Not sure how to make a savings plan? Read on…
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The best high-interest savings accounts in Canada for 2025 Sep 24th
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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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How to plan for taxes in retirement in Canada + MORE Oct 22nd
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When I retire and start to take an income, I would like to make sure the withholding tax is sufficient to cover what I would owe, when all my sources of income are considered.
In my case I will have CPP, OAS, a small pension, RRSP/RRIF income.
For each of these sources can I ele.... More »
What to do when you have insufficient or unused RESP funds Aug 14th
Registered education savings plans (RESPs) are the best way to save for a child’s post-secondary education. Contributions attract government grants, and the accounts grow tax-deferred. Withdrawals can be used for trade school, college or university funding in Canada and abroad.
According to Sta.... More »
Canada’s best credit cards for people with bad credit 2022 + MORE Apr 24th
Conventional wisdom may lead you to believe that if you have bad credit, you should swear off credit cards. However, if you want to improve your credit score, you’ll have to prove you can handle credit responsibly—and one way to do that is (you guessed it) to have a credit card. When used respon.... More »
Contributing to your grandchild’s RESPs: What grandparents need to know + MORE May 14th
You’ve likely heard the saying “It takes a village to raise a child.” Well, with the cost of college and university tuition rising every year, it just might take a village to pay for post-secondary education, too. That’s where grandparents can help with registered education savings plans (RE.... More »
Saving up to buy your first home? Here’s why you should do it in a TFSA instead of an RRSP
– thestar.com
Both allow your savings to compound tax-free, but for most younger first-time home buyers, the more flexible TFSA comes out on top.Saving up to buy your first home? Here’s why you should do it in a TFSA instead of an RRSP
– thestar.com
Both allow your savings to compound tax-free, but for most younger first-time home buyers, the more flexible TFSA comes out on top.Should You Give Your Teen a Credit Card?
– ratesupermarket.ca
Over one-third of Canadians share a joint credit card with their partner, parent, or child, according to a recent survey conducted by Rates.ca. Among the parents who share their credit card with their children, 63% said that managing their children’s purchases is less difficult than it was two years ago.
Sharing a credit card with your child may be a beneficial learning experience, as less than half of Canadians (46%) think that children aged 18 should be independent and in charge of their own credit card, while 34% chose the age of 21, and 15% chose the age of 25. Respondent’s opinions may correlate with their own experiences and lessons regarding credit cards and credit products, as 94% of Canadians rate themselves poor when it comes to financial literacy.
However, many children are no longer solely learning financial habits from their parents. In Ontario, the Ministry of Education has started to implement financial literacy education in the curriculum for grades 4-12.
Teens and Credit Cards
Teaching your child responsible spending may start early with an allowance and then a savings account…
