The Average Toronto Credit Score Needs Some Polish
Posted on 22 March 2024Despite having one of the highest average credit scores for a major Canadian city, Toronto has room for improvement. The Big Smoke boasts an average score of 690, which falls within the lower range of “good†credit. Generally speaking, a score of 690 isn’t anything to scoff at; most lenders will view you as lower risk than someone with rock-bottom credit. However, it ...
First-Time Homebuyers Beware of Bidding Wars in Toronto
Posted on 19 October 2023In spite of Ontario’s cooling market and record-high mortgage rates, bidding wars are still a common practice in Toronto. Pockets of the city see properties sell over asking — from small apartments and semi-attached homes to luxury houses alike. Cailey Heaps of Heaps Estrin Real Estate team told the Financial Post that her realty group saw a resurgence of bidding wars since ...
Taking charge of your finances
Posted on 02 December 2021(NC) About half of Canadians experienced a financial impact due to COVID-19. And women were disproportionally affected by the pandemic. If keeping up with bills and financial obligations has become a challenge, you’re not alone. There are ways you can begin to take charge of your personal finances once again. Know your options If you're having trouble paying for ...
Instead of a universal basic income, governments should enrich existing social programs
Posted on 19 February 2021Amid the COVID-19 pandemic, the idea of a universal basic income (UBI) has been touted by those across the political spectrum as a prospective model of social security that would provide guaranteed cash to citizens. But while UBI is desirable in principle, it’s not a magic solution to the intricate and perennial problems of poverty and income inequality. Furthermore, its impl ...
4 reasons why COVID shouldn’t stop you from opening an RESP
Posted on 19 February 2021(NC) As parents worry about keeping themselves and their kids healthy this unique school year, post-secondary school plans may take a back seat. But that could be a major misstep. Here’s why you should put opening a registered education savings plan at the top of your to-do list, according to Ryan Weiss, vice-president, group customer product and experience, for Canada Life: ...
Demystifying your paycheque
Posted on 19 February 2021(NC) Whether you’re a barista in a café or working for a longstanding family business, there’s no day like payday. But with 24 per cent of employees stating that they would look for a new job after just one mistake on their paycheque, it’s important that your employer makes your pay stub accurate and easy t ...
Unauthorized credit or debit transactions can happen to anyone
Posted on 12 February 2021(NC) More of us are using our credit and debit cards to make purchases as a result of the COVID-19 pandemic. But with incidences of fraud increasing as well, it’s important that you understand your rights if someone uses your card without your permission. You also have certain responsibilities to make sure you are protected, including taking reasonable care to keep your acc ...
1 in 3 Canadians are targets of financial fraud during the pandemic
Posted on 12 February 2021(NC) As the COVID-19 pandemic continues, fraudsters are taking advantage of people by preying on fears and using misinformation. In fact, one in three Canadians indicated they have been targeted by attempts to obtain their financial information through phishing or hacking, according to data from the Financial Consumer Agency of Canada. Some common scams can include phone calls, em ...
3 things parents should teach their kids about money
Posted on 12 February 2021(NC) Parents have a key role to play in teaching their kids about money and helping them develop good money habits early. Knowledge, skills and confidence when managing money will help young people throughout their life and will contribute to stronger financial well-being as adults. When your kids reach their teen years, focusing on money matt ...
3 smart things to do with your tax refund
Posted on 12 February 2021(NC) Tax season is here, and many of us will be getting some money back. Perhaps one of the most important findings from new Financial Consumer Agency of Canada research is that by doing small things today, you can significantly improve your long-term financial situation, regardless of your income. Here are three small steps you can take with your refund in 2021. Pay off ...
