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 (pictured) endured unrelenting vomiting, while Allison Field’s young son was hospitalized due to dehydration. Both families reported observing poor food handling practices, which they believe caused the illnesses. The financial burden was significant: Field had to pay for her child’s care upfront despite having insurance (she would eventually file a claim to be reimbursed at a later date).
The resort offered minimal compensation — between $500 to $1,000 — and only if the families signed NDAs.
As a result, these Canadian families were left feeling unsupported and, worse, coerced into staying quiet in order to get help. It’s a situation that’s raising broader concerns about the use of NDAs in the tourism industry.
Not the first time resorts have used coercion and unfair practices
The use of NDAs to silence dissatisfied guests is not an isolated issue. Across the globe, travellers have reported similar instances, such as being forced to sign NDAs to conceal negative experiences or misconduct.
Other troubling practices include:
High-pressure sales tactics: Vacationers are often lured into timeshare presentations disguised as free events or special offers. Once there, aggressive tactics push them toward financial commitments that may not be in their best interests.
Involvement in illegal activities: Some travellers have unknowingly participated in illegal acts, such as smuggling, due to deceitful offers or coercion.
Tourist scams: In popular European destinations, scams involving “free” items like bracelets often escalate into demands for payment or theft.
Unsafe activities: Tourists are sometimes pressured to engage in hazardous activities, such as venturing off designated paths, which can lead to accidents or legal trouble.
Statistics on vacation mishaps
Travellers are increasingly encountering health and safety risks. According to various industry reports:
Health issues: Up to 87% of travellers became ill during or after international travel, with gastrointestinal symptoms the most frequent symptom.
Scams: Tourist-targeted scams are prevalent, with reports of financial losses exceeding thousands of dollars annually. In the UK, scams resulted in annual losses of £11.4 billion (CDN$20 billion), with only 18% of victims managing to recover their losses. In a Global State of Scams Report 2024, analysts calculated that scammers siphoned more than USD$1.03 trillion globally in just the last year.
Coercive tactics: Experts warn about the rising use of NDAs in the hospitality sector, often used to protect corporate reputations but at the expense of guest trust.
Travellers can take proactive steps to safeguard their health, finances and overall safety while abroad:
Thorough research: Investigate resort reviews and prioritize establishments with strong health and safety practices. Be wary of offers that seem too good to be true.
Comprehensive travel insurance: Ensure policies cover emergencies, including upfront payments for medical care.
Awareness and preparation are key to avoiding unpleasant surprises while travelling. By educating themselves about potential risks and asserting their rights, vacationers can not only protect their own interests but also advocate for better practices within the tourism industry.
Travel should be a source of joy and relaxation, not a cause of distress — something these two Saskatchewan families missed out given their last experience.
Disclosure: Some of the content was created or enhanced with the assistance of artificial intelligence (AI) tools. While we strive to ensure accuracy and quality, all content is reviewed and approved by our editorial team before publication. For specific advice or decisions, always consult a financial professional or trusted expert.
Sources
1. CBC: Resort staff pressured ill guests to sign NDAs during Cancun vacation, say Sask. families, by Jeremy Warren (Jan 14, 2025)
2. Bored Panda: “People Who Are No Longer Bound By NDAs, What Are Some Secrets That You Can Expose?”, by Jonas Grinevičius and Dominyka (Oct 22, 2024)
3. Better Business Bureau: BBB Investigation: Vacation schemes unethical and deceptive (Apr. 26, 2023)
4. International Business Times: 28-Year-0ld Brit regrets free Mexico holiday from strangers after ‘unknowingly smuggling cocaine’ for them, by Vinay Patel (Nov. 29, 2024)
5. The U.S Sun: The jewellery trick scamming tourists out of cash across European holiday spots, by Emma Crabtree (Jun. 30, 2024)
6. The Cool Down: Yellowstone visitors spark anger after ignoring warning signs on boardwalk trail: ‘It’s a disaster waiting to happen’, by Justin Housman (Nov. 7, 2024)
7. BMC: Travelers’ health problems and behavior: prospective study with post-travel follow-up, by Katri Vilkman, Sari H. Pakkanen, Tinja Lääveri, Heli Siikamäki & Anu Kantele (Jul. 13, 2016)
8. Global Anti-Scam Alliance: Scammers steal £11.4 billion from Britons in 1 year as 71% fail to report scams – State of scams in the United Kingdom 2024, by Sam Rogers (Nov. 25, 2024)
8. Global Anti-Scam Alliance: International Scammers Steal Over $1 Trillion in 12 Months in Global State of Scams Report 2024, by Sam Rogers (Nov. 7, 2024)
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 you pass away.
A majority of Canada’s baby-boom era business owners are at a crossroads, with 76% saying they plan to sell out or transfer ownership to the next generation within the next decade, according to a Canadian Federation of Independent Business report. That is over $2 trillion in business assets that will likely change hands within the next ten years.
If you’re among those founders and want to hang on to that insurance policy, you should know that transferring it is doable, but can come with a tax hit.
Why companies insure their own people
There are three main reasons why a private corporation insures the lives of its key people, says Kevin Wark, tax advisor for the Conference for Advanced Life Underwriting and Managing Partner at Integrated Estate Solutions in Toronto.
First, the company has borrowed money and the lender asked for security in the form of life insurance on the owner/managers. That insurance becomes collateral to ensure the business’s loans can be repaid if a key person dies.
“The policy protects the financial institution as well as the key people’s families, because they won’t be burdened with any debt the company took on,” says Wark.
Second, two or more shareholders have a legal agreement to buy each others’ shares. Raising the cash to buy them can be challenging if an owner dies, so the company buys insurance that will fund the cost of acquiring those shares.
Third, if it’s a family-owned business that will be passed on to the owner’s children, they may want the insurance money to go to the estate and pay the taxes on the growth in value of the company shares that will be inherited.
Why a business seller would want to keep the insurance
You probably started your business when you were young and bought a permanent insurance policy to ensure coverage would last the entire time you own your company.
Permanent insurance products also have level premiums and can eventually be fully funded. So, when you decide to sell, the corporation’s policy on your life may have considerable cash value built up inside the policy’s savings component.
