Author: Oskar Malone

The economic uncertainty caused by President Trump’s repeated threats of across-the-board tariffs on Canadian imports, alongside our nation’s retaliatory response, has been negatively impacting the Toronto Stock Exchange (TSX).

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.

Like it or not, the reality is that tipping is an important part of how service workers are able to earn enough money to try to make ends meet in Canada. While an H&R Block survey reveals strong support for tipping culture, there is not only a sense of fatigue among Canadians, the survey reveals 47% don’t know that tips are taxable income.

"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.

Invest, invest, invest! That’s the advice that we always hear when it comes to growing wealth.

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.

Mark Spitznagel wasn’t surprised when USD$6.4 trillion was erased from global stock markets this past August.

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.

Canada faced one of its most expensive years for insured losses in 2024, with severe weather wreaking havoc on both homes and businesses. While homeowners bore the brunt of the damage, commercial properties also suffered massive losses, pushing the total insured damages to over $1.7 billion — the second-highest in the country’s history.

"Thousands of businesses felt the impacts of severe weather last year. The historic amount of damage in 2024 underscores the escalating financial risks Canadian businesses face from catastrophic weather events," Liam McGuinty, vice-president of strategy at the Insurance Bureau of Canada (IBC), said in a statement.

"Canada’s insurers have been on the ground since these events took place and continue to assist businesses across the country with financial support and navigating the recovery process. These severe weather events have caused not only physical damage, but have also disrupted business operations, supply chains and the flow of goods and services in the Canadian economy.”

The vast majority of commercial losses in 2024 occurred over the course of 24 days during the summer, when wildfires, floods and hail storms ravaged communities across the country.

The costliest events of 2024

The costliest weather event in 2024 for commercial insurance was the wildfires in Jasper, Alta., standing at $650 million. The municipality was hit the hardest and accounted for nearly 40% of extreme weather losses to commercial property in 2024.

Next was the remnants of Hurricane Debby across Eastern Canada at $360 million, the Calgary hail storm at $280 million and the Ontario and Greater Toronto Area flash floods at $190 million.

Since 2010, over 132,000 businesses in Canada have suffered damage and filed insurance claims due to extreme weather events, according to Catastrophe Indices and Quantification.

History of commercial insurance losses in Canada

Last year, 2024, is only behind 2016 as the costliest year for commercial insurance, thanks to the Fort McMurray wildfires in Alberta which totalled $1,918,420 in losses. 2013 is third, with $1,720,028 in losses primarily thanks to the Southern Alberta floods and GTA floods.

Rounding out the top five is 2022, with $945,632 in damages attributed to Hurricane Fiona and the derecho in Ontario and Quebec; and 2020, in which Prairie hail storms caused $782,183 in commercial losses.

"Canadian governments must move swiftly to make targeted investments in infrastructure that defends against floods, improve land-use planning rules that ensure homes and businesses are not built on flood plains and that FireSmart best practices are followed in communities in high-risk wildfire zones,” said McGuinty.

“These actions would not only protect the physical assets of the businesses that are at highest risk, but would also safeguard the broader community, contributing to a competitive, responsive and resilient commercial insurance market that provides solutions for businesses.”

This article Last year was among the costliest for commercial insurance lossesoriginally appeared on Money.ca

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

Elbows up, Canada! Canadians from coast to coast are coming together in solidarity to fight back against the trade war US President Donald Trump started and continues to escalate. From where we buy to what we buy, we as a nation are seeking ways to ensure the products we are buying are homegrown.

The ‘Buy Canada’ movement has been gaining momentum and Reddit users are using the opportunity to crowd source the ability to take this movement one step further, and encouraging and inspiring fellow citizens to support Indigenous-owned businesses.

Buy Canadian and buy Indigenous

This movement is picking up steam on Reddit, especially in communities like r/BuyCanadian, where people are coming together to support the cause. Members are sharing recommendations, resources and their favourite Indigenous-owned businesses, creating a powerful collective push to uplift these entrepreneurs.

The value of crowd sourcing on Reddit

Reddit user u/SirCharlesTupperBt emphasized the value of Buy Canadian initiatives such as this, stating, "a lot of this info is out there, but I think many Canadians are just starting to figure out where they can shop that doesn’t involve Amazon or other US based ecommerce. Anything that raises the profile of businesses that keep money in our communities is awesome!”

