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Personal Finance

Google Street View – Great For House Buyers

streetGoogle Street View went live today for Toronto, Vancouver, Hamilton, Kitchener, Waterloo, Windsor, Calgary, Canmore, Banff, Lake Louise, Montreal, Quebec city, Halifax.  Apparently Saint John NB, Edmonton, Saskatoon and Winnipeg are next on the list.

If you were impressed by satellite images of your rooftop then you will be really blown away by this service.  I know I was – I spent at least half of my work day playing around with it.

What is Google Street View?

It’s an offshoot of Google Maps – you can select an address, then select “street view” and you will be able to see a picture of the front of your house.  You can rotate the view around and move up and down the street.  Faces, license plates have been blurred for privacy.

Are the pictures recent?

No, apparently last April (2009) Google had cars driving around with cameras that can take pictures of different angles.  They covered every street and every angle and then let the Google computers stitch it all together.

What good is it?

I think one of the best uses for this technology is for someone who wants to buy a house.  They can check out a prospective house for things like curb appeal (which might be out of date) and general location ie is there a wrecking yard next door?
Another use I can think of is if you are planning to visit an address then you can check out what it looks like first.  This would be great for a storefront on a busy street where the numbers aren’t always that visible.
Here are some uses that Google has come up with http://maps.google.com/help/maps/streetview/using-street-view.html#personal

How do you use it?

  • Go to the Google homepage.
  • Click on “maps”
  • Type in an address or intersection
  • Click on the red ballon which shows the exact location of the address.
Click on the red balloon to get started.
Click on the red balloon to get started.

In the popup – click on “Street view” which is just under the picture.

Click on "Street view" under the picture.
Click on "Street view" under the picture.

Another way to get things started is to drag the little orange person at the top of the zoom bar onto the spot you want to see.

You should be looking at the address requested or in some cases it will be nearby.

Rotate the view

In the upper left hand corner there is a circle with a hand plus 4 direction symbols.  If you click on the up and down symbols the view angle will go up and down.  If you click on the left or right symbol then the view will rotate the same way.  This allows you to point in the desired direction or even do a 360.

Click on the left or right symbol to rotate the point of view.
Click on the left or right symbol to rotate the point of view.

Move location

You can actually move the location of your point of view by clicking on the road or any other object like another house.  If you click on the road then a white circle will appear – double click and your point of view will now be where the circle was.  If you double click on something other than the road – such as a house then your point of view will be right in front of that object.

Move the white circle around - double click to move to that spot.
Move the white circle around - double click to move to that spot.

There is also a shape below the navigation circle with a plus/minus symbols – they will zoom in or zoom out.
There is a small screen on the lower right with a little person – you can drag that person to other locations shown on that screen.

Show someone else

If you get a view you want to share with someone else then in the upper right hand corner you can click on “print” or “send” or “link”.  “Print” should be self-explanatory, “Send” means an email is generated with the link to your view.  “Link” just shows you the link to the view and you can do whatever you want with it.

Other ideas?

Can anyone think of other ideas for this neat technology?

Categories
Personal Finance

How To Finish Do-It-Yourself Home Renovation Projects

Most house or condo owners have experience with doing some sort of do-it-yourself projects fixing up their homes.  Maybe this year you wanted to take advantage of the renovation tax credit.  Whether you were painting a room, redoing a bathroom or fixing up your deck, you probably noticed that some (or all) projects are hard to do and especially hard to finish.
I think one of the big problems diyers have is lack of experience so they don’t know how much work and time is involved in the task they are planning to do.  I know that I get frustrated when something is taking a lot longer than I had thought.  If it takes me 80 hours to build a deck then I’m ok with that but if I think it’s only going to take me 40 hours then I will be getting pretty annoyed by about hour 50 when it’s nowhere near completed.
Once you have painted a room or two then you probably get the idea that your estimate should include things like:

  • trip to store to buy paint/supplies and wait while it is being shaken
  • moving furniture
  • removing painting/hangings
  • repairing drywall
  • priming
  • painting
  • 2nd trip to store to buy something
  • painting again (2nd coat)
  • rehanging stuff
  • put back furniture

Whereas your original estimate involved the following task:

  • buy paint
  • 1 coat of paint
  • done

The problem is that a lot of DIYers will do a particular project once and then never do it again.  Or they don’t do it again for many years and forget a lot of the details (and pain).  An example is a new deck.  If you decide to build a new deck for your house – it’s unlikely you will do another one unless you move to a new house so you just don’t have the experience to be able to estimate the time needed to finish the project which can lead to frustration.

