The best way to secure your financial future is through investing. However, achieving your investment goals can turn into a nightmare without the right tools and resources. The good news is, there are websites with resources that can help you build wealth.
If you are a Canadian investor, you have to understand the intricacies of different types of investments. Also, you must know the basics of personal finance because it all starts there. By staying informed, you’ll find it easy to achieve your financial freed.
In this guide, we explore the websites that can help Canadian investors make informed decisions regarding their investments. So, keep reading to learn more.
Essential Websites for Canadian Investors
So, which websites can help you learn more about personal finance? We understand Canadian investors’ needs, and that’s why we’ve come up with a comprehensive list of websites to help you manage your finances. Consider the following sites!
If you want to keep up with the Canadian financial sector trends, you need to visit moneysense.ca frequently. This website is tailored to meet the needs of Canadian investors. It provides up-to-date information on various finance topics.
Money Sense crowdsources its content and groups them into five different categories: learn, earn, save, spend, and invest. You can also access useful financial tools such as mortgage calculators and “best reward credit card finder.”
Incredibly, the website features the “Ask MoneySense” page, which allows Canadian investors to ask finance-related questions. Thankfully, the website’s experts will answer questions in many fields, such as insurance, real estate, and investments.
KnightsbridgeFX is an indispensable tool for any Canadian investor planning to extend its operations across the borders. To invest in foreign countries, you will always need currency exchange services to keep your business running.
Thankfully, KnightsbridgeFX provides consistent bank-beating rates to help Canadian investors save hundreds or even thousands of dollars from their currency exchange. Besides, the website offers daily updates on CAD dollars against other currencies.
What makes KnightsbridgeFX more useful is that it has an online currency calculator for the U.S. to Canadian dollars. The currency exchange calculator also offers interbank rates for Canadian dollars against other currencies, such as euros and British pounds.
If you are looking for a website that provides daily reports on Canada’s investment opportunities, Canadian Investor will be the best bet. It focuses on the operations of publicly-traded stocks in the Canadian market, featuring Canada’s best investments.
One good thing about Canadian Investor is that it provides financial news on stocks traded in the country. It categorizes stocks into different groups, including technology, mining, cannabis, real estate, energy, and stocks-to-watch section.
Canadian Investor boasts an incredible tool known as Stock Screener. The screener provides stock data of over 1,400 companies. Some of the sections you’ll find here are historical price performance, fundamental data, and technical analysis.
Get Smarter About Money
If you want to know your financial status but don’t know where to start, consider visiting Get Smarter About Money. This website has financial tools to help assess your financial situation and make informed decisions regarding your finances.
Some of the categories you’ll find on the website’s homepage include:
- Investing Basics
- Planning Your Future
- COVID-19 and Your Money
What makes the website stand out is that it provides calculators for various financial aspects. You can calculate your compound interests, spending habits, emergency fund, retirement cash flow, education cost, net worth, RESP savings, and mortgage payment.
The Motley Fool
The Motley Fool is an excellent resource for accessing company-specific information. It helps you find information about a company before making investment decisions. Some of the details you’ll find on this website include financial statements and dividend yields.
Note that The Motley Fool provides every information you’ll need to know about stocks. It categorizes stocks into different groups, like bank stocks, cannabis stocks, energy stocks, and dividend stocks. Also, you’ll be getting stock news and commentaries.
The Motley Fool also has a special page known as the “Latest Stock Picks” with stock recommendations that guarantee huge returns. However, you must pay $99 to access the recommended stocks.
Canadian Couch Potato
Canadian investors looking forward to investing in indexed mutual funds and exchange-traded funds (ETFs) can find Canadian Couch Potato more helpful. It’s the best website for index investing, also known as passive investing.
Canadian Couch Potato provides useful information on how Canadian investors can maximize profits through ETFs. As an investor, you’ll get educated on how to select the best bank for your investments. Besides, you can access model portfolios on the site.
The website’s primary objective is to help you avoid overpriced and actively managed mutual funds that tried to beat the market but failed.
Now that you know the best websites for Canadian investors, consider visiting each of them frequently to keep yourself informed. You’ll find it easy to manage your finances, save more money, and invest to achieve your financial freedom. Thankfully, there are many investment options in Canada, including stocks, mutual funds, and ETFs.