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Tips for Your RRSP Contribution

Today is the deadline for RRSP contributions for the 2009 tax year. If you haven’t done so already, you have until 11:59 PM tonight to make a contribution. If you don’t have a plan already, your best bet might be to park the contribution temporarily in cash until you have a plan in place.
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Tips for Your RRSP Contribution is brought to you by Canadian Capitalist — Helping you to invest & prosper.

Life After Credit Card Debt – A Stressful 2010 So Far

Hi Everyone. Tricia here with a long overdue update. I missed December’s update completely. The last Friday of the month (that’s when I update) landed on Christmas day and in the excitement I forgot about it. When it was time to write January’s update, I didn’t feel like writing a single [...]

Best Banks With Consistently High Interest Rates

It’s one thing to find a bank with a high interest rate, and another thing to have that rate stay high. Many banks post teaser-like rates to attract deposits, and then hope you’ll be lazy and stay while they gradually become uncompetitive. A post yesterday on the NY Times Bucks blog explored ways to counter this.

Bankrate does a quarterly ranking of top banks with consistently high yields, which is “based on the number of times within the quarter that an institution’s yield was among the top 20 for the product category and the relative position of the yield in relation to the others in the product category.” But that’s only one quarter. So the Times asked them which banks have been on top for every single of the last eight consecutive quarters (Q1 2008 to Q4 2009). Good idea!

The next natural question: Which of these banks has the highest rates now? So I visited each site and found the current rates (as of 2/25/10) for their highest yielding savings account (or money market) and their 12-month CD. Since some of the rates were tiered, I picked the rate for a $10,000 deposit and also included the minimum balance needed to avoid fees. Here are the results, sorted by top overall yield:

Banks 
Online Savings / Money Market  
12-month CD 
1.51% APY / 2.25% Intro ($5k+)
1.49% APY
1.40% APY ($10k+)
1.60% APY
1.39% APY (No min)
1.59% APY
1.25% APY ($1k+)
1.50% APY
1.13% APY ($500+)
1.50% APY
0.90% APY ($10k+)
1.30% APY
0.85% APY ($10k+)
1.15% APY
0.50% APY ($5k+)
1.35% APY
0.50% APY (No min)
1.10% APY
0.50% APY ($1k+)
1.06% APY
0.15% APY ($10k+)
1.11% APY

New Credit Card Regulations? No Reason to Rejoice.

I was excited to hear about the Credit Card Accountability Responsibility and Disclosure Act of 2009. I thought it would finally give people trying to reduce debt, a real chance at making headway.
Silly optimistic me.
NBC reports new ways credit card companies can sneakily get around the rules and find ways to make paying off [...]

AT&T Wireless AutoPay $20 Promotion

Looks like AT&T Wireless is offering folks a $20 gift card if they sign up for automatic payments on a Mastercard. Good for covering part of those iPhone monthly fees!

You will receive a confirmation email in 1-2 days and your Gift Card will arrive in 4-6 weeks. It’s that easy! Log in today.

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