Lack of fitness

Another stumbling block to finishing a project is fitness and stamina for physical labour.  Let’s face it – a lot of us spend our work hours sitting in front a computer, in meetings or some situation where we aren’t doing physical labour.  Even if you do exercise outside of work then it’s likely to be a specific type of exercise and for a limited time.  Many weekend warriors try to budget a lot of time for a project on their days off – typically on the weekend.  The problem is that although you might be able to budget 10 hours on Saturday and 10 hours on Sunday for a tiling project – your body will have other ideas.  I remember when I was getting my first house ready for sale I created a “time budget” where I would work 7.5 hours on Saturday, 7.5 hours on Sunday and 4 hours on two evenings during the week.  It didn’t take me long to realize that in fact I wasn’t putting in those hours.  Saturday morning I would put in a good 3 hours before lunch which was quite productive.  After lunch however it was a struggle to get going again and I often would only get another hour or maybe even 2 hours of good work accomplished that day.  Instead of doing 7.5 hours I would usually only do about 4.5 hours.  By adjusting my expectations and work schedule I was able to plan better.  I would only plan to work in the morning and then just do a bit in the afternoon.  Then I would just doing something completely different ie tv & beer.

To all those frustrated workers I have the following suggestion:

Get some help

Having friends give you a hand or hiring cheap labour is a great way to make a project more palatable.  Yes, it might cost more but it’s likely still cheaper than hiring a contractor to do the job and you will still get the satisfaction of doing the job yourself (sort of).  You will feel much better about a project that you finished with a bit of help than a project that you didn’t finish all on your own. 🙂

This is a lot easier to do for some projects than others.  As well, some people have good networks of friends/relatives who have time to help on projects whereas others will have to pay $$ to get some labour.

One thing to keep in mind with cheap labour vs friends is that you can get the cheap labour to spend all of their time doing grunt work whereas your friends might want to share the dirty jobs and expect you to do some too.

This can be done for non-reno projects as well.  For example I’ve hired students to help with waste disposal and cleaning.  Maybe you need to go through your basement/garage and organize things.  Having someone to help (and do the bad parts of the project) can really increase your morale and get the project finished.

This takes a bit of organization.  You have to have some sort of plan in order to use the labour effectively.  If you hire 1 or 2 workers and they spend most of their time with nothing to do then you are wasting your money.  Hiring help works better for larger jobs where there is enough physical labour to keep someone busy most of the time.

Another benefit of hiring help is that it will keep you on track – left to your own devices you might get bored/tired after a couple of hours and take a break that lasts for several years.  Having someone there will help you stay on task.

Some jobs which are good candidates for hiring help.

  • most landscaping projects.
  • new lawn
  • major garden reno
  • deck
  • patio stones
  • fencing
  • drywall
  • painting
  • kitchen cabinets

All these projects could benefit with extra hands.  They are large enough projects with a major labour component.  Tasks where a lot of strength is needed might also be a lot easier with more help.

Projects where you might not get as much benefit would be smaller projects that you can handle yourself.  Ie painting one room only.  More skilled projects like plumbing, electrical, tiling probably won’t benefit as much with extra hands around.

What do you think?  Would you ever hire some cheap labour to help move gravel and patio stones around for you while you do the fun parts of a new patio?

Categories
Personal Finance

Support American Cancer Society – The Big Bundle

One of my blogger buddies – Lynnae from BeingFrugal.net highlighted a deal offered in support of the American Cancer Society.  After looking at the bundle I bought one for myself since there are several items in there that I was going to purchase anyway.  The total retail value of the bundle is $800 although it is extremely unlikely that anyone can use all of the items.

You can head over to her page to find out more details and sign up if you want.  Remember that she also has a promo code “BEINGFRUGAL3” which gives you another 30% off so the final package will cost you$20.95 US$.  Patrick from CashMoneyLife has also written about this so you can find his thought on the big bundle.

Some of the items aren’t all the useful to Canadians (ie restaurant.com) but check out the list to see what is of interest to you.

