awesome-personal-finance-canada

Contents

Resources

• Banking Services
• Investment Services
• Blogs
• Podcasts
• Community
• Books
• Courses
• Tools
• Calculators

Key Topics

• Registered Accounts
• Unregistered Accounts
• Common Personal Finance Terms/Concepts
• Home Buyer Benefits

Resources

Banking Services

• EQBank - Free online bank with consistently great HISA rates.
• Tangerine - Free online bank with competitive HISA, mastercard, and LoC options.
• Simplii - Free online bank with competitive Visa card and LoC options.

Investment Services

• Wealthsimple - Powerful financial tools to help you grow and manage your money.
• Questrade - Powerful self directed investing platform with robo advisor option.
• IBKR - Self directed investing with competitive fees.

Blogs

• Canadian Couch Potato
• Million Dollar Journey
• Mr. Money Mustache
• The Penny Hoarder
• The Rich Moose

Podcasts

• Rational Reminder

Community

• r/PersonalFinanceCanada - Subreddit with advice on personal finance in Canada.
• r/personalfinance - Subreddit with advice on personal finance (mainly in US but also Canada).
• r/fican - Subreddit with the goal of helping people become financially independent.
• r/PFtools - Subreddit for personal finance tools.

Courses

• McGill Personal Finance Essentials - A course by McGill University providing the knowledge and confidence to make a lifetime of smart financial decisions..
• Investment Vehicles, Insurance, and Retirement - A course by Khan Acadameny that describes mutual funds, ETFs, retirement accounts, life insurance and hedge funds.
• Wealthsimple Investing Master Class - A 10-part, 45 minute course covering investment basics.

Books

• The Wealthy Renter - A balanced look at the cost of home ownership in Canada
• The Wealthy Barber Returns - If you've always thought of money as a dry subject, let Dave show you how interesting it can be.

Tools

• Passiv - Passiv turns your brokerage account into a modern portfolio management tool. Build your own personalized index, invest and rebalance with the click of a button.
• Wealthica - A service that aggregates all your accounts and assets into a single dashboard.
• Mint - A web-based personal financial management service for US and Canada.
• YNAB - A multi-platform personal budgeting program based on the envelope method.
• LunchMoney - Delightfully simple personal finance & budgeting.
• Ghostfolio - Open source wealth management software.

Calculators

• Income Tax Calculator - Calculate the amount of income tax you should pay based on your income, capital gains, dividends, etc.
• Mortgage Calculator - Calculate mortgage payments, monthly expenses, total interest paid, etc.
• Interest Calculator - Calculate the amount of interest for compounding investments.
• Retirement Calculator - See an approximation of your retirement based on your current savings and expected future savings.

Key Topics

Registered Accounts

• TFSA - Tax Free Savings Account
• RRSP - Registered Retirement Savings Plan
• RESP - Registered Education Savings Plan

Unregistered Accounts

• Capital Gains Tax
• ACB - Adjusted Cost Basis

Common Personal Finance Terms

• Power of compound interest
• DCA: Dollar Cost Averaging
• FIRE: Financial independence and retire early

Home Buyer Benefits

• HBP: Home Buyer Plan - Ability to use funds from your RRSP toward your downpayment
• Land Transfer Tax Rebate - Rebate on land transfer fees
• First-Time Home Buyers Tax Credit - Help recover closing costs such as legal expenses, inspections, and land transfer taxes.