Go to Main Content

Advertisement

By Stefania Di Verdi on November 9, 2012
Estimated reading time: 2 minutes

Passing grades

By Stefania Di Verdi on November 9, 2012
Estimated reading time: 2 minutes

Canadians are feeling better about their financial knowledge but a new report card shows there's still plenty of room for improvement.

Advertisement

question_mark_1210_322

- Three-quarters of Canadians would give themselves at least a ‘C’ grade for their level of financial knowledge, according to BMO’s second annual Financial Literacy Report Card. Ten per cent would give themselves a ‘A’ grade. The report, conducted by Pollara, also found Canadians are most knowledgeable about RRSPs, TFSAs and GICs but struggle with RDSPs, ETFs and DRIPs.
- A Toronto investment dealer, Octagon Capital Corporation, has refused to compensate a customer $181,339 as recommended by the Ombudsman for Banking Services and Investments. The OBSI has begun naming and shaming unco-operative members in an effort to give the federal watchdog more teeth. In recent years, banks including RBC and TD have withdrawn their consumer businesses from the OBSI because they are unhappy with the process.
- When choosing a travel credit card, pick the one that offers the best and most flexible rewards, TD says. Here’s an infographic from the bank on how to get the most bang for your buck and don’t forget to check MoneySense‘s rankings of the best travel credit cards in Canada.

Congrats to our MoneySense Guide to Investing in Stocks winners Judy, Jeff and Kendall. The contest is now closed.

a Rafflecopter giveaway

Comments Cancel reply

Related Articles

People walking at a Canadian airport, as talk about passenger rights changes are a buzz.

Changes to flight passenger rights in Canada

New rules clarify when travellers are compensated for flight disruptions.

Changes to flight passenger rights in Canada

A car steering wheel and a bowl of pasta, as symbols of how to get the best auto loan interest rate.

Car loan interest rates: What’s the best Canadians can get?

Car loan interest rates can be as confusing as a complicated recipe, and just as daunting to navigate. This...

Car loan interest rates: What’s the best Canadians can get?

Newcomer to Canada buying their first car at the dealership asking questions of the sales person about getting a car loan.

Newcomers to Canada

Auto loans for newcomers—questions to ask when buying your first car in Canada

Buying your first car in Canada is like any other major purchase. Ask a lot of questions, not just...

Auto loans for newcomers—questions to ask when buying your first car in Canada

A woman pumps gas into her sedan

What is the Canada Carbon Rebate? Plus, dates and amounts for 2025 rebates

The Canadian government is sending out the last carbon rebate of 2024. See who’s eligible and how much you...

What is the Canada Carbon Rebate? Plus, dates and amounts for 2025 rebates

A smiling woman drives a car in winter

Compare auto insurance quotes for Toronto

When buying car insurance, it pays to shop around. Here’s what affects the price of car insurance in Toronto...

Compare auto insurance quotes for Toronto

A woman gives another woman a wrapped holiday gift

Cash Allocation

Planning holiday spending and cash gifts? Here’s how to boost your budget

Planning holiday spending and cash gifts? Here’s how to boost your budget

A middle-aged couple dance in their new condo

Cash Allocation

Your home sold—now what?

Your home sold—now what?

A man and woman consider paint chips in their new condo

How changes to the Home Buyers’ Plan could affect your down payment

How changes to the Home Buyers’ Plan could affect your down payment

A smiling young woman takes a selfie in her new home.

Unsure about buying a home? Why you should open an FHSA now anyway

Unsure about buying a home? Why you should open an FHSA now anyway

Canadian couple outside of home, wondering if they should transfer it to their corporation.

Is transferring your principal residence to your corporation a good idea?

Would swapping a house for cash from a corporation save on taxes? And is this tactic worth it in...

Is transferring your principal residence to your corporation a good idea?