In observance of Canada Day, we’re taking a look at the average Canadian household and how they spend their money. Check out this infographic to see what proportion of their earnings go to essentials like food, housing, transportation and fun stuff such as books, booze and games of chance!
Ever wonder why Canadians get so excited crossing the border to go shopping? The main trigger is usually when the Canadian dollar (CAD) is at par with the USD, but even if it isn’t, there are plenty of other reasons to skip across that line.
In Canada, there are two paycheques you can receive from the government in retirement: Canada Pension Plan (CPP) and Old Age Security (OAS). Most Canadians will receive these cheques so when it comes to retirement planning, it is very important to be aware of how these programs work and how much they pay.
One of the safest savings vehicles in the United States is the Certificate of Deposit, or CD. In Canada, the equivalent of a CD is a Guaranteed Investment Certificate, or GIC. And while GICs are just as exciting as CDs (don’t bring the subject up during cocktail hour, in other words, unless you want to get rid of an unwanted company), they do have their place in a portfolio. Here’s what you need to know about them.
Every year, we resolve to lose weight, eat healthy, excercize, quit smoking… you get the idea. But while our bodily well-being is no doubt important, what about our financial health? Below are a few New Year’s resolutions that, simple and obvious as they seem, can truly help improve your finances in 2011.