All about Canadian Savings. Learn the ins and outs and get the latest news.
Latest News
How much income do you need to buy a home in Canada? A look at home affordability in March 2025 + MORE Apr 30th
Canada’s spring housing market is missing in action. That’s what the latest March data from the Canadian Real Estate Association (CREA) reveals. Home sales plunged to a low not seen for the month since 2009, with transactions down 9.3% year over year.
The sideline approach taken by buyers isn.... More »
Ayana Forward, financial advisor + MORE Feb 18th
Meet Ayana Forward
Ayana Forward is a Certified Financial Planner based in Ottawa, Ont. She owns Retirement in View, a fee only financial planning firm that specializes in helping clients within one to five years of retirement navigate the financial and lifestyle aspects of transitioning out of t.... More »
The best high-interest savings accounts in Canada for 2025 Aug 20th
Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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MoneySense is an.... More »
Retirement taxes explained: Withholding, clawbacks, and other surprises + MORE Sep 17th
Many working-age Canadians wonder what the impact of retirement will be on their tax situation. As you save and build wealth, it is important to plan for the eventual tax treatment of your retirement assets and income as you approach that transition.
Taxation in Canada
When you are.... More »
New year, new spending habits Dec 5th
Money-wise, it’s been a challenging year for Canadians but the new year is also a chance to build better strategies around how you spend money. Steer clear of these three common pitfalls for financial success in 2023.
Money mistake #1: Not paying off debt quickly
If you’re in the red, youâ.... More »
The Best Credit Cards for Students in 2019
– ratesupermarket.ca
If you’re a student in college or university, you understand that every penny counts. Tuition is high, textbooks are expensive, and it’s hard to maintain healthy eating habits while living off-campus when all you can afford are those packets of Sidekicks pasta for $1.
This is where a good rewards credit card can come in handy. Not only can you earn points, merchandise or cash-back for you purchases, but you’re also given the opportunity to start building your credit. And this is important if you’re a young adult who doesn’t have any credit to your name. If used responsibly, having a credit card will start you off on the right foot so you are eligible for other types of credit in the future, like personal loans or a mortgage. And there’s a great chance you’ll need one of these things eventually.
Rewards cards generally offer different amounts of points or cash-back for particular spending categories (gas, grocery, pharmacy purchases, etc.). Whether it’s rebating you in points, a statement credit, or cash-back in your bank account, a good rewards card maximizes on your everyday purchases and ultimately helps you save, and if you’re a student, you’re likely looking for a card with little-to-no annual fee…
RRSPs: Your Essential Questions Answered
– ratesupermarket.ca
At this time of year, it seems like the financial world is awash with information on what is a Registered Retirement Savings Plan (RRSP), the benefits of having one, and how to start one. But there are still a few planning points that Canadians either aren’t aware of or don’t know how to fully put to use. For instance:
How much should I contribute to my RRSP this year?
There’s no magic number. Most people aim to contribute enough so that when they retire, they can maintain a similar lifestyle to what they currently enjoy. Although there’s considerable debate about the exact percentage, most experts suggest you’ll need 50 to 70 per cent of your current income per year while in retirement.
The maximum you can contribute to your RRSP each year is 18 per cent of your income up to a certain limit (the ceiling for 2018 is $26,230). If you’re managing anything close to that, you’re in great shape. Realistically though, contributing 10 to 12 per cent of your pre-tax income each year is a reasonable target, especially if you’re carrying debt…
