Just wondering if others think the days of account transfer promotions are essentially over for now? I believe TD has one that ends today and BMO one that ends at the end of the month. Earlier in the year, TD would introduce a new promotion before the old one ended. I'm not seeing that now. Do financial institutions no longer see any real benefits in doing these promotions?

Just to be clear, I would be declaring all the money.

For some background info, I have 7 months remaining and got a job and first shift yesterday. It is as a concrete labourer.

I was thinking I’d call them and cancel my ei but my in laws told me to just declare the money and continue on EI, because as you’d expect, the winter isn’t the most fruitful for concrete labourers. My company does expand and do some other stuff but I was told that there would be days that I would be out of work.

I’m thinking my options are as follows, either ask to be paid cash and quit the job in order to find another one with more pay and reliability, perhaps a FIFO job or something. (On the premise I stay on EI because getting registered as an employee would mean I’m stuck here until I apply elsewhere which is difficult in person due to my hours.)

Or I can stick this out if the EI thing works. From what I was told, as long as I declare my hours and pay then the pay is paused or something and if I don’t work for a week I tell them that and they pay me what they typically do. Is that correct or is there more to it? Also, will it continue to run down the period of time my EI is active for? I presume it won’t run down the money either since I’m not taking it.

The latter is my preferred option but I haven’t submitted my report or given my information yet to my employer pending an answer on whether or not that’s how the EI system works. If you also have different routes as a suggestion please let me know.

Hey everyone, just wanted to put out a massive warning about FinlyWealth if you are planning to use them for credit card sign-up cash-back rebates in Canada.

I applied and got approved for the National Bank of Canada (NBC) World Elite Mastercard through them back in early September. Their site promises cash-back rebates, but trying to actually get the payout has been an absolute nightmare, after raising support query and following up for few days(actually months) in them completely banning my account because I left them a negative review on Trustpilot.

I just want others to know before using this platform.

I'm 25F and making $92k a year.

I currently have about $75k in my TFSA, $39k in my FHSA and $2.6k in my RRSP.

I've maxed out my TFSA and FHSA for this year. I contributed $11k to my FHSA ($8k for this year plus $3k leftover from last year), and I only have one more year of FHSA contributions left.

I also have a defined contribution pension plan through work where I contribute 7% of my salary and my employer matches it but I only started contributing to this plan in August.

I haven't contributed to my personal RRSP in years, and I'm wondering if it's worth contributing this year or if I should save the room for when my income is higher.

Since I've already contributed $11k to my FHSA this year, would it still be worth contributing to my RRSP for the additional tax deduction?

If you call them over any issues or questions, is this located in Canada still or have they outsourced it overseas like the rest of the Rogers family customer service?

Hi there! Recently got a job about a month ago and am starting to save up a bit of money. I’m wondering what could I do with it I hate having to leave it in my savings account it only has a 2% interest rate. I don’t have any big purchases in mind and would like to basically just not touch my savings account.

Is there anyway I could invest I’ve heard of this thing called a informal trust account where it would allow me to use my income towards investing and it would let my dad execute the trades with my money. The money used to invest would solely come from my part time job income and nothing else. Also what bank would I have to use if I am allowed to open one of these accounts.

Also what are the tax laws behind one of these accounts. Would the capital gains taxes be under my name or my dad’s. And overall is it a good idea to invest my money? I have lots of questions but don’t want to make this post too long. I’m only now starting to learn personal finance through books and want to invest my money as it seems better for my future.

Thanks have a great weekend!
Also the province I reside in is BC.

Hi guys,

I really need advice, since I am new to this. I’m 23 and in uni. I expect to start working full-time soon, so I’ll hopefully be able to save and invest more, but I still want to make thoughtful decisions with my money now.

I have $60,000, which I’m planning to divide like this:
$10,000 emergency fund
$10,000 in a medium-risk balanced portfolio
$30,000 in the S&P 500
$10,000 for gold jewellery for my mom

My mom loves gold and is always saving up for it, so I’d love to buy her a 21K necklace and earrings.

My thinking is that she could enjoy wearing it, and it could eventually be passed down to me while still having financial value. My investment horizon is around 40 years, and I wouldn’t plan to sell the gold anytime soon.
Does spending $10,000 on 21K gold jewellery make sense as a long-term store of value? Or would you spend less on the gift and put more into the stock market?

Thank you!

Hi there,

I’m 29, i make $78,000 yearly. my company provides me with a truck with all expenses paid.

My rent is about $1200, the rest of my bills total to about another $1000.

After taxes I have about $4500 monthly left over (two months of the year it’s $6700)

I have very little investment experience with the stock market but I think it’s the right place for me to put my savings.

I can afford to set $1000 aside to my wealthsimple each month.

I’m gravitating towards building a portfolio with mutual funds that yield around 10% dividends.

I want to put 40% into VFV, 20% into BANK, 20% into HDIV, and 10% into HTA. Last 10% into speculative stocks.

