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Variable vs Fixed Mortgage Rates in Canada: Here’s How to Decide in 2024

Variable vs Fixed Mortgage Rates in Canada: Here’s How to Decide in 2024

The main difference between a fixed rate and variable rate mortgage is that the interest rate you pay on a variable rate mortgage fluctuates based on the prime rate. Fixed Rate Variable Rate Interest ...

Jul 15, 2024 By Mark Gregorski
30 Year Mortgages and Expanded Home Buyer’s Plan Make Purchasing a Home Easier in 2024 – For Some

30 Year Mortgages and Expanded Home Buyer’s Plan Make Purchasing a Home Easier in 2024 – For Some

The average age of first-time homebuyers in Canada is thirty-six according to Remax; if on first glance you find this surprising, consider that to meet the minimum deposit requirements on the average ...

Jul 15, 2024 By Amy Orr
Interest Rate Shock: What To Expect If Your Fixed Rate Mortgage Deal Expires

Interest Rate Shock: What To Expect If Your Fixed Rate Mortgage Deal Expires

Interest rates have seen significant volatility in recent years, spurred by both the global pandemic and Canadian economic factors. And when you combine this with Canada’s booming housing market, it’s...

Jul 15, 2024 By Amy Orr
Food Bank Usage Continues to Rise at an Alarming Rate in Ontario Cities

Food Bank Usage Continues to Rise at an Alarming Rate in Ontario Cities

Up to 2021, Stephanie S. was living what many consider a stereotypical working-class lifestyle. She was able to make mortgage payments on time, cover necessary expenditures, and have some money left o...

Jul 15, 2024 By Harshil Dhanky

Planning Ahead

Secure your Financial Future

Tax Free Savings Account (TFSA) Guide for Canadians
Tax Free Savings Account (TFSA) Guide for Canadians
By: Harshil Dhanky Jul 17, 2024
TFSA 8 min

Tax Free Savings Account (TFSA) Guide for Canadians

In the world of Canadian personal finance, the Tax-Free Savings Account (TFSA) is one of...

TFSA Contribution Limit for 2024
TFSA Contribution Limit for 2024
By: Amy Orr Jul 17, 2024
TFSA 4 min

TFSA Contribution Limit for 2024

The 2024 TFSA contribution limit is $7,000. This is again slightly higher than previous years....

TFSA Withdrawal Rules Explained
TFSA Withdrawal Rules Explained
By: Adeola Ojierenem Jul 17, 2024
TFSA 5 min

TFSA Withdrawal Rules Explained

The tax-free savings account, also known as the TFSA, is a great initiative that the...

Self Directed TFSA: What is it & How It Works
Self Directed TFSA: What is it & How It Works
By: Sid Mohapatra Jul 17, 2024
TFSA 5 min

Self Directed TFSA: What is it & How It Works

A self-directed TFSA (Tax-Free Savings Account) is a type of TFSA that allows account holders...

TFSA vs RRSP: How to Choose Between the Two
TFSA vs RRSP: How to Choose Between the Two
By: Amy Orr Jul 17, 2024
Accounts 6 min

TFSA vs RRSP: How to Choose Between the Two

The main difference between TFSAs and RRSPs is when you pay the tax: now, or...

What is an RRSP? Registered Retirement Savings Plan
What is an RRSP? Registered Retirement Savings Plan
By: Mark Gregorski Jul 17, 2024
RRSP 6 min

What is an RRSP? Registered Retirement Savings Plan

An RRSP is a government-registered savings account designed to help individuals save money for their...

What is the RRSP Contribution Limit in 2024?
What is the RRSP Contribution Limit in 2024?
By: Baggio Ma Jul 17, 2024
RRSP 4 min

What is the RRSP Contribution Limit in 2024?

The RRSP contribution limit for the 2024 taxation year is 18% of your pre-tax earnings...

RRSP Withdrawal Rules and Taxes Explained
RRSP Withdrawal Rules and Taxes Explained
By: Paul Woodland Jul 17, 2024
RRSP 5 min

RRSP Withdrawal Rules and Taxes Explained

While you can make withdrawals from your RRSP at any time, it’s important to understand...

What is a Spousal RRSP? Contributions and Withdrawal Rules Explained
What is a Spousal RRSP? Contributions and Withdrawal Rules Explained
By: Baggio Ma Jul 17, 2024
RRSP 5 min

What is a Spousal RRSP? Contributions and Withdrawal Rules Explained

A spousal RRSP is a popular type of registered savings account that can be used...

What is a Group RRSP or GRSP in Canada?
What is a Group RRSP or GRSP in Canada?
By: Adeola Ojierenem Jul 17, 2024
RRSP 4 min

What is a Group RRSP or GRSP in Canada?

A Group Registered Retirement Savings Plan (Group RRSP) is an employer-sponsored retirement savings plan registered...

PiggyBank is a comprehensive online platform dedicated to helping Canadians navigate their personal finances with confidence. We offer a wealth of resources, including in-depth guides, detailed comparisons of financial products, and the latest insights into money management.

PiggyBank covers a broad spectrum of financial topics such as banking, credit cards, investing, mortgages, loans, insurance, and taxes. Designed to provide practical advice and tools, PiggyBank shares insights from Canadian or Canada-based contributors who are actively using the Canadian financial system.

Whether you're looking to save money, invest wisely, or manage finances more effectively, PiggyBank empowers Canadians to make informed financial decisions.

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