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June 10, 2013

Canadians spending more on Father's Day

836466_13883171Goofy ties. Purple socks. Plaid sweaters.

Yep, Dad has a drawer full of them.

But with Father's Day coming up this weekend, it seems that Canadians are willing to spend a little more on Dad to help keep him stylish.

In fact, Canadians are planning on spending an average of $95 on a gift for Dad, up from $86 last year, according to a new survey by BMO Bank of Montreal.

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April 11, 2013

Canadian men love their shoes

758517_40070393Move over Imelda Marcos -- make more closet room for Canadian men and their love of shoes.

A new report, released by global research company NPD Group, revealed that Canadian men really do like their shoes. 

In fact, sales of men's footwear in Canada stepped up by 13 per cent in 2012 way ahead of women's sales which grew by a modest three per cent. Overall, the industry saw a six per cent growth spurt socking in $5.1 billion in sales.

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April 02, 2013

Will Wal-Mart customers deliver the goods?

First we heard of Wal-Mart weddings, now the latest buzz from the world's largest retailer is that it is considering having its in-store customers deliver packages to its online customers.

With millions of customers across the globe, Wal-Mart Stores Inc. is hoping that this growing trend called "crowd-sourcing" will create speedier delivery services for its online buyers.

The idea is still, well -- just an idea, and all the details have yet to be worked out. For instance, an in-store customer would receive perhaps a store discount for dropping off a package on the way home to an online customer.

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March 15, 2013

The Bay goes back to its roots, eh

HBC NEW LOGOTalk about an evolution.

The Bay is rebranding the company and recently unveiled a new coat of arms logo along with a not so new name -- The Hudson's Bay Company.

I have to  admit, I do have a Hudson's Bay Company point blanket and coffee mug as well as an assortment of Canadian Olympic wear I purchased there such as my mittens, scarf, hoodie and yes, toque.

Heck, even Justin Bieber has been seen sporting what appears to be a Hudson's Bay toque with its trademark green, yellow, red and inidgo stripes in a selfie photo.

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March 13, 2013

Canadians on a penny roll

PennyWhat do you plan on doing with all your hard-earned pennies during the great Canadian penny phase out?

It seems like my change purse -- which was usually overflowing with pennies -- is becoming void of one-cent pieces.

I seem to be taking out my debit card a little more than usual -- especially if the store is rounding up and I will be short-changed so to speak.

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February 28, 2013

Should thrift stores be limited to people in need?

You make a good salary and can afford to shop and buy new clothes at retail. But you really enjoy shopping at a particular thrift store, where you find great bargains even though you sometimes buy items that you really don’t need.

And there's the rub. If you buy something at that thrift store, and lots of middle class people do,  you’re probably taking it away from someone who needs it more than you ... and can afford it way less than you can.

Tough, a deal is a deal, and should be available to anyone who happens to find it. Or are you putting the screws to someone you don't even know and making their life just a tad more miserable in the process?

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February 27, 2013

Credit cards: the good, the bad and the ugly

206579_2170Credit cards can be your best friend or turn into your worst enemy if not used responsibly.

Getting your first credit card is a big deal when you're coming of age. But learning how to use them responsibly is something that requires a little bit of maturity and a little bit of credit card know-how.

"Credit cards are powerful tools to help build credit and financial skills," says Jeffrey Schwartz, executive director of Consolidated Credit Counseling Services of Canada, Inc. "Unfortunately, they can also be dangerous if not used responsibly."

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February 21, 2013

Canadians still penny pinching

PennyIt appears Canadians aren't ready to stop pinching their pennies quite yet.

In what could turn out to become a long goodbye, a new BMO Bank of Montreal report has found that many consumers are not ready to bid farewell to the beloved one-cent piece.

In fact, 73 per cent of those polled in the survey conducted by Pollara expect retailers to continue to accept pennies for their purchases at the check-out counter.

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February 20, 2013

Trimming the little things can make a big difference

CalculatorWhat if you made your morning coffee instead of heading to the drive-thru on your way to work? Crazy idea isn't it?

But is saving some extra money really so crazy?  Believe it or not, those trips to the coffee shop really do add up.

According to the Office of Consumer Affairs (OCA), if you save the $5 instead of buying that latte -- even at 1.5 per cent interest -- you will save about $5,500 over 25 years. Not too shabby, eh?

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February 14, 2013

Retailers are looking for love to boost sales

452631_97838694Lovers may be ringing in Valentine's Day with hugs and kisses, but Canadian retailers are hoping the special day translates into some ringing in at the cash registers.

With sales a little sluggish after the holiday hoopla winding down, retailers are counting on Valentine's Day to give them the extra love they need to spice up their bottom line.

Retail sales typically fall about 4.4 per cent in February.

However, BMO Economics predicts we may see stronger sales for Valentine's Day due to stronger job growth at the tail end of 2012 bolstering consumer confidence.

But even though some retail sales may be in decline, there are still some sectors that are poised for gains, according to the report.

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Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...

Jason BucklandJason Buckland

The modern-day MC Hammer of money, Jason can often be seen spending cash that isn’t his with the efficiency of a Wilt Chamberlain first date. After cutting his teeth as a reporter for the Toronto Sun, he joined the MSN Money team with...