Personal Savings getting you down? There are always smart ways to increase your savings.
Latest News
Ottawa posts $941-million deficit for October + MORE Dec 23rd
OTTAWA – The Canadian government ran a $941-million deficit for October compared with a $3.21-billion deficit in the same month last year.
Ottawa’s fiscal monitor says the improvement came as revenue increased 11.1 per cent, boosted by higher personal income tax and Goods and Services Ta.... More »
OAS payment dates in 2025, and more to know about Old Age Security + MORE Apr 2nd
If you’re approaching or planning for retirement, you may have questions about Old Age Security (OAS) benefits, like: Do I need to apply for OAS? How much will I receive in OAS? When do OAS payments go out? We cover these questions and more below. But first, here’s a quick overview of how OAS wo.... More »
Save up to 30% on groceries with new coupon app + MORE Sep 29th
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Want a better shopping experience? Consider Digital flyer’s updated Flipp app.
The free shopping app lets consumers scroll through digital flyers to find items on sale at local re.... More »
How to juggle RRSPs, TFSAs, RESPs and a mortgage + MORE Apr 6th
It’s funny how having a few kids can upend even the best laid financial plans. That’s precisely what Sammu and Mandy Dhaliwall are discovering as they deal with the competing challenges of raising children and still finding a way to pay off the mortgage and save for the future. It’s a juggling.... More »
In Your Corner: Interest rates are near an all-time low — where can you get the best return on your savings? + MORE May 1st
These are the best high-interest (well, relatively high) savings accounts out there right now..... More »
More than a third of Americans reported to collection agencies for unpaid bills and debts
– canadianbusiness.com
WASHINGTON – A study by the Urban Institute shows that more than 35 per cent of Americans have debts and unpaid bills that have been reported to collection agencies.
These consumers fall behind on credit cards or hospital bills. Their mortgages, auto loans or student debt pile up, unpaid. Even past-due gym membership fees or cellphone contracts can end up with a collection agency, potentially hurting credit scores and job prospects.
The study by the Washington-based think-tank released Tuesday points to a disturbing trend: The share of Americans in collections has remained relatively constant, even as the country as a whole has whittled down the size of its credit card debt since the official end of the Great Recession in the middle of 2009.
The post More than a third of Americans reported to collection agencies for unpaid bills and debts appeared first on Canadian Business.
These consumers fall behind on credit cards or hospital bills. Their mortgages, auto loans or student debt pile up, unpaid. Even past-due gym membership fees or cellphone contracts can end up with a collection agency, potentially hurting credit scores and job prospects.
The study by the Washington-based think-tank released Tuesday points to a disturbing trend: The share of Americans in collections has remained relatively constant, even as the country as a whole has whittled down the size of its credit card debt since the official end of the Great Recession in the middle of 2009.
The post More than a third of Americans reported to collection agencies for unpaid bills and debts appeared first on Canadian Business.
Why I Switched Banks for my TFSA and Home Insurance
– ratesupermarket.ca
Switching banks can be a pain – but in my experience, it’s often worth the effort. In fact, I’ve had the pleasure of changing financial institutions a few times over my lifetime. Most recently, I moved my Tax-Free Savings Account (TFSA) and my home insurance to new lenders.
There were a few reasons why I decided to jump ship – here’s what I learned from the experience.
Not Taking Low-Earning Interest for an Answer
Originally, I housed my TFSA with Ally Bank – and I was a big fan. They offered competitive rates for savings accounts and TFSAs (one of the highest in Canada at 1.8 per cent), had great customer service and their TV commercials were hilarious. When I heard RBC had acquired Ally Bank my response was lukewarm; I was afraid RBC would change Ally Bank – and my worries were well founded, as they went a step further and shut it down entirely!
As a bank account holder I was given the choice of transferring my money to RBC’s low-interest savings account (offering 1…
There were a few reasons why I decided to jump ship – here’s what I learned from the experience.
