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In today’s turbulent economic climate, marked by President Trump’s recent tariffs on Canada, Mexico and China, concerns about a potential recession are escalating.

As markets react to these developments, investors explore strategies to protect their portfolios.

One such strategy involves inverse exchange-traded funds (ETFs).

What are inverse ETFs?

Inverse ETFs, also known as bear or short ETFs, are designed to move in the opposite direction of a specific index or asset.

For example, if the S&P/TSX 60 Index declines by 2% daily, an inverse ETF tracking this index would aim to increase by approximately 2%.

This mechanism allows investors to hedge against market downturns and presents an opportunity to profit from market dips, instilling a sense of optimism in the face of market challenges.

Benefits of inverse ETFs

• Accessibility: Inverse ETFs provide a straightforward way for investors to hedge against market declines. Purchasing an inverse ETF is as simple as buying any other stock or traditional ETF through your brokerage account, giving you the power to protect your investments.
• Diversification: These ETFs cover various markets and sectors, enabling investors to target specific areas they anticipate will decline. Whether you’re bearish on the overall market, a particular industry, or even commodities like oil, there’s likely an inverse ETF available.

Risks and considerations

While inverse ETFs can be valuable tools, they come with notable risks:

• Short-Term Focus: Inverse ETFs are typically rebalanced daily, aiming to achieve their inverse returns daily. Over more extended periods, due to the effects of compounding, the performance of these ETFs can diverge significantly from the inverse of the target index’s performance. This makes them less suitable for long-term investment strategies.
• Higher Costs: Inverse ETFs often have higher expense ratios compared to traditional ETFs, which can erode returns over time.

Understanding inverse ETFs

Suppose you believe the S&P 500 is overvalued and due for a pullback. Instead of shorting individual stocks or buying put options, you could buy an inverse ETF like the ProShares Short S&P 500 ETF (SH). This ETF aims to return the inverse of the daily performance of the S&P 500.

What does this mean? It means if the S&P 500 drops 1% daily, ProShares Short S&P 500 ETF (SH) should rise approximately 1%, which is what we mean by inverse returns. So, for every 1% drop in the S&P 500, ProShares Short S&P 500 ETF (SH) should increase by 1%.

On the flipside, if the S&P 500 rises 1%, ProShares Short S&P 500 ETF (SH) will decline roughly 1%.

For more aggressive traders, leveraged inverse ETFs exist, such as ProShares UltraShort S&P 500 (SDS), offer even greater chances to profit from market downturns, as it seeks twice the inverse return (-2x).

Buy and sell stocks and ETFs and pay $0 trading fees using the Questrade trading platform.

The role of the VIX and volatility ETFs

Another way investors hedge against market downturns is through volatility ETFs tied to the CBOE Volatility Index (VIX), often called the “fear index.” The VIX tends to spike when the market falls, making it a popular hedge.

Instead of shorting the market directly, you could buy an ETF like ProShares VIX Short-Term Futures ETF (VIXY).

• When stocks decline and fear rises, the VIX increases, and VIXY typically rises.
• When markets are calm or rising, the VIX drops, and VIXY declines.

However, VIX ETFs come with risks. VIX ETFs like VIXY or HUV do not track the VIX index itself but instead use short-term futures contracts. These are subject to contango, a condition where futures are priced higher than spot levels, leading to potential value decay even when volatility expectations rise.

How can Canadian investors use inverse ETFs?

Canadian interest in inverse and volatility ETFs has grown. According to National Bank Financial report, as of Q1 2024, inverse ETFs represented approximately 6.2% of total ETF trading volume on the TSX, up from 4.1% in 2022. This increase in use among investors indicates a rising demand for downside protection.

Canadian investors looking to hedge market downturns using a Canadian-traded ETF can consider the Horizons BetaPro S&P/TSX 60 Inverse ETF (TSX:HIX) or the Horizons BetaPro S&P 500 VIX Short-Term Futures ETF (TSX:HUV.TO), which offer inverse exposure to Canadian and U.S. markets, respectively.

Find out what trading platform works best for your financial goals.

Key takeaways

• Inverse S&P 500 ETFs like SH or SDS or HIX and HUV allow investors to bet against the broader market.
• VIX ETFs offer exposure to market volatility but can erode in value due to the structure of futures contracts.

Is investing in inverse ETFs right for you?

Canadian regulators, including the Ontario Securities Commission, caution that inverse and leveraged ETFs are not suitable for most retail investors due to their daily rebalancing and high risk. They’re best used by sophisticated investors or traders with short-term horizons.

Given the complexities and risks associated with inverse ETFs, they may not be suitable for all investors. If you’re considering them as a hedge against potential market downturns, it’s crucial to:

• Understand the Product: Ensure you fully comprehend how inverse ETFs work, including their daily rebalancing feature and the implications for longer-term performance. This knowledge will empower you to make informed investment decisions, enhancing your sense of control and confidence.
• Assess Your Risk Tolerance: These instruments can be volatile and are generally intended for short-term strategies. Align their use with your risk tolerance and investment objectives.
• Consult a Financial Advisor: Before incorporating inverse ETFs into your portfolio, discuss your plans with a financial advisor to ensure they fit your investment strategy.

