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The Globe and Mail's Smart Money section is dedicated to giving you what you need to manage your personal finances successfully. Smart Money appears every Saturday in The Globe and Mail and on globeinvestor.com.
Frugal pair are advised to concentrate on near-term plans, rather than on a distant financial target, to ensure their success
A Toronto pair we'll call Jack and Lucy face a problem many young couples encounter -- how to balance their present needs with what they'll require in the future. Jack, 25, has a software engineering job. He grosses $80,000 a year. Lucy, 23, a health care professional, makes $70,000 before taxes. After taxes, Jack and Lucy have $86,000 a year to spend.
A weekly scorecard of some of the lowest and highest rates and yields across Canada.
MORTGAGESThe lowest rates posted for one, three and five year closed mortgages.1-YEAR CLOSED PACE Savings and Credit Union3.5Ontario Civil Service CU3.55Metro Credit Union 3.69Ukraine Credit Union 3.69ING Direct 3.80Average rate4.653-YEAR CLOSED GMAC Residential Funding4.65ResMor Trust4.69ING Direct4.7Manulife Bank 4.7Steinbach Credit Union 4.70Average rate5.51
These cars cost more than double the price of a home, but there's still a waiting list to get your hands on one, RICHARD BLOOM writes
A London-based automotive executive was quoted recently as saying that ''luxury is in the brand, not the price'' and that owning a luxury car is ''a matter of perception and of feeling, not of how much it costs.''
Q. We would like to purchase a condo in Florida to spend our winters down south. In the summer months, we would like to rent out this condo. How will income from this condo be treated from a Canadian and U.S. tax perspective?
A selection of this week's winners and losers
STARSApple (Star)$45.50, up $6.44AAPL - NasdaqApple shipped more than two million iPod portable digital music players during the fourth quarter -- up 500 per cent from a year ago. Yanni never sounded this sweet.
