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Jodi Heger is a resident of Spanish Village and leases the land beneath her mobile home — a common occurrence for many of those living in mobile home lots. The rent was affordable on her income, but now she may be forced to leave the mobile home community for those aged 55 and over.

As to what prompted the price increase, Heger told reporters at News 6 that, “they can do it because there’s no cap saying they can and can’t.”

It’s not a small increase either.

Heger is currently paying $480 a month to lease the land. In a few short months, the rent will almost double to $850 per month.

For Heger and other residents, the increase is forcing them into a financial bind, even if they had the option to relocate.

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What’s going on?

Residents are saying it’s a trend they’re seeing elsewhere too — corporations are purchasing mobile home parks, and then increasing the rent for this land.

The rent increases have huge negative financial ramifications because many residents rely on small retirement accounts or Social Security payments. Some may not even have any retirement set aside at all and live on fixed incomes, month-to-month.

Peggy Elam is another resident that is feeling the pinch.

Her father-in-law purchased the home in 1994, but the increases in rent — which have now happened several times by as much as $200 or more each time — are squeezing her out of the community.

In tears, she told reporters, “I promised to take care of it and now we may have no choice but to sell it.”

Because so many can’t afford the lot rent, residents are putting up their homes for sale.

Spanish Village HOA President Phillip Roy said that out of the 36 homes listed for sale in the community, 32 are listed because the lease has become too costly.

The issue is also that the increasing rent has made the homes less desirable to prospective buyers, leaving the current owners in a lurch. While homes previously went for as much as $150,000, now prices have gone as low as $30,000.

“People are actually losing their equity in their homes very quickly,” he told reporters.

On their part, The Power Group — the management company responsible for Spanish Village — offered a written statement explaining the rent increases.

The statement says that Spanish Village is, "consistently enhancing the community with impactful upgrades — including new roads, golf course installation, clubhouse renovations, extensive landscaping and tree work, and more."

The company also says that it offers, “resources available upon request to help those who may be facing financial difficulties, including information on nearby organizations that can help with rent assistance.”

But will these resources really help residents who still can’t afford the lot rent?

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

What options do the mobile home residents have?

There may be some hope by way of House Bill 613 (Mobile Home Park Lot Tenancies) — a piece of Florida legislation enacted last July.

The bill means that mobile home owners and park owners can go to mediation over any lot rent disputes. Until the dispute has been submitted, no civil action can be taken against residents or park owners.

However, State Representative Paula Stark who drafted the bill says that some owners of mobile parks have been enacting strategies to get out of the mediation process. The Florida Department of Business and Professional Regulation is also working with her to determine what loopholes exist in the current legislation, and how these can be remedied.

She also introduced House Bill 701, meant to help mobile home owners pay for rent through financial assistance provided by their municipal government. Unfortunately, that bill didn’t pass this legislative session in the Senate after moving through the House.

How can mobile home residents respond to higher rent prices?

Increasing rent costs are a challenge, but you have several strategies available to you.

Depending on your relationship with your landlord, you can begin by trying to negotiate with them. Perhaps you could ask them to delay the increase so you have a longer runway to prepare for the incoming hit to your budget. You can also suggest a compromise on the rate, to arrive at a rent amount that works for both of you.

Of course, this does require you to adjust your budget at some point, as your housing costs will undoubtedly eat up more of your income (this is unfortunately a trend with housing elsewhere too).

Emphasize that there is value in the track record you’ve established thus far — consistent and timely payments, following lease terms, caring for the property and its upkeep, communicating well and maintaining a positive standing within the community and management. There are plenty of examples of tenants causing problems for their landlords, so demonstrating your trustworthiness can serve you.

If your building is rent-controlled or needs to adhere to certain rules, be sure to take the time to understand what rights you have. Reach out to the appropriate housing authorities if you need assistance or push for mediation.

One mobile home community in Littleton, Colorado even banned together to fight a new corporate purchase with their own $18 million counter offer, turning their homes into a “family business.”

Exploring other housing may help yield other viable options for you, especially if you’re on a fixed income or unable to increase the amount you earn. Consider renting in other areas or living with a friend or other family members to help control costs, if you absolutely need to go this route.

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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.

As talk of a Canada Post strike heats up, many Canadians — especially seniors — are wondering what it means for their monthly income. For those relying on government programs like the Canada Pension Plan (CPP), Old Age Security (OAS), or the Guaranteed Income Supplement (GIS), the fear of missing a payment can cause real anxiety.

