Resources

It is important to stay educated about financial planning in the age of e-finance. Below, we have compiled a list of tools to help you: build a budget, compare credit, manage your savings plan, and evaluate investing opportunities.

If you are using a financial tool that is not listed below, please email us. We are always interested in exploring new financial tools and applications!

Budgeting is an integral tool in financial planning. Budgeting can help you accurately review expenses and income, and provide clear actionable financial goals.

Mac’s Money Centre – Budgeting SpreadSheet
Begin by estimating all of your income and expenses you think you will need over the school year. Once you have entered your education, living expenses, and income, the spreadsheet will generate your bottom line. Are you running a surplus or deficit on your budget?

Budgets are ever-changing. Review and update your final budget to find out if you are on track.

Financial Consumer Agency of Canada – Financial Goal Calculator

The Financial Goal Calculator is designed to help you manage your debt and savings goals. This tool is for reference only. Learn about the assumptions made by this tool as well as its limitations.

 

Financial Goal Calculator

You Need A Budget – Gain Control of Your Finances

Give every dollar a job and be intentional about what you want your money to do before you spend it. Take only the money you have on hand and ask yourself, “What should this money do before I’m paid again?” With just four simple steps, you’ll begin to take back control.

 

The internet is filled with online calculators and money management tools. Below, you will find a link to some of Canada’s most trusted and reputable sources.

Chartered Professional Accountants – Financial Literacy Resources

Find helpful tools and resources from the government and other sources.

 

Chartered Professional Accountants – Money Management Worksheets

Our worksheets will help you with various aspects of managing your money.

 

Chartered Professional Accountants – Small and Medium Businesses

Get useful tips and resources to help you better manage your business’s finances.

 

The Globe and Mail – Online Tools

Use our online interactive tools to help you make decisions today that impact tomorrow. We provide you with a range of tools to help manage your investments, calculate your down payment and plan for retirement.

 

Mint.com

This resource brings together everything from balances and bills to your credit score and more. It’s your financial life, in one place that’s easy to understand.

 

Ontario Securities Commission – Get Smarter About Your Money

Get Smarter About Your Money is an Ontario Securities Commission (OSC) website that provides unbiased and independent financial tools to help you make better financial decisions.

 

Rate Hub

This resource can help you find better financial products and rates based on your specific needs. Whether you’re searching for a mortgage, credit card, savings account, or insurance coverage, we help you get the information you need to pick the right financial products.

 

Building a good credit score means that you are a responsible borrower. The higher your credit score, the higher likelihood the banks would give you a better interest rate on loans.

Canadian Bankers Association – Your Credit Profile

Your credit profile is your financial reputation. Each time you borrow, you build a credit history. When you apply for credit, lenders consider your financial track record, along with information about your employment and other debts and assets you have.

 

Government of Canada – Credit Card Comparison Tool

Compare features for different credit cards, including interest rates, annual fees and rewards. Find the credit card that best suits your needs. Narrow your search, view credit card options, and compare your results below.

 

University is a time where students often take on debt to secure funding for their education. Learn the best practices and tips for debt repayment and how to budget before getting penalized by interest rates.

Canadian Bankers Association – Borrowing

At some point, you’ll probably need to borrow money to make significant purchases or pursue personal goals. Buying your first car or starting your own business will likely require getting a loan from a financial institution or another lender.

 

Credit Canada – Debt Calculator

Input the balance and interest rates for all your debts (credit cards, loans, lines of credit, etc.) in the form below. Then select “Calculate Your Savings” to find out how long it will take you to pay them off using different payment strategies, and discover just how much you could be saving in interest by using Credit Canada’s debt consolidation solutions!

 

Government of Canada – Loan Repayment Estimator

The Loan Repayment Estimator can help you estimate the monthly payments you will need to make to repay your Canada Student Loan or other government student loans. All you need to do is type in the settings for your loan.

There are many financial blogs aimed towards empowering students and recent graduates. Get tips, advice, and resources on the go!

Ambitious Adulting

Liz Enriquez is a McMaster alumni who helps Canadian Millennials understand personal finances so they can save more and reduce their financial stressors. Do you think saving is too complicated? Investing is too confusing? Perplexed on where to start? Ambitious Adulting is an independence guide for 20-something-year-olds, chalked full of tips, advice, and resources for the responsible adult.

 

Financial Avenue – #KNOWL

Financial Avenue is home of the Knowl. He’s an owl with a wealth of money knowledge. Next to eating field mice, there’s nothing the Knowl likes better than helping students – and anybody really – get smarter about money.

