This trend comes on the heels of a steady recovery in international travel since the easing of pandemic restrictions, but Canadian trips have yet to fully rebound. Trade tensions between Canada and our southern neighbour have certainly contributed to hesitancy of Canadians to taking a trip across the border.

Tariffs take hold

It has been a stressful time for our two nations, as hefty tariffs hit consumers in the wake of the President Donald Trump returning to the White House. Canadians have taken notice, and have taken action. The Elbows Up and Buy Canadian movements have inspired the nation’s citizens to choose alternative countries to visit and from which to purchase. And the movement is only beginning and is picking up momentum.

Barbara Barrett, executive director of the Frontier Duty Free Association, described the sharp drop in cross-border travel as "catastrophic," telling CBC News that sales at duty-free shops along the Canadian border have plummeted by about 80% compared to pre-pandemic levels. She said the industry has never fully recovered since COVID-19, and recent disruptions have made matters worse.

"Without exaggeration, it’s a crisis,” Barrett stated, adding that the situation feels "pandemic-level" as border traffic remains significantly lower than before.

Reddit weighs in

Canadians and Americans alike have taken to social media to voice their thoughts on both the tariffs as well as the impact of the Buy Canadian movement. While some feel it’s a waste of time, just a statement and performative, others agree the collective voice and action of Canadians will send a loud and expensive message across the border.

Reddit user shpydar is solidly in the latter camp, and offers some stats to prove it.

"Now let’s put this in perspective on how this part of our resistance to US tariffs and threat to annexation will be devastating for the US economy," he said on Reddit.

"Canadians are not only the single largest group of international travelers to the US making a whopping 31% of all international travelers to the US in 2023, we also spend the most money on tourism in the US accounting for 24.1% of all tourism dollars earned in the US in 2023.

If the US continues to apply tariffs and threaten our sovereignty, a lot of US citizens will lose their jobs, especially if this continues into summer.

Elbows up! It’s working."

Redditor peeinian agrees. "It’s also not worth shopping there. The prices are the same, if not more than in Canada, then add 40% exchange, 25% tariff and 6% GST and you’re paying almost double," he said.

"CBSA has been pulling almost everyone in that is over their exemption limit to pay tariffs and duty since the trade war started. For years they wouldn’t bother if you kept it under $100/person for a day trip."

Though sentiment is largely positive about the news of the decline, where there was disappoinment in the numbers, it wasn’t because people thought it was a waste of time. In fact, where there was disappointment, it was the opposite.

"That number should be much higher. It’s only a 13% decline from a year ago," according to HelloKleo.

What’s next for Canada and the US?

Canada and the US are more than just neighbours — they’re each other’s biggest economic lifelines. In 2022 alone, they traded nearly a trillion dollars in goods and services, and Canada remains the top customer for most US states. But that relationship is hitting some serious turbulence.

Earlier this year, President Donald Trump slapped new tariffs on Canadian imports, citing border security concerns. Canada fired back with its own countermeasures, setting the stage for a fresh trade war. Experts warn this could send shockwaves through both economies, pushing up prices, slowing growth and disrupting industries that rely on smooth cross-border trade.

The US economy is already expected to grow slower than originally predicted, with inflation likely to rise. Canada, heavily dependent on US trade, won’t escape the impact either. Businesses on both sides of the border are bracing for a rough ride, with some American firms already feeling the pinch.

As tensions escalate, the big question is whether cooler heads will prevail — or if this economic standoff will only get worse.

Sources

1. US Customs and Border Protection: Traveler and Conveyance Statistics

2. CBC News: Cross-border trips to the U.S. reach COVID lows with nearly 500,000 fewer travellers in February (March 18, 2025)

3. Reddit: r/ontario — Cross-border trips to the U.S. reach COVID lows with nearly 500,000 fewer travellers in February

4. Statistics Canada: Canada and the United States: The numbers on a unique relationship (March 21, 2023)

This article Canadian cross-border travel hits pandemic lows as costs and concerns riseoriginally appeared on Money.ca

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Trade tensions influence policy

Toronto Mayor Olivia Chow announced the exclusion of Tesla vehicles from the incentive program during a news conference on March 17, 2025. Chow indicated that the decision is a direct response to US President Donald Trump’s recent tariffs on Canadian products and his controversial remarks regarding Canada’s sovereignty and his desire to annex Canada and make it the 51st state.

Chow emphasized that while individuals can still purchase Teslas, taxpayer money will not subsidize these purchases amid current trade issues.

Tesla’s challenges in 2025 under Trump’s second term

Tesla has faced a turbulent year since Donald Trump began his second term as US president in January 2025. One of the most controversial aspects of the new administration has been Elon Musk’s advisory role in shaping US technology and infrastructure policies. While Musk has long been an advocate for innovation, his alignment with Trump’s administration has drawn backlash from both Tesla customers and investors.

Public sentiment toward Tesla has shifted as Musk’s involvement in politics has grown. Many long-time Tesla supporters, who initially saw the brand as a champion of clean energy and sustainability, have expressed frustration over Musk’s increasing political engagement. His vocal support of deregulation policies and push for fewer government restrictions on business operations have led to concerns that Tesla is moving away from its original mission.

At the same time, Tesla’s financial performance has been under pressure. The company’s stock has lost nearly half its value over the past three months, reflecting growing investor unease.

This decline has had a direct impact on Musk’s wealth; his net worth fell below $400 billion for the first time in two months, dropping from an all-time high of $486.4 billion in December 2024, "dragged down by a double-digit slide in Tesla Inc.’s share price," Bloomberg reported.