“The company paid the premiums for a number of years and that creates a value in the policy,” says Wark.
Now all you need to do is get the insurance out of the business and put it into a structure that pays it to your estate or your named beneficiaries.
Watch for tax consequences
You’ll need to move the policy tax-efficiently, Wark says. There are two main issues.
First, the transfer of the policy is treated like a sale and rules in the tax act spell out how much value the policy has gained since it was taken out.
For transfers to a shareholder, the tax act calculates the proceeds as the greater of three amounts: the cash-surrender value of the policy, the cost of the policy and whether cash or other consideration was paid for the policy.
Wark says there could also be a taxable gain for the corporation. If you don’t pay for the policy when you sell your shares and the policy gets transferred, the Canada Revenue Agency (CRA) could say you received a taxable benefit equal to the fair value of the policy.
“It’s a transfer of an in-force policy, and the fair-market value of that policy could be high,” Wark says.
That can be particularly true for someone who’s older, or in poor health, and would have a hard time getting a replacement policy.
Plan ahead to prevent a tax hit
The worst-case scenario for taking a policy out of a company is for them to transfer it to you without any payment being made. That could trigger tax reporting within the company because the CRA sees it as a policy sale. Plus, there’s a shareholder benefit equal to the fair-market value of that insurance policy.
“We see situations where policies are transferred because the person hasn’t gotten advice,” says Wark. “All of a sudden, they have to deal with these very adverse tax consequences.”
A better solution is for the company to pay the policy out to you as a dividend, but at its full value. So, if it was a $1 million policy with a $100,000 cash-surrender value, Wark says, you’d take it to a valuator and they would say it’s worth $200,000.
“We convert that to a $200,000 dividend and pass the policy out as payment,” he says. “That way you get the dividend tax credit and the total tax liability is lower.”
But, the best way to transfer a policy is to do what’s called a share reorganization. You set up a holding company (that you own) and insert it between yourself and the operating company that you’re selling.
The operating company then pays out the insurance policy as a dividend to the holding company.
“Generally, dividends paid between corporations and holding companies are tax free,” says Wark. “So the policy goes into the holding company, which the shareholder continues to own after selling the operating company.”
There’s still one concern: A provision of the tax act could convert the dividend into a capital gain under certain circumstances.
“You can deal with it by having a holding company in place [when you start your business] so that it owns the insurance,” says Wark. “The holding company or operating company can be the beneficiary. And because the policy is not transferred out of the holding company, the negative tax consequences can be avoided.”
In other words, plan way ahead.
Sources
1. CFIB: Over $2 trillion in business assets are at stake as majority of small business owners plan to exit their business over the next decade (Jan 10, 2023)
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) at least once since the age of 15. In 2023, of the 123,319 people aged 15 and over who experienced IPV, 78% were women.
But for those who are ready to leave an abusive situation, another problem arises: money.
And overlooking finances in your plans can lead to costly and heartbreaking situations down the line.
Your financial security is your future
Deciding to leave an abusive partner is all about regaining control, says Betty-Anne Howard, a financial planner with Athena Wealth and Legacy Solutions in Kingston, Ont.
Howard, who has a master’s degree in social work, says that’s part of what makes leaving these situations so dangerous.
“When you leave an abusive partner, they’re feeling as though they can’t control you anymore,” says Howard. “And so then that accelerates and magnifies how that person is going to try to get control.”
And what better way to try to control someone than by attacking their finances?
Whether racking up purchases or withdrawing funds from a joint account, cutting off payments or threatening expensive legal actions, threatening someone’s financial security puts their entire future at risk.
The first step is finding help
Cindy Scharff, a family lawyer with Gelman and Associates in Barrie, Ont., says while safety is always the number-one concern in cases of intimate partner violence, how someone is going to leave should be their next thought. And in most cases, that will involve access to money.
“A lot of people are starting from zero trying to figure out: Well, what do I even have? And then, what do I need? Both of those can be big unknowns to people when they’re trying to figure out how they can do this,” says Scharff.
Howard emphasizes that it’s important women in this situation seek out “good help,” or people who won’t bully them into action. Those seeking to leave an abusive situation need to be able to make their own decisions in their own time.
But there are some things that can’t wait until someone feels emotionally ready. Howard says if your partner is your named beneficiary on any registered accounts, life insurance policies or your power of attorney, it’s important to remove your partner from those documents right away.
Not doing so can cause problems well after you’ve moved on with your life, Howard says. She often hears of cases where couples have split up and it’s only when someone dies years down the road that it’s discovered their former partner is still their beneficiary on everything.
On top of that, women leaving abusive situations will often want to wash their hands of their former partner, says Scharff.
But especially when children are involved, Scharff encourages clients to envision their future and what they’ll need financially to accomplish their goals. That means not turning down alimony, child support or your share of the marital assets.
Howard adds she often reminds women the support they’re entitled to could make a huge difference in their lives. Understanding their rights and picturing their future selves can encourage women to fight for what they’re owed.
What to do when you don’t have money to leave
While some can afford the time to get through these situations, others may not be in a position to afford professional help like a lawyer or financial advisor.
Community organizations help fill a void when support is otherwise out of reach. Howard recommends reaching out to local shelters or transitional housing to learn what supports are available in your community.
Every province and territory offers legal aid services, which makes it possible to seek support navigating the justice system, regardless of income.
One province that is going beyond the basic level of support is Alberta, which provides residents with a family violence credit to help cover the immediate costs associated with leaving an abusive home.
Along with the province’s other intimate partner violence programs, Justin Marshall, press secretary for the government of Alberta, says his employer takes the threat of family violence seriously.
“Giving people access to the right information could potentially save their lives,” says Marshall.
Quebec also stepped up its support for survivors last year, announcing it was setting up a hotline, 1-833-REBATIR, for victims of intimate partner violence to receive free legal advice. And in the fall, the province also allocated the money to create an emergency fund like Alberta’s.
Find your network
Howard says support is out there for survivors looking for help — even if it may take some digging to find.
She adds she would never turn away a woman looking for support, and that many financial advisors would look for resources or connections to help a woman in need.
