What is Inflation and the Importance of Earning Interest on Your Savings

If you aren’t a banker, investment broker, or someone who deals with financial topics on a daily basis, you probably don’t have a good grasp of inflation. And frankly, who could blame you? Economies are nothing short of complicated and there are plenty of factors that contribute to inflation.

Understanding the ebb and flow of inflation is a key part of ensuring that your personal finances are set up for success. This is particularly true if you plan on setting up an interest-bearing savings account—but inflation is going to affect your finances one way or another, from your mortgage to your daily cup of coffee.

Saving Or Investing: What Is Right For Canadians?

When you're contemplating whether to save or invest, you have to weigh the option that's most suitable for your financial situation. Of course, you can do both at once. However, there are times when you can only do one at the moment. Suppose you have a great job, good benefits, and excess in funds, perhaps investing some of that excess is right for you. However, if you work a traditional …