RRSP Penalties: Fewer Canadians Contributing
Economic News / Growing Your Money / Lifestyle News / RSM News / Saving For Retirement / Savings 101 / Savings News

RRSP Penalties: Fewer Canadians Contributing

More than a third of all Canadians are withdrawing their RRSPs early, with many using the money to pay down debt or for basic living expenses, according to BMO’s annual RRSP study. At the same time, fewer Canadians plan to contribute to RRSPs this year in comparison to last. Continue reading »

How to Save at the Pump During the Winter
Car Insurance 101 / Economic News / Personal Finance / RSM News / Savings News

How to Save at the Pump During the Winter

Winter driving can take quite a toll on your car (pun intended). Not only is it messy, slippery, and slow – it can also be very expensive. The U.S. Environmental Protection Agency (EPA) has reported that a drop in temperature from 24°C to 7°C can increase fuel consumption by 12 to 28 per cent. Continue reading »

Cost of Mortgage is Going Up: CMHC Hikes Mortgage Insurance Premiums
Economic News / Lifestyle News / Mortgage News / Mortgages / Mortgages 101 / RSM News

Cost of Mortgage is Going Up: CMHC Hikes Mortgage Insurance Premiums

If you’re applying for a mortgage with a small down payment, be prepared to pay a little more every month for default insurance. The Canadian Mortgage and Housing Corporation recently announced it will increase the premiums for ‘mortgage default insurance’ (also called mortgage loan insurance) effective March 17, 2017… Continue reading »

How to Improve Your Credit Score – Post-Holiday Edition
Credit Card Debt / Credit Cards / Economic News / Lifestyle News / RSM News / Using Your Credit Card / Your Credit Score

How to Improve Your Credit Score – Post-Holiday Edition

In January, people tend to cut back on certain expenses as they rehabilitate their credit and make up for overspending during the holidays. Less shopping, less restaurant visits, less entertaining… The effects that overspending have on lifestyle are usually pretty apparent… Continue reading »