RRSP season is here. The deadline for contributing to your 2008 RRSP is March 2, 2009. The government of Canada has also introduced Tax Free Savings Account this year. In a TFSA you can invest up to $5000 and any capital gains from your investment is not taxed.

Your best option is to always contribute the maximum allowable RRSP limit. Ensure that you also contribute the maximum $2000 lifetime over contribution limit. Then contribute your $5000 maximum to your TFSA.

If you expect your tax rate after retirement to be the same as it is now, TFSAs and RRSPs will produce the same net result.

If you expect your tax rate after retirement to be less than it is now, top up your RRSP before opening a TFSA.

If you expect your tax rate after retirement to be higher than it is now, saving in a TFSA will produce a better return than making an RRSP contribution. That is your investments will yield more income that your current earnings, saving in a TFSA will produce a better return than making an RRSP contribution.

If you do a lot of shopping online you should consider becoming a member of Ebates.com. Over 1000 online stores pay Ebates a commission for a listing. Ebates splits that commission with you. Think of it is a cash back rewards. Check out the enterprise coupon which gives you 2% cash back on a car rental.




Your microwave uses more power waiting on standby mode than is does heating your food. The average household uses the microwave for 10 minutes a day, the rest of the day the microwave is powering the little clock, and other internal electronic components while waiting to be used.

ON: 10 minutes x 1000 watts = 167 watt-hours
OFF: 23 hours, 50 minutes x 7 watts = 167 watt-hours

You could unplug your microwave when ever it is not in use but constantly plugging and unplugging your microwave can get tiresome. To solve this problem install a receptacle with a switch.



The switch controls the receptacle into which the microwave can be plugged in. When the microwave is not in use just turn off the switch and the microwave will no longer be on standby wasting electricity.

A Leviton 15 Amp Combination Switch-receptacle from Canadian Tire costs $8.00. Installation of the receptacle is easy. Just make sure to wire the receptacle so that the switch controls the receptacle. Follow the diagram. The jumper wire is only needed if the switched receptacle does not have a metal jumper plate.

If you like to send ecards and prank telephone messages to your friends you should check out Cardfish. They have set up a free discount code for people to try the service out. You just enter the word FREE as the coupon code.

Cardfish Phone call messages include Santa's elves, The Ring (scary movie), and even president Obama.

The Ring card is quite scary. The ecard will tell your friend that something awful will happen whenever the phone is answered. At the same time their phone rings. No it won't be a telemarketer offering a free cruise. It will be Cardfish's The Ring caller trying to scare your friend.

Saw IV had a feature on their website where you could enter the phone number of your friends and the killer from the movie would call your friend. This feature was so popular and scary that people actually called the police believing that a serial killer was calling them.

The news reports about this feature on their website was great promotional material for the movie.

I get scary phone calls almost every day. The telephone rings and a voice says "Hello, Mr. Frugal Canadian I am going to send you on a free cruise. I don't care if you hate boats, get sea sick, can't swim and are paranoid about drowning in your bathtub. You have won a free cruise and you are taking it...." At this point I hang up, crawl into the little space under the stairs, rock back and forth and think of my happy place.