Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
BMO stops allowing credit and debit cards for cryptocurrency purchases Mar 16th
TORONTO _ The Bank of Montreal has stopped allowing customers to use its credit cards to buy cryptocurrency such as bitcoin.
The bank says it no longer allows retail consumers to buy cryptocurrencies using Mastercard-branded credit or debit cards.
The bank’s decision follows a move by TD Bank .... More »
Do you invest too much in Canada? Nov 11th
Canada is the second-largest country in the world. But is there such a thing as too much Canada?
Too much natural beauty, no. Too much poutine, never. Too much snow, yep. Too much Justin Bieber, yes. And too much held in Canadian stocks? Definitely yes.
The Canadian stock market represents l.... More »
At the open: TSX rises as banks, energy lead gains + MORE May 16th
S&P, Nasdaq start at record intraday highs
.... More »
How to Improve Your Credit Score – Maxing Out Your Credit Cards Edition Nov 11th
No one sets out to max out their credit cards. Sometimes, people get into this difficult situation because of an unexpected emergency such as losing their job or experiencing an illness. Many people have to rely heavily on credit cards during that time to cover their everyday expenses. For others, .... More »
Canada’s banks should share some mortgage risk. It’s only fair + MORE Aug 16th
Risk-sharing would force the banks to stash away some funds to safeguard against more mortgages in bad times
.... More »
How to achieve financial goals with your spouse
– moneysense.ca
Shannon Jarrett and Marcin Duran are the original odd couple when it comes to reconciling their very different approaches to money management. Despite sharing a home and domestic life together (including two kids) in Hamilton, Ont., they’re by and large living separate financial lives. “We don’t share any banks accounts but we share expenses,” says Shannon. Marcin pays the mortgage and makes all insurance and car payments, while Shannon pays for everything else to run the household. But that’s where the agreements end—and the problems begin. Whether the financial issue is big or small, Shannon and Marcin are often at loggerheads. They need to find some common ground and get their goals aligned.
For Shannon, saving is her largest concern and she wants to see them growing more income inside their RRSPs and TFSAs. “I’ve always put away $200 a month but I can’t get Marcin to do the same,” she says. “He feels I’m just trying to control him.” Marcin, though, thinks their main priority should be debt repayment—in particular, the $169,000 mortgage that remains on their home…
For Shannon, saving is her largest concern and she wants to see them growing more income inside their RRSPs and TFSAs. “I’ve always put away $200 a month but I can’t get Marcin to do the same,” she says. “He feels I’m just trying to control him.” Marcin, though, thinks their main priority should be debt repayment—in particular, the $169,000 mortgage that remains on their home…
