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Top 5 questions about family RESPs + MORE Dec 4th
If you’re saving up for a child’s post-secondary education, a registered education savings plan (RESP) can’t be beat as a savings tool. No other plan or account in Canada will give you access to thousands of dollars in government grants—free money for your kid’s future tuition and other ed.... More »
Pay Attention to Your RRSP Fees, and How You Pay Them + MORE Mar 14th
No one likes to pay fees, but the rate you pay for your investments and how you pay them can be especially troublesome. Making the right decision for your portfolio can be the difference in how much money you earn over the long haul.
When it comes to your Registered Retirement Savings Plans (RRSPs).... More »
Mortgage or retirement savings? Where to get the most bang for your extra bucks + MORE May 8th
Not sure how to make a savings plan? Read on...
This Toronto millennial makes $60,000. He wants to organize his finances and build his savings. How can he start? - thestar.com“Personal finance can be complicated even though my life seems rather uncomplicated,” Michael said.Continue Readin.... More »
When to consider extra RRIF withdrawals Apr 8th
I am in my 91st year and for my age, in reasonably good health. I drew down a significant extra sum in 2025 from my RRIF. Fortunately, due to some good earlier decisions, my RRIF remains with a very strong market value. I use this drawdown for two purposes: to reinvest in my non-registered accounts.... More »
Eight solid alternatives to the Capital One Costco Mastercard for Canadians + MORE Jun 6th
Costco wasn’t the world’s first retail warehouse club, but in the nearly 35 years since opening in Canada, it’s become a staple shopping destination for families and groups who want deep discounts on bulk buys. The way that Costco works is that it relies on membership—you can’t walk into a.... More »
How living longer can hurt your retirement planning
– thestar.com
We’re living two years longer on average, according to new statistics. Here’s how to use that information to make sure you don’t outlive your savings.The story on long-term auto loans
– moneysense.ca
Q: “Is it really so bad to get a seven- or eight-year auto loan, given that interest rates are so low?”
—Melanie Lacroix, Toronto
A: Low interest rates—as low as 0% for 84 months—have made it possible to extend the length of car payments to unforeseen lengths. Consumer finance expert Eric Brassard says at interest rates below 3% you shouldn’t worry about the term of a loan—but you should invest the savings from the lower monthly payments instead of spending it on something else! One concern with long auto loans is if you decide to trade the vehicle early, say in the fifth or sixth year, you will owe more money than the market value of your vehicle. That’s called being “upside down” in the car business, and can begin a costly cycle of financing the unpaid balance on the purchase of your next vehicle.
George Iny is the president of the Automobile Protection Association.Send him your automotive questions at ask@moneysense.ca
The post The story on long-term auto loans appeared first on MoneySense.
Pro Post: How to Make Your Family Budget Work!
– ratesupermarket.ca
Trying to cut corners on your household spending? Trimming your finances should be a full-family affair. Desiree Fawn, owner of SoFawned.com, shares her top tips for family-wide savings in this special guest post.
How To Make Your Family Budget Work!
We’ve all sat down at one time or another to draft out some sort of a budget for our family, right? We always have fantastic intentions as we put together lists of our expenses and income, and at the end of it we feel triumphant, eager, and absolutely certain that we’re going to make it work. However, life gets in the way: you forget to document a few expenses, you overspend, your spouse isn’t 100 per cent sure how to work within the budget and pretty soon you’re back to square one – frustrated with your family finances and wondering what went wrong.
A budget is a lot like a diet. You can have the best intentions to follow it and stick it out, but it only works if you ACTUALLY do it. Seems simple, but it can be tricky! Today I’m going to share a few tips on making your family budget work for you… and your family, of course!
Keep It Simple
Honestly…
How living longer can hurt your retirement planning
– thestar.com
We’re living two years longer on average, according to new statistics. Here’s how to use that information to make sure you don’t outlive your savings.