But there’s good news: You can safeguard your retirement income by making a few smart moves today.

Why the mail matters (or doesn’t)

While many Canadians now receive their government benefits via direct deposit, a significant portion — particularly older, rural, or less tech-savvy individuals — still receive paper cheques in the mail. If postal workers walk off the job, it could delay those payments indefinitely.

During previous strikes, contingency plans have been put in place to prioritize the delivery of government cheques. However, delays are still possible, and local distribution points may change or require in-person pickup — a barrier for anyone with mobility issues.

How to protect your income flow

Sign Up for Direct Deposit Immediately

The Government of Canada offers direct deposit for all benefits. You can register:

• Online: Through your My Service Canada Account (MSCA)
• By phone: Call 1-800-277-9914
• At your bank: Most Canadian financial institutions can help set this up in person or online

Verify Your Information

Even if you’re enrolled in direct deposit, double-check your:

• Banking information
• Mailing address
• Contact details in your MSCA

Watch for CRA or Service Canada Notices

Sometimes, important requests (e.g., proof of income for GIS) are mailed. A delay in replying due to a strike could interrupt your payments.

Risks of waiting (until there is a full-blown strike)

As of June 10, 2025, the only strike action taken by striking Canada Post workers is to ban overtime. Right now, talks continue between CUPW, the union representing Canada Post workers, and the Crown corporation.

If talks breakdown, there could be further strike action, including a complete stoppage of all mail delivery. For retirees, a postal strike won’t just delay cheques — it could:

• Cause late payments for prescription drug coverage or rent
• Interrupt GIS payments if required documents aren’t received by the CRA
• Create financial hardship for seniors living on a fixed income

Going digital can help you beyond the strike

One way to alleviate some or all problems that may arise from a full-blown postal strike is to switch to digital. This means getting correspondence and money through digital messages, such as email or secure mail servers.

And making the switch to digital isn’t just a short-term fix — it’s a long-term upgrade:

• Faster access to your money
• Fewer risks of lost or stolen cheques
• Easier access to notices and updates from government programs

For those uncomfortable with online tools, many community centres, libraries, and banks now offer help with digital banking and government services.

For caregivers: Step in now

If you’re helping an aging parent or relative, now is the time to act:

• Ask if they still receive mailed cheques
• Help them set up direct deposit or access online accounts
• Watch their accounts during the strike period for payment irregularities

Bottom line

A Canada Post strike could delay essential income for thousands of seniors — but it doesn’t have to. Switching to direct deposit, verifying your information, and staying informed can ensure your payments arrive on time, every time. The sooner you act, the better protected you’ll be — not just during a strike, but long after.

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

Condo buyers in the Greater Toronto Area saw a market tilted in their favour in the first quarter of 2025, as a surge in listings and a slowdown in sales gave them more power at the bargaining table, according to a new report from the Toronto Regional Real Estate Board (TRREB).

Between January and March, 3,794 condominium apartments changed hands across the region — a 21.7 % drop from the same period last year. At the same time, listings climbed 25.2% to 14,544, offering would-be buyers more choice and the upper hand on price.

That shift in the market helped push the average selling price of a GTA condo down 2.2% year-over-year to $680,146.

“With increased listings and lower sales, condominium buyers had more negotiating power on price,” TRREB noted in its release.

Borrowing costs and economic uncertainty still keeping buyers on the sidelines

But despite the increased availability and slightly lower prices, many buyers remain on the sidelines. Polling conducted by Ipsos for TRREB found that high borrowing costs and shaky economic confidence are holding back demand. The board cited “uncertainty surrounding Canada’s trade relationship with the United States” as a key factor weighing on consumer sentiment.

In the rental market, a similar trend has emerged. A steady supply of available units has allowed many renters to strike better deals on monthly rents, and in turn, delayed plans to make the leap into ownership.

Looking ahead, TRREB expects the tide may turn later this year. “Once economic confidence improves in the months ahead, the demand for condominium apartments should increase as well,” the board said, pointing to the likelihood of further interest rate cuts in 2025.

Why this matters: What GTA condo trends say about the broader housing market

The Greater Toronto Area is home to Canada’s largest — and most scrutinized — real estate market. In a region where detached home prices often remain out of reach, condominium apartments have long been the more accessible option for first-time buyers, downsizers and investors alike.

But after years of rapid growth, the condo market is showing signs of cooling. The 2.2 % drop in average selling price this past quarter may seem modest, but it marks a shift from the sharp price gains of recent years. That decline comes as higher interest rates continue to stretch buyer budgets and test affordability.

