Personal Finance Basics

Take control of your financial future.

Your personal finance journey starts here

Personal finance can feel intimidating, but we’re here to help. Explore frequently asked questions about everything from insurance to investment products and budgeting. We’ll meet you wherever you are on your journey.

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What is diversification?

What is dollar-cost averaging?

Is debt good or bad?

What is compound interest?

Is it normal to get emotional over investing?

What's the difference between stocks and bonds?

How can I make an impact with my investments?

What is the difference between registered and non-registered accounts?

Do I need a financial plan?

What does a financial advisor do?

What are the different types of registered accounts?

What is a mutual fund?

What is an Exchange Traded Fund (ETF)?

How does the income tax system work?

What are the key features of an RDSP?

Should I opt in to my employer's RRSP matching program?

How do I take control of my finances?

Why is my credit score important?

How do I adjust my financial plan during a divorce?

What different types of insurance are available to me?

What do I need to consider when writing my will?

Who should I choose as executor for my will?

I'm about to have a baby, what should I expect financially?

What is a family trust?

Which funding strategy should I use for my child's RESP?

How do I talk to my kids about money?

Why do people purchase life insurance?

What is the difference between term and permanent insurance?

What life insurance coverage do I need at each stage of my life?

What are the different types of insurance policies?

I'm still young, do I need life insurance?

Do I need a will?

What do I need to think about before meeting with a lawyer to have my will done?

When should I update my will?

What should I consider when choosing guardians?

What is the difference between critical illness and disability insurance?

What is an in-trust for account?

How do I prepare financially for having a baby?

What are living benefits?

What is critical illness insurance?

What is disability insurance?

Why is an estate plan important?

What are the common myths of estate planning?

Are there tax breaks for parents in Canada?

What is participating whole life insurance?

What is an RDSP?

How do I protect my children financially?

Do I need a marriage contract?

How can I share financial responsibility with my partner?

Are there tax breaks for married or common-law couples?

What should I do to prepare financially for marriage?

How will my divorce affect my taxes?

What is a postnuptial agreement?

Should I look at my insurance after a divorce?

What is a Certified Divorce Financial Analyst (CDFA)?

Why do people purchase life insurance?

Should I open a joint bank account with my elderly parents?

What can I do to help my aging parents manage their money?

What care options should I consider for my elderly parents?

How can I help my aging parents prevent financial fraud?

How can I start a conversation with my aging parents about finances?

What does an executor do?

What is the difference between term and mortgage insurance?

How does a credit score work?

What is the difference between fixed and variable mortgages?

How does a mortgage work?

How can I help my children become homeowners?

What is an immediate financing arrangement (IFA)?

What are the advantages of incorporating a business?

What is an estate freeze? What are the benefits?

What is key person insurance?

What questions do I need to consider during succession planning?

What is the difference between traditional benefits vs. health spending accounts?

What are RRSPs and TFSAs?

How can I save for retirement?

Can insurance be an asset class?

Do I need life insurance? What are the different options?

What are Employee Assistance Programs (EAPs)?

How do you transfer a family business?

How do you choose the right insurance plan for your employees?

What are some tips for running an effective family business meeting?

What insurance do I need as a business owner?

What types of group benefits are available to me and my employees?

Salary or dividends? How should you pay yourself?

I'm self employed, what are some tax tips?

What are the TFSA annual contribution limits?

What is planned giving?

What is ESG investing?

Four things to keep in mind during a volatile market

What are nominal returns?

What is inflation?

How important is it to stay invested?

What is the relationship between risk & return?

What is the cycle of investor emotions?

What are alternative investments?

What is an RESP?

What is asset allocation?

What is the difference between an FHSA, RRSP and a TFSA?

What is a GIC?

What factors can help me spot an investment scam?

How is my investment income taxed?

What is the Tax-Free First Home Savings Account (FHSA)?

What are the pros and cons of buying an income property?

What are the basics of budgeting?

What is the 50/30/20 rule?

Do I need an insurance advisor?