Finance News
The best five-year variable mortgage rates in Canada
Compared to other mortgage products in Canada, five-year variable-rate mortgages are very attractive when market interest rates are low, as they have been for the last several years. Though historically less popular with Canadians than five-year fixed-rate mortgages,...
My 2023 Financial Goals – Boomer & Echo
It’s safe to say that 2022 did not go according to plan. On a macro level we had stubbornly high inflation, rapidly rising interest rates, and falling stock and bond prices. Personally, we managed to execute our revenge travel plans with a week in Maui,...
How to plan for retirement in five or 10 years
Most of your money will be tied up in your home. Is your plan to leave that money to your children? If not, when would you want to access that money and how? When you’re engaged in the planning process, experiment with different solutions as to when and how to access...
Should you buy a new or used car?
3. Insurance rates Generally speaking, it costs less to insure a used car than a new car, but this isn’t a hard and fast rule. Many variables can affect insurance costs, such as the type of vehicle and the level of risk attached to it. For example, insuring a sports...
The New Canada Dental Benefit: Your Guide To Eligibility And Payments
The federal government opened applications for the Canada Dental Benefit on December 1, 2022. Eligible parents can now receive tax-free annual funding to help cover any dental expenses that are paid out-of-pocket for the next 2 years. Tooth decay is one of the most...
Should you collect CPP and OAS while working in your 60s?
Collecting CPP and OAS while working in your 60s You can begin your Canada Pension Plan (CPP) pension as early as age 60 or as late as age 70, Simon. At age 65, you generally need 39 years of maximum contributions to receive the maximum CPP retirement pension. Given...
Canada’s best credit cards for gas
Find your next credit card* See cards tailored for you from over 12 banks and card issuers No impact to your credit score Get an answer in under 60 seconds You will be leaving MoneySense. Just close the tab to return. The best credit cards for gas in Canada Credit...
Canada’s Climate Action Incentive Payment Program – What You Need To Know
Are you aware of how Canada’s climate action incentive payment can provide you with cold, hard cash? If this is the first you’re hearing of it, you might want to take notes. It’s essentially a carbon tax rebate, and it could mean extra money in your...
How Much Is Nunavut Minimum Wage? Why Canada’s North Has Higher Wages
Since 2020, Canadians from coast to coast have experienced inflation rates that are significantly higher than normal. This has placed minimum wage under scrutiny as governments face pressure to help workers handle the increased cost of living. Nunavut minimum wage is...
Compare the best GIC rates in Canada 2022
In addition to the payout schedule, you’ll want to understand how interest is compounded for the GIC you’re considering. With simple interest, the bank pays interest on the initial principal only. This means that if you invested $100,000 into a two-year GIC with a...
About Author
Melinda is a research journalist working performing her duties as chief editor at this news station. She is a talented writer and comes up with facts everybody wants to know.
3°C