Quotes of the Day

Happiness increases with income, but only to a point. For example, according to the Purdue study, North Americans who earned $105,000 a year reported higher levels of life satisfaction on average than those who earned $60,000 a year. But those who earned more than $160,000 a year reported lower levels of happiness on average than those who earned $105,000 a year. Research reveals that materialistic people tend be far less happy than nonmaterialistic people. The Purdue researchers also surmised that the added responsibility and time commitments of higher-income jobs can take time away from what people enjoy most: connections with friends and family, healthy amounts of sleep, hobbies, and physical activity, for example. [2022] - Andrew Hallam

For rentals, any upgrades need to be durable and timely so that this can last from one tenant to the next. Painting and changing floors and light fixtures is an easy way to spruce up a property quickly and without spending too much money. [2021] - Shazia Virani

Your time is your life. Choose your job with care. Your time is more important than the money that you will receive. Money can be replaced, but time spent is gone forever. [2004] - Brian Tracy

The gross debt service (GDS) ratio looks at the portion of your gross monthly income needed to cover your monthly housing costs (e.g., mortgage payment, property tax, heating and 50% of maintenance fees). Most lenders in Canada are looking for a ratio of 35% or below, although if you have a credit score over 680, some lenders let you go as high as 39%. Aim for a GDS ratio 30% or below (up to 35% in pricey real estate markets). The total debt service (TDS) ratio takes the gross debt service ratio a step further. It looks at the portion of your gross monthly income needed to cover your monthly housing costs, plus monthly debt payments (e.g., car loan, credit card debt, line of credit, student loan). Most lenders in Canada are looking for a ratio of 42% or below, although if you have a credit core over 680, some lenders let you go as high as 44%. Aim for a TDS ratio of 37% or below (up to 42% in high-cost cities). [2017] - Sean Cooper

It will often take three or four visits just to reach the point where the relationship is strong enough that you can talk business seriously. [2004] - Brian Tracy