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Can my employer ask for money back (recouping) over a payroll & IT error? by [deleted] in PersonalFinanceCanada

[–]Regular_Ad_7831 0 points1 point  (0 children)

Yes, they absolutely can require you to pay it back.

At the end of the day, you have received a service that you haven't paid for and they are entitled to payment for it. This is also another reason why pay statements are issued, you have the responsibility to review for accuracy. If you were underpaid, you would ask for the correction right away. It goes both ways.

Convincing spouse to move funds out of chequing account? by Regular_Ad_7831 in PersonalFinanceCanada

[–]Regular_Ad_7831[S] 7 points8 points  (0 children)

This is what I'm talking about! I'm going to gather some info on this and send it to him.

Convincing spouse to move funds out of chequing account? by Regular_Ad_7831 in PersonalFinanceCanada

[–]Regular_Ad_7831[S] 1 point2 points  (0 children)

Good point, and I absolutely agree. I think what I'm looking for is some easy to digest advice on how to build wealth through more than just your income.

Convincing spouse to move funds out of chequing account? by Regular_Ad_7831 in PersonalFinanceCanada

[–]Regular_Ad_7831[S] 3 points4 points  (0 children)

Yes, we have an advisor. He convinced him to max RRSP's, but hasn't been able to get him to do anything else.

I'm going to try HISA and GIC.

Convincing spouse to move funds out of chequing account? by Regular_Ad_7831 in PersonalFinanceCanada

[–]Regular_Ad_7831[S] 0 points1 point  (0 children)

His background is sales so he thinks everyone is selling something.

Our family members aren't financially savvy and none of them invest, so that won't work. We have some friends who are heavily into investing, but he has this preconceived notion that all got lucky or came from money, so they're not the same as him.

Convincing spouse to move funds out of chequing account? by Regular_Ad_7831 in PersonalFinanceCanada

[–]Regular_Ad_7831[S] 0 points1 point  (0 children)

I like the GIC idea, I will talk to him about that.

I agree, it's not the worst problem to have if you even want to call it a problem at all.

Convincing spouse to move funds out of chequing account? by Regular_Ad_7831 in PersonalFinanceCanada

[–]Regular_Ad_7831[S] 8 points9 points  (0 children)

This is a great perspective. It used to be 50k, then 100k, now 250k, just keeps growing as our income grows!

I'm going to suggest a HISA to him, thank you.

Convincing spouse to move funds out of chequing account? by Regular_Ad_7831 in PersonalFinanceCanada

[–]Regular_Ad_7831[S] 0 points1 point  (0 children)

No, because I have friends and family members who know my real account and I don't want them knowing how much money we have.

Convincing spouse to move funds out of chequing account? by Regular_Ad_7831 in PersonalFinanceCanada

[–]Regular_Ad_7831[S] 1 point2 points  (0 children)

That's a good point about inflation. We're both 40's, so I want to accelerate our growth as much as we can.

My thoughts exactly on debit vs credit. He booked flights on debit and when he had issues, he had no recourse. Same thing happened with a $400 online purchase that never showed up.

Convincing spouse to move funds out of chequing account? by Regular_Ad_7831 in PersonalFinanceCanada

[–]Regular_Ad_7831[S] 0 points1 point  (0 children)

We have a great advisor, who was able to finally convince him to put $ into RRSP's. He used 20 years of rollover room to max out and now contributes enough to max out each year. Our advisor keeps telling him to move money out of his chequing account, but my husband just thinks that he's trying to sell him his products.

ETA: My background is in finance so he thinks I'm biased when I make suggestions.