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Canada’s home insurance under pressure as extreme weather costs rise Feb 21st
Canada’s home insurance safety net is starting to fray at the edges as the costs of extreme weather continue to rise. While competition is still healthy, and the country has so far avoided the coverage deserts growing in the United States, insurers are paring back policies in a variety of ways to .... More »
Understanding Health Care Spending Accounts (HCSAs) Mar 25th
In Canada, Health Care Spending Accounts (HCSAs) have become a popular benefit offered by many employers. These accounts offer employees a flexible, tax-efficient way to manage health-related expenses such as dental, prescription drug and paramedical costs.
Let’s discuss what HCSAs are, how t.... More »
Auto loans for newcomers—questions to ask when buying your first car in Canada Dec 22nd
Buying a car in Canada can be a daunting task for newcomers to the country, facing unique challenges like a lack of credit history, an unfamiliar selection of vehicles, new regulations, and new financing and insurance options. Below, we’ll dive into the important steps, tips and pitfalls to help n.... More »
Losing ground: Why Canada’s grip on U.S. real estate is slipping Oct 30th
In the aftermath of the financial crisis, Canadian pension funds, insurance companies and investment firms began a near-decade-long U.S. commercial real estate spending spree that has been unmatched by any country. Until now.
.... More »
An ode to the Canada Savings Bond + MORE Mar 23rd
In the 1980s you could have put your money into a Canada Savings Bond (CSB) and reasonably expected to walk away with a tidy return a decade later. If you did the same with a CSB today you’d be lucky if your money keeps up with inflation.
It’s of little surprise then that the Federal .... More »
Credit card mistakes millennials are making
– moneysense.ca
It seems that cost-conscious millennials are so down on being in debt that many are avoiding credit cards altogether. But in doing so they’re missing out on the opportunity to start building a credit history, which is crucial for securing loans, renting apartments and getting the best insurance rates. These are the findings from a recent NerdWallet study, which reported that 31% of U.S. adults between the ages of 18 and 34 have never applied for any type of card. What’s more, 28% of these surveyed millennials had credit scores between 300 and 579, far below an optimal 700 that gets you the best lending rate from the banks. Bottom line: Using a credit card responsibly is one of the easiest ways to improve a low credit score.
The post Credit card mistakes millennials are making appeared first on MoneySense.
