All about Canadian Savings. Learn the ins and outs and get the latest news.
Latest News
The best TFSAs in Canada for 2024 + MORE Jan 9th
Tax-free savings accounts (TFSAs) are more than a simple tax-sheltered savings account. TFSAs allow Canadians to hold cash, guaranteed investment certificates (GICs), stocks, bonds, exchange-traded funds (ETFs) or mutual funds within a structure backed by the government. Any interest made during you.... 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 »
OAS payment dates in 2025, and more to know about Old Age Security + MORE Oct 8th
If you’re approaching or planning for retirement, you may have questions about Old Age Security (OAS) benefits, like: Do I need to apply for OAS? How much will I receive in OAS? When do OAS payments go out? We cover these questions and more below. But first, here’s a quick overview of how OAS wo.... More »
Canada has new rules for high-interest loans—here they are + MORE Jan 7th
As of January 1, 2025, Canada’s criminal interest rate officially reduced to 35% annual percentage rate (APR), and payday loan costs are now capped at $14 per $100 borrowed. On the surface, these changes are meant to make borrowing more affordable. However, they could have unintended consequences..... More »
Should I use retirement savings to pay off credit card debt? + MORE Jun 11th
Ask MoneySense
Should you cash out some of your RRIF monies to pay down credit card debt or take out a loan at a bank or private lending? Thank you.
—Marcia E.
Does it make sense to pay off debt with savings or take out a loan?
Thank you for your question, Marcia. You’ve worked hard to.... More »
What does the average wedding cost in Canada?
– moneysense.ca
“But you’re getting married! You have to!” That empty statement is on the other end of everything from wedding cakes to bachelorette parties, lace veils, engagement photo shoots and selfie stations. It seems that from the very minute you are betrothed, everyone and their mother (perhaps especially your mother) has opinions about what you should do at your wedding. The notion that couples will only have their big day once is also used to justify tossing their financial goals out the window, and the results aren’t very romantic.According to a survey from BMO Financial Group, Canadian couples dip into their savings and investments to front more than half (60%) of their wedding costs. For most North American couples, it is almost accepted that getting married is going to end in a sizeable debt and some serious financial stress. Does that have to be the case?
Say it with us now: It is not worth it. No wedding is worth stress breakouts, zero sex drive, fighting with your partner, or going into debt over…
