New Year’s resolutions

More Canadians are feeling optimistic about their personal finances and they’re planning major changes to boot.

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  • More Canadians are optimistic that their personal finances will improve this coming year compared to last (37% vs. 32%, RBC’s Canadian Consumer Outlook has found. They, along with the 20% that believe things will get worse, are planning major changes in 2013 to help ease their financial worries.  One-in-three Canadians are planning to focus on reducing their debt, 26% on spending less, 25% on saving or investing more and another 20% intend to take all of the these actions in 2013.
  • Canada’s oldest company began trading on the Toronto Stock Market Monday with a lukewarm reception. HBC shares closed to the day at $16.89, slightly below asking price. Preliminary results show showed total revenue rose to $930.4 million for the third quarter ended Oct. 27. Potential investors will no doubt be watching for The Bay’s holiday profit reports in the coming months.  HBC said it plans to pay a quarterly dividend with a target payout ratio of 20 to 25 per cent of expected net earnings.
  • Looking to compare mortgage and insurance offers? A new website, LowestRates.ca,  has just launched promising unbiased and comprehensive rate comparisons from leading financial institutions all in one place. Try it and tell us what you think.
  • The Blunt Bean Counter writes about RRSP/RRIF transfers to a spouse and how they can go very, very wrong in some cases.

7 comments on “New Year’s resolutions

  1. Hopefully people follow through with their plans to pay off debt and save more. Although debt load for Canada has been constantly increasing, so people need to put real action to their plans.

    Reply

  2. I checked out the website you mention, lowestrates.ca, and it seems pretty cool. I am looking for a new mortgage and it made it easy for me to compare offers from different banks rather than having to deal with each of them individually. Also, they have a great credit card comparison tool. Thanks for telling us about it!

    Reply

  3. It is nice to see a site like LowestRates.ca. I have been using comparison websites like Expedia and Hotwire for vacations for years. I like this site because I can actually save a lot more money on things like car insurance or a mortgage by comparison shopping than I can on a trip to the Caribbean. It is a great idea and a site I will use. Great advice Stefania!

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    • Happy to share Thriftysue. Just remember the list of providers included in the comparison tool is not exhaustive. It is however, a great starting point for your research.

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  4. I just used http://www.lowestrates.ca and found a better mortgage rate than what my broker was pushing me on. Thanks for the find!

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  5. Thanks Stefania for your advice. I just noticed that in your article you called the site LowRates.ca. It is actually LowestRates.ca. The link took me to right the site but the name in the article is a bit off. Just thought I would let you know so your other readers would not be confused. Keep up the awesome articles!

    Reply

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