As the RESP’s subscriber (the person who opened and contributed to the account), you may have questions about how to withdraw RESP funds and what the beneficiary (the student) can use them for. Most of the RESP commentary talks only notionally about the withdrawal process....
The central bank said Thursday that its 2024 survey on payment methods shows Canadians kept an average of $156 in cash on hand, $16 more than in 2023. Adjusted for inflation, the Bank of Canada said the value of cash on hand has been “quite...
Though headline inflation rose two ticks to 1.9% in June, the Bank of Canada sees underlying inflation levels around 2.5% when stripping out volatility and tax changes that are skewing the data. Canada’s labour market is showing some weakness in tariff-exposed sectors such as manufacturing, but...
The company says its adjusted net income for the quarter ending June 30 was $117 million, up from $111 million last year. Adjusted earnings per share came in at $1.11 each, compared with $1.04 per share last year. Revenue totalled $2.03 billion in the quarter, down...
Things to note: Some cards include free airport lounge membership (like Dragonpass) but charge for each entry, so check your card’s details. Only some cards include lounge access for traveling companions, and this is most common with super-premium travel cards. Popular cards with this benefit: Scotiabank...
According to research by Ipsos Canada, commissioned by BMO, 33% of Canadians use AI technologies to stay on top of their spending and saving. But while these tools are great for growing wealth and tracking financial goals, there’s something missing—a safe, ethical, and truly supportive...
This marks the third rate hold in a row from the Bank, following similar non-moves in June and April. Prior to this, the Bank was undergoing a cutting cycle, and had slashed its benchmark rate seven times, lowering it by 225 basis points between June...
We’ll walk you through a simplified process, from understanding your debt to learning about the tools available to you and creating a budget, and ultimately, how to stay out of debt going forward. If you’re ready to get a handle on your finances, let’s get...
How can you avoid credit card fees? When you use a prepaid card for travel like the EQ Bank Card, there’s no extra foreign exchange (FX) fee or international ATM withdrawal fee added by EQ Bank, helping more of your budget go towards travel instead...
But a new generation of ETFs proudly offers nothing of the sort. Like Canadian Depositary Receipts (CDRs), single-stock ETFs hold or at least derive their performance from just one underlying stock, often a major U.S. tech brand. In contrast to CDRs, though, this isn’t plain vanilla exposure. Many...