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Category: Saving
What To Know If You’re Renting in 2024
Prime Minister Justin Trudeau recently introduced a renters protection fund and a bill of rights, which were included in the recent federal budget. Among other things, the PM said he wants landlords, banks and credit bureaus to take rental history into account when assessing an individual’s credit score. The bill of rights would give renters [...]
Tax Benefits to Claim When You’re in Post-Secondary Education
There’s always lots to learn when studying at college or university, but one of the most valuable lessons many students get is how to manage their finances and make the most of every dollar. Part of that journey is filing an income tax return for the first time and learning to take advantage of any [...]
Tax Benefits When You Have Children
As nearly anyone with children will tell you, being a parent is a truly special and wonderful thing, even if the experience of raising kids can occasionally be a little bit taxing. When it comes to paying your income taxes, however, having children offers multiple avenues to reduce your tax bill by taking advantage of [...]
Home Office Expenses You Can Claim When Filing 2023 Taxes
Nearly four years after the COVID-19 pandemic forced millions of Canadians out of their regular workplaces, a large number still work from home, whether some or all of the time. Many Canadians now have hybrid work arrangements with their employers, dividing time between office and home. The way employees claim tax deductions for home office [...]
Savings Tips for 2024
It’s always smart to work on building up your savings by putting money aside at regular intervals, then setting back and letting it grow. Whether you’re saving for retirement, a specific goal or purchase, or just want to have some extra cash in an emergency fund, boosting your savings also helps increase your financial flexibility [...]
Managing the Financial Aspects of Returning to Work After Parental Leave
Returning to work after a period of parental leave can be an emotionally tricky experience. Being back on the job means rejoining a professional, adult world of interactions and expectations, a far cry from baby-focused life. Of course, it’s tough to give up the comforting habits and routines of parental leave, not to mention missing [...]
How Much Do You Need to Retire, and How Do You Get There?
Imagine how great it would be to know exactly how much money you’ll need to retire. What if you could calculate an amount, down to the dollar, that would definitely be enough for you to stop working and start doing whatever you want? Needless to say, real life isn’t so simple, and circumstances either unforeseen [...]
How to Budget to Move Out on Your Own
Whether you’re leaving home to attend a post-secondary institution, take a job somewhere, or simply because it’s time to spread your wings and leave the nest, moving out on your own is always an exciting time. Along with all the emotions, this exhilarating adventure also comes with its fair share of serious financial obligations and [...]
Three Ways Gen Z Can Start Planning for Retirement
It’s never too early to begin planning for retirement, even if you just joined the workforce and started earning a regular income. Sure, the idea of leaving work might seem remarkably distant right now, but that’s exactly what makes now a good time to start saving—you’ve got decades and decades ahead to benefit from putting [...]
How to Save Money for Your Wedding Day
There’s something wonderful about sharing love and happiness with the most special person in your life on a picture-perfect wedding day and having all your friends and relatives there for the party. As nice as it is, that single day of special celebration is often seriously costly. Some couples turn to alternative dates and locations [...]
Are You Keeping Too Much Cash in Your Chequing or Savings Account?
It may sound counterintuitive, but it’s not considered a good idea to stash too much cash in your chequing or savings account. In fact, it’s generally unwise to have too much cash (or equivalents) in your portfolio, period. That’s not to suggest you should avoid accumulating money. Far from it. Rather, the point is to [...]
Home Office Expenses You Can Claim When Filing 2022 Taxes
Many offices and workplaces across Canada are busier with people these days than at any time since the start of the COVID-19 pandemic. Lockdown life, one hopes, is now permanently a thing of the past. Even so, millions of Canadians still work from home much of the time and did for a majority of 2022. [...]
20 Financial Resolutions to Make for 2023
With another New Year on the horizon, it’s a time to think about what we’d like to achieve and accomplish in the months ahead. It’s common to make resolutions related to personal goals, such as improved physical health, or learning a new skill. Somewhat less common, but certainly no less important, are resolutions related to [...]
Tips for Saving in a Volatile Market
We’re in the midst of an ongoing global market correction, and no one knows for sure when the decline will stop or what kind of recovery will follow. Through 2022 so far, leading global stock market benchmark indexes are broadly down, some 20 per cent or more. Making matters worse, strong economic headwinds stemming from [...]
Tips for Managing Finances After Graduation
Graduating from college or university and heading out into the great wide world is a truly exciting time, full of promise and potential for a bright, unwritten future. As you start this new stage of life, you may have some questions about how to handle your finances moving forward. How important is it to pay [...]
Five Ways Students Can Earn Money this Summer
Whether you’re already in college or university, or just finishing up high school, most students have one thing in common: they’re looking for ways to earn some money. Whether it’s to pay for books and tuition, or they just want extra cash for fun nights out with friends, students of all ages are looking for [...]
Budgeting for a Baby
There are few things in life as special as welcoming a new baby. Whether you’re becoming a parent for the first time or adding another child to your family, it’s a wonderful and joyous occasion. Still, while you may be over the moon with your little bundle of joy, it’s worth remembering how big a [...]
How to Save Money for a Summer Getaway
As spring arrives, and pandemic-related travel restrictions continue to ease, the idea of a summer holiday might start to feel rather appealing. Still, with demand about to skyrocket and fuel prices soaring higher than ever, your vacation plans might just come with a hefty price tag. If you need to save some money to afford [...]
5 Tips to Save on Your Taxes
Tax-filing season is here again – the Canada Revenue Agency started accepting 2021 income tax returns on February 21, and most Canadians have to file their return and pay any balance owing by April 30. Financially savvy Canadians are always looking for ways to reduce their tax bill. Whether it’s with tax credits and deductions, [...]
5 Tips for Retirement Planning for Late Starters
With so many factors beyond our control, saving for retirement can sometimes be seriously stressful. That stress is higher still for those people who have fallen behind on saving for their future, and don’t have as many decades left to build up their wealth. While leaving it late is definitely not ideal, you don’t have [...]
How to Generate Different Sources of Income
Most of us earn one income at a time, while others have a handful of sources. Perhaps not surprisingly, multiple income streams are a common characteristic among many high-earners and high-wealth individuals. Rich or poor, however, more income always brings the same thing: better financial security.
Personal Finance Goals to Set in 2022
With January just around the corner, many of us are making resolutions for the year ahead. Working to change our habits and establish new behaviours can be challenging, but also invigorating, especially when we see positive outcomes. It’s common to start January by pledging to achieve better physical fitness or improve our diet. One avenue [...]