For years the RRSP has been the apple of our eye, the one who swore to provide us with a wonderful retirement, full of cheap trips to Mexico, Netflix and wine. Leading up to retirement it gave us the thrill of a tax deduction for saving money, contribute enough and that deduction leads to a refund. Let’s admit it….tax refunds are sexy...in a baggy sweat pants, no makeup, day three of dry shampoo kind of way.
Too often we stress over the monetary aspect of the holiday season. We place ourselves in a cycle of comparison; believing that we need to spend so much and attend all the events to be valued and viewed as successful. However when was the last time you looked at a gift you received from someone and thought “I saw that at XY store and I know they only spent $20.00…”? You wouldn't so why assume others will do that with your gift. It is the act of giving that people value not the monetary value of the gift.
Financial fraud isn’t an uncommon occurrence anymore. We live in a world filled with scam artists and hackers and they are getting smarter every day. Whether it is by email phishing scams, phone calls pretending to be the CRA or a breach of security with a company like Equifax, the need to be more protective and wary of requests for information is increasing.
Fraud can happen to anyone…trust me…I know. So here is how to protect yourself before it happens and what to do if it happens to you.