Canadian economy expected to slowly grow in 2025, despite Donald Trump tariff risks
The Canadian economy is expected to grow moderately in the first quarter of 2025, according to the latest Main Street Quarterly report from the Canadian Federation of Independent Business (CFIB). The report forecasts growth of 2.5% in the first quarter, following an increase of 3.2% in the final quarter of 2024. “While the Canadian economy […]
Inflation, cost of living still top of mind for Canadians, despite a lack of financial planning
According to a new survey from TD Bank Group, 49% of Canadians surveyed still foresee inflation and cost of living as their biggest financial challenge this year. This is down 9% from last year. "As 2024 came to a close with a fifth consecutive interest rate cut from the Bank of Canada, Canadians have responded […]
Prorogation of Parliament and the proposed capital gains tax amendment
In the spring federal budget, Prime Minister Justin Trudeau proposed an amendment to the capital gains tax, to take effect in the summer. But, with the announcement that Trudeau is stepping aside before the amendment receives Royal Ascent, Canadians are left questioning who their next leader will be, and, for many, what this will all […]
Can you still get a car loan after bankruptcy?
In the age of super high debt loads, bankruptcy remains one of the more misunderstood topics in Canadian personal finance, despite its prevalence over the past year. As of the second quarter of 2024, households had an average debt level of $176,525 according to Statistics Canada. Plus the Canadian Association of Insolvency and Restructuring Professionals […]
Using a gift letter for a mortgage down payment
Let’s say you’re ready to buy your first home — and take advantage of mortgage rates that are finally starting to drop — but your bank account isn’t. If you don’t have the down payment money, loved ones are allowed to help. But you’ll need what’s known as a "gift letter." What is a gift […]
Sickened and silenced: Saskatchewan families forced to sign NDAs — or pay out of pocket — after falling ill at Cancun resort
Two families from Saskatchewan recently shed light on a troubling experience at the Royalton Splash Riviera Cancun resort in Mexico. Following severe gastrointestinal illnesses, they faced financial and medical hardships exacerbated by resort staff pressuring them to sign non-disclosure agreements (NDAs) in exchange for assistance, according to a report from the CBC. Jesslyn Schigol’s husband […]
Planning on passing off the business you found in hopes of retiring? Be mindful of this potential tax hit when doing so
You founded a business, put everything into it for decades and now you’re ready to sell your company shares and move on. But, when you sell those shares, you should still make sure to walk away with a very valuable asset — the “key person” insurance policy the company took out on you in case […]
How to protect your finances when leaving an abusive partner
Managing your finances is a difficult enough task as an individual, but when it becomes intertwined with someone else, the layers of difficulty expand. This becomes especially true if the person you share your finances with is abusive. According to Statistics Canada more than 11 million people in Canada have experienced intimate partner violence (IPV) […]
So you’ve joined the gig economy; What are you doing about life insurance? Here’s what you need to know
The gig economy is a big economy. According to research by Securian Canada, nearly one-quarter of Canadians (22%) – or approximately 7.3 million adults – are participating in gig work in some capacity across the country. Most gig work is done out of financial necessity, with more than half of gig workers (57%) relying on […]
2024 was the most expensive year for weather-related losses in Canadian history
For the first time in Canadian history, insured damage caused by severe weather events surpassed $8 billion, according to Catastrophe Indices and Quantification Inc. (CatIQ). The $8.5 billion total flew past the $6 billion from 2016, when the Fort McMurray wildfires destroyed almost 600,000 hectares of land and destroyed 2,400 homes and businesses. "Sadly, beyond […]