Category: Saving strategies

How a GIC can help you save

A Guaranteed Investment Certificate can help you diversify your portfolio holdings.

When it comes to investments, diversification is key and the saying “don’t have all your eggs in one basket” is as true today as when it was first coined. Savvy investors understand the need for diversification and they make sure to have their money in a range of products and holdings. When it comes to … read more

TFSAs and your retirement

Read how you can use a Tax-Free Savings Account to help boost your retirement savings.

When Canadians turn their thoughts to retirement savings, it is the Registered Retirement Savings Plan (RRSP) that typically first comes to mind. This is understandable as the RRSP program dates way back to 1957 and remains a popular way for Canadians to build their retirement savings. One of the primary features of an RRSP is … read more

How I’m making my TFSA work for me

Learn how Barry Choi uses a Tax-Free Savings Account to save for his retirement.

On January 1, 2009, the Canadian Government introduced Tax-Free Savings Accounts (TFSA). The concept was “simple”; every year, any individual who is 18 years old or older and who had a valid Social Insurance Number could contribute/invest a set amount of dollars. For the first year, the maximum allowable contribution was $5,000. I put simple … read more

Tax Free Savings Account: The basics

Rubina Ahmed-Haq explains the basics of a Tax-Free Savings Account.

The Tax-Free Savings Account (TFSA) turned ten this year and since 2009 everyone in Canada over the age of 18 and who has a valid social insurance number (SIN), is eligible to open a TFSA. However, despite being around now for a full decade, many Canadians still don’t understand how a TFSA works and how … read more

Money rules I live by

Read the latest from financial expert Barry Choi in the Oaken Blog.

Growing up, I was fortunate that my parents taught me some of the basics when it comes to finances. It’s not like they had a ton of money or worked in the financial services industry. They were immigrants who understood the value of a dollar and passed those values down to me. The truth is, … read more

6 ways to start saving on your monthly bills

Check out these ideas for how you can save on your monthly budget.

Creating a monthly budget is one of the best things you can do to help you successfully save for a goal. A budget not only tracks your spending each month, it also makes it easier to review each individual expenditure. When reviewing your monthly budget, be sure to take a close look at those recurring … read more

Celebrating Financial Literacy Month

A recent survey shows that the majority of Canadians feel they are not financially knowledgeable.

November is Financial Literacy Month, and we’re doing our part to help spread the word. This initiative was started by the federal government in 2012, and is led by the Financial Consumer Agency of Canada (FCAC). Improving your financial literacy is an important step in taking command of your affairs, and we’re joining with other … read more

Money tips for returning to work after maternity leave

Rubina Ahmed-Haq discusses what you need to consider as you prepare to return to the workforce following maternity leave.

Going back to work after maternity leave can be a big adjustment. After all, you’ve probably spent every day of the last year with your precious new baby. With all the emotions that come with going back to your job, there’s a financial aspect to consider as well. You’ll be earning a full paycheck again, … read more

Pre-baby financial planning

Rubina Ahmed-Haq has some great advice to help you understand your maternity leave options.

You just found out you’re having a baby. Congratulations! This can be an exciting time as you prepare for the new bundle of joy to enter your life. This is also the best time to take a good look at your personal finances and make adjustments now for what is inevitably going to be an … read more