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Canada’s best credit cards 2020 Nov 28th
Finding the right credit card could save you hundreds, if not thousands, of dollars a year. Whether you’re looking for lower fees, more rewards or simply valuable perks like travel medical insurance or rental car savings, every dollar counts. If you use your credit card wisely, pay off your balanc.... More »
Tangerine Bank review: Everything you need to know Jun 20th
Tangerine, with its “Forward banking” tagline, is one of the many banking options in Canada. Having a choice is a good thing—but it can be tough to navigate which bank (and its full range of services) is best for you. That’s why, in this complete bank services review, we’re covering all th.... More »
When to consider extra RRIF withdrawals Apr 8th
I am in my 91st year and for my age, in reasonably good health. I drew down a significant extra sum in 2025 from my RRIF. Fortunately, due to some good earlier decisions, my RRIF remains with a very strong market value. I use this drawdown for two purposes: to reinvest in my non-registered accounts.... More »
The scoop: What Canadian investors need to know now + MORE Sep 19th
For those who like surprises, the stock markets have not disappointed in 2020. The S&P 500 surged to new heights despite the economy-clenching COVID-19 pandemic powering around the globe, and individual investors’ participation in trading reached a 10-year high during the first half of this ye.... More »
Should I use retirement savings to pay off credit card debt? + MORE Jun 11th
Ask MoneySense
Should you cash out some of your RRIF monies to pay down credit card debt or take out a loan at a bank or private lending? Thank you.
—Marcia E.
Does it make sense to pay off debt with savings or take out a loan?
Thank you for your question, Marcia. You’ve worked hard to.... More »
3 Reasons Why You Need to Contribute to Your RRSP… Now
– ratesupermarket.ca
Why is everyone always rushing to contribute to RRSPs this time of year? And does it makes financial sense for you to make extra contributions before the March 1 deadline?
This time of year is often referred to as RRSP season, as many of us rush to make contributions before the RRSP contribution deadline on March 1, 2019.
But what does this deadline mean?
The contribution deadline ensures your contributions count towards the 2018 tax year, which will then reduce your overall income tax burden and, more importantly, help you save more for your future.
Please appreciate this outdated meme on RRSPs provided by the RateSupermarket.ca team.
The deadline is important and making a few extra contributions is financially savvy. But if you’re in debt or don’t have the extra cash, it can be hard to justify making that contribute more. Wondering if it makes sense for you to make those extra contributions? Here are a few things to consider.
You can save on your income taxes
When we think about income tax we often think about the dollar amount we are required to pay in federal and provincial tax…
