There are plenty of bank savings account options in Canada! Stay on top of the best plans right here.
Latest News
Capital gains when selling property to family + MORE Mar 20th
Do I have to pay income tax if I inherited a property jointly with my sister and she bought me out for less than half the appraised value of the property?
—Johanna
Capital gains and transferring property between family
Asset sales between family members can be tricky to facilitate at a family leve.... 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 »
Best in show: How to find and invest in market leaders + MORE Apr 10th
Canadians approach retirement planning in many different ways, but there’s one thing we can all benefit from: a strategy to save enough to retire comfortably and even generate income after we stop working.
But many of us don’t feel financially ready to stop working. According to a 2022 survey.... More »
My three kids chose different educational paths. How do I withdraw RESP funds in a way that’s fair to them and avoids unnecessary taxes? Jul 25th
Q. I have a Registered Education Savings Plan (RESP) for my three children, the youngest of whom is starting university this fall. We have made some withdrawals for the older two kids but the plan is still well-funded. Our middle child has decided to pursue a co-op university program, which is esse.... More »
Video: How to close a bank account + MORE Sep 12th
Pretty much every Canadian has a bank account. So it makes sense to ensure that you have the best savings account for you (and chequing too) by shopping around. So if you’ve decided to move on from your current bank, you will want to close your old account and ensure that nothing gets lost in the .... More »
‘I am at a bit of a standstill when it comes to setting up my future life goals, so, I don’t really have any,’ Marwa writes to Millennial Money. She wants her coach to provide personal finance advice to help her set up her savings to benefit her future.
‘I am at a bit of a standstill when it comes to setting up my future life goals, so, I don’t really have any,’ Marwa writes to Millennial Money. She wants her coach to provide personal finance advice to help her set up her savings to benefit her future.
COVID-19: Preparing for Financial Uncertainty
– ratesupermarket.ca
As the COVID-19 outbreak continues to batter markets and force more businesses to close their doors, talk of a looming recession grows louder. There is no question that many more jobs are at risk, and for those whose livelihoods are particularly vulnerable, now is the time to take stock of your finances to determine just how well prepared you are for a potential recession.
Recession-Proofing Your Finances
When it comes to the government’s ability to weather an economic downturn, Finance Minister Bill Morneau likes to talk about Canada’s “fiscal firepower.” Unlike the government, as a private citizen you can’t just borrow or raise taxes when you need extra money. That’s why many financial experts recommend keeping an emergency fund at hand sufficient to cover your expenses for at least three months.
If you’ve had limited success in the past building your savings, we’ll look at ways you can catch up and get your savings back on track. We’ll also identify potential areas where you can reduce your spending to help further prepare you for a possible economic slump…