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...
The credit reporting company said Thursday that the Global Consumer Credit File will make it easier for immigrants to access services like loans and cellphone plans in Canada by providing the additional data. “It’s really important when newcomers land that they get access...
But just because you’re on a tight budget doesn’t mean you’re stuck with your dated décor and dysfunctional layout. There are options, even for those who can’t tap into a steady flow of extra cash. Let’s explore what’s possible. Why traditional mortgages and...
Changes to the BoC rate impacts the prime rate set by Canadian lenders, which in turn affects the pricing of variable-based borrowing products, which are based on the prime rate plus or minus a percentage. Following this most recent cut, the prime...
For professional advisors like Baker Tilly Toronto, staying current in this business landscape is critical. And for insurance intermediaries, the key to thriving in this environment is to partner with experts like Baker Tilly Toronto that offer specialized expertise and strategic guidance. Steven...
In fact, Canadian savers have an abundance of good choices right now for places to earn rates of interest that will keep their money growing ahead of inflation. So, where should you put your money: in bonds, guaranteed investment certificates (GICs) or...
“The stress test was introduced to add a margin of safety to ensure borrowers could make their payments if they faced a change in circumstances—such as if interest rates go up or their income changes,” says Crawford. In 2018, the stress test was...
In 2018, the stress test was expanded to include buyers with more than a 20% down payment (those with uninsured mortgages). Since then, all Canadian home buyers applying through a federally regulated lender—as well as those refinancing their current mortgage—have been required...
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