Personal Savings getting you down? There are always smart ways to increase your savings.
Latest News
Canada’s Best Credit Cards 2019 + MORE Mar 1st
It goes without saying that finding the right credit card could save you hundreds if not thousands of dollars a year. Whether you’re looking for lower fees, higher net reward points or simply valuable perks like travel medical insurance or rental car savings, every dollar counts. If you use your c.... More »
This 31-year-old is about to finish her PhD. Making $60,000 a year, she’s hoping to buy a bigger place and have a child. How can she start? + MORE Oct 10th
A dedicated and frugal saver, U of T graduate student Cecily has amassed significant savings along with substantial equity in a downtown condo. Her goal is to stay on track financially as her life moves to a new stage..... More »
Should you max out your RRSP before converting it to a RRIF? Apr 30th
Ask MoneySense
My husband and I retired last September. We have moved into a condo and are now travelling. Enjoying life but I’m concerned about his RRIF. My husband turns 71 in June 2025. So, I understand we can contribute to his RRSP for 2025 before he turns 71 and claim the contribution for the.... More »
Mortgage or retirement savings? Where to get the most bang for your extra bucks + MORE May 8th
Not sure how to make a savings plan? Read on...
This Toronto millennial makes $60,000. He wants to organize his finances and build his savings. How can he start? - thestar.com“Personal finance can be complicated even though my life seems rather uncomplicated,” Michael said.Continue Readin.... More »
The tax implications of transferring a stock between spouses + MORE May 15th
My wife and I are joint owners WROS (with right of survivorship) of a stock we have owned for many years. If the ownership of the stock is changed to just her name, individually, no death involved, does her cost basis of the shares remain the same as it was when it was in our joint names?—Joe
T.... More »
4 Things You Should Do Now So You Can Save on Taxes in the New Year
– ratesupermarket.ca
With all the hustle and bustle that’s synonymous with this time of year, it’s important to also take a closer look at your personal finances before heading into 2019 – and we’re not talking about holiday budgets. Yes, most Canadians are busy with Christmas shopping and festivities, but soon enough, it will be time to file our taxes again. So make sure your money matters are in order and you’re not leaving any money on the table in 2018 with these tips…
Sell your losing investments
If you want to claim capital loss on your 2018 tax return, you have to sell any losing investments by December 31. Capital loss is loss that impedes on a capital asset. This asset could be an investment, like stocks or bonds or real estate. But you cannot claim capital loss until you sell that asset. If you are confident that selling your losing asset is the right choice, and it is held outside of a registered account, do this before the last day of 2018 so you can offset some of the income tax you pay…
