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There are many online banks out there offering high-interest savings accounts (HISAs). The usual suspects, such as Tangerine Bank and Simplii Bank, have a lottery where some customers receive short-term promotional interest rates. I’ve been riding the 5+% interest rate lottery at Tangerine Bank for a while now. …
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As I mentioned in a previous post, I have been on the hunt for a new no foreign transaction fee card. I have a few annual expenses that are paid in USD and most credit cards charge an additional 2.5% foreign transaction fee. I have a Rogers Platinum Mastercard that charges a 2.5% fee but pays back 3% for an effective …
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If there’s one thing that I dislike, it’s fees. That will be the theme throughout this post. One of the most annoying fees is the foreign transaction fee. When you pay with your credit card in a foreign currency, your credit card will usually charge an additional 2.5% in foreign transaction fees. As …
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As I mentioned in a previous post, I started my financial journey using Quicken. I purchased TurboTax on Amazon to file my taxes that year and saw an offer for a discount on both. I jumped on the offer and used Quicken to create a budget, categorize, and track my spending. In 2007, Mint.com launched as a free financial …
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When I started working almost 2 decades ago, I used Quicken to create a budget, categorize, and track my spending. As my salary increased, I stopped tracking my spending. I’m naturally frugal and am conscious of my spending habits. Instead of tracking categories, I had an overall spending bucket that fluctuated …
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Disclaimer: This post contains affiliate links. We’re all familiar with the Big 5 Banks in Canada. They operate brick-and-mortar branches and offer a ton of benefits and services. You can interact with bank tellers, withdraw cash, take out a mortgage or loan, get a bank draft, get a safety deposit box, etc. For …
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In 2022, the Canadian government announced the creation of a new tax-free savings account to help potential home buyers save for their first home, called the First Home Savings Account, or the FHSA. When it was first announced, I wasn’t interested as I wasn’t eligible. But now that we’re in the first …
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Stock-lending has been a capability of brokerages for as long as I can remember. But recently I’ve seen popular brokerages offer retail investors the option to participate in stock lending, such as Interactive Brokers and Wealthsimple. The idea of stock lending is pretty simple: you lend out your shares to short …
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I was an Interactive Brokers client over a decade ago. I used it to create a separate trading account from my primary ThinkOrSwim (TOS) account before TD Ameritrade acquired TOS. As I mentioned in my previous post, I’ve been thinking about what to do with my TD Ameritrade account because TD Ameritrade was …
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One of the common questions I see from beginners on the Blossom App is what account to open and how their investment activities are taxed. In this post, I explain the different types of investment accounts available in Canada, the tax treatment of those accounts, and the different tax forms that you can expect to …
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