Consumer hesitation has been evident, particularly in liberal-leaning US states and cities that were once strongholds for Tesla. In response, competitors such as Rivian, Lucid Motors and traditional automakers with expanding EV lineups have gained market share.

The Canadian market, which has historically been receptive to Tesla vehicles, is now also experiencing a shift as political tensions influence buying decisions.

Toronto’s decision to exclude Tesla from its EV incentives highlights the growing divide between Musk’s political associations and the policies of cities and countries focused on sustainability. As the EV industry continues to expand, Tesla’s ability to maintain its dominance may depend on how it navigates these political and public relations challenges.

Impact on EV market and future outlook

While the financial impact of this exclusion is expected to be minimal, the symbolic gesture underscores the city’s stance on international trade relations affecting local policies. Drivers and fleet operators are now encouraged to consider alternative EV options for their services.

The long-term effects on Tesla’s market share in Toronto’s EV sector remain to be seen, especially if trade tensions persist.

Sources

1. Wall Street Journal: Tesla’s Stock Still Isn’t Cheap (March 13, 2025)

2. Bloomberg: >Musk’s Net Worth Falls Below $400 Billion For First Time in 2025 (February 10, 2025)

This article Toronto halts Tesla EV incentives amid US trade tensions originally appeared on Money.ca

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

The report, titled ‘Scaling Up the Non-Market Housing in Canada,’ was submitted to the Minister of Housing, Infrastructure and Communities earlier this month.

“Doing more of what we have been doing for 25 years will not respond to the need. Rather, a well-planned effort that invests in the supply and maintenance of non-market housing will have a ripple effect in the entire housing sector producing a corresponding return that will impact the broader Canadian economy,” Sam Watts, Chair of the Working Group on Scaling-Up Non-Market Housing in Canada, said in a statement.

“After all, when people have a permanent place to call home they are typically both healthy and productive."

Where do we stand in relation to other countries?

The report calls for Canada to at least double its stock of non-market housing, from 3.5% of the housing system to 7% — the average level found in other high-income countries in the Organisation for Economic Co-operation and Development (OECD).

According to the report, an increase of this size would provide 576,625 more Canadian households with a secure and affordable home.

At 3.5%, Canada’s non-market housing sector makes up a smaller proportion of the housing system than it did in the 1990s (6%). Additionally, Canada’s non-market sector is far smaller than in other countries such as the UK (16%), France (17%), Denmark (20%) and Austria (23%).

And if we do nothing?

The report also cites an analysis from Deloitte for the Canadian Housing and Renewal Association and Housing Partnership Canada found that scaling-up the non-market housing sector to the size found in similar high-income countries would boost productivity by 5.7% to 9.3%, adding between $67 billion to $136 billion to Canada’s GDP.

However, if there are no increases to the country’s non-market housing stock, the results could be even costlier. The report cites another study in four Canadian cities that found that the costs of supporting an unhoused person in affordable housing was $5,000 to $8,000, compared to $13,000 to $42,000 in emergency shelters or $66,000 to $120,000 in institutional settings.

“The starting point for these recommendations is the need to shift perceptions of non-market housing from a ‘nice to have’ item of public spending, to one that is seen as essential infrastructure, without which our communities cannot function,” the report reads.

“Debate on transportation or sanitation focuses on ‘how’ and not ‘if.’ The conversation on delivering housing people can afford should unfold in the same way.”

This article New report calls for Canada to double its non-market housingoriginally appeared on Money.ca

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Some wealth managers prefer clients who have six (or seven!) figures to invest. But guess what? Times have changed and technology has opened the door to DIY investing. You can easily start investing without a sizeable sum or a financial advisor who charges big bucks. For the sake of this article, I’m going to explain the best ways to invest with as little as $1,000.

1. Invest in stocks

You don’t need to be a wealthy Wall Street player like Gordon Gecko to invest in the stock market. Thanks to advances in fintech, you can buy and sell stocks with very little money using your computer or mobile device. If you DIY invest with one of the best online brokerages, you’ll pay next to nothing in commission fees.

One option is to open an account with Wealthsimple Trade– the only discount brokerage in Canada that offers zero-commission trades. Using this platform, whether on mobile or on your desktop, you can buy and sell thousands of stocks and ETFs on major Canadian and U.S. exchanges without paying a dime in commission fees.

Once you’ve funded the account, it’s off to the races. You can start trading with as little as $1. With just a few taps on your phone, you can search for and add assets to your “Watchlist” – a tool that allows you to “save” a particular asset to monitor its activity without purchasing it (similar to adding online purchases to a virtual shopping cart).

Another low-cost option is Questrade – a DIY trading platform that offers commission-free ETF purchases and the lowest trading fees in the market. To buy stocks it only costs $0.01 per share, with a minimum of $4.95 and up to a maximum cap of $9.95 per trade. You can use your mobile device or desktop computer to open a self-directed investing account with Questrade.

After you’ve chosen which account type you want, select “Funding” and follow the steps to put money into the account. You’ll need a minimum of $1,000 in your account to start investing. Once the funds hit the account, you can start trading right away. If at any point you want to increase your available trading funds, you can use Questrade’s Instant Deposit feature, which allows Visa Debit cardholders to quickly transfer up to $3,500 into a Questrade account.

Not sure what to buy? Investing in exchange-traded funds (ETFs) is a good way to build a low-cost, diversified portfolio while saving on the hefty fees charged by many Canadian mutual funds.

For expert top picks, take a look at the best ETFs Canadian loonies can buy.

