How to go about securing the best policy for your insurance in Canada.
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Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
Freeland fires again at Canadian Banks
There are several big-picture looks at the important aspects of the Canadian federal budget .... More »
Insurance Add-Ons You May Want to Consider Purchasing + MORE Oct 3rd
When it comes to purchasing car insurance, going for the cheapest rate can be tempting in order to save money. After all, rates are already high enough as it is.
But you might be surprised what basic things aren’t always included in a base rate. As per Canadian laws, the most basic plans gene.... More »
Compare car insurance quotes from Canadian providers Jun 24th
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Compare car insurance quotes from top providers in Canada
In under five minutes, get a personalized car insurance quote from one of Canada’s top providers—free of charge. Just tap the button to get started.
Get a free quote now* .... More »
Think twice before cancelling auto insurance + MORE Feb 3rd
Q: I’m considering getting rid of one of our personal cars—we have two. It is beyond its years and at the moment we don’t need it and have no real parking space for it. My concern is insurance premiums when I finally do require a car and commit to buying another. We intend on adding me as .... More »
What type of insurance does a home-based business need? May 27th
Q. I am starting up a small business where I will manufacture, market and sell my own products online. I will use a room in my home as an office. What type of insurance do I need?
–Paul
A. Hi Paul. An insurance policy protects you against defined risks. Although I haven’t seen your home insuranc.... More »
Urbancorp reminds us that our investments are at risk
– moneysense.ca
Want to know why our grandparents hid money in their mattress? Because prior to 1967 any money saved was at risk. If a bank failed, those savings were gone. Wiped out. A big, fat zero. For them, it felt safer to tuck the bills into a hidey-hole and hope for the best.
But the feds realized this wasn’t a great strategy if they wanted to grow the nation’s economy. As a result, they created a Crown corporation: the Canadian Deposit Insurance Corporation (CDIC), with a mandate to protect all eligible deposits made by Canadians. (See more on this below under “What CDIC does.”)
Still, the line between what’s a saving and what’s an investment can become blurred—just ask the thousands of disappointed Urbancorp buyers, who watched virtually all their money disappear when the real estate developer declared bankruptcy earlier this year.
While these same buyers are currently fighting to get official representation at the company’s bankruptcy hearing, the question that’s left unanswered is whether a real estate purchase is an investment, a form of saving, or a human right?
What buyers can learn from the Urbancorp collapse »
What CDIC does
As a crown corporation, the CDIC contributes to the stability of the Canadian financial system by covering the potential loss of savings that are deposited at member institutions…
But the feds realized this wasn’t a great strategy if they wanted to grow the nation’s economy. As a result, they created a Crown corporation: the Canadian Deposit Insurance Corporation (CDIC), with a mandate to protect all eligible deposits made by Canadians. (See more on this below under “What CDIC does.”)
Still, the line between what’s a saving and what’s an investment can become blurred—just ask the thousands of disappointed Urbancorp buyers, who watched virtually all their money disappear when the real estate developer declared bankruptcy earlier this year.
While these same buyers are currently fighting to get official representation at the company’s bankruptcy hearing, the question that’s left unanswered is whether a real estate purchase is an investment, a form of saving, or a human right?
What buyers can learn from the Urbancorp collapse »
What CDIC does
As a crown corporation, the CDIC contributes to the stability of the Canadian financial system by covering the potential loss of savings that are deposited at member institutions…
