Personal Finance
Personal Finance 0

Instead of a universal basic income, governments should enrich existing social programs

Posted on 19 February 2021

Amid the COVID-19 pandemic, the idea of a universal basic income (UBI) has been touted by those across the political spectrum as a prospective model of social security that would provide guaranteed cash to citizens. But while UBI is desirable in principle, it’s not a magic solution to the intricate and perennial problems of poverty and income inequality. Furthermore, its implement ...

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4 reasons why COVID shouldn’t stop you from opening an RESP

Posted on 19 February 2021

(NC) As parents worry about keeping themselves and their kids healthy this unique school year, post-secondary school plans may take a back seat. But that could be a major misstep. Here’s why you should put opening a registered education savings plan at the top of your to-do list, according to Ryan Weiss, vice-president, group customer product and experience, for Canada Life:

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Demystifying your paycheque

Posted on 19 February 2021

(NC) Whether you’re a barista in a café or working for a longstanding family business, there’s no day like payday. But with 24 per cent of employees stating that they would look for a new job after just one mistake on their paycheque, it’s important that your employer makes your pay stub accurate and easy to understand.&nbs ...

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Unauthorized credit or debit transactions can happen to anyone

Posted on 12 February 2021

(NC) More of us are using our credit and debit cards to make purchases as a result of the COVID-19 pandemic. But with incidences of fraud increasing as well, it’s important that you understand your rights if someone uses your card without your permission. You also have certain responsibilities to make sure you are protected, including taking reasonable care to keep your account ...

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1 in 3 Canadians are targets of financial fraud during the pandemic

Posted on 12 February 2021

(NC) As the COVID-19 pandemic continues, fraudsters are taking advantage of people by preying on fears and using misinformation. In fact, one in three Canadians indicated they have been targeted by attempts to obtain their financial information through phishing or hacking, according to data from the Financial Consumer Agency of Canada. Some common scams can include phone calls, em ...

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3 things parents should teach their kids about money

Posted on 12 February 2021

(NC) Parents have a key role to play in teaching their kids about money and helping them develop good money habits early. Knowledge, skills and confidence when managing money will help young people throughout their life and will contribute to stronger financial well-being as adults. When your kids reach their teen years, focusing on money matt ...

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3 smart things to do with your tax refund

Posted on 12 February 2021

(NC) Tax season is here, and many of us will be getting some money back. Perhaps one of the most important findings from new Financial Consumer Agency of Canada research is that by doing small things today, you can significantly improve your long-term financial situation, regardless of your income. Here are three small steps you can take with your refund in 2021. Pay off ...

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3 tips for saving on clothes for the kids

Posted on 12 February 2021

(NC) Between growth spurts, spills and seasonal trends, buying clothing for your children can really add up. While it’s tempting to splurge on some adorable outfits, there are smarter ways to shop and cut back on expenses. Here are some creative tips to help keep your kids looking stylish on a budget. 1. Playtime outfits Having a wardrobe that young kids can get dirty ...

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3 steps to a better financial future

Posted on 19 January 2021

(NC) If you have any concerns about your current financial situation, here are three steps you can take to help improve your outlook. Get a full financial picture. Identify all your assets and liabilities – the difference between these two is your net worth. Then, understand the ins and outs of your cashflow: the money coming ...

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Online banking: How to protect yourself from fraud

Posted on 19 January 2021

(NC) Since the start of the COVID-19 crisis, a growing number of consumers are regularly using mobile and online banking to paybill payments, transfer money and make purchases. Although these tools can give you easy access to your personal finances on demand, there are also some risks involved. For instance, your banking information—such as your debit or credit card number, user name, ...