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Tangerine Bank review: Everything you need to know Jun 20th
Tangerine, with its “Forward banking” tagline, is one of the many banking options in Canada. Having a choice is a good thing—but it can be tough to navigate which bank (and its full range of services) is best for you. That’s why, in this complete bank services review, we’re covering all th.... 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 »
Here’s what’s changed — and what hasn’t — in a pandemic RRSP season + MORE Jan 23rd
If you’ve been earning a good salary from a secure job, investing your savings in a tax-advantaged RRSP is a good idea. But if your income has suffered or your job security is uncertain, keeping what money you have saved in a TFSA is a better bet..... More »
How to save money in Canada: A new way that offers higher interest and more flexibility + MORE Dec 17th
If you’re saving up for a financial goal or large expense—whether it’s a vacation, future vet bills or just your rainy day fund—chances are you’re setting aside money in a regular chequing account, a high-interest savings account (HISA) or a guaranteed investment certificate (GIC). Maybe y.... More »
The best high-interest savings accounts in Canada for 2024 Jun 18th
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The best high-interest savings accounts in Canada for 2024
Here are the accounts offering the highest interest rates and lowest fees.
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Rolling in the Debt: Canada sees a rise in Household Debt
– ratesupermarket.ca
While the value of Canadian homes has decreased for the first time many years, the same cannot be said for Canadian debt levels. This past week, Statistics Canada released its National balance sheet and financial flow accounts looking at the last quarter of 2018, and it shows that the amount Canadians owed relative to their income increased towards the end of the year. The average debt-to-disposable income percentage went to 178.5 per cent (up from 178.3 per cent in the previous quarter). That means for every dollar of disposable income a Canadian household has, they owe $1.79 in credit market debt. The report also dove into the latest housing figures and interest rate trends.
Demand for mortgage loans rising
In the last quarter, Canadian households borrowed $21.1 billion. While the demand for consumer credit and non-mortgage loans did go down, demand for mortgage loans rose $2.3 billion to a total $12.3 billion.
In terms of overall credit market debt, including consumer credit and mortgage and non-mortgage loans, Canadians owe a total of $2…
Four in 10 Canadians Say They are Victims of Identity Theft
– ratesupermarket.ca
Identity theft is an intricate crime, but its cause is very simple: Ignorance, Lack of Awareness and easy availability of vulnerable information.According to a recent study conducted by Equifax Canada, attempts of credit card fraud have increased by 42 percent over the last two years. Suspected true name fraud (when an identity thief poses as a real person in completing a credit application) has also increased by 84 percent over the last five years. In 2018, millennials were targeted in 48 percent of all fraudulent credit card applications.
The damage caused by Identity theft is widespread, and according to survey results, nearly four out of 10 Canadians are victims of it in one form or another. In order to take preventive measures, it is important to understand the various types of identity theft. They include:
Financial Identity Theft: Is when personal information from lost credit cards or financial statements is stolen to commit crimes such as opening fake chequing accounts, applying for loans, mortgages and other financial frauds…
