Did you know…… you can make income tax payments in installments!? If you owe taxes to the government, the Canada Revenue Agency (CRA) will work with you to make a payment plan that works for you. Because of the financial hardships people are dealing with because of COVID-19, the CRA
Our Financial Literacy Program relaunched in June 2020 and this week marked the 250th person accessing the program. 62% of those who accessed the program completed a budget with our Financial Literacy Program Coordinator. A budget is an important tool for understanding your current financial situation and making a plan
During the lockdown, we are spending more time together than if the kids were at school throughout the week. Children are sponges and are learning from watching us. One of the things we are teaching them, purposely or accidentally, is our own beliefs about finances and our personal habits with
Are you feeling like debt is weighing you down? Unable to pay the debts you owe? Struggling and not sure where to turn? The latest MNP Consumer Debt Index found that as much as 53% of Canadians were $200 or less away from not being able to pay their monthly
What is a nest egg you ask? A nest egg is a sum of money that has been saved for a specific purpose. This savings is generally designated for longer-term goals. This is a good time to think about your goals and what it will take to reach them. Before
What is life insurance? Why would I want to buy life insurance? What are some of the “insurance words” that I need to know to have a conversation? How much insurance should I have? How much is it going to cost me? What isn’t covered? All of these are important
According to the Insurance Board of Canada, about 50% of renters in Canada do not have insurance. There is a variety of reasons why and this post is intended to correct some common myths and misconceptions and to provide some resources so you can make an informed decision. Before starting,
What are the 10 most important terms to understand about insurance.(Part 1 of 4). Many people have insurance policies and many people who should have them don’t. Some people have too much coverage and some have the wrong coverage. Many people don’t understand the “language” of insurance companies and that
Have you heard about the Guaranteed Income Supplement (GIS)? The GIS is a federal monthly payment which is based on income and is available to low-income Old Age Security pensioners. It is not taxable. You may qualify if… You are a senior 65 years or older. You receive the Old
How do the COVID-19 benefits impact your income tax return? If you received the Canada Emergency Response Benefit (CERB), Canada Emergency Student Benefit (CESB), Canada Recovery Benefit (CRB), Canada Recovery Sickness Benefit (CRSB), or Canada Recovery Caregiving Benefit (CRCB) payments, these are considered taxable income, and you will have to
