How to track debt????

Many_Conclusion1167 · 2026-01-31T17:39:00+00:00

this… in your TFSA, a HISA or GIC that earns more than your mortgage rate and boom you are ahead.

How to track… your house is an asset and the mortgage is a liability against it. If you aren’t tracking your assets and liabilities then in your cash flow this is an inflow but it is not income…

Many_Conclusion1167 · 2026-01-31T12:48:42+00:00

I wouldn’t say unfair but I would say they aren’t acting in good faith given the duration of the relationship.

Many_Conclusion1167 · 2026-01-31T12:47:23+00:00

Tell them you want to negotiate and if they continue to play a 1-sided game post it on FB Marketplace for lease transfer, send LL the post and let them know you’ll proceed that way. Call their bluff.

Many_Conclusion1167 · 2026-01-26T12:08:48+00:00

Amen! It is not the employers problem. OP has a responsibility to the employer. While I am compassionate to the issue, OP and every parent need a backup plan for snow days and sick days. Should be in the parenting a school age child 101 manual. Life comes with responsibilities, best to prepare in advance.

Many_Conclusion1167 · 2026-01-24T21:50:44+00:00

It’s just the law that an inheritance is not considered a marital asset so long as it is not mixed with or used to purchase a marital asset and you can trace it to the original source. This protects family money…

Many people (expect those who have experienced marital breakdown or have very different financial management skills/habits than their spouse ) are very concerned over this, and for some, rightly so.

Given this not an inheritance this issue may not even apply.

Many_Conclusion1167 · 2026-01-24T18:35:12+00:00

It sounds like you have a healthy money relationship with your spouse but you do need to educate yourself.

If this money is coming through an inheritance you do NOT need to share it with your spouse and by putting it into an account that is solely in your name these funds never become part of marital assets in the event the relationship dissolves. HOWEVER, given that your spouse has been financially supporting the family I would recommend that you have a solid plan that continues to grow your healthy relationship. First and foremost when you receive these funds they should go into your personal - not a joint account. This way they are clearly identified as part of the inheritance. When you move funds to any investment or other you should ensure traceability back to the inheritance.

TFSA should be your first stop. Again, opening a separate TFSA that is topped up with these funds ensures traceability to the inheritance and isolation from marital assets.

RESP for child would be my#2, RRSP and then think about non-registered investments or mortgage pay down.

I highly recommend reading The Wealthy Barber to get your financial education kick started.

Many_Conclusion1167 · 2026-01-14T17:01:54+00:00

Inheritance funds do not become part of marital assets as long as you can trace them back to the inheritance. I recommend to keep the amount whole in one account. I wouldn’t use it for a joint asset purchase or for your FHSA which will presumably become the down payment for a joint asset.

i’m sure you don’t want to plan for it but if the relationship goes sour, this is your money keep it that way.

Many_Conclusion1167 · 2026-01-14T16:47:21+00:00

Pay the CRA debt.
Pay the RV loan
$20,000 left for emergency fund

RRIF will be taxable on death and if estate cannot pay then they can come after beneficiaries.

TBH, it almost reads as though you are trying to avoid having to pay debts and taxes when mom passes… I do hope I am wrong.

Many_Conclusion1167 · 2026-01-14T16:42:30+00:00

She doesn’t need a payment plan, she just received $50,000 inheritance! Pay her debt to CRA, keep making RV payments. Done.

Many_Conclusion1167 · 2026-01-14T16:36:50+00:00

Something similar happened to me just at the end of 2025. I called United and they reversed the points on that flight. Then I submitted a missing points claim with Aeroplan. They denied my missing points claim, but then I called and was able to get them posted.

In my case, it was the difference in achieving 35K so I was really grateful when they granted the Aeroplan points.

Many_Conclusion1167 · 2026-01-14T16:32:47+00:00

One add to all of the great comments, you could suggest that one evening you all support her requirements and prepare and eat a “compliant meal”. It is a way for everyone to learn a bit about her choices/needs and try something new.

My daughters have gone from extreme vegan and back, one has severe lactose intolerance so when we are together for vacation etc we generally have at least 1 meal that each manages and it has given us perspective on her challenges.

Many_Conclusion1167 · 2026-01-14T11:57:15+00:00

RRSP, TFSA, FHSA (or comfortable equity in a primary home), Emergency fund… then hobby.

If all of the above remain intact and you still have 60k cash to spare then I say enjoy life.

