Old Age Security payments will increase in July 2026 as the federal government adjusts benefits to reflect changes in the cost of living. OAS benefits will rise by 1.2% for the July-to-September quarter. This brings the total increase between July 2025 and July 2026 to 2.3%. Eligible Canadians will receive the higher amounts with their … Read more
The Canada Revenue Agency has released updated payroll deduction formulas that employers must begin using with their first payroll in July 2026. The 123rd edition of the T4127 Payroll Deductions Formulas includes mid-year provincial tax changes affecting how much income tax is withheld from some employees. Not every Canadian worker will see a difference. The … Read more
Canada Pension Plan and Old Age Security payments for June 2026 were issued on Friday, June 26. Canadians receiving payments through direct deposit should see the money deposited automatically. Payments sent by mailed cheque may take additional time to arrive. The next CPP and OAS payment date is Wednesday, July 29, when eligible OAS recipients … Read more
A home equity line of credit allows homeowners to borrow repeatedly against the equity in their property during a specified draw period. Most HELOCs begin with a variable interest rate, meaning borrowing costs and monthly payments can change over time. Some lenders also offer a fixed-rate option that allows homeowners to lock the rate on … Read more
An Individual Retirement Account can help workers build savings beyond an employer-sponsored retirement plan. The best IRA account depends on whether someone wants tax deductions today, tax-free qualified withdrawals later, professional management or complete control over investments. Retirement savers should compare account fees, investment choices, minimum deposits, automatic contribution tools and customer support before selecting … Read more
Homeowners who need to borrow money often consider two popular options: a HELOC and a home equity loan. Both allow you to borrow against the equity in your home, but they work in very different ways. A home equity loan gives you one lump sum of money with a fixed repayment schedule. A HELOC, or home equity line … Read more
Mortgage refinancing can be a smart financial move, but it is not always the right choice. Refinancing means replacing your current home loan with a new mortgage, usually with a different interest rate, loan term or monthly payment. Homeowners often refinance to lower their monthly payments, reduce total interest, switch loan types or access home … Read more
Choosing the best brokerage account as a beginner can feel confusing, especially with so many apps, platforms and investment options available in 2026. The right account should make investing simple, affordable and easy to understand. For new investors, the best brokerage account is not always the flashiest platform. It is usually the one with low … Read more
High-yield savings accounts remain one of the simplest ways to make your cash work harder in 2026. While traditional savings accounts often pay very low interest, many online banks and fintech-linked banking platforms offer much higher annual percentage yields. These accounts are useful for emergency funds, short-term goals, travel savings, home deposits, tax money, or … Read more
Credit cards often come with some of the highest interest rates among common borrowing products. According to the Federal Reserve, the average credit card interest rate is around 21%, which means carrying a balance from one month to the next can quickly become expensive. For people stuck in a credit card debt cycle, opening a new … Read more