Scharff adds that calling your financial institutions to give them a heads up of the situation can help protect you from any retaliatory actions. In some situations, lawyers can file an emergency motion to freeze certain assets — but that can take time, and the other party will be notified.
Even when it comes to collecting documents, survivors need to be careful. Round up everything with your name on it, but keep in mind that you can be legally liable for damages if you invade someone’s privacy to access their financial records.
“First and foremost … they have to do what they need to keep themselves safe,” says Scharff. “But also putting their mind ahead of time to how the financials are going to work is key to being able to get out and being successful once they’re out there.”
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 this type of income to supplement their primary income.
Not unlike online dating, the gig economy has evolved rapidly from its initial status as a last resort for the desperate, to a first option for many Canadians.
The flexibility makes gig work attractive to anyone looking to set their own hours and the relatively low bar to entry makes these temporary jobs, primarily in the service industry, accessible to a large part of the workforce.
But, one area where the gig economy’s development has stalled is providing benefits, like insurance, particularly life insurance. Nearly one-fifth (18%) of gig workers said they do not have insurance — Additionally, 50% of those who rely on this type of work as a primary income revealing they do not have insurance.
If you’re lucky, your gig employer may provide vision, dental and health coverage, but if something more severe happens, what’s your plan?
If your gigs are your household’s sole source of income, what happens if you get critically injured and can’t work for an extended period of time? Who pays the rent? And, if it’s worse than illness, what resources can your family rely on to ensure their bills — and your funeral costs — are paid?
The state of gig worker benefits in Canada
No employer is legally required to provide life insurance to their employees, but many do as a way of attracting, retaining and rewarding their staff.
In 2023, 62% of life insurance in Canada was secured through employer-supported group plans, according to a poll conducted by PolicyMe.
But, with gig employers, offering life insurance appears to be less of a priority. Rideshare giants Uber and Lyft provide fairly generous accident insurance — while you’re driving for them — but offer no group life insurance or critical illness coverage. Food delivery companies DoorDash and Skip the Dishes offer even less auto coverage and no health or insurance benefits.
Be prepared
Providing drivers with more money to put toward life insurance is a positive step, but for it to have any real impact, gig workers need to see life insurance as a priority.
According to the Canadian Life & Health Insurance Association, 75% of Canadians — nearly 30 million — have life insurance. If you’re a gig worker and have so far avoided securing coverage, you may want to join that cohort sooner rather than later.
“Term, permanent, critical illness, disability. These are all things that you need to look at,” says Michael Aziz, chief distribution officer at Canada Protection Plan. “Losing that income can be really disastrous for families.”
Two arguments young, healthy Canadians have against buying life insurance is that it’s expensive and unnecessary. But, accidents and illnesses can come for anyone; they don’t ask to see your ID before putting you on your back. And, the younger you are, the cheaper life insurance generally is.
Choosing the right plan
There is no shortage of insurance products out there for gig workers. Insurance companies are happy to take your money no matter who signs your paycheque.
Finding the right life insurance plan is a matter of balancing the cost with your budget, lifestyle and potential insurance needs. That’s a calculation that’s likely to require some professional guidance.
“You need to do a needs analysis,” says Aziz. “Maybe you have some student loans, or you have a mortgage or a car loan or some other liability that you want to protect against. Build your portfolio to match that.”
Applying for insurance doesn’t need to get in the way of your gig-hopping. Non-medical and simplified issue policies allow you to buy life insurance without having to visit a doctor or answer too many health questions. However, be aware that these policies usually come with higher premiums since the life insurance companies have less information to evaluate your health, which poses a higher risk to them. Additionally, flexibility and policy options are limited compared to a fully underwritten life insurance policy.
Nothing’s guaranteed when you’re trying to make a living in the gig economy, including your health. Looking into your life insurance options is one way of chipping away at the mountain of uncertainty you face everyday.
Sources
1. Securian Canada: More than half of gig workers rely on supplementary income; rising costs drive many to seek additional employment (Oct 8, 2024)
2. PolicyMe: Key Canadian life insurance statistics, by Cristina DaPonte (Apr 28, 2023)
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 the staggering financial losses are hundreds of thousands of Canadians whose lives and livelihoods have been upended," Celyeste Power, Insurance Bureau of Canada (IBC) president and CEO, said in a statement.
"Canada’s property and casualty insurers have been there every step of the way, and continue to be on the ground, helping their customers rebuild and recover. The industry is doing its part, but it’s time for governments to take decisive action to protect Canadians from these escalating and dangerous events."
The 2024 total is nearly triple the total insured losses recorded in 2023 and 12 times the annual average of $701 million in the decade between 2001 and 2010.
2024 hit hard by natural disasters
The summer of 2024 stands out as the most destructive season in Canadian history for insured losses due to wildfires, floods and hailstorms. In just two months, July and August, four catastrophic weather events resulted in over $7 billion in insured losses and more than a quarter of a million insurance claims – 50% more than Canadian insurers typically receive in an entire year.
According to CatIQ, the single most-destructive weather event in 2024 was the August hailstorm in Calgary, Alberta, that caused $3 billion in insured losses in just over an hour, and flooding continued to cause significant damage in nearly every region across the country.
According to a release, IBC is stressing the disproportionate impact these catastrophic events are having on home insurance costs. Since 2019, Canada has experienced a 115% increase in the number of claims for personal property damage and a 485% increase in the costs for repairing and replacing personal property.
The 10 most severe weather losses of 2024
CatIQ provided a list of the 10 most impactful weather-related losses of the year, based on their own data. They are:
$100 million from the Western Canada deep freeze: Jan. 12 to 15
$60 million from Manitoba hailstorms: May 16
$135 million from Saskatchewan severe storms: June 23
$990 million from the Toronto and GTA flash floods: July 15 to 16
$1.1 billion from the Jasper, Alberta wildfire: July 22 to Aug. 17
$3 billion from the Calgary hailstorm: Aug. 5
$2.7 billion from the remnants of Hurricane Debby in Quebec: Aug. 9 to 10
$110 million from the GTA and Southern Ontario flooding: Aug. 13 to Sept. 16
$120 million from Southern BC storms: Oct. 18 to 20
"Canada is clearly becoming a riskier place to live, work and insure. As insurers price for risk, this increased risk is now impacting insurance affordability and availability," Craig Stewart, IBC’s vice-president of climate change and federal issues, said in a press release.
