[Front Cover of How To Pay Less and Keep More for Yourself]

You might be reminded of the “hands in my pocket” commercial (or Rick Mercer’s “knee in my package” skit, as one commenter recently pointed out) when you think about our chartered banks. The banks tend to have a finger in every financial pie and some of their massive profits come directly out of the pockets of ordinary Canadians. Fortunately, financial products are one area in which you can easily and painlessly save money.

Rob Carrick, who writes a popular personal finance column for The Globe and Mail, has written this invaluable guide (aff) to help consumers save hundreds and even thousands of dollars on various financial products and services. Subtitled “The Essential Consumer Guide to Canadian Banking and Investing”, the guide shows how consumers (even those who are suspicious or uncomfortable with the internet) can save money on savings and chequing accounts, credit cards and loans, mortgages, mutual funds and investments. While I was already familiar with (and use) most of the methods suggested in the book, I would definitely recommend the book to people who are just starting out and to those who are trying to become smarter with their finances.

This article has 4 comments

  1. Hey there fellow Canucks. I need some advice. My Fiancee and I will be applying for a mortgage this month. I’m 27. She’s 26. I’ve been reading a lot of personal finance books lately; trying to understand how to position ourselves for a comfortable future. Does anyone out there have any advice for a young couple shopping for a mortgage? Cheers! Gotta go cry now. The Leafs are getting the beat down from the Penguins.

  2. Canadian Capitalist

    You should determine if you’ll be comfortable with a variable rate mortgage. Research shows that it will save you money 88% of the time. Also, shop around to get the lowest mortgage rate possible with all the features you want (like pre-payment options).

  3. Thanks for the tip CC. Just consulted a mortgage broker… On the case!

  4. Pingback: Book Review: Rob Carrick’s Guide to What’s Good, Bad and Downright Awful in Canadian Investments Today | Canadian Capitalist