Canada Finance

Budgeting Today Will Set You Up For Success Tomorrow

Shaun Goolcharan | Posted 04.14.2014 | Canada Business
Shaun Goolcharan

Do you have a budget? It is one of the most fundamental steps in making your money work for you. A personal budget is a basic estimation of the revenue and expenses over a specified period of time. Whether your goal is a down payment for a new house, saving for your child's education, a dream vacation or simply retirement, a budget is the answer to helping you reach your financial goals.

Don't Get Upsold - Treat Your Bank Like a Store

Tim Paziuk | Posted 04.12.2014 | Canada Business
Tim Paziuk

Is our financial system broken or just designed to take advantage of the average person? When you go to the bank to make a deposit or pay a bill are you expecting to be sold? Probably not, but it happens all the time.

Are You Happy With the Way Quebec's Resources Are Being Used?

Amber Rehman | Posted 04.02.2014 | Canada Politics
Amber Rehman

1,000,000 people in Quebec don't file their taxes every year. If each of those people owe taxes of... I don't know... let's say $624 each (an extremely low estimate given that the average amount of taxes paid by a Quebecer is around $10,000), then I'd say an investment of $600k in "FILE YOUR TAXES" billboards, print and TV ads might have helped us to avoid this huge debt hole.

Can You Account For the Cost of Friendship?

Tim Paziuk | Posted 03.26.2014 | Canada Business
Tim Paziuk

When dealing with advisors, an important consideration is competency. If the person you're working with isn't competent, how much is it costing you? I might find that my client's banker is overcharging them or their accountant is less than adequate, only to hear them say that they can't move their business because the person they deal with is nice or maybe even a friend.

Is the Financial Sky About to Fall?

Tim Paziuk | Posted 03.06.2014 | Canada Business
Tim Paziuk

Today most people don't want to believe that the US could default on its obligations, but the simple truth is that nothing, I mean nothing, can continue to expand and not explode. It's a simple law of physics. So is the sky falling? You tell me. And if it is, how can you best prepare for it?

Have You Met Your RRSP?

Shaun Goolcharan | Posted 04.16.2014 | Canada
Shaun Goolcharan

Each year you are required to take out a portion of your savings from your RRIF, which is subject to tax, but there's no limit on how much you can withdraw. In addition you can name your spouse as a beneficiary, so RRIF assets can be transferred to your spouses' RRIF or RRSP on your death. You can't keep your savings in an RRSP forever.

The Difference Between a Mutual Fund and a Seatbelt

Tim Paziuk | Posted 03.30.2014 | Canada Business
Tim Paziuk

Like seatbelts, when it comes to public safety, the Federal Government can intervene. So why ban on Deferred Sales Charges? Quite simply, it's an issue of public safety. There is nothing beneficial to the consumer about a DSC. As a matter of fact, it's nothing more then a legalized trap created by companies that produce and market mutual (and segregated) funds.

How Climate Change Could Affect Your Pension

Kevin Grandia | Posted 02.10.2014 | Canada Business
Kevin Grandia

Is your pension fund or insurance company a leader or laggard when it comes to avoiding risky bets on the future impacts of climate change? A new survey finds that major Canadian institutional investors are not adequately taking into account the long term financial risks of climate impacts.

Taking Your Finances Into Your Own Hands

Bob Stammers | Posted 01.23.2014 | Canada Business
Bob Stammers

If you want a thing done well, do it yourself. With self-directed investment accounts, discount brokers, free online financial tools and an overabundance of online personal financial advice, it may seem like consumers today are well positioned to manage their own financial path. But access to tools doesn't necessarily mean one has the skills to use them properly.

Janet Graham's Babes on Bay Street (VIDEO)

Shannon Skinner | Posted 08.07.2013 | Canada Living
Shannon Skinner

2012-06-18-ShannonSkinner.jpg There was a time in my early adulthood when being called a "babe" seemed, well, how shall I say, contrary to the woman I was trying to become: a woman who wanted to be taken seriously in business. But not anymore. Not since I met Janet Graham, author of Babes on Bay Street, who changed my attitude.

Real Estate vs. Stocks: Which Is the Better Investment?

Jonathan Saveriano | Posted 07.08.2013 | Canada Business
Jonathan Saveriano

Unlike most other goods or services that financial assets are based on, real estate responds to an innate desire -- the desire to have a piece of this earth one can call his own. This basic yearning has been, in my opinion, the driving force of the real estate market, and the reason I continue to believe in it.

Does the Governor of the Bank of Canada Have to Be Canadian?

Robert Waite | Posted 07.02.2013 | Canada Politics
Robert Waite

We don't know for sure who will be tapped for the job of Governor of the Bank of Canada. What we do know is that the individual will be a Canadian. No other nationalities were invited to apply. But, in 2013, does such a citizenship restriction even make any sense? Or is it just another manifestation of good, old-fashioned Canadian parochialism?

