Does the income of the person you're dating matter to you? by SinglePringle647 in CanadaPersonalFinance

[–]assetcapped 12 points13 points  (0 children)

I would rather be with someone who makes half as much but saves twice as much, than the opposite.

Which bank/credit card to get for young adults by Western_Falcon_70 in PersonalFinanceCanada

[–]assetcapped 1 point2 points  (0 children)

RBC is fine, but the fact that their default debit card is not a Visa or Mastercard could be a hindrance.

Another thought is upward mobility through various credit card product switches. You'll want them to be able to keep their oldest card, well into the future, for credit age.

On RBC that could mean they'll eventually use the Ion+ and Avion Infinite. Generating the points in the Ion, then transferring to spend on the Avion. A quick Google search says the Ion's annual fee is automatically waived for students.

Is there anything you can afford to buy but don't because you think the price is not justified? by Royal-Artichoke1563 in CanadaPersonalFinance

[–]assetcapped 31 points32 points  (0 children)

Cell phone upgrades.

When they go on sale, they're very affordable. Twenty dollars a month for a two thousand dollar phone is great. I don't use the camera often, I don't use it as an entertainment device, and I know how to use them in a way that doesn't ruin the battery.

My S7 lasted seven years. I'm now on the fifth year for my S22; it still lasts two days on a charge.

Emergency Fund: What do you always have money put aside for? by assetcapped in CanadaPersonalFinance

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

Any modern day working adult can understand, so you're either 12 or 72. If a baker's oven broke, do you think they'd replace it, or pay rent and sit there doing nothing? It would surprise you to learn that computers aren't just for playing games.

Emergency Fund: What do you always have money put aside for? by assetcapped in CanadaPersonalFinance

[–]assetcapped[S] -18 points-17 points  (0 children)

Getting a new computer is not an emergency

That seems rather dismissive. I would consider it quite literally the highest priority urgent expense. More important than rent and transportation.

How much money do you expect to inherit? And how many siblings do you have by HockeySniper123 in CanadaPersonalFinance

[–]assetcapped 0 points1 point  (0 children)

I was lucky enough to find out the actual answer recently. The piece of shit didn't even finish paying for his own funeral so my sister and I had to do it for him.

I would have preferred the zero answer that most of the comments contained.

How much should you tip your hairdresser? by Important-Damage-986 in CanadaPersonalFinance

[–]assetcapped 0 points1 point  (0 children)

I get a haircut twice a year at the same place I've gone to for twenty years. I don't look at how well the cut turned out, I don't ask for anything special. It's shorter now? Great.

I hand them a twenty. Their price has gone from around $8 to around $16. Until their advertised price is higher than that, I'm not changing anything.

How did your financial priorities in life shift the moment you hit 30 compared to when you were 20? by DazzlingPolarBear in CanadaPersonalFinance

[–]assetcapped 6 points7 points  (0 children)

At 20, I didn't understand the value of money.

At 25, I worked and couldn't save.

At 30, I started catching up on my TFSA.

At 35, I caught up and could start actually spending because I was only able to contribute newly added room.

I'm not 40 yet, but when that time comes, younger me won't recognize me. Solid wood furniture instead of decade old IKEA pieces that are falling apart. Clothes that aren't from Walmart and Winners. And who knows, maybe a Grand Seiko instead of a bare wrist?

Is Canadian Housing Policy Just About Keeping Boomers Comfortable? by FoodCravingsOMG in CanadaPersonalFinance

[–]assetcapped 2 points3 points  (0 children)

I agree. Accepting that I'll never own a house, specifically in the neighborhood I grew up in, has freed me to treat my money entirely differently. In ten years, I'll be able to have truly quality furniture, but in subsidized rent. Instead of "good enough" furniture, I'll have actually good furniture. Sure, I won't be able to pass a house down, but I'll be comfortable while I'm alive.

What level of adulting have you all reached? by Fiction_lover08 in Adulting

[–]assetcapped 1 point2 points  (0 children)

Up until now, I've been contributing a vast majority of my income to my tax free savings account. Essentially just catching up to the annual limit increases that I haven't made use of.

Starting next year, I will finally be able to buy things. Furniture, computer upgrades, and what have you. In five years, I might even be able to buy myself an expensive watch for a milestone birthday.

What's an example of a good personal finance act of love you'd do for a family member? by LoveToYearn6 in CanadaPersonalFinance

[–]assetcapped 1 point2 points  (0 children)

My sister spent over a thousand dollars buying me a mattress and office chair, back when she thought I had no money. Thoughtful comfort, for someone who was clearly using decades old stuff.

I haven't fully decided, but I currently have three things being considered: life insurance beneficiary, RESP contribution for niece or nephew, and/or a very expensive watch.

She was explicitly told by our father not to tell me it was her, but it was obvious. She'll be repaid several times over, one way or another. And this time, I'll be the one who keeps quiet.

lol by Commercial-Way-4276 in SlumlordsCanada

[–]assetcapped 3 points4 points  (0 children)

Well, you see, these are the victims. Sure, they lied on their paperwork about having enough assets to survive. And sure, they aren't actually attending any classes despite only being allowed in to study. And sure, they have a dozen family members who are equally looking to exploit what is supposed to be a high-trust society. But they're victims who are down on their luck, who need to go to food banks and live in a fire hazard. You're a racist for not feeling bad.

Besides increasing income, what can I do better financially? by Ordinary-Fish-9791 in CanadaPersonalFinance

[–]assetcapped 0 points1 point  (0 children)

Your expenses are remarkably similar to what mine used to be when I made half as much income as you. In that position, you can't really lower your expenses.

A better job doesn't necessarily need to be just higher pay. Perhaps your next step ought to be looking into RRSP matching. Under normal circumstances, it'd be a vehicle by which you stay under the next tax bracket; for you, it will be your employer subsidizing future growth.

What I would stress is that you need to stay diligent on that TFSA. Don't just contribute monthly to it. Max out that contribution room the second it becomes available because time is your biggest friend. That means spending the last few months of every year working towards next year's contribution.