dreams & money: june 2011

16
JUNE 2011 www.dreamsandmoney.com MONEY DREAMS MONTHLY PAGES Dream Issue 16 1 6 Higher Standards Agents... Higher Results! Perrii Muthuraman MBA; M.Com HomeLife/GTA Realty Inc., Brokerage* * Independently owned and operated www.homelifegtarealty.com Email : [email protected] 416.473.6100 Sales Representative 1711 McCowan Rd., #206 Toronto, ON M1S 2Y3 Bus : 416.321.6969 Dream Home is within your reach LET ME SHOW YOU WHERE AND HOW? Protect Your Family, with Guaranteed Investment Take charge of your debts 2 4 11 LOWFARE TRAVELS AND TOURS INC. Excellence in service | Specialist in South Asia | For all your travel needs Lowest fare in town Phone: (416) 261 0555 [email protected] 2625 Eglinton Ave East, Unit-11, Scarborough, Ontario Uncover The Missing Pieces Of Your Financial Plan And How To Put Them Together Real Estate Career Night Interested in Real Estate Career? to Register call 416 298 8383 Coming Soon: Real Estate Class Phase I, Phase II & Phase III When: Where: Twice a month 7:00 to 9:00 p.m. 2250 Markham Road, Unit #3 (Markham & Finch) Come and learn: How to become a Real Estate Agent How to earn 6 figure salary How flexible & rewarding Real Estate career is Email: [email protected] [email protected] www.indiafinancebazaar.com Mobile: 0091 99625 34431 / 99628 99343 Doha Brokerage and Financial Services Ltd - Associate of Doha Bank, Qatar Director - India Finance Bazaar President - Indian Financial Market Academy President - · Online Investments in Indian Stock Market · Online Mutual Fund Investments · Online E-Gold, E-Silver Investment (24 carat Pure Gold) · Investments in Indian properties · Corporate Fixed Income Deposit M.Shekar Das Narayanasamy Mortgage Broker 416-543-6614 Fax: 1-888-511-8960, E-mail: [email protected] Lic# M08007147 Real Mortgage Associates Licence No: 10464 SERVICE WITH INTEGRITY, DEPENDABILITY AND KNOWLEDGE IT’S FREE! FREE!! FREE!!! Read our ePaper anytime www.dreamsandmoney.com MONEY MONEY MONEY DREAMS DREAMS DREAMS & the range of $86. That makes Reid Hoffman, a newly minted billionaire. Before IPO, Hoffman's worth was estimated at $800 million. Now it is almost doubled. In the coming days, watch out for more IPOs from the likes of Zynga, Groupon and Facebook. Probably more new billionaires are in the offing in the Silicon Valley that is known for its super-rich community. What is the secret of success of Reid offman, co-founder of at $ 94.25 on the opening day, May 19 at Hoffman? LinkedIn is a new billionaire. New York Stock exchange. The com- H LinkedIn's IPO (Initial Public pany's initial public offering has Having spent more than two hours in Offering) Shares priced at US $ 45 attracted intense attention from inves- the internet, this is the discovery. In the soared as high as 122.70 before closing tors. By the end of May, it was trading in words of Hoffman: Turn Pg.2 Turn Pg.2 INSIDE Tips for your business 'Happy Ever After' Life Requires Organization & Consistency So you want to be a landlord 8 5 14 10 Tips For a Great Interview 7 Kitchen Food Safety Tips Preventing foodborne illness 4 anada's housing market faces a and 4.5 per cent this year. risk of sliding prices, according C But Canada's resource-rich economy to an OECD report released in May. will improve as the global economy The Organization for Economic gains traction and unemployment starts Cooperation and Development's latest to recede, the OECD said. Canada's economic outlook report said the world economy will expand by three per cent economy is in an uneven recovery and in 2011 and 2.8 per cent next year. That's confronting far more "downside" than a slight upgrade for this year, and a "upside" risks. . It expects the world downgrade for next, since the OECD's economy will expand by between 4.25 last outlook in November. Plans by Prime Minister Stephen Harper's government to slash the deficit are expected to include a reduction in wages for public-sector workers, which will "weigh on household income," the OECD said. Household debt, at a record 149 per cent of Canadians' disposable income in late 2010, will also dampen consumer spending. he Competition Bureau announced member agents the ability to provide today that it has filed an applica- innovative brokerage services over the T tion with the Competition Tribunal seeking Internet. to prohibit anti-competitive practices by "Today, consumers are demanding a the Toronto Real Estate Board (TREB) that greater selection of service and pricing are denying consumer choice and the options when buying or selling their homes ability of real estate agents to introduce and many agents are eager to accommodate innovative real estate brokerage services them," said Melanie Aitken, Commissioner through the Internet. of Competition. "Yet TREB's leadership TREB is the largest real estate board in continues to impose anti-competitive Canada, with approximately 31,000 restrictions on its members that deny members. It owns and operates the Toronto consumer choice and stifle innovation." Multiple Listing Service system (the Toronto MLS information is controlled Toronto MLS system), which contains by TREB and is only accessible to its current property listings and historical members. It is much more detailed than information about the purchase and sale of what is available on public sites, such as residential real estate in Toronto and the Realtor.ca. For example, the Toronto MLS surrounding area. The vast majority of system contains data about previous listing local real estate transactions make use of and sale prices, historical prices for the Toronto MLS system, which is an comparable properties in the area, and the essential tool for agents to help customers amount of time a property has been on the buy and sell homes. TREB is restricting market. how its member agents can provide Because of TREB's restrictive prac- information from the Toronto MLS system tices, agents do not have the to their customers, thereby denying GENERAL & FAMILY PHYSICIAN MARKHAMACK PLAZA MEDICAL WALK IN CLINIC & FAMILY PRACTICE 8-9889 Markham Road(HWY 48) Markham, ON L6E 0B7 Markham Rd. (HWY 48) just south of Major Mckenzie Dr. Online Booking: www.mypatientaccess.ca Practice Website: www.mydoctor.ca/drsiva Tel: 905-554-9400 Dr. Sivakumar Nagamuttu MD, CCFP Pharmacy Onsite Free ample parking Minimal waiting No appointment necessary but preferred 6 Sunday Closed a Week OPEN DAYS Silicon Valley's Newest Billionaire Silicon Valley's Newest Billionaire Canada’s housing prices OECD report risk slide: Competition Bureau Sues Canada's Largest Real Estate Board Turn Pg.2 Dreams come true 416 656 9239 Buying a Home? Reducing Debts? what else? For right contacts what is your dream? Lakshmi at

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Page 1: Dreams & Money: June 2011

JUNE 2011

www.dreamsandmoney.com

MONEYDREAMSMONTHLYPAGES Dream Issue16 1 6

Higher Standards Agents... Higher Results!™

Perrii Muthuraman MBA; M.Com

HomeLife/GTA Realty Inc.,Brokerage*

* In

dep

end

entl

y o

wn

ed a

nd

op

erat

ed

www.homelifegtarealty.com Email : [email protected]

Sales Representative

1711 McCowan Rd., #206Toronto, ON M1S 2Y3Bus : 416.321.6969

Dream Homeis within your reach

LET ME SHOW YOU WHERE AND HOW?

Protect Your Family, with Guaranteed Investment

Take charge of your debts2 4 11

LOWFARE TRAVELS AND TOURS INC.Excellence in service | Specialist in South Asia | For all your travel needs

Lowest fare in town

Phone: (416) 261 [email protected]

2625 Eglinton Ave East, Unit-11, Scarborough, Ontario

Uncover The Missing Pieces OfYour Financial Plan And How

To Put Them Together

Real Estate Career NightInterested in Real Estate Career?

to Register call 416 298 8383Coming Soon: Real Estate Class Phase I, Phase II & Phase III

When:Where:

Twice a month 7:00 to 9:00 p.m.2250 Markham Road, Unit #3(Markham & Finch)

Come and learn:How to become a Real Estate AgentHow to earn 6 figure salaryHow flexible & rewarding Real Estate career is

Email: [email protected] [email protected]

www.indiafinancebazaar.com

Mobile: 0091 99625 34431 / 99628 99343

Doha Brokerage and Financial Services Ltd- Associate of Doha Bank, Qatar

Director -

India Finance BazaarPresident -

Indian Financial Market AcademyPresident -

· Online Investments in Indian Stock Market· Online Mutual Fund Investments· Online E-Gold, E-Silver Investment (24 carat Pure Gold)· Investments in Indian properties· Corporate Fixed Income Deposit

M.Shekar

Das NarayanasamyMortgage Broker

416-543-6614Fax: 1-888-511-8960, E-mail: [email protected]

Lic# M08007147

Real Mortgage AssociatesLicence No: 10464

SERVICE WITH INTEGRITY, DEPENDABILITY AND KNOWLEDGE

IT’S FREE! FREE!! FREE!!!Read our ePaper anytime

www.dreamsandmoney.com

MONEYMONEYMONEYDREAMSDREAMSDREAMS

&

the range of $86. That makes Reid Hoffman, a newly minted billionaire. Before IPO, Hoffman's worth was estimated at $800 million. Now it is almost doubled.

In the coming days, watch out for more IPOs from the likes of Zynga, Groupon and Facebook. Probably more new billionaires are in the offing in the Silicon Valley that is known for its super-rich community.

