The “Big Five” Canadian banks offer credit cards and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Did you know that there are many other options?
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How to workout for cheap in Canada + MORE Jan 11th
When Jessica Moorhouse was in her 20s, her fitness routine was guided by workout videotapes borrowed from her father and a trusty pair of running shoes she used to circle her block.
“Sometimes you have to get creative when the money is not there,” said the Toronto-based personal finance exper.... More »
Porter Airlines credit cards will be issued by BMO – Join the wait list and earn up to 10,000 VIPorter points + MORE Jan 29th
Porter Airlines co-brand credit cards are one step closer to reality with the announcement that the cards will be issued by BMO. The BMO VIPorter Mastercard suite of cards will become available to Canadians in spring 2025. Details of the card offerings should be provided closer to the launch date..... More »
Starbucks Sip-Tember to Remember offers bonus Aeroplan points + a chance to win up to 100,000 points + MORE Sep 7th
Air Canada Aeroplan and Starbucks have brought back the Sip-Tember to Remember promotion to earn bonus points on Starbucks purchases and a chance to win Aeroplan points. The contest consists of a 100,000 Aeroplan Points grand prize and four weekly prizes of 25,000 Aeroplan points. During the promoti.... More »
TFSA contribution room calculator Dec 11th
Tax-free savings accounts (TFSAs) are one of the most popular tools for retirement savings. Since you contribute funds that you’ve already paid taxes on, you’ll enjoy tax-free growth. However, the government places limitations on how much you can contribute every year and overall. This is known .... More »
Tax write-offs that Canadians often get wrong Apr 14th
I come across frequent questions from taxpayers about expenses they think they can claim as a tax deduction or credit. Often, they cannot be claimed, or there are strict criteria that apply.
Safety deposit box
Back in the olden days, investors sometimes kept stock certificates in their safety .... More »
Ask MoneySense
I am in B.C., Canada. I moved my LIRA into a LIF two years ago. I have taken the maximum annual withdrawals for each year. I thought it’d be smart to start taking it. How can I get more out of it? I need the funds to help deal with bill payments. All my monthly income is going to a mortgage now, and I have no extra money for anything else. I am trying to save my credit rating and cannot use credit anymore. Can it be transferred back into something that I can withdraw? Hardship clauses do not apply to me, but that does not mean I am not in trouble. I wish I had not done it. I have put myself in a terrible spot. This LIF is not my only income for retirement. I have another pension and full CPP and OAS. Any advice you have? I would greatly appreciate it.
I am in B.C., Canada. I moved my LIRA into a LIF two years ago. I have taken the maximum annual withdrawals for each year. I thought it’d be smart to start taking it. How can I get more out of it? I need the funds to help deal with bill payments. All my monthly income is going to a mortgage now, and I have no extra money for anything else. I am trying to save my credit rating and cannot use credit anymore. Can it be transferred back into something that I can withdraw? Hardship clauses do not apply to me, but that does not mean I am not in trouble. I wish I had not done it. I have put myself in a terrible spot. This LIF is not my only income for retirement. I have another pension and full CPP and OAS. Any advice you have? I would greatly appreciate it.
—CM
Reversing the LIF
CM, if you’re taking the maximum annual withdrawals from your life income fund (LIF), then it’s unlikely you will be able to take any additional money from your LIF…
KOHO Prepaid Mastercard – Extra plan earn rates devalued
– RewardsCanada.ca
Next up in the ever continuing rewards devaluation race is KOHO. As today, the issuer of prepaid Mastercards has lowered the earn rates on the popular ‘Extra’ plan option for their cards. Up until April 1st, 2024, the Extra Plan offered 2% cash back on groceries, transportation, eating and drinking plus 0.5% cash […]
The post KOHO Prepaid Mastercard – Extra plan earn rates devalued appeared first on Rewards Canada.
The post KOHO Prepaid Mastercard – Extra plan earn rates devalued appeared first on Rewards Canada.
