What is a Routing Number?
In Canada, your routing number is a combination of the 5-digit branch number and the 3-digit financial institution number that can be found on the bottom of your personal cheques. In the U.S. a routing number is a nine-digit number. A routing number identifies your bank or financial institution in a… Read More
What is a Stop Payment and How Do I Make One?
When it comes to money, it’s easy to make a mistake, especially when you’re dealing with multiple payments to multiple vendors at any given time. Fortunately, a stop payment can do exactly what it sounds like – stop the payment! Below we will explore what a stop payment is, how… Read More
How Much of My Income Should I Save?
Saving is an important aspect of personal finance. By saving, you can achieve your long term financial goals and obtain the more expensive things in life that you have always wanted. Since saving is so crucial, the question now becomes, “how much of my income should I save?” The answer… Read More
A Beginner’s Guide to Investing Money
One of the big topics within the world of personal finance is investing. Investing involves spending money now to make more money in the future. What you spend your money on today will impact your financial future so it’s important to understand the consequences of your expenditures. Many Canadians invest… Read More
Sprout – Simplify Your Finances
We are extremely excited to announce the launch of our App (currently in Beta) that will simplify & demystify money for Canadians. This is a huge milestone for [Sprout Financial Inc] us and we’re excited to get our user’s feedback so we can continue to Sprout (pun intended!). How Does… Read More
Everything You Need to Know About a Financial Plan
Claudia DoRego, Planswell As you begin to plan out what you would like your financial future to look like, based on both your short and long-term goals, you’ll realize that there is a variety of money managing strategies that you can use to help. A term that… Read More
What is a Wire Transfer?
There are a variety of ways you can send money, particularly in this day and age with the accessibility and ease of banking technology. Wire transfers are one of the many ways to send money but are especially useful if you want the money to get where it is supposed… Read More
Who Can Freeze Your Bank Account in Canada?
Having a frozen bank account is absolutely frustrating and nerve-wracking. Freezing bank accounts is a tool that creditors often use to get the attention of those who owe them money, particularly if other forms of communication have not worked in the past. When your bank accounts are frozen, you are… Read More
Is 0% Financing Really a Good Deal?
When it comes to getting a loan, interest is typically a part of the overall package. Obviously, the lower the rate, the less you’ll have to pay over the life of the loan, making it a more affordable arrangement. For this reason, it makes… Read More