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The best high-interest savings accounts in Canada for 2025 + MORE Jun 25th
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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 tax implications of transferring a stock between spouses + MORE May 15th
My wife and I are joint owners WROS (with right of survivorship) of a stock we have owned for many years. If the ownership of the stock is changed to just her name, individually, no death involved, does her cost basis of the shares remain the same as it was when it was in our joint names?—Joe
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Greek banks reopen with cash withdrawal limits + MORE Jul 21st
ATHENS, Greece – Greek banks are reopening Monday after a forced 3-week closure but restrictions on cash withdrawals will remain.
In a decree Saturday, the Greek government kept the daily cash withdrawal limit at 60 euros ($65) but added a weekly limit. For example, a depositor who doesn’t withd.... More »
Holiday deals can’t beat the savings you’ll get on car insurance Dec 21st
You have the perfect Christmas gift in mind for your co-worker, friend or loved one. Imagine stopping at the closest drug store and walking out with that perfect gift, only to find out later that it’s $50 cheaper at another store.
With Christmas in a little over a week, deals are now everywhere. .... More »
10 ways to save more and pay down your debt + MORE Nov 30th
1. Set a goal
If you’re serious about saving you need to set a goal so you know what you’re saving for. Whether it’s a trip to Japan you hope to take in a few months or saving for retirement, having a very specific goal will help you stay motivated and on track.
2. Track your dollars.... More »
Washington's Latest Bank Heist
– online.wsj.com
No victims yet, but regulators guess that there’s bias in car loans.Telegraph.co.ukRussia ready to offer Greeks cash in return for assetsTelegraph.co.ukRussia could offer debt-ridden Greece controversial loans and discounts on supplies of natural gas in exchange for the country's "assets", according to reports in Moscow. Alexis Tsipras, Greece's prime minister, is due to arrive in the city on Tuesday and will …Germany rejects 'stupid' Greek demand for reparationsIrish TimesGreek Syriza party demands £200bn from Germany for Nazi reparationsDaily MailGreece's claim for war reparations from Germany explainedeuronewsReuters Africa -VICE Newsall 316 news articles »
More have savings plans, but fear they aren’t saving enough
– moneysense.ca
(Creative Commons/Ken Teegardin)TORONTO – A new survey of Canadians found almost 20 per cent of respondents didn’t put aside a dime in 2014 and a further 40 per cent felt they were not saving enough.
This year’s household savings report from BMO Financial Group says 31 per cent of respondents had a fixed savings plan in place that included monthly contributions.
That was a significant increase from the previous year when only 26 per cent reported implementing such a plan.
The BMO study also revealed that a third had less than $10,000 in savings.
Money for vacations was the most common goal among savers, while 43 per cent were saving for retirement and 40 per cent for emergencies.
» The right time to save for retirement
Statistics Canada has found the household savings rate hit a five-year low of 3.6 per cent in the fourth quarter of 2014.
Over the last 10 years, the average household savings rate was just four per cent, down from 7.9 per cent in the 1990s.
The BMO survey was conducted between March 13 and March 16 with an online sample of 1,002 Canadians…
Desjardins Insurance has launched a smartphone app that tracks driver behaviour in return for the promise of substantial savings on car insurance, including up to a 25 per cent discount on insurance. But critics have serious privacy concerns.
Credit Card Interchange Fees: The Impact in Other Countries
– ratesupermarket.ca
Last November, it was announced that MasterCard and Visa will reduce credit card interchange fees to an average of 1.5 per cent, to take effect this April. The fees, which are paid by merchants to issuing credit card lenders on each credit card transaction, have long been a point of contention among small business and store owners. With most credit cards requiring a fee paid of 1.60 – 2.60 per cent of the total purchase price, many argued the fees were anti-competitive and eating into their bottom lines. The Government of Canada finally stepped in with the intent to regulate the fee structure, but no official measures were necessary in the long run; both MasterCard and Visa voluntarily proposed to cut their fee structure.
The reduction is meant to benefit both retailers, who will pay less for the ability to offer credit card payment, and consumers who will theoretically enjoy lower prices passed down from retailers’ savings. However, worries persist that a cut to lenders’ profit margins may prompt them to reduce existing credit card variety, decrease current point offerings, and hike interest rates…
