The high costs of owning a home in Canada are no secret. Interest rates hit a 20-year high in 2024, leaving first-time homebuyers in a tricky position. Fortunately, the Canadian government has introduced tax-advantaged plans called first home savings accounts (FHSAs) to make saving for a home easier, even in the face of changing housing […]
A first home savings account (FHSA) is a registered plan that can help Canadians save for their first home, tax-free. First-time buyers can make tax-deductible contributions to the account up to the annual limit, with a lifetime cap of $40,000. Funds grow in the account tax-free, and withdrawals for a home purchase are also tax-free. […]
At some point in everyone’s life, an emergency will crop up that requires immediate financial attention. This might be a car repair that needs to be taken care of right away, an unexpected trip to the hospital, or any other type of unforeseen expense. When this happens, it’s important to have a Plan B – […]
Receiving a critical illness diagnosis can be a shock. Your life may dramatically change with just a few words. Your care team creates a treatment plan to resolve the condition, if possible, but that doesn’t eliminate the stress and worry. Fortunately, following some coping strategies can help you process the news and life changes more easily. […]
Physicians train for years to treat patients, yet they’ll need to be self-educated when it comes to managing their finances. Luckily, there are financial tools, from loans to software, that can help support a modern physician. Here are five tools for physicians to explore whether they remain practitioners or make the leap to business owners. […]
Daycare makes it possible for busy parents across DMV to balance work and other responsibilities with the reassurance that their kids are cared for in a safe, supportive environment. But the benefits of quality daycare don’t end when you pick your child up at the end of the day. Daycare can also set your kid […]
Your business’s financial future starts with its credit score. A strong business credit score can unlock opportunities like securing loans, hiring more employees, or financing essential equipment your business needs to reach a new level. Regularly checking your business credit report helps you avoid potential issues, build trust with lenders, and strengthen your company’s financial […]
Whether you want to build your emergency fund, buy a home, send your kids to college, take a once-in-a-lifetime vacation, retire comfortably, or establish financial security, a tax-free savings account (TFSA) can help you reach your savings goals. A TFSA is a Canadian government-registered savings plan that allows you to save a certain amount each […]
Building a solid financial future can set people up for success later in life, no matter what their goals may be, from home ownership to paying for college and exploring different types of investments. Here are some important things to think about when planning for financial success now and in the future. Budgeting and Saving […]
A Registered Retirement Savings Plan (RRSP) can be a powerful financial tool for building retirement savings and enjoying tax benefits along the way. An RRSP can contain a variety of investments, allowing your money to grow tax-free until you’re ready to withdraw it. Read on to learn how an RRSP can lay the groundwork for […]
