From the monthly archives:

February 2010

Go Fraud Free ~ Win a Wii

by Natalie MacLellan on February 26, 2010

in Contests, Fraud Prevention

Welcome to the latest contest from Before You Invest and the Nova Scotia Securities Commission!

From March 1 to March 31 we’re giving away 4 copies of Quicken Cash Manager software, and one Grand Prize of a Nintendo Wii!

How do I enter?

1.    Of course, you’ll need a Twitter account. (*To answer triva. To enter without a Twitter account, see #6.)

2.    Follow www.twitter.com/B4UInvest. We’ll need to be able to direct message for your details if you win so we can send your prize.

3.    Every weekday, we’ll post a trivia question. The answer to all questions can be found on our website: www.beforeyouinvest.ca, or on links we will provide.

4.    Tweet your answer (within 140 characters of course) using the hashtag #fraudfree. You must use the hashtag to enter the contest. (That’s how we’ll find you.)

5.    Only one correct entry per Twitter account, per day, will be eligible for the draw.

6.    You may also enter by visiting www.beforeyouinvest.ca and providing relevant commentary on articles and blog posts. (Comments subject to moderation, at discretion of the staff of the Nova Scotia Securities Commission.) One entry per blog post, per day will be eligible for the draw.

7.    The contest will run weekdays, from March 1 to March 31, 2010. One copy of Quicken Cash Management software will be awarded per week in each of the first 4 weeks. All eligible correct answers received will be entered into a random draw. The draw will take place the following Monday, at the office of the Nova Scotia Securities Commission.

8.    The winners will be announced through Twitter and on www.beforeyouinvest.ca.

9.    All eligible entries received between March 1 and March 31 will be entered into the Grand Prize draw for a Nintendo Wii. Draw date will be on April 1, 2010. The winner will be announced on Twitter and on www.beforeyouinvest.ca.

Please read the official Rules and Regulations.

Tagged as: contest, education, fraud, rules, twitter

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Don’t let the RRSP deadline scare you

by Natalie MacLellan on February 24, 2010

in financial goals

It’s the end of February: have you contributed to your RRSP yet? The March 1 RRSP contribution deadline is looming, and if you haven’t contributed yet, you may be beginning to panic. How much do I contribute? And what to invest it in?

Before making a rash decision, remember that most important thing is that you get your money into an RRSP account. There is no rule that says you have to invest it upon deposit. Don’t force yourself into a quick decision, and buy something you aren’t comfortable with or don’t understand.

Check your notice of assessment from last year’s tax records, to be sure you know how much room you have to contribute. The last thing you need is to over contribute and start dealing with penalties. If you have time, talk to an accountant or financial adviser about how much you should contribute. If your optimal contribution isn’t possible, contribute as much as you can afford, without straining your day to day budget.

If you already have an RRSP account open from a previous year, you might be able to quickly and easily deposit cash right into your RRSP account via online banking, saving you the time and hassle required to set up an appointment.

Once the cash has been deposited, contact your adviser and schedule a meeting in the coming weeks, to decide when and how to invest. Working at a relaxed pace allows you to consider all options and make a choice that suits your needs and your risk tolerance.

Also, another point to remember: if you are strapped for cash this year, but still want to contribute to an RRSP, you can transfer other investments into an RRSP account – provided they are eligible.

Tagged as: advisers, retirement planning, rrsp, savings

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Win a notebook computer or $2,000 cash in the Financial Fitness Challenge!

February 17, 2010

Young Nova Scotians are invited to take the Financial Fitness Challenge, a contest designed to raise awareness about budgeting, saving and investing.
The Challenge, which runs Feb. 15 to April 15, uses a new, interactive website to quiz youth on their financial knowledge. The contest is sponsored by the Canadian Securities Administrators, of which the Nova [...]

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