ING Direct, Canada’s number one online bank, may be up for sale, a surprising turn of events following news that its Dutch parent company, ING Groep NV may be strapped for funds.
It’s a stark reality: according to a CIBC poll, 59 per cent of Canadians will retire while holding debt. Adapting to a fixed income can make it challenging to manage day-to-day expenses and afford extra debt payments. Here are a few key numbers to consider when planning your retirement.
It seems bank credit rating downgrades are the financial headline du jour – and it all kicked off with news of Dutch bank ING Bank of Canada receiving a hit from Moody’s last week. Why are banks the target of such slashings? As usual, European debt crisis is a contributing culprit.
Looking to hit the open road this summer? Don’t spend a fortune at the gas station as a result. We’ve got a few easy tips for staying in power at the pumps – and being eco friendly while you’re at it!
Looking to trade stocks on the go? There’s an app for that! Check out what’s to come in smartphone financial planning mobile technology.
Imagine – cutting cards and cash out of your life with a simple tap of your smartphone. While the “digital wallet” may seem a futuristic concept, technology is already offering consumers ways to streamline their everyday finances with their phones – and it’s just a matter of time before they revolutionize the point of purchase.
Wish you had a way to track your spending – and protect your savings – while on the go? With mobile technology, you can take your budget and expense tracking to another level – any time, any place. Use these apps as a guideline for what’s out there, and feel free to share your favourites in the comments section below.
After the financial meltdown of 2008, things were not 100 percent economically fantastic here in Canada, but it was nothing like in the U.S. Many of us felt pretty smug about it, really. Our unemployment levels weren’t so bad, our housing prices stayed firm and our banks were a model of efficiency and best practices. Or so we thought. Last week, the Canadian Centre for Policy Alternatives revealed that Canadian banks got as much as $114 billion dollars in secret government bailout money.
As Ontarians wait to see how the Province plans to balance its budget, a new poll finds that average Canadians are no better than politicians at managing their spending. A whopping 60.1% of Canadians are not comfortable with their current level of debt, according to an independent survey from RateSupermarket.ca, Canada’s largest impartial rate comparison service. Among the 2,929 respondents from across the country, the leading cause of debt concern by far (38.8%) is credit card debt.
Who doesn’t like free stuff? The question is rhetorical, but given that roughly nine out of ten Canadian households belong to at least one loyalty program it’s pretty obvious we really like to receive free stuff for shopping. Yet, according to a recent survey most of us aren’t all that impressed with what we are getting. Do you fall in the disenchanted camp? Then maybe you’ll find that a site like Points.com can boost your spirits.