• Start saving a down payment for a revenue property. By choosing the right property, the revenue will cover your mortgage payments and you’ll end up with substantial equity—which you can use to invest in a second property!
• Do strategic renovations. By upgrading your kitchen or bathroom, you can add resale value to your home.
• Now’s the time to invest in mutual funds. Smart investors always buy low and sell high. Most experts agree that stock markets are likely to rise from their current low levels.
• Invest in professional development. Take a course or attend a conference that will help advance your career and increase your earning power.
• Make a charitable contribution. Not only will you be helping a worthy cause, you’ll generate an even bigger tax refund next year

1. Sensitive to pollen? Wash your hair before bedtime. Reason: You’ll remove any pollen and keep it from settling on pillow and bedding. Also: Avoid irritants such as tobacco smoke, automobile exhaust, hair spray and perfume, wash your hands frequently, plan outdoor activities when pollen counts are low.
2. Best time to take an antihistamine, is before symptoms start. Since some allergy medications cause drowsiness, ask your health care provider for the non-drowsy formula.
3. Dust mites love to nest in area rugs and make you sneeze and itch. If you’re allergic, place your area rugs outdoors in direct sunlight for a few hours until they become warm and dry. Result: Mites dry up and die.
4. Moving to another location is no guarantee of allergy relief. Why: People usually develop allergies to their new region’s pollens and molds within a few years of moving. Plus: Most allergy-provoking grasses are widespread throughout the world.
5. As many as 20% of Canadians believe they have a food allergy, but true food allergies are actually rare. What most people consider food allergies are usually signs of digestive problems, food poisoning, toxins or stress.
6. Ozone air purifiers can help with airborne allergens. And use a humidifier or dehumidifier, as needed.

1. If you do not already have credit, the easiest way to establish it is to get a credit card. Then be sure to always pay on time each month. If possible, pay your full balance monthly. Don’t get numerous credit cards, though, as this is often the start of a lifetime of debt and credit problems.

2. Never ask for a higher limit on your credit card. This is often a sign that you can’t manage credit, so it could make your credit score worse.

3. If you already have debt, try to pay off as much of it as possible. This demonstrates that you don’t need credit, which ironically makes it easier to get credit. It also improves your debt to income ratio, which is especially important for some loans and mortgages.

4. Add additional credit to make for a more well-rounded credit history. Car loans and even cell phone bills add to your credit score as long as they are always paid on time.

5. Take responsibility for what’s in your credit reports. Get copies and look them over for any errors. You might be surprised at how often credit reports are not accurate. If there are any errors, dispute them and get your credit reports corrected.

These tips should help you really build a better credit score. And that will increase the likelihood of qualifying for credit cards, loans, mortgages and maybe even that new job you want.

In the case of renovations, bad debt would fund improvements that have no value to future buyers. Whereas good debt would add convenience and pleasure today, while increasing your home’s value tomorrow. By opting for good debt, the interest you pay on your equity loan can be more than covered by the increase in resale value.

Improvements to kitchens, bathrooms and outdoor living space offer the highest return on investment. Here are a couple of things to keep in mind:

• In general, the more recent the improvement, the higher the return on investment.
• The most appealing kitchens have an open plan with island, and an efficient triangle between the refrigerator, stove and sink.
• Adding a deck increases the apparent floor space of your home. Make outdoor and indoor space blend seamlessly by using French doors and indoor-style light fixtures and furnishings.

By renovating strategically, your improvements can pay for themselves, plus create a healthy profit!

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As the saying goes, “The lowest rate will save you hundreds, but the wrong term can cost you thousands.”

Put another way, your mortgage term can have a far greater impact on interest cost than the up-front interest rate. That’s because your term determines the length of time you’re locked into a rate. That, in turn, affects how long you’ll overpay or underpay, relative to the other available options.

The wrong term can get mighty expensive if interest rates deviate from your assumptions, or if you need to break your mortgage early. It therefore pays to make the right choice from the get-go.

Almost anyone can find a low rate by browsing the Internet. Picking the right term isn’t so easy. Take some time, get good advice, and nail the right term the first time. Below you’ll find bite-sized term reviews to give you a running start.

Popular Fixed Terms…

Here’s a breakdown of the most common mortgage terms:

1-year Fixed: If rates rise as economists expect (see: mortgage rate forecast), then a deeply discounted 1-year fixed is mathematically a good alternative to a variable. At the end of the term, you can move into another 1-year or consider a variable rate—possibly at a better discount than today.
2-year Fixed: Rates on two-year terms are now low enough to make them slightly more attractive than variable and 1-year fixed rates. That’s assuming prime rate increases 1.75% in the next two years. If your rate expectations are lower than that, then a 1-year fixed performs better “on paper.”
3-year Fixed: This is unquestionably the sweet spot thanks to 3-year rates under 3%. The three-year beats all other terms in our internal rate simulations. If we were forced to pick one strategy for the next five years, a three-year fixed followed by two one-year terms would be it. As always, the trade-off with a 3-year term is more risk in years 4 and 5.
4-year Fixed: At today’s rates, 4-year mortgages are still a waste of time unless you plan to break your mortgage in four years. (Remember, however, that people do refinance every 3.5 years on average.)
5-year Fixed: This is the most popular term in Canada, and government restrictions on variable-rate qualification have made it more so. Fortunately, 5-year fixed rates have never been lower—literally. At under 3.50%, the conservative 5-year term has become attractive even to long-time variable-rate devotees.