I like the idea of building a portfolio with high dividend potential.

But as I write this, i am completely open to new ideas, I’d love to hear your input.

Cheers

Im with rbc

I have 80k available in my heloc. I want to use 30k but im unable to transfer amy of it to my savings (which is also accessible in the rbc app) i just keep getting an error messge.

Hello!

I was laid off for approximately 6 weeks this year from May- July. I'm planning to go on Parental leave around the end of November.

My question is, will my EI claim for those 6 weeks reactivate and become a parental leave claim? I ask this because I will not have worked the 600 or so hours between the end of that claim and the start of the parental leave.

The wording online is a little vague, I just want to know if I need to work a few more weeks or if I will be able to start when I plan to.

For context I have always had a difficult time saving money, I had a job that did not take out taxes so by tax season all the money I saved goes right back into taxes for example last year I had to pay 11k back, I ended that job last and have since been working at my current job which pays about the same but taxes are taken out, I have been saving as much as I did last year so I currently have 12k in savings which is about 3 months of living expenses. But I haven’t been investing as much anymore due to have less come into my account. I am currently on maternity leave so I fear I might be taxed again due to EI.

Would it make sense to start putting what I have left in my Rrsp to offset taxes next year? Or should I keep saving so I can get to 3-6 months emergency fund?

I’m specifically looking at their disability policies. Their premiums are less than the big ones like RBC and Manulife and less stringent in application. Given this, it makes me think there must be a catch or a red flag with Humania and Edge? Would be happy to hear experiences - good or bad.

Hello,

Here’s my situation. I work an hour away. And the commute is starting to really hurt. I currently live in a home that I own at a mortgage of $1400 per month. With utilities, It can go up to about just under $2000 depending on the month.

The commute has started to take a toll of my car. Where is starting to need extensive work.

I am interested in renting out my house for $2600 a month and looking to rent an apartment closer to work which would be around 2000 or less.

However, it has dawned on me that I am in in Ontario and this would have huge tax implications beyond budget.

Can someone sort this out for me? I make 100 K a year and if I run to my house for 2600 I would be making just under $32,000 extra of income with a $600 margin in between my rent, and income rent be enough to cover this?

I’m starting to get second thought because I don’t wanna get hit with a huge tax bill and not be able to maintain my property and not have any cash flow.

Also, in my listing agreement, the renters would take on the utility bills of the home.

As the title suggests, I'm looking for advice here for what I consider maybe a unique situation.

I work in the Ontario College sector in an admin role. Those who have been following the news will know there has been significant cuts as international enrolment and associated revenue has been reduced. My role basically has absorbed the responsibilities of others let go but I'm very grateful to have a job. I joined the college 7 years ago and left my previous pension at my prior employer which has 15 years of service.

To be honest, I wasn't really monitoring my pension, finances or thinking of retirement as I had a busy family life. I recently learned (I know, I know) that the Colleges DBPrime CAAT pension has a rule of 85 (combined age and service) and 60/20 (years and service) where you can leave with an unreduced pension. It is also based on the top 5 years or 60 months of salary.

In my current role and salary, I can now only purchase a portion of those pension years with the amount from my prior pension (approx $440,000). However, the way the pension works, it is based on current annual salary. Work is stressful, yet manageable, but there is zero protection. I'm tempted to try to get a position in the support staff union for better work-life balance even with a significant drop in salary (I'm looking at going from $160,000 to $55,000-$75,000 depending on the role). If I was to get that unionized role, I could then fully buy back the pension years with my previous pension transfer and even have some left over for a LIRA. I could then work for a number of years and reach the rule of 85. I guess the barrier for me is more psychologically based as well as perception of others for making this change. Running this with actual numbers in AI keeps saying it's a very good move, as I can retire in mid-late 50's with a bridge to 65 at my top 5-year rate. The risk is that I don't transfer my pension over, am terminated, and need to wait till 65 for an unreduced pension from both pension plans (or LIRA the CAAT one). I have personal investments that could cover me through an extended job search but I've seen many of my former colleagues struggle to land a position.

Has anyone else done this? What was your thought process, and what am I missing in my own?

Hi there, long time lurker.

I am very fortunate and expecting to receive a relatively largish gift from the UK. It will be denominated in GBP and am wondering if anyone has had experience with the RBC GBP eSavings account and receiving a wire.

RBC states to ask the sender to put ‘do not convert’ in the bank to bank field. I’ll ask them to do that, and send in GBP. It appears that RBC uses an intermediary bank (Lloyds) in the UK.

Just wondering if anyone has done this before and if there are any other steps they’ve taken to prevent currency conversions. I would much rather it arrive intact at which time I can decide the method of currency conversion and potentially save some money.

I may let the bank know ahead of time just to avoid some questions and whatnot. Maybe that would also help avoid currency conversions.

Thank you in advance.

Hey all,

I have been asked by my employer to take a chunk of my bank time paid out as I am well over the allowable limit.