While inverse ETFs offer a mechanism to profit from potentially or hedge against market declines, they require careful consideration and understanding. Before proceeding, ensure they align with your investment goals and risk tolerance.

— with files from Romana King

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

Not everyone in Toronto or Vancouver gets to enjoy the quintessential Canadian summer — backyard barbecues, sunny hangouts with friends, or simply a patch of grass to relax on. For the millions living in high-rise condos and rental units with no outdoor space, summer pleasures often come secondhand. And now, even borrowing a backyard is being marketed as a luxury experience.

This summer, President’s Choice, in partnership with backyard-rental platform Swimply, launched Bookable Backyards — a campaign offering free, four-hour slots in furnished suburban backyards for groups of six. The idea is positioned as a feel-good solution: bring people together, share PC-branded snacks, and enjoy a bit of “Possible Lives Here” magic. The catch? This “solution” only underscores the inequity faced by urban residents who lack access to public or private green space.

While the brand’s intentions are noble — and the campaign cleverly timed to coincide with peak BBQ season — it raises a deeper question: Why do so many Canadians need to book a stranger’s backyard just to enjoy summer?

Bookable Backyards: A welcome Band-Aid on a bigger problem

Housing affordability in cities like Toronto and Vancouver has forced more Canadians into vertical living, where private yards are a fantasy and community green spaces are overcrowded, underfunded, or completely absent. Public park access varies widely by neighbourhood, and lower-income residents are the ones most often left behind.

PC’s campaign is, at its heart, an attempt to address this and it does so in an inclusive, friendly way — offering free bookings and pairing the experience with its summer food lineup. But it also plays into the growing trend of monetizing access to once-common experiences, from pool use to backyard birthday parties.

Corporate campaigns filling a public gap

President’s Choice is not the first company to step in with creative solutions for urban living challenges. Similar initiatives across Canada have included branded pop-up parks, outdoor movie nights, and mobile community markets — often designed to promote seasonal products while supporting local engagement.

Bookable Backyards follows this model. The campaign blends marketing with community-building by offering free access to a private outdoor setting, paired with products from the PC Summer Insiders Report. It’s a strategy that aligns well with both Swimply’s mission — democratizing access to outdoor spaces — and PC’s brand promise to make everyday experiences more accessible.

While this approach does bring immediate benefits to participants, it also highlights a broader issue: not everyone in major cities has regular access to green space. With urban density increasing and affordability challenges pushing many into smaller homes without yards, such campaigns tap into a real need — and in doing so, offer a glimpse into the evolving role of private companies in enhancing public life.

Still… who doesn’t want to book a backyard BBQ? Here’s how

Any adult (over the age of 18) in the Greater Toronto Area (GTA) and Greater Vancouver Area (GVA) can book a private backyard haven for a 4-hour time slot (between 1:00pm and 5:00pm) across three weekends, from June 21 to July 6, 2025. The booking comes complete with a table, chairs, patio umbrella, entertainment, and of course, a selection of new and delicious PC-brand burgers, dips, chips, desserts, and sparkling beverages from the PC Summer Insiders Report.

Each booking is designed for groups of up to six people, the experience is further enhanced by on-site hosts dedicated to ensuring a perfect Canadian summer gathering.

Bookable Backyard slots are released one week in advance for each weekend on a first-come, first-served basis, so book quickly! Canadians can head to Bookable Backyards to book.

"Bookable Backyards is a chance for condo-dwellers to enjoy the ultimate backyard BBQ experience. For President’s Choice, it’s an opportunity to connect with Canadians in an authentic way," says Brian Murray, chief creative officer at Zulu Alpha Kilo, the creative agency teaming up with PC Brands to launch Bookable Backyards.

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

It sounds like you were doing all you could to get your finances together in your twenties, like paying your bills on time and being mindful of your debt.

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But forces outside of your control have dragged you down. No, it’s not illness or unemployment. It’s your parent.

Even if you’re on top of your finances, their behavior can affect you. While parents typically have the best of intentions, they’re also human. If they’re not the most financially savvy, it could have far-reaching consequences on your finances.

At the time you co-signed on the car loan with your mom, you didn’t know any better and probably believed that this move would help build your credit, when you had none.

But it looks like instead of paying the loan, your mom may have used her paycheck to go shopping instead.

Here’s what this means and what you can do to fix this situation.

What this means and what you can do

When you co-sign a loan, you are telling the lender that you agree to be responsible for the debt. If the borrower can’t repay the loan and associated fees, you will need to, or it could hurt your credit score. If the loan goes into default, the car could be repossessed, and that negative mark will show up on your credit report since the credit bureaus will report the car loan as yours.