What is the secret of success of Reid o f f m a n , c o - f o u n d e r o f at $ 94.25 on the opening day, May 19 at Hoffman?LinkedIn is a new billionaire. New York Stock exchange. The com-H

LinkedIn's IPO (Initial Public pany's initial public offering has Having spent more than two hours in Offering) Shares priced at US $ 45 attracted intense attention from inves- the internet, this is the discovery. In the soared as high as 122.70 before closing tors. By the end of May, it was trading in words of Hoffman: Turn Pg.2

Turn Pg.2

INSIDE

Tips for your business

'Happy Ever After' Life Requires Organization &

Consistency

So you want tobe a landlord

8

5

14

10 Tips For aGreat Interview 7

Kitchen Food Safety Tips Preventing foodborne illness

4

anada's housing market faces a and 4.5 per cent this year.risk of sliding prices, according C But Canada's resource-rich economy

to an OECD report released in May. will improve as the global economy The Organization for Economic gains traction and unemployment starts

Cooperation and Development's latest to recede, the OECD said. Canada's economic outlook report said the world economy will expand by three per cent economy is in an uneven recovery and in 2011 and 2.8 per cent next year. That's confronting far more "downside" than a slight upgrade for this year, and a "upside" risks. . It expects the world downgrade for next, since the OECD's economy will expand by between 4.25 last outlook in November.

Plans by Prime Minister Stephen Harper's government to slash the deficit are expected to include a reduction in wages for public-sector workers, which will "weigh on household income," the OECD said.

Household debt, at a record 149 per cent of Canadians' disposable income in late 2010, will also dampen consumer spending.

he Competition Bureau announced member agents the ability to provide today that it has filed an applica- innovative brokerage services over the T

tion with the Competition Tribunal seeking Internet.to prohibit anti-competitive practices by "Today, consumers are demanding a the Toronto Real Estate Board (TREB) that greater selection of service and pricing are denying consumer choice and the options when buying or selling their homes ability of real estate agents to introduce and many agents are eager to accommodate innovative real estate brokerage services them," said Melanie Aitken, Commissioner through the Internet. of Competition. "Yet TREB's leadership

TREB is the largest real estate board in continues to impose anti-competitive Canada, with approximately 31,000 restrictions on its members that deny members. It owns and operates the Toronto consumer choice and stifle innovation."Multiple Listing Service system (the Toronto MLS information is controlled Toronto MLS system), which contains by TREB and is only accessible to its current property listings and historical members. It is much more detailed than information about the purchase and sale of what is available on public sites, such as residential real estate in Toronto and the Realtor.ca. For example, the Toronto MLS surrounding area. The vast majority of system contains data about previous listing local real estate transactions make use of and sale prices, historical prices for the Toronto MLS system, which is an comparable properties in the area, and the essential tool for agents to help customers amount of time a property has been on the buy and sell homes. TREB is restricting market.how its member agents can provide

Because of TREB's restrictive prac-information from the Toronto MLS system tices, agents do not have the to their customers, thereby denying

GENERAL & FAMILY PHYSICIANMARKHAMACK PLAZA

MEDICAL WALK IN CLINIC & FAMILY PRACTICE

8-9889 Markham Road(HWY 48) Markham, ON L6E 0B7Markham Rd. (HWY 48) just south of Major Mckenzie Dr.

Online Booking: www.mypatientaccess.caPractice Website: www.mydoctor.ca/drsiva

Tel: 905-554-9400

Dr. Sivakumar Nagamuttu MD, CCFP

Pharmacy Onsite

Free ample parking

Minimal waiting

No appointment

necessary but preferred

6Sunday Closed

a Week

OPEN

DAYS

Silicon Valley's Newest BillionaireSilicon Valley's Newest Billionaire

Canada’s housing prices OECD report risk slide: Competition Bureau Sues Canada's Largest Real Estate Board

Turn Pg.2

Dreams come true

416 656 9239

Buying a Home?Reducing Debts?

what else?For right contacts

what is your dream?

Lakshmi at

Page 2: Dreams & Money: June 2011

2

JUNE 2011 MONEYDREAMS &

we thank you for being there to provide English Canada and French Canada. our message to our parents, to my No. we are the third force to ensure

adjust in the new society by bringing to mother that doesn't speak a word of Canada stays united and that's why we them the message of the government English as she reads the Greek paper; need you. We will need you for the and in return communicates their she waits for it every single day or she future; we need you today."concerns to respective administration, watches the TV," he advised some 300 Rathika Sitsabaiesan, newly elected Saras continued.publishers, editors and their colleagues. Member of the House of Commons for

The NEPMCC chief spokesman said Karygiannis issued a stirring appeal Scarborough Rouge River, acknowl-the exhibition is a tribute to "our for all politicians to change their edged the exhibition as a demonstration cultures as we are honouring the men message and move away from giving of the strength and diversity of the city and women who dedicate themselves to week-long exhibition of some ethnic media words of platitude and through its ethnic media.the service of the dignity of the human Aof Canada's ethnic publications give them money. Government money Having a council that unites all the race. By recognizing the ethnic publica-were on display at the Rotunda of must not only go to the main media but ethnic media branches goes to show the tions tonight we thankfully acknowl-Toronto's City Hall up to May 14 after also to the ethnic media, the MP community's strength. She told the edge the importance the freedom of being officially open in the presence of stressed. gathering that her election as a young Sri expression, freedom of information and some 700 guests, friends and visitors. Thomas Saras, NEPMCC president Lankan born woman was only possible freedom of the press plays to our

Included in the gathering were observed, in a society with a diverse because the entire community came democracy".members of diplomatic missions in population, the ability to communicate together and all of the ethnic Medias

Tony Ruprecht MPP for Davenport Toronto, representatives from the is a basic element for the future and provided coverage in Scarborough and said every political party, every political Toronto Police Service and York progress of the total population. supported the grassroots candidates. force has to come to members of the Regional Police Service, elected Acknowledging that people are arriving "Without the ethnic media my campaign ethnic community with hat in hand and politicians from the three levels of here on a daily basis, some for better would not have been possible," beg for their votes. "Without you we governments, including newly elected prospects and others are escaping Sitsabaiesan concludedcannot get a majority and that's why the Scarborough Rouge MP Rathika oppression in their own country of The second week of May is dedi-ethnic communities are one family. "It is Sitsabaiesan. origin, Saras said they seek refuge in the cated by the United Nations in honor of now the Canadian family and in another pages of the ethnic press in order to "Ladies and gentlemen of the press, t he "F reedom o f t he P re s s " . ten years you will not recognize a family overcome the language barriers they you are the voice. You are the voice of Consequently the National Ethnic Press which does not have amongst its face here.Canada. Ethnic press media has out- and Media Council of Canada as the members an ethnocultural member, a

grown by far all the mainstream media," They look to the ethnic media to get previous years, organized the exhibition minority member or a member from all said Jim Karygiannis, Member for much needed information about their to show the Canadian public its mem-over the various parts of Canada. That's Scarborough Agincourt in Ottawa in his cultural life in the new country. In this bers' work that has been on-going for why you have become a force. You have address to the ceremony. context the ethnic press and media decades. A committee of the council will become a third force."

become the basic course of information recognize the best 14 publications from "We congratulate you, we are with We don't want the squabble between to newcomers. In addition it helps them the participating publications.you, we stand shoulder to shoulder and

NEPMCC Exhibition Honours Men And Women Dedicated To The Service Of Dignity Of The Human Race

By William Doyle-Marshall

Silicon Valley's Newest Billionaire approaches answer the first few ques-tions I want to know as an investor:From Pg.1

1. How will you reach a massive “As a serial investor, I've enjoyed audience?backing some good Web 2.0 companies,

and it's helped me develop a shortlist of 2. What is your unique value criteria to cut the wheat from the chaff. proposition?After five minutes of a pitch, I know if 3. Will your business be capital I'm not going to invest, and after 30 efficient?minutes to an hour, I generally know if I

With these three elements in place – will. Many entrepreneurs are product-mass audience, unique value, stable focused, which leads them to pitch the funding – a startup has time to discover brilliance of the product. Others are where it can make money….” money-minded, so they can over think

(Source : http://techcrunch.com/2009/04/ the business plan. But neither of these 19/reid-hoffman-my-rule-of-three-for-investing)

Canada’s housing prices risk slide: OECD report

relative to incomes and rents, and the market appears to have stabilized and may cool."From Pg.1

Risks faced by the Canadian econ-The quiet satisfaction of watching omy include fiscal belt-tightening of its real-estate values rise steadily is also key trading partners, especially the U.S.expected to come to an end.

The OECD recommended that Bank "Consumers are unlikely to be able of Canada reverses "highly stimulative" to rely on further significant increases in policy of keeping interest rates at or near house prices to improve their balance rock-bottom levels in order to pre-empt sheets. House prices are already high rising inflation.

Competition Bureau Sues resolves our concerns," added Ms. Aitken. "Consistent with the Bureau's practice, we From Pg.1shared our concerns with TREB, as well as

flexibility to share this important data with what would be necessary to address them. customers in innovative new ways, such as Ultimately, it was necessary for us to seek a through password protected Web sites, also legally binding order from the Tribunal to called Virtual Office Web sites (VOWs). ensure greater competition and increased VOWs permit a customer to search a full innovation in the market for real estate inventory of listings containing up to date services in Toronto and the surrounding data online, before making the decision to area."tour a home or attend an open house. This

TREB disagrees with the bureau's view, enables customers to be more selective and and adds that their hands are somewhat tied focused, and agents to spend less time when it comes to releasing information on trying to find an appropriate property for a homes for sale.specific customer.

