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Latest News
Drivers can pocket their savings by allowing their insurer to come along for the ride + MORE Jun 21st
Driver monitoring programs are generally delivered in two ways, by a smartphone app that “sleeps” until it senses driving has started, or by a telematics device plugged into the car’s diagnostic port..... More »
Will credit card debt affect my mortgage application? Mar 27th
If you’re shopping around for a mortgage, you probably already know that lenders ask for a ton of financial information before determining how much you can borrow. That list includes your household income and how much you owe—including credit card debt, car payments and unsecured personal loans..... More »
As a Young Adult, These Are The Top 3 Financial Lessons I Learned in 2018 Jan 4th
Growing up, I thought I always had a knack for being financially responsible. My parents constantly lectured me about the importance of spending within my means and saving from a young age, so I would be careful not to spend too much while out with friends, and would throw a few dollars in my savin.... More »
RBC hikes dividend amid record Q3 profit as oil woes diminish - bnn.ca + MORE Aug 24th
bnn.caRBC hikes dividend amid record Q3 profit as oil woes diminishbnn.caTORONTO - Royal Bank of Canada reported slightly higher-than-expected quarterly results on Wednesday after rising oil prices allowed it to set aside less money to cover energy companies' bad loans. Like other Canadian lend.... More »
Top 5 questions about family RESPs + MORE Dec 4th
If you’re saving up for a child’s post-secondary education, a registered education savings plan (RESP) can’t be beat as a savings tool. No other plan or account in Canada will give you access to thousands of dollars in government grants—free money for your kid’s future tuition and other ed.... More »
ORPP good for economy in the long run: Conference Board
– moneysense.ca
TORONTO – The Conference Board of Canada says the proposed Ontario Retirement Pension Plan will mean long-term increases in income that offset the small negative effect on the economy over the near-to-medium term.
In a cost-benefit analysis of the Liberal government’s pension plan, the Conference Board says the increase in mandatory savings initially results in a period of reduced household spending as pension contributions lower family income.
The negative effect on Ontario’s GDP in the near term is partially offset by the fact that individuals are expected to reduce their RRSP contributions when they start paying into Ontario’s pension plan.
ORPP: Low income, part-time workers to take home less »
The Conference Board — an independent, not-for-profit applied research organization — says the impact on overall real GDP is also offset by a fall in imports as less household spending is used to buy foreign goods and services.
Expected decreases in Employment Insurance and Workplace Safety and Insurance Board payroll premiums “further mitigate the short-term economic impact” of the Ontario Retirement Pension Plan…
In a cost-benefit analysis of the Liberal government’s pension plan, the Conference Board says the increase in mandatory savings initially results in a period of reduced household spending as pension contributions lower family income.
The negative effect on Ontario’s GDP in the near term is partially offset by the fact that individuals are expected to reduce their RRSP contributions when they start paying into Ontario’s pension plan.
ORPP: Low income, part-time workers to take home less »
The Conference Board — an independent, not-for-profit applied research organization — says the impact on overall real GDP is also offset by a fall in imports as less household spending is used to buy foreign goods and services.
Expected decreases in Employment Insurance and Workplace Safety and Insurance Board payroll premiums “further mitigate the short-term economic impact” of the Ontario Retirement Pension Plan…
Shoppers line up for Boxing Day savings
– canoe.ca
For Boxing Day shopping, Durga Baudel had a plan of attack.
Investing University: It’s Time to Get Started!
– ratesupermarket.ca
By: Pira Kumarasamy
The stock market in 2015 hasn’t been for the faint of heart, and for millennial investors, the sharp fluctuations might be intimidating enough to keep them out of the game. Fortunately, with so many investing options available, now is a great time to start. With time on their side, millennials have the opportunity to invest for the long term and ride out any temporary waves.
Below, we outline an example of the different stages of an investing career, and the range of options available. One thing to keep in mind is how to best leverage the different accounts available to Canada, including registered accounts like the tax-free savings account (TFSA) and registered retirement savings plan (RRSP). In early career stages, a TFSA may be best suited, while an RRSP is best utilized in higher income brackets. Leveraging the optimal vehicle is just as important as choosing the right investments, so it’s crucial to do research on both fronts.
Also read: How to Get Over Investor Anxiety>
Expertise Level: Freshman
Investor profile: As a novice, the freshman investor might be a recent graduate just getting into the workforce with a few hundred or thousand dollars saved that she’s itching to grow…
