Not sure how to make a savings plan? Read on…
Latest News
Best FHSAs in Canada: Where to get the new first home savings account + MORE May 8th
First home savings account (FHSA) highlights
The FHSA is a type of registered account that allows you to contribute up to $8,000 annually, up to a lifetime limit of $40,000, to save for the purchase of your first home.FHSAs became available on April 1, 2023. However, availability is currently limite.... More »
New to Canada? A new way to transfer your credit score + MORE Oct 29th
Equifax Inc. is launching a program to allow newcomers to transfer their foreign credit history to Canada.
The credit reporting company said Thursday that the Global Consumer Credit File will make it easier for immigrants to access services like loans and cellphone plans in Canada by providing th.... More »
The best high-interest savings accounts in Canada for 2025 + MORE Jun 4th
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.
Advertisement
Why trust us
MoneySense is an.... More »
COVID-19: Preparing for Financial Uncertainty + MORE Apr 4th
As the COVID-19 outbreak continues to batter markets and force more businesses to close their doors, talk of a looming recession grows louder. There is no question that many more jobs are at risk, and for those whose livelihoods are particularly vulnerable, now is the time to take stock of your fin.... More »
Travel deals to take advantage of now, and save for later—when it’s safe + MORE Jun 20th
As social bubbles, provinces and countries slowly open up again, many people are looking to salvage their travel plans for this summer while others think about 2021. Admittedly, there’s still a lot of uncertainty in the world, but that isn’t preventing some providers from tempting lockdown-weary.... More »
Saving up to buy your first home? Here’s why you should do it in a TFSA instead of an RRSP
– thestar.com
Both allow your savings to compound tax-free, but for most younger first-time home buyers, the more flexible TFSA comes out on top.Saving up to buy your first home? Here’s why you should do it in a TFSA instead of an RRSP
– thestar.com
Both allow your savings to compound tax-free, but for most younger first-time home buyers, the more flexible TFSA comes out on top.Should You Give Your Teen a Credit Card?
– ratesupermarket.ca
Over one-third of Canadians share a joint credit card with their partner, parent, or child, according to a recent survey conducted by Rates.ca. Among the parents who share their credit card with their children, 63% said that managing their children’s purchases is less difficult than it was two years ago.
Sharing a credit card with your child may be a beneficial learning experience, as less than half of Canadians (46%) think that children aged 18 should be independent and in charge of their own credit card, while 34% chose the age of 21, and 15% chose the age of 25. Respondent’s opinions may correlate with their own experiences and lessons regarding credit cards and credit products, as 94% of Canadians rate themselves poor when it comes to financial literacy.
However, many children are no longer solely learning financial habits from their parents. In Ontario, the Ministry of Education has started to implement financial literacy education in the curriculum for grades 4-12.
Teens and Credit Cards
Teaching your child responsible spending may start early with an allowance and then a savings account…