Not Taking Low-Earning Interest for an Answer
Originally, I housed my TFSA with Ally Bank – and I was a big fan. They offered competitive rates for savings accounts and TFSAs (one of the highest in Canada at 1.8 per cent), had great customer service and their TV commercials were hilarious. When I heard RBC had acquired Ally Bank my response was lukewarm; I was afraid RBC would change Ally Bank – and my worries were well founded, as they went a step further and shut it down entirely!
As a bank account holder I was given the choice of transferring my money to RBC’s low-interest savings account (offering 1…
Take Control of Your Cash
– ratesupermarket.ca
They say knowledge is power – and that’s especially true when it comes to your finances. A healthy credit score, solid assets and everyday frugal know-how can pay off in spades… so, are you as informed as you should be on the state of your money?
This week’s MoneyWise is all about taking control, whether you’re whipping your credit score into shape or shaving dollars off your grocery bill. Read on to get caught up.
Applying for a Mortgage? How to Improve Your Credit Score Now
Planning to enter the housing market? Even if your home-buying dreams are six months to a year off, you need to act now to ensure you’re in tip-top shape to apply for a mortgage. That means looking into – and fixing – any red flags that may be lingering on your credit score. Read on to learn more about what affects your score, and how to take action.
Read Jaclyn’s Blog | How to Improve Your Credit Score Now
Why I Switched Banks for my TFSA and Home Insurance
When Ally Bank was purchased and shut down by RBC last year, Sean Cooper faced a choice – should he house his tax -free savings account with the acquiring lender (and take a resulting cut to his interest earnings), or should he shop around for a better deal? Despite the hassle of moving his money, he chose the latter…
This week’s MoneyWise is all about taking control, whether you’re whipping your credit score into shape or shaving dollars off your grocery bill. Read on to get caught up.
Applying for a Mortgage? How to Improve Your Credit Score Now
Planning to enter the housing market? Even if your home-buying dreams are six months to a year off, you need to act now to ensure you’re in tip-top shape to apply for a mortgage. That means looking into – and fixing – any red flags that may be lingering on your credit score. Read on to learn more about what affects your score, and how to take action.
Read Jaclyn’s Blog | How to Improve Your Credit Score Now
Why I Switched Banks for my TFSA and Home Insurance
When Ally Bank was purchased and shut down by RBC last year, Sean Cooper faced a choice – should he house his tax -free savings account with the acquiring lender (and take a resulting cut to his interest earnings), or should he shop around for a better deal? Despite the hassle of moving his money, he chose the latter…
How not to prepare for retirement
– moneysense.ca
Despite the steady flow of retirement savings crisis headlines in recent years, it seems many Canadian couples haven’t even discussed the topic with their significant others, let alone started a savings regime.Last week, RBC reported that 68% of not-yet-retired Canadians 50 or older who participated in its annual retirement poll have yet to discuss their post-career lives with their partners. Eighty-six per cent are reluctant to discuss health issues, 81% don’t want to raise the topic of what happens if one of them dies sooner than anticipated and two-thirds haven’t discussed what they will do together in retirement. And astonishingly, only 36% have discussed how to finance retirement and where they would live once it occurred.
Retirement preparedness is no better in the United States. Thirty per cent of American workers have less than US$1,000 in savings and investments while three-in-four have less than US$30,000 saved in their retirement accounts, according to data from 2012…
Would You Switch Banks? Take the Survey to WIN $500!
– ratesupermarket.ca
In the world of personal finance, loyalty doesn’t always pay off. Many Canadians have banked with their primary lender for years, but may not be getting the best interest rates, fees or savings from their products or services. Would you make the switch? We want to hear from you!
Share your take in the survey below – and you’ll be automatically entered to WIN a $500 cash grand prize!
Share your take in the survey below – and you’ll be automatically entered to WIN a $500 cash grand prize!
PLUS: Share your results on Facebook and Twitter for even more chances to WIN!
Hurry – this survey is open until Friday, August 8!
The post Would You Switch Banks? Take the Survey to WIN $500! appeared first on RateSupermarket.ca Blog.
