1. Consolidate your debt and repay it faster
Paying down your debt is one of the smartest financial decisions you can make. If you have massive credit card debt or recently got it with a big expense — like car repairs, chances are you will be on the hook for quite some time and have to pay a substantial amount in interest.
A better option is to consolidate your debt by taking out a single loan at a lower rate. This can both ease your interest costs and improve your credit score. With Loans Canada, you can shop for the most competitive interest rates on personal and debt consolidation loans, since Loans Canada specializes in comparing rates offered by different lenders.
You don’t need a minimum credit score or annual income to receive personalized loan offers.
2. Earn big returns without investing in the shaky stock market
The last few years proved that the stock market can be uncomfortably volatile. As a result, many investors turn to alternative assets — like gold, real estate and fine art — to diversify their portfolio. Fine art, in particular, was traditionally an asset only available to ultra-high-net-worth investors.
Today, investing platforms like Masterworks have made it easy for everyday investors to start investing in art.
Over the past 25 years, contemporary art — works created after 1945 — saw an annual return of 14%, compared to the average of the S&P 500 of 9.5%, according to the Citi Global Art Market.
With Masterworks, you can enter this lucrative market and buy shares of iconic works of art by artists like Basquiat and Banksy without shelling out millions at an auction.
The art investing platform handles every step, from authentication and acquisition to storage and sale — with no art expertise or billionaire’s bank account needed.
Masterworks¹ has already distributed back more than US$60 million in total proceeds (including principal) to investors across their 23 exits. The platform recently posted a profitable return from selling a Basquiat painting for US$8 million in 2024.
Diversify your portfolio today with a piece of fine art.
3. Invest with confidence
Investing in the stock market can help you build a sizable nest egg for retirement and a passive dividend income stream. With CIBC Investors’ Edge, you can enjoy low commissions on trades and no or minimal account maintenance charges, depending on the size of your portfolio.
Pay no account fees for RRSPs with a balance of $25,000 or more and TFSAs with a balance of $10,000. For non-registered accounts, the platform waives maintenance fees if the account balance exceeds $10,000.
Build your portfolio with CIBC Investor’s Edge and get up to 100 free trades and over $200 in cash back. Pay just $6.95 per stock and ETF trades and no fees on mutual funds — or make more than 150 trades in a quarter — and you fall under the Active Trader category, where you can enjoy a discounted commission of $4.95 per trade.
CIBC Investor's Edge
Build your own investment portfolio and enjoy low commissions
4. Protect your furry friends with pet insurance
If you have a furry friend or are thinking about adopting one, you probably know about the soaring medical and grooming costs for pets. According to a recent study by rover.com, the average cost of owning a dog is somewhere between $80 and $340 per month.
Spot Pet Insurance provides up to 90% cash back on vet bills, as well as unlimited payouts on accidents and qualified illnesses.
You can also get up to $500 cash back on kennel and pet boarding costs and up to $1,000 on alternative therapies for your pet through Spot Pet Insurance.
5. Know where your money is going
The rising cost of living in recent years has been a major cause for concern for many Canadians. According to a 2024 survey by the National Payroll Institute and Financial Wellness Lab of Canada, approximately 41% of respondents feel financially stressed.
Budgeting and tracking can help you understand where your money is going, allowing you to identify areas where you’re overspending.
With Monarch Money, you can track all your accounts in one place. You can also get custom reminders regarding upcoming bills and subscriptions, ensuring you never miss a payment or forget to cancel an unwanted subscription before renewal. You can also view how your net worth is growing over time by linking your investment accounts and real estate.
Monarch Money helps you control your financial future. It lets you set financial goals, such as buying a house or taking a dream vacation, and then tracks your progress.
Sign up now and get 50% off your first year with code MONARCHVIP.
- The content is not intended to provide legal, tax, or investment advice.
No money is being solicited or will be accepted until the offering statement for a particular offering has been qualified by the SEC. Offers may be revoked at any time. Contacting Masterworks involves no commitment or obligation.
Amount ‘distributed back’ represents the total liquidation proceeds distributed back to investors, net of all fees, expenses and proceeds reinvested in Masterworks offerings, of all works Masterworks has exited to date.
This communication is sent exclusively from Masterworks and is not endorsed by or affiliated with Bank of America. Masterworks did not contribute to the creation of the referenced content. The report is not intended to be regarded as investment advice, an offer, or solicitation of an offer to enter into any Masterworks offering.
