Deal of the Week – $150 Gift Card Offer
We all love credit card freebies right? Our partners at Credit Card Genius are offering to pay you (up to $150) to sign up for the popular Scotiabank Gold American Express. Some highlights of this card:
15 reasons why we love this card
- Earn 4x the Scotia Rewards on gas, grocery, entertainment, and dining1.
- 15,000 bonus points, worth $150 in travel, when you spend $1,000 in the first 3 months2.
- Enjoy the most bonus spending categories of any Canadian credit card3.
- Experience fully flexible Scotia Rewards that are easy to understand and redeem4.
- Redeem your Scotia Rewards for ANY travel purchase from ANY travel provider, no travel restrictions4,5.
- Travel without worry thanks to 7 types of travel insurance coverage included6.
- Benefit from rare trip cancellation and trip interruption coverage with high $2,500 caps6.
- Travel longer with extended emergency medical coverage on trips up to 25 days6.
- Even seniors over 65 qualify for emergency medical coverage on trips up to 10 days6.
- Save money with built in price protection – spot a lower price within 60 days and get a refund for the difference6.
- Your purchases are protected automatically against loss, theft, and damage for 90 days6.
- Your purchases get an extended warranty that doubles the manufacturer’s warranty up to 1 extra year6.
- Get the higher rewards potential of an Amex combined with in-person access to Scotiabank branches3.
- Take advantage of the Scotia Rewards Travel Service, a full service travel agency offered through the card, if you need help booking your travel5.
- Low $99 annual fee, 19.99% on purchases and 22.99% on cash advances. Most premium travel cards have annual fees of between $120 and $1507.
Adding it all up, although the card has a $99 annual fee, you get a $150 travel bonus, plus up to $150 in Amazon.ca e-gift card from Credit Card Genius ($100 if you apply, and another $50 for a Facebook share)!
How do you get this deal? Here are all the details on Credit Card Genius.
TFSA Contribution Limit Increase
Big news in the finance world! In 2019, the TFSA will have a higher contribution limit of $6,000 (from $5,500). I like this nice round number because now you can budget $500/month and max out your TFSA. Curious about contribution limits in previous years? Me too!
- 2009-2012: $5,000;
- 2013-2014: $5,500;
- 2015: $10,000;
- 2016: $5,500;
- 2017: $5,500; and,
- 2018: $5,500.
Monday Money Links
After I published the article on the new rules of personal finance, I got some chuckles and feedback on my mortgage rule. My rule is that your mortgage shouldn’t be any greater than 2x family income. If houses are expensive, essentially, you’ll need a larger down payment. However, in some housing markets (like Vancouver), it’s pretty far out of reach, so renting is likely a better option. Rob, from Boomer and Echo, gets into the mathematical details of renting vs buying a home.
I’ve talked a lot about index investing and how asset allocation works. Do you actively change your asset allocation as you age? Mark from My Own Advisor writes about changing your ETF strategy as you get older.
Do you worry about how much money you should have for your age? I know that I did in the past, but I don’t think about it as much anymore. Maybe it’s a function of getting older! If you are curious, Gen Y Money writes about how much money you should have by the time you are 35!
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