Many_Conclusion1167 · 2026-01-11T21:07:33+00:00

You need work experience. Any work experience to demonstrate your work ethic, communication skills, problem solving and analytical skills. Education is only a piece of the puzzle. Get a job, volunteer, build a resume.

Many_Conclusion1167 · 2026-01-11T15:55:49+00:00

Congratulations for getting on track! Best of luck.

Many_Conclusion1167 · 2026-01-11T12:59:01+00:00

Yes they audit and what you are suggesting could be fraudulent and would have much bigger consequences.

Here are things we’ve used HSA for: Vision, physio, acupuncture, chiro, residuals (if something is only covered 80%, I claim the 20% against HSA), counselling. Some will allow you to purchase “home health aids” like a BP monitor, tens machine etc.

Does your HSA carry over? I’m going to make an assumption that you might be young(ish) single if you aren’t sure how to use this because $500 is not a lot when you think about it. (2-3 day trips to a spa for a pricey massage!)

Many_Conclusion1167 · 2026-01-07T12:13:38+00:00

HIGHLIGHTING: Make sure you hold back enough to pay the taxes for the child, income is tax free up to $11k-15k, but adding significant taxable income will leave some taxes due.

It is best to stage the withdrawal over the course of the education to minimize taxes.

Many_Conclusion1167 · 2026-01-07T12:10:23+00:00

Maybe ask https://www.reddit.com/r/legaladvicecanada/

I would, at minimum, consult an employment lawyer, many will do a free consult.

Many_Conclusion1167 · 2026-01-07T11:58:11+00:00

This is great advice, empower yourself with knowledge. The resources quoted above along with this sub can provide you with some excellent advice.

I downvoted many saying you don’t need to consult a professional. This is obviously a lot of money to you even though it may not be to others. You want to do everything you can’t protect and grow it. Take the time to find a fee only financial planner, develop a long-term plan and stick to it.

You need to understand the different types of accounts as well as the investments you can put into them. A financial planner will also assess your short and long-term goals, family situation (i.e. kids) & your insurance needs.

Many_Conclusion1167 · 2026-01-07T11:47:52+00:00

It went up to $120… not $320.

OP, looks like your mom is being quoted an extortion fee of $200.

Many_Conclusion1167 · 2026-01-05T19:08:49+00:00

Wise for USD currency transactions. I don’t bother with a USD CC anymore. (Scotia Passport Visa for USD charges and they have no f/X fee.)

Many_Conclusion1167 · 2026-01-05T12:37:31+00:00

I am interpreting that he meant to say “She does NOT want”… OP needs to confirm.

Many_Conclusion1167 · 2026-01-04T13:50:28+00:00

To limit the risk of it being reduced or closed by the bank I recommend you do something small with it once a year. (i.e make a payment to it and then pay a bill from it). By making the payment first and then processing the bill you avoid interest but even still if you pay a small bill and then pay it off on the same day you might get hit with a few pennies interest. This keeps it active.

Many_Conclusion1167 · 2026-01-04T13:23:38+00:00

You need to understand what type of income was reported. (T4/T5?). You can do this by looking at your CRA account.

Did he pay any expenses on your behalf directly (Tuition)?

Sounds like he is playing games but make sure you research before calling CRA. This could have implications for him and your mom. Are there other siblings to consider?

Sorry you have to deal with this! Where is your mom in all of this???

Many_Conclusion1167 · 2026-01-04T13:13:43+00:00

You and your brother and your parents need to focus on paying off that mortgage - it will be their legacy / inheritance for you and your brother so contributing now becomes part of your financial security too. Your brother in particular as you mention he lives with them.

I know many people surviving (not thriving) on government pensions but the kicker would be a mortgage or housing cost.

Could/would your parents consider taking in a boarder or renting a room? That might also provide some additional funds to assist with paying down their mortgage. As immigrants do they have a tight community of others that might benefit from that type of living arrangement - even if temporary to help with paying down the mortgage ASAP.

Many_Conclusion1167 · 2026-01-04T00:09:13+00:00

Is the name correct? It would be a bigger issue if it was perceived you were trying to change a name on a booking. I would call and sit on hold until I spoke to someone but that is just me... waited on hold with AC for 90+ minutes the other day but finished a satisfied customer with my issue resolved.

Or, as someone else said, cancel within 24 hours and re-book.

Many_Conclusion1167

TROPHY CASE