Fees Charged on Mutual Funds

Fees Charged on Mutual Funds

If you’re an investor with average knowledge of the markets, chances are you’ve put most of your money into mutual funds. Makes sense: these funds diversify your investments and put your money into a large pool with others. The biggest criticism of mutual funds is that the fees, most of them hidden, eat away at your investments. A number of studies have shown that in Canada we pay some of the highest mutual fund fees in the world. Here’s a breakdown of what the fees are and what they’re used for. Continue reading »

Mutual Funds 101

Mutual Funds 101

Most of us who invest, or have retirement money in something like an RRSP (registered retired savings plan) or TFSA (tax-free savings account) have much of our savings in mutual funds. It’s a word we toss around all the time when we visit our bank or financial advisor. But how many of us truly know what they are? Continue reading »

Update from my Financial Literacy Week pledge
Personal Finance / Personal Finance News

Update from my Financial Literacy Week pledge

Way back at the beginning of the month, in celebration of Financial Literacy Month, I took the pledge. In fact, I took a few pledges. My pledges involved making a change (a big one, in my case), fixing a problem and acquiring knowledge. Here’s what I pledged to do: Look into reducing my monthly banking fees; Save money by eating from home more often; Speak with a financial advisor and/or small business accountant to prepare for the upcoming tax year. Are you curious to see if I followed through? Here’s what I did. Continue reading »