"There are consumers on both ends of a While agents can provide detailed MLS real estate transaction where contractual listing information not available on and private information are involved which Realtor.ca to customers by hand, mail, fax, TREB is legally and morally required to or email, TREB's anti-competitive respect," the agency said in a release.practices effectively prevent agents from

providing the same MLS listing informa- The agency has taken numerous steps to tion to customers via a password-protected empower realtors in their use of the internet Web site. As a result, there are currently no in assisting clients, TREB president Bill VOWs operating in the Toronto real estate Johnson saidmarket that enable customers to search a The Competition Bureau, as an full inventory of listings. independent law enforcement agency,

"When the Bureau identifies anti- ensures that Canadian businesses and competitive behaviour, our first preference consumers prosper in a competitive and is always to reach an agreement that fully innovative marketplace.

Page 3: Dreams & Money: June 2011

3

JUNE 2011

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Where your INTEREST is MY #1 Priority ! Where your INTEREST is MY #1 Priority !

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MONEYDREAMS &

Planning to buy a rental property is an excellent idea

Let me give you an introduction to get started.

Ÿ Calculate the net rental income The criteria for financing the rental (gross rents less operating expenses). At units are different from primary a minimum, operating expenses should residence financing.account for the following: mortgage

For owner-occupied 2-4 unit interest, vacancy and maintenance.properties, 50%* of the gross rental

If you are looking for a mortgage of income from the subject property may greater than 65%, then the financial be included in the borrower's gross institutions will require that the mort-annual income.

gage is insured through e i t h e r C M H C o r Genwor th . Through CMHC or Genworth,

For borrowers with other rental financing of up to 85% is available. But properties, the rental income may be it will be subject to a mortgage insur-confirmed with T1 Generals from the ance premium of up to 4.5% of the most current year. mortgage amount. Also, the rental

property can only be residential in Ÿ If there is a rental surplus – The nature. They will not finance commer-surplus amount can be added to cial properties under this program. the borrower's gross annual

income. Finances can also be arranged with B and C lenders, if someone is not Ÿ If there is a shortfall – The qualifying with “A” lender (like Banks) shortfall amount must be added to

Nargis Nanji is a mortgage agent with "Other Monthly Obligations".Avanti Financial Services inc. She can be

Where rental income cannot be contacted at 416 471 1148.validated with T-1 Generals, one of the following guidelines may be applied:

Ÿ Include the full principal and i n t e r e s t i n " O t h e r M o n t h l y Obligations", and 50% of gross rental income may be added to the borrower's gross annual income. OR

Financing a Rental PropertyNargisNanjiMortgage Agent

TDSR: Principal + Interest + Other Obligations Gross Annual Income + 50% of Gross Rents*

Page 4: Dreams & Money: June 2011

4

JUNE 2011 MONEYDREAMS &

hile protecting your family, Let me assume that both of you live available in many product types and are you looking for an up to 82 years (Average Canadian life sometimes it's confusing to select the W

investment return better than GIC? expectancy is 81.2 years) When the life best product based upon your needs. So comes to an end, your family will get review the plan or product you are Permanent life insurance could be $200,000. If you have invested the same investing in and make sure you under-one of the possible solutions. Surprised? (if premature death occurs)$2228 in GIC for 20 years in non- stand the features, benefits and limita-Here's the explanation.registered account and left the invest- Key benefits of permanent insurance tions of the plan.

There are Permanent life insurances ment untouched till your 82 years of plan: 2) If you cancel Permanent in the market that guarantees you better age, to get the final return of $200,000 1) Insurance is one of the essential Insurance before certain number of return while providing protection for you will need to earn 7.48 % return if element of your estate plan empowering years, then you loose the money you your family. Let me illustrate. you are in highest tax bracket or 5.1% you to fund your estate tax cost effec- invested. So consult an expert You are a couple of 42 year old non return if invested in TFSA. Also, keep in tively. (Please review my article about 3) Permanent insurance may not smoker male and non smoker female. mind if you are transferring the GIC of estate planning in 2011 Jan issue. This be the best solution for all your insur-Your insurance premium for 20 pay $200,000 to your kids, in Ontario you article can be viewed online too ance needs. If you need life insurance will need to pay www.dreamsandmoney.digitalepaper.i just to cover your mortgage or if the estate transfer tax – n -Archive January Page 9) saving is low you can be better off with known as probate

2) Cash value can be used partially to term insurance. Term insurance can be f e e s ; b u t l i f e fund your retirement and thus it can be converted to permanent insurance insurance death part of your retirement plan. Using cash without any underwriting (medicals) benefit is tax free value may have tax implications. Please later on when your income improves or and no probate fees ask the insurance expert or Certified the need changes.need to be paid. Financial Planner about this option. This is the conclusion: Debate about I n s u r a n c e

3) Even if you cancel the plan after the choice between temporary insurance experts recommend 20 plus years (21 years in above exam- (Term insurance) which expire at age that life insurance ple) your cash value will be almost equal 85(age 80 with some insurance compa-can not be com-or slightly more than the money, you nies) and permanent insurance is here to pared with invest-invested. Practically, you are insured for stay for ever. But the point is based upon ment because if that period for the cost of interest only. your family's needs, you have to choose death occurs after

either Term insurance or Permanent 4) If you are not able to pay paying a monthly insurance plan (your insurance is paid insurance or a combination of both, to premium for several months due to premium of $200, then the return on up in 20 years and you need not pay after protect your family in case of premature unexpected circumstances, then you can investment is 100,000% and if it occurs 20 years) for 100k coverage each comes death. Something is certainly better than get premium loan to pay the premiums. after one year then return is 8977%to $2228 per year. When you pay this for nothing.Later on you can pay back the premium So investment in permanent insur-20 years, the cost is $44560; now both of Chandresh Brahmbhatt CFP, MBA is an loans when your cash flow improves.ance plan offers your family a financial independent Certified Financial Planner. He you are covered together for $200,000

Limitations of the permanent protection with guaranteed return which is helping Canadians with their investment, in total and in 21st year there is guaran-insurance, mortgage and financial planning Insurance plan:is better than GIC in long term and better teed cash surrender value of $45,500 needs. He can be contacted at 416-722-than any other investment in short term 1) Permanent insurance are and it keeps increasing every year. 8993 or email:[email protected]

Protect Your Family, with Guaranteed InvestmentChandresh Brahmbhatt

MBA CFP

strange. Trust your intuition. People often ask these 5. Maintain good relationship with questions:

your tenant and prospective Income, credit references and Can I buy a rental property? tenant, without compromising rental history?

your own interests.Can I rent my property Yes, when choosing a new tenant, 6. Have proper insurance.instead of selling it now? a landlord can ask the person 7. Have some emergency money Despite all these risks, why people

Yes; some people want to buy rental applying for the rental unit to separately.aspire to become a landlord or landlady?property outright. Some others want to provide information such as: 8. Be a member of some landlord

Basically, there are two reasons. The rent out their house when it doesn't sell. current residence, rental history, association &/or groupsfirst is equity appreciation.Purpose of this article is to provide some employment history, personal

Some experienced people suggest to useful tips for your consideration, if you references and income informa- The second is income stream from keep the 20% rule in mind. That is to are in such a situation. tion. However, the Ontario rents. have no more than 20% of your own Net

Human Rights Code has special First, let me start with some “risks”. Many people buy up properties and Worth locked up in the equity in your rules about asking for informa- hold onto them indefinitely, living off own home. If you have extra equity, use Ÿ Your rent check probably may not tion about the income of a the rents. The longer you hold it, that to buy more rental real estate doing cover your mortgage. prospective tenant. Landlords generally the better appreciation. your home-work properly. Rental real

Ÿ It can take months to evict a bad must follow these rules. Although some landlords may focus on estate include condo's: retail office, tenant from the house. Ÿ Another risk is a drop in housing one strategy or the other, the truth is that industrial and other small commercial.Ÿ Whether your tenant pays the rent prices. Today, this possibility both are in play for any given property. You can't time the real estate market. on time or not, you have to pay cannot be ruled out. In many The tax effect also, sometimes No one knows whether prices will go up the mortgage on time, every Canadian cities, the ratio between makes renting attractive. or down, especially in the short term. So month, or you could lose the property prices and rents is

treat real estate as a long term invest-Finally, if you decide to become a house to foreclosure. currently at an all-time high. As mentlandlord or landlady for the first time, with any leveraged investment, if Yes, there are financial risks and

your goal is to avoid evictions and Whatever you do ... buy and HOLD you borrow money against an vacancies. In addition, there are other vacancies, so your best bet is gainfully FOREVER (if you can) and eventually asset and the value of that asset risks too.employed, self-supporting tenants. , retire on the income. It's what many drops, then you could get into

Some of them are: Here are some tips for you successful real estate investors have trouble. Refinancing may not be Ÿ Legal risks. It is better to know done for years.possible, even if you are a prompt 1. Screen your tenants, duly

The Residential Tenancies Act in payer of loan installments. complying the law. An ancient Chinese proverb reads: Ontario. You have to know the 2. know what the GRM (Gross Rent “be careful what you wish for; you may Ÿ Interest rate risk is another laws on rental properties or you Multiplier) is. If you don't know, just get it”. So know first, what you wish possibility. It could mean can get yourself into trouble it is better not to buy a real estate. for.potential higher mortgage quickly. 3. Take assistance from a lawyer, Real Estate Investing requires careful payments.

who has specialized this kind of analysis of several factors. To discuss your Ÿ Can a landlord ask a person Ÿ Personal situations like possible personal circumstances, call Perrii @ work.applying for a rental unit to

job loss or disability could also 416 473 6100 Perrii is a Realtor. with 4. Avoid situations that seem provide information about their HomeLife/GTA Realty Inc.impact your mortgage payments..