Mortgage costs have climbed significantly since 2022, according to data from Statistics Canada and the Bank of Canada. Combined with growing uncertainty about Canada’s economic future, including trade tensions with the United States, these headwinds have made buyers more cautious and sellers more flexible.

For GTA residents trying to time a move, or renters considering a jump to ownership, the current environment underscores how closely pricing, inventory and borrowing costs are connected.

About the data

All figures cited are from the Toronto Regional Real Estate Board’s Q1 2025 Condo Market Report, which tracks quarterly sales and listings activity in the GTA condo market. Consumer sentiment data comes from polling conducted by Ipsos on behalf of TRREB.

The full report is available at trreb.ca.

Sources

1. TRREB: Condo Market Report (2025 Q1)

2. TRREB: TRREB Releases 2025 Q1 Condo Market Statistics (May 26, 2025)

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

The Halifax Regional Municipality was riding a wave of tourism success in 2024, nearing pre-pandemic highs and breaking new ground across several key performance indicators. A new report from Discover Halifax paints a picture of a city not only rebounding but thriving, thanks to strategic planning, community engagement and growing global interest.

According to the organization’s 2024 Annual Report, the city welcomed approximately 10.22 million unique visitors between mid-June and the end of December, just shy of the 2019 high of 10.26 million for the same period. The surge in visitation marks a 23.4% year-over-year increase, as reported by the Downtown Halifax Business Commission, pushing total visits to a record 18.5 million for the year.

The upswing is more than a tourism milestone. It’s a major economic story. Halifax Stanfield International Airport alone contributed over $4.2 billion to the regional economy in 2023, a 24% jump from the previous year, underlining the tourism sector’s broad impact on jobs, transportation and local business growth.

"As we look back on 2024, it’s clear that it was a transformative year for our organization and our community,” Ross Jefferson, President and CEO of Discover Halifax, said in a press release. “It marked the first year under our new service agreement with the Halifax Regional Municipality (HRM) and the introduction of two new departments. These changes have strengthened our foundation, setting us up for a future of growth and innovation.

Room nights, cruise ships and a city in demand

One of the strongest signs of recovery has been in hotel performance. In 2024, Halifax saw approximately 1.63 million hotel room nights sold — a 2.6% increase over 2023 and an 11.4% jump from 2019 levels. The increase in demand even outpaced a 5% growth in hotel supply, a signal that the city is drawing not just more visitors, but longer stays.

The cruise industry, another pillar of Halifax’s visitor economy, also made waves. Passenger traffic grew by nearly 20% over the previous year, reinforcing the port’s reputation as one of Canada’s top cruise destinations and a gateway to Atlantic culture and cuisine.

Major destination events were also a driving force in 2024. Halifax hosted the Juno Awards and the Pickleball Canada National Championship, contributing to a banner year for event tourism. Discover Halifax submitted 298 bids for business events and secured 145 wins, a success rate that was 18% higher than in 2023.

Community buy-in and quality of life

Perhaps one of the most encouraging indicators comes not from tourists, but from the people who live and work in the region. In a recent public survey, 88% of Halifax residents said they viewed tourism’s impact on their community as “positive” or “very positive,” up from 80% in 2023.

This growing community support reflects a broader sense that tourism is bringing more than economic activity — it’s enhancing local culture, amenities and services.

Planning for long-term, sustainable growth

Looking ahead, the city’s ambitions are being shaped by the Halifax Regional Integrated Tourism Master Plan, which lays out a roadmap to 2030. The plan focuses on sustainable growth, destination development and ensuring tourism remains a benefit, not a burden, for residents.

Discover Halifax and its partners are investing not just in visitor numbers, but in quality-of-life improvements and resilient infrastructure. From inclusive programming to support for local businesses, the city’s tourism strategy aims to be as durable as it is ambitious.

With rich maritime history, a thriving food scene and growing international visibility, Halifax is quickly becoming one of Canada’s most compelling year-round destinations.

And for investors, small business owners and hospitality professionals, the message is clear: Halifax is open for business — and booming.

Sources

1. Discover Halifax

2. Discover Halifax: 2024 Annual Report

3. Downtown Halifax: Data & Reporting

4. Halifax.com: 2024 Resident Survey (October 2024)

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

When Hurricane Helene tore through Ruskin, Florida, in 2024, Robert Paul and his wife lost nearly everything. Their home was destroyed, and like many Americans, they turned to their insurance provider for relief — and were relieved when their $30,000 claim was quickly approved.

