Canada Banking

6 Reasons It's Important To Both Save And Invest

Posted 07.12.2016 | Canada Business

We list six reasons why it’s important to both save and maximize your hard-earned dollars.

Canadian Economy Largely Immune From Negative Effects Of Brexit

Yves Guillaume A. Messy | Posted 07.06.2016 | Canada Business
Yves Guillaume A. Messy

In a world of financial and economic inter-connectedness it would be foolish to suggest that there won't be any knock-on effects from the hitherto number four largest economy worldwide in its political convulsions, but from this particular writer's standpoint, Canada's economy is sailing safely going forward.

Opportunities To Save In A Day

Posted 07.04.2016 | Canada Living

It may seem like you can’t afford to save, but there are daily opportunities to be frugal.

Saving And Investing: Which One Do I Choose?

Posted 06.27.2016 | Canada Living

There are many ways to save and invest, and both are important to your financial well-being.

These Apps Will Make You Richer

Posted 06.20.2016 | Canada Living

Want to be smarter with your money? Head to the app store to find hundreds of useful programs that help track your spending and organize bills so that you can head down the path toward affluence.

Will Banks Be Run By Robots In The Future?

Kevin Sandhu | Posted 05.24.2016 | Canada Business
Kevin Sandhu

ider and consumer. We can work towards providing objective investment advice, free of vice and bias. Think of the pain and loss that could be avoided if human error and greed were removed from finance. Imagine if we could remove the weight of unmanageable debt with smarter risk assessment. What if we could help people make better decisions about their money and offer access to knowledge currently limited to high-earners and high-rollers? We can.

Affordable Payday Loan Alternatives Help End Cycle Of Poverty

Duncan Kinney | Posted 05.24.2016 | Canada Business
Duncan Kinney

We're looking at roughly 220,000 payday lending customers here in Alberta. Thankfully the NDP government here in Alberta has announced new legislation on payday lending. The government is proposing the lowest payday lending rates in the county while simultaneously fostering better alternatives to help people get short-term credit.

The Fintech Revolution Is Just Getting Started

David Lester | Posted 05.19.2016 | Canada Business
David Lester

You can now open savings and chequing accounts, manage your retirement and investment accounts and get loans online, never mind being able to leave your wallet at home and use your phone to buy everything. Here are the top companies that can take you from money 2D banking to 3D.

The Future Of Canadian Currency May Be Digital

David Leonhardt | Posted 04.26.2016 | Canada Business
David Leonhardt

Electronic money, or e-money, has arrived. It can be transferred through smart phone, tablet, computer, or other ways. This way, people can make quick payments with their phones -- even in physical settings like the grocery store. Will cards be replaced by e-money, the way cash has been mostly replaced by cash?

Budgets And Bank Statements Are The New Birds And The Bees

Wade Stayzer | Posted 03.17.2016 | Canada Parents
Wade Stayzer

The birds and the bees may not be the only difficult conversation you'll be having with your kids, discussing money and finances with your children can be just as challenging. Given the lack of mandated financial literacy courses in Canada, parents can fill the void by teaching financial concepts to their children early on.

What New Canadians Need To Know About Buying A Home

Christine Shisler | Posted 03.07.2016 | Canada Business
Christine Shisler

While the prospect of purchasing a home for the first time in Canada is an exciting and important step, many newcomers choose to rent for the first several months to a year (or longer) after their arrival. Before deciding whether to rent or buy, it's important that you know what you can afford, weigh the options available and take the time to make the right decisions that will ensure a successful future in Canada.

How Refugees And Newcomers Can Access Canadian Bank Services

Christine Shisler | Posted 02.24.2016 | Canada Business
Christine Shisler

One of the first things you'll need to do is open a Canadian bank account. This will give you a safe place to deposit and access your money whenever you need it. Canada's banking system can differ from other countries, and it takes time to understand the various types of financial institutions, bank accounts and services available.

Canada Well Positioned To Become Islamic Banking Hub: Report

CP | Alexandra Posadzki, The Canadian Press | Posted 12.23.2015 | Canada Business

"It's absolutely fundamental that the Canadian government signal that, in fact, it is open to Islamic finance."