 

Give Me Back My Five Bucks

This is a personal finance (PF) blog related to everyday finances. Other topics include: budgeting, investing, saving, real estate, being frugal, and smart shopping. This blogger also dabbles in the subjects of fitness, travel, and personal well-being.

 

The Globe and Mail – Gen Y Money

Gen Y Money is a judgement free zone for millennials and Gen Z to talk to finance professionals and their peers about their investing, saving, and the future of housing markets. Join this free blog from The Globe and Mail or find them on Facebook for a more immersive experience.

 

Young and Thrifty

Young and Thrify are millennial money experts, entrepreneurs, investors, and beer drinkers. They believe that Earn. Save. LIVE. is more than just three random philosophical words that could be tattooed on an unimaginative person’s wrist. They represent millennial views towards money and why we should all embrace financial awareness.

 

Have you ever wanted to invest but don’t know where to start? Is compound interest completely confusing? Check out these free resources to find out how to make the most on your investments.

Ontario Securities Commission – Compound Interest Calculator

Not sure about investing? Find out how your investment will grow over time with compound interest.

 

Ontario Securities Commission – Introduction to Investing

Whether you are new to investing or new to Canada, investing for your future is important. And no matter how much (or little) money you have to invest, having the right information and resources can help you make better decisions for you and your family.

 

The Globe and Mail – TFSA Calculator

Introduced in 2009, tax-free savings accounts have become an essential wealth-building tool for all Canadians. The Global and Mail created this calculator to demonstrate the importance of making the maximum contribution to your TFSA every year if you’re able to.

 

The Globe and Mail – Watchlist

Create a list of your investments. Compare stocks, exchange traded funds, and more.

 

Taxes can be confusing but they should never be intimidating. Check out these online resources to help maximize your returns.

Canada Revenue Agency –  Canadian income tax rates for individuals

The Canada Revenue Agency (CRA), provides income tax rates for individuals, as well as answers to frequently asked tax questions.

 

Canada Revenue Agency – My Account For Individuals

My Account allows you to track your refund, view or change your return, check your benefit and credit payments, view your RRSP limit, set up direct deposit, receive online mail, and so much more.

 

Canada Revenue Agency – Office of the Taxpayers’ Ombudsman

The Office of the Taxpayers’ Ombudsman (OTO) works to enhance the Canada Revenue Agency’s (CRA) accountability in its service to, and treatment of, taxpayers through independent and objective reviews of service-related complaints and systemic issues.

 

Canada Revenue Agency – Taxpayer Bill of Rights

Learn more about your rights and what you can expect when you deal with the Canada Revenue Agency (CRA).

 

Register on OSCARplus

Mac’s Money Centre is invested in your financial wellness. Register on OSCARplus to meet with our Money Coach for tax related events, workshops, and tax clinics.

 

Financial concerns are one of the leading stressors for students. At Mac’s Money Centre, we are invested in your financial wellness. Financial literacy is a tool to assist students in providing a holistic approach to wellness.

Charted Professional Accountants Canada – Financial Wellness Guide

Money: it matters for your peace of mind today and it matters for your security tomorrow. Understanding money’s basic language may seem complicated; but, it doesn’t have to be intimidating.

 

MagnusCards – Accessibility at CIBC

MagnusCards is a free app that helps people with cognitive special requirements thrive and gain independence. Anyone who benefits from structured, step-by-step guidance can use MagnusCards. The app is particularly useful for those with autism, ADHD, Asperger syndrome, acquired brain injury, Down syndrome, intellectual disabilities, dementia and other cognitive needs.

 

The Student Wellness Centre

The Student Wellness Centre is the place on-campus to address your wellness needs. They provide a range of counselling options, medical services and wellness programs so that you can get the most out of your McMaster experience, academically and personally!

 

Did you know that Lynda offers free open online learning courses for McMaster students?

Lynda.com

About Lynda

Active McMaster students, faculty and staff now have free, unlimited access to over 5,000 video tutorials related to business, media and technology through Lynda.com, a self-service training site.

Lynda.com is a leading online learning platform that helps anyone learn business, software, technology and creative skills to achieve personal and professional goals. Through individual, corporate, academic and government subscriptions, members have access to the Lynda.com video library of engaging, top-quality courses taught by recognized industry experts.

Scroll through the tabs to find useful financial tutorials!