Simplify your life by cutting out those needless extra expenses. Here are 10 ways to cut back on the money you don't need to spend.

Number Ten:
Pay in cash -- this means you will always know exactly how much money you have. With credit cards, debt can add up quickly and you may not pay them off as fast as you would like to. When you pay in cash, it's also a great feeling because you know it's done and paid for and you won't have any bills piling up.

Number Nine:
Don't get someone else to do it for you -- stop paying extra to get things done for you when you can do them yourself. Instead of automatically taking your shirts to the dry cleaners, wash them by hand and hang them to dry.

Number Eight:
Eat out less -- Visit your local supermarket and pick up fresh ingredients to make homemade meals. You can also take your leftovers to work or have them the next day for dinner.

Number Seven:
Shop with a purpose -- Whether you're grocery shopping or attending to other errands, it's best to shop with a list. A list reminds you of your reason for shopping and to resist impulse items. It is also a good idea to plan your meals in advance, so that when you get to the store you know exactly what you need to make meals throughout the week. Try to avoid shopping when you're hungry.

Number Six:
Get some fresh air -- Walking is good for you, and it's cheaper than driving. If it's possible for you to hike or bike to your destination, do it.

Number Five:
Keep your car longer -- do you really need that brand new car? Maybe your old one will operate just fine for a few more years. If you maintain the car you have now, you may be able to put off buying a new one for quite awhile.

Number Four:
Give up your car altogether -- if you live in a city with well-equipped public transportation, chances are you might not even need a car. When you add up the expenses of car ownership including insurance, maintenance and parking, the costs may outweigh the benefits. Make a detailed list of what you actually need your car for. Try renting a car if you need it for a weekend away, or for the monthly trip to Costco you could take advantage of a car-sharing service such asAutoShare orZipcar .

Number Three:
Find cheaper ways to entertain yourself -- instead of going to the movie theatre, rent a movie, relax and make some popcorn. Movies in the comfort of your own home can be a great way to spend an evening. You can go even further and rent movies from your local library. All you need is a library card and you will have plenty of movies, books and CD's at your disposal.

Number Two:
Limit the luxuries -- do you really need over 500 channels? Most of the time when you order satellite or digital cable, you are paying for a lot of channels that you don't actually watch. You also pay more depending on the speed of internet you have. If you only use the computer to send emails and read online, you probably don't need the fastest service available.

Number One:
Skip the little things -- make your own coffee in the morning. Instead of spending $5 a day on gourmet coffee, take it with you from home. Make it a special treat to buy a coffee once a week from your favourite coffee shop.

Canada’s leading banker says further interest rate cuts are coming because the economy is crumbling quickly.

The Bank of Canada governor suggests that the central bank will slash short-term interest rates again in December to try and boost economic activity.

Mark Carney says more monetary stimulus will be needed for an economy that may not achieve the slight growth previously predicted. He adds that while the risks to economic growth have increased, inflation has become less of a concern.

Carney stops short of saying Canada will fall into a recession, but he acknowledges that one is possible.

People have probably thought about the best way to get money into your RRSP -- but have you thought about the best way to get your money out? If you haven't pondered this issue, you should. Otherwise you could run headfirst into a nasty tax bill.

The people who get swiped the hardest are diligent savers. They're so successful at preparing for retirement that they don't need to tap their RRSPs the moment they hit 65. They just let their money sit there. Then they're surprised to discover that when you turn 71, the government forces you to start withdrawing money from your RRSP, whether you want to or not.

What really stings is that you have to pay taxes on the money you withdraw. If you have a seven-figure RRSP, or if your total income is high because of other investments, you could lose more than 40% of your hard-earned RRSP savings to the tax man. Nothing incenses a 71-year-old more.

The good news is that you can avoid this problem by implementing an RRSP "meltdown strategy" long before you hit your 70s. Here's how.

Filling the tax holes
The best plan is to look for years when your income will be low, especially as you transition out of full-time work. You may even want to deliberately create a couple of such years by retiring a bit early. Those years are your "tax holes," and you can use them to shovel money out of your RRSP at a low tax rate. That doesn't mean that you have to spend the money -- you just want to get it out of your RRSP at the lowest tax rate possible.

