How to go about securing the best savings strategy in Canada.
Latest News
Why too much cash hurts investors + MORE Nov 2nd
You spent decades scrimping and saving to build up your retirement nest egg. And yet a lot of Canadians let inflation eat into their precious portfolio by leaving too much of it exposed, in cash.
Sure, there is a role for some cash. You’ll want to keep some accessible for household emergencies. A.... More »
25 timeless personal finance tips from MoneySense + MORE Jan 30th
To help celebrate MoneySense’s 25th anniversary, we are republishing (and updating) an article from the June 2014. The editors collected some timeless financial advice and money tips from the archives. Editor- and expert-approved, and fit for 2023 and beyond.
1. Pay yourself first
.... More »
A Fresh Financial Start + MORE Apr 28th
It’s been a week of change for your finances, from new savings options announced in the government’s budget to a wave of price reductions for auto insurance customers. Will your piggy bank come out on top? Read on to see how these updates will affect your bottom line.
INFOGRAPHIC: The Perfect P.... More »
Capital gains tax strategies change under new tax rules + MORE Oct 26th
For most Canadians, the new requirement to report the sale of a principal residence will be nothing more than a compliance exercise—but one shadowed by the threat of unrestricted audits and sizeable penalties. To help you negotiate through the new reporting rules, please see the 8 question.... More »
2022 Income Tax Guide for Canadians: Deadlines, tax tips and more + MORE Feb 27th
It’s been quite a year for numbers, hasn’t it? From rising interest rates to steep stock market drops, finances have been headline news throughout 2022. It’s almost enough to make you forget about tax season. But with the tax deadline approaching, you have a few reminders (see the dates below).... More »
Outsmart the salad bar
– moneysense.ca
var image_max_height = “500″;var imagesArray = [{“id”:80064,”mlpId”:”1598″,”src”:”http://www.moneysense.ca/wp-content/uploads/2014/03/saladbar_med21.jpg”,”width”:506,”height”:337,”medSrc”:”http://www.moneysense.ca/wp-content/uploads/2014/03/saladbar_med21-150×150.jpg”,”medWidth”:150,”medHeight”:150,”smallSrc”:”http://www.moneysense.ca/wp-content/uploads/2014/03/saladbar_med21-150×150.jpg”,”smallWidth”:150,”smallHeight”:150,”tagSlugs”:””,”tagNames”:””,”title”:”Load up for later”,”caption”:”iStock”,”loaded”:false,”description”:”Itu2019s the curse of the salad baru2014you load up on tasty fixings, only to be shocked at the sky-high price when you set your items on the scale. But you can turn the salad bar into a savings vehicle if you know how to work the system. The key is to load up only on the highest-value ingredientsu2014and instead of eating them immediately, save them for later.We visited several salad bars at grocery stores in Toronto to find the best deals…
Expect Slower Growth: Highlights From Stephen Poloz Speech
– ratesupermarket.ca
While Finance Minister Jim Flaherty’s unexpected decision to resign stole the headlines yesterday, the bigger story may turn out to be the Bank of Canada cautioning Canadians to get used to slower growth, largely as a result of an aging population.
Baby boomers, far and away Canada’s largest demographic group, are retiring – or at least gearing up for it. And while putting more money aside for their future makes sense, this saving rather than spending mentality will have clear economic implications, Bank of Canada Governor Stephen Poloz told the Halifax Chamber of Commerce on Tuesday.
Too many boomers in the developed world have been putting their money into real estate compared with more productive uses such as business investment that can stimulate the economy. And Canada, it seems, is no different.
Real Estate Partiality Slows Growth
“When a large swath of the population is making similar decisions, the impact on the broader economy can be significant,” Poloz explained. “Savings that fund infrastructure and business investment are ‘being put to work,’ which can help improve productivity, while savings that go into housing are seen as contributing less to productive potential…
A Look At Shadow Banking In China
– ratesupermarket.ca
The term Shadow Banking can evoke ideas of an elusive, secretive method for money to be exchanged. It actually is the opposite and really represents a large part of global banking.
Shadow banking is a method used to provide money to businesses that are unable to get a loan from a traditional bank.
Wall Street Journalist Tony James calls it “market-based financing” and adds it “is simply the provision of capital by loans or investments to some companies by other companies that are not banks.”
Shadow banking is huge in China – and there’s concern that it is growing at an unsustainable rate, with implications that will be felt around the globe.
How Does Shadow Banking Work?
Shadow banking links people who need money to those who have it, with the rate of the loan determined by market factors and the risk posed by the client.
These loans are usually offered at a higher interest rate and to individuals who don’t qualify with a formal bank. The International Monetary Fund is not a supporter of shadow banking stating, “Shadow banking, in fact, symbolizes one of the many failings of the financial system leading up to the global crisis…
