Tomorrow’s Gas Price Today: Long-time Member of Parliament Dan McTeague runs a website that forecasts the next day’s gas prices for major cities across Canada. It can help you decide if you want to tank up today or wait until the next day. The website correctly forecast last week’s spike of approximately 6 cents a litre.

TFSA or RRSP: The Globe and Mail ran a extract from David Chilton’s The Wealthy Barber Returns. In it Dave offers an intelligent take on which vehicle is better for retirement savings.

US Economy in Recession: The New York Times reported that according to the Economic Cycle Research Institute, which calls itself the “world’s leading authority on business cycles”, the US economy is already in a recession or is able to enter into one.

Is it a bear market?: A bear market is typically defined as a 20% decline from a closing high to a closing low. Jason Zweig writes in The Wall Street Journal that this definition is just one of many and others have been in vogue in the past.

Greece and what investors should do about it?: In a pair of excellent posts, Larry Swedroe discusses the implications of the Greek situation and what (if anything) should investors do about it.

Around the blogs

Michael James provides a good reminder to clients of BMO InvestorLine: You have to make a call to move your existing US dollar holdings in your RRSP to the USD side of the account.

The Wealthy Canadian rounds up some of the model couch potato portfolios.

Canadian Couch Potato reported that diversified, passive model portfolio has held up rather well (so far) in the current market downturn.

Canadian Financial Stuff shared a very funny (okay, it won’t be so funny if it happened to me) video about bank fees.

Fraser Smith after whom a certain manoeuvre is named passed away recently. A guest author wrote a tribute to Mr. Smith on Million Dollar Journey.

Tracking spending is surprisingly useful in getting insights into where to cut back and save money. Triaging my Way to Financial Success offered a peek into his system for tracking spending. I use Microsoft Money myself and the good news is it is completely free now.

My Own Advisor offered his take on different ways to reinvest dividends.

On his Retire Happy blog, Jim Yih discussed ways to avoid probate fees but each method has its own set of complications.

This article has 11 comments

  1. Hey CC,

    Thanks a lot for the mention, it is greatly appreciated. A nice round up indeed; I’ll be sure to check some of them out.

    Have a great weekend. 🙂

    TWC

  2. Pingback: Best of Blogs – get serious about debt | Retire Happy Blog

  3. Thanks for the mention CC! Really appreciate it.

    I thought your article this week on the unhedged currency holdings was a great reminder for investors.

    Have a great weekend,
    Mark

  4. CC, how is it that a sitting MP can predict gas prices at retail stations? If he can and the stations all go there at midnight, where is the competition? Seems to me that retailing gasoline is basically a utility and I wonder if it should be treated that way.
    I liked the old days when the stations actually competed for our business.
    David.

  5. I find our obsession with gas prices interesting. I’d like to see someone do an analysis of the expected yearly savings from carefully buying gas on days with lower prices. Thanks for the mention.

  6. Michael, great point. I always do the math – okay, thats 2 cents on 50 litres…so I save a buck. Is it really worth the effort…expense and time to pay much attention? We have Costco selling gas at their Vaughan store north of Toronto now – the line ups are hilarious. 2 cents off and cars are 4 deep across 5 lines on Saturday mornings!

    p.s. the propane refills are indeed good value at $14 vs 21 or so at HD and Canadian Tire.

    • @David Toyne: I don’t think McTeague is a sitting MP. It seems to me that he lost in the last election. I agree with you and Michael. I won’t spend so much time or drive even a little bit out of my way trying to save a buck or two either. Here in Ottawa, the local news station provides a heads up if gas prices were forecast to go up. Last week, it went up 7 cents, so it was worthwhile filling up a day early.

      I don’t know where McTeague gets his information. Insider tip, perhaps?

  7. oh, and isn’t it a bit of an problem that a sitting MP is making money on his site (advertising) that predicts gas prices? I would have thought his efforts would be better placed on issues important to his constituents and the country in general.

  8. Hi there – came across your site today. Very insightful.Be glad to answer any questions you might have about tomorrowsgaspricetoday.com. My cell is 647-22 0-0114

    Dan McTeague

  9. Here is an article about how McTeague had to separate himself from the site while in office:

    http://www.thestar.com/news/gta/article/834972–gas-man-splits-from-popular-website

    This article explains (sort of) how he does the calculation:

    http://www.thestar.com/article/576928

    40,000 hits a day? Maybe I should change the focus of my site. 🙂