We’ve put together a curated list of Indigenous-owned businesses across Canada what were recommended by Canadians on Reddit, for Canadians, each offering unique products that reflect their rich heritage.

Buy Indigenous

Looking for some snacks and drinks? There are Indigenous sources for that. U/Sunwinec recommends 392 Pepper Company from Kahnawake. “Amazing hot sauces and the best spicy salsa and tortilla chips you’ll ever eat!”

U/quidamquidam rounds out the snack. “Also in Kahnawake: Kahnawake Brewing Co has solid beer.”

If you’re not feeling for a beer, U/YaldabothsMoon has a tea you should try. “Going to put a plug here for Boreal Delights / Délice Boréal teas. Indigenous owned and operated and they make some of the most delicious herbal teas (teabag mind you) I’ve ever had. Blows DavidsTea out of the water.”

Reddit user u/CurvyAlthete is doing their part, saying they are replacing their American make up with Cheekbone, an Indigenous-owned beauty brand that makes sustainable beauty products.

Even your furry friends can be a part of the “Buy Canadian” Buy Indigenous movement. U/Bitter-Air-8760 shares “Shades of Grey is an indigenous dog treat company here in Ontario. They make natural dog treats from rabbit, beaver, venison etc. I have been using these products for a couple of years and my dog loves them."

Reddit users throughout the post shared other brands they deem worth checking out if you’re looking to Buy Canadian and also support Indigenous businesses, including:

• Outlier Leather Co. – Outlier is a style brand founded and operated by David Spence, a Nisichawayasihk Cree (Treaty 5) entrepreneur. Born in Winnipeg, MB, raised in BC, and now based in Toronto, ON, David personally handcrafts each Outlier product.
• Resist Clothing Company – An Indigenous-owned streetwear brand based in Sagamok First Nation and Toronto. Their designs highlight Indigenous culture and activism.
• Birch Bark Coffee Company – First Nations-owned coffee brand offering organic and Fairtrade coffee while supporting Indigenous communities with access to clean water.
• Wabanaki Maple – Indigenous female-owned business specializing in maple syrup with a deep cultural and historical connection.
• Indigenous Box – A subscription box service connecting Indigenous entrepreneurs with consumers, founded by Mallory Yawnghwe.

And Reddit user u/OldLogger has been doing their own curating of Indigenous-owned business, with a focus on manufacturing. They have compiled a list that includes over 340 Indigenous manufacturers.

Coming together to support each other in tariff time and always

When Canadians choose to Buy Canadian, and specifically, to support Indigenous-owned businesses, they’re not just helping these businesses thrive — they’re also celebrating the diverse cultures that make up this country. In the wake of the US tariffs, now is as good a time as any to consider replacing American companies you typically turn to, with Indigenous entrepreneurs’ alternatives.

As this movement continues to grow, it is a valuable reminder of the importance of being thoughtful in our buying decisions and how each of us can help build a more inclusive and fair society while supporting local businesses.

Through platforms like Reddit, communities can come together to share knowledge, resources and support, creating a ripple effect that benefits all.

The bottom line

The initiative led by Reddit users to support Indigenous-owned businesses is a testament to the positive change that can occur when communities unite for a common cause. By highlighting and patronizing these businesses, Canadians are turning to each other to support each other and our country.

We’ll leave the last word to Reddit user u/gohabs31, an American who is watching us come together as a nation.

"This [Buy Canadian] subreddit keeps getting recommended to me so I’m perpetually an observer, as I’m an American. I just want to say I love you guys and I’m truly jealous of how well you all seem to come together in the face of adversity."

Sources

1. Reddit: Buy Canadian subreddit

2. Reddit: Buy Canadian: Support the indigenous people and their businesses too! (March 12, 2025)

3. 392 Pepper Company: website

4. Kahnawakey Brewing Company: website

5. Northern Delights: website

6. Cheekbone: website

7. Shades of Grey: website

8. Outlier Leather Co.: website

9. Resist Clothing Company: website

10. Birch Bark Coffee Company: website

11. Wabanaki Maple: website

12. Indigenous Box: website

13. manufacturedin.ca: website

This article Reddit users unite to champion Indigenous businesses in the wake of US tariffsoriginally appeared on Money.ca

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

Being a renter can be frustrating, especially in a city like Toronto, where rent prices increased significantly over the past five years.

