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Gamification — the practice of adding in game-like elements into everyday tasks or education — isn’t a novel idea. But one BTS fan is making waves online after she used a Monopoly-inspired savings challenge to bank over $1,600 in just over a year to be able to see the group in concert.

TikTok user mercedes.pomerleau released a video showcasing her savings after over a year of saving using the “saveopoly challenge,” to get ready for the popular K-pop band BTS’ “OT7 comeback,” she says in the video.

The video currently has over 443,000 views and over 50,000 likes. People are clearly receptive to the idea of using a Monopoly-based savings game to help them reach their financial goals, especially for a short term goal like snagging optimal seats for a live show.

It might be fun at first glance, but is it effective?

How the ‘saveopoly challenge’ works

In a previous video from over a year prior, mercedes.pomerleau started her challenge with a BTS-themed savings box and a hand-drawn saveopoly board.

Her board resembles a standard Monopoly board with 40 spaces. The spaces for properties, railroads, GO, jail and parking locations all have dollar values of the player’s choosing. The chance and community chest spots have special rules such as “Roll a dice and multiply by 10” or prompt the player to roll another die for additional steps.

She would roll a dice every two weeks — to match her pay periods — and move her token the same amount of spaces.

Each time she landed on a spot she has to save the amount shown. For the community chest and chance locations, she would follow the instructions given and then save that amount. She kept a running log of her savings each time she rolled a dice.

Just as in the standard Monopoly game, certain properties near the beginning had lower values such as $30 or $50. In contrast, properties worth the most in the traditional game located near the end of the board prompted her to save $150 if she landed on them.

A benefit to using the saveopoly challenge is that you can create a board to uniquely fit your savings goals. Or, you can find a template online through stores like Etsy or use a template from Pinterest to get you started. Some variations include simpler community chest or chance rules, or adding in rules for utilities or railroad locations. The possibilities are essentially endless.

Should you try rolling the dice to save?

The evidence is clear that the saveopoly challenge worked for this TikTok user; Bear in mind, she admitted to putting some of her Christmas and birthday money into her savings, slightly skewing her results.

That said, the idea of creating a bi-weekly or weekly game to help you save is beneficial. Research from the Bayes Business School at City St. George’s University of London found that consumers that use “gamifying apps” to stow away money were able to save 20% more. Though the saveopoly challenge doesn’t necessarily involve an app, it does involve similar gamification elements that make saving money feel less like a chore and much like a conquest.

The challenge is also a helpful starting point for people new to saving. It gives you a simple roadmap to stick to with small, fun and incremental steps.

However, it’s important to note that using any sort of financial challenge includes creating a fair savings plan and keeping track of it every time you save. If you are saving for a large purchase, such as a home, this challenge might not work the best given its elements of randomness, but you can make changes to limit that.

While this game was used to save for concert tickets, it can be easily adjusted to save for smaller or larger purchases — simply increase or decrease the average dollar amount on each location to match your goals.

You can use a tool like a savings calculator to help you create some guidelines; If you’re looking for a more traditional spot to place your money, try a high-interest savings account.

So long as you have a robust savings plan in place and aren’t leaving your financial goals up to chance (pun intended), this Monopoly-inspired savings challenge is a fun way to get you into the habit of putting away money and not spending it. Feeling skeptical? Maybe you should try rolling the dice.

Sources

1. TikTok: mercedes.pomerleau (Apr 22, 2025)

2. Bayes Business School: Turning long-term savings goals into a game can increase consumer financial well-being (Jan 12, 2022)

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

Tucked behind wrought iron gates in Forest Hill, Yorkville and The Bridle Path, life hums along quietly for Toronto’s ultra-wealthy, and it’s a version of the city that few average residents will ever see, let alone experience.

While most of us are budgeting for our next grocery run or checking the TTC schedule, there’s another Toronto, one where grocery stores stock your fridge without you knowing, cottages are reached by private floatplane and social standing is as much about your art collection as it is about your dining table.

These insights come from a remarkably candid discussion on Reddit’s r/AskTO thread, where users swapped stories of Toronto’s richest and their surreal routines. The comments, though anecdotal, paint a vivid picture of a lifestyle that’s usually kept well out of public view, behind hedges, doormen and gated driveways.

