Your chequing account can quietly shape your daily finances — especially if you choose the right one. Features and fees vary widely between banks and financial institutions, so it pays to compare options before opening a new account or switching. Many Canadian providers offer low- or no-fee accounts, extra services and welcome bonuses that can … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, highlights the week’s top financial stories and explains what they mean for Canadian investors. Retail struggles continue The latest quarterly reports released ahead of the holiday shopping season show a familiar paradox: many large retailers posted strong sales but also struggled … Read more

Benjamin Franklin famously said “nothing is certain, except death and taxes.” While death is inevitable, how much tax each Canadian pays depends on individual circumstances. Not everyone owes tax — it varies by income and deductions. For the purposes of this article, a better way to put it might be: “Nothing is certain, except death … Read more

Alyssa Davies approaches money with empathy and practicality. Although she encourages people to track their spending, she believes financial success is driven more by emotions and habits than by complex math. On her award-winning blog, Mixed Up Money, she writes about shifting away from prescriptive advice that can create shame and guilt, and toward strategies … Read more

Introducing “A Rich Life,” a new column by Shaun Maslyk, Certified Financial Planner and Certified Financial Behaviour Specialist, that explores how financial psychology can help us understand our real-life money stories. Money. Money. Money… Pause for a moment and notice what you feel when you read the word “money.” That immediate reaction reveals a lot … Read more

Would Canadians have access to different account types such as GICs and self-directed investing when it comes to the new tax-free first home savings account, which is rumoured to be introduced this year? It seems this would only make sense as it’s the case with other tax-sheltered accounts (i.e. TFSA, RRSP and RESP accounts). —Rohan … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, highlights the week’s financial headlines and offers perspective for Canadian investors. Putting 2022 into context (it was pretty bad) One chart that stood out this week illustrates just how damaging 2022 was for global markets. When U.S. equity losses are combined … Read more

If nothing else, tax-free savings accounts (TFSAs) have provided plenty of fertile ground for Canadian financial writers and bloggers. Two notable examples include a Boomer & Echo post by CFP Robb Engen — also a MoneySense ETF expert panelist — comparing TFSAs and registered retirement savings plans (RRSPs), and a Cash Flows & Portfolios piece … Read more

Choosing how to save for retirement can feel overwhelming given the many investment choices available. For investors who prefer a simpler, hands-off approach, target-date funds provide a streamlined solution. These investment products let you pick a year close to when you expect to retire, then rely on professional managers to adjust your asset mix over … Read more

Can a debt collector discuss my debt with my family member? If my family member tells them that they have a copy of the letter and info about my debt and is willing to pay it for me?—Barbara What debt collectors are allowed to say With rising interest rates, inflation and increasing credit card balances, … Read more