That being said, a December 2024 report from Rentals.ca found that rents declined 9.4% annually in Toronto for apartment and condo listings, revealing a glimmer of hope for those looking to relocate to or within the city.

For Torontians looking to move, this is great news. But, while the stats are enticing, it’s important to take a look for yourself and see what’s out there. Lucky for me, this big drop in rent prices coincided with my own apartment hunt, so I was able to get up close and personal with the current renter’s market before I signed a lease.

Average Toronto rent prices

As of February 2025, the average asking rent in Toronto for a one bedroom apartment was $2,370, $3,081 for two bedrooms and $3,633 for three bedrooms, according to Rentals.ca.

The past month, I’ve been on the hunt for a two bedroom apartment, so my personal experience exploring the market is shaped by those parameters.

Rents have gone down, but what kind of places are actually out there?

In looking for a new apartment to call home, I attended at least 20 showings. Among them there were definite no’s, plenty of maybe’s and a handful of yes’ worth applying for. The places I viewed ranged from as low as $2,400/month and as high as $3,000/month. Their prices varied depending on size, location, number of bathrooms, utilities and non-essential features, like balconies.

Here are some standout things I noticed (both positive and negative) while looking for an apartment in Toronto:

There are hidden costs

While some apartments seemed pretty affordable up front, there was more than meets the eye in terms of the asking rent price in the listing. When I went to view some units on the lower end of the price spectrum, I was met with additional costs that were not mentioned in the listing. Sometimes this would include utilities that weren’t included in the rent price, coin laundry fees and internet. One unit I saw charged $65/month for an in unit laundry machine, which made the place an immediate no for me.

If you’re looking to rent a parking spot, this is typically another additional fee for the units that have them. While one apartment I saw included a garage parking spot free of charge, most that had available parking spots charged $80 to $150/month for them. Even if you opt for street parking, you’ll be paying around $30/month for it, so it’s worth keeping that in mind when determining your budget for a new apartment.

Having outdoor space is a real possibility

Green space is certainly not the first thing you think of when you envision living in Toronto. That being said, many of the units I viewed did have some sort of outdoor space available — though it was more grey than green.

Whether it be a shared backyard with other units, a porch or a balcony, it is possible to find a space to enjoy fresh air in a Toronto apartment.

You can’t always trust photos

The photos in apartment listings are varied. Some are likely professionally done, and others are definitely not. That being said, it is often worth it to check out the places that don’t have the best photos — so long as their description and price is right for you — as you truly can’t know what to expect until you see the place. Many blurrily-photographed places ended up being top contenders in my apartment hunt, and some that looked nice online turned out to be quite dingy.

More square footage isn’t always better

Having ample space in your apartment is ideal, but it’s worth noting that sometimes the higher square footage may be due to an unconventional layout. For instance, I saw a lovely apartment that was great on paper, but had no storage space and its only bathroom was in a windowless basement corner. Unfortunately, the pretty stained glass windows and cute front porch weren’t enough for it to be worth it.

Getting an edge as a renter

With all these factors in mind, I was able to find an apartment that was the right fit for me. And after going through this process, I’ve also come to gain some insight on what it takes to have an edge as a prospective tenant.

Be ready to apply

Most apartment applications require the same basic components — a credit report, job letter, references (both from personal connections and prior landlords) and proof of income, like a payslip.

When you are ready to start applying for apartment rentals, it’s best to have everything prepared so you can be first in line for units that you’re interested in.

See as many places as possible

While it is a tiring process, seeing as many places as possible can help you have a better idea of what types of units are out there, and what you can use as leverage for places you’re interested in.

Practice your negotiation skills

In an interview with CBC, Errol Paulicpulle, a real estate agent with Harvey Kalles Real Estate, shared that there are more rental properties available than there were a year ago. With that in mind, renters are not holding back from negotiating when making offers on apartments, so you should definitely consider amping up your negotiation skills to ready yourself when making an offer.