Perrii Muthuraman

So you want to be a landlord

Page 5: Dreams & Money: June 2011

5

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e are familiar with the classic Wfairy tale ending, “and they all lived happily ever after.” Yet we know, that in many cases what comes afterwards, is far from happy. Life experience teaches, and marriage counselors and experts confirm, the happy ending actually heralds a beginning. To experience a happy state, we must eventually face the arduous

task of learning, then applying, what manifesting that state requires.

We have seen TV shows where experts swoop into a living space, create a tornado of change, and in a very short time, produce a lovely, new, clean, and organized environment. To the amazement of recipients and viewers alike, amid tears and 'Oh my Gods', we see a miraculous transformation. The changes are wrought on everything from dilapidated hoarder conditions, through extreme makeovers, to updates and cosmetic facelifts. However once the pros depart, the residents are left on their own, to 'live happily ever after.' But what happens in a week, month, year, to that beautiful, designer space? Just as there are certain skills and requirements for a happy marriage, there are strategies for maintaining a beautiful, functional, well-organized home.

The Websters New World Dictionary defines 'organ' as ... a part, composed of specialized tissues and adapted to the performance of a specific function or functions...

'Organize' is defined as to provide with an organic structure ...a) to arrange in an orderly way, b) to make into a whole with unified and coherent relationships...

Right from conception, our cells begin to multiply and arrange themselves according to purpose and form. Liver cells gather with other cells oriented to liver function. Kidney cells differentiate from heart cells. So it continues until a complete multi-faceted system, a human body is created. Organization and order are at the very foundation of our cellular make-up.

In keeping with discovering what 's needed to live an organized 'happily ever after', here are some tools, which when implemented habitually, will provide a harmonious living or workspace. Although some of these pointers may seem basic, it is amazing how many people overlook them and are consequently burdened with clutter and disorganization.

Organizing Principles

1. A Place for Everything and Everything in Its Place.

This principle ensures you will always know where to look for anything in your environment.

Once you have allocated locations

for items ALWAYS return them to their spot when you have finished using them.

2. Like With Like.

This principle makes organizing easier, especially when you first tackle a large job.

Gather all similar items together in a pile before placing them in their spot.

Examples:

a) Books with books. b) Underwear with underwear. c) Sporting gear with sporting gear.

3. Keep Items in the Place Where You Use Them.

Applying this principle will bring more ease and flow to your daily life.

tomorrow is never guaranteed to Examples:anyone. 'I'll do it later' is half way to

a) Keep kitchen appliances and 'never at all', where things disappear

utensils in the kitchen. under a pile in the lost land of Oblivion.

b) Store towels, soaps, shampoos, By creating a system, you remove a

etc., in or near the bathrooms. great deal of chaos from your life and

c) Bills should be kept where you clear your mind of too many details.

will be making payments, (not Establish a rhythm for doing things in

where you prepare food and can soil necessary papers.)

the time frame in which they d) Hang keys on hooks near a occur. You will achieve more balance convenient pick-up/departure and control.location, (it's best not to keep

keys right by the door where Examples:casual visitors/delivery persons a) We sleep daily, so beds should be might have access.) made daily.

e) Important documents, such as b) We receive mail daily, so open, insurance, mortgage, car loan/ attend to and file mail daily.licenses, health records, income c) Set a schedule to water plants, do tax, etc. should be filed, well laundry, go grocery shopping, labeled and stored in an easy- exercise, etc.access carrying case, (in the event

These are some of the many of an emergency such as fire or organizing fundamentals to support health crisis, you can grab the your organized, (and happier), lifestyle. case on your way out the door.)As a wise friend said, “It's not what you f) Gardening tools/supplies stored do that makes a difference. It's what you in the garage or outdoor shed.do consistently, that makes a

4. Take Care of Things as difference.” They Come Up.

Janine Gwendoline Smith is available for Cultivating this discipline has the coaching, consultation and organizing

services. She can be reached at:added 'spiritual benefit' of keeping us Tel:416-694-7070, E-mail: focused in the 'NOW'. After all, [email protected]

JUNE 2011MONEYDREAMS &

Janine Gwendoline SmithTHE ORGANIZED MIND

‘Happy Ever After' Life Requires Organization & Consistency

express it as an equation, it is like this

Diet + exercise = weight loss

There is an easy way to lose weight. O.k. Now, I will share with you some All you have to do is turn your head of my own and other's prepared from fruits and low fat from right to left and left to right, experiences in losing yogurt is also a good idea. You whenever any food is presented in front weight. Ready? Each can also prepare watercress and of you. Yes, all you have to do is say experience comes as a c u c u m b e r s m o o t h i e b y “no”. Kidding! Alright; now some separate point.blending one cucumber with a serious talk. No guarantees! Before handful of watercress along I keep trying to using anything suggested here, check with some water. lose weight, with your dietician or a family doctor. but it keeps In terms of vegetables,

Drink green tea: Green tea is finding me.cabbage, broccoli, believed to stimulate weight loss. The older you celery, tomato, Therefore, replace your usual tea, g e t , t h e m i n t , coffee, sodas or alcoholic tougher it is to c u c u m b e r s , beverages with green tea as a lose weight l e t t u c e , natural cure to lose weight, because by spinach and including belly fat. Besides, it is t h e n , y o u r B r u s s e l s also believed that it helps prevent body and your fat sp rou t s a r e cancers and fights heart disease. are really good friends.c o n s i d e r e d

Most people gain weight by Salads and sprouts: you can best vegetables to lose weight having intimate dinners for prepare a simple salad by naturally.two...alone.chopping raw tomatoes and How to eat and how many A smile is the easiest way to onions and squeezing lemon times to eat?improve your looks.juice on the mixture. You can also

chew your food slowlyhave tomato juice mixed with This paper is full of quotes. Let me take 3-4 smaller meals at regular honey. conclude with a quote of Socrates. intervals

Nutritious foods rich in proteins “The rest of the world lives to eat, Will diet alone help to lose weight?and other essential vitamins and while I eat to live.” No it has two components. If you minerals. For this, you can

consider adding more apples (particularly green apples), pineapples, kiwis, avocados, grapefruits, guavas, oranges, p a p a y a s , w a t e r m e l o n s , strawberries etc in your weight loss diet. Having smoothies

Ÿ

ŸŸ

Ÿ

ŸŸ

Ÿ

Ÿ

Ÿ

Ÿ

Weight loss through foodBy "Amateur"

Page 6: Dreams & Money: June 2011

JUNE 2011

I came across your paper Dream 1 Issue 5 May 2011 recently. The articles were well-researched and quite relevant and useful to a new immigrant like me.

Thank you very much for publishing it.How do I go about getting every issue that comes out of your presses? I live in

Malton near Westwood Mall.Keep up the good work. May the Lord be with you always.

Gopichandran SasidharanI read the Dreams & Money epaper regularly online. I actually felt the

complicated ideas of business was transformed to very simple and easy to understand concepts. For example, when I read the article in the May 2011 issue, "The World's Least Corrupt Nations" I was truly fascinated. After reading this article I enjoyed the simplicity of the writing, because the article clearly explained how the score of corrupt nations is calculated, the definition of corruption, and a well organized table listing the least corrupt nations in order. In addition, having such an interesting and colorful article in the front cover is a great hook for the readers. Another wonderful idea incorporated throughout the epaper is the use of quotes. Providing quotes to support the evidence is a superior way to teach the audience of readers. If I was to pick my favorite quote, which is mentioned in this epaper it would be "Information is not knowledge. The only source of knowledge is experience.” mentioned by Albert Einstein. To me this quote portrays the fact that in life mistakes will occur, but during this process knowledge will be obtained. Adding on to this the quote is also trying to explain that personal experience contains more wisdom rather than reading plain old books. Due to this entertaining epaper I would not change anything throughout the business issue, because the epaper offers a wider variety of topics such as interest rates, investment opportunities, and wellness of people, successful entrepreneurs, and a lot more. To conclude, the epaper, Dreams Money just simplifies the complicated concepts, so much that I could consider this business magazine, Business for Dummies.

Thanks,Vignesh Palaniappan

From Globe and Mail Mr. Harper's win is an endorsement of the Conservative Party's steady The Conservative election victory is stewardship of the economy and a double victory for Stephen Harper. comparative respect for the free market, Not only have the Conservatives its relative moderation and its concerted secured their elusive majority, but the effort to reach out to new Canadians. election also produced a New …….Democratic official opposition. The

relegation of the Liberals to third-party The majority provides an opportu-status represents an historic moment in nity for a stable, four-year government, Canadian politics, and an opportunity which allows Mr. Harper and the that the Conservatives can build on if Conservatives to take the long view in they listen to their better angels and tackling Canada's biggest challenges – demonstrate moderation and the politics especially economic growth and fiscal of consensus. …… restraint in an era of global uncertainty,

and the imperative to make health-care

delivery sustainable as the population ages. ……

The victory, however, should not be read as an endorsement of Mr. Harper's unfortunate tendencies to secrecy and control, or of his low regard for Parliament and its officers.