"Canadian governments must be more proactive to properly manage and mitigate risk. Governments need to invest in infrastructure that defends against floods, adopt land-use planning rules that ensure homes are not built on flood plains, facilitate FireSmart in communities in high-risk wildfire zones and implement long-delayed building codes that better protect homes and livelihoods."
It’s not always easy to save for retirement. After all, 46% of Canadians live paycheck to paycheck per Leger, which means that many may find it hard to find the available funds to build a nest egg. But any extra you can set aside will pay off in retirement — and possibly change your life before you retire.
Surprisingly, an extra $1,000 a month in savings may be right in front of you. Here are five ways you might be able to save more money.
#1. Start with a budget
The first step in determining how you might be able to save an extra $1,000 a month is to examine your spending and then make a budget. By itemizing all your expenses, you can get a better idea of where you might be able to comfortably cut back. Setting up a sustainable budget can keep you on track and help reduce unnecessary and impulse purchases.
#2. Take a bite out of your food expenses
The average, four-person family, spent about $16,295 in 2024, an increase of $702 from 2023, according to Agri-Food Analytics Lab. Despite the large chunk food takes out of your monthly budget, foot costs is one area where you may be able to reap some big savings. For instance, have you examined what you spend on takeout? Give that prices at restaurants and other food and drink establishments rose 5.1% in 2024, compared to 2023, according to Statistics Canada, eliminating the cost of takeout and eating is a quick way to cut food costs.
Most of us know the cost of that morning coffee we grab on the way to work adds up, but it’s also likely a small luxury we’d like to keep. One way to save is to grab a coffee, but skip the pastry you’re grabbing with it ― and try to pack a lunch for work.
Plan and prep your meals for the week if you can. Make it a habit to go grocery shopping ahead of time so you’re less tempted to grab takeout on the way home. Don’t neglect to check flyers for your local grocery store to take advantage of what’s on sale and consider adhering to the old-fashioned — but effective — practice of using coupons whenever you can.
#3. Put the brakes on your transportation expenses
While food is a major cost, Canadians also spend on transporation. According to Statistics Canada, Canadians spent $45.8 billion last year on getting around — or 13.6% of the total household budget. Some people might be paying too much for a vehicle — or paying for a fancier vehicle than they really need.
While it may not be realistic to get rid of your car at this point, you can cut back on costs by walking more, taking public transportation when possible or even carpooling to work more often. This can save on gas and parking, and may help to reduce wear and tear expenses for your vehicle.
It may even reduce your insurance costs, as they’re often affected by the number of miles you drive. It’s also a smart idea to shop around for car insurance or see where you can cut costs on premiums.
#4. Don’t forget to unsubscribe!
Take a hard look at your memberships and subscriptions, since they’ve probably piled up over the years. A staggering 73% of Canadians admit to having subscribed to a service when a free trail period or a promotional price was offered, with the intention of unsubscribing, but did not do so in time. A further 66% of Canadians admit to having paid for a subscription they had forgotten they had, according to research by Hardbacon, a personal finance application.
If you’re still paying for cable, consider switching to a streaming service. If you’re paying for multiple streaming services, consider cutting that down to one. Plus, it’s not difficult to stop one service and start another to get the programs you want.
Can you reduce your phone bill? Are you paying for online magazines that automatically renew but you never read them? What about apps that auto-renew? Are you still getting enough use out of them? Is it possible to work out at home and cut the gym membership? Or move to a cheaper gym? Look at all your renewable contracts and decide if they can be cut, renegotiated or reduced.
#5. Get big gains by cutting small expenses
When you look at your expenses, look for small things that add up. If you’re spending a lot on books, consider getting a library card. If you buy a lot of bottled water, start using a refillable water bottle instead. Can you get by with fewer manicures? Cutting back on regular small expenses that won’t change your quality of life much can really add up.
How saving $1,000 extra a month can change your life
If you’re able to start saving an extra $1,000 a month, you could start making big changes in your life. For starters, you’re likely to have more peace of mind. Having more savings means you’re more likely to be able to pay for unexpected emergencies without incurring more debt.
You’ll also go a long way toward building your retirement nest egg by taking advantage of compound interest. If you start by contributing $1,000 a month to a retirement account at age 30 or younger, your savings could be worth more than $1 million by the time you retire.
If you save $1,000 at the end of every month and put it in a high-interest savings account that pays 5% interest (compounded daily), you’ll have nearly $70,000 in savings in five years. Do this for 10 years and you’ll have over $157,000.
Finding an extra $1,000 a month might also mean you can worry less about your prescriptions or medical expenses, treat yourself to a vacation every few years or cut out that second job that’s taking you away from spending time with your family. Perhaps those small expenses aren’t as important to your happiness after all.
Everywhere you turn, from bus stops to your favourite podcast, someone is trying to sell you something.
Even when you take a break to see what your friends and family are up to online, you’re bombarded with images of them enjoying experiences or flashy new things.
It’s hard not to give in to the urge to keep up. And while there’s nothing wrong with a little fun spending, experts say if your retail therapy is just leaving you more anxious about — or avoidant of — your finances, the comfort it offers may not be worth the cost.
It’s all about balance
The most recent RBC Consumer Spending Tracking found that Canada is likely on track for a slight uptick in per-person retail spending for the first time since mid-2022. It’s likely no coincidence that this rise coincides with the steadying of inflation rates.
After being on financial edge, Canadians may want to participate in some revenge spending. In other words, they want to splurge in places where they’ve been pinching pennies previously.
Ed Coambs, a financial therapist in Matthews, N.C., and author of The Healthy Love & Money Way, says online shopping has made it easier — and more enticing than ever — to spend with abandon.
Coambs points out that marketing teams use neuroscience to develop platforms and content that trigger chemicals like dopamine when you shop.
“Their job is to get us to consume as much of their material, their ideas, their services, their goods,” says Coambs. “And often, there’s some unmet psychological need there that shopping is fulfilling for us.”
