Housing, surging cost of living threatens Canadians' retirement security: Survey
Most families are searching for ways to bring down their household costs as the price of just about everything goes up. Installing an energy-efficient heat pump to replace a natural gas heating system or electric baseboards is one way to reduce your utility bill. However, there are pros and cons to heat pumps. You can read about it here.
Boost your wedding budget by 30%: Experts
Weddings are already extremely expensive, but throw a labour shortage and surging inflation into the mix and some event planners are advising their clients to factor a 30 per cent buffer into their wedding budgets. If you want to keep costs in check, experts tell The Canadian Press couples could consider reducing their guest list, celebrating the big day on a weekday or even delaying the wedding until next year.
Looking for a job? There are more than a million openings
Job vacancies topped one million in April, according to Statistics Canada, up 2.4 per cent from March. Every sector saw an increase in job openings but many of them were seasonal as vacancies tend to increase in the spring and summer months. The data comes as many industries struggle with a labour shortage, which is putting upward pressure on wages.
Strategies to store value while inflation erodes your cash
“Once upon a time, cash was king. Not any more,” writes personal finance columnist Dale Jackson as runaway inflation erodes purchasing power. He explains four strategies to deploy extra cash and get the best bang for your buck on the inflation front.
Everything you need to know about renter's insurance
It’s something you should be paying for but hope you never need. Tenant insurance policies can cover everything from water damage to fire to personal liability, but will add an additional $20 to $50 per month to your bill. How do you choose the right amount of coverage for your unique situation? Here are some key issues to consider to help you make an informed decision.
'Perfect storm' threatens Canadians' retirement security: Survey
With the housing affordability crisis, higher borrowing costs and a skyrocketing cost of living, there’s not much money left over at the end of the month to sock away for retirement – and a new survey shows how that’s impacting Canadians. A survey commissioned by Healthcare of Ontario Pension Plan found fifty-five per cent of respondents are concerned about having enough money in their golden years. That’s an increase of six percentage points from last year’s survey.
Housing costs exceed income in Vancouver: RBC
A report from RBC Economics showed it’s almost impossible for many Vancouver residents to afford their home without going into debt. The analysis found mortgage payments, hydro bills and property taxes for a detached home in the Vancouver region would have eaten up an eye-popping 111 per cent of median pre-tax household income in the first quarter. It marks a nearly 22 per cent year-over-year jump.
Sign up for BNN Bloomberg's weekly newsletter, Home Economics, which aims to help Canadians navigate their personal finances in the age of market volatility, surging inflation and higher borrowing costs. Have it delivered to your inbox every Friday by subscribing at https://www.bnnbloomberg.ca/subscribe