Saving

Early Retirement

Strategies for Achieving Early Retirement in Canada

Financial freedom and the ability to call it quits at your job while young may seem unachievable for many Canadians today. But with a committed effort and the right financial strategy, even the unachievable can be doable in these challenging times. ‘How to retire early in Canada’ is one question burning on the lips of …

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Make a Financial Plan

How to Build a Solid Financial Plan to Achieve Your Goals

Human wants are insatiable, and our means to reach them are limited. However, with proper planning and financial management, we can achieve the majority of our goals. Everyone seeks to be financially independent and build significant wealth. And as an Army General draws up tactics to win a war, creating a financial plan can be …

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Reasons Your Hydro Bill is So High

Understanding Your Hydro Bill: Factors that Affect Your Energy Consumption

You get your hydro bill and are baffled at the amount you are charged. Your hydro bill is much higher than you expected! It is a common but unnerving experience for all Canadian residents. You might even think you were saving energy, but here are some common culprits that explain your steep monthly hydro bill. …

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RSP in Canada

RSPs Made Easy: How They Work and Why You Need Them

People often mistake a Registered Retirement Saving Plan (RRSP) for Retirement Saving Plan (RSP). Although they are both aimed towards retirement, they’re different. While a Retirement Savings Plan (RSP) refers to several retirement accounts, a Registered Retirement Saving Plan (RRSP) relates precisely to one account type. One of the most significant tax advantages of an …

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Canadian Savings Habits: How Much Do People Really Save on Average?

Many Canadians use the average savings in Canada as a yardstick to determine how much they should have saved at their age. While this might be the right step toward financial accountability, it’s not the best way to approach savings. Before the pandemic, Canadians saved just 2-3% of their income, that’s way below the recommended …

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