The trouble, he adds, is that this feeling of fulfilment doesn’t last, because you’re not actually getting what you need. While there’s a time and place for shopping — Coambs himself loves buying himself something new — he always looks for physical cues that he’s not overindulging.
“I want to be able to do it in a way that I don’t start to feel guilt or worry or [have] anxiety,” says Coambs. “If you have those things happening, psychologically, that’s a sign that something is out of balance."
Many Canadians are on the right path
For many Canadians who’ve indulged in a little revenge spending, the occasional spree shouldn’t knock them off track financially. That being said, there’s definitely room to grow for Canadians and their personal finances.
In fact, a study from The Angus Reid Institute in November 2024 reported that only 53% of surveyed Canadians are satisfied with their personal financial situation. If spending is getting in the way of you being satisfied with your finances, it might be time to make some changes.
What to do if your spending is getting problematic
While many are managing to strike a good balance, there are a few red flags to watch for that might indicate your habits are starting to threaten your financial security.
One of the first signs will be if you’re suddenly finding it hard to keep up with your monthly bills.
From a credit perspective, paying your monthly bills is critical. Missing or late payments will be a red flag for future creditors and make it harder for you to get everything from a new credit card to an apartment.
You can combat problematic spending by simply being intentional when you’re making purchases and adhering to a budget so you don’t overspend and end up unable to pay your bills.
“Just be mindful when you go to any checkout,” says Coambs. “Whether it’s digitally or in person, just look at the number and watch what happens to you psychologically — you’re going to have an automatic feeling.”
If your gut says you got a good deal, great. However, if you hesitate for any reason, maybe it’s a moment to reflect on whether this purchase lines up with your goals. Coambs encourages taking a walk to clear your mind.
It might sound simple, but he says the movement of putting one foot in front of the other is proven to help balance and stimulate reflection, It can help most people figure out what they need at that moment.
But Coambs adds that for some who have experienced trauma — especially family conflict around money — they’ll be especially prone to problematic relationships with money. Whether it’s creating a budget in writing or seeing a therapist, Coambs says a little help can make this problem much easier to manage.
“Building in the reflective process of looking at a budget and your spending can help you as you’re trying to find that happy medium of how much to spend,” says Coambs. “The reality is life is more complex and dynamic than our budgets lead us to believe it should be.”
2. The Angus Reid Institute: Great Expectations or Bleak House? Most Canadians are happy, but life outlooks have worsened over past decade (November 2024)
More than 80,000 Ontarians were unhoused in 2024, a number that has grown by more than 25% since 2022 — this according to a new study from the Association of Ontario Municipalities (AMO).
"The scope and scale of homelessness across Ontario’s municipalities is truly staggering," Robin Jones, AMO President, said in a statement. "Without real and meaningful provincial action, the quality of life and economic prosperity of Ontario’s communities is at risk. We can solve this crisis, but we need to work together."
Without significant intervention, the number of unhoused in Ontario could double in the next decade and reach nearly 300,000 people in an economic downturn, according to AMO.
Homelessness in Ontario
Of the 80,000 unhoused people in Ontario, more than half is considered to be chronically unhoused, meaning they experience prolonged or repeat episodes of homelessness.
Almost half of the chronically unhoused population in some communities are Indigenous, according to the report.
While the vast majority of the province’s unhoused population exists in urban centres in Southern Ontario, the homelessness issue is a province-wide problem. In fact, rural communities and communities in the northern areas of the province have seen significant increases in recent years.
In rural communities, homelessness has grown by more than 150% since 2016, compared to an average of about 50% across all communities in the province. Meanwhile, in Northern Ontario, homelessness has risen by an estimated 204% since 2016, more than four times faster than in southern Ontario over the same time period.
While the majority of those experiencing homelessness are adults, nearly one quarter of chronically unhoused Ontarians are children (0-15) or youth (16-24). Refugee homelessness has also grown more than 600% in four years, while the number of chronically unhoused immigrants has doubled in the same time period.
Ontario’s responsibility
Ontario is the only province where responsibility for social housing is deferred to municipalities.
Municipal funding for housing and homelessness programs has grown significantly in recent years, totalling more than $2.1 billion in 2024. However, AMO says that recent provincial investments represent just a fraction of what’s required, and do not truly help “already overstretched” homeless and shelter programs.
In response, the report suggests an estimated additional $11 billion over 10 years could end chronic homelessness by boosting the supply of affordable housing, improving transitional and supportive services and enhancing prevention programs.
As well, an additional $2 billion over eight years could largely eliminate encampments, the report says.
This study was conducted by HelpSeeker Technologies, in partnership with AMO, the Ontario Municipal Social Services Association and the Northern Ontario Service Deliverers Association.
With new mobile casinos being launched regularly, finding the best mobile casinos in Canada can be quite an overwhelming task.
Recent data indicates that nearly 20 million Canadians actively gamble online! And many of them do so using their mobile devices. We’ve ranked the top mobile casinos in Canada based on factors like game selection, banking options, bonus offers, and more.
We can already say that Spin Casino is the one that crushed our tests, taking the crown as the best online casino in Canada for its mobile site. But many other interesting options made it to our list.
Spin Casino offers the complete package for Canadians who want to join a top mobile online casino site. Its strong range of options includes favourites such as roulette games, while mobile players can download the Android or iOS app directly onto their preferred handheld device.
Game Selection: 4.9/5
There are nearly 400 slot games here, which is less than some other top Canadian online casinos, but it is a case of quality over quantity.
This site has all kinds of slots, so no matter your taste, you will likely find at least a few titles here that suit your fancy (and the site’s classic 3-reel slot selection is especially impressive).
We also found that there are 31 developers and studios on tap here, so the games will range from cartoonish titles like “Diamond King Jackpots” to more cutting-edge fare like “Assassin Moon.”
Blackjack and video poker are well-represented, too, and it could only get better if keno or bingo were added to the already extensive portfolio.
You will also find nearly four dozen live dealer casino tables at all hours of the day. In addition to stalwarts like roulette and blackjack, you will also find rarer games like “Dreamcatcher” in the live section.
