Canadian Interest Rates: Planning for Change

A new report by credit monitoring agency TransUnion suggests that an interest rate increase of as little as 0.25% could negatively impact almost a quarter of a million Canadians, who would suddenly find themselves unable to maintain┬árepayment of their existing debts. Though they have remained…

So You’re Debt Free – What Next?

With hard work, perseverance, ingenuity, and help from the right groups of support and advice, we can eliminate the pressure of debt in our day to day lives. For many individuals, the road to eliminating long-term debts and all of their negative effects on personal…

Predicting Post-Secondary Education Costs

A recently released CIBC poll shows that four out of five Canadian parents could not correctly estimate the average costs of post-secondary education. As a new university and college cohort prepares to enter into student life, this data presents some worrying conclusions about the way…

What To Do About a Canada Post Interruption?

News of a potential Canada Post work stoppage has been circulating for some time, and as each negotiation deadline approaches, businesses and consumers who depend on physical mail services are often left wondering what to do. One of the most important uses of the postal…

Break Up With Your “Unitaskers”

Television personality and chef Alton Brown is famous for his wit in addition to his culinary expertise: one of his best-known segments derides the rise of “unitaskers,” those absurdly specific and single-purpose gadgets you can purchase for your kitchen. With many variations on zany and…

How a Financial Cheat Day Can Hurt Your Goals

When we set out to improve fitness goals and lose weight, the first thing we often think about is what kind of diet will help. Do we restrain calories? Carbohydrates? Fats? Sugar? How much, how little? And how to deal with the mental effort of…

Back To School: A Personal Finance Perspective

It’s hard to believe that we’re already approaching mid-August, but it’s almost time for the return to classes for the many students across all ages and levels of education. Returning to the school environment inevitably includes a slate of expenses. Primary and secondary students will…

Is Fintech Secure?

Mobile banking and financial technology firms are changing the way consumers interact with financial products and services. One of the biggest questions about newly linked finance and tech innovations is: will my money be safe? Whether it’s a contactless payment system, a cheque-cashing app, an…

Fintech, Satisfaction and the Big Five Banks

Despite the increasing availability of alternative banking and financial technology as channels for the Canadian consumer to build their wealth and savings over time, the majority of Canadians still bank with one of the so-called Big Five banks: BMO, CIBC, RBC Royal Bank, Scotiabank and…

Unexpected Financial Hardships: How To Cope

Despite our best efforts at financial planning, unexpected financial hardships may arise that make loans or credit that we expected to be able to pay back regularly and on-time simply unmanageable – be it for a short period or a longer one incurred due to…