This week the Senate suggested to get rid of penny, according to the Bank of Canada the penny has lost 95% of its value since 1908 and it currently costs 1.5 cents to produce 1 penny. Given these to get rid of the penny, personally I am all for it. Before the Euro came in several European countries did not have pennies in circulation and the economy functioned just fine.
This weeks readings:
Eight Ways to Avoid Car Financing Mistakes @ Wallet Pop Canada
Lending Money to Friends @ Million Dollar Journey
Selecting Winning Managers Through Graphology @ Canadian Capitalist
Does Paying Yourself First and Blowing the Rest Work? @ Michael James on Money
Competition watchdog targets Visa, MasterCard over fees @ Globe & Mail
Catch the falling bond knife? @ Larry McDonald
Do Financial Decisions get better with age? @ Wealth Web Gurus
Throughout the week we highlight other interesting articles through our twitter account, you can follow me on twitter or follow your twitter feed. Enjoy your weekend! You can also catch our Dollar Matters on Monday’s and Wednesdays!