Chidinma Mbanefo

There is a question most people do not think about until they are sitting in front of an account-opening screen: where exactly should this money go? The same investment can produce very different results depending on the tax wrapper around it. Fortunately, Canada has some excellent options and the government is essentially offering free tax breaks to encourage use. Accounts fall into two buckets: registered (government-linked, with tax benefits) and non-registered (no perks, no limits).

Over the next few months, we will talk about investing, starting from the basics and building up to where and how you can actually put money to work. At its core, investing is simple—it is putting money into something today that you expect will be worth more in the future. That could be stocks, a home or part of a business. The goal is to grow your money over time. Why invest instead of just saving? Because life is short, but also very long. We’re living longer than ever.

I recently applied for a new credit card and was reminded just how confusing the process can be. There are so many options, all with different perks, rewards systems, and fee structures, that it’s difficult to figure out the right one for you. The truth is, the best credit card is different for everyone and really comes down to understanding your own spending habits and financial situation. The first step is understanding where your money actually goes.