Paulicpulle told CBC: “The tenants who are moving in are asking for more things … Both sides have sensed that there’s a change in the market. The tenants have sensed that they have a bit more leverage and most of the landlords have sensed that they need to be a little more flexible."

I was able to knock $150 off the asking price for the apartment I just signed a lease on, and it didn’t take much haggling.

Know your rights

Above all else, knowing your rights as a tenant is one of the best ways you can be prepared when looking for an apartment. This can save you a lot of strife down the line and ensure you have a keen understanding of what is legal when it comes to the state of the apartment you want to rent, the details of the lease and future rent increases. Consider brushing up on the Ontario Residential Tenancies Act so you can be prepared to stand up for yourself as a renter.

It’s a renter’s market, so find what’s best for you as a renter

If you’re a renter in Toronto, now is the time to take advantage of lower rents and find the best unit for you. Who knows, maybe you can negotiate a lower price and tuck the money you save on rent into savings to buy a home in the future.

Sources

1. Rentals.ca: December 2024 Rentals.ca Rent Report (Jan 13, 2025)

2. Rentals.ca: March 2025 Rentals.ca Rent Report

3. CBC: Rents dropping for apartments and condos in Toronto, experts say (Jan 6, 2025)

4. Government of Ontario: Residential Tenancies Act

This article Toronto rents have dropped 9.4% — here’s what the current renter’s market looks like from a renter’s P.O.V.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.

If you’ve ever tried and failed to stick to a budget, the problem may not be with you but with your budgeting strategy. Different forms of financial management suit some personalities better than others — select the wrong one and you could find it difficult to stay on track.

The different money personality types

To help you create a budget that works for you, we’ve outlined the five most common money personality types — Spender, Saver, Earner, Ostrich and Sharer — and suggested the ideal budgeting technique for each.

#1. Best budget for the Spender personality type

If you’re a big believer in “YOLO” and shopping therapy, you may be a Spender. Other signs are:

• Money burns a hole in your pocket; you spend it as soon as you have it
• Buying stuff makes you feel great
• You put current wants ahead of future needs
• You may continue to spend even if it lands you in debt
• You don’t have much in savings or investments

Objective

Your spendthrift ways leave you vulnerable for the future, so you need a system that prioritizes long-term savings (and debt repayment, if necessary) and gives you a strict spending limit.

Best personal budget for you: Pay yourself first

Pay yourself first, also known as a reverse budget, is a good option because it takes savings out of your bank account as soon as you’re paid – before you have a chance to spend it.

By scheduling automated transfers to an emergency fund, RRSP or credit account (if you’re trying to pay off debt), you make savings a top priority. Then you can use the rest of your income for bills and other spending.

Bonus budgeting tip

You could also consider using an investment app such as Moka, which allows you to set small weekly investments into the best money compounding market, the S&P 500.

#2. Best budget for the Saver personality type

If you think a dollar saved is better than a dollar earned, you may be a Saver. You may also:

• Have more than enough set aside to meet both short- and long-term goals, but continue to save beyond that
• Find it painful to part with money
• Avoid paying full price on necessities and reject discretionary spending of any kind
• Need the security of a large nest egg to feel safe
• Don’t like to carry debt; you might even pay off your mortgage early

Objective

There is such a thing as too much saving. Money is a means to an end, not an end in itself. You need a system that will help you feel secure, but also encourage more spending where appropriate.

Best personal budget for you: 50/30/20 budget

Try the 50/30/20 budget, which divides your net income into three areas: 50% goes toward needs (any fixed expense, such as groceries, housing, transportation, insurance and other living expenses), 30% goes toward wants (e.g., variable expenses, such as restaurant meals, entertainment, vacations, tech toys, etc.) and 20% is for savings and debt repayment (such as credit card debt, student loan repayment).

Clearly, you’ve got that 20% covered. This budget will show you exactly how much more income you could be spending on your needs and wants, so you can hopefully be coaxed into enjoying your money without feeling guilty that you aren’t saving enough.

Bonus budgeting tip

A cash back app like Avion rewards might also help you feel better about spending, as it automatically rewards you with cash back for eligible purchases.