But that relief quickly turned to frustration. The settlement check from the National Flood Insurance Program bounced — twice.

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The first time, officials blamed a bank switch. The second time, the bank refused to resubmit the check altogether. “It again came back as no good,” Paul told WFLA, “so now the bank has told us they will not resubmit [the check].”

It’s the kind of scenario no one wants to deal with in the wake of a disaster. So what happened next? And did the Pauls ever get the money they needed to make repairs? Here’s what happened, and what you can do if you find yourself in a similar situation.

Did the family get their money?

Yes — but only after a new check was issued.

At the end of April, representatives told Paul to expect a new check in the mail, which he could then cash.

Until the check cleared, Paul and his wife had to wait to begin repairs on their home.

In Florida, it’s common for homes in certain areas to flood after hurricanes, which makes flood insurance essential.

What is the National Flood Insurance Program?

The National Flood Insurance Program, or NFIP, is managed by the Federal Emergency Management Agency (FEMA). It partners with about 50 insurers to offer policies to homeowners and renters who want protection from floods.

Since most standard homeowners insurance policies don’t cover flood damage, many homeowners, renters and even businesses purchase coverage through the NFIP, provided they live in a qualifying area.

Policies typically cover up to $100,000 for your belongings and $250,000 for damage to your property. If your property is in a high-risk flood area, you’re required to purchase flood insurance.

While no one wants to deal with flood damage, you’ll need to work with your insurance company to file a claim. It’s important to document the damage and file a claim as soon as possible.

Once an insurance adjuster assesses the claim, you can start repairs — or wait for the check to arrive. But as Paul and his wife discovered, that process doesn’t always go smoothly.

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

What to do if you run into a similar issue

First, try to stay calm. After a major storm, it’s natural to want to start repairs right away.

In the meantime, review your insurance plan to see if you’re eligible for additional claims or if more documentation might help your case. Insurance adjusters will let you know if more visits are required, which could delay your claim.

If your check bounces, contact your insurance company immediately and follow their instructions.

Use your damage estimate to start getting quotes from contractors.

If you can afford it — and if your insurer approves — you might choose to pay out of pocket while you wait for the check. If not, you may have to wait, assuming you can still live in your home. This experience may also be a chance to plan better for the future.

While you can’t avoid floods or property damage, you can better protect yourself financially. Consider setting aside savings in a separate emergency or disaster fund. That way, when the unexpected happens, you’ll have some cash to help you handle the situation.

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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.

Despite financial giants like BlackRock wading into the space, many investors still have trouble taking cryptocurrency seriously. And it’s not just the memes and quirky fans pushing people away.

In 2022, about 8% of U.S. adults called cryptocurrency the best long-term investment around. That number has been cut in half ever since the collapse of crypto exchange FTX wiped out nearly $9 billion in customer funds.

Now, just a few years later, crypto bull Kevin O’Leary says those kinds of debacles are a thing of the past.

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“All the crypto cowboys are gone. They’re all gone. They’re all in jail, they’re felons, or whatever it is,” he told the press in mid-May at the Consensus cryptocurrency conference in Toronto.

“They were the pioneers (but) they’ve got arrows in their backs … They didn’t play by the rules. And the regulators proved who won that fight.”

Mr. Wonderful says he has nearly 20% of his portfolio in crypto-related assets, including stablecoins, tokens and exchanges. His confidence is infectious, but curious investors still have to ask: Is the sun really setting on the Wild West era?

Is more regulation the answer?

O’Leary is intimately familiar with crypto fraud. He was a paid spokesman for FTX, and he claims the entire fiasco cost him millions.

“Now that that’s over, we can move ahead, and I think everyone understands the potential of this market,” he said.

While O’Leary likely didn’t mean to imply all crypto scams are finished — he seemed to be referring to embezzlement and fraud at trusted firms like FTX — he’s optimistic about the impact of two bills before Congress.

One is the GENIUS Act, which would require stablecoin issuers to hold a 1:1 reserve of cash or another liquid asset, amid other protections. The Senate is quickly moving towards a final vote on this legislation.

Stablecoins are a type of cryptocurrency that is pegged to another asset, usually the U.S. dollar. That’s why these digital currencies are considered more “stable” than other cryptocurrencies like Bitcoin. Proponents like O’Leary believe they will make global digital payments faster and cheaper.

