There are plenty of bank savings account options in Canada! Stay on top of the best plans right here.
Latest News
Video: How to close a bank account + MORE Sep 12th
Pretty much every Canadian has a bank account. So it makes sense to ensure that you have the best savings account for you (and chequing too) by shopping around. So if you’ve decided to move on from your current bank, you will want to close your old account and ensure that nothing gets lost in the .... More »
The real cost of going back to the office + MORE Jul 10th
If your daily commute currently involves a sweatpants-clad walk from the coffee maker to your home office, you may have seen significant benefits, including a rise in your bank account balance. A 2022 survey from CISCO found that Canadians saved an average of $11,530 per year while working remotely.... More »
Canada’s best credit cards for people with bad credit 2022 + MORE Apr 24th
Conventional wisdom may lead you to believe that if you have bad credit, you should swear off credit cards. However, if you want to improve your credit score, you’ll have to prove you can handle credit responsibly—and one way to do that is (you guessed it) to have a credit card. When used respon.... More »
Tech Entrepreneur Lauryn Vaughn Is Changing the Resale Fashion Game + MORE Jul 17th
My entire career has been about using technology to sell upscale consignment clothing. But my starting point was in traditional fashion: When I was a commerce student at the University of Calgary, I landed an internship with the designer Paul Hardy. That was my introduction to retail behind the scen.... More »
“Should I loan investments or money to my spouse?” + MORE Aug 2nd
Q. I’m 38 years old and have been married for 10 years. I would like to set up a spousal loan to my wife, who works part-time while raising our two young sons.
How would I go about doing this correctly? And is there any special consideration of a cash versus “transfer-in-kind” of stocks, other.... More »
When Your Adult Kids Ask You for Money: Best Investment Advice
– ratesupermarket.ca
You’re in your golden years and you and your spouse are enjoying retirement. But then one of your children asks for a loan. Should you tap into your savings to help them? Or, is it better to steer them towards a personal loan to help them get out of debt?
Use these tips to help you explore when to say “yes” and “no” to your adult children and how best to help them – without harming your own financial future.
Consider Your Needs First
Not having money is a concern for anyone. But in your retirement, there are added pressures to prepare for the unexpected. That makes a loan a very touchy topic.
Start with a discussion with your spouse to address if you can afford to help your adult child. Keep in mind, if you run out of money, who will support you? By discussing the topic, you decrease any anxieties or concern over how to handle the matter.
A few points to think about include:
How much money do they need?
Will the loan affect your retirement and ability to pay your bills?
Will you take the money out of a retirement account?
Will they pay the money back and by when? What if you have an emergency in the interim?
Have a Discussion with Your Child
While it’s not your financial responsibility to support your adult children, discuss the matter…
June Wedding? How to Budget for Your Wedding Stress-Free
– ratesupermarket.ca
20 guests or 200? Chicken and steak or vegetarian? Classical music ensemble or Gangnam style DJ? So many decisions! Planning a wedding can be quite stressful. But, with the right planning, you can stretch your money and have the wedding of your dreams.
Use these tips to help plan your budget (and take the stress out of your big day!).
Determine How Much Money You Have to Work With
A budget is necessary as wedding costs can quickly spiral out of control if you’re not careful. While most couples cover the wedding costs themselves, some have help from parents. Others take out emergency loans as a back-up. That’s why a budget can keep you on track (and on schedule).
To help with your budget:
Add up all money including savings, your parents’ contributions and future paychecks.
Include how much you need for the caterer, flowers, hotels, wedding attire and other expenses.
Don’t get alarmed if you’re over-budget. You can trim back by changing florists or hiring a DJ instead of a band…
