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I hear it all the time: “What’s an RRSP?” and “I have to buy RSPs before the deadline!” I once thought these terms could be used interchangeably, but there is a difference between an RSP vs. RRSP. This article will explain what makes these two terms unique, and how they overlap. What is an RSP…Read More
Have you ever wondered: how many credit cards should I have? It’s a good question, but there’s no easy answer: it’s impossible to say exactly how many credit cards you should have since there are different considerations for every individual. But the short answer is that everyone should have at least one credit card, and…Read More
We’re all aware that men and women aren’t the same, and these differences mean that conventional wisdom doesn’t always apply to both groups equally. Just as a doctor may follow different medical guidelines for male and female patients, it’s the same for financial recommendations: what’s good for men isn’t necessarily the best strategy for women,…Read More
Continued low-interest rates in Canada make the costs of borrowing very attractive, especially when purchasing assets that are likely to increase in value over time, such as a home. You may be tempted to take advantage of cheap interest, but is borrowing to invest a good idea? The answer depends on many factors, including the…Read More
Trading in penny stocks can be an incredibly risky venture. Despite wildly successful tales from investors who’ve claimed to earn triple-digit returns on penny stocks, the reality is most penny stock will likely go to zero. One of the most famous penny stocks in Canada is Bre-X Minerals, the Calgary-based exploration company whose stock soared…Read More
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Young and Thrifty has been named the Best Personal Finance Blog in Canada by our peers and we pride ourselves on breaking down confusing jargon into fun, bite-sized chunks. Young and Thrifty posts are basically what should have learned in high school - but didn’t! We have everything from tips on budgeting, to online banking hacks, discount brokerage reviews, and the Ultimate Guide to Canada’s Robo Advisors.
We have painstakingly created 1,000+ on all aspects of Canadian personal finance. Rather than rest on our laurels, we challenge ourselves to produce stay on top of new developments in Canada’s financial world from mortgage rates, to insurance policies, tax savings through new deductions, and investing strategies.
We focus on providing readers with actionable steps. Rather than simply writing “try a robo advisor”, we’ll instead provide full-product reviews on top robo advisors such as Wealthsimple, Nest Wealth, Justwealth, and ModernAdvisor. We also reveal the exact financial products that we use in areas such as online banking, discount brokerages, credit cards, and mortgage comparisons.