How to invest as a teenager in Canada + MORE Aug 13th

Personal Savings getting you down? There are always smart ways to increase your savings.

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Can you make RRSP contributions after age 71? + MORE Apr 23rd

Ask MoneySense My CRA RRSP deduction limit shows I have contribution room of $25,051. But my wife and I have RRIF accounts as we’ve already turned 71. Should I ignore this RRSP contribution limit? —Bob Your annual notice of assessment (NOA) and your online Canada Revenue Agency (CRA) My A.... More »

Should you pay your tax instalment payments? + MORE May 13th

If you generally owe when you file your tax return, you are probably accustomed to paying quarterly income tax instalments. These are requests to pay some of your estimated tax for the current tax year in advance, even though it is not due until the following April. Everywhere but Québec, the tr.... More »

Stock news for investors: Cineplex and Aritzia post strong results despite industry headwinds + MORE Oct 15th

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Should you take extra RRIF withdrawals to increase your estate? + MORE Nov 26th

Ask MoneySense I have a RRIF that is worth approximately $250,000 at the moment. My two children are the beneficiaries. Obviously, I am hoping to somehow reduce any tax on this RRIF income when I die. Is my taking more out of the RRIF and paying the tax each year the best way to do this? Do you have.... More »

The best high-interest savings accounts in Canada for 2025 Jul 9th

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. Advertisement Why trust us MoneySense is an.... More »

How to invest as a teenager in Canada

– moneysense.ca

If you’re starting to save the money you’ve received from birthdays, holidays and part-time jobs, you may be wondering how you can invest your savings. An important life lesson for any young person is the habit of saving—so, investing those savings for some teenagers can be the next step.

In Canada, many provinces have upped their personal finance curriculum content for elementary and high school since I was a kid. Social media also has a lot more information about money and investing, as well as trending content about spending money as well. One word of caution: There may be good non-professional advice out there on social media, but some of it is downright bad. Get qualified advice before making any decisions, and you could even take a free investing or personal finance course.

How to start saving as a teen (or younger, or older for that matter)

A minor —under the age of 18 or 19, depending on the province or territory—will generally need a parent or guardian to be listed on an account as well…

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The best high-interest savings accounts in Canada for 2024

– moneysense.ca

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The best high-interest savings accounts in Canada for 2024
Here are the accounts offering the highest interest rates and lowest fees.

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