Personal Finance Articles, Guides & Videos | Wealthsimple (2024)

Investing

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Investing 101 For Beginners | How To Start | Wealthsimple

By Andrew Goldman

Want to invest like a pro? Learn the basics of investing from us and we'll have you on the road to investing in no time.

What Happens When The Stock Market Crashes?

By Luisa Rollenhagen

A stock market crash can sound quite scary, and has historically been associated with significant losses. But crashes don't need...

The Market Crash of 2008 Explained

By Veneta Lusk

The stock market crash of 2008 was the biggest single-day drop in history up to that point. Learn more by reading on here.

Stock Market Crash 1929 - Key Facts

By Luisa Rollenhagen

The stock market crash of 1929 is considered one of the worst financial disasters of modern history. But how did it happen, and what can...

How the Stock Market Works In Canada?

By Andrew Goldman

Losing sleep wondering how the stock market works? Today's your lucky day. We'll impart all you need to know to become a market pro in...

Active vs Passive Investing in Canada 2022

By Andrew Goldman

Not sure of the difference between these two investment philosophies? Not for long you're not! We'll set you straight and even...

Financial Advisors: How To Choose & The Cost

By Michael Allen, CIM

Find out exactly what a financial advisor does, what they cost, and why you might need one. We'll also give you our best advice...

Best way To Invest Money In Canada 2022

By Andrew Goldman

All the fundamentals the beginning investor should know to make wise investment decisions. Find out how and where you should invest your...

Best Investing Strategies

By Roger Wohlner

There's no one-size-fits-all best investing strategy—everyone's needs and goals are different. But there are some basics that most...

Saving

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Emergency Funds: What, Why & How Much

By Andrew Goldman

Even if you’re subsisting on $.30 packages of ramen, you still gotta have a kitchen in which you can prepare it. This is where the...

Best High-Interest Savings Accounts in Canada

By Luisa Rollenhagen and Lisa MacColl

Find best high interest savings accounts in Canada using our 2022 comparison. We provide tips on choosing and compare accounts...

How To Save Money - Top Saving Tips

By Lisa MacColl

You're wondering how to save money. It can be tough, but we have all the tips and tactics you need to get started saving money.

How to Save for a House

By Luisa Rollenhagen

Advice, tips and tricks you need to save for your dream home. Find out how to save for a downpayment and a house itself.

What Is A Savings Account? And How Do They Work

By Luisa Rollenhagen

Wondering what a savings account is? We'll explain what they are, how savings accounts work, how to open one and calculate the...

How much cash should I keep as emergency savings?

By Andrew Goldman

The general rule of thumb is that you should have three to six months of expenses saved away.

Taxes

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How to File Taxes Online for Free in Canada

By Andrew Goldman and Aja McClanahan

Learn how to file taxes online in Canada. This guide will go over the different options you have to submit a complete tax filing...

Canada Tax Brackets 2024 | Federal & Provincial/Territorial Tax Brackets

By Lisa MacColl

You know there are tax brackets in Canada — but what are they this year? Wonder no more. Click here to learn everything you...

Capital Gains Tax Canada | 2023 Short-Term & Long-Term Gains

By Lisa MacColl

If you're hearing about capital gains and have a capital headache trying to figure it out — you've come to the right place. Here’s...

The Ultimate Guide to T4 Slips

By Andrew Goldman

The T4 is the king of the jungle of tax slips. This quick guide will provide all the essential T4 info you’ll need about the famous T4...

A Guide To Form T2200

By Andrew Goldman and Dennis Hammer

If you’re an employee who hopes to deduct work expenses, you’ll need Form T2200. This guide tells you everything you need to know.

Crypto

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What is Cryptocurrency: A Beginners' Guide

By Robert Stevens and Zaid-Ul-Haq

Cryptocurrencies are a type of digital asset that run on blockchain technology. Here’s everything you need to know.

Ethereum vs Bitcoin: The Difference

By Robert Stevens and Zaid-Ul-Haq

Ethereum and Bitcoin are the largest and most important cryptocurrencies in the world. Here’s how they are different.

How To Buy Bitcoin In Canada (2022 Updated)

By Robert Stevens

Want to buy Bitcoin but not sure where to start? Pay attention: here’s everything you need to know about buying Bitcoin.

Accounts

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Everything You Need to Know About Tax Free Savings Accounts (TFSAs)

By Andrew Goldman

A Tax Free Savings Account is not only one of the great wonders of the world, it’s also one of the great misnomers of the...

What Is the TFSA Limit for 2024?

By Andrew Goldman

Curious to know the TFSA limit for this year or any year since 2009? We've got 'em all, plus other important information about limits.

What is an RRSP? Registered Retirement Savings Plan Explained 2024

By Andrew Goldman

An RRSP happens to be one of the most important accounts Canadians can use to prepare for retirement. Read on to learn...

Everything You Need to Know About RRSP Contributions

By Lisa MacColl

A Registered Retirement Savings Plan (RRSP) is a savings account to help you plan for your retirement. Here’s how it works.

RRSP Withdrawals: What You Should Know

By Lisa MacColl

Thinking of withdrawing your RRSP? Here's everything you need to know about RRSP withdrawals from withholding tax to withdrawal rules.

Chequing vs Savings Account

By Luisa Rollenhagen

What's the difference between a savings and chequing account — we compare them both and let you in on the pros and cons of each.

RESP (Registered Education Savings Plan): What It Is & How It Works

By Andrew Goldman and Luisa Rollenhagen

An RESP is a tax-free savings account for a child’s future education, funded by the Canadian government. Here’s how to save...

What is a Corporate Account?

By Andrew Goldman

It's the answer to a question as old as the CRA. Find out what a corporate account is and why you might use one.

What's a LIRA?

By Andrew Goldman

It's an account that lets you roll over money from a pension account after you leave your job.

Finance

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Employment Insurance in Canada

By Luisa Rollenhagen

Employment insurance is a government program that ensures you’re financially supported if you lose your job. Here’s who’s eligible, and...

How to Prepare for a Recession

By Katherine Gustafson and Dennis Hammer

The threat of recession is always with us. Some experts think one may be coming soon. So let’s talk about how to prepare for a recession.

How to Make a Budget

By Luisa Rollenhagen

It's never too late to learn one of the most essential life skills: making and sticking to a budget. Let us show you how to budget like a...

The Ultimate Guide to Money Management

By Katherine Gustafson

Managing your money is deceptively difficult. Even those with a lot of it can easily put themselves in a financial hole. And those who...

How to Switch Banks

By Dennis Hammer

If your current bank isn’t meeting your needs, it’s time for a change. These steps will teach you how to switch banks.

What’s a good credit score?

By Andrew Goldman

Here’s the simple, three-digit answer you’re likely seeking. Anything above 700 is considered a “good” credit score.

Retirement

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Retirement Planning | Why Retirement Planning is Important in Canada

By Andrew Goldman

We aim to provide easy-to-follow advice about retirement for everyone, from recent university grad whippersnappers to those...

How Long Will My Retirement Savings Last?

By Luisa Rollenhagen

Find out how long your retirement savings will last and what you can do to extend that time regardless of how much you have.

When Can I Retire?

By Andrew Goldman

Flummoxed about the exact age you should retire? This easily-followed guide will provide you with all the factors you'll need to take into...

Retirement Strategies

By Andrew Goldman

Retirement can be your second childhood—but hopefully with a lot more money. We've got a few helpful financial strategies to keep your...

Financial Independence Retire Early

By Ryan O'Leary

Financial Independence Retire Early (FIRE) is becoming increasingly popular among millennials who want to leave the rat race of normal...