Not sure how to make a savings plan? Read on…
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Payments for the Canada Workers Benefit arriving sooner—find out why + MORE Jul 31st
If you receive the Canada Workers Benefit (CWB), you’ll notice a change to this federal tax credit as of this week, namely that you’ll get the money sooner. In the past, CWB recipients claimed the benefit for a certain year when filing their income tax return—for example, claiming the CWB for .... More »
The best high-interest savings accounts in Canada for 2025 + MORE Feb 4th
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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2020 Income Tax: What you can’t—and can—claim for your work-from-home office during the COVID-19 pandemic Dec 5th
You furnished a functional home office, you’ve got face masks ready by the door for when you need to run an errand, and you bought sanitizer (so many bottles of sanitizer). You’ve done your part to stay home and help flatten the coronavirus curve. The question now is: Can you write off working f.... More »
The best RRSP investments 2022 + MORE Jun 26th
A registered retirement savings plan (RRSP) is an investment that is registered with the Canadian federal government. RRSPs are often described as being “tax-advantaged.” That means you don’t pay income tax on the amount you are contributing to an RRSP, in the year you earn that contribution. .... More »
A wish list for Carney’s fall budget + MORE Oct 22nd
Statistics Canada’s midsummer report on Canadians’ disposable income showed an increase across all income quintiles in the first quarter of 2025, by a healthy average of 6% to 7% for the highest earners and 3.2% for the lowest. That was good news; the increases were above the inflation rate of 2.... More »
RESP investing for busy parents
– moneysense.ca
Saving for university isn’t always top of mind when you’re a busy new parent, knee-deep in diapers. Add the steep cost of daycare along with the stress of trying to juggle work and toddlerhood, and setting aside funds for your child’s post-secondary education can feel like an insurmountable task parents have neither time nor money for. And, so, it gets put off. According to an August 2020 report from Statistics Canada, 50% of all post-secondary students graduate with a median debt of $17,500.
Faced with the economic uncertainty brought about by the COVID-19 pandemic, longer-term financial planning may not feel like a priority for some families. But the truth is that putting a plan in place for your child’s post-secondary education is more important than ever now; with the end of the pandemic still uncertain, it’s a way to start getting ahead of future uncertainty. The good news is that CST Spark makes setting up a Registered Education Savings Plan (RESP) a snap. Parents can control exactly how much or how little they want to contribute at any given time…
Faced with the economic uncertainty brought about by the COVID-19 pandemic, longer-term financial planning may not feel like a priority for some families. But the truth is that putting a plan in place for your child’s post-secondary education is more important than ever now; with the end of the pandemic still uncertain, it’s a way to start getting ahead of future uncertainty. The good news is that CST Spark makes setting up a Registered Education Savings Plan (RESP) a snap. Parents can control exactly how much or how little they want to contribute at any given time…
The best banks in Canada
– moneysense.ca
Most Canadians are aware of the Big Five banks: RBC, TD, Scotiabank, BMO and CIBC. And some may even know that occasionally National Bank of Canada sneaks in and expands that list to six. But even with these accounted for, there are dozens of banks in this country, each offering its own suite of personal banking products and services. Finding the “best” is tricky, especially because it depends on the individual’s needs. Nonetheless, there are some standouts. In this article, we take a look at customer offerings from some of the best, so you can decide which works for your personal banking needs.
Summary
Best best banks in Canada
Scotiabank — Best big bank
Tangerine — Best for no-fee banking
EQ Bank — Best for everyday savings
PC Financial — Honourable mention
The best big bank for everyday banking: Scotiabank
Scotiabank was founded in 1832 and has since grown its assets to more than $850 billion, which puts it in the number three spot among the Big Five by asset size…
How to make your retirement savings go farther and last longer
– moneysense.ca
If you are like most Canadians, the investment choices you make during your working years may have a significant impact on your retirement. But the importance of smart investing doesn’t end when you retire. In fact, post-retirement investing can have an even larger impact on your retirement well-being. There are two reasons why.First, retirements are much longer now. Many Canadians are living well into their late 80s and 90s. At the same time, many are retiring, semi-retiring or switching to less remunerative pursuits earlier. So, those leaving full time work at age 60 or 65 must consider the potential for a retirement of 30 years or more. As a result, many will be investing for a longer time period after their retirement date than during their working years.
Second, there is more money at stake. Hopefully your nest egg will grow as you approach retirement (assuming decent market conditions). Also, at some point you may receive a large cash infusion from an inheritance, from downsizing your residence, or selling a business…