Studying Abroad Sets Students Up For Career Success

Mandy Mail | Posted 12.09.2015 | Canada Business
Mandy Mail

Many students today are recognizing that there is more to education than lectures, essays and exams. Some of the most important lessons can be learned by investing time outside the classroom walls, in communities across Canada and around the world.

Bank Branches Built For Millennials

David Lester | Posted 10.27.2015 | Canada Business
David Lester

Money isn't about numbers. It is about people, and values, and goals. The centre of a bank or for anyone coaching people to be better with their money should reflect that. It should be like a Home Depot for finances -- we can show you and cheer you on to do it yourself or be here for the hard stuff and take your hand when you need it

5 Reasons to Convince Your Parents to Get Out of Mutual Funds

Tea Nicola | Posted 10.24.2015 | Canada Business
Tea Nicola

We've all probably met a financial advisor who told us to buy a "balanced mutual fund," and hard sold their own company's "top performing" fund. They tell a good story, but do they really have our best interests at heart?

Why Students Should Take Time This Thanksgiving to Re-Evaluate Their Finances

Mandy Mail | Posted 10.08.2015 | Canada Living
Mandy Mail

After six weeks at school, students may be surprised by how much it actually costs to live independently. When I first moved out on my own, I was amazed by all the hidden costs. Living at home, my parents covered most expenses -- from groceries to toiletries -- and I never gave it a second thought.

How Does Canada Tax My Investments?

Tea Nicola | Posted 09.25.2015 | Canada Business
Tea Nicola

Albert Einstein once said, "The hardest thing in the world to understand is income taxes." -- you can rest assured that it is not a simple subject. Taxpayers are expected to understand it well enough to be able to make good decisions about our own financial situation. But if understanding basic income tax isn't enough of a headache, the taxes on investment earnings (such as in your RRSP) represent a whole new territory.

5 Apps for a Fall Refresh

Amber Mac | Posted 09.23.2015 | Canada Living
Amber Mac

In the summer months, humans react similarly. We've been overeating, overspending, and under sleeping. Fortunately, as all good geeks know, a clean restart will often solve 99 percent of your problems. And, with a little help from some apps, you might even enjoy that autumn mist this time around.

Why More Canadians Are Looking for Alternatives to Big Banks

Steve Bolton | Posted 08.17.2015 | Canada Business
Steve Bolton

According to a recent survey more Canadians than ever are becoming dissatisfied with their bank. In fact, the survey found nearly nine per cent of respondents said they will "definitely or probably" switch banks in the next 12 months, compared with seven per cent in 2014.

A Letter to Our Daughters About Their Future Careers

Jenny Fagg | Posted 05.06.2015 | Canada Business
Jenny Fagg

As I sit and write this letter to our daughters -- our future leaders -- I recognize that women are increasingly visible in leadership roles. However we have a long way to go to achieve equality, particularly at the most senior levels of leadership.

How Canada's Banks Are Reaching Out to Millennials

Carlos de Torres | Posted 04.26.2015 | Canada Business
Carlos de Torres

A recent study found that millennials are attracted to online resources to help them manage their money and answer their banking needs. Banks have been listening to what their younger consumers are after and changing how they can offer their services.

Have You Had 'The Talk' With Your Student Yet?

Melissa Jarman | Posted 09.22.2014 | Canada Business
Melissa Jarman

Another interesting finding from the poll was that students are significantly more anxious about taking on debt than their parents think they are (69 per cent versus 60 per cent), and they're more worried about having enough money to cover expenses (71 per cent of students versus 57 per cent of parents).

Forced Selling: An Offer You Can't Refuse?

Tim Paziuk | Posted 07.04.2014 | Canada Business
Tim Paziuk

Many people are unaware that "coercive tied selling" is illegal in Canada. According to the Financial Consumer Agency of Canada, "This means that banks are not allowed to unduly pressure or coerce you into a product or service from their affiliates as a condition for obtaining another product or service from them."

Big Change Coming At CIBC

CP | Ross Marowits, The Canadian Press | Posted 06.24.2014 | Canada Business

MONTREAL - CIBC says it is eyeing big-ticket acquisitions in the United States as the Toronto-based bank seeks to boost earnings from wealth managemen...