Why Are Canadians Contributing Less to TFSAs?
Banking 101 / Growing Your Money / Lifestyle News / Personal Finance / RSM News / Savings / Savings 101 / Your Budget

Why Are Canadians Contributing Less to TFSAs?

Canadians put a lot less money into their TFSAs last year, according to a recent survey from BMO Financial Group, and most of them cite the same reason for their decision: they simply didn’t have any extra money to work with. Overall, the average person put in… Continue reading »

The Most Surprising Tip to Burn Your Mortgage Faster
Buying A Home / Economic News / First Time Home Buyers / Home Ownership / Lifestyle News / Mortgage News / Mortgages / Mortgages 101 / Personal Finance / Personal Finance News / RSM News / Savings 101 / Savings News

The Most Surprising Tip to Burn Your Mortgage Faster

High home prices got you down? Many people, particularly millennials, feel like the dream of homeownership is out of reach, especially in Toronto and Vancouver – Canada’s most expensive real estate markets. However, buying a home and being mortgage-free… Continue reading »

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 »

RRSPs: Your Essential Questions Answered
Banking 101 / First Time Home Buyers / Lifestyle News / Personal Finance News / RSM News / Saving For Retirement / Savings 101 / Savings News

RRSPs: Your Essential Questions Answered

At this time of year, it seems like the financial world is awash with information on what is a Registered Retirement Savings Plan (RRSP), the benefits of having one, and how to start one. But there are still a few planning points that Canadians either aren’t aware of or don’t know how to fully put to use… Continue reading »