A new poll finds one-third of Canadian households say their financial situation has worsened over the last year.
When Pablo Mhanna-Sandoval received his offer of admission for law school in the spring of 2022, he immediately started securing a student line of credit. After probing his finances further, he decided to put the debt to use by maxing out his tax-free savings account (TFSA), where he could hope to make more money from the investment than it cost to pay interest on his line of credit.
As tax season approaches one financial advisor said it’s important to take your income level into account when weighing the benefits of a tax-free savings account (TFSA) or registered retirement savings plan (RRSP).
The registered retirement savings plan marketing blitz has begun. The short-term reward is a tax refund in the spring, but there are at least three situations when it’s probably better to take a pass.
While rising interest rates may make some Canadians hesitant to use their credit card, one personal finance expert said continuing to do so allows consumers to accumulate points from loyalty programs.
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