…for everyday financial transactions including getting paid, paying bills, and putting aside money. Both accounts are safe places to put money that you plan to spend soon. Money in these…
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What is a TFSA and how does it work?
…penalties for breaking TFSA rules? Summary What is a TFSA? A tax-free savings account (TFSA) can hold either savings or investments, or both. It is tax-sheltered, which means your savings…
MISSING OUT: Millenials and the Market
…research on retail investor behaviour. 4 in 5 Millennials are Saving, but only 1 in 2 Millennials are Investing. Millennials tend to start saving from a young age, and many…
How Registered Retirement Income Funds (RRIF) work
…Retirement Income Fund (RRIF) is an account you open when you transfer money from your Registered Retirement Savings Plan (RRSP). Transfers from other registered plans like pension plans and DPSPs…
What is a GIC and how does it work?
…term length. 2. Decide if you want to lock in your money – Is there a chance you will need your money early? Most GICs lock your money in for…
How can you make money from investing?
…make money from investing, how your investments might be taxed, and how you can manage risk. On this page you’ll find How does your money grow when you invest? How…
Other types of workplace savings plans
…plans you may have access to. There are four main types of workplace savings plans, including: Employee Savings Plan (ESP) – is not a registered savings plan – investment earnings…
Saving money
Ways to contribute to an RRSP
Registered Retirement Savings Plans (RRSPs) are savings plans designed to help Canadians save for retirement. Your RRSP contributions can be put into investments or savings deposits while in the plan….
Anchoring effect: How meaningless information can affect your financial decisions
…they are saving money, even though they’re still spending. In some cases, discounts can cause people to spend more money, not less. Investing – When asked to evaluate the fair…