News

Since the onset of the pandemic we have seen an extraordinary increase in liquid savings. As a society our spending and saving habits have changed significantly.  In Canada alone, the savings rate in the first half of 2020 increased to 28.2 per cent, up from 3.6 per cent before the pandemic. This behaviour points to our need to be “financially secure”. Ye...

The Common Good Plan has finally launched, offering not-for-profit employers across Canada the opportunity to provide an easy-to-use, low-cost retirement plan to their workers. The Steering Committee behind this initiative is calling on organizations to invest in their employees' financial wellness, at a time when they need it most. Check out The Philanthropist piece by...

Canada has many income benefit programs that many Canadians find difficult to navigate, however benefit application processes for people with disabilities are the most challenging of all.     In 2020, Prosper Canada embarked on a three-year Access to Benefits for Persons with Disabilities project in partnership with Disability Alliance B.C., the Social ...

Social distancing has “pushed” more people to use online banking, order multitudes of items from their computer and even scan, pay and bag their own groceries. Self-service is a widely accepted way of providing more services with fewer resources. Though there are some drawbacks, it has also proven that with the right tools, and just a little help, people can p...

We are excited to welcome PayPal as our most recent supporter. PayPal’s donation will support Prosper Canada's COVID-19 Relief and Recovery Plan to scale financial services that will help struggling Canadians to access emergency benefits, build a budget, and make a financial recovery plan.      “According to Statistics Canada in the past...

As we mark the end of one year living with the COVID-19 pandemic, many of us are taking stock of our experience and laying plans for the coming year, happily anticipating a transition back to life as we once knew it.    The pandemic has changed us though, in many ways – for better and for worse. Some things have changed irrevocably. We have lost people...

CBC News // Programs have helped more than 100,000 Ontarians tap into $391.3M in new income. Carla Macias barely spoke English when she landed in Toronto from Ecuador with her two sons 14 years ago. As a newcomer, she struggled to find out how she could go to school, earn a living and help support her children. She later came to Toronto's Jane Finch Community and F...

Investment Executive // Tax and financial planning experts are applauding a recent federal government proposal that would see the Canada Revenue Agency (CRA) automatically prepare tax returns for Canadian residents with simple tax situations. “Most of the information that people provide on a tax return the CRA already has,” said Jamie Golombek, managing director...

Cision // The Canada Revenue Agency recognizes the value of free tax clinics that help Canadians do their taxes so they can get the benefit and credits they are entitled to. We also know the costs of running these clinics can be a challenge for organizations who want to participate.   To support these organizations, the Honourable Diane Lebouthillier, Minister of ...

MortgageBrokerNews.ca // As much as half of Canada’s lower-earning households are spending around 31% of their incomes on debt repayments, according to a new survey by charity group Prosper Canada.   In its recently released report, Prosper Canada also said that the debt-repayment ratio among moderate-income households is at an average of 18%, although it wa...