All about Canadian Savings. Learn the ins and outs and get the latest news.
Latest News
Should I work past 70 while collecting CPP and OAS? + MORE Sep 7th
Q: I turned 67 in February of 2016. I still work full time and my yearly income is about $96,000 annually. I also collect a survivor benefit of $389 per month and have contributed to CPP for 14 years. I would like to delay collecting CPP and OAS until 70 but can I still work after age 70 while Iâ€.... More »
Tax changes you need to know for 2017 + MORE Dec 28th
MONTREAL — Canadians will ring in the new year with a number of tax changes that will affect the bottom line of federal and provincial governments. Here’s a look at some of them:
Nationally:
The federal government is ending four child tax credits this year: arts, fitness, education and text.... More »
Shares in Japan Post, bank and insurance units soar after $11.9 billion IPO, 2015’s biggest + MORE Nov 3rd
TOKYO – Shares of Japan Post jumped nearly 17 per cent in the first day of trading after the company and its banking and insurance units raised a combined 1.44 trillion yen ($11.9 billion) in the world’s biggest initial public offering of stock this year.
The long awaited sale of stock i.... More »
Toyota Credit settles US discrimination allegations + MORE Feb 3rd
DETROIT – Toyota Motor Credit Corp. will pay $21.9 million to black and Asian borrowers as part of a settlement over alleged discriminatory lending.
The U.S. Department of Justice and the Consumer Financial Protection Bureau announced the settlement Tuesday.
A government investigation found th.... More »
Credit Card Interchange Fees: The Impact in Other Countries + MORE Apr 7th
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 amon.... More »
What You’ll Really Learn About Finance At School
– ratesupermarket.ca
Many grads recall their university or college years as some of the best of their lives. They may also remember them as the most expensive; funds can be scarily low when tuition, books, dorm rooms and meal plans must be paid for.
Money management is key during those years; students need to employ strategy to stretch their savings as far as possible. But those saving strategies shouldn’t go out the window once exams have finished and a steady paycheque is on the horizon. Here are five student financial tips that everyone should heed.
Cut Down On Swiping
Relying on your credit card is the easiest way to spend beyond your means. Students often learn this the hard way, wracking up thousands of dollars of credit card debt that, when combined with student loans, leave them floundering after graduation. According to recent research by TD Canada Trust, 31 per cent of students and recent grads wished they had been more responsible with their credit card while at school. Thirty eight per cent of Gen Y-ers report having debts from credit cards, lines of credit and loans…
Income splitters take note
– moneysense.ca
The CRA is increasing the prescribed rate from 1% to 2% in October. Prescribed rate loans are often used as an income splitting strategy by families to lower taxes. Here’s how the change will affect investors.
We’ve heard our fair share of bad “pick-up lines” on the dating scene. The Canadian Finance Blog lists pick-up lines from financial planners.
AÂ high-end Japanese eatery began refusing tips after it raised it’s menu prices in order to better pay staff sparking a debate about the merits of tipping among restaurant goers. Tell us what you think by answering our poll question below.
We’ve heard our fair share of bad “pick-up lines” on the dating scene. The Canadian Finance Blog lists pick-up lines from financial planners.
AÂ high-end Japanese eatery began refusing tips after it raised it’s menu prices in order to better pay staff sparking a debate about the merits of tipping among restaurant goers. Tell us what you think by answering our poll question below.
At a restaurant, would you rather…
ETF choices are less important than you think
– moneysense.ca
The comments following my recent post about new ETFs from Vanguard were another reminder of just how often investors get overly focused on products. I accept part of the blame here, since I write a lot about the relative merits of specific funds. But I want to be clear that the choice between similar ETFs or index funds is not nearly as important as many people believe. In many cases, it’s trivial.
Successful investing is about saving regularly, keeping costs and taxes low, diversifying broadly, and sticking to a plan. For index investors, selecting appropriate ETFs is important, but it should only come at the end of the planning process. These important steps should come first:
1. Determine the asset allocation appropriate to your goals. This is the most important decision of all, as it will determine your portfolio’s expected risk level and expected rate of return. My model portfolios are all based on a mix of 60% equity and 40% bonds, which isn’t appropriate for everyone. The right mix of stocks and bonds for you depends on your current savings rate and your ability, willingness and need to take risk…
Successful investing is about saving regularly, keeping costs and taxes low, diversifying broadly, and sticking to a plan. For index investors, selecting appropriate ETFs is important, but it should only come at the end of the planning process. These important steps should come first:
1. Determine the asset allocation appropriate to your goals. This is the most important decision of all, as it will determine your portfolio’s expected risk level and expected rate of return. My model portfolios are all based on a mix of 60% equity and 40% bonds, which isn’t appropriate for everyone. The right mix of stocks and bonds for you depends on your current savings rate and your ability, willingness and need to take risk…
