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Mind your mortgage

Higher interest rates can cut both ways.

The upside is you earn more on high-interest savings accounts.

The downside is you potentially pay more on your mortgage and home equity line of credit (HELOC).

The latter is a bummer for many homeowners, who may now be facing renewing their mortgage today as their term runs out.

Mark Fraud Prevention Month by taking stock of safeguards

Canadians know fraudsters are trying to separate them from their money.

More consumers considering insolvency to deal with crushing loans.

Budgets are fraying at the seams as interest rate hikes and rising prices pile on top of all the other costs of living, and insolvencies — bankruptcies and consumer proposals — have surged back to pre-pandemic levels as a result.

Not too late to make good on tax and financial resolutions

Yes, I realize that the third week of January is a little late for new year resolutions. But I think that’s good.

The pluses and perils of credit card ownership

Getting a credit card is a rite of passage for most young adults.

TFSA bump, dental benefit can help people save in the new year

If you’re looking to save for a first home, or to just put more money aside to grow tax-free for the future, 2023 offers a host of new or expanding tax and benefit programs.

’Tis always the season (for estate planning)

Sorry to kill the buzz from the eggnog with a somber discussion about death and money.

Hosting a holiday dinner? Here are some cost-saving tips

TORONTO - When Canadians soon gather with loved ones for holiday meals, there will be an unwelcome guest at the dinner table: decades-high inflation.

The measure of how much prices have increased shows grocery bills rose by 11 per cent over the last year alone.

"It's crazy, like you need a mortgage to go to the grocery store right now,” said Danielle Gasner, who runs a Toronto catering business and the Girl Gone Kosher food blog.

Similar observations are being made across the country as holiday fixings, including Christmas turkeys and hams, Kwanzaa celebrators’ jollof rice and collard greens and even oil the humble Hannukah latke gets fried in, have risen in price.

Canadian Real Estate Association reports home sales down in November

OTTAWA - The Canadian Real Estate Association says seasonally adjusted home sales were down 3.3 per cent on a month-over-month basis in November.

The association said Thursday the move lower more than erased the gain seen in October and resumed the overall trend lower for the year.

CREA said about 60 per cent of all local markets saw lower sales in November, led by Greater Vancouver and the Fraser Valley, Edmonton, the Greater Toronto Area and Montreal.

Compared with a year ago, actual home sales in November were down 38.9 per cent compared with November 2021.

National average rent was over a record $2,000 in November says Rentals.ca

MONTREAL - The average monthly cost to rent a home in Canada rose to a record $2,024 in November, new data shows, and experts say this trend is showing no signs of stopping.

The National Rental Report published Tuesday said the average price for rent in November was up 2.5 per cent compared with the month before.

On average, renters are paying $224 more per month compared with a year ago, for a gain of 12.4 per cent.

According to the report, the average cost of rent surpassed pre-pandemic prices by 10.5 per cent.

CRTC refuses Telus request to add credit card processing fee to certain bills

OTTAWA - Canada's telecommunications regulator refused a request from Telus Corp. to charge some customers a credit card processing fee.

While Telus didn't need the CRTC's approval to add the surcharge, the regulator said Thursday that it was concerned about its affects on affordability, consumer interest and "the most vulnerable consumers, who rely on credit cards to pay their everyday bills."

"The CRTC is sending a clear message to Telus and other telecommunications service providers that are thinking of imposing such a fee on their customers," the regulator said in a news release.

"Should the practice continue, the CRTC will explore all available regulatory options."

Canadians look to side hustles to make up for inflation pressure, but at what cost?

MONTREAL - Canadians' budgets are being stretched thin as the cost of living climbs — and to compensate, some are taking on a side hustle.

From reselling used items or dog walking to taking shifts driving for delivery services and acting as a brand ambassador, there are plenty of ways to earn some extra cash.

Erin Rappaport, a Montreal-based human resources generalist, has made extra money in a few different ways.

Rappaport has worked as a brand ambassador for various companies, offering free samples and proving product information at famous sites around Montreal such as the Bell Centre.