According to Equifax, “Once they’re recorded on your credit reports, [car repossessions] can impact your credit scores for up to seven years. Credit behaviors that typically lead to a repossession, such as missed payments and defaulted loans, may also result in negative marks on your credit reports.”

With a low credit score, it could be difficult to qualify for a loan like a mortgage. Even if you could, you may be limited in your options. Lenders may not offer you the most competitive interest rates. You could pay more in interest charges, costing you tens of thousands of dollars or more throughout the life of your mortgage.

You may also have to pay higher car insurance premiums with a lower credit score.

You can get caught up on your mom’s car loan or contact the lender and negotiate a repayment plan to avoid a default. This could cost you thousands of dollars — money that you may be saving for goals like getting married and purchasing a home.

If possible, you can sell the car yourself and arrange for some other form of transportation for your parent. You can then use the money to pay off as much of the loan as you can. Financial guru Dave Ramsey recommends doing this and avoiding voluntary repossessions.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

“If the sale covers the remaining balance of the loan, you’re home free! But if it doesn’t, you’re better off taking out a small loan for the difference,” says his website. “Paying off that smaller loan will be a heck of a lot better than paying the deficit balance in a lawsuit (not to mention all the fees and having a repo on your credit record).”

Rebuilding a credit score

It is possible to rebuild your credit score once you’ve dealt with the loan.

Once that loan is out of the way, continue what you’re doing to positively affect your credit score before. Pay off your loans on time and avoid getting any new loans. If you have credit cards, keep your balances low and pay off the balance each month.

The key is consistent behavior and time. It’s hard to say how long it will take for your score to go back up as high as you’d like. However, you can monitor it to see where you stand periodically.

To protect yourself from getting into a similar situation, avoid co-signing on loans if you’re unsure whether the borrower will pay back the loan on time.

How to disentangle from a loved one’s finances

Setting boundaries is key if you want to separate your finances from your loved one.

Although it can feel uncomfortable, it’s worth it to sit them down and make it clear what you’re willing and not willing to do in terms of your finances.

For example, you’re no longer going to agree to co-sign on any loans or lend them money to pay back a loan. Or if you do offer money, set a limit on how much and stick to it.

You could also offer to help them with strategies to manage their money. If they’re not willing to accept your help, the best you can probably do is offer educational materials and step back.

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Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

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

Browsing the internet or social media will bring about many first-hand accounts of dating and marriage horror stories that would render even the most hopeless romantic a cynic. Here’s one such story.

Christina MacCrimmon of Ottawa claims she was the victim of ‘love bombing’, that left her nearly $300,000 in debt.

"It’s just unimaginable to think that somebody can honestly do what he has done and still be able to live with themselves the next day," MacCrimmon told CBC News.

How the nightmare unfolded

In the CBC report, MacCrimmon described a whirlwind, two-month romance in which she married Francis Charron, the man she now alleges manipulated her to gain access to her money.

CBC said it has discovered that Charron has also been accused of fraud by multiple people and is facing a number of civil and small claims lawsuits concerning his contracting business.

"He portrayed himself to be that perfect. He found out exactly what I wanted in somebody and then behaved and was that perfect man," MacCrimmon told CBC about falling head over heels for Charron in November, 2023.

But then her world would unravel. He told her that he likely had brain cancer. They married just two months later on January 21, 2024.

MacCrimmon remembers how she would dance in the kitchen with the supposed love of her life.

"He called it ‘Romance Fridays’ and he’d send me these love songs," MacCrimmon recalled. "He treated me with such love and devotion, he just had me on this pedestal."

She alleges he manipulated her into loaning him money by "love bombing" her with affection and compliments, but also by making her feel sorry for him because of his own financial hardships.

According to the Cleveland Clinic, love bombing is a form of psychological and emotional abuse that involves a person going above and beyond for a partner as a manipulation tactic. It looks different for every person, but it usually involves some form of excessive flattery and praise, over-communication of their feelings for you, showering you with unneeded/unwanted gifts, as well as early and intense talks about your future together.

Over the course of their brief two-month relationship, MacCrimmon said she loaned Charron money from her line of credit, allowed him to use her credit card and eventually added him as a supplementary card holder.

"He took everything. This is my whole life, this is my savings. I’m going to be struggling to even retire now," MacCrimmon explained.

Even worse, she is left with no money to hire an attorney to help her navigate the situation she has ended up in, while police also admit that it will take a long time to investigate this particular scenario.

The financial toll of being tricked by love bombing

Falling prey to a love bomber can be costly for victims who may have lost money, assets and perhaps gained additional debt.

According to Women’s Wealth, there are several financial warning signs potential victims should pay close attention to in order to prevent a nightmare from unfolding in their lives. Over-the-top gifts may be the first signal, as someone pours out lavish generosity and expects matching generosity in return.

Rushing into making big financial decisions is another huge red flag, especially if a potential victim starts feeling the pressure to share their bank accounts and investments.

