Starting a side-gig, freelance work, or small home-based business is a great way to supplement the income you make from your main employment. After I began providing part-time web design services, I became interested in how to ensure I could protect my net income, expense the appropriate costs, and minimize my taxes. According to Canada Revenue Agency, […]
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It’s mid-spring and with the weather warming up, the roads are becoming busier as activities ramp up and people engage in spring/summer trips and holidays. Gas prices are also trending up! 1. Carry out regular maintenance Keeping your engine regularly tuned will increase your fuel efficiency and lower your gas bill. Following your vehicle manufacturer’s recommended […]
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Want to access your credit score for free? There are now multiple ways to achieve that in Canada. While our neighbours down South have had access to free credit score for more than a decade, it was only recently that Canadians could boast of having the same resource available to them. Gone are the days when […]
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Mortgage life insurance is often sold by mortgage lenders (financial institutions) and offers to pay off your outstanding mortgage (up to a maximum amount) if you die or suffer ill health or injury that prevents you from being able to work and earn money. Mortgage life insurance is also referred to as Mortgage Protection Insurance […]
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The Canada Learning Bond (CLB) is free money provided by the government to lower-income families to assist them in saving for their kid’s future education after high school. It is associated with the Registered Education Savings Plan (RESP) and another well known government benefit – the Canada Education Savings Grant (CESG). The RESP is a government registered savings […]
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Ratehub.ca is a website that allows visitors to compare several financial products online including mortgage rates, credit cards, high interest savings accounts, insurance products, and so on. Significant savings can be found by using online comparison websites to narrow down your options when looking for competitive rates, and that without leaving your home. Websites offering similar […]
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Just as with buying a home, there are closing costs associated with selling a home. I have previously discussed the closing costs that first-time home buyers should prepare for here. Let’s talk about the costs associated with selling your house. 1. Realtor’s Commissions The seller is usually responsible for paying the commissions to realtor’s or […]
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The Old Age Security (OAS) pension is a taxable monthly payment from the Government of Canada to eligible seniors who are 65 years of age or older. Read more on eligibility requirements here. In addition to the OAS, low-income seniors may also be eligible for additional benefits including Guaranteed Income Supplement, Allowance and Allowance for […]
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