Flow through to low taxes
A popular strategy is to use flow-through shares. These are issued by certain mining and petroleum companies and allow you to write off what's called the Canadian Exploration Expense. In some cases, you can get a deduction that's so large, you don't pay taxes on your RRSP withdrawals at all.

A year or so after the deduction has been claimed, you can cash out of your flow-through investment and put the money into dividend-paying stocks, such as those of the Canadian banks. Because of the dividend tax credit, you'll pay less tax on the income you get from yourdividend portfolio than you would pay on money you withdraw from your RRSP.

Pile on the debt
The best way to make this strategy work is to borrow the money in the form of a mortgage on your house, because such loans tend to offer the lowest interest rate. You then invest the borrowed money in a portfolio of dividend-paying stocks, trusts and preferred shares. If you get a yield of 4% or higher on your portfolio, you can usually offset the interest charges. If your portfolio provides a return of just over 7%, you also eliminate the taxes on your RRSP withdrawals.

This plan is a good option for couples who will probably leave a significant sum in their RRSPs when they pass away. In that case you want to get the money out of there, because whatever's left in the RRSP will likely be subject to a tax rate of 40% or more.

Ultimately it's up to you. While paying tax is never pleasant, you can at least take comfort in the thought that a bulging RRSP is one of life's nicer problems.

Inex Pharmaceuticals Corporation ("INEX"; TSX: IEX) announced today (February 20, 2007)the closing of the bought deal financing announced January 30, 2007. The financing was led by Sprott Securities Inc. and included Dundee Securities Corporation and Loewen Ondaatje McCutcheon Ltd. (the “underwriters”). In addition to purchasing 9,000,000 common shares at a price of $1.55 per common share, the underwriters have also exercised their over-allotment option to purchase an additional 1,350,000 common shares at the same price. In total, the underwriters have purchased an aggregate of 10,350,000 common shares of INEX at a price of $1.55 per share, for gross proceeds to INEX of $16,042,500.

Now, the INEX Pharmaceuticals Corporation has been spin-out to Tekmira Pharmaceuticals Corporation ,and the stock price plunge to $0.55/share something.
Is it stupid to invest the money to a stupid company?

It's an international marketplace after all, and there are plenty of nations willing to welcome expatriates fed up with the taxman.
Countries like the Bahamas make tax haven status an integral part of their marketing - relocate to Nassau, and you'll fear no tax man. That's because, for Bahamians and resident aliens there are no taxes on personal income, capital gains, inheritance or gifts.

Tax havens grew out of the late 19th-century British system that began granting independent economic governance to protectorates like Gibraltar, Hong Kong or the Channel Islands, which then became easy places for people to protect money - hence the term off-shore accounts.
By the 20th century, high net-worth individuals were flocking to small islands like Monaco and Bermuda, whose governments figured the money they could garnish off real estate transactions and sales tax made the tax-free incentives worthwhile.

Most countries assess taxes based on residency, not citizenship. As a result, people across Europe who settle down in Switzerland ease into the moderate tax rates. For Americans, however, there's no escaping the long arm of the IRS.
Americans living outside the country are exempt on their first US$82,400 of foreign earned income, but the most recent 2006 tax cuts boosted taxes by up to 20% for expatriates and made it possible for the IRS to dip into foreign retirement accounts for the first time. It is the highest such increase in 30 years, and ex-pats pay it on top of their host country taxes.

Even when relocating to paradise, moving abroad can be a tough adjustment. But it can also offer opportunities for you and your family to explore local culture or take up new hobbies.
Cities like Hong Kong and Geneva offer as many cosmopolitan amenities as you can expect to find anywhere, with many of the comforts of home, from cinemas showing American movies to top-notch international cuisine.
Moving to a small island, though, can make it harder to import your lifestyle - but fortunately the way of life most offer is alluring. Bermuda, for example, has nine golf courses crammed into just 20.6 square miles and temperatures that seldom fall below 60 degrees (16 celsius) or rise above 85 (29 celsius), meaning that it's a rare day you can't play. In the British Virgin Islands, it would be a sin not to work on your skippering skills, while a move to the Cayman Islands virtually requires an interest in snorkeling or scuba diving.