From Edmonton Journal

Layton des t royed the Bloc Québécois in Quebec and, by splitting the vote with Liberals in Ontario, allowed the Conservatives to slip up the middle and win more seats in Central Canada.

Thus, it was Layton who helped Stephen Harper win his third election victory -and his first with a majority government. It was Layton who kicked the Liberals into third place -the party's worst election result ever. And it was Layton who turned Gilles Duceppe into the Kim Campbell of the devastated BQ. ……

Layton has made history by becom-ing the first NDP leader of the official opposition, a prospect that seemed almost impossible at the beginning of the campaign last month. In the end, Harper may have won the election, but it was Layton who won the respect of voters. He is the underdog who came out on top.

From the Ottawa Citizen

This election also proved that televised leaders' debates can still mark turning points; it was not long after the French-language debate that NDP leader Jack Layton's astonishing success in Quebec began to show up in the polls.

EDITORIALSYou said it!Your mails!

DISCLAIMERDreams and Money takes care to present all

the information as accurately and efficiently as possible. Any advice or recommendation appearing in the paper is also part of information only. They should not be construed as an expert opinion. Please note that no representation or warranty with respect to the accuracy or the completeness of the information is given. Information always keeps changing. Hence all the information, including advice and recommendations are to be treated as of general nature only. For your speci f ic circumstances, you are always advised to consult an expert before acting on any information.

unsolicited articles are welcomeselected ones will be publishedemail : [email protected]

& community news

Copyright © 2010 Dreams and Money, Canada. All Rights Reserved.

Chief Editor & PublisherPerrii Muthuraman

Direct : 416 473 6100

105-2100 Ellesmere Road,Scarborough, ON, M1H 3B7

Ph: 647 352 4945 | Fax: 647 352 6110Email: [email protected]

www.dreamsandmoney.com

Layout, Graphic Designing & Digital Epaper

NEWSSMART, INDIA

www.newssmart.in

Editorial & Development Committee

V.S. Thurairajah

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NargisNanji

Chandresh Brahmbhatt

Karthik .M

Aishwar .M

Please send us yourmails either electronically

or by regular mail.105-2100 Ellesmere Road,Scarborough, ON, M1H 3B7

Email: [email protected]: 647 352 4945 | Fax: 647 352 6110

6

MONEYDREAMS &

A roundup on the federal election - May 3 Editorials/opinionsWORTH REPEATING

These are some ideas only; it’s up to you to choose

between an attainable and unattainable resolution.

This year, I resolve to...

Ÿ Gain weight. At least 20 pounds.

Ÿ Stop exercising. Waste of time.

Ÿ Read less. Makes you think.

Ÿ Watch more TV. I've been missing some good stuff.

Ÿ Procrastinate more. Starting tomorrow.

Ÿ Not jump off a cliff just because everyone else did.

Ÿ Stop bringing lunch from home: I should eat out more.

Ÿ Get in a whole NEW rut!

Ÿ Start being superstitious.

Ÿ Spend my summer vacation in Cyberspace.

Ÿ Create loose ends.

Ÿ Get further in debt.

Ÿ Wait around for opportunity.

What is attainable for you?

Have you had any New Year resolution this year?

Is it not time to review?

Think seriously

Resolutions ……Not seriously….ATTAINABLE Mid Year's Resolutions

IT'S FREERead our

ePaperany time

www.dreamsandmoney.com

Page 7: Dreams & Money: June 2011

7

JUNE 2011MONEYDREAMS &

You have just been invited to an interview with your dream company. How to succeed in your interview? Following tips will guide you to your success.

loud jewellery.

Possible Source: company's website and read about their vision, mission, strategy, Arrive at least 15 minutes early for your products, finances, departments, competi- appointment. Observe the company's tive advantages, competitors etc employees as you sit in the lobby.

The introductory speech is your one Remember, a conversation is a two-way minute opportunity to enlighten the exchange. Be curious and ask lots of interviewer about yourself and what you questions to get a good understanding of have to offer. how the company, department and manage-

ment operate. Ÿ Be prepared to talk about career changes and breaks you may have had. When responding to the employer's

Ÿ Make a list of your main strengths questions, tell the truth! If you made a and the things you are currently mistake, say it in a positive way, accept working on towards your profes- responsibility for it, and explain how you sional growth. have benefited from the experience & what

you have learnt. Do not pretend to be Ÿ Be also prepared to talk about your something that you are not, it will not work!weaknesses and how you are trying

to overcome them.

If the interviewer finds you suitable, it is he who should initiate the compensation discussion. You as the candidate would not Practice in front of the mirror if neces-be the right person to open the topic.sary.Once this topic is started by the interviewer, you can respond and negotiate if an offer is

Assuming you did your homework as made.

suggested in point 1 you can offer examples of innovations, process improvements or

Remember, 50% of the responsibility for revenue saving ideas that may be of interest. the right job match is yours. You Try to be a good story teller, when offering are interviewing the employer just as they such examples. Examples, of course should are interviewing you. After all if you are relate and relevant to the present job applied selected, you will be spending at least half of foryour waking day in this environment. So ensure that this is what you really want!

The way you dress makes a statement Quite simple isn't it?

about yourself. Avoid bright colours and

1. Research the Company. 6. Good Timekeeping is Essential

2. Prepare your Introduction & 7. Be confident and engage Key points. in a Dialogue.

8. Be Open and Honest.

9. Do not talk Salary or Benefits. 3. Smile, be natural and

speak with confidence.

4. Identify Achievements

10. Take Responsibility.

5. Dress for Success.

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Page 8: Dreams & Money: June 2011

8

How safe is your kitchen?

Eight quick tips for the kitchen(at home, work, school, etc.)

Get off to a CLEAN start!

BLEACH SANITIZER

surface/utensil and let stand briefly.

Did you know that most foodborne Rinse with lots of clean water, and air illness results from poor food handling dry (or use clean towels).at home? Your kitchen could be a high risk environment. Bacteria can thrive in food that is improperly stored or

ŸKeep separate cutting boards for handled. Reduce the risks by following raw meat, poultry and seafood and these tips from Canada's food safety a different one for ready-to-eat and experts. Play it "food safe" in your cooked foods. Clean and sanitize kitchen!cutting boards after each use. Plastic cutting boards can be easily

Handwashing is one of the best ways cleaned in the dishwasher.to prevent the spread of foodborne ŸWash the lids of canned foods just illness. Do you wash your hands for at before opening them to prevent least 20 seconds with soap and warm dirt from getting into the food. water before and after handling food? Clean the can opener's blade after

Wash again when you switch from one every use.food to another. ŸTake small appliances apart (food

Are your countertops and utensils processors, meat grinders and clean and sanitized? Sanitizing reduces blenders) right after you use them, bacteria and can prevent foodborne and clean and sanitize them illness. thoroughly.

It's important to thoroughly clean ŸAir dry dishes and utensils if you everything that comes in contact with can, or dry them with clean kitchen your hands or your food! Don't forget towels. Wash and sanitize towels, about kitchen cloths . . . faucet handles . . sponges and cloths often to prevent . sink drains . . . garbage disposals . . . bacteria from growing.can opener blades . . . refrigerator ŸClean the pantry regularly, handles . . . small appliances . . . utensils, keeping food off the floor. Store and so on. food in sealed containers.

ŸThoroughly wash and sanitize Combine 5 mL (1 tsp) of bleach with containers and utensils that were in

750 mL (3 cups) of water in a labelled contact with raw food before you spray bottle. reuse them.

After cleaning, spray sanitizer on the ŸIf you have an infection or cut on

JUNE 2011 MONEYDREAMS &

Kitchen Food Safety Tips Preventing foodborne illnessand freezer. Are they cold enough?

Set refrigerators at or below 4°C (40°F). Use a refrigerator thermom-eter to check the temperature.

Keep freezers at or below -18°C (0°F). Use a freezer thermometer to check the temperature.

Don't overload your fridge and freezer. Cool air must circulate freely to keep food properly chilled.

Clean the refrigerator and your hand, cover it with a bandage freezer regularly.and then wear disposable gloves

Bacteria can be carried in raw meat when preparing food. But remem-juices. Place raw meat, poultry and ber: gloves pick up bacteria, too. seafood in containers on the bottom Change gloves frequently and shelf of the refrigerator. Use containers wash gloved hands as often as bare that are large enough to prevent raw hands.juices from dripping onto or touching

ŸUse a food thermometer to other food.measure the internal temperature

Foodsafe tip:Freezing will NOT of your food.kill all bacteria that might have been in the food before it was frozen. Only

Fridge and Freezer Checklist cooking your food to a safe internal Refrigeration slows down most temperature will kill harmful bacteria.

bacterial growth while freezing can stop the growth of most bacteria. (But remember: refrigeration and freezing

The Canadian Food Inspection won't kill bacteria. Only proper cooking Agency (CFIA) is the Government of will do that!)Canada's science-based regulator for

Don't let bacteria get a foothold! animal health, plant protection and, in After you shop, immediately put away partnership with Health Canada, food food that needs to be refrigerated or safety.frozen.