2. Let a robo-advisor find you the perfect low-fee ETFs

Robo-advisors are great if DIY investing seems too complicated for you.

No, you’re not hiring the Terminator as a wealth manager. Rather, a robo advisor is a digital investment service that can create and manage a personalized portfolio of low-cost ETFs for you. Then, using computer algorithms, the robo-advisor will recommend a custom portfolio that’s tailored to you.

With a reputable robo-advisor like Wealthsimple, it takes just 15 minutes to open an account. It starts by answering an online questionnaire about your financial goals and risk tolerance.

After your account is set up, link your external bank account and transfer funds into the account. There’s no minimum investment required with Wealthsimple, meaning that you can start investing with as little as $1. Once the account is funded, Wealthsimple takes care of the rest – including the work of creating and rebalancing your investment portfolio.

3. Guaranteed income certificate (GIC) could be the ticket

If you can’t risk riding the stock market, a Guaranteed Income Certificate (GIC) is the perfect place to park $1,000. A GIC is considered one of the safest investments you can make, as it offers a guaranteed interest rate on your savings.

Your funds are typically locked-in for a term (e.g. between 30 days to 5 years), and as long as you don’t withdraw early, you’re guaranteed to grow your savings risk-free with a higher-than-average interest rate (usually 1.50% and up). Your GIC can also be held in both registered (e.g. TFSA or RRSP) and non-registered accounts.

Since GIC interest rates fluctuate constantly, shop around for the best GIC rates out there.

Your $1,000 is invested – now just sit back and wait for the GIC to mature. Once the term is up, you can reinvest it or put the funds back into your savings account.

4. Cryptocurrency is not so cryptic

If you’re adventurous, you could put $1,000 toward trading cryptocurrency – a digital asset class built on blockchain technology. Crypto trading carries a relatively low cost for entry, and above all, it can be very lucrative. For example, the value of one Bitcoin has skyrocketed from less than a cent in early 2010 to CAD$120,010.96 today.

However, before pulling the trigger, know that there’s considerable risk to trading cryptocurrency. For starters, it’s largely unregulated, which can invite sketchy behaviour on some trading platforms. And cybercriminals are constantly looking for ways to crack into your computer or mobile device and steal your coins, amounting to billions of dollars worth of crypto looted every year

It’s also a highly speculative investment prone to bubbling and bursting. For instance, in 2018, the price of one Bitcoin fell from nearly USD$20,000 to around USD$4,000. Yikes!

There are a number of different cryptocurrencies out there, and it’s difficult to predict which will appreciate in value and at what time. If you want to avoid a a financial rollercoaster ride, keep one of our key cryptocurrency investing tips in mind: Start by investing a small amount of money into crypto rather than your entire life savings, and diversify the rest of your funds in a variety of other investment channels listed elsewhere on this page.

Whatever amount you ultimately choose to invest in crpyto, you can reduce your risk by buying and selling Bitcoin and Ethereum (the two largest cryptocurrencies) on Wealthsimple Crypto – Canada’s first regulated crypto trading platform in Canada. Unlike other crypto platforms, Wealthsimple Crypto doesn’t allow for “bring your own crypto” and stores crypto-assets in “cold wallets” at Gemini Trust Company – a trusted and regulated custodian that has $200M in cold storage insurance coverage. It’s one of the easiest and safest ways to trade cryptocurrency, and there are also no fees for trading within Wealthsimple Crypto.

5. Invest in your peers

How about using your $1,000 to help small businesses grow? Since big banks can be uber-conservative with their lending criteria, peer-to-peer lending platforms are popping up to allow everyday Canadians to invest in small businesses.

One of the leading disruptors is Lending Loop – Canada’s first fully regulated peer-to-peer lending platform focused on small businesses. There are two options for investing with Lending Loop.

The first is to use the “Auto Lend” feature. In less than 5 minutes, Lending Loop can build a customized plan to put your money to work, helping you earn a projected return of 5-8% per year on your investment. It works like a robo advisor: open an account and answer an online questionnaire about your risk tolerance, assets and financial goals. Then, Lending Loop will make a recommendation on what plan best matches your goals.

Or you can choose to manually invest. Once you’ve linked your bank account and funded your account, you can scroll the loan listings and decide where to invest. Lending Loop reviews each business and assigns it a “loan grade” (between A+ to E), making it easier to choose.

Either way, you will receive monthly payments with interest from the businesses that borrowed from you. It’s a win-win: you’re supporting small businesses while diversifying your investment portfolio and earning a fixed-income.

6. Stash your cash in a high-interest savings account

Need to keep your cash close and don’t want to wager any risk? Squirrel away your money in a high-interest savings account – a bank account that typically offers a higher interest rate than a regular chequing or savings account. You’re basically loaning money to the bank, and in return, you get a better-than-average interest rate on your deposits. Unlike a GIC, your money isn’t locked in and you can access it anytime (depending on the bank, it could take 24 hours or longer to cash it out).

7. Invest in real estate with a REIT ETF

$1,000 won’t go far in terms of buying property, but there are other ways to invest in real estate. Specifically, you could pool your money into a Real Estate Investment Trust (REIT) – companies that own and sell shares in income-generating real estate. The REIT generates rental income and distributes the profit after expenses to unit (or share) holders.

With this type of investment vehicle, you can invest in all kinds of real estate properties: from office buildings to malls to residential apartment buildings. While you’d likely need a hefty down payment to buy an income property, you typically only need less than $100 to invest in (and reap the benefits of) a REIT. Another bonus: skip the headaches of being a landlord.

