burlington, Keswick and Oakville are at the bottom. On top of affordability of housing and commute times, factoring in your health – those with longer commutes are more likely to not get enough sleep, be obese, suffer from depression and have money worries – might make downtown Toronto a more attractive choice.
Subscribe to Carrick on Money
Are you reading this newsletter on the web or did someone forward the e-mail version to you? If so, you can sign up for Carrick on Money here.
NEW: Get the Real Estate newsletter, covering the housing market, mortgages, deal closing, design and more. Sign up here
The cheapest week to travel this summer
There's still lots of summer left and if you haven't used your vacation days yet, you'll find cheaper airfare the week of August 28, with prices 17 per cent lower than the rest of the season.
Extreme mortgage burning
Making sacrifices to pay off your mortgage in just a few years may not appeal to everyone but it can save you thousands.
How to save money at fairs, carnivals and exhibitions
Taking a family out for a day can add up quickly with admission, food, rides and other attractions eating up your budget. Here are some strategies to make your day a fun time without going broke paying $4 for a bottle of water.
Why robo-advisors aren't just for millennials
While online financial startups target millennials, it's Baby Boomers and Gen X that could benefit most from the lower fees robo-advisors offer since they have more to invest.
Most Canadians would require debt to withstand unexpected life events
A survey from MNP found only one-third of respondents wouldn't have to borrow money if they got a divorce and only 27 per cent said they could lose their job without taking on more debt.
In case you missed these Globe and Mail personal finance stories
–ETFs for an RESP? The math doesn't work for this investor
–How to avoid RESP penalties if your child quits university
–How you own your home matters for tax planning
More Carrick and money coverage
For more money stories, follow me on Twitter and join the discussion on my Facebook page. Millennial readers, join our Gen Y Money Facebook group.
Send us an e-mail to let us know what you think of my newsletter.
Want to subscribe? Click here to sign up.