For more information on food safetyvisit : www.inspection.gc.caCheck the temperature of your fridge

Cold Facts

Safeguarding Canada'sFood Supply

Internal Cooking TemperaturesYou can’t tell by looking. Use a digital food thermometer to be sure!

Beef, veal and lamb (pieces and whole cuts) - medium-rare

Beef, veal and lamb (pieces and whole cuts) - medium

Beef, veal and lamb (pieces and whole cuts) - well done

Pork (pieces and whole cuts)

Poultry (e.g. chicken, turkey, duck) - pieces

Poultry - whole

Ground meat and meat mixtures (e.g. burgers, sausages, meatballs, meatloaf, casseroles) - beef, veal, lamb and pork

Ground meat and meat mixtures - poultry

Egg dishes

Others (hot dogs, stuffing and leftovers)

63°C (145°F)

71°C (160°F)

77°C (170°F)

71°C (160°F)

74°C (165°F)

85°C (185°F)

71°C (160°F)

74°C (165°F)

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JUNE 2011MONEYDREAMS &

Page 10: Dreams & Money: June 2011

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Page 11: Dreams & Money: June 2011

11

You know you have a debt when unforeseen financial circum-problem when you: stances impact your ability to make

regular mortgage payments, it's impor-Ÿ frequently pay bills after their due tant for you to take quick action. With date;early intervention, cooperation, and a

Ÿ regularly bounce cheques; well executed plan, you can work Ÿ use an advance from one credit together with your lender to find a

card to pay the minimum amount solution to your financial difficulties. To on another card; learn more, visit the CMHC website…

Ÿ receive a call from a collection Selling one of your assets / agency; possessions

Ÿ regularly ask friends or family for While not always easy to do, selling loans; an asset can alleviate a difficult financial

situation. An asset is something that you Ÿ have your utilities cut off (tele-own (that you do not owe money on). If phone, hydro).your budget cannot be adjusted (your

Other warning signs income cannot be increased and your include when you:expenses cannot be cut back), you may

Ÿ have cut back on regular budget decide to sell anything of value that you expenses such as clothing, are willing to part with such as a house, a recreation and sometimes even food;

Ÿ are considering a second job in order to balance your budget.

Depending on your personal circumstances and the extent of the problem, several options are available to help you better manage your debt.

Before going further, have you tried…

Reworking your budget /Budget counselling

Preparing a budget and planning your spending means making choices and sticking to them. For instance, if you have not planned to buy furniture or clothing or to travel, then don't. By following your budget, you will find it easier to control your spending, to pay for essentials before anything else, and to free up some money each month to

car, a television, in order to get your debt repay your debts. You will slowly find down to a manageable size. (If you are that you have more money available, planning to sell your Home or Business, especially as your debts disappear. you may contact Perrii, Realtor at 416

Consolidating your debts473 6100 to know your best options)

A debt consolidation loan is a single If you have tried the above options,

loan (ideally from a financial institu-then the other options, given below, may

tion) that allows you to repay your debts be relevant.

to several or all of your creditors at once. Consumer ProposalYou are then left with only one outstand-

ing loan - to the financial institution. In A consumer proposal is an offer addition to streamlining your debts into made by a debtor (through a trustee in a single payment, a debt consolidation bankruptcy or a person appointed by the loan may also offer you an interest rate Office of the Superintendent of that is lower than that charged by your Bankruptcy to administer consumer creditors, saving you money in interest proposals) to his or her creditors to charges. modify his or her payments. To learn

more about consumer proposals visit the Contacting your creditor(s)Office of the Superintendent of

Making arrangements with your Bankruptcy website.

creditors is a way to ease your debt Bankruptcyrepayments. Draw up a list of your

creditors, then contact each one with a Bankruptcy is a legal process proposal for either a reduction in your performed under the Bankruptcy and payments, an extended deferral of your Insolvency Act. Because of your debts, or a reduced rate of interest (or all inability to pay your debts, you assign three). You can also ask a debt manage- all of your assets, except those exempt ment program advisor such as a trained by provincial law, to a licensed trustee in budget/credit counsellor to do this on bankruptcy. This process relieves you of your behalf. most debts, and legal proceedings

against you by creditors should stop. To Dealing with Mortgagelearn more about bankruptcy visit the Payment DifficultiesOffice of the Superintendent of

According to the Canada Mortgage Bankruptcy website.

and Housing Corporation (CMHC), (Source : Industry Canada ic.gc.ca)

choosing a course of action that could help you reduce your debt.

In short, preparing a budget will allow you to:

Ÿ understand your true financial position; budget is a tool that allows you

Ÿ determine how much money you to take control of your personal Aneed to meet your basic needs;finances and to make the best use of

Ÿ achieve your goal of regaining your income in order to meet your control of your spending;needs, according to your values and

Ÿ evaluate your daily expenses;preferences. It also helps you to plan and Ÿ identify the priorities that will be to ensure that you reach your objectives

the base of your consumer and aspirations. When we realize where choices; andour money is going, some options may

Ÿ perhaps even save for more become more apparent.difficult times or help make a Insofar as we have basic needs to cherished dream become reality.fulfill a roof over our head, heat, a car

Useful budgeting toolsfor getting to work, clothing, childcare Preparing a budget means identify-and school costs for children, food, etc.

ing as accurately as possible your and other needs such as recreation, income and expenses for the next twelve travel and that tenth pair of shoes… you months. This can been done by referring must understand your financial situation to expenses from the previous year or a in order to distinguish between what is tally of your monthly expenses for a set essential and what is unnecessary. This period, or by using a budgeting will allow you to see your spending worksheet. A copy of their Suggested priorities.Budgeting Worksheet appears sepa-You have to understand the reason rately in this page. For your require-for your debts and obligations (required ments, you may download it from payments, due date of bills, etc.) before ic.gc.ca. It is free.

JUNE 2011MONEYDREAMS &

Take charge of your debts Why a budgetis necessary

Your Budget

Budgeting Worksheet (suggested)

Irregular or annual income (indicate the monththis amount is received)

Month: Tax refund/Bonus/Other

Salary or benefits (net)Income from investments(interests and dividends)Family allowancesCanada Child Tax Benefit(CCTB)Other

Total

Monthly Income Spouse 1 Spouse 2

TotalTOTAL INCOME

TOTAL INCOME

Food

Clothing

Groceries / Convenience storesRestaurant meals / take-out

Clothing

Monthly Expenses

Housing

Health care

Transportation

Recreation andEducation

Other Expenses

Payments toCreditor(s)Total

Grand Total

Credit Card(s) / Car payment / Other

Rent/MortgageHydroHeatTelephone, Internet, cableMunicipal and school taxesInsurance (fire, theft and liability)Interior and exterior decorRepairs/maintenance (plumbing, etc.)Miscellaneous

Dentist / OptometristMedication (prescriptions)OtherPublic transit / TaxisCar

Other

GasMaintenance/ repairsInsuranceRegistration / Driver’s licence / Parking

Adult(s) Children

SUMMERY IncomeExpensesTOTAL

(-)

(Source : Industry Canada ic.gc.ca)

Page 12: Dreams & Money: June 2011

12

Salamu Alaikum, would you like Did You Thank Allah something, brother?”

for Your Eyesight?“Wa Alaikum As Salam. Oh! No! one I choose will be the next emperor!” emperor asked everyone to quiet down.

No!" said the pious man. "I don't want He looked at Ling, and then announced One boy named Ling was there that to buy anything, but I want to ask you a to the crowd, "Behold your new day and he, like the others, received a question." He then related his dream.emperor! His name is Ling!" Ling seed. He went home and excitedly told couldn't believe it. Ling couldn't even "Well, that is very simple to his mother the story. She helped him get grow his seed. How could he be the new explain," said the shopkeeper, "but you a pot and planting soil, and he planted emperor? Then the emperor said, "One will have to do something for me before the seed and watered it carefully. Every year ago today, I gave everyone here a I answer your question.”day he would water it and watch to see seed. I told you to take the seed, plant it, if it had grown. After about three "I will do anything for you," replied water it, and bring it back to me today. weeks, some of the other youths began the pious man.But I gave you all boiled seeds which to talk about their seeds and the plants

“All right! Take this saucer; there is would not grow. All of you, except A blind boy sat on the steps of a that were beginning to grow.some mercury in it. Go to the other end Ling, have brought me trees and plants building with a hat by his feet. He held Ling kept checking his seed, but of the street and come back fast within and flowers. When you found that the up a sign which said: "I am blind, please nothing ever grew. Three weeks, 4 half an hour. If the mercury falls out of seed would not grow, you substituted help." There were only a few coins in weeks, 5 weeks went by. Still nothing. the saucer, you will hear nothing from another seed for the one I gave you. the hat. By now, others were talking about their me. There you go now.”Ling was the only one with the courage

A man was walking by. He took a and honesty to bring me a pot with my The pious man took the saucer and few coins from his pocket and dropped seed in it. Therefore, he is the one who started running. The mercury nearly them into the hat. He then took the sign, will be the new emperor!” wobbled out of the saucer. He saved it turned it around, and wrote some

just in time, and slowed down. Then he The Prophet taught, "Truthfulness words. He put the sign back so that remembered he had to return within leads to righteousness, and righteous-everyone who walked by would see the half an hour, so he started walking at a ness leads to Paradise. And a man keeps new words.fast pace. At long last he returned on telling the truth until he becomes a

