Personal Finance
Personal Finance 0

Are rent-to-own plans right for you?

Posted on 18 June 2019

(NC) The warmer weather is here, which might mean it’s time to refresh your home with a new outdoor sofa or an air conditioner. Or it might mean shopping for a new car. You may be considering different payment plans, one of which is rent-to-own. What is a rent-to-own plan? One route some consumers look at is rent-to-own. These options are also known as lease-to-o ...

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Credit card fraud is increasing —what to do if you're scammed

Posted on 18 June 2019

(NC) With new technologies making our personal and financial information more accessible to fraudsters, Canadians are increasingly worried about fraud and identity theft. According to a new survey conducted for Chartered Professional Accountants of Canada (CPA Canada), 70 per cent of us are more concerned about fraud today than we were five years ago. Meanwhile, almost one in five ...

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4 tips to help protect yourself from investment fraud

Posted on 18 June 2019

(NC) Investment fraud is easier to recognize when you know what it looks like. To protect your money and achieve your financial goals, it’s important to stay ahead of scammers. You can minimize the risk of falling victim to investment frauds by spotting common red flags, including: High returns with low risk. In general, higher-risk investments offer high ...

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5 scams fooling even the smartest victims – how to protect yourself

Posted on 18 June 2019

(NC) Think you can’t be tricked be the latest frauds and hacks? Companies continually work harder to protect your data from attacks, but fraudsters are also working harder to access it, which can leave your personal and financial information at risk. “Even as technology advances to make our lives easier with things like thumbprint, voice and facial recognition, we cannot afford ...

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Financial Checklist For Canadians in 2019

Posted on 18 April 2019

he first month of the year is a good time to start planning your finances and taking charge of your money. Waiting till the end of the year before implementing your savings and investing plans means that you have allowed 12 months to go by without utilizing compound interest to your advantage. Financial Steps To Take in 2019 As you move to implement your Ne ...

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The ins and outs of tax and estate planning for a RRIF

Posted on 18 April 2019

Q: I’m 81, single, female, with around $265,000 in a RRIF (invested in two different financial institutions, both mutual funds).  My withdrawal is about $12,000 a year. How can I minimize tax payable (by my beneficiaries) at death? — Lydia A: The tax savings and deferral from contributing to a Registered Retirement ...

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What to do when financial advisors don’t live up to their promises

Posted on 18 April 2019

Q. My husband and I had a combined investment portfolio of about $750,000. We agreed to a 0.75% fee to our advisor, which amounted to $5,600 last year. Despite that cost, our portfolio is now worth $732,120. This advisor claimed that 4% was his expected gain for us, and he has fallen far short. Any advice would be appreciated. Dana A.

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How will a pension buyback impact your income tax return?

Posted on 18 April 2019

Q. I plan to do a pension buyback for my service with the Government of Canada. Can I deduct the lump sum payment from my total income if I fully pay the amount at once? And will the total income reported on my T4 be reduced if I choose to deduct a certain amount from each pay stub? Looking forward to your reply. Thank you.
— Alice A.

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Top 10 Largest Banks In The World By Total Assets

Posted on 03 April 2019

Banking institutions are an integral part of the world economy. They have been around for centuries, and will probably be here for a long time. Here we take a look at the top 10 largest banks in the world. The ranking is based on data from S&P Global Intelligence, which publishes a report on global banking and financial services every year, ranking the world’s 100 largest ban ...

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High school students with financial issues can turn those woes into cash with essay-writing contest

Posted on 03 April 2019

What was the dumbest thing you ever did with your money? Fessing up to their moronic money moves in an essay contest has earned hundreds of Canadian students big bucks. The contest for Grade 12 students is held every fall during Credit Education Week Canada. Credit Canada Debt Solutions and Capital One partner with other sponsors to award university scholarships to writers who best o ...