10 tips for doing laundry efficiently

16 Apr

By Sheryl Smolkin

Piles of laundry loom ever larger and more ominous if you don’t stay on top of this tedious task. Who hasn’t discovered when dressing for an important meeting that their favourite white shirt has a big stain or needs ironing?

And when it comes to laundry, the larger your family, the bigger the problem is. In the interests of saving you both time and money, here are 10 tips on how to do laundry more efficiently culled from internet sources and my own experience.

  1. Outsource: My dirty little secret is that I rarely do our laundry. One of the luxuries working after retirement buys is a weekly housekeeper who does it for us. But if you have a partner or children, teach them how to do laundry early and make it part of their weekly “To Do” list.
  2. Make it easy: We have our own washer and dryer. However, because they are located in the basement, once a load goes in its easy to forget it still has to be dried and folded. If you are looking for a rental apartment or a new home, having laundry machines on the first floor or even the second floor where the bedrooms are will make the whole laundry cycle less onerous.
  3. Use cold water: There are many commercial laundry detergents available for cold water washing. Your clothes will come out just as clean, and you will use much less energy heating hot water. Your clothes may actually last longer.
  4. Minimize dryer use: Few of us use a clothesline anymore, but those who do say you can’t beat the fresh smell of sheets dried outside. Even if you don’t have a suitable location for a clothesline, you can use a free standing clothes rack for drying more delicate items like lingerie and sweaters in your bath tub.
  5. Maintain your dryer: Be diligent about emptying the dryer lint after every load. Also look for the external vent and make sure it’s not obstructed. Lift up the vent and make sure there’s no lint or anything else that has built up. The external vent blows out very moist air removed from the clothes. If it can’t get out, it stays in your clothes, increasing drying time and increasing your expenses.
  6. Double up: Ideally you should wait to do laundry until you have full loads. But sometimes that’s impossible if you only have a few coloured or white items that need washing but they are needed immediately. However you can save money on electricity if you wait to dry several small loads together.
  7. Read the tags: Are you sending clothes to the dry cleaners that you could wash at home? Most people know enough not to try and launder a good wool suit, but cleaning and washing silk is apparently easy if you follow some precautions. Mountain Equipment Co-op gives instruction for washing down coats and sleeping bags. While they suggest only doing so if you have a front loading washer, I’ve never had a problem with my top loader.
  8. Read the detergent label: Most of us grew up using up to a cup of washing detergent for each load. Now most kinds including liquids are much more concentrated. Read the label on the box to ensure you are using the quantity that is right for your machine. Using less detergent will save you money and your clothes won’t wear out as fast.
  9. Compare detergent costs: It used to be that detergent came only in powder form in boxes of various sizes. Now you can also buy liquid detergent for your clothes and even detergent pods. Figure out on a per load basis what is the least costly and works best for your family. It is not the cheapest but we prefer liquid detergent because it doesn’t leave a soap residue on our clothes.
  10. Wear things more than once: Some kids have their favourite clothing items they would never put in the wash unless you peel it off them. Others throw things in the laundry even if they were just trying them on to see if they are part of a suitable outfit for school the next day. There is a happy medium that will mean fewer loads and less wear and tear on your clothes.

Also see:
12 Laundry tips for maximum energy savings
How to Save Money on Laundry
5 Ways to Save Money on Doing Laundry
How To Do Laundry on the Cheap
10 Ways to Save Money when Doing Laundry

Apr 13: Best from the blogosphere

13 Apr

By Sheryl Smolkin

There were several interesting provincial budgets this week with provisions impacting the cost of health care for seniors.

The Saskatchewan budget removed 6,000 seniors from the province’s drug plan. Previously the threshold of $80,255 was the cutoff for the drug plan. Anyone with a taxable income in excess of that amount was not eligible for the program. Now, the threshold will be lowered to $65,515.

The Alberta budget added a new Health Care Contribution Levy payable through the income tax system that will cost each Albertan up to $1,000 per year. Coverage and eligibility for provincial public health care programs remain unchanged. Unlike the previous Alberta Health Care Insurance Plan premium eliminated after 2008 that was a flat fee for individuals, the Levy has a progressive structure (See Table at p.87). Each member of a family filing an income tax return who has income over $50,000 will be subject to the levy and seniors are not exempt.

