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Latest News
Couple pours life savings into bitcoin mine + MORE Dec 7th
As the price of bitcoin tops $15,000 US, some Canadians are looking for new ways to cash in on its climb..... More »
How to invest as a teenager in Canada + MORE Dec 5th
If you’re starting to save the money you’ve received from birthdays, holidays and part-time jobs, you may be wondering how you can invest your savings. An important life lesson for any young person is the habit of saving—so investing for some teenagers can be the next step.
In Canada,.... More »
Our roundup of the best tax tips for Canadians + MORE Nov 14th
Tax tips are like opinions—everyone has one. But the key is to listen to the ones you can trust. That’s why we rounded up our favourite expert tax advice. Regardless of whether you are doing your taxes yourself, or you have someone do them for you, you will find most of these helpful to your tax.... More »
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 »
2022 Income Tax Guide for Canadians: Deadlines, tax tips and more + MORE Feb 13th
It’s been quite a year for numbers, hasn’t it? From rising interest rates to steep stock market drops, finances have been headline news throughout 2022. It’s almost enough to make you forget about tax season. But with the tax deadline approaching, you have a few reminders (see the dates below).... More »
The 8 weirdest things you can bet on at Super Bowl 50
– moneysense.ca
The Super Bowl is this Sunday and, as with any major sporting event, there are plenty of people betting on the outcome of the game. But that’s not the only aspect of the big night that Vegas oddsmakers are taking wagers on. You can place a bet on everything from the result of the coin toss to what colour shoes Beyoncé will wear at half-time. Here are some of the strangest things you can lose money on during Super Bowl 50. And let’s be clear: The surest bet this Sunday is that many gamblers are going to lose their shirts. (We here at MoneySense would obviously rather you tuck your savings in a low-fee, index-tracking ETF.)
But just for fun, here’s a look at the oddities some gamblers are keeping an eye on when the game starts on Sunday, according to online betting site OddShark.
1. Colour of Gatorade thrown on the winning coach
But just for fun, here’s a look at the oddities some gamblers are keeping an eye on when the game starts on Sunday, according to online betting site OddShark.
1. Colour of Gatorade thrown on the winning coach
via GIPHY
You might have heard of the famed Super Bowl Gatorade shower. Of course, it has sprouted its own betting circuit over the years. Betting $10 on an orange splash will give you a pay out of $13, while if you bet on purple and you’re right, you’ll make a whole $100…
Digital banking service offers 3% interest savings
– moneysense.ca
(malerapaso/Getty Images)Great news for consumers looking for a viable high-interest savings account alternative to those at the Big Five. Equitable Bank has launched EQ Bank, Canada’s first completely digital banking service, with an everyday interest savings rate of 3% and no fees or minimum balance requirements. In addition to the higher interest rate, which handily tops anything offered by the big banks, EQ Bank accounts also allow daily transactions, including bill payments and e-transfers.
The post Digital banking service offers 3% interest savings appeared first on MoneySense.
Should this single mom rent or buy a Toronto condo?
– moneysense.ca
Q: I am a 38-year-old, divorced single female with twins who are seven. I am currently renting a three-bedroom condo in downtown Toronto. But I constantly debate the renting vs. buying decision. I currently earn $48,000 per year (which will go up as soon as I finish my schooling for a CPA in a year or two). I have a retirement savings plan at work with matching contributions from my employer. Currently, I am focusing on paying down about $7,000 in debt (should be payed off by the middle of this year), but wonder if I should then concentrate on buying a home or putting the money away in an investment? — Competing priorities, Toronto Ont.
Answer No. 1: There are a lot of factors to consider before you take the jump from renting to home ownership. You don’t want to end up in a situation where you find it difficult to make ends meet. Once you take into consideration some of the expenses associated with home ownership such as property taxes, maintenance, insurance and mortgage interest, you may find that renting is the better solution for you…
Negative interest rates are really already here. Check out your high interest savings account and subtract inflation.
Negative interest rates are really already here. Check out your high interest savings account and subtract inflation.
