Canada has several major banks and many schedule II banks – but with rates and plans all over the map, it’s difficult to know where to bring your business. Our aim is to help you navigate Canada’s banking options to discover which one suits your needs best.
Latest News
The best instant approval credit cards in Canada 2022 Oct 12th
If you’re applying for a credit card, chances are you want it as soon as possible. Unfortunately, you often have to wait several days to see if you were approved, and then wait some more while the card makes its way to you in the mail. The good news is many credit cards now offer instant approval..... More »
RBC and BMO follow Bank of Canada, cutting prime rates + MORE Jan 28th
Royal Bank of Canada, the country's biggest lender, said on Tuesday it would cut its prime lending rate by 15 basis points, becoming the first of Canada's big banks to trim borrowing costs nearly a week after the central bank stunned markets with a rate cut..... More »
Debt loads and soaring house prices a growing concern: Bank of Canada Jun 8th
THE CANADIAN PRESS/Sean Kilpatrick
The Bank of Canada says elevated home prices in Toronto and Vancouver and record levels of household debt have become bigger worries over the past six months. The central bank’s latest biannual review of the Canadian financial system says those two “vulnerabili.... More »
The best credit cards in Canada for 2023 + MORE Sep 15th
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The best credit cards in Canada for 2023
Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required.
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Making sense of the markets this week: March 19, 2023 Mar 17th
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
Why are banks suddenly folding?
The big news of the week was, of course, that the 12th biggest bank in the U.S.A.—Silicon Valley .... More »
6th place: Jin, $70,474
– moneysense.ca
(iStock)Jin Won Choi // 32 // London, Ont.
TFSA: $70,474
Investment strategy: Flexible and opportunistic
You may remember Jin Won Choi, a software developer with a Ph.D in mathematics, from our TFSA contest winners a year ago. Jin came in fifth in 2013 with a TFSA total of $50,876. And even though he now has $20,000 more than last year his ranking has slipped to sixth. “This year the stock markets were much more volatile and I had to do some creative things to boost my returns.”
Although Jin has invested in blue-chip and small-cap stocks, he’s had the most success with micro-caps—those with a market capitalization of $50 to $300 million. But he changed his strategy in 2014. Believing that the bull run of the last five years was due for a correction, Jin bought put options—contracts that allow the holder to sell a specified amount of stock at a set price within a specified period. (Buyers of put options believe the underlying stock will drop in price.) Jin bought put options on several holdings, including iShares S&P/TSX 60 Index Fund (TSX: XIU), which tracks large-cap Canadian stocks, as well as on a couple of banks and energy stocks…
How you can help your local food bank
– canadianliving.com
Nearly 850,000 Canadians rely on food banks every month, according to HungerCount 2014, Food Banks Canada’s report on hunger and food-bank use. Here’s how you can help.
