The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
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5 things to know before the stock market opens Thursday - CNBC Oct 19th
5 things to know before the stock market opens Thursday CNBCThe close: Stocks sharply lower as bond yields rise again, investors assess earnings The Globe and MailStocks Close Lower on Heightened Geopolitical Risks and Soaring Bond Yields BarchartWhy Are Stocks Down .... More »
She's giving her sister a kidney, but didn't know the financial toll - CBC + MORE Jul 13th
She's giving her sister a kidney, but didn't know the financial toll CBC.... More »
Helping your kids buy a home? Why a cash gift may be safer than co-signing Sep 6th
It’s not uncommon for parents to want to help their adult children enter the housing market. For some, that help comes in the form of co-signing for their child’s mortgage, but experts warn that means taking on financial risks they might not understand and could impact their own debt and.... More »
The best GIC rates in Canada for 2025 + MORE Jan 19th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
Sales up, prices down in GTA housing market Oct 6th
Toronto-area home sales rose in September while prices continued to decline, as the city’s real estate board says the market could continue heating up amid ample choice and lower borrowing costs.
The Toronto Regional Real Estate Board said the 5,592 homes sold last month was up 8.5% from Se.... More »
How much credit card debt does the average Canadian have?
– moneysense.ca
As the country re-opens after COVID-related restrictions, Canadians are faced with a worrying financial picture. Many have moved, others are looking to travel, and the cost of living is ballooning with unusual rates of inflation. Meanwhile, the Bank of Canada (BoC) rate hikes designed to curb these forces are adding pressure to those with variable-rate loans and mortgages. Unsurprisingly, many Canadians are using their credit cards to charge their expenses.
How much debt does the average Canadian carry?
The average credit card balance for Canadians in the first quarter of 2023 was $3,909, according to Transunion. And that is up from average monthly credit card spend of almost $2,447 in the third quarter of 2022, which is above the 17.3% from same time in 2021 and up 21.8% in 2019, according to Equifax. And from another report from the Canadian credit bureau, Canadian consumer debt has risen to $2.32 trillion, with an average debt load of approximately $21,183—excluding mortgages…