#3. Best budget for the Earner personality type

If you measure success by income level, you could be an Earner. You may also:

• Get satisfaction from the amount of money you earn, regardless of whether you spend or save it
• Have a plan for career advancement and financial achievement
• Be a workaholic
• Take pleasure in knowing that your income is higher than that of your peers
• Monitor your investment accounts closely because you enjoy watching your assets grow

Objective

While you know exactly how much money you’ve got coming in, you may not pay much attention to what’s going out. So, you need a comprehensive system that not only shows you where all those hard-earned dollars are going but also ensures you’re devoting enough resources (including time) to non-work pursuits.

Best personal budget for you: The zero-based budget

The zero-based budget is right on the money because it accounts for all your income earnings. Use a budget spreadsheet or a budgeting tool, such as YNAB, to log amounts for all your expenses, debt payment, purchases, savings, investments and charitable contributions.

Properly done, every dollar of your income will have a designated purpose, without any money left over at the end of the month. You’ll see whether you’re on track for retirement and any other savings goals, and what areas of your life you might be ignoring, say, like vacation spending.

#4. Best budget for the Ostrich personality type

If you typically ignore your finances because it stresses you out, you could be an Ostrich. You might also:

• Leave pay stubs and account statements unopened
• Miss payments or go into overdraft/debt because you’re not paying attention
• Disregard prices when shopping
• Think money management is too hard to learn
• Tell yourself you’ll save “eventually”

Objective

You need a simple strategy that will force you to consider what things cost and if you can afford them.

Best personal budget for you: The envelope budget

Try the envelope budget, which takes a cash-based approach to money management. It’s easy to follow; at the beginning of the month (after your rent/mortgage payment comes out of your account) you withdraw cash and divide it into separate envelopes for various categories such as groceries, gas, entertainment, debt repayment and savings. When an envelope is empty, that’s it-you can’t spend any more in that category until the next month.

Bonus budgeting tip

Obviously, you’ll need to put away your credit cards if you want this budget to work. Better yet, use a prepaid card like KOHO, which lets you transfer money onto a Prepaid Mastercard® that you can use for purchases in person or online without any chance of overspending. Spending and transaction insights and budgeting tools are also available with KOHO.

If you want to ramp up your savings slowly, consider doing the 52-week money challenge.

#5. Best budget for the Sharer personality type

If you think it’s better to give than to receive-but also put giving ahead of saving and spending on yourself-you’re probably a Sharer. You might also:

• Value others’ financial health above your own
• Offer loans or financial gifts to help friends or family, even if it means you go without
• Rarely shop for yourself
• Put all your extra money and time into helping others, including charities and community groups
• Have little in savings, because you give so much away

Objective

You need to take care of yourself if you hope to be there for others in the future. That means putting away enough for retirement savings and emergencies first; then you can give to your heart’s content.

Best personal budget for you: The values-based budget

The values-based budget is perfect for anyone who finds joy through a specific use of money – whether that be travel, a hobby or helping others. It’s similar to the pay-yourself-first strategy, in that you start by making sure you’re putting enough away in an emergency fund and retirement savings and you’ve got your living expenses covered.

Then look at what’s left over, how you’re spending it and whether that makes you happy. Any costs that “don’t matter” to you should instead be used to pay for what you value.

Find the right budget for you

The above budgets aren’t mutually exclusive — feel free to mix and match as appropriate. After all, you may find that you are a hybrid model of the above money personalities: a “Saver-Earner,” for example, may want to use the 50-30-20 budget as well as a budgeting app to keep them on track. Whatever works for you is the way to go.

This article How to make a budget that fits your money personality type 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.

Chapman’s Ice Cream has been a staple in grocers’ freezers for almost a half a century and the Ontario-based creamery has stayed proud of and true to their origins as one of the favourite ice creams of Canadian families. The recent trade war with the US is no exception.

In response to US tariffs on Canadian dairy products, Chapman’s Ice Cream has chosen to absorb the increased costs rather than pass them on to their loyal consumers, underscoring the company’s dedication to providing affordable products despite economic challenges.

A history of resilience

Founded in 1973 by David and Penny Chapman in Markdale, Ontario, Chapman’s began with just four employees and two trucks. Over the decades, it has grown into Canada’s largest independent ice cream manufacturer, offering over 280 frozen treats, including premium ice cream, frozen yogurt, sorbet and novelties, like ice cream cones and sandwiches.