These are the items that I’m interested in:

  • Mozy Home Edition – 50% off 1 year.  I’ll be reviewing this service.  It is a computer backup service so that allows you to store your files somewhere other than your house (in case it burns down or computer gets wrecked).  1 year is $60 US$ so this is a $30 saving.  This coupon expires on Oct 28!
  • GoDaddy – 1 free domain –   This won’t be of interest for most readers but if you are a blogger of sorts then this might be worth around $10 or so.
  • Corel Photo Album – I’ve never used this but it is a photo editing program.  I do this sort of thing quite a bit with the blog.  Worth $40.
  • Evernote Premium – I’m planning to try out the free service – not sure if the premium service is worthwhile.  This service allows you to easily scan any documents you have and file them electronically for you.
  • Foxit PDF creator – Ok, this wasn’t exactly on my “need to buy” list but I can probably use this.  $30.

Here is a link to the entire list – feel free to explain to me what some of the other things are and if they might be useful… 🙂  Subscription to Zagat???

Keep in mind that some of the discounts have time limits so check the details to make sure you don’t miss out.  Also some of the discounts like gap.com are only eligible on purchases of $100 or more.

Categories
Money

New Jersey Unemployment Benefit Extension Information

The state of New Jersey has been hit quite hard by the current economic downtown and state unemployment levels have been rising.  The unemployment rate in NJ is now 9.7% (up from 9.3% prior to August) which is coincidentally the same as the national average.  New Jersey has lost 155,700 jobs since December 2007, when the jobless rate was 4.5 percent.

As a result of these  high unemployment rates New Jersey state has qualified for unemployment benefit extensions which were introduced as part of the 2009 stimulus package.

Unemployment benefits currently available in New Jersey

At the moment there are a total of 79 weeks of unemployment available:

  • Initial unemployment benefits (UB – 26 weeks) – These are the regular unemployment benefits which are available regardless of the economy.
  • Emergency unemployment benefits Tier I (EUC Tier I – 20 weeks)
  • Emergency unemployment benefits Tier II (EUC Tier II – 13 weeks)
  • Emergency benefits will be paid by the same method as the regular benefits (direct deposit or check).
  • Extended benefits (EB – 20 weeks)
  • 13 weeks from bill H3548 – Note that this has not passed yet.


The past year has not been very good for a lot of American workers.  Because of the 2008 financial crisis and recession – millions of Americans have lost their jobs.  The current national unemployment rate is 9.7% as of Sept 4.  While many workers will find new jobs within the time period of existing employment benefits – many more will run out of benefits before finding a new job.

On September 22, the House passed legislation called Bill H3548 which will allow any states with a total unemployment rate (TUR) of 8.5% or higher to be eligible for federal funding which will allow 13 more weeks of extended unemployment benefits for those people who have exhausted all the current benefits.  If this bill is passed then New Jersey would qualify for another 13 weeks of extended benefits.

Categories
Money

TradeKing Deal – Online Brokerage $50 Bonus For New Account

[Edit – Please note that offer is no longer valid]

TradeKing discount brokerage has just announced a new promotional program where they will pay you $50 just for setting up a new brokerage account with them.

TradeKing is one of the lowest-cost online brokerages around with $4.95 trades. You can set up any type of account you want and use your “buy and hold” investment strategy or buy and sell stocks all day long if that’s what you like.  Open a TradeKing account today and get a $50 signing bonus!

How to get the $50

Easy.

  • Click on one of the links in this article or on the banner below.  You can’t get this deal from the TradeKing site – you must go through one of the “deal” links. Open a TradeKing account today and get a $50 signing bonus!
  • Fund your account with at least $2500.
  • Make 1 trade.

That’s it – once you fulfill those criteria then $50 will be deposited into your account.

Categories
Personal Finance

CRA Taxes – Late Filing Penalties – Reader Question

Last week I received an email from a reader (Michael) which was quite unusual for 2 reasons – 1) we rarely get emails from readers and 2) it was a good question.  🙂

A friend of my girlfriend hasn’t filed his taxes in 4 years, and we were just wondering what the repercussions will be when he either starts to pay or gets caught not filing them?

This is interesting – I have one friend who didn’t file taxes for over 10 years. He eventually hired an accountant and got caught up but I’m not sure if he had any penalties or not. I was only late with my taxes once which is how I was able to learn about the penalties and interest charges.

If you thinking about buying tax preparation software then consider software programs such as TurboTax or TurboTax Canada (formerly QuickTax).