Mobile Compatibility: 4.8/5
The site strongly focuses on mobile, as it has its mobile app for both iOS and Android.
You can even play the live dealer games on your phone or tablet, and you will get the same HD picture you would enjoy on your desktop. It is also possible to chat with other players and the dealer through your phone.
The interface is well laid out for mobile users, as the buttons are large enough to easily press while spaced out to reduce the risk of misclicks.
Banking Options: 4.8/5
Instant transfers from almost all Canadian banks are available here, so you can get up and running in no time at all.
While it is not yet possible to use Bitcoin or other cryptocurrencies to play here, users can opt for the following e-wallets like Neteller and Skrill, credit and debit cards, prepaid cards like Paysafecard and more.
And many more! With a minimum deposit of C$5, this CA gambling site caters to those who only want to spend a low amount of money in the online gambling world.
Overall Review: 4.9/5
While it obviously caters to Canadian mobile bettors, this is a truly international gambling site and hosts players from around the world. This site supports a variety of languages, and you will likely be rubbing elbows with players from many other countries at the live tables.
Spin Casino also has a “play check” feature that lets you access your entire gambling history, including the games you played, whether you won or lost, etc. It is a great way to track which games you’re best at – and which ones you should probably avoid.
The fact there is a variety of promotions at Jackpot Frenzy immediately catapults the site into the discussion as one of the best mobile casinos in Canada. Add in the fact that this site offers a huge variety of games; Jackpot Frenzy is truly a site to be reckoned with.
Game Selection: 4.7/5
It is hard to pick faults with the game selection at Jackpot Frenzy, which boasts a range of games from various different developers, including top names such as Pragmatic Play, Nektan, Microgaming, Playtech and Evolution Gaming.
There are so many online slots here, and the jackpot selection is excellent. Players can find jackpot games up to ten figures. This includes both progressive and fixed jackpots.
Live dealer casino games are also available, including options like Card Games, Poker, Baccarat, LeoVegas Exclusive and Game Shows. Blackjack is well-represented here, too, of course.
There’s also an advanced search function that makes it easy to wade through the hundreds of games and find the exact one that matches your mood or preference.
Mobile Compatibility: 4.8/5
Jackpot Frenzy has made its websites applicable for handheld internet browsers; by replicating the desktop page, players can bet and enjoy without getting lost and confused.
There’s an app for both Android and iOS users, so you can play on the go regardless of what kind of phone or tablet you own. The live casino games work well on mobile devices.
Banking Options: 4.7/5
Jackpot Frenzy’s payment methods include options such as Neteller, Visa, MuchBetter and Paysafecard.
Unlike many online casinos, the site goes out of its way to ensure that players understand the terms and conditions of each deposit option. You can read more about each deposit method so you can learn about potential fees, processing times, how to use them, and more before you put any Canadian dollars down.
Overall Review: 4.8/5
Jackpot Frenzy has proved itself to be one of the best mobile casinos in Canada; the site has done this in multiple ways, including offering a range of mobile-compatible bonuses, payment methods, games, customer support and loyalty programs.
Hellspin has too many casino games to count. Poker lovers will enjoy the fact that their favourite games are available to play at this fantastic Canadian poker site, and there is a range of bingo and slot games to play as well.
Many of the players who come to Hellspin do so for the poker room or sportsbook, however. There’s plenty of action on the poker tables at all times of day, and on top of this, players can find a variety of related bonuses.
Mobile Compatibility: 4.7/5
A huge advantage to Hellspin is its iOS and Android apps, which can be used for any of your betting desires; players can download Hellspin apps, which are sports betting, games (which include casino, slots and table games) and live casino apps.
While many sites have fewer games for mobile than the desktop versions, Hellspin has its full library available – and it actually offers a few slots that are mobile-exclusive.
Poker players will have access to the full suite of games and tables, including Age of the Gods Twister, Twister Sit & Gos, and Hold’em Cash Games.
Banking: 4.7/5
This site has a range of payment methods available, much like the other best online casinos in Canada that offer mobile gaming. Some of the payment methods players can choose from are the following: Visa, Mastercard, ApplePay, ecoPayz, Paysafecard and Bank Transfer.
Some of the above payment methods may be used for both deposits and withdrawals. Each method has its own processing time, so please keep this in mind.
Overall Review: 4.8/5
Hellspin is one of the best casinos you’ll find on the internet; having been in business since 2000, with 20+ years of experience, it is no wonder why Hellspin is so well-loved. At Hellspin, players can also find a variety of customer support options.
Pros ✅
Cons ❌
Generous welcome bonus
A wider range of games
Wider range of games
24/7 customer support
4. Dolly Casino – Best Game Selection of Mobile Casino in Canada
Expert Rating: 4.7/5
Dolly Casino Features
Rating
Game Selection
★★★★★
Mobile Compatibility
★★★★☆
Bonuses and Promotions
★★★☆☆
Live Casino Software
★★★☆☆
Payment Methods
★★★☆☆
User Experience
★★★★☆
VIP Rewards
★★★★☆
Customer Support
★★★★★
Full Dolly Casino Review
Dolly Casino is among the world’s most famous online casinos. Boasting a huge library featuring over 4,000 different games, customers here will always have options.
Game Selection: 4.9/5
Dolly Casino has more slot games than almost every other top Canadian online casino out there, with thousands to try out. New titles are also added regularly to give users a reason to keep coming back to the site (and new slots have their own section, so they are easy to find).
The casino makes it easy to pick a game as well, as each title has plenty of information provided up-front, like the type of slot, software developer, and more.
To be fair, it is easy to pick a game because of the several well-spread categories. There are so many slots here, but they are all perfectly organized.
Many of its games are exclusive to the site, so you will find things here that you can not get anywhere else. This site also has exclusive jackpot slots and daily jackpots that fall daily. Players can also find traditional tables, live casinos, arcade games and dice games.
Mobile Compatibility: 4.7/5
Android and iOS users can download the Dolly Casino mobile app onto their devices, and it looks and works great.
