by Ingrid Clayton | Feb 14, 2021 | Financial Literacy
What does it mean to Refinance a Mortgage? Refinancing a mortgage is when you renegotiate your current mortgage loan agreement — usually to access the equity in your home — to replace it with a new loan agreement. When people pay down the principal on...
by Ingrid Clayton | Feb 7, 2021 | Financial Education
What is the Old Age Security (OAS) Pension? The OAS pension is a monthly taxable income that you may receive from the government if you’re 65 and older. In most cases, you do not have to apply to get this benefit because Service Canada will be able to automatically...
by Ingrid Clayton | Jan 31, 2021 | Financial Literacy
What is an RRSP and a TFSA? A Registered Retirement Savings Plan (RRSP) is a savings plan where people save money for their retirement. The contributions made to an RRSP account reduces your income by that amount because the funds in an RRSP are tax-deferred. The...
by Ingrid Clayton | Jan 24, 2021 | Financial Education
Who Is Giving You Financial Planning Advice? Handling finances can be difficult for many people because financial planning is not taught in school, and it is rarely taught in the home. While some people may be very savvy at plotting out their financial course, not...
by Ingrid Clayton | Jan 17, 2021 | Financial Education
What is a debt consolidation loan? Put simply, a debt consolidation loan is one big loan that a finance company will lend you to pay off all your individual debts. The word consolidation is used because your debts that are with multiple lending institutions, or on...
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