The recent Ipsos poll conducted on behalf of MNP Ltd. paints a worrisome picture of the financial health of Canadian households. With more than half of Canadians indicating that they are only $200 or less away from not being able to make ends meet, the implications for the economy are far-reaching. This article delves into…
Personal Finance
In the vast landscape of Canadian finance, one often stumbles upon the enigmatic entity known as the "void cheque." From its peculiar name to its mysterious purpose, this humble piece of paper holds significant influence within the Canadian banking system. Today, we embark on a journey to demystify the void cheque, unveiling its essence and…
In today's fast-paced financial landscape, managing your money efficiently is essential. Whether you're setting up direct deposits, authorizing automatic bill payments, or simply verifying your account details, void cheques play a crucial role. Among the various financial institutions in Canada, TD Bank stands as a reputable choice for many Canadians. In this comprehensive guide, we…
In the realm of personal finance, having a solid understanding of banking procedures and tools is essential. One such tool that holds great importance for Canadians is the Desjardins void cheque. Whether you need it for setting up direct deposit, linking accounts, or verifying your banking information, a void cheque can be a powerful ally.…
As interest rates in Canada have recently surged to 4.75%, homeowners and potential buyers are faced with the implications of a higher cost of servicing mortgage debt. This will be amplified by the fact that rates are still below historical norms and may very well head much higher. This article explores the impact of rising…
Canada experienced an unprecedented period of historically low interest rates from 2009 to 2020. However, as we move into an era of rate hikes after rate hikes, it is important to recognize that this low interest rate environment was actually an outlier and to prepare for the future. This analysis aims to shed light on…
With credit card interest rates soaring above 20% in Canada's current interest rate environment that has seen even the Bank of Canada’s rate jump at 4.75%, credit card debt has become a pressing concern for consumers. This post explores the implications of rising interest rates on credit card debt and provides actionable strategies to effectively…
In the wake of the Bank of Canada's recent decision to raise interest rates to 4.75%, Canadians find themselves facing a new, harsher financial reality. With higher costs associated with borrowing money, it becomes very important for individuals to prioritize debt reduction strategies. The following article will provide you with actionable tips and insights on…
As a homeowner, one of the biggest financial decisions you will make is how much mortgage you can afford. With rising interest rates and a still-mostly-growing real estate market, many Canadians seem to still want to jump into the housing market. However, it is essential to have a realistic understanding of what you can afford…
When it comes to financial planning, one of the most significant expenses you will face is housing. Rent is a crucial aspect of your budget that you need to get right. However, determining the right amount to spend on rent can be a challenging task. In this blog, we will explore the various factors that…