On another note, Mr. Money Moustache, a Canadian blogger living in the U.S. was recently profiled in the Globe & Mail. He and his wife retired at age 30. He says A Lifetime of Riches is As Simple As a Few Habits. This means doing less pointless driving around in your car and making fewer visits to restaurants, bars, and coffee shops. He also says alcohol, drugs, cigarettes, TV watching, video game playing, procrastination, unhealthy eating, sedentary living, and unnecessary shopping are other habits that stand between the average person and a truly wealthy life.

On Brighter Life, Sun Life VP Kevin Press presents blogs that will refresh your understanding of employee pension plans and employee benefit plans. He notes that Canadians who do not enjoy employer-sponsored benefit plan membership are at a significant disadvantage because provincial plans provide limited levels of coverage. What’s more, your reimbursements for health and dental claims are not taxable. So you’re almost always better off if your employer sponsors a plan versus paying you a higher salary.

And finally, an interesting post on Our Big Fat Wallet about getting compensated for a flight delay. Dan booked his ticket with Travelocity and he was not notified when the return flight was cancelled. Fortunately, the airline re-booked him several hours later and he received a $100 rebate from Travelocity and $75 from his Scotiabank Momentum Visa Infinite card that provides coverage of up to $500 per trip for trip delays of four hours or more.

Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere?” Share the information with us on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.

 

Apr 6: Best from the blogosphere

6 Apr

By Sheryl Smolkin

As I write this on March 31st, it is for the second time because I closed the completed document the first time without saving it. I can only attribute this oversight to an early April Fools’ Day joke from cyber space!

Here are some interesting blogs I read this week:

For those of you who prefer cash back credit cards over travel cards, Tom Drake on the Canadian Finance blog rates the Best Cash Back Credit Cards of 2015. Top of the list is the Scotiabank Momentum VISA Infinite Card which offers a full 4% cash back on gas station and grocery store purchases. You also receive 2% cash back on your recurring payments and on drug store purchases. All other purchases earn a 1% cash rebate. 

The Big Cajun Man aka Alan Whitton writes on the Canadian Personal Finance blog about his daughter’s experience trying to find a student line of credit to attend Chiropractic College. The only financial institution willing to fork over enough money was the National Bank of Canada. However, by mistake they set up the loan as a personal line of credit. As a result, the very next month there was a demand for payment. Although the error was fixed, Whitton had to co-sign on the loan.

Five unconventional ways to get your financial act together from Kerry K. Taylor aka Squawkfox resonates with me. She suggests we can save money by throwing out fewer grocery products and curbing our collecting. We just renovated our kitchen cabinets and I couldn’t believe the number of stale-dated packages we pitched and how many marginally useful kitchen gadgets we have collected. Did we ever really need  six sets of barbecue skewers?

Why “Healthspan” trumps “Lifespan” by Dan Richards is a guest blog on the Financial Independence Hub. Financial advisors spend a great deal of their time with clients who ask, “Will I run out of money?” But Richards says according to new research, an equally pressing question is “How can I enjoy life in my 60s before health issues creep in.?

RRIFs 101: Using your nest egg by Preet Banerjee on Tangerine’s Forward Thinking blog fills in the blanks for readers who understand how RRSPs work but were not aware that they must be converted into RRIFs at age 71 and that beginning the year after, minimum fully taxable amounts must be withdrawn.

Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere?” Share the information with us on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.

 

Canada needs more CPP says lawyer Ari Kaplan

2 Apr

By Sheryl Smolkin

Click here to listen

Click here to listen

As part of the ongoing series of podcast interviews on savewithspp.com, today I’m talking to lawyer Ari Kaplan, a partner in the Pension and Benefits Group of the Toronto law firm Koskie, Minsky, L.L.P.

Ari is the author of Canada’s leading textbook on pension law, and he has acted as counsel in some of Canada’s most widely known pension cases before the Supreme Court of Canada. In addition, he teaches pension law as an adjunct professor of law at both the University of Toronto and Osgoode Hall Law School.

In his spare time, Ari heads up licensing and publishing at Paper Bag Records, a leading, independent record label and artist management company also based in Toronto.

Today, we are going to talk about the Canada Pension Plan. In the ongoing national debate regarding how Canadians can be encouraged to save more for retirement, Ari is a staunch advocate for an expansion to the Canadian Pension Plan.