Soon the hat began to fill up. A lot puffing and panting. "Here is your truthful person. Falsehood leads to Al-more people were giving money to the mercury, safe and sound," he told the Fajur (i.e. wickedness, evil-doing), and blind boy. That afternoon the man who shopkeeper. "Now tell me the true Al-Fajur (wickedness) leads to the had changed the sign came to see how interpretation of my dream.”(Hell) Fire, and a man may keep on things were. The boy recognized his telling lies till he is written before The shopkeeper looked at the pious footsteps and asked, "Were you the one Allah, a liar." [Sahih al-Bukhari, Vol. man's weary condition and asked him: who changed my sign this morning? 8:116] "Well, friend, how many times did you What did you write?”

remember Allah while you were going The Pious Man and The man said, "I only wrote the from this end of the street to the other?”plants but Ling didn't have a plant, and truth. I said what you said but in a the Shopkeeper

“Remember Allah!" exclaimed the he felt like a failure. Six months went different way.”pious man. "I did not remember Him at There lived a pious man all by by-still nothing in Ling's pot. He just

What he had written was: "Today is all. I was so worried about the mercury himself, who spent most of his time in knew he had killed his seed.a beautiful day and I cannot see it.” in the saucer.”praying, fasting and praising Allah. Everyone else had trees and tall

Almost all his waking hours were Do you think the first sign and the “But I do remember Him all the plants, but he had nothing. Ling didn't utilised in meditation and devotions. second sign were saying the same time," said the shopkeeper. "When I am say anything to his friends, however.

thing? doing my business, I am also carrying He just kept waiting for his seed to mercury in a saucer. I am fair, honest grow.Of course both signs told people the and kind to my customers. I never boy was blind. But the first sign simply A year finally went by and all the forget Allah Ta'ala in my dealings with said the boy was blind. The second sign youths of the kingdom brought their other men.”told people they were so lucky that they plants to the emperor for inspection.

were not blind. Should we be surprised “Men whom neither trade nor sale Ling told his mother that he wasn't that the second sign was more effec- (business) diverts from the remem-going to take an empty pot. But honest tive? brance of Allaah (with heart and about what happened, Ling felt sick to

tongue) nor f rom performing his stomach, but he knew his mother “It is He, Who has created for you As-Salaah (Iqaamat-as-Salaah) nor was right. He took his empty pot to the (the sense of) hearing (ears), sight from giving the Zakaah. They fear a palace. When Ling arrived, he was (eyes), and hearts (understanding). He was very happy with his spiritual Day when hearts and eyes will be amazed at the variety of plants grown Little thanks you give." [surah Al- progress. No wicked thoughts came to overturned (out of the horror of the by the other youths. They were beauti-Mu'minun; 78] his mind and no evil temptations torment of the Day of Resurrection). ful-in all shapes and sizes. Ling put his entered his heart.That Allaah may reward them accord-empty pot on the floor and many of the The Emperor and

One night, he dreamt a rather ing to the best of their deeds, and add other kinds laughed at him. A few felt the Seed disturbing dream. He saw that a even more for them out of His Grace. sorry for him and just said, "Hey nice shopkeeper in the town was far superior And Allaah provides without measure An emperor in the Far East was try.”to him in spirituality and that he must to whom He wills"growing old and knew it was time to When the emperor arrived, he go to him to learn the basics of true choose his successor. Instead of surveyed the room and greeted the The thief and spiritual life.choosing one of his assistants or his young people. Ling just tried to hide in

children, he decided something the blanketIn the morning, the pious man went the back. "My, what great plants, trees different. He called young people in the in search of the shopkeeper. He found and flowers you have grown," said the A thief entered the house of a pious kingdom together one day. He said, "It him busy with his customers, selling emperor. "Today, one of you will be man, and found nothing there.is time for me to step down and choose goods and collecting money with a appointed the next emperor!" All of a the next emperor. I have decided to As he was leaving, the pious man cheerful face. He sat there in a corner of sudden, the emperor spotted Ling at the choose one of you.” perce ived h is d isappoin tmentthe shop and watched the shopkeeper back of the room with his empty pot. He

and threw him the blanket in which he carefully. No signs of any spiritual life The kids were shocked! But the ordered his guards to bring him to the was sleeping, so that he should not go at all, he said to himself. His dream emperor continued. "I am going to give front. Ling was terrified. "The emperor away empty-handed.could not be true. But then he saw the each one of you a seed today. One very knows I'm a failure! Maybe he will

shopkeeper disappear to pray his Salah. (Source : www.islamcan.com)special seed. I want you to plant the have me killed!”When he returned, he was busy dealing If you have liked this page, you would also seed, water it and come back here one When Ling got to the front, the like similar story pages in the previous with money matters again.year from today with what you have Emperor asked his name. "My name is issues. To see the previous issues, please

grown from this one seed. I will then The shopkeeper noticed the pious visit: www.dreamsandmoney.comLing," he replied. All the kids were judge the plants that you bring, and the man sitting in the corner and asked: "As laughing and making fun of him. The

JUNE 2011 MONEYDREAMS &

Great Islamic Stories

Page 13: Dreams & Money: June 2011

13

ay 2011 Indian equity market started with a negative note on M

rumors of aggressive rate hike by RBI. Inflation has persistently remained 4% from 3.5% effective immediately. transportation fuel. Reserve Bank of much above the comfort level of the India will continue to persevere with its However, during the month, Indian Reserve Bank of India. The uncertainty anti-inflationary stance to tame raising corporate had announced better quarter in global commodity prices poses a inflation. Presently the hike and seek results, which supported the market major risk to domestic inflation as the being played by crude prices, inflation of central bank, by which NRIs can trend. The combined net profit of a significant increase in global crude also and RBI is affecting our market to a purchase and sell securities, There are total of 2090 companies rose 15% to n leads for higher inflation. Central bank great extent. And adding to the worries both repatriable as well as non-22.5% rise in sales in the quarter ended hiked repo rate and reverse repo rate by are global slowdown, political instabil- repatriable scheme bases. When the March 2011 over the quarter ended an aggressive 50 basis point and also ity, negative public sentiments etc purchase is made on repatriable basis, March 2010. And also, 13th May 2011 lowered baseline economic growth the funds have to come from NRE/FCNR become auspicious day for the market, But even after analyzing the causes forecast GDP from 8.6% in 2010-11 to account.If the original purchase is done as assembly poll results reportedly for downturn, we can say that India around 8% in 2011-12. The RBI also with the funds from NRO account, then showed the Congress party and its story has not ended; else $200 billion increased savings banks deposit rate to the sale proceeds are non-repatriable. coalition is set to come in power in most with institutional investors would have

you can do trading by sitting in your of the states. The favorable outcome fled for safer waters. Exports being 14 place (abroad) through internet facility. helped allay fears of a political uncer- % of GDP, India is less vulnerable to You can even trade through more than tainty and build optimism that the external shocks than many other Asian one broker at a time. With regard to ruling government may push nations. Political uncertainties too have taxability, capital gains on investments pending reforms like narrowed down. Savings in India have for more than one year are long term in fuel prices hike and a risen at a historic rate of 35 % on the nature and are not taxable. In the case of land acquisition bill growing GDP base; 17 % of this is in short term capital gains in PIS, tax shall for farmers and gold, commodities and real-estate while be deducted at source by the bank. industry. financial savings represent 18 % of Permanent Account Number (PAN) as GDP. So even after such downturns, we If diesel price is well Demat account is compulsory. can be hopeful for a positive market. h i k e d , i t c o u l d

For any further information and assistance, f u r t h e r s t o k e Non-Resident Indians have a better you may contact M. Shekar at inflationary pressure opportunity to invest in Indian market 0091 9962534431 or Email: shekarm@

indiafinancebazaar.com in the economy -- t h ro u g h P o r t f o l i o I n v e s t m e n t Website: www.indiafinancebazaar.comdiesel being a key scheme(PIS). It is an approved scheme

JUNE 2011MONEYDREAMS &

Financial News and Views from India M.Shekar

nvesting can help you save money Stocks can provide higher returns to do the things you want to do like than other types of investments, but you I

going to college or university, traveling also have a higher risk of losing some or the world or buying your first car. all of your investment.

Mutual fundsDifferent kinds ofMutual funds are a collection of investments and investments from one or more catego-

how they work ries. Each fund focuses on specific investments, like government bonds, Cash and cash equivalentsstocks from large companies, stocks

These include savings bonds, from certain countries, or a mix of treasury bills and guaranteed invest- stocks and bonds. The level of risk and ment certificates. return depends on what the fund invests

Cash investments are generally very in.safe, or "low risk," However, they often Returns can include distributions to have lower rates of return than other investors of dividends, interest or other types of investments. income earned by the fund. You can also

Bonds make (or lose) money if you sell a fund for more (or less) than you paid for it. When you buy a bond, you are These are called capital gains (or lending your money to a government or losses).company for a certain period of time. In

Alternative investmentsreturn, they promise to pay you a fixed rate of interest at certain times and to Alternative investments include repay the "face value" at the end of the more complicated types of investments bond's term (its maturity date). like options, futures and forward

will receive any profits the company contracts, income trusts, limited allocates to its shareholders. These partnerships, hedge funds and foreign profits are called dividends. currency trading. These are typically

meant for sophisticated investors who You can make money on a stock in can afford to take more risks.two ways: if the stock increases in value

and if the company pays a dividend. Securities regulators oversee However, there are no guarantees that a Canada's capital markets and the stock will make money or that the advisers who sell and manage securities company will pay a dividend. The value traded in those markets.of a stock can go up or down sometimes For more information :

www.securities-administrators.ca.frequently and sometimes by a lot.Bonds typically offer better rates of Source : www.osc.gov.on.careturn than cash investments because

you're taking on more risk by lending out your money for a longer period.

