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.
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Canada’s best balance transfer credit cards 2022 Nov 1st
If you carry a balance on a regular credit card, chances are you’re paying around 20% in interest. At that rate, it can become difficult to keep up with the payments and your debt can spike—fast. Moving your credit card debt to a balance transfer credit card can help you pay off the principal mo.... More »
Do you need mortgage life insurance? Sep 22nd
Ask MoneySense
I am a single, 70-year-old with a reasonable mortgage of $115,000. I have no family and no dependants. I find that the life insurance on my mortgage is too expensive. Do I need mortgage life insurance anyway? What for?
—Katerina
What is mortgage life insurance?
I’m glad.... More »
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 »
Making sense of the markets this week: July 31 Jul 30th
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
With earnings season in full swing, there’s a lot to catch up on this week, as we try to make sense of the markets that defy being d.... More »
The best GIC rates in Canada for August 2023 Aug 29th
Investing
The best GIC rates in Canada for August 2023
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
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Hedging against inflation with dividend-paying stocks
– moneysense.ca
Dividend-paying stocks typically don’t get much attention, but that’s changing as investors look for ways to protect their wealth in the face of market turbulence and inflation. Investing in dividend-paying stocks is one proven way to both grow your portfolio and cushion it against loss. That’s because even if markets are bumpy and the underlying share prices of your dividend stocks are down, you still collect dividend income. High-paying dividend stocks can also help preserve purchasing power against rising inflation.
A little context: Investors may not realize it, but dividend stocks already generate more than half their returns, as the majority of companies listed on market indexes pay dividends. In the past, it was largely utilities, telecom companies and banks that issued dividends. Now, tech stocks, retail stocks—all types of companies—issue dividends, so long as they are in a position to do so. This is another reason dividend-paying stocks are attractive: They inspire confidence that a company has a healthy cash flow, revenues and profits…