TFSA Vs RRSP: Which Is Better For You?

Posted By  on Oct-02-2017
Contributing to both a RRSP and a TFSA is a great way to capitalise on tax advantages to grow your savings. But if you can’t afford to invest in both, which one betters favours your personal financial and tax situation? A Tax-Free Savings Account (TFSA) shares some similarities with a Registered Retirement Savings Plan (RRSP).  Read More

The Dangers Of Pawn Shop Loans

Posted By  on Sep-25-2017
When looking to raise funds fast, like for an emergency, some people result to selling some of their belongings at throw-away prices. But sometimes, selling may not get you the funds you need fast enough, so you hand over those items to a pawnbroker in exchange for an instant loan with a ridiculously high daily or monthly interest rate.  Read More

Credit Card Tips For Millennials

Posted By  on Sep-11-2017
For millennials who are just learning about credit cards and credit ratings, gaining proper understanding of the different types of credit cards and how they affect your credit rating can help to shape your financial success. Many people don’t receive enough financial information to avoid common credit card pitfalls.  Read More

Can Debt Be Inherited?

Posted By  on Aug-28-2017
When a loved one passes away, the survivors usually assume that all debts, including mortgage, loans, and credit card debt are automatically transferred to the next of kin. But this is not accurate. Generally, debts cannot be transferred through death or even marriage.  Read More

5 Myths About Bankruptcy

Posted By  on Aug-07-2017
There’s a difference between refusing to pay your debt and being unable to pay your debt. In Canada, the Bankruptcy and Insolvency Act (BIA) assumes that the debtor is “innocent,” and filing for bankruptcy is a financial rehabilitative process rather than a punitive one.  Read More

How To Deal With Tax Debt

Posted By  on Jul-26-2017
If you have outstanding tax debts, you should immediately get in touch with the Canada Revenue Agency (CRA) to work out a payment plan and avoid steep penalties. That said, the CRA is not that flexible when dealing with debtors. For instance, most penalties usually include added interest as you repay.  Read More
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