If you pay your balance in full every month, you can avoid paying credit card interest while still taking advantage of the rewards and perks that come with your credit card. If you carry a balance, however, most card issuers charge interest—commonly between about 12% and 21% APR, depending on the card and your credit … Read more

Most people donate to charities for reasons beyond tax benefits, such as supporting causes they care about. However, charitable giving can also provide meaningful tax savings. Below is a clear explanation of how donations affect taxes in Canada, which organizations qualify, how couples should claim donations, and efficient ways for investors to fund gifts. How … Read more

The BMO Ascend World Elite Mastercard is one of BMO’s premium credit cards, offering a points-based rewards system through BMO Rewards, elevated earn rates on travel, and a range of travel-focused protections and perks. Below is a clear, updated overview of the card’s features, who it suits best, and what cardholders should consider before applying. … Read more

The MBNA True Line Mastercard is best known for its strong balance transfer promotion, making it a popular choice for cardholders who want to move existing balances and reduce interest costs. This review breaks down the card’s features, fees and benefits so you can decide if it belongs in your wallet. Who is the MBNA … Read more

David Chilton remembers a time when money was tight. In 1988, determined to share his practical approach to personal finance, he cashed in his RRSP to self-publish a book built around a down-to-earth barber who dispenses commonsense money advice to customers. He later recalled that writing the first Wealthy Barber coincided with one of his … Read more

A specialized team of Canada Revenue Agency (CRA) cryptoasset auditors has uncovered a significant volume of unpaid taxes, working on more than 200 files and securing over $100 million through audits in the last three years. The CRA warns that as many as 40% of Canadians who use cryptoasset platforms either haven’t filed required tax … Read more

Laurentian Bank retail customers are set to transition to National Bank after a split-sale agreement that divides Laurentian’s operations between two buyers. Under the deal, National Bank will take on Laurentian’s retail deposits and loans as well as the small business portfolio, while Fairstone Bank of Canada will acquire the commercial lending operations. At this … Read more

Here’s a round-up of news for Canadian investors this week. Scotiabank National Bank RBC CIBC BMO TD Featured RRSP Accounts featured EQ Bank Build your retirement savings with 1.50% interest, tax-deferred contributions and zero fees. go to site featured Registered GIC rate Earn a guaranteed 2.75% in your RRSP when you lock in for 1 … Read more

Inflation refers to the sustained rise in the general price level of goods and services over time, which reduces the purchasing power of money. Governments, central banks and financial institutions closely monitor inflation data to shape monetary policy, set interest rates and guide lending decisions. Households and businesses use inflation trends to plan budgets, investments … Read more

If the idea of having “the money talk” with your children makes you uneasy, you’re not alone. A recent RBC poll, Talking Money with Our Kids, highlights widespread concern among Canadian parents about their children’s financial futures and the effect that worry has on family well‑being. Concern is high, conversations are low Teenagers and young … Read more