What is slowing Canada’s economy down? What’s growing? The manufacturing sector was the largest drag on the economy, followed by utilities, wholesale and trade and transportation and warehousing. The Stats Can report noted shutdowns at Canada’s two largest railways contributed to a decline...
Image courtesy of Wiley Recently, Michael helped to update the Canadian version of Personal Finance for Dummies (7th edition), a comprehensive guide to everything from budgeting and spending to taxes and retirement. Below, he shares his own money experiences and what he thinks...
While younger investors tend to be more optimistic about and willing to invest in crypto, according to the Chartered Financial Analyst (CFA) Institute, their family members may have concerns about it—especially given the fall of a few major crypto firms, including FTX—last...
What happens at the end of a car lease There can be unpleasant surprises at the end of a leasing term, Wallcraft added. The vehicle will be examined carefully for any damage, and if you exceeded the mileage outlined in the contract, you’ll...
I went for a five-year fixed, 25-year amortization rate of 5.89% (the lowest rate at the time). The Bank of Canada has cut rates four times since then, and if I had waited a few more months or gone for a variable-rate mortgage, my payments...
A Canadian retiree’s main decision with this Sun Life product is the age they want the funds to last until (the maturity age). They can choose from 85, 90, 95 or 100 (or select a few with a combination of ages); but...
An example may help put this concept into context. Say, you had $10,000 to contribute to either a TFSA or an RRSP. If you contribute the full amount to a TFSA, and it grows at 5% per year, it would be worth...
While some financial advisors recommend the 50-30-20 rule, where 50% of your pay goes to fixed expenses, 30% to discretionary and 20% to savings, putting aside just 10% of your take-home pay for savings is OK, too. “We can be as efficient...
This way of thinking about a company’s value isn’t necessarily new. Ray Kroc, the founder of McDonald’s, is said to have once asked a group of MBA students to tell him what business they thought he was in. They volunteered that he...
Despite these setbacks, CPKC posted an income gain of 7% year over year. The four categories that made the most impact were grain, energy, plastics and chemicals, and they grew revenues by 11%. CPKC says the shipment of wheat to Mexico from...