Scammers can also start criticizing a victim’s financial independence, with the goal of introducing thoughts into their heads that weaken their financial autonomy. With that comes guilt tripping, as the scammer places doubts on the victim’s spending habits and suggests they are selfish with their money.

If you’re feeling pressured when it comes to anything financial in your relationship, consider why as this may be a red flag. Financial health is highly dependent on the trust you have with the people who have access to your money.

When it comes to finances, having eyes wide open is the best way to protect yourself. Falling prey to anyone who pretends to have feelings for you when they don’t opens the door to a host of risks, from emotional impact to personal and financial safety. Go into any relationship wisely — but especially a financial one.

Sources

1. CBC: Woman claims she’s victim of ‘love bombing,’ owed thousands (March 5, 2025)

2. Women’s Health: Love Bombing (February 15, 2025)

This article Ottawa woman accuses husband of ‘love bombing,’ leaving her $300K in debtoriginally 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, save and then invest some more. This is the advice many Canadians receive when seeking a financial plan – the specifics of the investments and savings notwithstanding. But current market volatility may be putting somewhat of a damper on those thoughts of financial independence. Almost half (48%) of all respondents in the annual RBC Financial Independence Poll agreed their key investing concern is market volatility and investment performance.

"We’re having conversations with investors who have a lot of questions amidst all the uncertainty right now. While it can be difficult to provide clear answers, our advisors have experienced decades of supporting clients during market ups and downs and one thing remains constant: the value of having – and sticking to – a good financial plan with a long-term approach, to help get through any periods of turmoil," Craig Bannon, RBC director of regional financial planning support, said in a statement.

Canadians estimate they will need approximately $846,437 to ensure an independent financial future.

Investing across the provinces

The figures required for financial independence are notably higher for respondents living in Alberta ($928,179), Saskatchewan and Manitoba ($958,535) and Ontario ($916,714), as well as for Gen X ($1,128,990) and Millennials ($945,748) across the country.

In BC, this figure is slightly less at $877,503. The lowest is Quebec at $616,954.

Interestingly, Quebec respondents were the least concerned about the aforementioned market volatility at only 43%. BC was the most concerned at 12 percentage points higher.

Still most Canadians were confident in achieving their financial independence despite these concerns with anywhere from 47% (Atlantic Canada) to 55% (BC) believing so.

Generational differences in Canadian investors

To help themselves get there, 49% of all respondents invested during 2024, including 49% of Gen X and 46% of Millennials. As well, 54% of Millennials and 46% of Gen X share the same worries around market volatility.

Across the generations, most invested in mutual funds, then stocks, GICs, pension plans and ETFs. Cryptocurrencies were at the bottom of the list, although 8% of Millennials reported investing in them.

The poll findings also indicated that just over half (51%) of Canadians now have a financial plan (formal or informal). This includes 50% of Millennials and 44% of Gen X, who responded that having this plan made them feel ‘confident’ (42% and 38% respectively) and ‘reassured’ (30% and 35%).

Survey methodology

The 34th annual RBC Financial Independence Poll was conducted by Ipsos through online interviews with 2,000 Canadians aged 18 and above between October 4 to 11, 2024.

Sources

1. Cision: Investing in ourselves: Canadians’ quest for financial independence – RBC poll (March 19, 2025)

This article Canadians are worried current market volatility will impact their future financial independenceoriginally appeared on Money.ca

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

An 86-year-old New Brunswick man is facing a hefty fine for an accident he has no memory of — an incident that took place 65 years ago in Toronto.

Ossie Gildart was shocked to learn that his driver’s licence had been suspended due to an uninsured accident from 1960, after a recent fender-bender led him to Service New Brunswick in Bathurst, according to CBC News.

“I just couldn’t believe it. I couldn’t remember having an accident that I wasn’t insured with,” Gildart told CBC. “[The representative] said, ‘Mr. Gildart, I’m sorry, you can’t take the test, your licence has been suspended.’”

The fine amounts to $4,661.91, which Gildart is expected to pay before his licence can be reinstated. The charge stems from Ontario’s Motor Vehicle Accident Claims Fund, which is used to help individuals recover damages from accidents involving uninsured drivers. However, Gildart is certain he was insured during his time in Ontario.

Long history of licence renewals with no issues

While living in Ontario, Gildart worked as a service technician, a position that required him to have insurance. He was also required to renew his driver’s license annually. After moving to New Brunswick in 1971, he received his Class 1 license and drove trucks for CN Rail. He has never encountered any issues related to the alleged 1960 accident during his years of licence renewals, in Ontario or New Brunswick.

“I was never notified by anybody, for anything. I was never suspended. I never had a problem. I just can’t believe they do this to a senior,” he told CBC.

How New Brunswick enforces old suspensions

Geoffery Downey, a spokesperson for New Brunswick’s Department of Public Safety, explained the situation to CBC News. He said that Service New Brunswick conducts a Canada-wide search for licence suspensions in other provinces. With that said, something popping up on the search doesn’t necessarily mean anyting will come of it. There is, Downey explained, descretion.

