Province(s) start lifting Covid 19 restrictions | Page 4 | GTAMotorcycle.com

Province(s) start lifting Covid 19 restrictions

Georg3__ said:
Great but eating out is super expensive, gas prices are at all time highs and everything is so pricey

Back I go into my shelter

>.<
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Vday dinner on Sunday, steak tomorrow and ramen on Friday. Bank account go bye bye this week. 😫
 
Wife and I decided to skip V-day gifts, and just put money away toward the vacation next year. That's $200 deposit right there.

I've already got 5k saved up for a car emergency fund, but she doesn't need to know that part. I effectively make monthly 'payments' as if I was financing the car so that when the time comes, I have a car to trade in + whatever cash goes into that account. But I'm not religious that it has to be for the car, it's more of a catch all fund (in case I can't pay it from the main accounts).
 
mimico_polak said:
But I'm not religious that it has to be for the car, it's more of a catch all fund (in case I can't pay it from the main accounts).
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If you have to explain it’s not for the car..then it’s 200% for the car!
 
mimico_polak said:
Wife and I decided to skip V-day gifts, and just put money away toward the vacation next year. That's $200 deposit right there.

I've already got 5k saved up for a car emergency fund, but she doesn't need to know that part. I effectively make monthly 'payments' as if I was financing the car so that when the time comes, I have a car to trade in + whatever cash goes into that account. But I'm not religious that it has to be for the car, it's more of a catch all fund (in case I can't pay it from the main accounts).
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I find it easier to have a few more vehicles than drivers then if one is broken it's no a big deal.

Sent using a thumb maybe 2
 
Scuba Steve said:
I find it easier to have a few more vehicles than drivers then if one is broken it's no a big deal.

Sent using a thumb maybe 2
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You also have a massive amount of space! And it's MUCH cheaper to put money away than keep a spare car around lol.

We switch cars all the time. She never liked the Volt...until she saw how much cheaper it is to operate. So she takes my car the majority of the time as it's just sitting here. I guess that's another plus over the WRX.

Plus in the summer / warmer months I've got the motorcycle.
 
mimico_polak said:
Wife and I decided to skip V-day gifts, and just put money away toward the vacation next year. That's $200 deposit right there.

I've already got 5k saved up for a car emergency fund, but she doesn't need to know that part. I effectively make monthly 'payments' as if I was financing the car so that when the time comes, I have a car to trade in + whatever cash goes into that account. But I'm not religious that it has to be for the car, it's more of a catch all fund (in case I can't pay it from the main accounts).
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Tangerine sucks now that they have reduced interest rate to 0.2% but they are very convenient to spin up lots of specific accounts with no paperwork. I've got the kids bank accounts there and if someone gives me money for their education, it goes into a different account. Sure, I could co-mingle everything and keep track of it in Quicken but it's nice to easily see how much is there. On the flip side, kids have four figures in their accounts now and won't be touching it for a decade. At 0.2% that sucks. May do the paperwork to spin up some investment accounts in trust and let the money grow.
 
GreyGhost said:
Tangerine sucks now that they have reduced interest rate to 0.2% but they are very convenient to spin up lots of specific accounts with no paperwork. I've got the kids bank accounts there and if someone gives me money for their education, it goes into a different account. Sure, I could co-mingle everything and keep track of it in Quicken but it's nice to easily see how much is there. On the flip side, kids have four figures in their accounts now and won't be touching it for a decade. At 0.2% that sucks. May do the paperwork to spin up some investment accounts in trust and let the money grow.
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I wish Tangerine had an RESP option as their system is super easy. Maybe not the best growth, but super easy and safer than a lot that's out there.
 
mimico_polak said:
I wish Tangerine had an RESP option as their system is super easy. Maybe not the best growth, but super easy and safer than a lot that's out there.
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Don't do it. Their returns are horrendous. Since Scotia took over they appear to have orphaned them. Basically they are happy if you keep your money there as they won't pay out anymore but they sure as hell are doing nothing to make you want to stay. Just momentum and laziness.
 
GreyGhost said:
Don't do it. Their returns are horrendous. Since Scotia took over they appear to have orphaned them. Basically they are happy if you keep your money there as they won't pay out anymore but they sure as hell are doing nothing to make you want to stay. Just momentum and laziness.
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Agreed %100, used to do quite well with monthly interest in Tangerine but has nosedived in the last two years, in the process of taking a house downpayment sized amount out of there.
 
GreyGhost said:
Don't do it. Their returns are horrendous. Since Scotia took over they appear to have orphaned them. Basically they are happy if you keep your money there as they won't pay out anymore but they sure as hell are doing nothing to make you want to stay. Just momentum and laziness.
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Yup agree, it was almost overnight the rates tanked. I moved my money over to EQ bank, which has been better.
 
GreyGhost said:
Tangerine sucks now that they have reduced interest rate to 0.2% but they are very convenient to spin up lots of specific accounts with no paperwork. I've got the kids bank accounts there and if someone gives me money for their education, it goes into a different account. Sure, I could co-mingle everything and keep track of it in Quicken but it's nice to easily see how much is there. On the flip side, kids have four figures in their accounts now and won't be touching it for a decade. At 0.2% that sucks. May do the paperwork to spin up some investment accounts in trust and let the money grow.
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I go back and forth between EQ and Tangerine for my emergency fund. Money usually stays in EQ (Currently 1.25%) but I shift money over to Tangerine when they put offers out for a higher rate on new deposits. The majority is now at Tangerine earning 2% until the end of April I believe, once that's done back to EQ it goes.

I will occasional buy short term GIC's at EQ as well. Right now on 3 and 6 month terms the rate is 2.05% and 2.10% on a 1 year.
 
blackcamaro said:
I go back and forth between EQ and Tangerine for my emergency fund. Money usually stays in EQ (Currently 1.25%) but I shift money over to Tangerine when they put offers out for a higher rate on new deposits. The majority is now at Tangerine earning 2% until the end of April I believe, once that's done back to EQ it goes.

I will occasional buy short term GIC's at EQ as well. Right now on 3 and 6 month terms the rate is 2.05% and 2.10% on a 1 year.
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I changed my backup emergency fund strategy. I try to keep the operating accounts with enough for ~two months. I had a chunk in Tangerine that could be transferred in if required. That chunk is now in the markets and Heloc will be backup emergency fund. Lost opportunity cost was becoming ridiculous.
 
GreyGhost said:
I changed my backup emergency fund strategy. I try to keep the operating accounts with enough for ~two months. I had a chunk in Tangerine that could be transferred in if required. That chunk is now in the markets and Heloc will be backup emergency fund. Lost opportunity cost was becoming ridiculous.
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Interesting. I do agree on the lost opportunity costs. It's a decision I struggle with sometimes.

I keep enough to maintain my lifestyle for 4 months but if things got ugly I could stretch it to cover 6 months of living expenses if needed. I did consider doing the same as you and using my HELOC as backup but since using my line to invest I want to keep it for that and only that.
 
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