You may not have thought about selling your clothes before, but the pandemic has made many of us open our closets and think, “I have nowhere to wear this,” instead of “I have nothing to wear.” With lockdowns and hybrid work routines, having a huge wardrobe often no longer makes sense. Now is the moment … Read more

Can we gift cash to our children tax-free? What is the limit on this? And secondly, can we gift property (our home and an investment condo) to our children tax-free? Please let us know.— Ray and Sabina Hi, Ray and Sabina. In Canada, the straightforward answer is that you can generally give cash to your … Read more

The global cryptocurrency market is in the midst of a sell-off — Bitcoin, for instance, has fallen roughly 70% from its November 2021 peak. For long-term, opportunistic investors and newcomers looking to explore crypto, this downturn can be a chance to study emerging platforms that have been overshadowed by major players like Ethereum, the second-largest … Read more

Winter Break, March Break or Spring Break—no matter what you call it, many people are eager to get away when schools close. Timing varies by province, but whether you leave in early March or later in the month, there are plenty of affordable, family-friendly options. Below are four value-minded destinations that offer culture, sunshine, outdoor … Read more

If you’ve joined the ranks of the self-employed, you’re in good company. According to Statistics Canada, about 2.9 million Canadians run their own businesses—roughly 15% of the population—and that number continues to grow. With self-employment comes a different relationship with the Canada Revenue Agency (CRA). To keep that relationship smooth, you must maintain accurate records … Read more

My bank is currently offering an RRSP loan for $15,000. According to their calculator, I would receive a rebate of $6,750 for that contribution. If I spread the loan over 5 years, I pay $275 a month and it will cost me $1,554 in interest (3.95%). Is this loan a good idea, and is it … Read more

If you’re moving to Canada or have recently arrived, you’ll quickly learn how the Canadian financial system works, how to manage everyday money matters, and what to expect when looking for a place to live. The more you understand about banking, credit, saving and the steps involved in buying a home in Canada, the better … Read more

The terms “credit report” and “credit score” are often used interchangeably, but they refer to different things. Both matter when you take out a loan, apply for a mortgage, rent an apartment, or open a credit card. This article explains how credit reports and credit scores work in Canada, why a strong credit history matters, … Read more

Author, public speaker and former financial services professional Mike Drak emphasizes that retiring is only the beginning—and that what follows can be the most challenging and rewarding phase. In this excerpt from his book Longevity Lifestyle by Design, Drak argues that a successful transition requires a retirement vision that goes beyond spreadsheets and savings targets, … Read more

You don’t need to be a points expert to see how much value a well-timed credit card promotion can deliver. The National Bank World Elite Mastercard limited-time offer can add up to 100,000 rewards points in your first year—points you can redeem for gift cards, travel, merchandise or investment options in the National Bank online … Read more