Stocks

When you buy stocks or "equities," you become a part owner in a business. Depending on the size of the business, there could be hundreds or thousands of other part owners, or shareholders. You

Risk means the possibility of losing money on your investment. Return is the amount of money that you earn on an investment. Usually, the higher the potential return, the higher the risk.

Risk and return

As a part owner of a company, you may be entitled to vote at the share-holders' meeting. However, you won't be involved in the company's day-to-day decisions.

Part ownership“”

The face value is the value the bond was issued at and is the value you receive when it matures. Interest payments are based on the face value. For example, a bond that has a face value of $1,000 and an interest rate of 5% would pay you $50 a year.

What is face value?“

”When you buy a mutual fund,

you're pooling your money with many other investors. The main advantages are that you can invest in a variety of investments for a relatively low cost and leave the investment decisions to a professional manager.

How mutual funds work“

Investments101

Page 14: Dreams & Money: June 2011

• If you or your spouse or common-law partner carried on a business in 2010

for each full month that your return is (other than a business whose expendi-

late, to a maximum of 12 months.tures are primarily in connection with a

• If CRA charged a late-filing penalty tax shelter), your return for 2010 has to on your return for 2007, 2008, or 2009 be filed on or before June 15, 2011.

your late-filing penalty However, if you have a for 2010 may be 10% of balance owing for 2010, your 2010 balance owing, you should have paid it on plus 2% of your 2010 or before April 30, 2011.balance owing for each

• CRA start charging full month that your

compound daily interest return is late, to a maxi-

on any outs tanding mum of 20 months.

balance for 2010 starting • CRA may waive or May 1, 2011, until you

cancel this penalty as well pay it in full.as any interest that may

• If you owe tax for apply if you file your

2010, and you file your 2010 return after return late because of circumstances

the filing due date, CRA will charge a beyond your control. If this happens,

late-filing penalty.complete Form RC4288, Request for

• You can pay before you file your Taxpayer Relief, and mail it to CRA.return. If you do, specify the year to

• You may have to pay a penalty if which you want the payment applied.

you, knowingly or under circumstances When you complete your return, claim

amounting to gross negligence, have this amount on Line 476 - Tax paid by

made a false statement or omission on instalments. If you have filed your

your 2010 return.return and paid the outstanding balance

The penalty is equal to the greater of:by April 30, 2011, CRA would not charge you interest or a late-filing $100; and 50% of the understate-penalty. ment of tax and/or the overstatement of

credits related to the false statement or • If you owe tax for 2010 and do not omission.file your return for 2010 on time, CRA

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14

Successful PeopleManagement tipsSUCCESS

STRATEGIES

Source : BDC Profit$ www.bdc.ca

Celebrate y o u r success but 1

keep an eye on the competition.

Build a team that is focused 3

on customer service and helping clients succeed with

your product.

To stay a h e a d o f competitors, invest in 2

innovation. Aim to constantly develop and introduce improved processes, features

and products.

Become "an engaged b r a n d " b y 4

interacting with your customers. Think about participating in social media and offering value-added

content through podcasting, blogging and video.

Stay on top of w h a t ' s 5

happening in your industry and provide this information to your customers. It sends the message

you're a leading expert in your field.

TIPS FOR YOUR BUSINESS Treat people as individuals, not commodities.1

Build your culture as you grow.5

Make your expectations clear to employees and be 4clear on what your employ-

ees can expect from you.

Take the time to choose the right people, but be pre-2pared to make tough

decisions if they don't fit in. When in doubt, out. Managers are trained, not born.

They can be the strongest or 8weakest link in an organization. Train them well.

Focus on quality rather than speed when growing the company.7

C o m m u n i c a t e , communicate, communi-3

cate. It's the most effective and cheapes t way to boos t employee engagement.

C l e a r l y d e f i n e a n d communicate your vision as well 9as your HR philosophy, strategy

and processes.

If you want to grow, you have to let go. Reduce micro management 6

and start delegating.

Employees perform better when engaged, appreciated and inspired. That comes

from the top and has to be genuine. Walk the talk.

10

How

to a

dopt

an

inno

vatio

n m

inds

et With your team's help, develop a strategy for improving your products or services, 1your processes, your marketing strategy, your business model and your supply chain. Then keep it up to date.

Tap the creativity of your employees. They have intimate knowledge of your 2business and industry, and will often be your best source of ideas.

Look for ideas and feedback from suppliers, customers and other stakeholders. An 3idea could be as simple as changing a process, adapting a product to a new market or exploring new ways to reach customers.

Invest in capital assets that improve your competitiveness, especially information 4and communications technology. The high Canadian dollar can make this a particularly good time to invest.

Don't look for the magic bullet. Focus on continuous incremental improvements.5 Study innovation, change and creativity. Educate yourself. Go to conferences and 6travel.

Take action on new ideas. Even if they fail, have faith that you're on the path to 7innovation.

Did you know?

Page 15: Dreams & Money: June 2011

15

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made a total of 6.5 million donations online. They were able to raise more shared and share it with their about what you did, in ocial media is all the rage these than $500 million dollars. The average S network, their network does Facebook; it is only people in days. There is Facebook, donation was $80, and the average the same and pushes the your network – because they Twitter, LinkedIn, Wordpress, Tumblr donor gave more than once.content out further if they like are your friends.etc. There are so many services that

it. What ends up happening is, apparently weave the fabric of the social 2. Burger King's “Sacrifice ten My inner-geek wants to if what you shared is likable, it web. What is the big deal about this friends” application. The application show you a small demonstra-reaches thousands of people in anyway? It's a reasonable question. quickly went viral and was adopted by tion. Imagine you post a clever a very short time.These services provide a way to connect over 20,000 users, sacrificing over tweet that 4 of your friends like.

to your friends, family, and strangers 200,000 friends for free burgers.I can see your smirk; you're They re-tweet it (share it with and share anything and everything you thinking “I can mass email thousands of their network). Now it has gone to 4 Of course, if it were that easy, want (unless they block you). people and 'reach' them just as easily”. new networks; and say, 4 people in each everybody would be doing it. And it

Here is why you can't do it – of those networks liked it (that's 16 We all know or hear about people isn't. But the point here is, these net-people who liked it so far). Now if this using services like these to share their works provide you the infrastructure to 1. You are a jerk for spamming happens 5 more times, your tweet would photos, thoughts and sometimes reach thousands of people quickly and thousands of people. If that doesn't stop have reached more than 7500 people extremely uninteresting and uncanny effectively. The message you deliver is you, read on(not a typo – I do mean seven thousand details of their life, like what they had what determines how far it is going to

2. What you did was illegal and five hundred people). And all this could for lunch or how many times they had to go.you can be fined for doing it have happened in a few minutes.visit the bathroom in a day. That is not My original intention was to do a

3. Chances are, your email is what I am going to talk about. I am going Here is the icing on the cake. Think roundup of the different services and going directly to spamto talk about how these services can help about this, you put a clever tweet about how you can use them to help your

put your business in overdrive. What a waste, all that time you spent your business. A few minutes later, this business. But I am running out of space. emailing the thousand people didn't could mean more than 7500 people now The basic idea behind all these I'll continue that on the next issue (1 reach most of them. Got you jailed know about your business. You hit the services is the same. You have a network month can be a long wait, but don't and/or fined. And people will start jackpot. This kind of marketing is called (friends in Facebook, followers in forget to pick the next issue up. If you're avoiding you now. After all that, you viral marketing. Social networks are Twitter, Connections in LinkedIn). You having trouble finding the new issues of didn't get much back in return. especially good at this. There are many publish content to this network, to share Dreams & Money, register online at

success stories:it with them. If they like it, your network http://www.dreamsandmoney.com to The way these social media services spreads the content out further. Each get notified of the new issue as soon as it are different, is that the network you 1. Fundraising for the Obama person in your network has their own is ready).have is a network that wants to hear presidential campaign: 3 million donors network. When they take what you have from you. Random strangers won't hear Aishwar is a Software Developer working

in Toronto. You can contact Aishwar at [email protected] or visit his technology site at floatingpoint.ca.

Aishwar .MSoftware Developer

Let's talk!Powering your business through the Social Web

I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.

- Warren Buffett

The four most dangerous words in investing are: 'this time it's different’.

- Sir John Templeton

The individual investor should act consistently as an investor and not as a speculator.

- Ben Graham

Every once in a while, the market does something so stupid it takes your breath away.

- Jim Cramer

Invest in yourself. Your career is the engine of your wealth.

- Paul Clitheroe

Know what you own, and know why you own it.

- Peter Lynch