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Mandatory Types of Insurance Coverages Minimum Requirement Description Third-Party Liability Coverage $200,000 Pays for damages to the other party when you cause the accident. Accident Benefits $65,000 Covers the healthcare and recovery expenses of you and your passengers. Uninsured Automobile Coverage $200,000 Protects if you are involved in an auto accident with an uninsured driver. […]

You can switch your car insurance at any time in Ontario. However, there are better times to change your insurance. This is because many companies charge fees for policyholders who switch mid-term. In addition, not every insurance policy is created equal. Many Canadians focus on reducing their monthly payment at the expense of coverage limits, […]

To invest in the stock market on your own, it’s essential to choose the right online broker. Luckily, there’s no lack of options! Here’s a guided tour of a first-in-class online broker, Scotia iTrade, for those who are ready to ignore a slightly higher price list. The Scotia iTrade online brokerage platform is obviously taking […]

When you retire, you need to withdraw money from the retirement savings in your registered retirement savings plan (RRSP). This is where the registered retirement income fund (RRIF) comes in. You can convert your registered retirement savings plan (RRSP) plan to a registered retirement income fund and receive periodic income from the fund. Your deposits […]

While in line to use the automated teller machine, I overheard two people discussing their most recent investments on the Canadian stock markets. “I don’t need to keep my brokerage account with XYZ bank. I’ll be transferring my assets to Qtrade,” concluded one of them. Why Qtrade? Here’s a look at an industry leader. Qtrade […]

No one is immune to the possibility of a bank or credit union failure, no matter how unlikely it may seem. That’s where Canada Deposit Insurance Corporation (CDIC) comes in because the risk of a bank run is low but never zero. Force majeure or not, the CDIC protects your money by providing deposit insurance […]

Anyone who follows finance, and even those who don’t, have probably heard about the March 2023 Silicon Valley Bank (SVB) bank run. The failure of SVB marks the largest U.S. bank failure since 2008. The alarming news has left many of us wondering if our own banking institutions are at risk of a Canadian bank […]

One of the quickest ways to pick up a new skill is by watching and learning from successful people. Doing this allows you to learn from their mistakes and also hear tips that you wouldn’t otherwise have known. All of this can help reduce your own learning curve. Luckily, personal finance, money management, and stock […]

Sponsored by BMO Global Asset Management Is investing during a recession a terrible idea? If this crappy economy scares the hell out of you, you’re not alone. Crashing stocks, the cost of living, and job insecurity are making us all feel financially skittish. What if the market keeps crashing? What if I lose my job? […]

In Collaboration with CoinSmart From overnight millionaires to shocking market meltdowns, the crypto space offers something for everyone. The critics have plenty to scoff at while the evangelists hold on for dear life. Is the crypto market a bottomless money-pit, or a bull in bear’s clothing? Believe it or not, we’ve seen this movie before. […]

Do you have a brick-and-mortar location such as a retail business or restaurant? Do you run a personal service business such as a hair salon, a plumber, or a dog walker? Then Yelp is for you! In the rest of this piece, you’ll learn how to create a Yelp account for your business and how […]

Save money when you shop for the holidays. Easier said than done, right? Thanks to inflation, this season is poised to be the priciest yet. But it doesn’t have to be. With a little preparation and ingenuity, you can gamify any holiday gift list. From promo codes to cash back apps, we’ll help you save […]