Most simply put, compound interest is interest earned on interest earned previously. If you had to stop and think about what that means, this blog is for you! Here you will learn what compound interest is, the difference between compound and simple interest, and how to use compound interest to maximize your financial gains.
Have you ever looked at your credit score and wondered where that number came from? There are many pieces surrounding your financial history that financial institutions use to determine your credit score. If you know what these financial institutions are looking for and how they weigh each aspect, you can make sure to focus on what is most important to keep that credit score sky high!
If you’re looking for a place to rent for the first time, it’s likely it will be your first time living on your own after leaving your parents’ house or your college dorm. There may be excitement and anxiety surrounding it! Although the process will come with a range of emotions, it’s best not to make an emotional decision that you’ll regret down the road. This guide will help you know what to prioritize and keep in mind when heading into your first property rental.
An RRSP is a Registered Retirement Savings Plan, so you guessed it, you contribute money to it to save for your retirement. Like a TFSA, you should use it for investing, not saving. You can invest in stocks, bonds, ETFs, GICs, and mutual funds and save thousands of dollars on taxes. However, there are many differences between the two types of accounts. Read this blog and/or go to the Investing 101 course to learn more about each!
A TFSA is a Tax-Free Savings Account, and it allows you to grow your money tax-free! However, the name is slightly misleading because the TFSA is more than just a savings account. You can invest in stocks, ETFs, bonds, GICs, and mutual funds. Taking advantage of this relatively new investment program can help save Canadian investors thousands of dollars in taxes, so what are you waiting for? Start saving!
As we all know, taxes can be crying-on-the-floor-overwhelming. Even though we do them every year, most of us still seem to not feel very confident or knowledgeable about them. SO, let’s go over some of the most important terms to understand to help you feel more empowered and confident this tax season.
As an undeniable step in the traditional adulting dream, purchasing a home is something many hard-working professionals look forward to. While having your own place is a huge milestone, it is a process that few people understand until they have done it. Read this to help you confidently navigate the home-buying process the first time!