CRA Direct Deposit: Simplifying Your Tax Returns

April 10, 2017 Jelani Smith 0

Over the past few years, the Canadian Federal government have been encouraging taxpayers to receive government related payments through direct deposits. Government related payments includes tax refunds and GST/HST credits from the Canada Revenue Agency (CRA). Approximately 80% of government related payments are issued by direct deposits. If you haven’t opted to receive your government payments through direct deposit, I […]

15 Ways to Save for a House Downpayment

April 5, 2017 Jelani Smith 0

Heated real estate markets are showing no signs of cooling down – with growing demand, derived from strong job markets, immigration, all time low interest rates, and low supply. In some regions, such as Toronto and Vancouver, house prices have been facing double digit, year over year growth. Despite the circumstances, 82% of non-homeowner Canadian millennials have the intention of […]

The 5 Important RRSP Rules

January 1, 2017 Jelani Smith 0

  January to the end of February is known as the ‘RRSP’ season. There is always a huge rush to make RRSP (Registered Retirement Savings Plan) contributions, especially on the last day. In 2013 alone, Canadians contributed 37.4 billion to their RRSP, according to Statistics Canada (CBC). Regardless of what time of the year it is, you should always keep […]

4 Steps to Raising Money-Savvy Kids

November 14, 2016 Maricor Bunal 0

Do you have kids? How much do they know about basic financial education? Teaching your children about budgeting, saving and spending is actually one of the best things you can do for them. Guiding them through the ins and outs of a money-savvy lifestyle will set them up for future success. Fortunately, because children are naturally curious, teaching them the […]

5 Things About Personal Finance You Should Know

November 5, 2016 Jelani Smith 0

Personal Finance is a topic that every millennial should know. It’s more than just creating a budget – it has a huge influence on your lifestyle. Not knowing the basics can lead to undesirable consequences, such as accumulated debt at high interest rates, and low savings account balances. Below are the 5 important things about Personal Finance you should know. […]

7 Ways to Save Money on Clothes Shopping

September 5, 2016 Jelani Smith 0

Shopping for clothes is always fun – checking out new fashion trends, trying on clothes, and so on. Clothes shopping is one of the biggest weakest link for many millennials. It’s relatively easy to buy clothes on pulse, especially when there’s a sale. Millennials are more frequent shoppers. Around 58% of millennials love to shop, compared to 40% of adults […]

Use This Strategy to Save One Million Dollars in 20 Years

August 23, 2016 Jelani Smith 2

The millennial generation is going through a unique situation in terms of personal finances – all time low interest rates and rising student debt. In some cities, such as Toronto and Vancouver, Real Estate prices (renting and owning) are at all time highs.  Despite the personal finance obstacles for millennials, it’s still possible to save one million dollars in 20 […]

What is an ETF?

August 21, 2016 Jelani Smith 0

Exchange Traded Funds (ETFs)  are alternatives to Mutual Funds, where Management Expense Ratios (MERs) are usually a fraction of the price. MERs are the costs to keep the funds active. These costs include but are not limited to, operational costs, and trading costs. The MERs are typically passed on to the Mutual Fund/ETF holder. For example, a MER of 1% […]

Canada Child Benefit: What You Need to Know

July 20, 2016 Jelani Smith 0

Effective on July 2016, the Trudeau Government rolled out the new Canadian Child Benefit program (CCB). The main purpose of this is to strengthen the middle class, which was one of the focuses of the 2016 Federal Budget. This program is to replace the Universal Child Care Benefit (UCCB) and non-taxable Canada Child Tax Benefit, helping families with a net […]