20+ year clean driving record. Never had a speeding ticket or a claim of any kind and yet ins keeps going up and up. Driving a paid off 2017 Elantra, park in a private garage. Ins just went up $10/m to $140/m or $1700 a year. Need to find a need ins company.

Hey everyone,

I'm 27F living in BC and have started investing more seriously during the past year, in which I was able to max out my TFSA (Arrived in Canada only in 2023 so my room is only $27,500). I also opened my FHSA in 2024, and I have accumulated room from 2025 so I already have 16K invested there this year.

My question is: Since my income is on the lower end (about 50K), and I don't think it'll improve much in the next years (maybe up to 70k,80k hopefully), should I defer some of my FHSA contribution?

What would you do next if you were in my shoes? I set aside about 2k to invest monthly. I'm wondering if the next step would be to open a non-registered account or investing in RRSP, but since I wouldn't take much benefit from the RRSP tax deduction now and I would probably be taxed on a higher bracket in the future, I'm not sure what do do.

Thanks in advance for all the help!

I want to start buying US stocks, possibly do options, long term still etfs and stuff. I am a huge fan of wealthsimple but was told that IBKR is more suitable and better for my use cases. Should I make the transfer to IBKR?

I did the math and if I just extend my amortization in 5 years my payment will come down 2800 a month and let alone I’ll probably increase my salary atleast another 500 net a month by then as I’m 29. So for those saying to sell my condo now at 200k loss to go rent for 2400 is extremely short sighted ..

Could be dumb and ignorant question..

For those who have maxed out their TFSA, why would you use your Non Registered Accounts to invest in XEQT or any ETFs who return dividends when you have to file the gains at the end of the year? Is it more advantageous to invest in the equivalent _EQT ETFs which delivers 0 dividends?

Would love to hear how others approach growing their non-reg accounts! TIA!

I’m 25,  have roughly 85k in debt and am getting kicked out of my current place. Current debts: student loans 13.5k (0%), credit cards 8k (20%), loc 7k (9%), business loan 23.5k (7%), car loan 35k (6%) 

My current income is 125k or roughly $6600 a month take home after taxes. My expenses are rent 500, car note 700, gas 400, insurance 600 business loan 400, loc/cc minimums 400, phone/inter 110, parking 50, dog supplies 80, food 300. Total expenses: $3540 

My remaining income after my expenses is $3050 a month which is normally put toward saving, paying debt off and personal expenses. But I will need to find a place by the end of September and rent near my work for a 1 bedroom is about $1800 a month or $1000 for a master bedroom.

I’ll be saving roughly $400 on gas/insurance minimum leaving the gta, but this will be offset likely by increased food cost and general house supplies. Based on rough calculations I would spend 1400 extra in expenses monthly roughly leaving me with $1650 after paying my bills each month. If I get a master bedroom I’m left with about $2450 instead. 

I had planned to go back to school for my masters soon to increase my income but I’m not sure if I should  still go or pay off debt first. Masters programs would cost roughly 15-20k and take 2-3 years but bring my income into the 150k plus range although I’d also probabaly be sacrificing some income while completing school. I know this is a lot of info but any guidance or advice is appreciated. 

Before People say I’m just bad at budgeting etc.. I have no debt no car payment just a small condo I pay 3300 for and all my other expenses are 1400 but 1800 left to cover fun spending, investing . Unexpected expenses just keep me up at night. I’m thankful to have 30k in cash for layoff or emergency and 150k in stocks but I really thought Id be able to enjoy life a lot more.. what am I missing?

yes I know my housing is high but renting the same is 2500 which is an extra 800 I can have thats not going to move the needle

I want to know (primarily larger families) how you are all doing after your fixed expenses and what you are finding you are spending primarily on groceries and essentials after all the fixed stuff comes out.

To break it down we are a family of 6 and this is our take home I come monthly (semi monthly payments combined for our 15th and 30th pay deposits)

Hubby: $6060

Myself: $3400

Child tax: $1310 (4 children ages 4, 9, 13 & 16)

Total monthly take home: $10,770

Fixed expenses:

Mortgage: $3408 (monthly)

House insurance: $175

Car insurance: $110

Internet/Cable: $220

Cell Phones: $300 (4 phone lines)

Fortis: $134

Hydro: $162

Debt: $98

Daycare: $634

Family Loan: $300

Total: $5541

$10,770 - $5541 = $5229 leftover.