Though the company has never left Markdale, Chapman’s faced a real threat to his future in 2009 when a fire destroyed its production facility. In response, Chapman’s opted to rebuild in Markdale with a state-of-the-art facility, aptly named Phoenix. The new facility is nearly double the size of the original plant, and still serving the community in which Chapman’s was founded.

Supporting employees during COVID-19

The trade war facing Canada isn’t the first giant hurdle the Chapman’s business has had to navigate. During the COVID-19 pandemic, Chapman’s prioritized employee well-being over their bottom line. In March 2020, they implemented a $2 per hour pandemic pay increase for production and distribution workers. This increase was meant to be temporary but in true Chapman’s form, they once again chose their employees over money.

By October 2020, the temporary pay boost became permanent, setting the starting wage for production employees at $18 per hour. Additional benefits included a comprehensive health package, a company-sponsored pension plan and a subsidized cafeteria.

While the private company doesn’t report earnings, it’s fair to assume that, given that they are still a staple in the grocery store and are opting to absorb the hits they are expecting to come from the tariffs, clearly prioritizing employees didn’t translate to bad business news for the company.

Celebrating 50 years

In 2023, Chapman’s marked its 50th anniversary by launching the Super Premium Plus line, the world’s first allergy-friendly super premium ice cream. This new product line is peanut-free, nut-free, and egg-free, reflecting the company’s ongoing commitment to innovation and inclusivity.

Indeed, Chapman’s has a lot to celebrate. Much more than putting smiles on Canadians’ faces with their ice cream, Chapman’s has always been deeply involved in community initiatives. They donated $1 million towards the construction of a new hospital in Markdale and contributed to various local infrastructure projects, showcasing their dedication to giving back to the community that supported their growth.

They are a truly Canadian company, who loves their community and loves their country and all of the people in it. That they have chosen to forgo passing on the tariffs to Canadians is, for lack of a better phrase, on brand.

Looking ahead

As Chapman’s continues to navigate economic challenges and industry changes, their focus remains on remaining in Canadians’ freezers. By absorbing tariff-related costs, they once again show their commitment to affordability and customer satisfaction, ensuring that their ice cream remains a staple in households across the country.

This article Scooping up the cost: Chapman’s Ice Cream freezes prices despite US tariffsoriginally appeared on Money.ca

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

There’s no denying that using one bank is more efficient, convenient and streamlined than storing your money in multiple banks. But is centralizing all of your wealth in one place truly the best way to manage it?

As with most decisions, there are benefits and drawbacks to this common financial practice. Here, we break down all the pros and cons of using one bank while also highlighting some other options for Canadians looking to diversify where they keep their money stored.

Keeping your money in one bank

There are a few reasons that make keeping all your money in one bank seem like a no-brainer. On the flip side, while it might seem easier, there are some other benefits you might be missing out on. Let’s take a look:

Pro: Easier to manage your money

It’s always nice to simplify and streamline where possible, and banking is no exception. Dealing with only one bank will mean you’ll have a better, intuitive grasp on your transactions and expenditures, as it’s easier to remember chequeing and savings amounts for one account as opposed to multiple accounts across different institutions. A quick visit to your bank, or an online statement provided by the bank, will immediately (and conveniently) reveal all of your financial activity such as deposits, withdrawals and expenses for any given period of time.

Pro: Personalized service

If you’re a loyal customer of only one bank, you may enjoy certain perks or rewards — one of them simply being that the longer you work with a bank, the more of a relationship you develop with the institution. As a result, you may enjoy more personalized attention and service than you would if you were to spread your cash across multiple banks. Forming a good relationship with your bank can be helpful if you need to apply for a mortgage or another type of loan.

Pro: Enhanced security

Security is one of the biggest reasons for choosing to deal with one bank rather than multiple. Of course, your money is only as secure as the financial institution in which it’s stored, so it’s important to have some idea of the strength of your bank’s security measures. Customer ID, password, secret questions and 2-step verification are all examples of measures your bank may employ to protect your cash. In addition, terms such as withdrawal limits, account confidentiality and receiving alerts on major account activity can all help keep your funds safe. When spread across multiple banks, these security measures may simply become too much of a hassle.

