Why NOT to Get Mortgage Insurance

Why you should turn down bank offered mortgage insurance.

If you have (or have ever had) a mortgage, you’ll know that the bank will often push mortgage insurance on you when you’re signing on the dotted line. Now to be clear, this is the additional insurance your bank will offer you when you get a mortgage and not the CMHC insurance that is required when your down payment is less than 20%. Sometimes the bank will even go so far as to assume you’ll get the coverage and you’ll actually have to opt-out. They’ll throw out some small premium amount that will just get tacked into your mortgage payment, […]

Continue Reading

Credit Cards: Best Bang for Your Buck

Which credit card is the best for you?

A couple of weeks ago I talked about whether or not using cash or credit cards was a better option. As you know from that post, I’m not against using credit, as long as you pay off your balances in full each month. A big perk of plastic is that many cards have added features that get you cash back or travel rewards to save you money. Today we’re going to look at a few of the available credit cards that have some of the best bonuses. You’ll first want to decide which category will work best for you. If […]

Continue Reading

Your Investment Options

What investments options are out there? And which is right for you?

Investing can be overwhelming for beginners, especially when it comes to deciding what type of investments will work best for you. You’ve likely heard terms like mutual funds, stocks, bonds, and maybe even ETF’s, but do you know what each one is and the differences between them? Before buying anything with your hard earned dollars, you need to understand it and how it can benefit you.  If you are just starting to save money the first thing you want to do is save up an emergency fund. That will cover you if any unexpected expenses come up and will prevent […]

Continue Reading