Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
Is Wealthsimple’s new direct indexing worth it? Apr 2nd
Wealthsimple, the country’s largest and most aggressive fintech challenger to the big six banks, has been steadily rolling out new features over the past year, each aimed at giving retail investors access to tools that were once reserved for institutions or high-net-worth clients.
Back in Decem.... More »
Scotiabank CEO downplays concerns raised over Canadian debt levels Mar 22nd
TORONTO _ Scotiabank’s chief executive says he disagrees with recent red flags raised over Canada’s high debt levels by an international body, and that he is “comfortable” with the lender’s risk profile.
Brian Porter told a University of Toronto conference that he had a.... More »
The best GIC rates in Canada for 2026 + MORE Apr 21st
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
Canada’s best no foreign transaction fee credit cards 2022 Oct 8th
Canadians love to travel, but when shopping with their credit cards outside of Canada, many pay foreign transaction fees—as much as 2.5%—on every purchase. The good news is there’s a good selection of credit cards out there that either offer no foreign transaction fees or return more than enou.... More »
TD Bank stock: Steer clear or buy the dip? May 16th
TD Bank is making headlines for the wrong reasons and creating a potential buying opportunity for investors in the process.
Here’s what I know about TD Bank’s anti-money laundering troubles so far. Canada’s second-largest bank was loose in implementing the required checks and balances. It w.... More »
Canadian Parents Spending More on Back-to-School than Holiday Gifts
– ratesupermarket.ca
With September just around the corner, kids across the nation are likely dreading the thought of going back to school, and parents are likely dreading the costs that come with it.
From clothing and technology to snacks and supplies, a recent RetailMeNot.ca survey found 53 per cent of Canadian parents agree that back-to-school shopping puts a financial strain on their families, with the average back-to-school spend per family adding up to $883.
And while nearly two-thirds (64 per cent) of parents set a budget for their kids, 56 per cent admit to usually spending more than planned.
New clothes, new shoes, school supplies, a smartphone, and a laptop top the list of items kids ask for the most, leading parents to spend $325 more on back-to-school shopping than what they even spent on holiday gifts last year.
For those parents purchasing those items, the average spend per item breaks down as such:
New clothes: $204
New shoes: $97
School supplies: $103
Smartphone: $255
Laptop: $582
Tips to save on back-to-school items
The survey also found more than one-third of parents (40 per cent) don’t realize how much they are spending on back-to-school shopping until they get the credit card bill, and 39 per cent say it takes months to pay off their bills after…