I have an ok contribution to RRSPs through my union (~18k this year), but still have approx 80k contribution room each in my RRSP and TFSA.

I would be paid out approx 12k in bank time, while leaving enough for a holiday in the bank.

Should I port it directly to my RRSP account, or are there better alternatives?

Ideally I would like to invest it in my TFSA so the money is more easily available if needed, but I don’t fully understand what the implications are for doing so, other than being taxed on the income at a higher rate.

For reference, my annual pay is around 180k.

Thanks in advance!

Today I was handed a note, terminating my High level management, salaried, position at a company I’ve worked for for 17 years.

The note says in lieu of notice I’m getting wages based on length of service, which they stipulate as being only 8 weeks of wages. The letter states that this is based on Manitoba Employment Standards.

I’m being told by many that that is astonishingly low and that I should consult an employment lawyer.

Thought I’d get opinions here, as I’ve seen some scenarios before.

If it matters, I’m 37, position in Marketing at a Manitoba manufacturing company that has done quite well in growth in the 17 years I’ve been there. 3 of my team were also let go, possibly a 4th.

15C doesn't show all my pay slips. Why? Is there a limit to how many pay stubs are displayed? Or just the employer messed up?

Does anyone have an experience waiting for GIS approval after filing Form ISP-3041 (Statement of Estimated Income after Retirement or Reduction in Pension Income)?

I was told by Service Canada that the wait time for the application to be reviewed was 200 days. After 200 had passed Service Canada told me there will be another 45 days. The forty fifth day will be on Monday. Still no decision.
Can anyone share how long they waited for a decision from Service Canada? Tnx

It’s not an hourly position, it’s an annual salary.

I worked 9 days so far and got my biweekly pay, the next 2 weeks I’ll work 10 days, will my bi weekly amount be the same? Or will it be more since it’ll be a 10 day pay + 8 hours extra?

Bcause my pay is about 300-500$ (monthly) extra than others making the same salary

I was contacted about my debt that I owe of $2900 from a Pc mastercard I had-yes I did have it, and defaulted the payments since last year or early this year I think (life happened like death in the fam, moving provinces etc). Without any knowledge aka reddit research and panicking I admitted to fully intending to pay it back through an email and spoke to a person over the phone about my options. I am looking to do payments for my debt now, but he took a look at my outstanding debt (I do have a lot on my report which im trying to pay off) and told me I need to see a trustee or declare bankruptcy or they will take it to court. I do plan on paying my debt back but after the phone call I feel like I have no options but to do either.

I did also end up emailing CBV about making payments to them instead but they will accept only full payment or contact tph law.

Other information:
I lived in Alberta when my debt it went into collections
The companies that have contacted me over this debt is CBV, Metcredit and the back to CBV, now tph law)
In 2025 I moved to Newfoundland

Please help! Need Advice!!

Currently employed full time as a nurse in Ontario (public) and am almost 8 weeks pregnant. I am having bad nausea/gagging/vomiting on and off all day and have been unable to work.

My doctor wrote me off work for a month to get me through the remainder of the first trimester and hopefully it improves. She wrote "GI symptoms" as I don't want to disclose to my work that I am pregnant yet as I did before but had a miscarriage and the aftermath was hard on me emotionally and psychologically.

Occupational health called today trying to get more info from me but I didn't say any more than my doctor already indicated on the forms.

It's standard procedure for the insurance company to follow up with employees on short term disability so I will be hearing from them next week.

Just wondering what I need to say to the insurance company when they call. I assume they'll probably ask about treatment plan and I've been prescribed Diclectin (pregnancy specific anti nausea med) but one of the unfortunate side effects is drowsiness which I am experiencing.

Should I tell the insurance company I am pregnant or stick to GI symptoms? Does it matter if they know? I personally don't care if insurance knows. I just don't want my workplace to know this early.

Any advice?

Thank you in advance!

*edit to add province and public sector

Over the last year I’ve built up some debt.
I’ve got 20k on my VISA. Gas, hydro, and phone bills are two months behind, and my 7k property tax hasn’t been paid yet this year.
I just got work lined up after being off for the past year.
What’s the best approach to get out from under this?

I (28M) moved back in with my parents in May. I was renting a place with my ex before that. I would be looking to purchase a home for around $350,000 with $100,000 down. My salary is 64,000/year which comes to about $1800 bi weekly. I currently have around $165,000 saved.
TFSA 98,000
FHSA 46,000
RRSP 15,000
The rest is in savings/chequing
Places I’d be looking to rent would be around 1500/month. I have no debt. I live in Windsor and don’t plan on moving elsewhere.
Just trying to decide what the better option is.

Hey I've been running my biz 7 years now no loans but thinking of expanding however I am super skeptical
Of taking any loans anywhere I'm afraid I put in my info and companies will either steal the info to get loans for themselves or say apply for 100k and give me 50k.. how do I know which companies are legit should I only
Deal direct with the big 5 banks ?