Late filing penalty

According to the CRA website, the basic penalty for late filing is 5% of any taxes owing plus 1% for each additional month you are late up to 12 months.

The penalty is 5% of your 2008 balance owing, plus 1% of your balance owing for each full month that your return is late, to a maximum of 12 months. If we charged a late-filing penalty on your return for 2005, 2006, or 2007 your late-filing penalty for 2008 will be 10% of your 2008 balance owing, plus 2% of your 2008 balance owing for each full month that your return is late, to a maximum of 20 months.

This may not seem like a lot if you are only a month or 2 late but if you were 7 months late like I was then the penalty ends up being 12%.  The time I was late I think I owed something like $600 so the late filing penalty was $72.  As you can see from the description, the penalties are even more severe if you have previous late charges.

Interest charges

As if the penalties aren’t enough – the government also charges interest.  The rate is usually about 5% annually.  $600 owing on a 2008 return filed 7 months late would be about $17.50 which isn’t too bad.

Add it up

My total penalty for the $600 owing – 7 months late would be $89.50 or 15% of the amount owing.   I remember being quite surprised at how much the penalty was since I didn’t realize it got higher by the month.  I had thought that once you are late, it didn’t matter how late you were.  If nothing else – I never filed late again. 🙂

Penalties are only charged on taxes owing

One key thing to remember is that if you don’t owe anything then there will be no penalty for filing late.  Hopefully the reader’s friend is in this situation.  There is recourse for getting taxpayer relief but after skimming the article it doesn’t look like “not getting around to it” is included in the list of circumstances where the penalties and interest might be waived.

Get it done

My suggestions:

  • Make every effort to file your taxes every year on time.
  • If you are late then get it done as quickly as possible since the penalty and interest charges increase every month.
  • If you have a situation where you are way behind in 1 or more tax returns then make it a priority and get it done.  Hire an accountant or tax preparer if you have to.
  • Hire a good tax attorney if you are really in trouble.

Getting caught?

One part of the reader email I didn’t address was about “getting caught”.  I don’t know if the CRA will send you a letter or arrest you or what.  I would assume they already have some idea if you owe money and if it is a high amount they might be giving you a call.  Does anyone have any experience with that sort of thing?

Categories
Money

Cash For Appliances – List Of Eligible Appliances For Rebate

After the quick success of the Cash for Clunker old car trade-in program, the government is now planning a similar rebate plan for your old appliances.  Simply put – there will be cash rebates ($50 to $200) available which can be applied if you buy new appliances with an Energy Star seal.  The main difference with this program is that unlike the Cash for Clunker program you don’t have to trade in your old appliance to get the rebate.  So if you want to move your grandfather’s old 1950’s fridge out to the garage then this program won’t interfere with those plans.

List of appliances eligible for rebates.

The Cash for Appliances rebates will be awarded for the purchase of appliances which have the Energy Star seal.  Make sure it has the seal!!!

Here is a list of the eligible appliances:

  • Refrigerators
  • Air conditioners
  • Washing machines
  • Freezers
  • Central and window air conditioners
  • Dishwashers
  • Furnaces
  • Water heaters
  • Heat pumps

More information on this program

Read a complete article about the cash for appliances program
[edit Dec 9 – Cash for Caulkers

Categories
Announcements

Return To Questrade Deal, Blog Highlight and Last Linkstuff

A quick reminder that the Four Pillars “Return to Questrade” deal is almost over. Check out my original post for details – if you went to RBC last year for the 1% deal and want to return for the $5 trades then this is the time.
My wife and I have completed moving our accounts back to Questrade and I have to say it is nice to have $5 trades again (not that the $10 trades at RBC were that bad) and the best part is that I can move money in and out of my Questrade accounts from my CIBC chequing account which I couldn’t do at RBC Direct.

I think this is going to be the last linkpost for a while (maybe forever). They are fairly time consuming and I’m not sure that they add much value for anyone.

The rest of the links

Thicken My Wallet questions – do you own too much house? Along with the Money Gardener, he tries to figure out how much house is too much.

Canadian Capitalist asks if fixed-income investors have the same problems as equity investors when it comes to sticking to their investment plan?

ABCs of Investing wrote about tax-free municipal bonds.

Carnivals

1031 Exchange

Carnival of 20 Something Finances

Carnival of Road to Financial Independence