All about Canadian Savings. Learn the ins and outs and get the latest news.
Latest News
TFSA contribution room calculator + MORE Jan 16th
Find out your current tax-free savings account (TFSA) contribution limit by using this calculator.
TFSA 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-traded funds .... More »
The best five-year variable mortgage rates in Canada + MORE Dec 12th
Mortgages
Canada’s best credit cards for groceries
Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required.
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Best high-interest savings accounts in Canada 2022 + MORE Feb 20th
Generally savings accounts offer very low interest rates. So, if you want to earn on your deposits (rather than simply using your account as a temporary “holding tank” or directing to longer-term saving and investing vehicles), a savings account with a high interest is a no-brainer.
However, whe.... More »
How to invest as a teenager in Canada + MORE Dec 5th
If you’re starting to save the money you’ve received from birthdays, holidays and part-time jobs, you may be wondering how you can invest your savings. An important life lesson for any young person is the habit of saving—so investing for some teenagers can be the next step.
In Canada,.... More »
Climbing Debt, Diminishing Savings Highlighted in CBC Documentary + MORE Mar 8th
When it comes to debt management, many Canadians are struggling to keep up, with their housing situation being a source of stress. That was one of the key takeaways from the latest episode of CBC Television’s The Stats of Life, which focused on Canadian statistics surrounding savings (or lack.... 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…