The mobile version offers all of the same great features and games players can find on the desktop version. When using the mobile app, players will enjoy the smooth interface, fast loading time and top-quality software. This casino has also been known to offer mobile-specific bonuses.
Banking: 4.7/5
Users have 18 banking options here; these are Interac, Mastercard, Neosurf, Payz, MiFinity, MuchBetter, eVoucher, Flexepin, eZeeWallet, Jeton, Litecoin, BitcoinCash, Bitcoin, USDCoin, Tether, Ethereum, Ripple and DAI.
The verification process happens after your first deposit or on withdrawal, a small price to pay for security. As usual, you must send a copy of a proof of address and your ID document.
Overall Review: 4.7/5
Dolly Casino is licensed by the Curacao eGaming Regulatory Authority, which has some of the most stringent requirements of any regulatory agency in the Internet gambling world.
Pros ✅
Cons ❌
Over 4,000 games to try
Limited support contact options
Regular tournaments
Range of banking options
Games from leading providers
5. iWild Casino – Best Mobile Casino in Canada for User Experience
Expert Rating: 4.8/5
iWild Casino Features
Rating
Game Selection
★★★★☆
Mobile Compatibility
★★★★☆
Bonuses and Promotions
★★★★☆
Live Casino Software
★★★☆☆
Payment Methods
★★★☆☆
User Experience
★★★★☆
VIP Rewards
★★★☆☆
Customer Support
★★★★☆
Full iWild Casino Review
iWild Casino is a strong contender to be named the Canadian mobile casino, with an excellent welcome bonus, and the range of games is among the top reasons to sign up and play here.
Game Selection: 4.8/5
There are around 6,000 games available to play at iWild Casino, which includes a huge range of slots. The best thing about this range of games is that they are all high-quality.
Players can find a range of tables, tournaments and jackpot games if they want to try something different.
The live dealer selection is nothing to turn your nose up at, either. There is a range of games; this section includes blackjack and baccarat, poker, roulette and game shows. You will also find “MONOPOLY Live” and “Deal or No Deal” here.
The live casino games on this site come from top software providers such as Evolution Gaming, Ezugi, Amusnet Interactive, Lucky Streak, and Bet Games TV.
Mobile Compatibility: 4.7/5
iWild Casino understands that playing on a phone is preferred by many online bettors, which is why players can find an iWild Casino app which can be downloaded on both iOS and Android devices.
The mobile app has all the same top-quality features that players can find on the desktop version of the site. This includes a range of games, promotions, payment methods, and customer support options.
Banking: 4.8/5
Most Canadians will be happy with over a dozen payment methods to pick from here, with the usual suspects such as Visa, Skrill, Neteller, MasterCard, and Interac.
You can also deposit and withdraw directly from your mobile device, so you do not have to wait until you get home to top off your account.
Overall Review: 4.7/5
Many of the games here can be played for free, so you can get the hang of a new title without putting any money at risk first.
This is also a great way to get the thrill of the new slots and discover which fancy features the site offers.
Sports fans in Canada who also want to play casino games should definitely consider iWild Casino — a top sports betting site which sits side by side with hundreds of casino games. Players can choose from poker, bingo, slots and live casino games.
Pros ✅
Cons ❌
Choice of 14 banking methods
Extensive T&Cs
More than 300 games in the live casino
Generous welcome offers
Range of slot and table games
How We Ranked the Best Mobile Casinos in Canada
Game Selection:
Having a wide range of titles to play helps to stave off boredom and ensures that you will be more likely to find a game you enjoy. When ranking the best online casino sites in Canada, we prized sites with many different games on tap.
Casino Bonuses:
There is no bonus as sweet as extra credits, and every Canadian online casino has a deposit bonus or other rewards program of some kind. Some offer more free spins (or have fewer strings attached) than others.
Mobile Compatibility:
Life is not always exciting, so if you are stuck at a doctor’s office or on a bus, you may want to liven things up by visiting a few mobile casinos. Any site that took the time to optimise its mobile experience got top marks from us.
Banking:
The last thing you want is an online casino that makes it a hassle to get your money on and off the site, so look for one that supports various banking options. Quite a few casinos are moving towards accepting cryptocurrency as well, but finding one that accepts Bitcoin is still a rarity, so those sites earned bonus points here.
Overall:
Every Canadian casino has a little special something that sets it apart from the competition, and we took those things into account as well. This could be anything from special licensing to world-class customer support, but if a site is special in a way, you can bet we included it in our analysis.
How to Sign Up at the Best Canadian Mobile Casinos
Only some people have experience playing at a real money mobile casino. To these people, it can seem as if signing up for an account at the best gambling site might be a tricky process.
It does not need to be that way. To create an account at the greatest online casino in Canada, simply follow our step-by-step instructions.
Step One: Go to the Casino Website
Visit the chosen Casino website to start the registration process.
Enter the required information, such as name and email address.
Read any relevant terms and conditions or privacy policies.
Step Two: Check Your Email Account
Go to the email address you entered and look for a message from the casino.
Check the spam folder if it doesn’t appear in the primary inbox straight away.
Open the email and tap on the link inside to confirm the creation of an account.
Step Three: Make an Opening Deposit
Head to the casino site’s cashier to make the first deposit into an account.
Pick from the range of payment methods available and enter the requested deposit.
Follow the on-screen instructions to proceed with the process of making a deposit.
Remember to add a deposit bonus code to get a welcome promotion if desired.
When the deposit goes through, enjoy playing your favourite CA online casino games.
Get Ready to Play at the Best Mobile Casinos in Canada!
Choosing from the top mobile Canadian casinos might be difficult for newbies, especially because there are so many options available.
Our database contains the best mobile casinos in Canada for online slots, poker, bingo, and other games; nevertheless, players may wish to try out a few of them by playing games in trial mode before making a deposit.
You do not have to believe us when we say that Spin Casino is the best because of its great assortment of games and bonus offers. There is no reason not to register with a few of the casinos on this list to determine which one best suits your preferences.
Remember, there is no reason to deny yourself the enjoyment that comes with playing at an online casino.
DISCLAIMER: We would like to emphasize that gambling is risky and should not be used to resolve financial difficulties. The saying “the house always wins” is worth keeping in mind.