There are many different types of REITs, but a solid bet is to invest in a REIT exchange-traded fund – a basket of REITs traded on the stock exchange. First of all, it’s a fast and cheap way to create a balanced, diversified investment portfolio with real estate holdings. It also saves you the work of researching and putting together a portfolio of REITs on your own. Lastly, a REIT ETF helps buffer the volatility of the stock market through diversification. You’re putting your chips down on the larger real estate market rather than on one company.

Getting started with REIT ETFs is easy. All you have to do is purchase trust units (shares) in a REIT ETF the same way you would purchase stock: through an online brokerage. Three top REIT ETFs in Canada to consider include the:

• iShares S&P/TSX Capped REIT Index Fund
• BMO Equal Weight REITs Index ETF
• Vanguard FTSE Canadian Capped REIT Index ETF

Tips for investing with little money

• Diversify, diversify, diversify: Don’t put all your eggs into one basket. Even with just $1,000, your best defense against volatility is to spread out your investments as much as possible.
• Know your risk tolerance: Taking an aggressive (but balanced) investment strategy may make good financial sense. But if you’re on the verge of retirement, low-risk investments may be a better bet. Revisit your risk tolerance for an annual “tune-up” and ensure it matches your current reality.
• Take calculated risks: Designate no more than 5% of your portfolio towards speculative (aka riskier) investments, such as cryptocurrency or IPOs. That way, you’ve built in a buffer in case something tanks.
• Do your homework: Before taking the leap, read up on winning investing strategies: from value investing to building a diversified portfolio of low-cost index funds, as well as avoiding a growth stock trap.

Final thoughts

You may not have a million bucks to invest, but that doesn’t mean it’s game over. The road to riches starts with building a balanced, diversified portfolio and $1,000 is enough to kickstart that journey. Once you get going, consider setting up an automated deposit or using a personal finance app to turbocharge your contributions. Good luck!

FAQ

How much do I really need to start investing?

Not a lot. For some of the above investment opportunities, you can get started with as little as $1 (although that probably won’t go very far). If you can swing it, $1,000 is a good start.

What is the best option for beginners?

If you have no experience with investing, start with a robo advisor. It will not only design a personalized portfolio to match your financial goals and risk tolerance, but it will do the work of managing it using computer algorithms. The fees are also very low: Wealthsimple, for example, charges just 0.40% to 0.50%.

What’s a safe investment option?

A GIC is a good place to start. Considered one of the safest investments in Canada, all you have to do is open an account, choose a term, and deposit the funds.

This article 7 ways to invest with little money and get big returnsoriginally appeared on Money.ca

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

With globalization and corporate acquisitions, the origin of a product isn’t always obvious, even if the brand has strong Canadian ties (or even has Canada in the name!). Some companies have maintained local production, while others have moved manufacturing abroad for economic reasons. Meanwhile, certain foreign brands have set up shop in Canada, producing goods you might not expect to be made within our borders.

With recent trade tensions and tariffs igniting the Buy Canadian movement, many consumers are paying closer attention to where their products come from. If you’re looking to support Canadian-made goods or just want to know which brands are truly local, here are some surprising facts about what’s actually produced on Canadian soil — and what isn’t.

Ben & Jerry’s ice cream: A sweet surprise from Ontario

Ben & Jerry’s, the beloved ice cream brand known for its chunky, creative flavours, is owned by global consumer goods giant Unilever. What many Canadians don’t realize is that the ice cream sold here is produced in Simcoe, ON. That’s right — those pints of Half Baked and Cherry Garcia come from a small Ontario town, not Vermont, where the company was founded.

Chapman’s ice cream: Proudly Canadian

If you want to support a born and bred Canadian ice cream brand, look no further than Chapman’s. This family-owned company, based in Markdale, ON, is one of Canada’s largest independent ice cream manufacturers. They produce everything from classic vanilla to nut-free and lactose-free options, all made in Canada.

Kraft salad dressing? Made in Canada. PC salad dressing? Not so much

If you’ve reached for a bottle of Kraft salad dressing, you may be surprised to know that it’s made right here in Canada. However, if you opt for President’s Choice (PC) salad dressing, thinking you’re buying a Canadian-made house brand, you’re actually buying a product made in the United States.

While PC is a brand owned by Canada’s Loblaw Companies Ltd., its salad dressings are manufactured south of the border.

Kellogg’s cereal: Mostly made in the US

While Kellogg’s has a long history in Canada, the majority of its cereals are now made in the United States. The company closed its London, ON, plant in 2014, shifting production of popular cereals such as Corn Flakes and Frosted Flakes to facilities in the US. If you’re buying a box of Kellogg’s cereal, chances are it was made outside of Canada.

Canadian Club whisky: Still made in Canada

Whisky lovers can take pride in the fact that Canadian Club, one of the country’s most iconic spirits, is still made in Windsor, ON.

The brand has been around since 1858 and remains a staple in the whisky industry, proving that some classic Canadian products are still made close to home. We realize that the fact it says ‘Canadian’ in the name is a give away that maybe, it’s still made here, but in today’s climate, you can never be too sure.

Canada Dry ginger ale: Or should we call it, America Dry?

Case and point, we regret to inform you that though the name implies otherwise, Canada Dry, originally founded in Canada in 1904, is no longer a Canadian-owned company, and is instead owned by American beverage conglomerate Keurig Dr Pepper.

While Canada Dry is produced and distributed in multiple countries, including Canada, owernship of the brand has been in American hands since the early 1980s.