The other piece of legislation is the market infrastructure bill that would define each individual asset as a security or commodity so that the appropriate regulator — either the Commodity Futures Trading Commission or the Securities and Exchange Commission — can oversee it.

Coinbase CEO Brian Armstrong blamed the FTX debacle on “the lack of regulatory clarity here in the U.S.” forcing American investors to use an exchange based in the Bahamas.

Ripple CEO Brad Garlinghouse agreed: “Brian is right — to protect consumers, we need regulatory guidance for companies that ensures trust and transparency. There’s a reason why most crypto trading is offshore — companies have 0 guidance on how to comply here in the U.S.”

But if Congress’s new regulations don’t end up being strong enough, they may just provide a veneer of legitimacy.

“While a strong stablecoin bill is the best possible outcome, this weak bill is worse than no bill at all,” Sen. Elizabeth Warren said of the GENIUS Act.

In a video posted this week, she called the bill "deeply flawed" because, according to her, it weakens consumer protections, lets Big Tech create and control their own money, and opens the door to more sanctions evasion. The Wall Street Journal recently reported on one example of a Russian man who allegedly used stablecoins to help his countrymen evade U.S. sanctions.

Safety also relies on consistent enforcement, and the Trump administration has made a number of turbulent changes as it tries to make the U.S. the “crypto capital of the planet.”

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

What about less regulation?

On stage at another crypto conference, Vice President JD Vance recently promised, “We fired Gary Gensler — and we’re going to fire everyone like him.”

Gensler was the last chair of the SEC, and in the absence of laws and regulations governing crypto, he strove to make the space safer for investors by suing companies for apparent wrongdoing.

Under new management, the agency reportedly moved its top crypto litigator to the IT department and has dropped cases against several major crypto firms.

The Justice Department has disbanded its National Cryptocurrency Enforcement Team and told prosecutors to only focus crypto investigations on drug cartels and terrorist groups. The Labor Department has told employers that they no longer have to exercise "extreme care” before they consider adding a cryptocurrency option to a 401(k) menu. Other regulators like the Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency have also rescinded crypto guidance.

As advocates for light and heavy regulation compete to push the sector forward in their own ways, critics are pointing out the potential dangers of an unleashed crypto industry on financial stability.

“Stablecoin legislation risks sowing seeds of a financial crisis,” said Alexandra Thornton, the senior director for financial regulation policy at the Center for American Progress, in an op-ed for Fortune.

“Stablecoins were supposed to leverage dollars to stabilize the chaotic universe of crypto. Instead, they seem set to infect the dollar-dominated financial system with the unique combined chaos of crypto and Mr. Trump,” wrote former Bank of England economist Dan Davies and Johns Hopkins professor Henry J. Farrell in an op-ed for The New York Times.

“The GENIUS Act folds stablecoins directly into the traditional financial system, while applying weaker safeguards than banks or investment companies must adhere to,” said Sen. Warren in her speech on the Senate floor. “Make no mistake. We are likely to see another financial crisis in the coming years.”

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• 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

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.

For many Canadians, spending in a foreign currency can be extremely costly, especially with the unfavourable currency exchange rate between the Canadian and U.S. dollar. There was a time when C$1 CAD was worth US$0.94, but today, that conversion is closer to US$0.70 (as of mid-May, one Canadian dollar converted to US$0.73).

This makes travelling to nearby destinations, like in the U.S., even more expensive, with many Canadians holding out until the dollar strengthens. Luckily, there are many places where the Canadian dollar can go further, and these destinations can be equally fantastic!

How much is the Canadian dollar worth?

Factors like the stability of the government, higher interest rates and energy prices can support or diminish the Canadian dollar. Canada once enjoyed support from strong energy prices helping keep the dollar strong, but today, these factors prevent it from strengthening. Other geopolitical factors like the war in the Middle East has weakened many currencies, including in Canada.

Today, C$100 is worth approximately US$73 or €68 Euros or £58 in Great British Pounds Stirling.

How to make the most of your money while travelling

While Canadians want to find the cheapest places to travel with the current state of the dollar, there are also some great tips where you can save several cents on the dollar by using a credit card that offers no foreign exchange fees.

If you are opting for physical cash, just be mindful that once you exchange your currency, you want to avoid changing the money back and forth as each time you convert, providers typically take a cut. If you plan to return to that country, you might be better off holding onto the cash or opening a foreign currency bank account to store the funds until your next visit.

Where the Canadian dollar is worth the most

Some of the cheapest places to travel with the Canadian dollar are mostly outside North America. Our recommendations take you away to a country you likely have yet to visit.

