Company-Paid Life Insurance, or DIY - What's the Difference?
This week’s news is more of the same around Bank of Canada interest rates.
The governor was in New Brunswick this past Wednesday told an audience that a sluggish economy, set to continue well into 2024, was likely to exert further downward pressure on inflation in the coming months.
Bottom line, he believes that we’re at the end of the rate hikes. This news isn’t much surprise though, since so much of the news is focused on how quickly rates will come back down.
We should expect things to move slowly over the next couple of years. Too fast, and we’ll ignite the housing market all over again.
If you are tired of hearing about Bank of Canada rate news, here are a couple other helpful articles below.
Check out our latest article:
Do you wonder why paying for private coverage makes sense when you have group coverage through work?
Check out our latest video:
Have you considered life insurance but aren't getting clear information about the different options?
Additional articles:
Managing Finances for Couples
Why Use A Mortgage Broker Instead of a Bank?
When Should You Start Investing?
Important Upcoming Dates
Registered Education Savings Plan (RESP) and Canada Education Savings Grant (CESG):
RESP deadline for 2023: December 31, 2023
CESG available until the end of the calendar year the beneficiary turns 17
Contributing to RESP is designed to help Canadians save for post-secondary education. By contributing to an RESP, you are building a fund that can be used to cover educational expenses such as tuition, books, and living costs.
First Home Savings Account (FHSA):
Annual contribution period: January 1 to December 31
Contributions must be made before December 31 to be deducted from 2023 taxable income
If you want the tax credit for this year, which can help you grow your down payment savings, you should contribute before the end of the year.
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