Roots: A Canadian brand with American ties

Roots, the iconic clothing and lifestyle brand known for its cozy sweats and leather goods, was founded in Canada in 1973. While it still has strong Canadian roots (pun intended), many of its products are now manufactured outside the country, including in Asia, and has been owned by Searchlight Capital Partners LP, an American investment firm, since 2015. Despite its branding as a symbol of Canadian culture, much of what you see in Roots stores today isn’t actually made in Canada.

Do your due diligence to do your part

While a brand’s identity may be rooted in Canada (or not!), its manufacturing and ownership can tell a different story. As consumers, taking a closer look at labels and researching where our favourite products come from empowers us to make informed decisions.

Whether it’s enjoying a scoop of ice cream, cozying up with a highball in your comfy sweats, or just being aware of where the things we buy are really made, every purchase we make is an opportunity to invest in the economy, and ultimately the country we want to sustain.

This article Think you need to ditch Ben & Jerry’s to ‘Buy Canadian?’ The home of some of your favourite brands may surprise youoriginally appeared on Money.ca

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

After they showed him some animal videos, he kept scrolling and watching more posts. Before long, the financial psychologist — who helps patients deal with money-related stress — stumbled across one user promoting day trading.

“I was sort of blown away because I thought that day trading died in the tech bubble when everybody lost all their money,” says Klontz.

“But there’s an entire new generation of people who think they can beat the market. And then I got concerned, because I know how this ends.”

So Klontz — the managing principal at Your Mental Wealth Advisors and an associate professor at Nebraska’s Creighton University Heider College of Business — joined TikTok. The “@drbradklontz” account seeks to dispel all those get-rich-quick myths being spread by thousands of posts on the app. Klontz has made it his goal to get credible content out there in front of impressionable young viewers.

"I could make viral videos every day by saying stuff like, ‘buy this stock today, and you will become a millionaire next week.’ I mean … people watch those videos. It’s very clickbaity; it’s everybody wanting to become wealthy."

Klontz is not alone in his aim to dispel dangerous money myths. There are currently over 950K videos tagged with #PersonalFinance on the app. Financial TikTok, or FinTok, is one of the platform’s most popular realms, which can make it tougher to differentiate between good advice and bad.

While there’s plenty of mediocre advice circulating these days, there are also knowledgeable and earnest voices like his, happy to share much more boring (but effective) ways to build wealth.

Kids are interested, but not educated

The hustle of the stock market has led to a surge of young people interested in stocks and making fast profits. This is most evident in the the GameStop fiasco of early 2021, one example of the stock-buying frenzies that have been triggered by “memestocks,” corporate shares that suddenly become popular through online buzz. 

A survey from Wells Fargo in the US revealed that 45% reported becoming more interested in investing after the GameStop “short squeeze” frenzy.

A May 2023 report from the CFA Institue also reveals that 18-24 year olds are more willing to take on more risk with investments like cryptocurrency (57%) as opposed to mutual funds (45%) and individual stocks (41%).

“FinTok” (financial TikTok) is full of posts about how to make or spend money from experts and clout-chasers alike. For the average user, it can be hard to discern whose advice is trustworthy, especially when the bad advice sounds so appealing.

What worries Klontz is that young people may be only setting themselves up for failure — and major losses.

So financial education through social media seemed like an opportunity to counter all that bad advice.

“You’ve got two seconds to get people to stick around to see what you have to say,” says Klontz. “I found it like a professional challenge for me to take personal finance and psychology and money information and try to make short, punchy and entertaining [videos].”

His posts have helped balance out all that bad advice — and they’ve come at just the right time.

Influencing others intentionally

Millennial money expert Jessica Moorhouse started her blog in 2011 as a way of documenting her own journey figuring out her finances, but at a certain point, she turned her focus from her own self-education to helping others in their financial journey.

Moorhouse is particularly worried about the advice people are getting about cryptocurrencies. She says she has been offered “a lot of money” to promote crypto, but refuses to.

“I’m probably leaving money on the table, but I don’t care,” she says.

Since launching her blog, Moorhouse has gone on to add a podcast, Instagram account and a YouTube channel, and financial education has become her full-time job.

"If it seems scammy, listen to that voice inside you … because that check is usually right," she says. "We all know what a get rich quick scam looks like; they’ve been around for years. So a lot of it has to do with, internally, what do you feel?"

Helping followers distinguish between good and bad advice

While Klontz says the advice he gives younger generations hasn’t changed in 20 years, the challenges young people face have. Misinformation spreads easily and quickly these days. And since Gen Z gets the majority of its information about investing through social media (48%), accroding to the CFA Institute, there is greater chance for misinformation to inform people’s financial habits.

“There’s no barrier to entry in terms of who can put out a video on any topic,” says Klontz. “And with the younger generation, they don’t care about credentials as much as they care about clout.”

On top of that, it’s easy these days to go viral or make a lot of money marketing faulty products or strategies, which makes it harder for consumers to discern between the “good” and “bad” advice they see online.

Moorhouse says that’s why it’s so important to look beyond just social media for information — read books, look into the credentials of those you’re taking advice from and consume everything with a grain of salt.

“It’s kind of like the fitness industry,” says Moorhouse. “You’ve got to be so careful who you follow and trust… are they going to give you bad information about meal planning and diet and exercizing because they’re not actually trained to become a personal trainer?”

And the apps themselves are beginning to get in on the conversation. In fact, TikTok has been working with Klontz since 2020 through its #LearnOnTikTok initiative, helping him learn how to get his educational content in front of more eyes.

But the best thing about Klontz’s TikTok fame is how his nephews and other young relatives have reacted.

