Right now, we are seeing a very low-interest environment. Savers looking to earn a decent yield are finding it hard to earn high enough rates to stave off inflation, much less see any sort of solid return. If you are looking to better preserve your capital, earning a little bit more on your cash, you… Continue Reading
Category Archives: Saving
Teaching kids to save with a piggy bank
There are lots of different strategies to teach kids to save money but the classic icon for saving money is the pink piggy bank. I started to teach my kids about money and saving at the age of 2. Every child got a piggy bank and $3.41 which is a Twoonie, Loonie, quarter, dime, nickel… Continue Reading
Higher GIC Rates with Finizi
You may recall that I wrote about a brand new online service for Canadians called Finizi a few months ago. I thought I would post an update today to let you know how they’re doing. In just a few months, they’ve completed over $40 million in GIC auctions. Finizi offers a new, easier way for… Continue Reading
GIC or Savings Account?
I recently had two reasons to look up the going rates on GICs and savings accounts. I thought I’d share what I found with you today and raise the question: Is it worth it to put cash into a 5-year GIC when some savings accounts are paying almost as much while offering the same safety and… Continue Reading
5 New Year’s Resolutions that are Good for Your Wallet
The following is a guest post with some good advice to kick off 2012. Enjoy! The New Year is upon us, and for many, this time of the year signifies a time of new beginnings. People strive to better themselves by creating New Year’s resolutions, many of which are focused on health. While trying to… Continue Reading
TFSA Contribution Limit
Simplicity is the ultimate sophistication. ~Leonardo DaVinci When the Tax Free Savings Account was introduced in Canada in 2009, it was hailed for its practicality and simplicity. Any Canadian 18 years or older can now contribute up to $5000 per year to a TFSA and have those savings grow completely tax free. While TFSA contributions… Continue Reading
Introducing Finizi: A New Financial Tool for Canadians
Starting today, there’s a new financial resource for Canadians out there. It’s called Finizi. Basically, Finizi is a free online service that allows financial institutions to compete for your business. At this time they are only offering GICs, but there are plans in the works to offer competitive bidding on rates for car loans and… Continue Reading
RRSP vs. TFSA: One Last Dip into the Debate
The test of a first-rate intelligence is the ability to hold two opposed ideas in the mind at the same time, and still retain the ability to function. ~F. Scott Fitzgerald Update: Thanks to Arjun at Investing Thesis for including this article in the Canadian Personal Finance and Investing Carnival #16. Very few topics elicit… Continue Reading