If you or someone you know has a gambling problem, we firmly advise you to call the Gamblers Anonymous at 1-626-960-3500 to speak with an expert about getting assistance and making gambling safer for you or your friends and loved ones. Remember that all gaming websites and instructions are intended for people aged 19 and above.
Some of the casino sites featured on our site may not be available in your location. Check your local regulations to see if Internet gambling is permitted in your area.
Check out the following organizations for free gambling addiction resources:
Contrary to what dishonest players may think, Canadian online games are not rigged to favor the house. To guarantee that each card flip and reel spin is fair and random, the top online casino games employ a random number generator.
Can I Play Mobile Casino Games for Free in Canada?
Yes, you can use the free demo option at Canadian casinos to play for free. This allows you to play games without having to worry about winning or losing. Not all casino websites offer this feature, so be sure to visit the website first.
Are Fees Charged on Deposits and Withdrawals at Canadian Mobile Casinos?
Although there are often no fees associated with deposits or withdrawal at Canadian casinos, players should be aware that they may incur fees from their banks or payment processors when they exchange currencies. To find out what is needed, be sure to review the terms and conditions online.
What Is the Smallest Deposit at Mobile Casinos in Canada?
Different casinos may have different deposit requirements, particularly when it comes to promotions. Although the minimum deposit amount at a casino is often $10, this can vary, so you should always review the terms and conditions before making any deposits. Click here for additional details.
What is the Best Mobile Casino in Canada?
According to our analysis, Spin Casino is Canada’s top online casino. The whole experience, the easy registration procedure, the substantial welcome bonus, the choice of payment methods, and availability of online slots, was the victor.
While there isn’t much scientific merit behind the reasoning why, there are a few factors that make it feel like an accurate term. The cold weather might prevent you from going outside and enjoying the (little) sunlight there is, plus the holiday bills start rolling in.
As you grapple with the season, you may be feeling the weight of your financial situation. Maybe you have greater credit card debt than you thought. Did you overspend on holiday gatherings and now that’s catching up to you?
According to Equifax Canada, in Q3 of 2024, non-mortgage consumer debt rose to $21,810 per person, a rise of $796 from the same time in 2023. Additionally, combined credit card debt saw a year-over-year increase of 9.4%, which can be attributed to population growth and an increase in average balance for consumers unable to pay their balance in full.
If the lingering anxiety of holiday bills is adding to your Blue Monday doldrums, here are some strategies you can employ to help you from sinking even further.
Take account of your income
If your income is lower or equal to your expenses, then you don’t have any room to pay off your debt. You will need to seriously consider a new job, and maybe even taking on a side hustle while you look for one. While your income remains low, you will need to be strict with any non-essential spending and ensure that the money you’re bringing in is being allocated to necessities such as rent.
If you are in a situation where your income allows you some room for non-essential spending, you may still feel like it’s difficult to set money aside to clear off debt.
However, small changes to your daily habits can have a big impact. If you get takeout a few times a week, you can cut it back to a few times a month, or even cut it out entirely, and put the money you would have spent straight to your debt. These small steps can quickly lead to hundreds of dollars saved over the course of a few months. The important part is to follow through and apply those savings to your debt.
If you aren’t able to forge a path out of debt on your own because of high interest rates, or your inability to service the debt based on increasing gas and food costs, that may be a sign to seek help.
The strategy you use to get out of your debt will depend on your particular situation.
Before you can come up with a plan of action, it is important to understand how your personality impacts your relationship with money and debt.
For example, if you’re generally a cautious person, you may have little debt to begin with. You’ll also be focused on getting rid of your debt as quickly as possible.
If you’re more of a risk-taker, you may find yourself willing to assume more debt — from investments or other expenses — with the potential for a greater payoff. However, that tendency can also put you at higher risk of getting in financial trouble.
Emotional spending is also a common habit that can be hard to control. Retail therapy, or spending money on yourself, can provide quick hits of endorphins that provide a pleasurable fix. But making purchases as a way to make you feel good can also have long-term repercussions.
If you’re an emotional spender, figuring out the source of your spending issues can help address it in a healthier way. Talking with a financial advisor can help you through this by focusing on attainable methods to get your spending under control.
Envision your future
Creating a long-term goal creates an end game that can help you stay focused and motivated.
Envision what your life is going to be when you no longer have that debt hanging over you, and make choices each day that are consistent with the journey you need to take to get there. Not only will you find yourself making progress towards your financial goals, but you might also find yourself feeling confident and in control.
For instance, if you envision yourself eliminating $500 of your debt in one month, this gives you a tangible objective to work toward. By identifying a goal, and recognizing how you’ll feel when you accomplish this, you fuel yourself to achieve your objective.
Don’t forget to give yourself some grace as you adjust your spending habits to a new reality and focus. If you don’t meet your goal, acknowledge the progress that you make and continue to build on your successes. If you only pay off $300, realize that you still reduced your debt, even if only a little, rather than adding to it.
Try either of these two debt conquering methods
Getting over the hump of Blue Monday is a challenge. With the cold, dark days of winter, you might feel particularly drained as you look at your debt load.
Using the snowball method, you pay off your smallest debt first, while only paying off the minimum monthly amount on your other debts. Once the smallest debt is paid off, you start paying off the next. Gradually, all your debts will be paid off in full.
With the debt avalanche method, you tackle the debt with the highest APR first, and pay only the minimum amounts on the others debts. With this method, you ensure that you don’t continue to throw a penny more of your hard earned money than you need to on interest, rather than the principal amount of your loans.
The method of tackling debts that makes the most sense for you will depend on multiple factors that should be considered and weighed before you start on the path to debt repayment. But, with the right guidance and drive, you can get your debt in the rear view sooner than you think.
Consider talking to a company like Credit Canada to create a consolidation plan, or go to your bank to get a lower interest loan, to start your year with a plan in place.
Bottom line
Your financial debt doesn’t have to be crippling, and Blue Monday doesn’t have to colour your year. You can forge a new path this year and get your debt under control and create new habits that will prevent you from feeling the weight of being in debt.
Devise a plan — whether on your own or with the help of an advisor — and stick with it.
