Jan 5, 2009

The Daily Poverty Post.

Well hello Daily Poverty Post, funny seeing you here! And by the way, love the name Daily Poverty Post; very catchy, especially the Daily part — who gave you such an unrealistic name?

It’s been quite a few days since Bossy has had anything to say about her debt, so this morning she thought she’d climb online to see what kind of advice financial experts are giving as we swerve into a new year.

Jamie Golombek’s article from the Financial Post was the first thing to catch Bossy’s eye, because it should come as no surprise that a Bossy in debt is also the same Bossy who has not been taking advantage of tax code.

The following ten tips are lifted straight from Jamie Golombek.

1. Open a tax-free savings account (TFSA), a concept which was launched the first of this year. But wait, does this mean Bossy’s other withdrawals are taxed? Confusion.
2. Maximize RRSP contributions. Hey Jamie Golombek — what are RRSP contributions?
3. Set up a spousal RRSP. Hey Jamie Golombek — what’s a spousal RRSP?

We Interrupt This Bossy In Progress For An Emily Litella Moment: upon further inspection, Bossy is quoting Jamie Golombek, who is quoting Canadian tax code.

So for Bossy’s Canadian readers, have at the TFSA and the RRSP! For the rest of you, Bossy suggests a bed and covers pulled over head. That’s where you’ll find Bossy.

Dear Canadians, this is the whole article.

permanent link to post

17 comments

1. 1
   on January 5th, 2009 at 10:29 am
   Gigi said:

   Never mind.


2. 2
   on January 5th, 2009 at 11:04 am
   Emily said:

   I think a RRSP is like a Roth IRA.


3. 3
   on January 5th, 2009 at 11:07 am
   donna in mid michigan said:

   HA HA. Isn’t that how a lot of things are ..when we start trying to deal with the unknown..we simply don’t know what we don’t know..like recognizing Canadian Tax stuff. LOL. thanks for the giggle BOSSY.


4. 4
   on January 5th, 2009 at 11:31 am
   corrie said:

   And he looked so credible too!


5. 5
   on January 5th, 2009 at 11:59 am
   Victoria said:

   Um, yay, thanks!

   Throws an “eh” and an extra “u” in there for good measure


6. 6
   on January 5th, 2009 at 1:37 pm
   Lizzy said:

   Crap. I already had all my RRSPs in order. Do over.


7. 7
   on January 5th, 2009 at 3:05 pm
   Little Miss Sunshine State said:

   What’s all this fuss I hear about Romanian Fax Mode?
   Why do Romanians have a special Fax Mode?
   It’s what?? Canadian TAX CODE?

   Oh. Never Mind.


8. 8
   on January 5th, 2009 at 3:11 pm
   the cheap chick said:

   Taxes make me cry. Canadian taxes make me want to cry, and then play hockey.


9. 9
   on January 5th, 2009 at 4:23 pm
   Miss Britt said:

   Damn – and I was SERIOUSLY getting ready to google “Tax Free Savings Accounts” too.


10. 10
    on January 5th, 2009 at 4:39 pm
    Patricia said:

    Eh? you americans don’t have that stuff? We pay higher taxes but we do get some hedging in…and free health care…


11. 11
    on January 5th, 2009 at 4:53 pm
    Amy said:

    I have my very own poverty post today – although it is not NEARLY as informative as this one. Nor does it feature any men in suits.

    I wish I was Canadian sometimes. And then I remember how much I hate the little bit of snow that we get in Portland. And then I think I wish I was Mexican.


12. 12
    on January 5th, 2009 at 6:22 pm
    The Mister said:

    Of death and taxes I only fear the latter.


13. 13
    on January 5th, 2009 at 9:42 pm
    Cactus Petunia said:

    I’m already there, Miss Bossy…what they don’t tell you when you’re a little kid afraid of the monster under your bed is…it’s an IRS agent!


14. 14
    on January 5th, 2009 at 10:30 pm
    Erin said:

    I’m pretty sure that confusing acronyms are why Canadians haven’t managed to take over the world. If it weren’t for the acronyms, all nations would be seduced by their nice manners and universal health care.


15. 15
    on January 6th, 2009 at 2:52 am
    Say What? said:

    Darn those Canadians! They get everything. Higher alcohol in their beer, 2 OFFICIAL languages and they got rid of William Shatner by sending him here. What’s not to love about Canada??


16. 16
    on January 6th, 2009 at 11:58 am
    steph said:

    Is it just me or does he look a little like Stephen Colbert?


17. 17
    on March 10th, 2009 at 3:14 pm
    MH in SF said:

    LOL! Bossy you crack me up
    RRSP = Registered Retirement Savings Plan…so although some of the rules don’t apply down here, the advice could still be useful…eh