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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
[By Pat Mertz Esswein, Kiplinger] Financial rules of thumb circle around the internet like flotsam caught in an eddy. We scrutinized five particularly persistent ones to see how they hold up. Our conclusion: Most have merit as a starting point for setting a financial goal. But depending on your personal circumstances, you may benefit from … Read more
[By Alicia Adamczyk, Lifehacker] There is no one right answer to the omnipresent question of the basic budget, but here’s a few bits of wisdom for any financial planner.
There have been a lot of transitions in my household over the past year, with more yet to come. Some of these Big Life Events have been long anticipated and much celebrated; others have simply arrived out of the blue, and have ushered in as much joy as a bunion. One thing these events have … Read more
[By Rob Carrick, The Globe and Mail] Since early March, I have had the same $50 in my wallet (see the photographic evidence below). In the pandemic economy, electronic payments rule. Credit cards for online orders and debit or credit cards for those periodic visits to grocery or drugstores. Paying with cash is seen as … Read more
[By Rob Carrick, The Globe and Mail] Over the past few weeks, a significant number of people have expressed concern about the safety of their deposits and guaranteed investment certificates at the big banks. “We track sentiment and we are picking that up in our numbers as well,” Peter Routledge, president and CEO of Canada … Read more
[By Allison Jones, Investment Executive] Ontario introduced a $17-billion package Wednesday to support the province through the Covid-19 outbreak, including an influx of cash for the health sector, direct payments to parents, and tax breaks for businesses.
[By Canadian Press] The Bank of Canada slashed its key interest rate target by half a percentage point, dropping it to 1.25 per cent in what economists saw as a rapid response to the growing economic shock from the novel coronavirus outbreak.
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