Wise Bread Picks ShareThis For those who are caring for their aging parents and raising kids at the same time, it can often seem like there’s never enough time, money, or energy to provide for all the family members who need you. In particular, handling finances when two different generations are relying on you can…
If you’re opening an RRSP for the first time, consider the pros and cons of different accounts to understand what suits you best. For example, some accounts pay interest on deposits or offer guaranteed investment certificates (GICs), while others allow you to invest in other financial instruments like stocks or bonds—more on that later in…
Wise Bread Picks ShareThis Financial independence can mean different things to everyone. A 2013 survey from Capital One 360 found that 44 percent of American adults feel that financial independence means not having any debt, 26 percent said it means having an emergency savings fund, and 10 percent link financial independence with being able to…
After reporting your income, you will list your deductions. A deduction reduces your total income. For example, if you have a total income of $100,000 and you have total deductions of $10,000, your net income will be $90,000. Common tax deductions include: RRSP (registered retirement savings plan) and FHSA (first home savings account) contributions Elected…
Your Money Working Harder ShareThis Over the last decade, the rising cost of new and used cars have driven up the amount of the average car loan. To make up for this, auto lenders have started offering longer car loans that let consumers borrow more with a lower monthly payment. The State of the Automotive…
Wise Bread Picks A key financial decision people struggle to make is how to allocate savings for multiple financial goals. Do you save for several goals at the same time or fund them one-by-one in a series of steps? Basically, there are two ways to approach financial goal-setting: Concurrently: Saving for two or more financial…
Wise Bread Picks ShareThis The last few weeks, I’ve been covering my eyes before I look at my investments, and only peeking through my fingers — as if I’m facing Freddy Kruger rather than a series of numbers. It doesn’t help that the financial headlines are full of frightening potential futures: a possible recession, trade…
Wise Bread Picks ShareThis You have all kinds of financial goals you want to achieve, but where should you begin? There are so many different aspects of money management that it can be difficult to find a starting point when trying to achieve financial success. If you’re feeling lost and overwhelmed, take a deep breath….
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Mortgage rate comparison tool Shopping around for the best rate can save you thousands on your mortgage. To instantly compare rate types and terms, click on the filters icon beside the down payment percentage in the Ratehub mortgage rate finder below. Input your location, the price of the home you want to purchase and your…
