Being A Smart Canadian
The Toronto Star recently ran a column on Canadian bank savings accounts. While the column is not complete in terms of defining which account offers the best return, it is a handy tool. Here is the summary of the article. It’s tough to find a good interest rate on your savings these days. The big [...]
SOURCE: THE GLOBE AND MAIL It’s better to have some cash in your jeans than to wait for the trip of your dreams. Call it the show-me-the-money approach to credit card rewards. A growing number of people are using cards that generate cash rewards paid every year instead of trying to accumulate travel points [...]
SOURCE: THE STAR My 78-year-old mother is incredibly organized, particularly when it comes to her finances. She keeps all of her income tax receipts in one folder, along with information about her investments, property taxes, and her medical expenses. That’s a huge help when it comes to income tax time. If you’re caring for an [...]
SOURCE: THE STAR Four major Canadian banks have slashed their mortgage rates to 2.99 per cent – temporarily – in a bid to win more business as the housing market cools. Royal Bank of Canada was the latest to join the fray late Thursday, after Bank of Montreal fired the first salvo a day earlier [...]
Source: The Toronto Star Mastering your income tax return is not as tough as it seems, even though it’s tough to be an expert at something you only do once a year. Whether you decide to pay for income tax help, or do it yourself, getting your tax return right has never been more important. [...]
Source: The Toronto Star/ Moneyville Home buyers are often advised to set aside one-to-three per cent of the purchase price of their house for closing costs. These fees are explained during the home buying process, but it is helpful to ask questions so you fully understand how these costs can affect your budget. Legal fees On [...]
Source: The Toronto Star/Moneyville Paying off your mortgage early seems like great financial planning since you’re freeing up money that can be put towards savings. But discharging a mortgage early can mean a prepayment penalty because the bank loses money. If you had a two-year term and paid the mortgage in full after 16 months, the [...]
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