Ask MoneySense My wife, two kids (a 14-year-old son and a 10-year-old daughter) and I are all Canadian citizens. I am planning to work in the United Arab Emirates (UAE) while my wife and children remain in Canada. We own our home in Canada and have a pre-construction condo expected to close at the end … Read more

I am about three years from retirement (hopefully) and am purchasing units of income ETFs in my TFSA and LIRA with an eye toward using the ETF income to supplement my pension income. I am confused about how the income from the ETFs in the LIRA would be accessed and if the income would count … Read more

Effectively managing your spending is a cornerstone of financial health. It helps you follow a budget, reach financial goals and feel more confident about your money. Below are six compelling reasons to consider adding a prepaid cash back card to your wallet. What is a prepaid card? A prepaid card is loaded in advance with … Read more

Maybe your wallet is already stuffed with credit and bank cards. Still, it can be worth making room for one more: a prepaid cash-back card. These cards give you many of the conveniences and rewards of a traditional payment card while keeping spending limits and minimizing credit risk. They can be particularly useful if you’re … Read more

Three-time author and Certified Financial Planner Shannon Lee Simmons is candid about her financial missteps—and how she recovered from them. After leaving her Bay Street position to launch the advice-only New School of Finance, she ran into more debt than she had planned. Instead of succumbing to guilt, she chose a steady, realistic path to … Read more

If you’ve watched Bollywed, you’ll recognize the vibrant mix of South Asian culture, fashion and entrepreneurship shown through the Singh family. The series follows father Kuki Singh and son Chandan Singh as they run Chandan Fashion, a bridal boutique in Toronto’s Little India, while navigating family dynamics, generational differences and the realities of running a … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, highlights the week’s financial headlines and explains what they mean for Canadian investors. Have we reached peak interest rates? On Wednesday the Bank of Canada raised its policy rate by 25 basis points to 4.5%. The increase was widely expected and … Read more

How do you make decisions you won’t regret when everything around you feels unstable? Use a clear, repeatable approach I call the Decision Crisis Playbook. The Decision Crisis Playbook A decision crisis happens when you must make major choices during a difficult period, but your basic needs—food, shelter and personal safety—are still met. The pressure … Read more

If Kerry K. Taylor looks familiar, you’ve probably seen her on television offering clear, practical personal finance tips on programs such as CBC’s The National and CTV’s Your Morning. A seasoned financial journalist who has contributed to publications like the Globe and Mail and the Toronto Star, Kerry is the founder and voice behind Squawkfox.com, … Read more

Wow — I just finished Joe Wiggins’ book, The Intelligent Fund Investor (Harriman House, November 2022). It’s a clear, evidence-based guide to fund investing that I’d recommend to both DIY and professional investors. The writing is concise, the arguments are practical, and I read every chapter straight through—something I don’t always do with investment books. … Read more