How to go about securing the best savings strategy in Canada.
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9 Ways To Lower Your Winter Hydro Rates + MORE Dec 16th
Oh the weather outside is frightful and, well, hydro bills are far from delightful.
Especially when coupled with Ontario Hydro’s latest set of rate increases instituted in November, which promise to add about $4 to the average monthly hydro bill.
Sure, cutting back on your energy expenses can.... More »
A good deal in the States can still cost you more + MORE Aug 23rd
Why you should use a U.S. account to build up savings..... More »
The Best No-Fee Rewards Credit Cards For 2019 Nov 9th
Credit card rewards come in many forms. From points to statement credits to cold-hard cash, a good rewards card maximizes on your everyday purchases and ultimately helps you save.
Reward credit cards generally offer different amounts of rebates for particular spending categories (gas, grocery, phar.... More »
How to deal with holiday credit card debt + MORE Jan 4th
The flurry of gift-shopping and overspending is finally over, leaving plenty of people with the dreaded holiday hangover.
Just a couple weeks ago, a CIBC poll showed that Canadians were planning to spend nearly $600 for this season’s holiday shopping. While that figure .... More »
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 »
How to graduate without student debt
– thestar.com
Two young men who finished university without applying for student loans give advice to others on how to cut expenses.6 Financial Goals to Discuss With Your Financial Advisor
– ratesupermarket.ca
Why should you hire a financial advisor? The main reason isn’t just to make you rich (though that would be nice!). A good financial advisor actually offers you a complete picture of your overall financial situation, and can help you create a plan for your future that is fiscally sound.
In crafting a strategy for your money, expect to talk about all aspects of your life. Here are some factors that will be a part of your smart financial goals planning and strategy:
Setting Up Your Savings Toolbox
Planning for your future is not just about saving for retirement. An advisor will make sure you are saving for your senior years through a registered retirement savings plan (RRSP) and possibly a tax-free savings account (TFSA). However, they should also help you set up an emergency fund, deal with paying off your mortgage, plan for renovations and save for your children’s future. Part of a future financial plan also includes insurance. Your advisor may talk about life, disability and other insurance plans that will ensure that you’re not at risk of losing your savings because of something unexpected…
Canadians using their tax refunds to tackle debt
– thestar.com
Savings, day-to-day expenses and home improvement are other priorities for tax refunds, a survey by the Chartered Professional Accountants shows.What You Need To Know About Canada’s Deficit
– ratesupermarket.ca
The preliminary numbers from the March fiscal year end are in for Canada’s deficit, and there’s some good news: it has decreased to $18.3 million, compared to $21.6 million as of last year. It’s an indicator the federal government’s plan to cut the deficit is on track, and it’s good news for the Conservative government, which looks to balance the books by 2015.
A lower deficit is also very impactful for the average Canadian. Let’s break down the numbers and take a look at how the deficit factors into our nation’s economy recovery, and what it means for Canadians.
Breaking Down the Numbers
The Conservative government’s cost cutting plans look to be paying dividends. A decrease in program expenses lead to $3.4 billion in savings. This is largely due to job restructuring in the public sector, as the federal government looks to downsize its bloated workforce. Canada’s excellent credit rating also looks to be paying off; public debt charges are down by $2 billion, as we saved on interest payments our federal debt…
Find the Right Financial Advisor
– ratesupermarket.ca
Hey you – got a money question? Tweet us your Q with the hashtag #MoneyWise @RateSupermarket, and we’ll help point you in the right direction. You might also see your inquiry turned into a blog post! What can we say – we’re inspired by our readers!
Saving for retirement, paying down your mortgage, preparing for your child’s education; it’s easy to be overwhelmed by life’s financial goals. When it comes to your hard earned money, sometimes it’s in your best interest to ask for a helping hand.
A financial advisor can set your savings on the right track, introduce you to investment opportunities, and help you identify the best strategy for your money. Check out our guide to picking the right pro.
Do You Need a Financial Advisor?
It’s time to come clean: are you in need of some professional help? Even if your savings or investments are small, working with a financial advisor can effectively grow your money.
Read on to learn more about the benefits of seeking financial advice, and understanding your financial advisor’s fee structure…
