.The Canadian Saver

to financial stability and freedom.

your finances and how important it is to recognize the role your thoughts and beliefs play in shaping your financial reality. Today, let's dive deeper into actionable steps you can take to actively change your mindset about money and cultivate healthier financial habits.

Think of it as the lens through which we view money. Some see it as a source of stress and worry, while others view it as a tool for creating freedom and abundance.

All you need to know about critical illness insurance in Canada

For a lot of people, owning a home has been a lifelong dream. However this dream is becoming harder and harder to reach. Unless you have been living under a rock, you might have heard about the Canadian housing market and the fact that home prices are reaching higher and higher levels every day. When the pandemic hit, the prediction was that the economy would take a hit and home prices would drop. The predictions were right on one point, the economy did take a hit. However, the same can’t be said for home prices in Canada. After a drop in residential sales activity a few months into the pandemic, the Canadian real estate market has rebounded nicely. A little too nicely, actually.

Buying a home is the single biggest Investment most people will ever make in their life.  Buying your first home can be a very exciting project. As a first-time home buyer, you need to make sure you are getting all the information you need so you can avoid costly mistakes during the home-buying process. So here are 5 mistakes to avoid as a first time home buyer so you can have a smooth transition between renting and owning a home.

Inflation measures the overall impact of changes in price for different types of products and services. It allows for a simple value representation of the increase in the price of goods and services over a period of time. Simply put, inflation is the rate at which prices of our goods and services rise. This means that what you could buy with $100 before will need to be increased in order to buy the same products and services today.

A financially savvy person is someone who deals with spendings, credit and other money matters. Financially Savvy people know how to manage their finances in an orderly fashion. Essentially, the overall idea of being financially savvy means having a handle on your money and maintaining a healthy financial situation. In order to master being financially savvy, you need to be able to have a financial plan for the present and for the future. Are you financially savvy?

An RRSP loan is just as the name suggests. It's a loan you can contract for the purpose of investing in an RRSP. Essentially, an RRSP loan allows you to get a loan in order to save for retirement. But what would drive someone to get a loan in order to save for retirement? When does it really make financial sense to get a loan for the purpose of retirement saving?

A Registered Retirement Savings Plan (RRSP) is an investment account designed primarily for retirement saving. Either you or your spouse can contribute to an RRSP. This account is regulated by the Canadian government thus the word registered. Any interest or investment income that you earn in an RRSP is exempt from tax as long as the funds stay in the account.