Welcome, Ari, and thanks for talking to me today.

My pleasure, Sheryl. Thanks for having me.

Q: How many Canadians currently have workplace pension plans?
A: Well, that’s a good question to put everything in perspective. Over 60% of working Canadians actually have no workplace pension plan, and they must rely solely on CPP and their own personal savings for their retirement income. 

Q: Why do you think that an enhanced Canada Pension Plan is the best way to give Canadians a more robust retirement income?
A: Very simple. It’s currently the only universal and mandatory savings scheme in the country. It’s portable from job to job. If you’re a student, you can work for the summer in British Columbia and then come back to a full-time job in Ontario, and your CPP credits will go with you. Also, it doesn’t just cover employees. It applies to self-employment, which most workplace pension plans don’t.

Q: As early as 2008, industry guru Keith Ambachtsheer wrote a C.D. Howe Institute commentary about the benefits of enhancing the Canada Pension Plan. Yet, in December 2013, the conservative government in several Canadian provinces voted against this proposal. Why do you think this occurred?
A: Every respected economist in the country supports a CPP expansion. The reason why the current government did not support it is political, not principled.

There was political pressure from business lobby groups who did not want to be forced to contribute employer revenue toward their employees’ retirement. There was political pressure from the financial services lobby, because they do not benefit at all when the retirement savings of Canadians is held in the CPP Trust Fund.

And finally, there’s fear among Canadian voters, who’ve been led to believe that anything opposed by business must be bad for them, too. Some of them also don’t want to be forced to save for retirement.

Q: Instead of expanding the CPP, the late finance minister, Jim Flaherty and the provinces endorsed pooled registered pension plan legislation as the way to encourage Canadians to save more for retirement. What are the key features of PRPPs?
A: Good question. PRPPs are basically like voluntary employer-sponsored group RRSPs. The funds are locked in, so it resembles a registered defined contribution plan. Your funds can also be ported to another plan and there are survivor benefits. So, it’s basically like an “RRSP-plus.”

Q: Why do you think that PRPP’s are not the answer?
A: Well, I think PRPPs are just a prime example of what I said earlier ­­­– political lobbying by business and the financial industry.

  1. The employer is not required to contribute a dime even if the company voluntarily sponsors a PRPP.
  2. An employee can opt out, or voluntarily set their contribution rate to zero, which gives zero benefit to the employee.
  3. There’s very little benefit security. Like I said, it’s like a DC plan, so you get to choose member-directed investment funds. If you don’t invest your money well, then you won’t get a good pension.
  4. The cost structure is really not that much different than a 500-member group RRSP. The management expense ratio (MER) will be much higher under a PRPP than under a large workplace pension plan or, for that matter, under CPP, where the efficiencies of scale are such that the costs are very, very, very low.
  5. It will create a huge windfall to insurance companies and other financial institutions who manage these funds, because there’s very few cost controls. There are lots of problems in group RRSPs with so-called “hidden fees” and there’s no indication that that will change with PRPPs.

I can go on, but I think you get the idea.

Q: Groups such as the Canadian Federation of Independent Business say that required employer contributions to an expanded CPP would amount to a significant payroll tax that could slow down economic growth. How would you respond to this statement?
A: To be quite blunt, this is a false and misleading statement. Anyone who tells you it’s a tax is not telling you the truth. This is employee money. It goes into a pension fund. It then goes back to the employee.

Q: Ontario Premier, Kathleen Wynne’s government is currently holding consultations on the design of an Ontario Retirement Pension Plan. What are some of the key features of that plan?
A: At the end of December of last year, the Ontario government introduced the first reading of the bill for the Ontario Retirement Pension Plan intended to commence at the beginning of 2017. The reason for the delay period is because there’s hope that the next federal government may agree enhance CPP, which could make the ORPP redundant.

But the key features are that it’s a mandatory plan. It’s like an adjunct to CPP. So, it would be mandatory in all Ontario workplaces, except where the employer already has a workplace pension plan for its workforce, and it would be integrated with the CPP.

Q: Several other provinces, like PEI, may jump on the same bandwagon, so why do we still need a national CPP enhancement?
A: Well, it would better if the federal government came on board to make it nationwide. I mean if we just have it province by province, then it’ll be more of a patchwork. This could influence inter-provincial mobility. We don’t want to discourage full inter-provincial mobility by Canadians.

