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!
You can check out the full study – and the included video below, along with this week’s top headlines.
VIDEO: Canadians Are Willing to Switch Banks… If the Price is Right
Canadians may be a loyal bunch when it comes to the “Big 5” lenders – but even the most dedicated consumer would switch banks for significant savings. A recent survey conducted by RateSupermarket.ca, Canada’s comprehensive rate comparison site, found 84% of consumers would consider a switch – as long as they’d save an average of $644.43.
Read on for the full study AND our new video!
Ask the Experts: Should We Tear Down Our Home?
Introducing our Ask the Expert series! We’ll be answering your top finance questions – and looping in the top experts to share their wisdom. First up is a couple considering their home renovation options – should they build up, or tear down altogether? Read on for our expert’s take.
Read Rubina’s Blog | Ask the Experts: Should We Tear Down Our Home?
New Homes to Slow, Rates and Prices to Rise
Will we be seeing fewer cranes crowding the horizon in the years to come? That could be a possibility according the CMHC’s Q3 Housing Market Outlook, which forecasts new home construction will slow down over the next two years. However, that doesn’t mean prices won’t keep rising.
Read on for our report highlights – and see what’s in store for prospective home buyers.
Read Gordon’s Blog | New Homes to Slow, Rates and Prices to Rise
Are Kids of Immigrants Financially Savvier?
Are the children of immigrants financially savvier than those born in Canada? Pracheer Saran explores the phenomenon of greater financial literacy among newcomers – and what everyone can learn from frugal living practices.
Read Pracheer’s Blog: Are Kids of Immigrants Financially Savvier?
Savings Spotlight: Tax Free Savings Accounts
This savings vehicle has been making headlines as one of the most flexible ways to grow (and tax shelter) your savings. Yet many Canadians are still confused on how to use them – and how to avoid possible taxation penalties. Looking to brush up on your TFSA know-how? Check out our top links:
Check out the #RSMBreakup Movement!
Last Thursday, we hosted a little relationship counselling for Canadians frustrated with their banks’ service – and boy, did you speak up! It was amazing to connect with so many readers, fans and followers in my #RSMBreakup Twitter Chat. Did you miss the movement? Not to fear – you can relive the action here: #RSMBreakUp
This Week’s #RSMWIN!
On for a second week!
Are you financially prepared for the September spending season?