“If our investigation proves the reason for suspension is a court-ordered [judgment] more than 10 years old, we have no obligation to another province to suspend or collect the outstanding amount,” Downey said in an email obtained by CBC.

Gildart’s licence has since been reinstated, and his driver’s test was rebooked. However, the $4,600 fine still stands, and he is now required to pay it back in monthly installments of $200.

The Ontario Ministry of Public Business and Service Delivery has noted that individuals facing claims through the program have options to contest the charges. "If an individual is sued and disagrees, they may defend the action that has been commenced against them," said spokesperson Jeffery Stinson in the CBC story. “If a judgment has been issued, they may seek legal advice to move to have the judgment set aside.”

Recourse and possible steps to rectify the situation

1. Request for documentation: One of Gildart’s first steps should be to formally request any documentation related to the alleged 1960 accident from the Ontario Ministry of Transportation. This will include any accident reports, evidence of an uninsured driver and court judgments. Gildart can then examine this material with legal counsel to assess whether there are discrepancies or mistakes in the records.
2. Legal action to set sside the judgment: If the claim has led to a court judgment, Gildart may have grounds to seek the judgment be set aside. Legal experts suggest that individuals in similar situations should consult a lawyer to ensure the judgment was legally obtained and whether there is a possibility of challenging it. This may involve showing that Gildart was insured or that the claim was incorrectly assigned to him
3. Debt payment negotiation: While Gildart’s licence has been reinstated, the fine still stands, and he must now pay $200 per month. If Gildart cannot afford these payments, he may be able to negotiate a reduction or extension. Debt relief services or legal counsel can also help negotiate with the Ministry of Public Business and Service Delivery on payment terms that are more manageable, depending on his financial situation.
4. Investigating any statute of limitations: Gildart should also investigate whether there is any statute of limitations that could bar the claim from being enforced after so many years. In Ontario, the limitation period for many civil claims is typically two years, but this may differ depending on the type of claim or whether the case falls under an exception. Legal advice on whether the claim is valid after more than six decades could be crucial.
5. Consult with an insurance company: They can confirm the history of insurance or if there were penalties related to a lapse in coverage.

Sources

1. CBC: New Brunswick driver gets a $4,600 fine — for an accident that happened 65 years ago (Feb 19, 2025)

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

The old saying “comparison is the thief of joy” is increasingly relevant in the age of social media.

A 2024 study by LendingTree found that more than six in 10 Gen Zers say they feel pressured to spend to keep up with others.

For Alyssa Davies, a 32-year-old content manager from Calgary, Alta., the cost of keeping up with the Joneses landed her in serious debt.

“The thing that influenced me most when it came to spending money and collecting tens of thousands of dollars in consumer debt was external pressure from peers and media,“ said Davies.

However, she isn’t alone in overspending. The average credit card balance for Canadians was $4,499 in the second quarter of 2024, according to TransUnion.

With inflation remaning steady, now is a good time to manage your debt and get your finances on track. It might be time to reassess your spending habits — and your scrolling habits — and realize when a lifestyle isn’t sustainable.

“When we’re scrolling, we’re being influenced.”

Parween Mander, a certified financial counselor and trauma facilitator, sees the effects that social media has on people’s spending habits. She has witnessed her clients comparing themselves to family and friends, creating a narrative around the life they’re living.

“We’re seeing other people, maybe taking trips or going out to fancy dinners and that comparison game just starts to seep in,” said Mander.

She’s quick to point out that, when you’re on social media, “no one’s posting receipts.”

The materialistic things you see on social media, Mander notes, are often funded through debt.

You don’t see the financial struggle that people are facing, “We just see the nice flashy stuff,” Mander noted.

The endless assault of images can be triggering if you have a debt problem. If you can, Mander recommends removing yourself from social media to avoid the problem. She also suggests following more positive influences.

For instance, some Tiktok users have started promoting the concept of “de-influencing” as a way to combat overconsumption.

The why of the buy

“There’s complicated layers below our spending decisions and that doesn’t get talked about enough. It’s labelled as you’re bad with money because you’re overspending, and that’s the end of the conversation," Mander said.

One of the main problems facing individuals is that getting a quick fix is often easier than identifying the source of the problem. For many, this results in impulsive purchases and “retail therapy.”

If you’re stressed or tired, you might go online and buy a product you’ve been wanting in order to help you feel better.

“What are we seeking here?” asks Mander. “In most times it’s comfort, safety, security.”

For Davies, understanding her relationship with money and the emotional weight it carried was one of her first steps to getting out of debt.

“I thought spending money showed that I was successful, which wasn’t healthy,” Davies said.

Keeping a journal of her expenses and using spending trackers helped Davies find a path out of debt.

Look for signs

Davies has felt the spiral of debt first hand.

