Should Canadian retirees own or rent their home? Use this simple ‘5x5x5 rule’ to figure it out
Faced with the rising cost of living, many American retirees are looking to control one of the most fundamental expenses: housing. Since the pandemic, the cost of housing has remained stubbornly high. According to a recent report, home affordability slipped further in January, as rising prices raised the income needed for a mortgage in 12 […]
It can cost over 8k to furnish a new apartment — here are 3 tips to do it without breaking the bank
Signing the lease for a new apartment is an exciting experience. But, the financial implications of furnishing an apartment can be overwhelming. According to Furniture Bank — a Toronto-based social enterprise that re-homes furniture to those in need — the average cost to furnish a one bedroom apartment is $8,353. Now that, plus the cost […]
Carney? Poilievre? Singh? In advance of the 2025 election, here’s how to invest in Canada based on party leader
This year’s election cycle is anything but boring, and that’s putting it lightly. Between rising global tensions, and the return of Trump-era tariffs, it’s easy to feel uneasy about investing your money. More investors are looking local for opportunity. There’s a growing “Buy Canada” push from policy-makers, retailers and investors alike. But where does that […]
Can you pay CRA taxes with a credit card in 2025? Fees, risks, and better options explained
If you owe the taxman money this year, paying on time is the best way to avoid penalties and interest. As Canada’s tax law administrator, the Canada Revenue Agency (CRA) makes it easy to pay your taxes in a number of different ways — including by swiping your credit card. If you’re thinking about using […]
Financial MLMs: How to spot the difference between a multi-level marketing scheme and an actual business
Between rising interest rates, a shaky stock market and the threat of a trade war with the US, it’s no surprise that financial uncertainty has instilled fear in people in recent years. And unfortunately, this financial uncertainty makes people more vulnerable to falling for get-rich-quick (or “quicker”) schemes in times of need. More specifically, multi-level […]
You’ve earned every dollar — make it count. Here are 6 strategies to help you keep more of your hard-earned money this tax season
There’s an old adage that goes something like, “What’s the difference between tax reduction and tax evasion? About five years in jail.” As a Canadian, you have the right to reduce the amount of income tax you pay, but what you can’t do is evade taxes. Even rich folks with accounts in Panama can get […]
What are the income tax brackets for the 2024 tax year?
Tax season is upon us. Gathering your T-slips and receipts to start crunching the numbers can be anxiety inducing. If you think you might owe money, getting an early start can help soften the blow. Regardless of your situation, knowing the tax brackets helps you prepare. Read More: Find the best tax software to help […]
Tired of your bank taking more than it gives? EQ Bank just flipped the script with 4% interest
As traditional banks quietly trim returns, cutting interest rates on savings and high-interest accounts, EQ Bank is flipping the script. Even as banking customers adjust to lower interest rates, EQ Bank is forging a path the other way — offering up to 4% interest on its Personal Account and Joint Account. That’s 1.25% everyday interest […]
Fixed rates are falling — but variable rates won’t budge. Don’t let confusion cost you thousands. Here’s what you need to know before locking in your next mortgage
In an unusual twist in Canada’s mortgage market, fixed mortgage rates are on a downward trajectory while variable-rate pricing is tightening. This divergence presents both opportunities and challenges for homeowners approaching mortgage renewal. If you’re shopping for a mortgage renewal, there’s some good news: Fixed rates are on the way down. Over the past few […]
Carney? Poilievre? Singh? In advance of the 2025 election, here’s how to invest in Canada based on party leader
This year’s election cycle is anything but boring, and that’s putting it lightly. Between rising global tensions, and the return of Trump-era tariffs, it’s easy to feel uneasy about investing your money. More investors are looking local for opportunity. There’s a growing “Buy Canada” push from policy-makers, retailers and investors alike. But where does that […]