Compare the best savings accounts in Canada for 2023 + MORE Sep 11th
How to build a credit history while renting in Canada + MORE Oct 2nd
The best high-interest savings accounts in Canada for 2023 + MORE Jan 30th
Life insurance for kids: Do you really need it? Jul 24th
Canada’s best credit cards for people with bad credit 2022 + MORE Apr 24th
Why contributing to a TFSA is a good resolution
– moneysense.ca
I don’t know about the second post, but I do agree we’ve come a long way from 2009. It was then when my wife and I made our own first tentative $5,000 contributions to our TFSA, thinking at the time it seemed like a mere drop in the bucket. Even then, right at the start of the new year, we maximized contributions to all our newly opened TFSAs, including our daughter’s, who was fortunate enough to have turned 18 just in time to qualify.
Every year since, as close to January 1st as possible, we faithfully add the maximum contribution amount (initially $5,000, briefly $10,000 and currently $6,000) to each of those accounts…
Good habits that can help you improve your credit score
– moneysense.ca
Your credit score affects your chances of getting approved for a credit card, a mortgage or a personal loan. It can influence your chances of getting lower interest rates on loans, and it may even impact your ability to land a job or rent an apartment.
What is a credit score?
A credit score is a number, usually between 300 and 900, that indicates your creditworthiness. The higher your score, the better. Numerous factors affect your score including how much debt you carry, whether you pay your bills on time, and your credit history. (Not everyone has a credit score. If you’re a student or a newcomer to Canada, or if you haven’t used credit in a while, the credit bureaus may not have enough information to determine your score.)
The higher your score, the greater confidence banks and other lenders will have in your ability to pay them back…
But determining when saving is truly worth it is an important part of managing your money. While some deals do save you cash upfront, you might find yourself spending more money in the long run than if you’d paid in full. Sometimes, a lowball price tag isn’t actually that great for your overall financial goals.
If you’re a renter, you might be frugal with certain items, or go without them, to save a few dollars. Here are the times when it’s not really worth it to aim for a bargain.
Not buying tenant insurance
If you’re an inexperienced renter (say, a post-secondary student), you’re on a tight budget or you just don’t like paying for something intangible, you might be tempted to forgo tenant insurance.
Get personalized quotes from Canada’s top home insurance providers.Home insuranceRenters insuranceCondo insuranceYou will be leaving MoneySense…