“Early on, I didn’t even consider the reality that I would have to pay back all of the debt I was accumulating.”

“As soon as I had maxed out two credit cards and was struggling to pay the minimum balance on my cards each month, it was impossible to avoid thinking about debt,” said Davies.

Seeing the signs of a debt cycle can be difficult. Mander has identified three signs that may suggest you’re in trouble:

1. You avoid looking at bank or credit card statements. Mander says this suggests you’re avoiding accountability, and therefore don’t want to face the truth about your money.

2. You carry a consistent balance on your credit card, and are only paying off the minimum amount each month.

3. You regularly pay off your credit card debt, but you spend your entire paycheck doing it. Mander says this is a silent sign of having uncontrollable debt, as it’s a hidden cycle. Due to this, you’re not able to save any money for the future.

The social pressure of spending

Mander acknowledges that there’s a social element to spending, whether it’s going to an event with friends or out for dinner and drinks. This can be a hard thing to let go of when you’re trying to get out of debt, which is why she teaches her clients “stepped down spending.”

This technique involves coming up with a compromise that can limit your exposure to spending, while allowing you to take part in a social event.

For instance, if your friends invite you to dinner and drinks, Manner suggests you can offer to meet them at happy hour. You still get to spend time with them, but you also make a conscious decision that’s better for your budget.

The journey out of debt

Mander recognizes that there’s an emotional and psychological component on top of the financial reality you face when trying to get out of debt. While it’s important to analyze why you’re spending, you also need to take a look at the numbers.

When Mander works with a client, she goes through the past two or three months of credit card and bank statements. This lets her show her clients how they can start making different decisions with their money, whether that’s reducing takeout or retail shopping.

The next stage is to focus on debt resilience. For some clients, throwing all their money at their debt can ultimately lead to greater debt in the future. It’s important to build an emergency fund while you reduce debt, so that you are better prepared for unplanned expenses.

Mander stresses that building an emergency fund takes time, but that’s a normal part of the process.

Sources

1. LendingTree: 62% of Gen Zers Feel Pressured to Keep Up With the Joneses, As Many Overspend Into Debt (March 18, 2024)

2. TransUnion: Q2 2024 Credit Industry Insights

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

You’re enjoying your retirement years, taking the occasional road trip to spend time with friends and family. But your car has seen better days — nearing the end of its life at 200,000 miles.

Since you haven’t purchased a car in a long time, you may be surprised at how much vehicles have changed — and how much they cost.

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• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

Before heading to the nearest dealership, It’s essential to determine what you’re looking for in a new vehicle first.

Evaluating your finances

Take a careful look at your financial situation. You’re no longer in your income-earning years, so every penny counts. Planning for expenses outside your usual spending can help prevent you from severely depleting your retirement savings.

Start by figuring out your budget for a vehicle purchase. You can do this by reviewing your monthly retirement income and allocating a percentage towards a vehicle.

If your car budget isn’t as high as you’d like it to be, purchasing a used vehicle could save you money.

Don’t forget to estimate the trade-in value of your current car — it could help bring down the overall cost.

It’s possible to finance a vehicle after retirement, but you’ll need to factor in interest charges and any additional lender fees. These extra costs can eat into your retirement budget, so the monthly payment must be one you can easily afford.

Shopping around with different lenders is a smart way to find the best rate and loan terms based on your financial profile. Checking your credit score ahead of time can also give you an idea of which lenders are more likely to approve you.

Paying for a car in full upfront can save you money on interest. If you choose this route, consider whether you’re comfortable withdrawing a lump sum from your retirement accounts. Alternatively, you could set up a sinking fund — setting aside a chunk of your retirement income in a separate savings account until you have enough to make the purchase.

Remember to factor in ongoing costs beyond the purchase price or loan payments, such as car insurance, maintenance, and fuel.

Owning a different vehicle may result in higher car insurance premiums, so be prepared for potential increases. Fuel costs might also rise if your new car isn’t as fuel-efficient as your old one.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Choosing the right vehicle for your needs

Reliability is one of the most important factors when choosing a car. Look for a vehicle that offers the safety features you want, one that’s low maintenance and fuel-efficient. Spending less on fuel and repairs will help lower your ongoing expenditures.

Resources like Consumer Reports offer reliability ratings can give you insight into how well certain makes and models hold up over time. You can also ask trusted friends and family members for their recommendations.

In addition to financial considerations, think about your lifestyle. If you need a reliable car for running errands and visiting family, you may not need all the latest bells and whistles.

However, if you plan to be more active — going camping or taking long-distance trips — you may want to consider features that improve your safety on the road. These can include backup cameras, blind spot detectors and cross-traffic alerts.

Whatever you plan to use your car for, make sure you feel comfortable driving it and know how to use its features. A high-end infotainment system might sound nice for long trips, but if it’s challenging to use, it could end up being more frustrating than helpful.

