There are plenty of bank savings account options in Canada! Stay on top of the best plans right here.
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The Best No-Fee Rewards Credit Cards For 2019 + MORE May 17th
Credit card rewards come in many forms. From points to statement credits to cold-hard cash, a good rewards card maximizes on your everyday purchases and ultimately helps you save.
Reward credit cards generally offer different amounts of rebates for particular spending categories (gas, grocery, phar.... More »
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 »
Advice for cash-strapped renters and landlords during COVID-19 + MORE May 16th
When the COVID-19 pandemic swept across North America in early 2020, it created a wave of income loss that impacted people from all walks of life. While some individuals have been hit harder than others, it’s difficult to find a group or industry that hasn’t been affected. A small segment of the.... More »
The best high-interest savings accounts in Canada for 2025 + MORE Dec 24th
Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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New rules of saving + MORE Nov 9th
Rainy day savings accounts are a bad idea
In this new age of low interest rates, rainy day savings make a lot less sense. It’s hard to justify keeping six months’ salary in a plain-vanilla account. “If you have a mortgage, money in a savings account is better spent putting it towards the mort.... More »
A low-fee portfolio for DIY investors
– moneysense.ca
(Photo by Micah Bond)The portfolio problem
Gino Marcone, 49, is a regional sales manager who has spent the last three years working with an advisor at his local Guelph, Ont. bank to build his retirement nest egg. He recently learned he’s paying 2% annually in management expense ratios (MERs) on his plain vanilla mutual fund portfolio—that’s $5,000 in fees paid each year on his six-figure savings plan. “I tried to negotiate better fees but my advisor wasn’t able to help, so I decided to help myself,” says Marcone. He opened an online trading account and now wants to build a low-fee portfolio using index or exchange-traded funds (ETFs). “I’d like to add $20,000 each year until retirement.”
The portfolio fix
Even though Marcone started investing just three years ago he’s done a lot of things right, says Ayana Forward, a certified financial planner with Ryan Lamontagne in Ottawa. “He’s worked hard to maximize his RRSP and TFSA and he’s off to a great start…
