How to go about securing the best policy for your insurance in Canada.
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How to stake Cardano (ADA) in Canada + MORE Jun 12th
Like other cryptocurrencies, ADA, the native coin of the Cardano blockchain, has been in a bear market since October 2021—meaning a recent pattern of price declines. Despite this downturn in crypto prices, Cardano seems to be a strong player among the public blockchains that offer smart contract f.... More »
TFSA contribution room calculator + MORE Mar 4th
Find out your current tax-free savings account (TFSA) contribution limit by using this calculator.
Tax-free savings account is a bit of a misnomer. While you can use it for straightforward savings, think of it more accurately as an investment holding account to store things like exchange-tr.... More »
Uninsured auto insurance 101: What you need to know Dec 9th
Uninsured motorist coverage is used to protect you if you’re involved in an accident with someone who does not have valid insurance, or even if you’re left behind in a hit-and-run scenario.
We know what you’re thinking: Isn’t every vehicle required to have insurance in Canada?
Yes, but the.... More »
When to prioritize debt repayment over saving Nov 7th
In an earlier story, we introduced you to Lindsay Tithecott, a 29-year-old who is trying to pay down debt, build up savings and buy a larger condo. To help her get her finances in tip top shape, we gave her a series of financial challenges, including a rethink of her budget-busting fitness classes. .... More »
Employee Benefits vs Individual Health Insurance Plans + MORE Jan 30th
In this article we examine what the phrase "health insurance" actually means. We first highlight the difference between government-managed healthcare systems and private health insurance. We then compare and contrast the two types of health insurance available to Canadians: employee benefits and ind.... 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…