What to read next

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• This is how American car dealers use the ‘4-square method’ to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement

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

“Look what you made me do.” — Taylor Swift, Reputation album (2017)

That wasn’t just a mic drop — it was a mission statement.

Over the past decade, Taylor Swift hasn’t just rewritten pop music; she’s rewritten what it means to be a modern business mogul. From boardroom negotiations to billion-dollar brand-building, she’s taken control of her career with the same precision she brings to her songwriting, and she’s done it all without giving up her power.

Now a self-made billionaire and one of the most influential women in entertainment, Swift has built a global business empire that spans music, media, fashion and cultural capital. Her rise isn’t just remarkable. It’s a masterclass in strategic entrepreneurship. Whether you’re a fan or not, Swift’s playbook has real-world lessons for anyone who wants to build wealth, protect their work and take control of their financial future.

The roots of a music empire — and a fight for ownership

Taylor Swift’s story started in 2006, when a 16-year-old singer-songwriter from Pennsylvania burst onto the country music scene with her self-titled debut. What followed was a rocket-fueled rise from Nashville newcomer to global pop phenomenon. Shelves of awards, record-breaking tours and a fanbase so devoted it could launch a cryptocurrency followed.

But behind the spotlight, a quieter battle was brewing. Like many young artists, Swift signed her first record deal with Big Machine Records without retaining the rights to her master recordings, the original versions of her first six albums. That decision came back to haunt her in 2019, when the label was sold to music executive Scooter Braun’s Ithaca Holdings. Swift called the sale “my worst case scenario” and made it clear: This wasn’t just business — it was personal.

What came next wasn’t a retreat. It was a reinvention.

Reclaiming her masters: A long-game power move

Rather than fight the sale in court, Swift made a bold decision: She’d re-record her first six albums, creating “Taylor’s Version” releases that she fully owns. It was a high-effort, high-reward strategy — one that turned a loss into an asset.

The move didn’t just satisfy fans. It flipped the power dynamic in an industry that often sidelines artists. Each new “Taylor’s Version” draws streaming and licensing revenue away from the original masters. In essence, Swift created a superior, competing product — and fans followed.

Her message was crystal clear: If you don’t own your work, someone else profits off it. But if you play it smart, you can take that power back — and build something even stronger.

As she told The New York Times: “I will own my work. That’s how I will take care of my legacy.”

The backlash era: Brand resilience under pressure

Swift’s path to becoming a business icon wasn’t without bruises. One of the most public and painful moments came in 2009 at the MTV Video Music Awards, when Kanye West stormed the stage during her acceptance speech for Best Female Video. “I’mma let you finish,” he said, before declaring Beyoncé more deserving. The moment went viral before “viral” was even a buzzword.

At first, Swift was framed as the victim — a young woman unfairly interrupted. But as the years unfolded, her relationship with public opinion shifted dramatically. Accusations of playing the victim, media backlash and the 2016 Kim Kardashian “snake” narrative (sparked by the release of a phone call between Swift and West) led to a massive online campaign to “cancel” her. Twitter was brutal. She disappeared from the public eye for nearly a year.

But that time away wasn’t wasted. It was strategy.

Swift returned with Reputation in 2017, a defiant rebrand that confronted the controversy head-on. The snake — once a symbol of hate — became her mascot. She flipped the narrative by reclaiming the imagery and making it part of the story. “I learned that disarming someone’s weapon can be as simple as using it yourself,” she later said in an interview.

From a brand standpoint, Swift’s response was a masterclass in crisis management:

• She didn’t rush to defend herself immediately, instead she paused, regrouped and and responded on her terms
• She leaned into creative reinvention rather than defensiveness
• She kept control of the narrative and used it to build a stronger, more defined brand identity

For entrepreneurs and individuals alike, it’s a reminder that your brand will face challenges. The key isn’t to avoid controversy. It’s to respond strategically, authentically and with an eye on the long game.

As Swift proved: You can take a public hit, reframe the story and come back even stronger.

Beyond the music: How Swift turned her brand into a billion-dollar machine

Swift didn’t become a billionaire just by writing hits. She did it by building a bulletproof brand. A key part of that? Diversifying her income — a core principle in personal finance.

From early endorsements with Diet Coke and Keds to major deals with Apple Music and Capital One, Swift has always aligned her partnerships with her persona. Add in a wildly successful merchandise operation, carefully timed product drops and a growing real estate portfolio, and it’s no wonder Forbes pegs her net worth at over US$1 billion.

Her Eras Tour became more than a concert series, it was an economic engine. The Washington Post called it a “financial phenomenon,” and Fortune estimated it generated more than $5 billion in economic activity across the globe.

“Taylor Swift understands brand-building like few others,” music industry analyst Keith Harris told The Guardian. “Her ability to transform her music career into a lifestyle brand multiplies her revenue and future-proofs her income.”

Lesson learned? Don’t rely on a single stream of income. Swift is proof that strategic diversification isn’t just smart, it’s essential for long-term financial resilience.

