How to go about securing the best savings strategy in Canada.
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Challenges Of The Canadian Lending Landscape + MORE Nov 23rd
The Canadian fintech marketplace is growing with significant speed. Canadians' adoption of financial technology -- or fintech -- is expected to triple over the next year according to Canadian advisory firm EY. Toronto-based urban innovation hub, entrepreneurial incubator and fintech cluster develope.... More »
The best high-interest savings accounts in Canada for 2025 + MORE Jun 4th
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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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The savings habit: Census shows 2/3 of Canadians have it + MORE Sep 14th
Almost two-thirds of Canadian households are saving for retirement, census data show, despite a national household savings rate that fell to 4.6 per cent in the second quarter of this year..... More »
Liberal win: Good for first-time home buyers, investors + MORE Oct 20th
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Last night’s election was clear: We weren’t happy with status quo.
“It was a very clear verdict that Canadians were seeking real change,” said Pramod Udiaver, CEO of on.... More »
The best RRSP investments 2022 + MORE Oct 31st
A registered retirement savings plan (RRSP) is an investment that is registered with the Canadian federal government. RRSPs are often described as being “tax-advantaged.” That means you don’t pay income tax on the amount you are contributing to an RRSP, in the year you earn that contribution. .... More »
Will you contribute to an RRSP this year?
– moneysense.ca
Three in 10 (31%) of Canadians plan to contribute to their Registered Retirement Savings Plan (RRSP) this year, down from 39% in both 2012 and 2011, a new poll for Scotiabank ahead of this year’s March 3 deadline has found. Fourteen per cent are undecided.
With just eight weeks left to contribute and qualify for a tax deduction for the current tax year, roughly three-quarters of poll respondents with an RRSP said they’ve thought about contributing more but cite a lack of funds as the top reason for not contributing more.
The study also found that 40% of Canadians with an RRSP have withdrawn funds. Sixteen per cent did so to take advantage of the first-time Home Buyers Plan credit, which allows you to withdraw funds tax-free as long as you replace the amount within 15 years. Unfortunately, the study also revealed more people are dipping into their retirement savings to cover day-to-day living expenses (8% vs. 5% in 2012) pay down debt (8% vs. 6% in 2012) and pay for home renovations (5% vs…
With just eight weeks left to contribute and qualify for a tax deduction for the current tax year, roughly three-quarters of poll respondents with an RRSP said they’ve thought about contributing more but cite a lack of funds as the top reason for not contributing more.
The study also found that 40% of Canadians with an RRSP have withdrawn funds. Sixteen per cent did so to take advantage of the first-time Home Buyers Plan credit, which allows you to withdraw funds tax-free as long as you replace the amount within 15 years. Unfortunately, the study also revealed more people are dipping into their retirement savings to cover day-to-day living expenses (8% vs. 5% in 2012) pay down debt (8% vs. 6% in 2012) and pay for home renovations (5% vs…
Book Review: Stop Over-Thinking Your Money
– ratesupermarket.ca
Personal finance can be an intimidating topic, but it doesn’t have to be. With the hundreds of books out there, where is a reader to start? Some people would rather get a root canal than assess their financial situation. And while improving personal finances is one of the most common New Year’s Resolutions, by mid-January many have already given up on their holiday credit card statement. It’s these excuses author and Globe and Mail personal finance columnist Preet Banerjee skewers in his new book, Stop Over-Thinking Your Money.
Banerjee provides five simple rules to follow towards financial success. You’ll note investing isn’t one of them – why should you worry about investing, when you don’t have any money to invest? With household debt at record levels and personal savings rates at paltry levels, Canadians clearly aren’t getting the message. Banerjee’s rules are easy to grasp and actionable – you’ll achieve an “easy a” in personal finance in no time…
