tax-free savings account

Using a TFSA is a great way to avoid paying taxes. However, it can be a bit confusing for many Canadians, primarily due to the name. While you can put many different types of investments—like stocks … Read More

Saving for your child’s post-secondary education is one of the many financial pressures parents face. And when your child’s tuition will cost tens of thousands of dollars, you don’t want to give up a huge portion … Read More

Are you having trouble maxing out your TFSA every year? Join the club. A recent BMO survey found Canadians contributed $4,592 to their TFSA last year—a decline of 17% from 2015.

Baby boomers have been among Canada’s most efficient savers. They’ve taken solid advantage of RRSPs and corporate pension plans that require contributions from monthly paycheques. In some ways, it seems counterintuitive to look at savings opportunities … Read More

It’s a conundrum. Young people trying to make it on their own face a lot of expenses at a time when they’re not generally earning much. And, yet, the best time to start saving is when … Read More

TFSAs are a great savings vehicle, but a couple of quirks make it possible to accidentally over-contribute—a mistake that incurs tax penalties.

Baby boomers tend to complain about millennials for everything from being obsessed with food to their dislike of competition. One area where the younger generation has the ‘socks and sandals’ crowd beat, however, is when it … Read More

A lot of hard work and research came to fruition with the launch of Ratehub.ca’s newest educational tool, the TFSA Education Centre. Ratehub.ca was designed around the idea of helping Canadians make informed financial decisions and … Read More

Back in 2009 when the government established the TFSA, Ottawa figured the account would be a prime savings vehicle for younger Canadians and the more established RRSPs would stay financially fashionable for older men and women.

Thank goodness for long engagements. They provide couples with enough time to save up the cash needed to cover wedding costs—which, with destination weddings and other lavish options, have been skyrocketing since the early 2000s.