Hungary and Romania

While cities like Paris or Barcelona may be top of mind when you think of Europe, don’t pass up the opportunity to check out a new part of the vast continent. Hungary is a country in Central-Eastern Europe that many consider a hidden gem. It’s also one of the countries that has not adopted the Euro, keeping them more affordable than countries like France and Spain. That means as of mid-May 2025, your Canadian $1 converts to approximately HUF$265 – or Forint – an extremely advantageous conversion for Canadians.

As for the country, Hungary is rich in history, architecture and plenty of affordable local cuisine. Budapest, their capital, offers plenty to do during the day and night — be sure to check out one of their historic thermal baths along the way. If you visit Hungary, don’t pass up another top pick, Romania!

Romania is best known as the home to the legendary Dracula, and it’s easy to see why the stunningly beautiful country caught author Bram Stoker’s imagination. Towering mountains, plenty of castles and colourful, fairytale villages will captivate all types of travellers; whether you’re interested in hiking and the outdoors, history or just looking to explore somewhere off the beaten path. While prices vary throughout the country, you can find a nice, centrally-located hotel room in Bucharest for around C$100 per night or an Airbnb for C$30 per night.

Thailand

Airlines like Air Canada are now offering direct flights to Bangkok from Canada. Thailand is notorious for their cheap street eats and vibrant culture. Once you land and see the temples, taste the food and get a massage, you’ll be wondering what took you so long to get there.

Bangkok can be a bit overwhelming with its crowds and traffic, but it’s not like this all over the country. Chang Mai has a much slower pace of life where you can experience Thai culture, and if you head to any of the islands, it shouldn’t be that difficult to find your private paradise.

The best thing about Thailand is that you can enjoy yourself on any budget. You can easily get a basic room with a fan for less than C$20 a day, but you could also “splurge” on a 4 or 5-star property, which would only set you back between C$120 to C$250 per night. Pad Thai from a street vendor is about C$2, while meals at a restaurant catering to tourists shouldn’t cost you more than C$10 to C$15 per person.

Morocco

On top of an attractive exchange rate of C$1 to approximately 7.5 Moroccan Dirhams (as of mid-May 2025), the country is rich in history and geographic landscape like the dunes in the Sahara.

One of the many reasons Canadians visit Morocco is for the sprawling range of souks in Marrakech, with affordable leather goods and jewelry. Access an authentic hammam spa for the equivalent of C$2 or a massage for under $20 Canadian dollars. You can eat well without breaking the bank, with the friendly exchange rate taking you even further.

Argentina

Like the Canadian dollar, the Argentinian Peso has also struggled. While, a trip to Argentina has never been cheaper for Canadians, travellers need to be mindful of how the country’s hyperinflation and currency volatility impacts currency exchange. Argentina’s official rate differs widely from the ‘blue dollar’ rate — rates found in the market and among financial vendors. As of May 2025, C$1 is officially about 700 ARS (Argentinian currency), but real-world rates may be higher.

When you roam the streets of Buenos Aires, you’ll wonder if you’ve accidentally gone to Europe, with its charming cafe culture and museum scene. Oddly enough, the biggest tourist attraction in the city is arguably Recoleta Cemetery, where some of the most famous Argentinians are buried including, Eva Perón (Evita).

Most people who come to Argentina also take the time to visit Iguazu Falls, Patagonia or Ushuaia. These eco-adventures may not be cheap, but when you’re paying on average C$35 for a steak and wine dinner for two, you might as well splurge on a once-in-a-lifetime adventure.

Mexico

Closer to home in North America, Mexico is a winter favourite for Canadians, especially with its affordable activities, food and accommodation. With accessible flights from most parts of the country, cities like Cancun, Mexico City and Puerto Vallarta offer something for everyone.

In Mexico, you can experience everything from crystal clear waters, pristine beaches and stunning architecture, to cheap street eats and learning about the country’s rich history — all in one trip!

With C$1 converting to approximately 12.5 Mexican Pesos, the country offers tremendous value for Canadians looking for more bang for their buck. On top of that, for those who are looking to stay on guided tours, there are plenty of fantastic options that give tourists an authentic and safe experience.

Travelling abroad? Use the best credit card when making purchases

Just how far can your Canadian travel credit card take you? Many credit cards charge fees when making a purchase in a foreign transaction, which can become costly when you’re visiting a different country and using your card as your primary purchasing option.

