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Should you hold on to unused RRSP contributions? + MORE Dec 4th
Ask MoneySense
I have $66,000 unused RRSP contributions for the 2023 tax year (unused deductions, not unused contributions).
My plan is to start my RRSP withdrawals in January 2025, and to start claiming the unused deductions on my 2025 taxes, when most likely it will be over $70,000. In 2025, I .... More »
Don’t get taken in by event ticket scams Jun 29th
At long last, the FIFA World Cup has kicked off in cities across North America. If you’re not fazed by single-ticket prices in the four figures, may we offer a word of caution: stalwart footy fans are not the only ones attracted to events like this. So are scam artists.
Cyber-criminals lo.... More »
Key financial habits of self-made millionaires Jul 3rd
Adopting these millionaire habits will help you realize savings almost right away, Lesley-Anne Scorgie writes..... More »
Conservatives accuse Carney of lying about role in Brookfield’s move to New York - The Globe and Mail Feb 26th
Conservatives accuse Carney of lying about role in Brookfield’s move to New York The Globe and MailCarney defends why he has not disclosed financial interests CBC.caConservatives React to Mark Carney’s Debate Performance – February 25, 2025 Cable Public Affairs.... More »
Mortgage broker vs. bank—which will save you more money? Jun 1st
Choosing a mortgage broker or a bank for your home loan will likely influence which mortgage you end up with. On top of that, there are pluses and minuses to both, as we detail in the table below. Before we dive into which may best suit your financial situation, let’s look at the differences betwe.... More »
Best Financial Advice for New Homeowners
– investitwisely.com
After college expenses, choosing to purchase a home of any kind is the second largest expense you are likely to take on. The whole process, while intricate, doesn’t have to be complicated. However, it pays to be prepared. By taking the time to plan now and sticking to that plan, you could save thousands of dollars over the next few decades.Know What You Can Afford (and Buy Less)
Never buy more house than you can afford. Life is unpredictable. One of the first things you should ask is, “How much house can I afford?” It’s better to buy a house that’s the size you need now rather than overextend yourself. Even if you plan to grow your family or expect a promotion soon, not everything may go as planned.
Further, choosing to purchase a smaller home now may allow you to pay it off faster, giving you more equity and more options if you do decide to move sooner rather than later. Spending less on a home can also give you more financial freedom, allowing for more vacations or retirement savings…
