How to go about securing the best savings strategy in Canada.
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RESP investing for busy parents + MORE Oct 17th
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 insurmountabl.... More »
The one inflation tool you need for your finances + MORE Feb 6th
If you don’t have a high-interest savings account (HISA), now is a good time to consider opening one. Why? HISAs pay more interest than regular savings accounts, and rates are particularly high right now. The amount you can earn on your deposited money may help offset rising inflation. And, last b.... More »
Shocking claims: Four outrageous income tax deductions + MORE Apr 5th
For most Canadians, income tax season is an opportunity to think outside the box and test the limits of what can be claimed. Take a look at some of the more daring tax claims Canadians have made over the years..... More »
Should you max out your RRSP before converting it to a RRIF? Apr 30th
Ask MoneySense
My husband and I retired last September. We have moved into a condo and are now travelling. Enjoying life but I’m concerned about his RRIF. My husband turns 71 in June 2025. So, I understand we can contribute to his RRSP for 2025 before he turns 71 and claim the contribution for the.... More »
Business Highlights + MORE Aug 25th
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Despite stock fall, financial health of many is still solid
WASHINGTON (AP) — Many Americans have just absorbed a financial beating — at least as measured by their stock holdings. It’s the kind of blow that can feed a sense of helplessness about retirement, college savings and higher-t.... More »
Ontario vote could have big impact on students
– macleans.ca
Students eat breakfast at the Howard Ferguson Dining Hall at the University of Toronto (Photograph by Jessica Darmanin)The Ontario PC party under Tim Hudak says that, if it wins the election on June 12, it will ditch the 30% Off Ontario Tuition grant (yes, that’s what it’s called) that currently reduces the cost for students from low- and middle-income families by $1,780 annually for full-time undergraduate programs, and by $820 for college programs.
Kathleen Wynne’s Liberal party, which introduced the rebate two years ago at a cost of more than $300 million per year, would keep it, despite warnings that Ontario’s spending is out of control.
The New Democrats, led by Andrea Horwath, would keep the grant, freeze tuition ($7,259 on average for undergraduates without discounts) and make student loans interest-free, at an estimated added cost of $275 million annually by 2017-18.
A change in the price isn’t the only way a new government could affect students.
The PC platform, for example, also promises an expanded role for colleges…
4 Essential Mortgage Features To Ask For
– ratesupermarket.ca
Hunting for the best interest rate on your mortgage? Congratulations – by shopping around you’re already ahead of the home-buyer pack, and likely to score a great deal.
It’s proven that exploring your mortgage options equal better savings in the long run – and those who are unquestionably loyal to their financial institutions (called positive bank bias), end up paying more than those who look for a better rate. A Bank of Canada study found that those who don’t compare their mortgage rate pay a premium of between $759 and $1,617 on their home financing.
It’s a fact we know resonates with our own customers; in a recent poll we conducted on mortgage rate motivation, 50.8 per cent identified the lowest rate as the best mortgage feature available.
While shaving even a few basis points off your rate can save thousands over the long run (check out this eye-opening savings breakdown!), it shouldn’t be the only motivational factor for homebuyers. The best mortgage rate is one that fits your specific buying and homeownership needs…
Know Your Real Estate Rights
– ratesupermarket.ca
The Spring (nearly Summer!) home buying season just keeps getting hotter – lenders continued to make waves with discounted mortgage rate offers this week, with Scotiabank the latest FI to jump into the fray with a limited-time jaw dropper. Should you make a move? We’ve got the scoop on all the features, restrictions and savings – be sure to check out our coverage!
In other mortgage news, there’s an alarming trend of buyers ditching their offer conditions, just to keep up in the frothy market. It’s a risky tactic – read on to learn why!
Scotiabank Cuts 5-Year Fixed Mortgage Rate to 2.97%
Scotia has knocked BMO off the pedestal of lowest-priced big-bank mortgage lender, introducing a limited-time 2.97 per cent five-year fixed mortgage rate. Available until June 7, this rate offers buyers 15% prepayment privileges, and is available to both conventional and high-ratio buyers. How much more would you really save with a rate this low? We crunch the numbers!
Read Penelope’s Blog | Scotiabank Cuts 5-Year Fixed Mortgage Rate to 2…
