There are all kinds of fees and penalties that you could potentially pay, and it’s your responsibility to understand and avoid them. Most fees are avoidable. Unfortunately, many people allow themselves to be robbed of their hard earned money. Most people don’t realize that fees add up quickly and could cause significant damage to your…
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Category Archives: Banks
Scotiabank’s Scotia Total Equity Plan (STEP)
As I mentioned previously, we’ve recently switched from a conventional mortgage at RBC to Scotiabank’s Scotia Total Equity Plan mortgage. We chose Scotiabank as they had the best rate at the time, but we chose their STEP as it will allow us to continually borrow 80% of our home equity. You may be familiar with…
Manage Your Accounts With Quicken Online
Yesterday we discussed using Wesabe to keep track of your money. A regular reader and commenter, Jerry Hung, pointed out the Quicken Online is also available in Canada. I had looked at Quicken online previously for my own finances but it had a monthly fee and did not appear to support Canadians. Last year, Quicken…
Keep Track Of Your Money With Wesabe
Wesabe is a free website that allows you to track your expenses and savings. Similar to desktop programs like Quicken or Microsoft Money, Wesabe gives you the ability to categorize your spending and set goals for savings and debt reduction. Unlike those traditional personal finance programs, Wesabe has a social networking twist where you can…
Scotiabank’s Bank The Rest Savings Program
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….
Reduce Your Credit Card Interest Rate
Is your credit card interest rate 18% or higher? Call the number on the back of your card, tell them you have seen lower rates and chances are that you can get them to lower it. Your best leverage during the call could be if you have a recent offer in the mail with a…
Visa and MasterCard Debit Cards
Visa and MasterCard have both confirmed that they are looking into offering their debit cards in Canada. These would be similar to the Interac cards that we’re familiar with here. Interac is a non-profit organization, owned by the banks and credit unions, its fees are based on the cost of processing transactions. While increased competition is…