Instead, consider using a credit card with no foreign transaction fees.

Bottom line

While getting away may seem out of reach at times, many pockets of the world are more affordable than going to New York or Miami. Look for cities with off-peak airfares, low-season accommodations, discounts on popular attractions or points of interest, or even buy-one-get-one deals.

Being a financially savvy traveller coupled with these money-saving currency exchange tips will help you soften the difficult dollar and will let you discover a hidden gem or two out there while at it!

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

Air Canada (TOR:AC.TO) is buying back up to C$500 million worth of its own stock through a substantial issuer bid, a type of buyback that gives shareholders a chance to sell their shares directly back to the company at a premium. The deadline to participate is June 20, 2025.

If you’re a shareholder, you now face a choice: sell some (or all) of your shares back to the company, or hold on and wait to see what happens after the buyback.

Here’s what it means, in simple terms — with real investor input, and a breakdown of risks and strategies.

Air Canada’s share buyback offer

Air Canada (TOR:AC.TO) has launched a substantial issuer bid to repurchase up to C$500 million worth of its own shares, using a modified Dutch auction format. The offer opened on May 16, 2025, and will remain active until June 20, 2025, at 11:59 p.m. ET.

Under the terms of the buyback, shareholders can tender their shares for sale at any price within a specified range of C$18.50 to C$21.00 per share. The final price Air Canada (TOR:AC.TO) will pay will be determined based on the bids received, and all accepted tenders will be paid at that single final price — regardless of the individual bid amounts submitted, so long as they’re at or below the final price.

Why is Air Canada (TOR:AC.TO) doing this? The repurchase could reduce Air Canada’s total outstanding shares by approximately 7.4% to 8.4%, and potentially up to 10%, depending on how many shares are tendered and at what prices. The buyback is fully funded with cash on hand, meaning no additional debt will be used. According to the company, the primary objectives of the offer are to counteract dilution from pandemic-era financing, enhance earnings per share (EPS) by reducing the share count, and signal to the market that management views the current stock price as undervalued.

What is a modified Dutch auction?

A modified Dutch auction is a pricing mechanism where an issuer (like a company) allows investors to indicate how many shares they’re willing to sell and at what price within a specified range. The issuer then determines the lowest price that will allow it to purchase the desired amount of shares (or a smaller amount if not all are tendered). This price is the "clearing price," and all accepted shares are purchased at this price, even if tendered at a lower price within the range. A Dutch auction offers a bidding process to help determine a fair price in a share buyback.

Here’s how it works:

1. Shareholders decide what price they’re willing to sell their shares for—within a stated range (here, C$18.50 to C$21.00).
2. Air Canada (TOR:AC.TO) reviews all the bids and picks the lowest price that lets them buy back the full C$500 million worth of shares.
3. All accepted shares are bought at that one final price—even if you bid lower.

Using this pricing strategy encourages shareholders to offer a realistic price rather than shooting for the top.

Synopsis: What’s happening with Air Canada share buyback

Pros of participating

Sell Above Market Price: Right now, AC shares are trading around C$18.50 to C$19.00. If the final buyback price is higher, you could get a premium.

No Open Market Hassle: This is a direct offer from the company, no need to time the market or use a broker to sell.

Shareholder Value Boost: Buying back shares means fewer outstanding shares. This lifts earnings per share (EPS), which can improve long-term stock performance.

Risks and drawbacks

Proration: If too many people want to sell, not all your shares may be accepted. For example, if you offer 1,000 shares, the company may only buy 400.

You Could Miss Gains: If Air Canada’s stock rises later this year, those who sold might regret selling too early.

Taxable Event: Selling your shares may trigger capital gains tax, depending on your purchase price.

What investors are saying

On Reddit’s r/CanadianInvestor forum, the response to Air Canada’s buyback offer has been mixed, with a range of perspectives from retail investors. Some users are optimistic, noting that the reduction in outstanding shares should lead to an increase in earnings per share (EPS), which could, in turn, support a higher stock price over time. They view the move as a vote of confidence from management and a positive signal that the company sees its shares as undervalued.

Others are more skeptical, questioning the structure and intent of the modified Dutch auction format. One user pointed out that this method is more complex and costly to execute compared to a standard open-market repurchase, and wondered whether it’s primarily being used to artificially create short-term demand for the stock. There’s also a practical, cautionary tone among some investors, who emphasize the importance of bidding carefully. They stress that because the final purchase price will be based on all the offers submitted, shareholders need to strike a balance—bidding too high might price them out, while bidding too low could leave money on the table.

