Guaranteed Investment Certificates, or GICs, are a form of investment where you agree to lend money to a bank for a set amount of time. The bank agrees to pay you a certain percentage of interest to borrow this money. The amount of time might only be 90 days or as much as 10 years….
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Category Archives: Saving
How To Build An Emergency Fund
So you’ve paid off all your debt and want to start to build your savings and investments? Before you start working on building up your RRSP, your first savings priority should be an emergency fund. I’ve mentioned previously that I don’t believe an emergency fund makes much sense if you still have debt. By paying…
10 Ways To Save Money On Your Vacation
With school out and everyone getting ready for their vacation, here are 10 ways for you to save money this summer. Save for your vacation. Like anything else, saving in advance instead of using credit will save you money by earning interest instead of paying interest. Check out websites such as Expedia and Sell Off…
Pay Yourself First
You’ve probably heard this phrase before, Pay Yourself First. This is likely the easiest way to save money. Many people say they’ll save whatever money is left over at the end of the month. The problem with that is the temptation to spend on “must have” items. Then at the end of the month, there…
Use Your Raise To Increase Your Savings
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…
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….
10 Money Saving Tips
I’m sure these days most people are looking for ways to save money. Here are a few money saving tips that have helped me and hopefully you can benefit from doing these as well. Don’t pay an annual credit card fee. There are many cards that don’t have fees and still include the extras like…
