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The best credit card travel perks in Canada Aug 4th
A lot of attention is given to travel credit card rewards, but what about advertised perks? These might seem like small benefits, but the value of these perks can really add up if you’ve got a great card.
We’ll help you navigate the most useful credit card travel perks and help you decide if .... More »
What is tenant insurance? Feb 20th
Tenant insurance, also known as renters or contents insurance, is one of the costs of adulting that seems to have no payback. But the reality is that you likely can’t afford not to have tenant insurance. The cost of a policy (which can range from $15 to $30 a month) is a small price to pay when yo.... More »
Canada’s best credit cards 2023 Jan 7th
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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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SimplyCash Preferred card from American Express review Jan 16th
If you’re looking for a card that will help you earn cash back on purchases, look no further than the SimplyCash Preferred Card from American Express. With a return of 4% cash back on gas and grocery purchases—and a flat 2% back on all other purchases—it is one of the best credit cards in Can.... More »
Planning to buy your first home? Be ready to jump in when the post-pandemic market picks up Apr 17th
Closing costs, such as land transfer tax, lawyer fees and title insurance, have to be paid on top of the down payment when you take legal possession of your new home, and they add up fast..... More »
Feds propose changes to spread mortgage risks
– moneysense.ca
OTTAWA – The federal government formally launched consultations Friday to explore potential changes that would shift some of the financial risk tied to insured mortgages from the shoulders of taxpayers to lenders, such as the banks.Under Canada’s current system, lenders are able to transfer virtually all of the risk from insured mortgages to insurers, which are indirectly backstopped by taxpayers, the government said.
The Finance Department has been examining the possibility of making such a change for a couple of years and it’s now seeking more input.
Finance Minister Bill Morneau announced the consultations into so-called “lender risk sharing” earlier this month as part of a package of changes related to Canada’s housing market.
.cbR{box-sizing:border-box;display:block;width:100%;margin:1em 0;border:1px solid #bbb;padding:.5em}@media (min-width:480px){.cbR{width:250px;margin:0 0 1em 1em;float:right}}Mortgage insurance changes will impact buyers and banks
The consultations are designed to help Ottawa determine whether having lenders absorb a modest chunk of loan losses on insured-mortgage defaults would help shore up stability in the system…
How to cut your auto insurance costs
– moneysense.ca
In 2013, the Liberal government of Ontario made a promise to bring down car insurance rates. The good news is that premiums in general have come down about 8.5% since then. Still, that doesn’t mean that average car insurance premiums are necessarily low. Earlier this month, Kanetix.ca released research showing that Brampton is the most expensive Ontario city in which to insure a car, with Vaughan coming in as a close second. In fact, 10 of the Top 11 areas where insurance premiums are highest were in the Greater Toronto Area. Brampton had an average insurance premium rate of $2,392 a year for a single, 35-year-old driver with a clean driving record while Vaughn came in at $2,018. (The average Ontario car insurance premium is $1,348). The lowest rates? Sudbury ($1,221), Barrie ($1,366) and Peterborough ($1,054).But MoneySense wanted to know why certain areas charged more for auto insurance. So we talked to Kanetix.ca vice-president Janine White. White says that there are a lot of things that go into determining an area’s car insurance premium but it all comes down to the average claims costs of the area…
Do we really need a will right now?
– moneysense.ca
In our April 2016 issue of MoneySense, we introduced you to Shannon Jarrett, 37, and her partner Marcin Duran, 34. They’re trying to track their money, come up with shared goals and cash in bad habits. Throughout the year we’ll be giving them a financial challenge every month to help them get her finances in tip top shape. Make sure to follow along! Their last challenge had them reading Stop Over-Thinking Your Money!: The Five Simple Rules of Financial Success, by Preet Banerjee..cbR{box-sizing:border-box;display:block;width:100%;margin:1em 0;border:1px solid #bbb;padding:.5em}@media (min-width:480px){.cbR{width:250px;margin:0 0 1em 1em;float:right}}Can one phone call help us get out of debt?
What Shannon had to say
After reading Stop Over-Thinking Your Money!, by Preet Banerjee, a couple of key things came to mind: First, that I really need to look into our life insurance coverage. How much life insurance do we have through work and what does that cover? Is that enough? My thinking is that if our house is paid off (which we aim to do as quickly as possible) then we’ll be okay…
