Writer and editor specializing in personal finance, investing, credit cards, insurance, real estate, smart home technology and home renovations.
Best Canadian Will Kits and Why Make an Online Will?
In Canada, you’re not legally required to prepare a will, but it’s a good idea to have one regardless of your health, marital status, age, or assets.
If you die without a will, the provincial or territorial government decides what happens to your assets and dependents, and their choice may not reflect your wishes. With such risks, it’s rather surprising that over half of Canadians don’t have a will. Many Canadians put off this chore – even though it could have potentially disastrous consequen...
Why aren’t savings interest rates increasing with borrowing rates?
The higher interest rates on borrowing products are thanks to the Bank of Canada (BoC)’s recent rate-hiking campaign. In an effort to curb inflation, which soared to 8.10% last year, the BoC has raised interest rates eight times in the last year — from 0.25% in January 2022 to 4.5% in January 2023. As a result, consumers are seeing higher interest rates on things like variable-rate mortgages, personal and auto loans, and home equity lines of credit.
While most types of credit products have be...
APOLLO Insurance Review
APOLLO Insurance is hoping to change the way Canadians buy insurance. Instead of shopping at a broker who only works business hours and may take days to find you a policy, APOLLO Insurance aims to cut that process down to just minutes. We reviewed APOLLO Insurance to see if this new Canadian company is worth a shot when you’re shopping around for different types of insurance. Keep reading to find out what we thought about it.
8 Life insurance riders you might consider adding
Life insurance plans are rarely one-size-fits-all. Typically, you’ll have the core of your plan’s coverage, and then, depending on your unique situation, you can add on extra benefits.
These add-ons are called riders, and they can provide additional protection beyond the payout at the time of your death. These riders aren’t free. They’ll add to the cost of your overall plan, but the additional cost is usually low relative to the cost of your policy.
There are eight common life insurance rider...
Life Insurance Trusts - What You Need to Know
If you’re a Canadian and people depend on your income to survive, then a life insurance policy will provide them with protection in the event of your death.
A simple term life insurance policy can be a straightforward way to provide your loved ones with a lump sum of cash (also called a death benefit) they can use to cover the cost of living and other more significant expenses.
But if you want to control how and when your life insurance proceeds are used, you’ll need to employ another tool. Y...
What is Travel Insurance and How Does It Work?
Vacations are an essential part of mental health, but they take a lot of work to organize. You need to get time off work, figure out where you are going, make a daily itinerary, make reservations, and the necessary arrangements to ...
The Ultimate Insurance Guide for Old Homes
So you’ve put an offer on an old home, and the sellers accepted – congratulations! Buying an old house is a unique and gratifying experience, and the next several months will be filled with a flurry of activity as you finalize your home purchase. One thing that might not be on your mind is home insurance.
Now is the time to start considering it, especially if you have an older home, which might be a little quirkier to insure than a newer home.
What Is Home Insurance, and Why Do You Need It?
S...
The Most Affordable Places to Live in British Columbia
British Columbia, on the fertile and rugged west coast of Canada, is famous for its majestic mountains, foggy forests, and staggering beauty. Unfortunately, it’s also known for being expensive. By the end of 2022, the average house price in BC was $95,000 higher than the next most expensive province, Ontario. This difference is understandable, given BC’s role as Canada’s western tech, commercial, and shipping hub. What these numbers don’t show is that the economic centres like Vancouver, Kelo...
What to Expect When Moving to Alberta from Toronto or Vancouver
Canadians are migrating. Where once they moved steadily from smaller towns to large urban centres like Toronto or Vancouver, now the trend has reversed. For the first time, Canadians are moving to smaller cities and towns in the highest numbers seen since 2001.
While this is true on a provincial level, Canada-wide, people are also moving from some of the densest places, like Ontario and British Columbia, to other provinces, namely Alberta. In the last quarter of 2021, Alberta led the country ...
Can’t Pay Your Mortgage Anymore? Here Are Your Options
Things happen, and sometimes even our best-laid plans go sideways. Canadians have faced this hard fact recently as they come to grips with rising interest rates. Mortgage rates in Canada have been on the rise, and with them, mortgage payments. As of December, some Canadians are paying up to $1,400 more monthly for their mortgage.
This jump happened because the Bank of Canada (BOC) started raising interest rates to combat inflation, and the impact spread to mortgage rates. Canadians with varia...
What Is the Barbell Strategy? Definition, Examples, Pros & Cons
Following the “barbell strategy” sounds like something you do to train for a weightlifting competition. But it has nothing to do with lifting heavy objects. Rather, it describes a technique that involves investing in risky and safe investments or short-and long-term...
5 Best Solar Energy Stocks To Power Your Portfolio
Energy production has always been an important political issue, which won't change as our energy sources slowly shift from fossil fuels to renewables. Unfortunately, though very promising, renewables as an industry aren't mature. It can be challenging to determine which companies ...
Embedded Lending: The Risks and Rewards of Paying by Installment
Lending as a practice has been around for thousands of years. The first instance of lending was recorded in ancient Mesopotamia, and debt has played an essential role in the lives of individuals ever since. Today, people borrow money for the same reasons they did thousands of year...
6 Best Space Stocks to Take Your Portfolio to the Outer Limits
Space is the next frontier — and it’s no longer the sole domain of nations and government-sponsored space programs. The last few years have seen an unprecedented number of private companies take to the skies, from notable blast-offs like SpaceX’s first privately funded rocket to r...
Demystifying Ethical Investing (ESG vs. SRI vs. Impact Investing)
Most investment vehicles and strategies have one goal: maximize profitability. They don't worry about whether or not the companies are doing good, benefit the environment, or are healthy for the globe.
But while investing in a company that does “good” isn't crucial for everyone, m...