Money 201: More Personal Finance Advice for Every Canadian

Debbie Feisst is the reference/Internet resources librarian in the
Information Services Division of the Edmonton Public Library.

Ellen Roseman is a business columnist at The Toronto Star, a regular
guest on radio and television shows, and the author of six books. Before
all this, she was a consumerism and personal finance columnist at The
Globe and Mail and the associate managing editor of The Globe and
Mail’s Report on Business. Her book Money 101 (2002), which was dubbed
“a crash course on financial basics,” is now offered as a course at
the University of Toronto. Money 201 picks up where Money 101 left off.
Both books are based on a series of articles Roseman wrote for The
Sunday Star.

Money 201 is designed to “improve your personal finance IQ” and
offers basic advice for everyday Canadians who are short on both time
and funds. The text is organized into five parts: “Cutting Costs of
Transportation and Shelter,” “Getting Your Finances in Order,”
“Investing in Tough Times,” “Saving for Retirement In and Out of
an RRSP,” and “Financial Planning and Your Extended Family.”

Roseman offers practical tips that could potentially save thousands of
dollars. For example, if you are in the unfortunate position of having
to bring your vehicle in for service after the warranty has expired, you
may be eligible for a “secret warranty” that some vehicle
manufacturers do not advertise. As well, operating a two-wheel-drive
vehicle versus a four-wheel-drive could save you five to ten percent in
fuel costs. Additional topics covered include buying a good used car,
refinancing a mortgage, financial institution fees, and planning for
elder care.

Money 201 contains a well-organized index and an annotated directory of
websites used throughout the book. This guide is highly recommended for
public-library collections or for individuals who want to get a better
handle on their personal finances.