Q: Well – and, of course, the other issue is – just like pension legislation across the country, which is similar, but actually very different when it comes to the details – we run the risk of getting ten or 11 completely different plans.
A: And that would result in over-regulation and an increase in transaction costs although the whole point of this is to minimize and optimize the costs of running the fund — which is why CPP is good model.

CPP is viewed as one of the best universal, mandatory state-sponsored pension plans in the world. It would be a shame for us to have to rely on province-by-province, patchwork participation in such a scheme.

Also, you know, at the end of the day, this is really something that benefits all Canadians, regardless of what age or generation they are in. One way or the other, taxpayers will be taking care of older Canadians who are poor. It’s better that Canadians have their own resources to take care of themselves; and that’s an optimal use of taxpayer resources.

So, I just really think it’s a good idea, and I really think that this is the ballot question for the upcoming federal election this year. We saw this 50 years ago when CPP was introduced. I believe this year there will be a renaissance of that issue.

Q: Thanks, Ari. It was great to talk to you.
A: My pleasure, Sheryl. Be well.

—–
This is an edited version of the podcast posted above which was recorded on February 3, 2014.

Mar 30: Best from the blogosphere

30 Mar

By Sheryl Smolkin

Lots of good reading this week from the blogosphere.

If you are not sure what kind of pension plan you have or how it works, take a look at how employee pension plans work by Kevin Press on Brighter Life.

Retire Happy guest blogger and pension analyst Sean Cooper writes about three costly pension mistakes and how to avoid them. For example, if possible wait until you vest in your pension benefits (two years in Saskatchewan) before leaving or taking early retirement.

Michael James on Money helps you to calculate the interest rate your annuity is actually paying. He likes the idea of reducing longevity risk by purchasing an annuity but he says that according to his calculations the payouts on annuities seem much too low.

You have the ring and you are planning the wedding but do you have a joint financial plan? Diane O’Leary, guest blogger on the Financial Independence Hub discusses financial planning for young couples serious about their future together.

And finally, on Million Dollar Journey, Frugal Trader shares how his family of four lives on one government salary. It certainly helps that they have paid off all of their student loans and they have been mortgage-free since 2010. He also thinks twice before making impulse buys at Costco.

Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere?” Share the information with us on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.

 

LTD for seniors hard to find

26 Mar

By Sheryl Smolkin

The abolition of mandatory retirement across the country has removed a major obstacle for people who want to work beyond age 65. But options for older workers who need to be insured for long term disability (LTD) late in their career are very limited.

The reality is that if you stick with the same employer, your group LTD coverage will typically terminate at age 65. So I asked Lorne Marr, Director of Business Development at LSM Insurance* what’s available in individual LTD policies.

He told me that only one company (The Edge) he is aware of offers coverage to age 70 but the policy is less comprehensive than a more typical LTD policy from RBC ending at age 65.

Table 1: RBC LTD Quotes
Mid-level male manager
Non smoker

AGE ELIMINATION PERIOD BENEFIT PERIOD To Age 65 MONTHLY PREMIUM
30 30 days X $224.80
90 days X $128.68
45 30 days X $573.61
90 days X $261.14
60 30 days X $808.98
90 days X $519.62

Source: LSM Insurance

First of all, the RBC policy provides that insured clients are covered if they are unable to work at their own occupation until age 65. In contrast, The Edge only pays benefits for three years if a disabled individual cannot be employed in his/her own occupation and then he/she is expected to work in “any reasonable” occupation.

The premiums on the RBC LTD policy are also guaranteed for the life of the policy. The younger the insured is when the policy is taken out, the lower the monthly payments. The Edge plan is guaranteed renewable, but the premiums can be increased for the whole class.

Finally, The RBC LTD policy has residual disability provision allowing disabled plan members to work in a limited capacity both during the elimination period and once they are receiving disability benefit payments. The Edge does not have comparable flexibility.

It is also interesting to note that policies from The Edge with an age 70 benefit period split out coverage for injury and illness and only 30 day and 120 elimination periods are available. Therefore, to get similar coverage to the RBC policy (subject to the differences discussed above), an individual would have to buy both.

