Happy New Year!

Phew - we survived 2009!

The New Year is almost here, let's take time to think about some goals we would like to achieve in 2010. If you don't pen them on to paper, how will you ever achieve them?

All the best in 2010!

Check out our new commercials

Check out Libro's new winter commercials, featuring Stratford Account Manager Matt Aarts! Enjoy!

Merry Christmas – just sit back and enjoy!

Four days till Christmas!! The last minute rushing is probably happening in most households. Before the big day arrives take time to remember what the Christmas season is about – enjoying time with family and friends. So sit back and relax!

I hope you have a stress-free, enjoyable Christmas!

Credit Cards - Good or Evil?

As I sit here working on consolidating (or trying to figure out how to consolidate) someone’s credit cards, I am wondering what they have to show for $30,000 in debt. Mostly “toys” they purchased without realizing how much it really costs them when they take into consideration the interest they’re paying by carrying a balance.

Credit cards are great when you use them to purchase larger items that you do not want to carry the cash for, or for reserving cars, flights and hotels for travel. But they can be pure evil when you purchase something that you can’t pay off that month, and then the treadmill starts.

If you look at your credit card bill, the interest rates vary from 19% or higher on some cards. Interest starts accumulating on purchases after your grace period (usually between 21 and 28 days). Plus if you don’t pay one month in full the next purchase has interest accumulating right away!

Remember to only use your credit card to purchase something if you have the funds to pay it off within the month. Credit card debt is a terrible treadmill and normally ends in a hard landing.

Where did my money go?

Christmas season is a perfect time for debit card fraud. I’m sure every single one of us knows someone who lost money due to debit card fraud. In Stratford last January, a lot of money was taken out of accounts unknown to the account holders! How? Where? The customers asked. The answer was that someone skimmed debit cards during the Christmas shopping season.

Skimming means all the account information from your debit card is attained. There are different ways of doing this. For example, the person doing the skimming replaces the entire pin pad that your card is swiped through and when you enter your PIN # into the key pad, they receive all the information they need! The second option for skimmers is to double swipe – they swipe your card through a separate machine to record the account info from the black strip and then they put a tiny camera in place to record your PIN # when you punch it. I know I'm guilty of not covering my PIN when I enter it in. I’m usually talking with the clerk or making sure my children are still beside me in the busy grocery store. So the skimmer has now recorded your PIN # and has access to your account. All they have to do is make a duplicate card and start spending on your account.

Some safe measures you can follow:

• Always keep your debit card in sight


• Shield your PIN when you are entering it


• NEVER share your PIN with anyone


• If your card is missing, cancel it right away


• Monitor your account to ensure the transactions coming off were completed by you. If anything is not yours, call your financial institution immediately to have the card cancelled


• Call the police to report the fraud

Good luck shopping and we just have to keep on eye on things to make sure everything is working fine!

Christmas Shopping – Don’t take the kids!

So I was in a mall last week and since its early December there is always something to pick up. The catch – I had my six year old son with me. So I had to carefully plan my route.

While in Zellers looking at Olympic wear, I made a great effort to ensure we were no where near the toy department. I wasn’t up for the “Mommy, I want…” OR “Can I just have this treat?” My answer is generally no – as I know it is for most parents - because it isn’t what we were in the store for!

BUT the poor mother ahead of me… she had baby in the cart and a 2 year old walking along beside who saw something he felt he couldn’t live without… and dove on it! Well, when mom said no, the tears started, then the stamping foot and we all know what comes next – lying on the floor in a fit till mom gives in! We as the parent have a choice – leave all the items, pick up both children and drag them out of the store OR give in and purchase the $10 or $20 item that will most likely be broken or forgotten before it’s home.

The moral of the story – if you are on a tight budget, you can’t give in to the temper tantrums. Or, just leave the kids at home to complete the festive shopping!

Christmas shopping…. The plan!

I love Christmas! I love seeing peoples' faces when they open a gift they just love. BUT it has to be planned on my part. I make a list and figure out how much I can afford to put in to the total gifts and then start to break it down. If I don’t do this, the budget gets blown out of the water.

I normally do this just for the gift portion, but I came upon a good spreadsheet that includes all the extras of Christmas such as wrapping, food, baking needs that make the entire season jolly! Take a look and use it to plan your Christmas season and avoid the January pains, when the credit card bills are opened!

Do you have financial questions?

Do you have financial questions?

Most of us do!

Why not go to www.libro.ca/belibro and ask a financial question? One of our Coaches will get back to you with an answer. If you visit before December 30, 2009 you will be entered to win up to $10,000. Plus check out other questions already asked and some video answers.

Enjoy!