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[From Get SmarterAboutMoney.ca] Are you somebody who is comfortable with change? Or do you prefer things to stay the way they are? The field of behavioural insights shows that people have a general tendency to prefer to stick with the current state of things, rather than change course. This is a behavioural bias known as … Read more
[By Genna Contino, CNBC] I spend most days speaking with finance experts to inform the stories I write. After losing my wallet, I decided to ask a few sources what course of action I should take to protect my money and identity.
[By Jonathan Got, Advisor.ca] Only 20% of finfluencer content containing investment recommendations has disclosures of any kind, a study by New York-based CFA Institute finds.
[By Sammmy Hudes, published on Investment Executive] FSRA, an independent regulator, says there are almost 200,000 pension plan members in the province who have lost track of their plans, with more than $3 billion in associated benefits “stranded.”
[By Advisor’s Edge] Canada’s banks have suffered losses since the collapse of Silicon Valley Bank (SVB) and the ensuing liquidity crisis, but the damage is not expected to be significant, a report from DBRS Morningstar says.
[By Jennifer Cook, for Financial Independence Hub] As Canadians face year-end decisions on investments, taxes, and RRSPs, we at Co-operators have identified common gaps in financial preparedness stemming from the spread of money myths. There are many myths that can derail planning, but I’d like to talk about the top seven and offer a remedy in … Read more
[By Colin Graves, RetireHappy] When you need to borrow money, your lender may present you with the choice between a loan or a line of credit. While both credit products can accomplish the same goal, they have several differences, and one is often more suitable than the other.
[By Bianca Bharti, Financial Post] The Bank of Canada delivered a steep hike of the overnight interest rate on July 13 as it wrestles to get decades-high inflation under control. Governor Tiff Macklem and his deputies raised the policy rate by a full percentage point, bringing the interest rate up from 1.5 per cent to … Read more
[By Linda Leatherdale, The Toronto Sun] What a cruel joke to play on cash-strapped, pandemic-weary Canadians. Effective April Fool’s Day, our elected officials in Ottawa are giving themselves fat-cat pay raises. Calculations by the Canadian Taxpayers Federation show Prime Minister Justin Trudeau, who earns a whopping $365,200 a year, will get an extra $6,400. Backbenchers, … Read more
Changes to deposit insurance took effect on April 30th, adding foreign currency deposits and term deposits of greater than five years to CDIC’s coverage framework. “These changes demonstrate that CDIC is keeping pace with how Canadians bank and save, so they have even greater assurance that their hard-earned money is protected at any of our … Read more
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