Crib Recall
A couple of recalls to tell you about: the first one is a crib, the second a convertible bed for babies, known as abassinet. Both were made in China for a company called Simplicity, which has now gone out of business.
This Simplicity crib also sold under the name Aspen was sold to about 600,000 people across North America at Babies R Us and Wal-Mart between January 2005 and August 2008.
The drop sides can come off the tracks due to a sizing problem with the crib's hardware.
That creates a hazardous gap, which could trap a child. The Consumer Product Safety Commission in the U.S. is aware of nine incidents in which the drop side detached on the crib. Fortunately, there have been no injuries.
The second recall involves a Simplicity 3-1 and 4-1 bassinet. Health Canada isn't sure how many of the units were sold in Canada. But the recall applies to any produced before April 1st, 2008.
The problem is an adjustable fabric flap which is attached by Velcro. If not properly secured a baby could become trapped between the metal bars and suffocate.
Health Canada has received one complaint of an infant slipping through the opening but no reports of injuries.
If you have the crib, you're supposed to stop using it and contact the store where you purchased it. If you have the bassinet the Canadian importer is offering a free repair kit
contact them through the Elfe Juvenile Products website.
And here's a link to the Canadian and US recall pages so you check all the model numbers.
Money Mistakes
With the markets on a roller coaster and a cooling of BC's housing market, you might be feeling a bit cash poor these days. The money decisions you make now can cost you tens of thousands of dollars over your lifetime.
Common money mistake #1 - Using your home as a bank machine.
Rising house prices make home owners feel wealthier and that can lead to problems now that house values are dropping.
Patricia Lovett-Reid with TD Waterhouse says too many people have been using the equity in their homes to finance their lifestyle. It's risky enough to use home equity for investment purposes. It's another thing to just blow the money on vacations, expensive cars and general spending.
"All of a sudden that money may be gone and your home is depressed. So not only have you lost the money you also run the risk of losing your home," warned Lovett-Reid. It's a sobering warning.
Common money mistake #2 - constant consolidation.
Most of us have at least one credit card but too many people have several, carrying large balances. They are making minimum monthly payments and being charged interest rates as high as 28 per cent. For some the solution is to consolidate their credit card debt into a lower interest loan but beware:
"Within six months a lot of creditors are realizing people are applying for credit cards again," explained Julie Jaggernath of the BC Credit Counselling Society.
Debt consolidation only works if you really buckle down and pay off that loan - not if you're going to continue your free spending ways and do it over and over again.
"And that's where people have to take a step back and look at their budget. Do they have one? Is it realistic? " asked Jaggernath.
Common money mistake #3 - buying more house than you can afford
When people are looking for a home - they often want the biggest and most expensive house they can afford. Many are taking 35-year mortgages just to have low enough payments to qualify. But once you move it there are taxes, utilities bills and repairs.
"If you think you can afford x maybe pull back just a slight amount and allow yourself a bit of a cushion. The last thing you want to do is be in a position where you could actually lose your home," said Lovett-Reid.
Another money mistake is cashing in RRSPs to pay off a loan. This can be a double whammy - not only are you losing an investment - there is also a huge tax hit.
With a report by CTV British Columbia's Chris Olsen
