Reviewing Your Personal Finances

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Take a few minutes to think about your current financial situation and then answer the following questions:

  • Have you reviewed your personal finances lately?
  • How much do your debts, savings and/or investments amount to?
  • Do you have a clear idea of your total income and expenses?
  • Do you have specific savings or investment goals?

If you’re not sure about the answer to any of these questions, or if you’re not satisfied with your answers, this brochure can help you.

Choosing Investments

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Think back to the first time you made an investment, for example, by contributing to your RRSP. Then answer the following questions:

  • Which type of investment did you choose (e.g. stocks, bonds)?
  • Are the capital and the return guaranteed? If so, who is offering the guarantee?
  • What are the conditions for cashing in your investment?
  • What is the expected return?
  • How much tax will you have to pay on the gains?
  • Are there other more suitable investments for you?

Many investors can’t answer these questions. Yet this is YOUR money. So, before investing, investigate.

Choosing an Investment Dealer or Representative

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You’re a novice or seasoned investor who could use some assistance on where to place your money. Answer the following questions:

  • Do you know who to ask for investment assistance?
  • If so, is this person authorized to offer the financial products and services you need? How is this person paid (e.g. commission, salary)?
  • What will this person do to help you achieve your investment goals?
  • Are you able to provide this person with a detailed picture of your financial and personal situation so that he/she can recommend the appropriate products and services?

Many investors can’t answer these questions. But since this is YOUR money we’re talking about, you need to do your research before handing it over to anyone

Benefit from the HBP while staying on course for retirement!

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Since its inception in February 1992, the Home Buyers Plan (HBP) has helped about two million Canadians buy their first home. Around $15 billion has been withdrawn from Registered Retirement Savings Plans (RRSPs) to finance first-home purchases.

How does the HBP work? Is it better to pay back your HBP very quickly or contribute to your RRSP? Is it preferable to put the down payment in an RRSP and then withdraw it under the HBP or use the amount directly? What are the consequences of making HBP withdrawals?

This brochure answers questions such as these.

Trust must be earned!

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If you're about to seek assistance for the management of your affairs, this new guide is for you. It will help you choose a professional and avoid misunderstandings when assigning a mandate and giving a power of attorney (pdf - 180 KB)This link will open in a new window.

My first credit card, I'm taking charge!

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What a new credit card user should know:

  • When will I pay interest fees?
  • What is a credit report?
  • Shopping for a credit card, managing expenses and paying bills.
  • For good measure: Examples to better understand how a credit card works.

For more information, visit the AMF youth website: TesAffaires.com This link will open in a new window