Articles

There is new evidence that the old adage of “money can’t buy you happiness” is incorrect. Research suggests you do not have to have significant excess funds, nor do you have to spend that much in order to feel happier. The key is what you spend your money on. The journal Proceedings of the National … Research suggests buying time may make you happier

Recently CIBC commissioned a poll of Canadians to learn more about how families gift money. It is important to understand that there are no taxes on financial gifts to adult children in Canada, no matter the amount given. The poll showed 76 per cent of parents would be happy to give money if it would … Parents give adult children $24k average to move out

Canadians are living longer. This could have implications on how individuals manage their finances. The 2016 census data from statistics Canada was released in May, 2017. For the first time in the survey’s history, seniors outnumber children. Seniors, aged 65 and over, account for 16.9 per cent of Canada’s population, just slightly larger than the … Canada’s greying population gives rise to financial challenges

Recently the Bank of Montreal published a report titled Generation Why! concerning the financial and nonfinancial issues faced by Millennials — the demographic currently in their 20s and 30s, formerly known as “Generation Y”. This age group arrived in their adult years as our country became more comfortable with debt, particularly because of the recent … Millennials’ financial priorities

It is official. The most anticipated increase in interest rates has finally occurred. Last week for the first time in seven years the Bank of Canada increased its overnight interest rate from half of one per cent to three quarters of one per cent. This is significant to all of us because interest rates rise … It’s official… Bank of Canada has finally boosted interest rates

There was a time when Sears Canada was on top of the world. Sears was an iconic brand. Times have changed. The retail landscape in Canada has become more competitive with other strong retailers and the evolution of online shopping. Sears Canada of today says it is unable to pay its bills and filed for … Sears Canada’s financial woes – it can happen to anyone