Table 2: The Edge LTD Quotes*
Mid-level male manager
Non smoker

AGE INJURY ILLNESS ELIMINATION PERIOD BENEFIT PERIOD To Age 65 MONTHLY PREMIUM
30 X 30 days X $67.50
X 30 days X $129.25
X 120 days X $47.50
X 120 days X $82.15
45 X 30 days X $67.50
X 30 days X $208.55
X 120 days X $47.50
X 120 days X $132.15
60 X 30 days X $67.50
X 30 days X $396.05
X 120 days X $47.50
X 120 days X $251.15

Source: LSM Insurance 

Table 2 illustrates that injury only coverage is relatively inexpensive. Furthermore, it is not displayed in the table, but The Edge’s guaranteed issue, injury only coverage is available to age 75.

In addition, Hunter McCorquodale offers unique solutions and high issue limits for executives and other highly-paid people still working beyond age 65 for as long as they are working. They will quote on full accident and illness coverage underwritten by Lloyd’s of London.

If you are applying for LTD at a young age, it may be difficult to predict if you will want or need to work beyond age 65. And with the limited, less than optimum types of polices with a benefit period to age 70 or beyond, you may eliminate such extended coverage from consideration almost immediately.

But Marr sees extending LTD benefit periods to age 70 as a good niche market opportunity for other carriers. “Because none of us can predict how long we might want to work, and coverage can be cancelled at any time, I’m hoping more companies will revisit their benefit periods and at least give clients the option to select coverage until age 70,” he says.

*LSM Insurance Brokers is located in Markham, Ontario. They have a working relationship with Delorie Jacobs and Gord Martens affiliates with the Sentinel Financial Group headquartered in Saskatoon.

Mar 23: Best from the blogosphere

23 Mar

 

By Sheryl Smolkin

Spring is definitely in the air and every day the piles of snow and patches of ice in my neighbourhood get smaller. This week we report on a potpourri of interesting blogs and articles from some of our favourite bloggers.

We usually catch Robb Engen on Boomer and Echo, but he also regularly writes for his blog  RewardsCanada. This week he posted an interesting article about why it is so hard to cancel a credit card. Credit card companies advertise great bonuses on points when you sign up with them but they are counting on inertia to retain you as a client once the deal is in the bag. If you are smart enough to want out, they make you jump through hoops before you can cancel.

On StupidCents, Tom Drake’s mission is to help you “turn wasted sense into common cents.” Recently guest blogger Michelle offered some ideas on how to save money on your wedding. She suggests you can barter many services in exchange for free wedding products. It can also help to chose something other than a diamond and buy a pre-owned wedding dress. In a previous blog she suggested that you get married off season and not on a weekend.

If you think you have to keep your income low in your 64th year because the OAS clawback is based on your income in the previous year, take a look at Understanding the OAS Clawback by Doug Runchey on RetireHappy. He says there is a provision in the Income Tax Act that allows the clawback to be based on your income for the current calendar year, if your income in the current calendar year will be substantially lower than it was in the previous calendar year.

In Thanks for the $2000 CRA on the Canadian Personal Finance blog, Alan Whitton aka the Big Cajun Man concludes that he and his wife are not eligible for income-splitting because his wife earns too much, but in any event he says this would not be enough to buy his vote because “As usual, the program is half-baked (much like the TFSA and other ideas), and I am not a one issue voter.

And finally, on get smarter about money, Globe and Mail columnist Rob Carrick writes about the gift of a debt-free education he and his wife are giving their two sons. There is no family fortune so they will not be living on Easy Street, but they will be able to graduate debt free from a four-year undergraduate program of their choice. He says if you can’t help your kids graduate debt-free, the next best thing is to help limit their debt. In today’s challenging world for young adults, that’s a great early inheritance.

Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere?” Share the information with us on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.

How hiring a professional organizer can save you money

19 Mar

By Sheryl Smolkin

If you have been meaning to clean out the garage, tackle the mess in your home office or ream out the cupboards under the kitchen sink for years but haven’t gotten around to it, maybe it’s time to hire a professional organizer.

While many organizers charge an hourly fee, others work on a project or package basis. Fees typically depend on the organizer’s area of expertise, geographical location, how far he/she has to travel and what competitors are charging. As a result, professional organizing fees can range anywhere from $50 to $175 per hour plus GST and provincial sales tax.

