A common reason given for not saving or investing is that there is no available money after all the bills and expenses are paid. By simply increasing your savings by the amount of your raises, you can quickly build up a nest egg without noticing any change in your lifestyle or spending habits.
Since your raise [...]
Scotiabank has a unique savings program, called Bank The Rest, that rounds up your purchase to your choice of either the nearest $1 or $5. The extra amount is automatically transferred to a savings account for you.
While this might sound like an easy way to save, the total savings may not be that much. If [...]
In mid-April, Experian decided to close their consumer credit bureau in Canada. With nearly flat revenue growth in North America, the company cited the global financial crisis which has lead to reduced consumer lending activity.
This message was posted on their website:
“Effective April 17, 2009, Experian will unfortunately discontinue its Canadian consumer credit bureau operations as [...]
The deadline to file your taxes is by midnight on April 30th. As many as 10 million returns are filed in the final week, about 40% of all the returns the Canada Revenue Agency receives each year. Are you one of these late filers?
If you haven’t started yet, consider using StudioTax. It’s free tax software, [...]
The Financial Blogger pointed out some cases where credit insurance is useful.
Million Dollar Journey looked into dividend payment timing for monthly cashflow.
Lazy Man and Money showed us four lazy ways to save the environment.
Four Pillars tried to understand the tricky “deals” offered by stores.
Squawkfox listed 14 things to do before and after a car accident.
WhereDoesAllMyMoneyGo gave [...]
Earlier this week, when discussing withdrawing RRSPs before retirement, I mentioned withholding tax but never went into detail. Withholding tax is the amount that the bank is required to submit to the CRA on your behalf. Since withdrawn RRSPs are considered income in that year, the withholding tax is similar to your employer withholding a [...]
Yesterday, the Bank of Canada cut its key interest rate another 0.25%, down to a record low of 0.25%. All the major banks followed suit and lowered their prime rate by 0.25% as well. Effective today, the banks now have a prime rate of 2.25%.
If you have a mortgage at Prime -0.75% then you are [...]
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