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UNI_REAL COST

University is expensive. Students get that, but how expensive, exactly?  When it comes to comparison shopping between schools, tuition is the easiest number to consider. But for many students—particularly those who move away from home—school fees are only a fraction of the overall price tag.

MORE: Create a custom university ranking based on what’s most important to you

To determine the real price of an education in Canada, Maclean’s undertook a first-ever survey of 23,384 undergraduate students to find out how they spend their money—and how they saved for an education. We found the average cost of a year of post-secondary education in Canada is $19,498.75. But for some students, the amount is significantly higher.

A University of Toronto student living off campus can expect to spend $23,485 each year, the highest average amount in our survey. Second on list was Ryerson at $23,066 followed by Saint Mary’s University in Halifax at $22,892. Meanwhile, students living at home and attending Sherbrooke had the lowest costs for an education, at just $4,284.

MORE: Ranking universities by the price tag for off-campus students  

In most cases, rent is a bigger expense, but there are other costs to consider: books, booze, extracurriculars and groceries. There are also bus or plane tickets to visit Mom and Dad. Some of these costs seem insignificant, but

Article source: http://www.msn.com/en-ca/money/careersandeducation/what-does-a-university-education-cost-in-canada/ar-AAtInMd?srcref=rss

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Click here to see more personal finance questions answered.

Q: My income fluctuates quite widely from year to year. How do I plan for this and how do I handle the tax implications of such income swings?

—David

A: Yours is the challenge of many a commissioned salesperson or business owner, David. The thought of a stable salary and defined benefit pension plan may be appealing to some, but others, like you – and me – prefer a little more control over destiny. That control doesn’t always mean stability, however.

For starters, I think everyone should have a reserve or emergency fund, particularly those whose jobs are riskier or whose income is variable. An emergency fund doesn’t necessarily mean having six months of expenses sitting in a savings account earning pennies in interest. It could mean a healthy TFSA balance that includes an allocation of conservative, liquid investments. It could mean a secured line of credit available with a low interest rate.

Ask a Planner: Leave your question for Jason Heath »

Having tens of thousands of dollars sitting idle for your whole life may be comforting, but it could usually be put to better use invested in an RRSP or TFSA or used to pay down debt.

So, the concept of an emergency fund, David, can

Article source: http://www.msn.com/en-ca/money/savingandinvesting/planning-through-salary-swings/ar-AAtGHem?srcref=rss

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WASHINGTON – It’s a refrain frequently heard in Canada: That ending NAFTA wouldn’t change much in economic relations with the United States, because the countries could simply pull their older agreement off the shelf, dust it off, and persist in trade without tariffs.

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It’s also wrong, some analysts say.

A few people interviewed this week disputed the idea that the original Canada-U.S. Free Trade Agreement of 1987 would automatically snap back into place if NAFTA disappears, an increasingly relevant topic as hostilities mount in the trilateral trade talks.

“That’s so naive,” said Sarah Goldfeder, a former U.S. diplomat in Mexico and Canada who is following the trade negotiations at Earnscliffe Strategy Group in Ottawa, on the idea of an automatic snap-back.

“You’d have to re-implement (the original agreement).”

That would raise new challenges, she said. First of all, she said the current American political climate would not make for an easy re-implementation. She said there would be demands for a renegotiation within the U.S., and the parties would soon be back at the table struggling with many of the same sticking points.

“There’s no way this (Trump) administration would do this (re-implementation) without negotiating a new agreement,” she said.

“So you’re still going to have to negotiate all the same irritants.”

The current talks have become bogged down amid huge gaps between

Article source: http://www.msn.com/en-ca/money/topstories/if-nafta-dies-does-old-canada-us-fta-live/ar-AAtI2er?srcref=rss

A day before Calgary submits its bid to lure tech giant Amazon to open new headquarters here, an official leading the effort said the city is not interested in “borrowing a company’s loyalty,” but will offer some sweeteners.

The Calgary bid will have no tax incentives — the city is limited by legislation on what it can offer — but the local bid committee won’t disclose whether it’s offering up real estate, according to Mary Moran, head of Calgary Economic Development.

More than 100 North American cities have mused about submitting bids to secure the economic windfall of having Amazon spend $5 billion and create up to 50,000 jobs for its second North American headquarters, dubbed HQ2. Bids are due Thursday.

“This kind of opportunity comes once in a lifetime,” Moran said, noting the bid has drawn support from more than 100 local businesses.

In its 200-page proposal, Calgary pitches the advantages of coming to Canada in general, including up to $600 million in annual savings from not having to pay private health-care premiums.

It also looks at Calgary’s own assets. In total, the bid suggests Amazon’s costs, such as labour, electricity and taxes, would be 14 per cent lower in Calgary than in Seattle, the home of the online retail giant, Moran said.

The city could also leverage funds from a community revitalization levy collected in a swath of east downtown, if Amazon was interested in moving its headquarters to the area.

Just as the city used the levy — which siphons a portion of property

Article source: http://www.msn.com/en-ca/money/topstories/calgary-offers-amazon-sweeteners-for-headquarters-but-no-tax-incentives/ar-AAtHoEb?srcref=rss

Sears Canada will pay a final $2.8 million in retention bonuses to 36 head office staff, even though the retailer’s restructuring efforts failed and the company is closing its doors.

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Promised bonuses were only supposed to be paid in full if the company found a way to survive. However, Sears got court approval on Wednesday to continue paying retention bonuses to key staff such as executives and managers who will now steer the retailer through the wind-down and liquidation process. 

In total, Sears will end up paying up to $6.5-million in bonus payments to head office staff from the time it filed for insolvency in June until it closes for good.

Meanwhile, more than 16,000 employees have recently lost or will soon lose their jobs without receiving any severance, and many of them will likely collect reduced pensions. 

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Former Sears worker Mina Iannino at Ontario Superior Court, where Sears got permission to amend its retention bonus plan.
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Former Sears worker Jennifer Holder says the employee retention bonus plan ‘baffles the mind.’

“Can I use the F-word?” said

Article source: http://www.msn.com/en-ca/money/topstories/sears-managers-execs-will-still-pocket-big-cash-bonuses-even-though-retailer-is-closing/ar-AAtIyoE?srcref=rss