How to go about securing the best savings strategy in Canada.
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What Does Silicon Valley Bank’s Collapse Mean for Canadians? + MORE Mar 27th
Update: On March 27, North Carolina-based First Citizens bank said it would buy much of the failed Silicon Valley Bank. The deal means First Citizens will assume US$110 billion in assets, deposits of US$56 billion and US$72 billion in loans from the failed SVB.
The collapse of Silicon Valley Ba.... More »
Climbing Debt, Diminishing Savings Highlighted in CBC Documentary + MORE Mar 8th
When it comes to debt management, many Canadians are struggling to keep up, with their housing situation being a source of stress. That was one of the key takeaways from the latest episode of CBC Television’s The Stats of Life, which focused on Canadian statistics surrounding savings (or lack.... More »
New rules of saving + MORE Nov 9th
Rainy day savings accounts are a bad idea
In this new age of low interest rates, rainy day savings make a lot less sense. It’s hard to justify keeping six months’ salary in a plain-vanilla account. “If you have a mortgage, money in a savings account is better spent putting it towards the mort.... More »
High interest rates and unemployment: Expectations for June’s rate announcement May 14th
The odds of a June interest rate cut from the Bank of Canada (BoC) appear to have fallen after the latest jobs report from Statistics Canada showed employment jumped by 90,000 last month. The jobs gain far surpassed forecasters’ expectations and marked the largest employment increase in more than .... More »
Forgot to File Your Taxes Last Year? What You Need to Know Jun 7th
If filing your taxes before the deadline went over your head this year, procrastinating can only make things worse.
Unlike sales tax, which is a pay-at-the-pump proposition, Canada’s income tax system is based on self-assessment. Make your money, plan your affairs as best you can and then, pay up.... More »
Andrew Kravchenko/Pool/ReutersCHELSEA, Que. – Canada has reached a trade agreement with Ukraine that will eventually see a near elimination of duties on goods coming into Canada from Ukraine.
Prime Minister Stephen Harper announced the free trade agreement as he met today with Ukraine’s prime minister, Arseniy Yatsenyuk.
The two met privately in a windowless room at a government-owned house overlooking picturesque Meech Lake in Quebec’s Gatineau Park, about a 20 minute drive from Parliament Hill.
Once in force, the agreement would eliminate 99.9 per cent of tariffs on current imports from Ukraine into Canada, and 86 per cent of Ukrainian tariffs on Canadian products including all tariffs on industrial goods, forestry and wood products, fish and seafood products.
Canada’s trade with Ukraine was worth $244 million last year, down from $322 million the previous year and less than the $400 million in low-interest loans Canada has provided to Ukraine since a political crisis erupted there in 2013…
Most Canadians can’t afford to save more for retirement
– moneysense.ca
As Canada’s premiers prepare to meet in St. John’s this Wednesday, new data shows that most Canadians can’t afford to save more for retirement, and wouldn’t put any extra money into the CPP or QPP if they could.
According to a new public opinion poll conducted by Ipsos-Reid for the Canadian Federation of Independent Business (CFIB), almost 60% of working Canadians report they can’t afford to save more than they already do. When asked how government could best help them save, only 18% point to mandatory increases in CPP/QPP. A similar 19% say they would voluntarily invest in the CPP/QPP.
“No matter how you ask the question, fewer than one in five Canadians supports putting more of their hard-earned money into the CPP or QPP,” says CFIB president Dan Kelly. “Premiers need to know that Canadians would choose to put any extra money for retirement savings in to TFSAs, RRSPs or private investments over any increase in CPP/QPP.”
Canadian employees identified reducing government spending and taxes (39%) and creating new incentives to save (37%) as the best ways for government to help…
According to a new public opinion poll conducted by Ipsos-Reid for the Canadian Federation of Independent Business (CFIB), almost 60% of working Canadians report they can’t afford to save more than they already do. When asked how government could best help them save, only 18% point to mandatory increases in CPP/QPP. A similar 19% say they would voluntarily invest in the CPP/QPP.
“No matter how you ask the question, fewer than one in five Canadians supports putting more of their hard-earned money into the CPP or QPP,” says CFIB president Dan Kelly. “Premiers need to know that Canadians would choose to put any extra money for retirement savings in to TFSAs, RRSPs or private investments over any increase in CPP/QPP.”
Canadian employees identified reducing government spending and taxes (39%) and creating new incentives to save (37%) as the best ways for government to help…