That may seem steep until you think about how paying someone to get you organized can actually save you money. For example:

  1. If your desk is so cluttered that credit card bills and utility bills are buried, you may be paying hundreds of dollars or more in fines or late payments on overdue payments.
  2. Lost receipts and warranties could mean that when your appliances or latest tech toys break down you may have to bite the bullet and get new ones instead of getting free repairs or replacements.
  3. Avoid having to make last minute visits to the store to buy ingredients for your favourite recipe, only to find that you have several open and unopened packages in the back of your pantry.
  4. Because archived unopened packages and cans of food quickly become stale-dated you may find yourself regularly pitching pricey unused ingredients after their “best before” dates.
  5. Time is money. How much time do you waste every week looking for the sweater that goes with your outfit, only to give up and wear something else because you have no idea where you saw it last?
  6. If you have several children close in age, clothing in good condition can be handed down to the next child. That’s if you can find what you need when you need it. Unless items are washed, sorted by size and carefully packed away, you will end up buying the same thing all over again for the next baby.
  7. Finding a newer, bigger place to live is expensive and disruptive. If you can only get the basement cleaned up and organized you may find you actually have lots of space for a home office or a playroom for your children.

Until recently in both our current home and the previous one, organizing my husband’s workroom seemed like an insurmountable challenge. There were large pieces of equipment he never used and it seemed impossible to safely and neatly store his amazing collection of tools acquired over many years.

Because it was so cluttered he found it very difficult to do any creative wood working and I got irritated every time I went downstairs to do the laundry. We finally hired a professional organizer last spring because my son was moving back home temporarily and we had to free up as much space as possible for his stuff.

In about 12 hours on three separate days he worked with my husband to organize both the work room and the garage. As a result, my son did not have to pay to store his boxes because we found room for them. The organizer carted off several pieces of useful equipment and found them a new home. Also, he put a kiln and a wheel from Joel’s pottery-making days on Kijiji and managed the replies.

There have been several cases where Joel couldn’t find things after the organizer left because they were carefully put away in a place that intuitively made no sense to him. But overall, we are delighted with the result and there is one less thing for me to grumble about.

You can find a professional organizer using the search tool on the Professional Organizers in Canada website. If you have the inclination to organize other people’s messes for a living, you can also find information about training and accreditation as a professional organizer.

Mar 16: Best from the blogosphere

16 Mar

 

By Sheryl Smolkin

After two weeks away in the sun at a resort with flakey WIFI, I have lots of catching up to do! However, I managed to download the replica edition of several newspapers every day, so I wasn’t completely out of touch.

I was particularly interested in a series of editorials in the Globe and Mail articulating the newspaper’s vision as to how the retirement savings system should be reformed. The editorial team views higher TFSA contributions as an unwarranted future drain on the economy and advocates increasing RRSP contribution limits instead.

They also support ramping up CPP and eliminating RRIF withdrawal rules. You can read the whole series by clicking on the links below.

Reforming Retirement (1): How the TFSA turned into Godzilla
Reforming Retirement (2): Getting Ottawa’s mitts off your RRIF
Reforming Retirement (3): More RRSP, not more TFSA, please
Reforming Retirement (4): Canada needs to ramp up CPP, ASAP

Cait Flanders who writes Blonde on a Budget is in the 8th month of a year-long shopping ban. She says she has never been happier and shares 3 truths she discovered about her minimalist lifestyle plus information about her next minimalist challenge for 2015.

On Money We Have, Barry Choi writes about 10 Signs You’re Living Beyond Your Means. Several of my favourites are: when you have zero savings; low monthly payments are your only option; and, you buy only name brands.

Banking on Your Mobile Phone by Tom Drake on Balance Junkie reminds us that there are smart phone apps for business finance, budgeting, bank accounts and mobile payments. Paypal and Google Wallet are probably the most popular mobile payment apps. Most banks also allow to you pay by mobile with their own apps as well.

And finally, on Canadian Dream: Free at 45 Tim Stobbs writes about how a job in customer service that he was overqualified for in 2002 was a valuable experience because he had great co-workers, the company promoted from within and it had a defined benefit pension plan.

Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere?” Share the information with us on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.

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