Not sure how to make a savings plan? Read on…
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The best high-interest savings accounts in Canada for 2024 May 21st
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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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How much money does the government contribute to an RESP? + MORE Feb 13th
Whether your child eventually goes off to university, enrolls in a college program or is interested in another type of schooling, there’s no way around it: post-secondary education is pricey. In Canada, the average undergraduate tuition fee for the 2022–23 school year was $6,834. Over four yea.... More »
How to Get More on Your Income Tax Return with the New Climate Action Incentive + MORE Apr 12th
The federal government’s Carbon Tax officially came into effect on April 1, increasing the costs of gasoline and fossil fuel consumption.
The tax was introduced in an attempt to encourage Canadians to use more environmentally-friendly and energy-efficient processes, though subsequently, a tax cre.... More »
Best in show: How to find and invest in market leaders + MORE Apr 10th
Canadians approach retirement planning in many different ways, but there’s one thing we can all benefit from: a strategy to save enough to retire comfortably and even generate income after we stop working.
But many of us don’t feel financially ready to stop working. According to a 2022 survey.... More »
Why retirement planners are getting defensive + MORE Oct 1st
While working people may envy those at or near retirement, once you get there there’s a certain amount of anxiety over markets and the prospect of outliving your money should stocks and interest rates fail to cooperate.
Of course, those with guaranteed-for-life, taxpayer-backed, defined benefit.... More »
College Too Expensive? That's a Myth
– online.wsj.com
Pell grants, state aid, modest loans and scholarships put a
four-year public institution within the reach of most.
Should You Renew Your Mortgage Early?
– ratesupermarket.ca
Do you have a mortgage up for renewal in a few months? You may have received a letter from your bank offering you a chance to “renew early and save” or some similar wording. With the extremely low rates on offer, it could be a good idea to renew your mortgage early and take advantage of the savings – but make sure you investigate all your options before signing on the dotted line.
How You Save By Signing Early
The idea with renewing early is that you can lock into today’s current low rates before they go up. And, if you renew with the same financial institution that currently holds your mortgage, you can essentially break the old one without any penalty and start making payments at the lower rate. (If you do break your mortgage early and switch to another bank, you’ll have to pay a penalty, typically three-months’ worth of interest on the outstanding balance or the interest rate differential, whichever is higher.)
Thinking of breaking your mortgage? Use our Penalty Calculator to see how much you can expect to pay…
