When it comes to investing in the stock market, many people debate whether it’s worth doing the investing themselves or through a financial advisor. Let’s take a look at the pros and cons to these methods of investing to determine which one is best for you. Before You Begin Before you begin considering how you’ll…
Category: Savings & Investments
Estate Planning Make the most of your funds with a budget
Estate planning You don’t have to be an eccentric billionaire to need to organize your estate. An estate plan is important to ensure that financial matters are resolved quickly, and family and loved ones don’t end up losing much of what you’ve acquired through taxation. Talking about oneself or aging parents passing away isn’t exactly…
When RRSPs are the best choice
While the decision to use a Registered Retirement Savings Plan (RRSP) has been made more complicated over the last ten years by the popularity of the Tax-Free Savings Plan (TFSA), it is still an important savings tool. The TFSA allows an individual to contribute after-tax dollars into an investment and withdraw funds with no tax…
TFSA vs. RSP: What’s Best for You?
As a new generation of Canadians begins dealing with the tricky field of finances, a common question we hear is “What kind of account should I have”? At Encompass Credit Union, we have a wide array of plans and programs for money-savvy Canadians and the most popular for retirement or tax deferral are TFSA and…
How to Pay off Your Debt After Christmas
As joyful as the holidays may be, it can be easy to rack up credit card charges and debt. If you’re unsure about how to pay off your holiday debt, follow our tips below to get started! Set Your Goals Set realistic goals for yourself and focus on paying down your credit card with the…
When a Term Deposit (GIC) is a smart investment choice
Investing your money is important. Some people are more risk tolerant than others, depending on how they view investing, or perhaps even due to the stage of life that they are in. If you’re planning on going into a long term investment with a mutual fund, or RSP, the ups and downs of the market…
Top 12 Christmas Destinations (That You Can Afford!)
Wearing 5 layers of clothes? Muddy footprints by the door? Spending your morning shoveling the sidewalk? Winter is here, but that doesn’t mean you have to be! Here are just a few of the best affordable winter vacations this season. Florida Keys This chain of islands connected to the mainland gives you all the benefits…
A local success story, Jay and Sam Robinson
For Jay and Sam Robinson, the local Credit Union helped them realize their dream. Over twenty-five years ago, Jay and Sam wanted to start their own business, but major financial institutions were not interested in funding them. The local Wainwright Credit Union, now Encompass Credit Union, took a chance on the entrepreneurs, and lent them…
Holiday and Christmas loans, are they a good idea?
Obviously no one should try and take on debt that they cannot afford, and no one should put themselves into a hole they cannot dig themselves out of, based on their income or lifestyle. But there are times where a short-term personal loan, or a revolving line of credit is a perfect choice for upcoming…
Why Does My Mutual Fund Have ETFs in it?
The line between Mutual Funds and Exchange Traded Funds (ETFs) has been blurred the past couple of years. You will now see mutual funds incorporating ETFs in order to gain exposure to a certain sector, country, or style without having to setup a new research department and hire a portfolio manager to make the decisions….
