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7 ways to protect yourself from ID theft + MORE Jan 7th
Avoiding identity theft is becoming ever more challenging in Canada. The Canadian Anti-Fraud Centre (CAFC) received more than 11,000 identity theft and fraud reports in 2023, and both government and financial institutions report an increase in cases.
According to the CAFC, these are some of the m.... More »
BitMine plans $20B stock sale to boost Ethereum holdings – Details - AMBCrypto Aug 14th
BitMine plans $20B stock sale to boost Ethereum holdings – Details AMBCryptoBitMine Immersion Expands Stock Offering to $24.5B The Globe and MailBitmine (BMNR) $20-Billion Fundraising Sends Shares Jumping by 14% Yahoo FinanceBitMine Immersion Now Holds 1.15 Million.... More »
Six simple ways to get the maximum price from your real estate sale Feb 15th
Get it fixed, get it clean, and get out, Lesley-Anne Scorgie advises..... More »
My three kids chose different educational paths. How do I withdraw RESP funds in a way that’s fair to them and avoids unnecessary taxes? + MORE Sep 1st
Q. I have a registered education savings plan (RESP) for my three children, the youngest of whom is starting university this fall. We have made some withdrawals for the older two kids but the plan is still well-funded. Our middle child has decided to pursue a co-op university program, which is .... More »
Which ETFs are the most tax-efficient for Canadian investors? + MORE Sep 8th
One difference I’ve noticed when speaking with Canadian and U.S. investors is how much more focused the latter tend to be on taxes.
Chalk that up as a win for Canadians. Between the tax-free savings account (TFSA), registered retirement savings plan (RRSP), and first home savings account (FHSA).... More »
Who’s afraid of big, bad debt?
– moneysense.ca
While intergenerational debate continues over who’s had the toughest time, financially speaking, Manulife Bank has just released the results of a survey that looks at Canadians’ attitudes towards debt. Of the 2,000 or so people surveyed, 94% believe “the average Canadian household is in too much debt.” What’s more, 67% of respondents admit to being in debt, and 20% of that group “doubt they will ever be debt-free in their lifetime.”
There are plenty of stats to back up their pessimism. Canada’s household debt service ratio stands at 14.93% of household disposable income, as of the second quarter of 2019. In other words, after income tax has been deducted from earnings, $14.93 out of every $100 goes to debt payments. That’s a record high, and not the kind of record any of us wants to brag about.
“The amount of debt held by Canadian households has been rising for about 30 years, not just in absolute terms but also relative to the size of the economy,” the Bank of Canada’s Governor, Stephen S…
There are plenty of stats to back up their pessimism. Canada’s household debt service ratio stands at 14.93% of household disposable income, as of the second quarter of 2019. In other words, after income tax has been deducted from earnings, $14.93 out of every $100 goes to debt payments. That’s a record high, and not the kind of record any of us wants to brag about.
“The amount of debt held by Canadian households has been rising for about 30 years, not just in absolute terms but also relative to the size of the economy,” the Bank of Canada’s Governor, Stephen S…