Should We Be Worried About Bitcoin?

Samuel Mosonyi | Posted 06.24.2013 | Canada Business
Samuel Mosonyi

Is there an anonymous, free, and untrackable virtual currency currently making its sweep across the World Wide Web? It is not quite that simple, but Bitcoin is poised to become the next big thing in computing and finance.

IMF World Bank Meeting: Why Hot Money Is a Hot Topic for Financial Policy-Makers

Bessma Momani | Posted 06.18.2013 | Canada Business
Bessma Momani

Hot money is like a hot potato that no one wants to be caught holding. With all this money floating in the emerging market economies, domestic banks want to lend. When banks are more eager to lend, they take on risky clients. This can spell disaster.

The Next Big Thing in Funding Innovation

Steven Uster | Posted 06.17.2013 | Canada Business
Steven Uster

While it took a few years after the financial crisis for financial services start-ups to get their business models refined to the point where they can come to market they are here now, and these alternative financial services technology companies are becoming viable and increasingly common sources of financing for entrepreneurs and small businesses.

On the Mortgage Debate, Mulcair KO'd Flaherty

Michel Kelly-Gagnon | Posted 03.21.2013 | Canada Business
Michel Kelly-Gagnon

The federal minister of Finances, Mr. Jim Flaherty, made public comments and exerted pressures for Manulife Bank to withdraw its offer for a five-year-fixed mortgage rate of 2.89 per cent. NPD leader Thomas Mulcair accused Mr. Flaherty of using his position of power inappropriately. I couldn't have said it better myself.

The Cost of Borrowing From a Bank

Steven Uster | Posted 04.27.2013 | Canada
Steven Uster

The competition continues to intensify between Canadian bank and non-bank lenders to carve out their share of the $18.4-billion market for small-business loans of up to $250,000. But as entrepreneurs assess their options, here are 10 points to consider that, in addition to the headline interest rate, impact the total cost of borrowing.

The Rise of Online Pawn Shops

Steven Uster | Posted 04.01.2013 | Canada Business
Steven Uster

There's been a rise in the pawn industry as people look to sell off personal items in order to do any number of things from pay off debts to maintain lifestyle, to grow new businesses where other financing avenues are not available to them. Here are five situations where pledging personal assets as collateral can save you money.

Why CFOs Need to Care About Sustainability -- Now

Tyler Elm | Posted 01.20.2013 | Canada Business
Tyler Elm

Chief Financial Officers (CFOs) and Chief Operating Officers (COOs) are increasingly accountable for sustainability. A study by Deloitte -- Sustainability: CFOs are coming to the table -- found their accountability for sustainability had jumped sharply during the last year. Here are some of the drivers for the CFO's involvement in sustainability.

The First Step to Talking Money With Women

Deborah Nixon | Posted 01.05.2013 | Canada Business
Deborah Nixon

Women relate to each other though stories, and through this process they learn and grow. Money is one of the last taboos and is something many of us are uncomfortable discussing. Creating safe and open spaces for women to talk about money is one of the missing gaps in financial and investor education.

Do The Math: Questionable Accounting In Nova Scotia

CP | Keith Doucette, The Canadian Press | Posted 10.07.2012 | Canada Politics

HALIFAX - The Nova Scotia government has decided to launch a forensic audit of the Cumberland Regional Development Authority after the province's ombu...

Thank You, Jim, but We Already Have a Bank Tax

Neil Mohindra | Posted 07.02.2012 | Canada Business
Neil Mohindra

With growing demands that governments must increase taxes on the rich, there's a strong possibility that some participants at the upcoming G20 finance ministers meeting in Washington will take aim at the banks with renewed calls for new taxes. Yet Canada already has a bank tax in place.

The Real Story Behind Canada's Employment Numbers

Scott Boyd | Posted 12.12.2011 | Canada
Scott Boyd

For many, the improving job growth numbers were seen as a sign that the Canadian economy was back on track despite fears that the economy was tipping back towards recession. Dig a little deeper into the numbers, however, and the headline may not be as positive as it first appears. In fact, it could be downright deceiving.

Gross National... Happiness?

Andrew Cooper | Posted 12.03.2011 | Canada
Andrew Cooper

As a big idea, happiness needs to be taken seriously. As many civil society groups recognize, privileging happiness helps fill a missing "human" gap between the organizational objectives they are advocating and the needs of people on the ground.

How You Think About Money Is as Important as How Much You Have

Kathy Barthel | Posted 11.13.2011 | Canada Living
Kathy Barthel

Often it's how you think about money that is keeping you from having enough to live on comfortably. Is it better to be poor and happy than rich and unhappy? Are you optimistic that things will work out somehow? What beliefs have you developed about money and are they sound?