Experts say Canadians have little to fear as our Big Six banks are stable, profitable and highly regulated with large reserves. Smaller institutions are more vulnerable, but if one were to collapse, the fallout would be minimal.

Our cognitive biases can get in the way of saving for the future. Here’s how to recognize and overcome them.

Once the worst of the pandemic passed, some of us turned from being savers to spenders — setting ourselves up for potential disaster.

Apart from borrowers desperate for payment certainty, locking in your mortgage no longer has a favourable risk/reward.

Nerves are fine, but falling apart… not so much.

Take any projection of how the year will unfold with a degree of skepticism. No one really knows.
Here are three possible scenarios we could see over the next 10 months.

Side hustles are an excellent way to make money but are you ready to report your income?

The Supreme Court said in 1977 that having a car was a “virtual necessity” for anyone living in America. And by 1997, 43% of the country’s 16-year-olds had driving licences. But in 2020, the most recent year for which figures are available, the number had fallen to just 25%. Nor is it just teenagers. One in five Americans aged between 20 and 24 does not have a licence, up from just one in 12 in 1983.

The Canadian economy may be on track for a recession this year, but it won’t feel as severe as other downturns the country has experienced over the past few decades, according to Bank of Canada Governor Tiff Macklem.

When it comes to RRSPs, bad planning is not likely to get you arrested, but could affect your lifestyle later. Consider these ideas to improve the outlook for your RRSP savings.