“Long live all the magic we made”: Turning fans into loyal customers

Most artists have fans. Taylor Swift has a movement — and she’s the CEO.

Her fan connection is part marketing, part magic. Surprise appearances, handwritten notes, cryptic clues, “easter eggs” in lyrics — Swift has created an interactive universe of ‘Swifties’ where fans feel personally seen. It’s not just engagement. It’s emotional equity.

That trust pays off. Fans stream her music obsessively, snap up “Taylor’s Versions” without hesitation, and buy concert tickets, merch and limited-edition vinyl like their financial future depends on it.

According to Harvard Business Review, “Creating an emotional connection with your customers leads to stronger brand performance and customer lifetime value.” Swift is living proof. She’s not just selling songs — she’s selling a story. And her fans are more than consumers; they’re invested stakeholders.

The takeaway for entrepreneurs? Connection builds loyalty. Loyalty builds value.

“I’m doing better than I ever was”

You don’t need a record deal or a sold-out tour to apply the strategies that built Swift’s empire. Her playbook offers practical lessons for Canadians looking to build wealth, take control of their careers and grow something on their own terms.

Here’s what stands out:

• Own what you create: Whether you’re a freelancer, entrepreneur, or side-hustler, retaining control over your work gives you more leverage and long-term value
• Diversify your income: Swift’s success isn’t tied to one stream — neither should yours be. Explore investments, side gigs, or scalable income sources
• Play the long game: Re-recording six albums took years — but it paid off. Strategic decisions today can build powerful payoffs tomorrow
• Invest in connection: Whether it’s clients, customers, or a community, relationships drive loyalty. And loyalty builds staying power

Swift’s journey from teenage songwriter to billion-dollar brand is more than impressive — it’s a reminder that smart, strategic moves compound over time.

Make the whole place shimmer

Taylor Swift didn’t just rise. She rebuilt, rebranded and reinvented herself every time the world counted her out. Her success wasn’t stumbled into; it was crafted, protected, and scaled with intention.

Whether you’re launching a business, navigating a setback or simply figuring out your next financial step, there’s power in owning your story, protecting your value and leaning into reinvention when the moment calls for it.

Or, as she might say: make good ideas and power moves — and watch what you build shine.

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

A lot of Canadians are reasonably on edge lately, with US president Donald Trump’s continued talk of annexing Canada and various tit-for-tat tariff threats lobbed back and forth across the border. That tension has been reflected in Canadian businesses, with the Canadian Federation of Independent Business (CFIB)’s Business Barometer crashing to an all-time low in March.

"Small business owners are feeling pessimistic about their business’s perspectives for the next few months or even beyond. It’s hard to make critical decisions for the long, medium or short term when so much can change within a matter of hours," Simon Gaudreault, CFIB’s chief economist and vice-president of research, said in a statement.

"No one knows when the tariff war will end, and businesses are worried the worst is yet to come."

The index dropped 24.8 index points to 25.0, which is a lower mark than at any time during the 2020 pandemic, 2008 financial crisis or even the September 11, 2001 attacks.

How is this tension affecting Canadian small businesses?

To recoup the losses caused by tariffs and the ongoing financial struggles, small businesses plan to raise prices by an average of 3.7%, an increase from 3% in February — the largest month-over-month spike in price increase intentions since the pandemic. Average wage increase plans dropped to 1.9% from 2.2% last month.

Weak small business optimism is also translating into lower hiring plans, with 19% of small firms planning to lay off in the next few months (up from 13% in February), and only 11% looking to hire.

Insufficient demand has been steadily trending upwards since November 2024, reaching a new historical high of 59% of affected small firms in March, eclipsing the pandemic high mark of 53% for this indicator.

Are there regional or sector differences?

Confidence among all sectors also fell, with hospitality (17.0), manufacturing (18.6), transportation (21.0) and agriculture (21.3) at the bottom of the scale. In addition to US tariffs, agriculture businesses are also facing 100% tariffs from China on canola oil, peas and oil cakes as well as 25% tariffs on pork and aquatic products such as lobsters.

This dramatic drop in confidence is being felt across the country, according to CFIB’s survey. All provinces registered a drop in optimism, with the three largest provinces among the most pessimistic: Ontario (23.4), Alberta (24.1) and Quebec (24.9).

"Business confidence is at abysmal levels. If this doesn’t send a strong warning signal to policymakers that businesses urgently need all the help they can get to weather this storm, including a much-improved business environment here in Canada, then I’m not sure what will," said Corinne Pohlmann, CFIB’s executive vice-president of advocacy.

Survey methodology

CFIB’s survey is based on 1,065 responses from a stratified random sample of its members, to a controlled-access web survey from March 5 to 7. Measured on a scale between 0 and 100, an index below 50 means owners expecting their business’s performance to be weaker over the next three or 12 months outnumber those expecting stronger performance.

This article Canadian small businesses’ confidence is at an all-time low amid US trade tensionsoriginally appeared on Money.ca

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