Overall, the conversation reflects a thoughtful divide between those looking for a calculated exit and those considering the long-term benefits of holding onto their shares.

Strategy tips

A. Tender your shares (sell in the auction)

• Best for: Short-term holders or cautious investors wanting a clean exit.
• Tip: Bid closer to C$18.50 to increase chances of being accepted.
• Downside: May get partial fill due to proration.

B. Hold your shares (don’t participate)

• Best for: Long-term investors who believe in the company’s rebound.
• Benefit: Enjoy EPS growth and stock appreciation over time.
• Risk: Short-term volatility could return once the buyback ends.

Deadline: June 20, 2025

• You must decide by 11:59 p.m. ET on June 20, 2025. After that, shares go back to normal trading, and the buyback window closes.

Bottom line

This isn’t just corporate housekeeping — it’s a direct offer to investors. If you’re looking to reduce risk, lock in gains, or exit your position, this buyback provides a structured and potentially profitable way to do so. But if you believe in Air Canada’s longer-term upside, the share reduction could actually work in your favour by boosting per-share performance going forward.

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

A few years ago, your brother borrowed money to help pay for groceries for several months, and paid you back. But now, he finds himself short of cash again and you’re not sure whether you want to lend her more money.

Wanting to help out a friend or family member when they’re in a financial bind may seem like a no-brainer, but you need to be sure you’re also taking care of your needs as well.

For one, you want to make sure you have enough room in the budget to pay for your own expenses — and lend money. You may also need to mitigate other risks, like potential strain on your relationship.

Let’s take a closer look at these risks and how to responsibly lend the money, if you choose to do so.

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Emotional and financial risks of lending money

Even if you have extra money to lend to friends and family, you still want to be careful. Think about where you’ll pull the money from. Is it from sources like your emergency fund or money you’ve set aside for taxes?

Lending money that you may need yourself means potentially putting yourself in a precarious financial position. If the borrower doesn’t pay back your loan and you were relying on it, you’ll need to figure out how you can meet your financial obligations. It could mean taking out a loan yourself (and paying interest costs) or finding other ways to make up for the shortfall.

Even if you can afford to lend money, you risk your relationship becoming strained if the borrower doesn’t make payments as promised — or is unable to pay the loan back at all. It could get awkward at future social gatherings or even lead to feelings of resentment.

Still, you may decide that the risks are worth it or you’re absolutely sure the borrower will pay back what’s owed. Before handing over the cash, you’ll want to set some clear rules and guidelines.

How you can lend money responsibly

Before lending money, be sure you check that you can afford to. Setting clear expectations about the loans is also key.

Create a loan agreement

Creating a written loan agreement can help prevent any issues or miscommunication when lending money. At the very least, the agreement should outline the amount you lent and the repayment terms.

Other details you may want to put into the loan agreement could include:

• Interest rate, if you decide to charge one
• Repayment amount and cadence
• When the loan needs to be repaid in full
• What happens in the event the borrower can’t repay the loan

Share this document with the friend or family member before lending the money. That way, they can decide whether to agree to the terms. Having open and honest communication from the very beginning ensures that everyone can address questions or concerns about the loan.

Though it may cost you some money, having this document notarized signifies that you take the loan seriously.

Understand any tax implications

You are not required to charge interest on loans to family and friends in Canada, even if it does exceed $10,000. However, it is advisable to do so to avoid any dispute down the road. Keep in mind, any interest you collect counts as taxable income. While it’s up to you to determine how much interest you want to charge, many family members will use the prescribed rate.

What is the prescribed rate for Canadians?

In 2025, the prescribed interest rate, as set by the Government of Canada, is 6%. This rate is set quarterly by the Canada Revenue Agency (CRA) and is used primarily for:

• Calculating taxable benefits on interest-free or low-interest loans to employees or family members.
• Determining interest on overdue taxes.
• Certain income-splitting strategies (e.g., spousal loans).

The prescribed rate can change with the Bank of Canada’s interest rate environment, so it’s important to check the CRA’s official prescribed interest rate page for the most current updates.

Be OK with saying ‘no’

Even though it’s an uncomfortable situation, you need to be prepared to say ‘no’ to requests to lend money to family and friends.

At the end of the day, you need to look out for your best interests. It may not be worth risking your financial security to help someone else, especially if it means you could be left in dire straits. Not lending to friends or family because you don’t want to risk ruining the relationship is also a perfectly valid choice.

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