“’I’m the cool uncle, which is really nice,” says Klontz. “I have some clout — some of my cousin’s kids, when I get around them, will be looking at me like I’m a celebrity.”

And even better, they come to him for financial advice, which he’s always happy to share.

Sources

1. Think Advisor: Social Media Sparks Teens’ Interest in Finances, Investing, by Michael S. Fischer (Jun 2, 2021)

2. CFA Institute: Gen Z and Investing: Social Media, Crypto, FOMO, and Family (May 2023)

This article TikTok is a swamp of bad financial advice, and experts are fighting back originally appeared on Money.ca

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Per recent Morningstar reporting, on March 4, the S&P/TSX Composite Index with a net loss of 429 points. A potential trade war with the US has raised the alarm for a potential recession in Canada, which is dealing with a less-than-stellar economy, a spike in joblessness and weak business sentiment.

While stock market volatility may make stashing your cash in a shoebox under your bed seem like the safest bet to sidestep any big investment losses, an investor would only have to look back at the big market crash of 2008 and the subsequent recession to know that while things may get tough, the markets inevitably self-correct and things will get better — but it will take some time.

Here are three things to keep in mind as you watch stocks fall.

1. The market is resilient

When investment professionals like Dan Tersigni, director of digital advice at Wealthsimple, get calls from clients when markets are tanking, they know what the question is going to be even before the customer asks.

Tersigni recounts a common concern shared by a broad swath of clients: "’It doesn’t look like the news is going to get any better. Shouldn’t I just get out now, cut my losses, and then get back in when things start rebounding?’"

And here’s what he tells them: Stay the course with your investing, because over time "the odds are overwhelmingly in your favour."

No matter how awful things may look on a particular day or during a particular week, stocks generally make back their losses and then some.

But you have to be willing to be patient. Tersigni points out that it took markets four to five years to recover from major downturns in 2001 and 2008.

2. You have goals

Are you investing for the long haul, working toward a big goal down the road — maybe a comfortable retirement? The worst thing is to go off track by ditching investments when stocks take a dive.

"For most of us, not much has changed just because the market has gone down recently, you’re saving for retirement, you have a 20-year horizon," says Tersigni. "You still have time on your side, and you really don’t want to be making short-term decisions."

And if you are close to retirement, the thing to remember is that it’s a decades-long journey, not a one-time thing. So you, too, have time to make back losses.

If volatility in your accounts keeps you up at night, maybe you need to reevaluate your investment mix. Your money should be diversified, to help you weather the market storms — even the hurricanes.

At those times, the best approach is to restrain yourself from peeking at your battered balances and keep your hands off your portfolio.

3. Market downturns can be good times to buy

Normally when the stock market takes a pounding, you shouldn’t focus on what you’re losing, but instead on what you could be buying. A market plunge or "correction" makes stocks cheaper.

But the uncertainty surrounding a potential trade war has made it riskier to follow the usual advice to "buy on the dips." You could lose money if you mistakenly bet that a stock has hit bottom.

"It’s going to be really hard to do. Your odds of getting it right are low," says Ben Reeves, Wealthsimple’s chief investment officer.

A better approach is to maintain steady, automatic withdrawals from your bank account into a well-diversified portfolio, maybe one held at an automated investing service that uses technology to keep making adjustments in your investments. That way, you’ll get the best performance from your money — even during the worst of times.

Sources

1. Morningstar: Stocks Hit by Tit-for-Tat Tariffs, by Vikram Barhart (Mar 4, 2025)

This article All this talk of tariffs and market volatility may have you thinking: If the stock market crashes, what’s an investor to do? Here are 3 things to be mindful of originally appeared on Money.ca

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

"It’s important to emphasize that tips are considered taxable income, by law, even if your employer does not include any tip amount on your T4 slip. But the good news is there are many ways to make your tips work in your favour when it comes to filing your taxes," Yannick Lemay, H&R Block Canada tax expert, said in a statement.

"Not only are there numerous deductions, benefits and credits you can leverage, there are tax-friendly ways to use your tips to invest in your professional growth and well-being and bolster your savings."

The survey also revealed that nearly one in three Canadians have worked a service job at some point.

The tax implications of tips

Most Canadians know that tips count as taxable income — but not everyone is on the same page.

A recent survey found that 84% of Canadians understand that tips, whether given in cash, by credit card or through other payment methods, must be declared for tax purposes. However, 16% were unaware that tips need to be reported as income.

Despite this, many Canadians still assume cash tips can fly under the radar. Nearly half say they prefer to tip in cash, believing it spares the recipient from having to pay taxes on it.

There’s also confusion about where tip money actually ends up. Half of Canadians think their tip goes straight to the worker, while the other half believe it lands in the employer’s hands instead.

With tipping culture evolving and digital payments becoming the norm, it seems Canadians still have some uncertainty about how their gratuities are handled.

Are Canadians getting tired of tipping?

Using digital means to pay a bill brings about its own frustrations for customers. A colossal 94% of Canadians say they’re annoyed by card payment machines prompting tip options for services that tips or gratuities weren’t previously expected, for example, at the convenience store. Their frustration is exacerbated by their sense of responsibility when faced with that tip option, with more than half of Canadians reporting they feel awkward skipping the tap prompt, and tend to leave a tip anyway.

Overall, 53% of Canadians consider themselves to frugal tippers, typically opting for the lower tip option and/or only tipping for exceptional service. This compares to 39% who say they’re generous tippers and tend to opt for the higher tip amount or tip most services.

