Not sure how to make a savings plan? Read on…
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How to invest as a teenager in Canada + MORE Mar 13th
If you’re starting to save the money you’ve received from birthdays, holidays and part-time jobs, you may be wondering how you can invest your savings. An important life lesson for any young person is the habit of saving—so, investing for some teenagers can be the next step.
In Canada.... More »
What does a weak Canadian dollar mean for your savings? Feb 25th
It’s the financial news story that everyone is talking about: The Canadian-to-U.S.-dollar exchange rate has been very unfavourable for the loonie lately.
How unfavourable? Since the beginning of the year, the Canadian dollar’s trading value has fluctuated between roughly USD$0.69 and $0.70—.... More »
Power of attorney and taxes: What you need to know + MORE Oct 13th
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Q: If we have a client in Nova Scotia that has power of attorney for their mother who is in a nursing home and both children with POA own a home, will they be responsible for any capita.... More »
The best high-interest savings accounts in Canada for 2024 + MORE Nov 5th
Savings comparison tool
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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MoneySense is an award-winning magazine, helping Canadians navigate mo.... More »
Financial planning in your 70s + MORE Feb 13th
When most people think about financial planning, they think about saving and investing for retirement. That is a part of it, but financial planning is much more holistic.
Here are a few financial planning strategies for those approaching or into their 70s. If you’re not there yet, bookmark this fo.... More »
The true cost of Tassimo and Keurig coffees
– moneysense.ca
Tassimo and Keurig machines make it a snap to brew your favourite coffees at home, with no messy clean-up. But does that convenience translate into savings? Surprisingly, the answer is ‘no’ if your morning routine includes a home-brewed McDonald’s java. Break down the costs and you’ll see it’s actually cheaper to buy it at the store.Once you factor in the free McDonald’s coffee you get after buying six medium cups, it’s about 10 to 20 cents more expensive to brew the equivalent amount at home with a Tassimo disc or K-Cup. That means over the course of the year you’d save $20 to $40 if you just went directly to MickeyD’s to get your caffeine fix.
But if your java of choice is Timmies or Starbucks, here’s some good news: using K-Cups or Tassimo discs saves you about 20% off the cost of buying in-store.
The post The true cost of Tassimo and Keurig coffees appeared first on MoneySense.
Interchange Fee Cut: A New Reality for your Credit Card Rewards?
– ratesupermarket.ca
Are your credit card rewards in for a cutback?
Last November, it was announced that Canada would be the latest nation to cap credit card interchange fees. The fees, which are behind-the-scene charges paid by merchants to credit card issuers every time a card is used in a transaction, will be capped at an average of 1.5 per cent for five years, to go into effect this coming April.
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, the precedent set in other countries with fee caps paints a different picture: interchange fee reduction efforts have been criticized in both Australia and Spain for resulting in reduced credit card benefits and higher fees. And, as the deadline approaches to implement the changes in Canada, questions arise as to whether cardholders here will see their rewards credit card offerings shrink in size and quality…
Debt Resolutions 2015: Canadians Want to Pay it Off
– ratesupermarket.ca
The new year has arrived, and many Canadians are sporting fresh resolutions. While getting in shape remains one of the most popular vows, Canadians are also quite conscious about improving their finances; debt repayment is the number one goal for most, according to a recent poll by CIBC.
Twenty two per cent of respondents said paying off what they owe is their top goal in 2015 – that’s up from 16 per cent just last year. This shouldn’t come as any shocker, since debt repayment has topped the list for five straight years.
Top Financial Goals of 2015
In comparison, only 12 per cent said building savings was their top goal for the year. Ten per cent said paying bills and getting by were their top priorities, to round out the top three. In fourth and fifth were managing day-to-day spending and budget (9 per cent) and retirement planning (5 per cent).
Retirement Remains a Low Priority
Retirement remains out of sight, out of mind for many young savers – respondents placed planning for old age way down the list…
Twenty two per cent of respondents said paying off what they owe is their top goal in 2015 – that’s up from 16 per cent just last year. This shouldn’t come as any shocker, since debt repayment has topped the list for five straight years.
Top Financial Goals of 2015
In comparison, only 12 per cent said building savings was their top goal for the year. Ten per cent said paying bills and getting by were their top priorities, to round out the top three. In fourth and fifth were managing day-to-day spending and budget (9 per cent) and retirement planning (5 per cent).
Retirement Remains a Low Priority
Retirement remains out of sight, out of mind for many young savers – respondents placed planning for old age way down the list…
