The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
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Every year, advancements in mobile technology are placing the stock market at the fingertips of Canadian investors. In fact, it’s never been easier to invest on your own. One of the best ways to get started is by opening a discount brokerage account. These do-it-yourself trading accounts provide i.... More »
The best TD credit cards in Canada 2021 May 31st
Before we talk about the best TD credit cards in Canada, let’s talk about TD. Formed through a merger between financial giants Bank of Toronto and The Dominion Bank in 1955, TD is one of Canada’s big five banks. It offers a wide array of financial services including an impressive portfolio of mo.... More »
The best high-interest savings accounts in Canada for 2025 + MORE Oct 14th
Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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The best charities to donate to for impact in Canada for 2023 Nov 8th
“Return on investment.” It’s a phrase many Canadians are familiar with in terms of business decisions and investment portfolios. But it’s not necessarily top of mind when people choose a charity to donate to. And that’s understandable. Canadians support charities for a lot of different rea.... More »
Stock news for investors: Big gains for Canada’s banks in Q1 Feb 27th
Here’s a round-up of news for Canadian investors this week.
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Should You Give Your Teen a Credit Card?
– ratesupermarket.ca
Over one-third of Canadians share a joint credit card with their partner, parent, or child, according to a recent survey conducted by Rates.ca. Among the parents who share their credit card with their children, 63% said that managing their children’s purchases is less difficult than it was two years ago.
Sharing a credit card with your child may be a beneficial learning experience, as less than half of Canadians (46%) think that children aged 18 should be independent and in charge of their own credit card, while 34% chose the age of 21, and 15% chose the age of 25. Respondent’s opinions may correlate with their own experiences and lessons regarding credit cards and credit products, as 94% of Canadians rate themselves poor when it comes to financial literacy.
However, many children are no longer solely learning financial habits from their parents. In Ontario, the Ministry of Education has started to implement financial literacy education in the curriculum for grades 4-12.
Teens and Credit Cards
Teaching your child responsible spending may start early with an allowance and then a savings account…