The bottom line

Tipping culture in Canada is clearly evolving, bringing with it a mix of confusion, frustration and financial responsibility. While many Canadians support tipping, there’s a growing weariness around digital tip prompts and uncertainty about how tips are taxed and distributed. At the same time, service workers rely on gratuities as a crucial part of their income, making it essential for them to understand their tax obligations.

Whether you’re a customer navigating tipping fatigue or a worker ensuring compliance at tax time, staying informed can help make the process smoother for everyone.

Survey methodology

The survey was conducted online in English and French between February 12 and 13 among 1,790 representative Canadians.

This article Many Canadians are simply unaware of the realities of tippingoriginally appeared on Money.ca

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

But let’s be real: The stock market can be intimidating. According to a 2024 Ipsos poll only 56% of Canadians feel comfortable investing their own money. Turns out 1 in 4 (25%) of investors who do not feel comfortable investing their own money are blocked by a lack of knowledge or the fear of losing money.

But if you continue to save without investing, you run into a big problem. Most safe investments, such as high-interest savings accounts or guaranteed investment certificates (GICs) only earn enough to stop an erosion of purchasing power, due to inflation. That means if you saved up $265,000 and you don’t look for an investment option with better than inflation interest rates then, over time, you’ll end up losing money.

So, where should you put your money for solid returns while minimizing risk? Let’s explore some options.

High-yield ETFs

If you’re looking for strong returns in a short period of time, high-dividend stocks with market stability are key. That’s why exchange-traded funds (ETFs) are ideal.

ETFs are investment offerings that give you access to multiple stocks, bonds and other assets in one, simple fund. Managed by financial experts, ETFs are designed to offer growth and stability, which makes them ideal for someone seeking a cost-effective investment with the built-in advantage of diversification.

Some ETFs specialize in high-yield dividends, meaning they generate steady payouts while maintaining a proven track record. Even better, there are short-term ETF options designed to yield returns in a relatively short period.

ETFs offer diversification, liquidity and lower fees compared to individual stocks or mutual funds, making them an attractive investment. They allow investors to spread risk across multiple assets while benefiting from passive income through dividends.

But they still carry some market risk, meaning their value fluctuates with economic conditions. High-yield ETFs may offer stronger returns, but they are not immune to volatility. Investors should assess their risk tolerance and investment timeline before committing. If you’re feeling uncertain, consult a financial adviser before diving in.

Short-term treasury bills

Not comfortable with stock investments? Well, Treasury bills — or T-bills — might be just what you need.

Backed by the Canadian government, short-term Treasury bills can be a low-risk alternative to the stock market. These bonds are highly liquid and start maturing in one year or less. And because they’re traded on a secondary market, they remain in high demand, making it easy to sell them if needed.

The trade-off? Returns from these bonds generally lag stocks or ETFs. However, if your priority is safety over growth, Treasury bills might be a great fit.

Real Estate Investment Trusts (REITs)

Want passive income without the hassle of being a landlord? Real estate investment trusts (REITs) offer high-yield dividends with monthly payouts, making them an attractive short-term investment option.

To reduce risk, opt for publicly traded REITs, which are regulated by theCanadian Securities Administrators (CSA) and offer more transparency than non-traded REITs.

It’s important to know that some non-traded REITs come with high up-front fees — which could eat into your earnings.

Staying off the market: HISAs or GICs

If the stock market still feels too risky, high-interest savings accounts (HISAs) and [Guaranteed Investment Certificates]https://money.ca/investing/best-gic-rates-canada) (GICs) offer a safe place to park your money while earning interest.

A GIC is a secure option that locks in your money for a fixed period — ranging from a few months to a few years — usually at a higher interest rate than a standard savings account. However, there’s a catch: once your money is in GIC you likely won’t be able to withdraw it without penalties until the term is up. This makes GICs a good choice if you’re confident you won’t need access to your funds before then.

A HISA, on the other hand, provides more flexibility. While it won’t offer returns as high as an aggressive investment, it does earn more interest than a traditional savings account and allows you to access your funds whenever needed. Annual percentage yield (APY) rates up to 4% were common as of writing — making these accounts a solid option if you’re looking for both safety and liquidity in the short term.

Since your goal is to preserve capital while earning modest growth over three years, either option could work: GICs for higher rates with restrictions, or HISAs for flexibility with slightly lower returns. The right choice depends on whether you’re comfortable locking up your savings or if you’d prefer to keep your cash accessible.

Investing doesn’t have to be scary, even if you only have three years to make it work. Whether you go for high-yield ETFs, Treasury bills, REITs or safer options like GICs and HISAs, there’s a way to grow your $265K without taking on unnecessary risk.

The key? Find the balance between risk and reward that works for you. And, if in doubt, get expert advice before making a move.

How to invest $265K to earn monthly income

If you have $265,000 to invest and your goal is to create a portfolio that provides regular, consistent income then a diversified approach is critical. To achieve this, consider high-yield ETFs as they provide dividend payouts while spreading risk across multiple stocks, making them a strong option for steady income.

Another good option are REITs as these assets can boost cash flow with monthly dividends from real estate properties, without the hassle of direct ownership.

For lower-risk alternatives, short-term Treasury bills offer stability and liquidity, though with modest returns. If safety is the priority, Guaranteed Investment Certificates (GICs) or high-interest savings accounts (HISAs) provide secure, predictable interest — ideal if you need flexibility or a locked-in rate. A mix of these options can generate reliable income while protecting capital.

For instance, allocate 40% of your portfolio to high-yield ETFs, such as the Vanguard High Dividend Yield ETF (VYM) or the iShares Canadian Select Dividend ETF (XDV). The expected yield is betweeen 3% to 5% annually or approximately $3,180 to $5,300 per year in earnings.

