Retirement is a life chapter that many will spend decades planning for using a Registered Retirement Savings Plan (RRSP). RRSPs have been a staple of Canadian personal finance since 1957. Since then, financially savvy Canadian citizens have taken full advantage of the exceptional tax benefits that this savings program provides. To add icing to the personal finance cake, RRSPs can also hold various types of investments along with savings—all of which can grow tax-free.
High-interest savings accounts provide a great vehicle for long and short-term savings, with many of the best high-interest savings accounts in Canada offering interest rates over 2%.
Tax-Free Savings Accounts (TFSAs) are investing tools designed to shelter your savings from taxes. While its name implies that it is a savings account, TFSAs are accounts that keep your investments and the interest that they earn tax-exempt.
Almost everyone knows they should have an emergency fund in case something unexpected happens. Potential job loss, health problems that keep you from working, and unplanned home or car repairs are just a few of the … Read More
We know – it’s not even mid-September and the stores are full of Halloween decorations and costumes. It seems a bit premature to be thinking about everything pumpkin spice, so why even bother thinking about Christmas? … Read More
*Rates current as of May 17, 2019. So you haven’t managed to save double your salary by age 35. Whether this makes you laugh, roll your eyes, or question every decision you’ve ever made, everyone’s ability … Read More
When you need a place to hold your money for a short period of time, one of the best places to stash your cash is in a savings account. But sometimes the account you have doesn’t … Read More
Finding savings accounts that offer an unlimited number of free withdrawals isn’t easy unless you use a smaller financial institution.
When looking for a financial provider that offers high interest savings accounts, you may think one of Canada’s Big Five banks are the way to go. This isn’t always the case—even though they dominate the Canadian marketplace, … Read More
If you’re looking for a high-interest savings account, one of the most important factors is the interest rate. It’s also important to consider what services are included and which charge a fee. Lastly, when looking at … Read More