Con: You might be missing out on better deals.

If you’re limiting yourself to only one bank, you may miss out on more favourable terms and conditions you’d get elsewhere. For example, if you use an online bank, you may enjoy better interest rates on loans. Some banks also offer cash rewards for opening accounts, so it’s good to keep an eye out for new and worthwhile offers.

Con: Mitigate your risk of loss

If someone were to gain access to your account and sweep it clean, it could be detrimental. If you’re only using one bank and storing all of your money there, you risk losing everything you own in the event of hacking or theft. If the money’s spread out, then a loss is still painful to absorb, but at least you have backup accounts.

Spreading your money out over several banks

Spreading your money over multiple accounts may seem complicated, but it actually has a few good benefits you should consider. However, there are also some things you should consider that can end up costing you extra if you spread your money over multiple banks.

Pro: Take advantage of good terms and deals

If multiple local banks are offering cash bonuses, you could easily collect hundreds of dollars just from opening a new account or two. Of course, these bonuses are usually accompanied by conditions, such as depositing a minimum amount or setting up direct deposit.

Pro: Easier separation of funds

If you’ve been saving for multiple life events, like college, a new car, summer vacation, or a down payment on a house, having different bank accounts can help you better organize and allot your cash to save for a particular goal.

Pro: Increased protection against theft or bank failure

The thing about tying up all of your money in one bank is that you’re trusting it will be safe. In the event of identity theft, where someone might gain access to one account, you can take steps to secure your personal information. For starters, ensure that your accounts at other banks have different user IDs, passwords and security questions to protect against additional losses. Also, if your bank were to have a security breach or go under, it could take time before you see your money again, even with insurance. Keeping your money in multiple bank accounts means that you’ll always have funds when you need them.

Con: It’s harder to stay financially organized.

If you find it difficult to stay on top of your finances when they’re streamlined and in one location, distributing your cash across multiple banks may prove more complicated. If it would be a bigger struggle for you to keep track of your cash in more than one location, you’re better off using just one bank.

Con: Potentially higher fees

While there are certainly options that don’t charge account fees, opening a new bank account with a specific bank may cost you. If your goal is to save rather than to spend, stick to banks that pay you to open an account, or you might be better off just sticking with your current bank.

Con: Lost interest

Some banks will offer a high rate of interest on the savings in your account. Of course, the more money that’s deposited, the more money you’ll be paid in interest. If you have more than one bank account and your money is distributed fairly evenly, you may miss out on some decent interest payments.

Con: Minimum balance requirements

It’s important to know the terms of a bank account prior to opening one. Some banks will require you to keep a minimum account balance at all times or require you to deposit a certain amount upon opening. If this doesn’t work for you or causes financial stress, select banks with no minimum balance requirement, or stick to your current bank.

What if you don’t want to just use a bank?

If you’d like to keep your money places other than a traditional bank account, you’ve got options. Here are some other ways to store your money aside from opening multiple savings or chequing accounts.

Investment accounts

An investment account is more than just a location to store your money. Instead, you can expect quicker growth when you start investing than you would with just a savings account. Individual brokerage accounts and robo-advisors are all examples of investment accounts where you can expect to receive returns. Of course, with an investment account comes the risk of market crashes, during which you can lose your money. A good rule of thumb is to allot no more than 10-15% of your annual income to investments.

TFSA accounts

A TFSA (Tax-Free Savings Account) is a tax-advantaged account available to Canadian citizens 18 years or older. These accounts allow you to save on taxes and can even hold certain investments (e.g. mutual funds, bonds, and cash).

Online banks

Many Canadians currently use or have used online banking. Online banks allow you to hold transferred money from existing accounts, as well as making transfers to other accounts (either yours or other people’s). This method of banking is becoming incredibly common due to its convenience, efficiency, while in some circumstances, offering lower fees compared to traditional banks.

Final word

Ultimately, whether or not you decide to keep your money in one bank account entirely depends on your savings goals and financial habits. If your goal is to have your bank pay interest on your total balance, one bank account might be the way to go. If you feel more secure having your money in more than one place, two or more bank accounts may make the most sense. Take some time to think about which savings goals are priorities to make a decision that works for you.

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