Canadian Personal Finance Guides

Where to start

Most Canadians arrive here with one of four questions: Can I afford this?, How do I improve my credit?, How do I get out of debt?, or How do I make my money grow? The guides below cover all four. Pair them with our free calculators to put numbers behind every concept.

If you're new to credit or rebuilding

Canadian credit operates through Equifax and TransUnion. Scores range 300–900; anything 660+ unlocks prime rates, 720+ unlocks the best. Our credit guides walk through how scores are calculated, the difference between a hard and soft inquiry, and proven tactics to add 50–100 points within 6–12 months. Run scenarios with the Credit Score Simulator.

If you're shopping for a mortgage

Canadian mortgages are unlike anywhere else: amortizations stretch 25–30 years but the actual term resets every 1–10 years. The federal stress test qualifies you at the higher of your contract rate + 2% or 5.25%. CMHC default insurance is mandatory below 20% down. Our mortgage guides cover the full path: pre-approval, the pre-qualification tool, fixed vs. variable, open vs. closed, and how to renew without overpaying. Set up renewal alerts 6 months before your term ends.

If you're drowning in debt

High-interest debt — credit cards, payday loans, store cards — compounds against you faster than almost anything compounds for you. Our debt guides cover the snowball vs. avalanche debate, when consolidation actually saves money (and when it just resets the clock at a higher total cost), the difference between a consumer proposal and bankruptcy, and how to negotiate with collectors. Try the AI Debt Payoff Planner for a personalized strategy.

If you're saving and investing

The Canadian advantage is registered accounts. RRSPs reduce taxable income now and grow tax-deferred; TFSAs grow tax-free forever. Our guides explain contribution room, withdrawal rules, the Home Buyers' Plan, the Lifelong Learning Plan, and how to sequence RRSP vs. TFSA contributions based on your tax bracket. Project growth with the RRSP Calculator and TFSA Calculator.

Quick references

For fast lookups, browse our 65+ term Canadian finance glossary, hit the Quick Answers for 600-word focused answers to common questions, or check live rates on the Bank of Canada rates page.