!personalfinancecanada@lemmy.ca
Come and discuss anything related to personal finance, directly or indirectly, with other Canadians!
!personalfinancecanada
@lemmy.caLots of reasons to be looking at the framework Canada just published for consumer-driven (open) banking, but I thought this was a gem:
from "2.10 A Single Technical Standard"
...The Framework will significantly decrease the risks of personal data being compromised by bad actors and mitigate security, privacy, and liability risks for consumers and participants. This is achieved through the use of APIs, a type of software that acts as secure data “pipes” to enable different products and services to communicate in a consistent manner.
If an API is a pipe, is the Internet a series of tubes?
I'm planning to open a new chequing account in the near future, and I'm contemplating bailing on RBC. I've been with them for a very long time, and one possible outcome is that I'll just open a new RBC account and be done with it. That'd be... fine.
But for a variety of reasons (including my satisfaction with RBC trending steadily downward), I'm thinking about opening this new account elsewhere. I don't have a ton of hard requirements, and I'm not really sure what to look for in a bank, but the following would be nice:
Any suggestions would be great, including anti-suggestions if you happen to know of a bank that I should avoid.
https://globalnews.ca/news/10376032/toronto-couple-sim-swap-scam/
Scammers gained access to a Toronto couple's bank accounts through a ploy called the SIM swap. The pair lost more than $100,000 as a result.
https://tvo.org/article/easy-money-heres-how-to-get-started-on-your-taxes
https://globalnews.ca/news/10348075/a-long-awaited-change-to-canadian-banking-is-coming-what-to-know/
Change is in the works that will give Canadian consumers and businesses significantly more control over their financial data, in what’s known as open banking.
https://www.bankofcanada.ca/2024/01/fad-press-release-2024-01-24/
The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%.
Hey all,
I've been lurking this sub for a bit, and came across your flow chart (which is very similar to the American one, minus the HSA for health care).
Aside from some naming differences, the goals are more or less in alignment. Save 15% of pre tax income for retirement, emergency fund, pay off debts, etc.
Having followed this for some time now, and considering moving to Canada in the future, how screwed would I be in terms of the work I've put into my savings for retirement? Most of it is post tax (Roth), so it might not be as bad as I'm imagining.
In that situation I've heard people leave their accounts as is in the states to let them compound, as you cannot contribute to them with money earned outside of the US.
Does anyone have any insights?
Not my content, I'm not affiliated with StatCan
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What does a modest, basic standard of living look like in your community?
Canada adopted the Market Basket Measure (MBM) as its Official Poverty Line in June 2019. The MBM reflects the combined costs of a basket of goods and services a family needs to meet a modest, basic standard of living. Each year, basket costs are adjusted to account for inflation, and every five years, the MBM basket undergoes a complete review and update.
To ensure poverty continues to be accurately measured in your community, you can provide your input on what this “modest, basic standard of living” looks like in your community via our short, anonymous questionnaire. Please participate—your opinion is important to us!
Le Canada a adopté la mesure fondée sur un panier de consommation (MPC) comme seuil officiel de la pauvreté en juin 2019. La MPC tient compte des coûts combinés d’un panier de biens et de services dont une famille a besoin pour atteindre un niveau de vie de base modeste. Chaque année, les coûts du panier sont ajustés pour tenir compte de l’inflation, et tous les cinq ans, le panier de la MPC fait l’objet d’un examen approfondi et d’une mise à jour.
Pour faire en sorte que la pauvreté continue d’être mesurée avec précision dans votre communauté, veuillez nous faire part de vos commentaires sur ce qu’est un « niveau de vie de base modeste » dans votre communauté en répondant à notre court questionnaire anonyme. Merci d’y participer — votre opinion est importante pour nous!
https://www.ctvnews.ca/canada/these-are-canada-s-new-tax-brackets-and-income-tax-rates-in-2024-1.6730382
Cooler inflation in 2023 is affecting how much Canadians will pay in income tax this year.