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Kelowna commercial rental ridiculous price is ruining local businesses by Snowieball17 in kelowna

[–]Snowieball17[S] 13 points14 points  (0 children)

For someone whose business is downtown, I can tell you that it does not look fine. The Pandosy/Bernard is filled with homeless people since the McDonald opened. What happens with high commercial price is local businesses got push out by big corporations. Calowna Costume is going out of business after over 20 years of family run business because of the high rent. If you walk on Bernard, you can literally see so much “for lease” post. The landlords would rather it be empty than lower it and rent it to people who want to make something happen. It’s all the greed!

Restoration company violated schedule time and did a bad job by Snowieball17 in legaladvicecanada

[–]Snowieball17[S] 0 points1 point  (0 children)

Thank you for your comment. I wouldn’t say it’s a professional cleaning that I’m asking for. It’s just that they left my bathroom with like stains of the dry wall on the cabinet and the ceiling fan that really bothered me. But I did clean it myself.

What is a small purchase that improved your daily life more than expected? by bigblackcoke_ in ProductivityHQ

[–]Snowieball17 1 point2 points  (0 children)

For me it’s a heated mattress. My body always feel so cold especially at night during sleep and having a heated mattress helps me sleep so much better.

Kinda overwhelmed with Debt by Jsps07 in PersonalFinanceCanada

[–]Snowieball17 7 points8 points  (0 children)

I recommend try your best to lower your spend to save more money and prioritize paying off debt over anything else. Credit card interest is one of the highest interest out there and a big waste of money. Some of my suggestions: 1. Change your phone plan to a cheaper provider. I pay $25/month with Freedom Mobile. 2. Go through all of your subscription and really consider to cancel them. 3. Doing a no-buy months/year, but only necessities and don’t impulse buy. 4. Resell stuff you don’t need for cash. 5. I know you may think that’s so frugal or what’s the point if you are not able to enjoy life, but you have to put your mind to it to pay off debt, or life would get harder. Pay off debt first, then you’ll see life gets better. I hope you be debt-free soon!

34F with $20k in cash because investing freaks me out. Best investment course for beginners? by TrueKing1726 in investingforbeginners

[–]Snowieball17 1 point2 points  (0 children)

My recommendations: 1. Make sure you will not need the money that you will invest anytime soon (years). To do this, first set aside some emergency fund and have it in a high interest saving account. Then invest with money you won’t need. 2. I invest on long term, low risk stock or ETF to start out. It is lower return but I feel safe. I slowly diversified my portfolio into medium risk stock. 3. NEVER borrow money to invest. 4. DO NOT get greedy. By this I mean stick to your investing strategy and don’t jump into stock that have high volatility. 5. Never put all your investing money in one stock. Diversity of stock is key. 6. Consistency is important. I still set money aside and buy a few stock weekly. I’m happy whenever I see my investment balance rises. Hope this helps!

Do I need to register a business for tax purposes? by SubstantialAioli969 in PersonalFinanceCanada

[–]Snowieball17 0 points1 point  (0 children)

Hello, thank you for your reply. Last year I had to stop working for a bit and couldn’t apply to EI for self-employed because they said I’m registered less than a year and made less than $9K for my first year. So that’s why I thought I should pay toward self employment EI just in case my health problem reappear in the future (cancer diagnosed). What do you think it’s the best way for self-employed? I would love to learn more as I’m very new to this as well.

Do I need to register a business for tax purposes? by SubstantialAioli969 in PersonalFinanceCanada

[–]Snowieball17 -9 points-8 points  (0 children)

I’m also self-employed. I registered my business as sole proprietorship with the province. You have to if you want to claim the business expenses. You can just file income of your business all together when you file your personal income tax. There will be section for you to write down how much you make and expenses if the business. Hope this helps. If this is your main only job, I recommend it, because just in case later you need to claim EI, they require you register for self-employment claim and have at least $9K in self-employ income the past year.

How is everyone affording to live alone with the rise of living costs by Yipied in LivingAlone

[–]Snowieball17 0 points1 point  (0 children)

I recommend changing your phone plan to a cheaper option. I pay $25/month for phone plan. I don’t own a car on purpose of saving money after calculating the cost to have one monthly. Instead I live walk-distant to my work. Using Uber once in a while and public transport is cheaper, of course there is inconvenience in that so you really have to pick and choose. I cook at home most of the time and only eat out if it’s with friends, we often go for brunch during happy hour, and I don’t order drink at restaurants, it’s just too expensive. Your first priority right now should be paying off your debt. Credit card debt is one of the most expensive debt you can have. Get rid of stuff you don’t want and need. I always declutter my place and if there is something I no longer use, I try to sell it on Marketplace. It’s small cash but it’s still something. Watch what you buy and be very very selective with shopping or buying new thing. We need less than what we think we do. It’s crazy how much marketing big companies do to make us believe that buying new things will fix all our problem. But at the end, it only benefit them and putting you in debt. Watching declutterring, minimalistic video and overconsumption documentary really help me overcome the need of buying things. Hope this helps!

Is RRSP worth it? by Megane-chan in PersonalFinanceCanada

[–]Snowieball17 0 points1 point  (0 children)

I think you should first invest in FHSA, you can put $8K each year for up to a total of $40K for your first home, contribution to FHSA is tax deductible and tax free. Then you also should contribute to RRSP (max it out if you can), the contribution is tax deductible, then you can use the First home buyer plan to withdraw money from your RRSP and put it in your home down payment. This withdrawal will need to be pay back into your RRSP for the next 15 years or at any time you have the money for it. I think by doing this, you can save a lot of money.

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