According to the July 2024 Consumer Price Index report from Statistics Canada, the shelter factor of the CPI rose by 5.7% year-over-year, outpacing the overall inflation rate of 2.5%. This is an ongoing trend—shelter costs have continually been one of the key...
Before heading to school, Kinsey acquired her first credit card, an Alterna Savings Cash Back Visa. Although she also banks with EQ Bank, her primary bank card was with Alterna Savings and Credit Union. “So it was kind of natural and the...
Dramatic gains are possible, but so are devastating losses, and investors should understand crypto’s wide-ranging risks. Here’s an overview of crypto volatility risk, technology risks, regulatory uncertainty and other issues that could affect the value of your investment. Price volatility Cryptocurrency prices can fluctuate...
Borrowing to invest can be risky. It can magnify your returns, as well as your losses. The best candidate for leveraged investing is someone with a high risk tolerance, a long time horizon and low investment fees. Leveraged investing for the short term...
“It is going to put the dream of home ownership in reach for more young Canadians,” Freeland told reporters Monday, announcing changes she said will come into force in December. How much do Canadians need for a down payment? The price cap for insured...
In just the first half of 2024, investment scams conned Canadians out of nearly $107 million—almost half of that ($51.6 million) via cryptocurrency scams, according to the Canadian Anti-Fraud Centre (CAFC). Crypto investments are the top type of investment scams reported to...
The Bank of Canada also has a mandate to keep inflation, as measured by the CPI, within a target range. Since 1993, the Bank and the federal government have agreed that the Bank will adjust its interest rates to maintain year-over-year CPI...
The difficulties facing newcomers to Canada with respect to retirement planning are particularly acute. Given how Canada’s immigration points system works, economic immigrants are usually in their late 20s or early 30s—and they face unique challenges: Depleted savings: If you’re a 30-year-old newcomer,...
What is the legal age to work in Canada? The legal age to work in Canada depends on the province, industry and type of work. Some jobs for youth may require a work permit and parent/guardian consent regardless of immigration status, such as...
Even if you’re simply buying, trading and selling crypto as an investment, the CRA might still view your earnings as business income—especially if this is something you do frequently with the intention of turning a profit. Some of the factors the CRA considers...
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