Back to school season is upon us, and many post-secondary students are already on campus, and spending their hard-won student loans. In addition to Psych 101, the college years often offer a crash course in “grown up” money management – but is generation Y really getting the message? One study finds the majority aren’t sure when they’ll pay back their student debt, while another suggests Boomer parents simply foot the bill.
Did you know: Canadians identify their “main bank” as the one where they keep their chequing account. 91% of consumers have one at their primary lender, according to our recent study. But things get foggier when it comes to why they signed up with their bank in the first place – in a recent street poll, many stated they’d been with their banks since childhood. Seems like it’s high time we explored our options for greater value!
A few reports came out this week, underscoring the knowledge gap between Canadian consumers and the state of their personal finances. An annual debt report released by BMO finds household debt levels continue to skyrocket, as consumers clamour for mortgages and cheap credit. Meanwhile, a study shows many TFSA investors still aren’t clear on their contribution rules.
Could your bank be doing better? That’s the golden question this week, as we explore bank loyalty in Canada. One survey finds Canadians value personal customer service and convenience the most, while another blogger shares his experience of leaving his bank for better savings. Would you do the same? Read on for the full story.
We’ve had a makeover! We at RateSupermarket.ca are so proud to unveil the new MoneyWise – a one-stop information centre for all things personal finance.
Would you switch banks if it meant saving money or earning better interest? Take our survey – you’ll be entered to WIN a $500 grand prize!
The search is on for greener pastures this week, as banking customers seek out the best rewards, customer service, and no-fee options for managing their cash.