Allociate 25% of your portfolio to REITs, such as Canadian Apartment Properties REIT (CAR.UN), RioCan REIT (REI.UN). You can expect an annual yield between 4% to 6%, which translates into an annual income between $2,650 and $3,975.

Invest 15% in short-term T-bills with an expected yield between 4% and 5%, which translates to a potential income of $1,060 to $1,325 each year.

Finally, save 10% of this nest egg in a high-interest savings account (HISA). Choose an aggressive payout, between 3% and 4% and you can expect an annual income of $795 to $1,060.

Total earnings based on $265K portfolio

Based on the proposed portfolio, you can expect to earn between $8,877 to $13,250, per year, from your invested portfolio.

Sources

1. Ipsos: Many Canadians do not feel knowledgeable about investing and/or comfortable investing their own money (May 15, 2024)

— with files from Romana King

This article I’ve never owned stocks but I’ve saved $265,000 in cash. How can I ‘set and forget’ my life’s savings so I can live off dividends in the next 3 years?originally appeared on Money.ca

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

That’s because the noted Wall Street “permabear” — a term used to describe an investor who assumes the value of stocks and shares will fall regardless of market conditions — anticipates a major market crash due to the "greatest credit bubble in human history." As he recently put it: We are on the verge of a Black Swan event (an unpredictable occurrence with a significant impact that wasn’t widely predicted) and on the precipice of a major market correction.

Spitznagel is the billionaire investor and hedgefund manager who managed to correctly predict the market crashes in 2008 and 2000. With this in mind, he is warning all investors to consider the risks that exist in today’s economic environment — and to prepare to weather the impending storm.

Why Mark Spitznagel predicts stock market crash

Mark Spitznagel recently told Business Insider that he believes the “worst market crash since 1929” is coming.

As the Chief Investment Officer of Universa Investments, Spitznagel’s biggest concern is how prominent debt is in all financial decisions — from day-to-day consumer choices to federal initiatives.

“Credit bubbles end. They pop. There’s no way to stop them from popping,” he said, adding that the Fed has brought the economy to a place “where there’s no turning back.”

Spitznagel’s advice: Don’t chase returns. Instead, he suggests investors build a portfolio that can withstand market crashes and dips. To help, here are some tips on building a recession-proof portfolio.

How to prepare your portfolio in case of a market crash or recession

The first step to preparing your portfolio is to consider how diversified your holdings are in terms of assets, sectors, geographic regions and market cycles.

For instance, most investors are advised against holding an all-equity portfolio. Instead, a balanced portfolio is preferred as it allows investors to capitalize on market appreciation, but hold steady with bonds and alternative investments should economic conditions weaken.

While stocks and bonds are the standard assets to hold in a balanced portfolio, other alternative investments are now growing in popularity. To help you choose, here’s a list of the three most popular alternative investments that can help your investment portfolio stand strong against any market storm.

Art as a hedge against a market crash

If you’re looking to diversify your portfolio outside of real estate, consider an alternative asset like fine art. Masterworks is making this inflation-hedging asset — which has historically been reserved for the ultra wealthy — accessible through their platform.

With Masterworks, you can purchase shares of iconic works of art and benefit from their diversifying ability, without needing to shell out millions of dollars at an auction.

Gold as a hedge against a market crash

Gold has long been considered a safe haven asset. This precious metal is an investor favourite, particularly when there is market uncertainty.

Despite persistent inflation throughout 2023 and 2024, gold prices continued to grow, reaching new heights in 2024 with a price that hovered around CDN$3,575 per ounce.

While Canadian investors can purchase gold bars, coins, or bullion through Silver Gold Bull, most choose to invest in gold stocks or an ETF that tracks the price of gold. The best way to do this is to open a discount brokerage account. Good options include:

Real estate as a hedge against a market crash

If you have enough cash, you could simply buy an investment property in one of Canada’s sought-after rental markets. But it’ll cost you.

Another option is to invest in real estate investment trusts (REITs). A REIT allows you to invest in a company that owns, operates and earns a profit off of real property. By investing in REITs, you get exposure to real estate earnings and appreciation without having to manage or finance the properties, personally.

For investors who want a hedge against equity market downturns, consider REITs that focus on commercial properties, such as retail malls, storage facilities and data warehouses. Like gold ETFs, a good way to purchase and sell REITs is to open an account on an online trading app.

There are also several real estate investment crowdfunding platforms available in Canada such as NexusCrowd, addy Invest, Equivesto, BuyProperly and Willow.

Keep in mind, it also pays to keep some cash on hand. Cash reserves in your portfolio could be the difference between you holding fast through market turmoil or you having to sell your investments at a loss.

Bottom line

If Spitznagel’s predictions of a market crash come true, Canadians who are overly concentrated in equities may face significant losses. To protect your investments, consider adding alternative assets to your portfolio, including real estate, commodities and international exposure in markets less correlated with North American economies, as they could provide a safety net, as well as gold and fine art investments.

For Canadians looking to build a crash-proof portfolio, focusing on diversification across asset classes is critical. Additionally, engaging with a qualified financial adviser who can help build a portfolio that aligns with long-term financial goals while preparing for potential market volatility, can go a long way to creating a balanced, market-proof portfolio, as well as providingpeace of mind.

Sources

1. BNN Bloomberg: US$6.4 trillion stock wipeout has traders fearing ‘great unwind’ is just starting (Aug 5, 2024)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.