We try our best to live off of $800 weekly and have enough to put aside. But it is seemingly more and more challenging as the prices rise. The grocery costs are staggering. How much are families spending just on groceries for a family of 6 these days? It seems like we need to increase our weekly essentials costs to $1000 to be able to realistically buy enough food for the household. Curious what everyone else is noticing in this department.

This means one works for 6.1 months and 100% of the wages goes to the gov't.

Can a Canadian explain why this is and do you agree?

i renewed at a variable rate with my same bank about a month ago. its alright but i am pretty sure i could get a fixed rate at a different bank if i wanted to. what are the rules for switching? is it even possible?

the thought of 1250 more in my pocket after tax every month.. I could have gone on trips got a better car .. gifts .. if I just waited 4 years and bought today I feel like I would have been set for life no? My take home is 6500 so 1250 more is like a whole new life to me

Hey guys

I know this is really dumb but i’m 19 and I opened by FHSA on wealth simple and put 50 dollars into it

I didn’t realize there was a 15 year max on it and I really want to close it and open it when i’m in my 20’s and making more money

is this possible

Been working logistics for 5 years, full commission, large private company. Live at home, have a paid off 21’ Camry, zero debt.

For context I am about 150-200k per year, should be 200-250 in the next year or two (good at what I do, and work is 99% of my life)

Went full liquid a month ago with plans to buy a family home, that has been put on hold, doubt it’s going to happen.

I have $320k CAD in cash. 45k TFSA, 55k RRSP. Rest in general savings.

Want to get more in the market, but scared I cant play the long game until I own a home, especially if market takes a dive around the time i need/want to buy a home, most likely on the open market.

Do I put all my cash in a 2% mutual fund, wait for a dip on the market and do it my self (xeqt or something similar)

WHAT DO I DO

Note, of course the smartest option is to live at home as long as possible and save money. But I have been making great money for years, at some point it’s natural to want independence.

PS I KNOW I AM FORTUNATE and it’s a 1st world problem but idk what to do. I had zero family or friends connections to make it here, and want to make sure I maximize my “wealth” so I can try to make my families lives better (and my own) as I get older

I want to buy a house/duplex atound montreal in the next 2 or 3 years. My mom is going to give me 30k. Currently i have 37k in my tfsa, 50k in my rrsp and 9.7k owed in my line of credit (tied to my tfsa). All of that is in wealthsimple. I also have a car payment. I owe about 6.5k on the car.

I want to know what i can do with the 30k in order for it to grow until i buy my house/duplex.

Ive noticed something with a few people lately. They opened their investment account at a bank, met with an advisor once, picked some funds… and then basically heard nothing for years.

Sometimes the advisor whose name appears on the statement isn’t even the person who originally opened the account. They moved branches, got promoted, or left the bank, and the account was quietly passed to somebody else.

Maybe “orphaned” is too strong a word, but that’s kind of what it feels like.

This doesn’t automatically mean the investments are bad. There are good bank advisors and bad independent advisors too. But if someone is paying an annual management fee, I think it’s fair to ask what service they are actually receiving for it.

A few things I would probably check:

• Is the advisor on the statement still the person managing the account?
• Has anyone reviewed the investor’s goals, timeline or risk tolerance recently?
• Does the portfolio still match what the money is for?
• Are the recommended products being compared with alternatives outside that bank?

The last point is the one I struggle with. A bank advisor generally works within that institution’s product shelf. That doesn’t make them dishonest, but it does mean their starting point may be different from yours. You want the best fit available; they may only be able to recommend from what their institution offers.

I’m not saying everyone should move their investments away from a bank. Honestly, for some people the convenience and support may be worth the fees.

But if the account hasn’t been reviewed in three or four years, what exactly are those fees paying for?

For people who invest through a Canadian bank: how often does your advisor contact you, and do you feel you’re getting enough value for the fees?