The Canada Recovery Benefit (CRB) will expire on October 23rd and will be replaced by a new targeted benefit known as the Canada Worker Lockdown Benefit that will run until May 7, 2022 (retroactive to October 24, 2021).The “Lockdown Benefit” will be for those whose work is directly impacted by
For many people, their mental health can be deeply impacted by financial concerns. A recent article by the Financial Post explores the connection of mental health challenges to income, housing and employment insecurity which for many has been made worse by the effects of the pandemic. A survey by Credit
This is an important piece of information that many people don’t know. When you sign up for a bank account, in the contract it will outline that banks have the “right to offset”. This means that if you have both a bank account (ie. Chequing or savings) and a debt
There are new pandemic-related changes coming to the Employment Insurance system that took effect Sunday, September 26. This is a list of a few changes. To see all criteria, visit Service Canada at https://www.canada.ca/en/services/benefits/ei.html. Eligibility In the last year, EI applicants received a one-time top-up of hours to help them qualify.
Where did you learn about money and finances? We learn about money and how to use it from our earliest age. There are messages about money all around us. From watching those closest to us and how they use money to commercials that are streamed into our minds through tv,
If you are a student going to post-secondary, Congratulations! This is such an exciting time for you. It is a time to grow and learn and explore… not just in the classroom. You can also take this opportunity to learn about and practice managing money. You can treat learning about
If you’re 60 years or older and you’re living on a fixed income, this video provides valuable information on Federal financial support through the Guaranteed Income Supplement (GIS). Please note that the eligibility criteria for the 2020 tax year has changed since the preparation of this video. Please see cut-off
For those seniors that received the CERB and the Canada Recovery Benefit, many now will not qualify for the Guaranteed Income Supplement (GIS) or may face drastic reductions to their payments. Like employment insurance, the guaranteed income supplement (GIS) is income-tested. That means the previous year’s taxable earnings – including
“Pay yourself first.” This is a mantra that is used to help personal finances.What does it mean? This means putting money away for emergencies. Pick an amount – any amount – and put it in a separate account every month. Make this non-negotiable. You can put it in a regular
Parents and guardians receiving the Canada Child Benefit for children under 6 years old will receive an extra payment on July 30th, 2021. Those with a family net income of $120,000/year or less will receive this supplement. Another payment will occur October 29th, 2021. To find out more about the
