Preparing for the Worst

Preparing for the Worst

What if you lose your job and struggle to find another? What if you become ill and can’t work? Your good financial house can come crumbling down very quickly. When there’s suddenly no (or very little) money coming in, you can quickly obliterate your savings accounts and RRSPs. In this scenario you need to decide what kinds of insurance you need. Continue reading »

Are We Financially Illiterate?
Personal Finance / Personal Finance News

Are We Financially Illiterate?

Earlier this week, the Ontario Government announced that financial literacy would be incorporated into the 2011-12 curriculum, for grades four through twelve. Partnering with both the Ontario Securities Commission and the Investor Education Fund, the province wants to develop materials that will teach students the basics about money and will later help them make informed financial decisions. But why now? Continue reading »

Citizens Bank Stops Offering Mortgages
Mortgage News / Mortgages

Citizens Bank Stops Offering Mortgages

The Globe and Mail reported that Vancity’s online banking arm, Citizens Bank, will stop offering residential mortgages and focus solely on credit cards and foreign exchange services for non-retail members. This has resulted in Vancity selling the majority of its retail loans, including mortgages, personal loans and secured lines of credit, to TD Canada Trust. … Continue reading »