Millennials face challenges dealing with inheritance

Shawnette Fraser of TD Canada Trust says its important to remember that there are emotions at play

Millennials face challenges dealing with inheritanceShawnette Fraser is district vice-president of Calgary North for TD Canada Trust. How big of a market is the millennial generation these days for Canadian financial institutions? Fraser: Millennials make up a large portion of our population, and as customer service-based business we need to be looking to how we can best support them in their…

Canadians expect to spend more this Christmas shopping season

Many shifting back to in-store shopping, says new report from PwC Canada

Canadians expect to spend more this Christmas shopping seasonChristmas will soon be here and in many ways the shopping season has already begun. A new report says Canadians will spend an average of $1,563 this Christmas shopping season, a 3.7 per cent hike over the previous year. According to PwC Canada's 2018 Holiday Outlook report, eight out of 10 Canadians plan to spend…

Canadian Tire loyalty program adding Husky gas stations

Triangle Rewards is a no-fee loyalty program associated with Canadian Tire, Sport Chek, Mark's and Atmosphere

Canadian Tire loyalty program adding Husky gas stationsCanadian Tire is expanding its Triangle Rewards loyalty program to include Husky gas stations in the country. The company announced on Wednesday that this will give Canadians the ability to earn more electronic Canadian Tire Money (CTM). “We're thrilled to partner with Husky and expand the reach of our loyalty program, adding more than 400…

Home equity lines of credit untapped by Canadian homeowners

But CMHC warns that tapping into your home equity can lead to greater indebtedness and wealth erosion

Home equity lines of credit untapped by Canadian homeownersAbout one in three home equity lines of credit (HELOC) are untapped in Canada and balances are significantly below the maximum available borrowing limit, according to a report released on Tuesday by Canada Mortgage and Housing Corp. CMHC said more than three-quarters of household debt is backed by real estate. It cited data from Equifax…

Canadian average net worth growing but interest rates a challenge

‘Canadians paid $9.0 billion more in interest charges in 2017 than they did the prior year,’ says Environics Analytics report

Canadian average net worth growing but interest rates a challengeAverage household net worth in Canada continues to grow but higher interest rates are putting increased pressure on discretionary spending, according to a new report released Monday by Environics Analytics. “For many Canadians the rising interest rates over the past year have already cost them the equivalent of an extra mortgage payment,” said Peter Miron,…

Canadians hold $1.69 in debt for every $1 of disposable income

Household credit market debt totalled $2,166.0 billion in the second quarter

Canadians hold $1.69 in debt for every $1 of disposable incomeCredit market debt as a proportion of household disposable income continues to increase in Canada but at a slower pace, according to a report released on Friday by Statistics Canada. The federal agency said household credit market debt (consumer credit, and mortgage and non-mortgage loans) totalled $2,166.0 billion in the second quarter. Mortgage debt reached…

Buying or renting a home – what’s the best choice?

The cost of renting will increase more rapidly than the cost of homeownership: report

Buying or renting a home – what’s the best choice?It’s the million-dollar question many Canadians will face. Should I buy or rent a home? Well a new report by Mortgage Professionals Canada suggests homeownership is an affordable alternative as rent costs rise. “The report demonstrates that the money Canadians are spending on monthly rent, if used instead to finance a home, would be a…

Canadians pay a whopping 2,112% more in taxes now than in 1961

We pay more in taxes than we do for life's basic necessities like housing, food and clothing

Canadians pay a whopping 2,112% more in taxes now than in 1961Think you’re paying way too many taxes these days? A report released on Tuesday by Canadian public policy think-tank the Fraser Institute supports that sentiment. Its Canadian Consumer Tax Index found that the average Canadian family spent 43 per cent of its income on taxes in 2017. It said the total tax bill of the…

Save money, avoid outrageous phone bills when travelling abroad

New CRTC rules mean Canadian providers must now unlock your phone, making it easier to use a different SIM card

Save money, avoid outrageous phone bills when travelling abroadFor many people, smartphones have become 24/7 appendages. However, worried about outrageous phone, data and roaming fees, many people reach for the off switch when travelling. This is particularly true when going out of country or overseas. No one wants to return home to massive cellphone bills. But rules and regulations are starting to change,…

The hard truth about CPP’s failures

Canadians receive meagre rates of return on CPP contributions and the program has other key shortcomings

The hard truth about CPP’s failuresBy Charles Lammam and Hugh MacIntyre The Fraser Institute Misperceptions plague the public’s view of the Canada Pension Plan (CPP), despite efforts to provide some clarity. Mark Machin, chief executive officer of the Canada Pension Plan Investment Board (CPPIB) – the organization tasked with investing CPP contributions – recently hit the road in a cross-country…
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