Not sure how to make a savings plan? Read on…
Latest News
A guide to the best robo-advisors in Canada for 2022 + MORE Jan 9th
“You had me at low fees!” That was our reaction to the arrival of robo-advisors in Canada, beginning in 2014. Faced with few alternatives to mutual funds and self-directed brokerage accounts, young and middle-income investors embraced the option of having their savings passively managed in a bu.... More »
You opened an RESP—now what? Nov 27th
As many Canadian parents and grandparents know, a registered education savings plan (RESP) is a powerful savings tool. Although you can create a college or university fund for your child in other ways, such as a bank account or a tax-free savings account (TFSA), they don’t offer the same valuable .... More »
I lost my home in a fire. Can I tap my LIRA to cover costs? + MORE Nov 16th
Q: My house was burnt in the Fort McMurray fire. I am now unemployed and my husband and I are struggling to make the mortgage payments on top of our rent payment. Our savings are now drained as well as money received from insurance—the town house was part of a condo and is being rebuilt.
We have.... More »
Our roundup of the best tax tips for Canadians + MORE Nov 14th
Tax tips are like opinions—everyone has one. But the key is to listen to the ones you can trust. That’s why we rounded up our favourite expert tax advice. Regardless of whether you are doing your taxes yourself, or you have someone do them for you, you will find most of these helpful to your tax.... More »
2021 tax season primer: Our roundup of the best tax tips for Canadians + MORE Nov 21st
Doing your taxes can be a bit like building IKEA furniture. There are lots of different pieces, the instructions aren’t always clear, and it’s often feels like it could be easier just to call in the hired pros. That’s why we rounded up our favourite expert tax advice. Whether you’re going fu.... More »
Engaged? You Better Start Saving Now
– walletpop.ca
With summer around the corner, wedding season has officially begun. As I happily attend the nuptials of family and friends this summer, I think back to my own wedding. After getting engaged and the initial excitement began to wear off, my focus shifted to thinking about how I was going to actually pay for the wedding day. Although it sounds unromantic, you essentially set a new savings milestone when you pick your official wedding day.
Think about those costs that come after the wedding — a house, kids, vacations, retirement savings. The last thing you want to do is go into debt to pay for a single day before the rest of your life takes off. To keep your wedding budget on track, follow these simple tips:
Set a budget and give yourself time to save
After you celebrate the engagement, it’s time to decide how much you want to actually spend on your wedding.
According to WeddingBells.ca, the average wedding costs $30,000 and Brides.com estimates the average length of an engagement is about a year and half…
Canadian banks boost consumer fees even as collective profits rise
– canadianbusiness.com
TORONTO – Several of Canada’s biggest banks are upping the fees that they charge customers even as they continue to rake in hefty profits, and experts say Canadians are likely too complacent to do much about it.
TD Bank (TSX:TD) boosted a number of the fees associated with its personal deposit accounts starting March 1, including increasing the cost of using a non-TD ATM to $2 from $1.50.
The lender also introduced a $75 fee to transfer a tax-free savings account to another institution.
“We recognize that any changes can be challenging for customers and only after careful review do we increase our prices,” said TD spokeswoman Daria Hill.
“We’re transparent about communicating these changes to our customers and we encourage customers to come and talk to us. There are ways for customers to avoid or minimize the impact of these changes, and we can help guide them to the options that best suit their needs.”
Meanwhile, CIBC (TSX:CM) has since boosted the minimum balance needed to avoid paying a monthly fee for its Everyday Chequing Account to $2,000 from $1,000 and raised the fee for each transaction over 12 to $1…
TD Bank (TSX:TD) boosted a number of the fees associated with its personal deposit accounts starting March 1, including increasing the cost of using a non-TD ATM to $2 from $1.50.
The lender also introduced a $75 fee to transfer a tax-free savings account to another institution.
“We recognize that any changes can be challenging for customers and only after careful review do we increase our prices,” said TD spokeswoman Daria Hill.
“We’re transparent about communicating these changes to our customers and we encourage customers to come and talk to us. There are ways for customers to avoid or minimize the impact of these changes, and we can help guide them to the options that best suit their needs.”
Meanwhile, CIBC (TSX:CM) has since boosted the minimum balance needed to avoid paying a monthly fee for its Everyday Chequing Account to $2,000 from $1,000 and raised the fee for each transaction over 12 to $1…