Personal shoppers and key access groceries

According to Redditor u/Fun-Ad-5079, the wealthy don’t just buy luxury, they often delegate the entire experience. “A person goes to a store like Hermès for their client, to deal with a customer service rep whose whole job is to deal with personal shoppers.” That same commenter described a service at Pusateri’s where “they hand over a key to their house so that the grocery store can constantly come in and stock their fridge.”

Pusateri’s, one of Toronto’s most upscale grocers, confirmed to Toronto Life in 2022 that concierge-style services, including personalized grocery lists, pantry restocking and even in-home fridge organization, are indeed available for a very exclusive clientele.

It’s a level of convenience that stands in stark contrast to the reality most Torontonians are experiencing. Food inflation, while cooling slightly in 2025, has left a mark. According to Statistics Canada, prices for many essentials are still up over 21% since early 2022. For the average household, that’s meant more careful shopping, meal planning and prioritizing value over indulgence.

But for the city’s wealthiest, groceries are a background task, often completely invisible. A fridge simply stays full, curated to taste, no shopping list or trip to the store required.

While this may sound extravagant, it’s also a reminder of how differently time and daily routines are managed across economic lines. Where some families might carve out Sunday afternoons for errands and prep, others outsource it all, creating time for leisure, travel or other pursuits.

This kind of lifestyle isn’t about flaunting wealth so much as eliminating friction. And while it might seem far removed from everyday life, it offers a glimpse into how the other half not only lives , but navigates the city with a fundamentally different relationship to time, convenience and choice.

A second home, for guests only

Imagine owning not one, but two homes in one of the most competitive real estate markets in Canada, and using one of them strictly for entertaining. Redditor u/Automatic_Contract47 shared, “I have a client who has a second house in Yorkville just for entertaining his friends.” He added that the same client brings in Michelin-starred restaurants to cater family holidays.

It may sound like something out of a Netflix series, but among Toronto’s ultra-wealthy, keeping a secondary residence solely for hosting is more common than one might expect. In neighbourhoods such as Rosedale, Forest Hill and Yorkville, real estate isn’t just about shelter or even investment, it’s also about lifestyle design.

While most homeowners are contending with rising mortgage rates or limited square footage, Toronto’s most affluent families often treat real estate as a tool for flexibility and freedom. These extra homes can be used to host business associates, accommodate extended family or simply offer a change of scenery without leaving the city.

And it’s not just local. Many high-net-worth individuals quietly maintain properties in cities around the world — New York, London, Dubai and the Caribbean are common examples. It’s part of what some wealth advisors call a “global lifestyle portfolio,” where real estate functions as both a financial asset and a passport to privacy, comfort and exclusivity.

While this level of luxury may be out of reach for most, it offers an interesting perspective on how differently people use space when money is no object. For some, a second home means escaping the city; for others, it means opening their doors — in style — to a curated guest list.

The art of money — literally

For some Toronto elites, wealth isn’t just about consumption, it’s also about creation, though appreciation can be as much social as artistic. Redditor alexwblack shared an intriguing story about an affluent couple: “The wife… considered herself quite an accomplished visual artist.” While the work was described as “objectively poorly made,” it still sold for five figures, primarily to friends within her social circle.

“She’s probably making well over six figures annually from this charade,” the commenter joked. Her pieces now hang alongside works by established artists, which can help boost their perceived value in the closely knit art communities of Rosedale and other high-end Toronto neighbourhoods.

This phenomenon isn’t just about taste, it also has economic dimensions. In Canada, art can be a savvy investment. According to the Canada Revenue Agency, donating artworks to registered charities can offer significant capital gains tax advantages, encouraging collectors to strategically manage their portfolios through art.

For Toronto’s wealthy, art often functions as both a passion project and a financial asset, blending creativity, social signaling and investment. It’s a reminder that, in the city’s elite circles, value isn’t always what it seems on the surface.

Social clubs and ski resorts you’ll never hear about

Beyond the boardrooms and brunches, Toronto’s wealthy have their own exclusive playgrounds — social clubs and private resorts where membership fees can be as steep as the experience is rarefied. Redditor u/CSW11 summed it up: “Private social clubs, annual dues too. Yacht clubs, golf courses, wine clubs, etc.”

Places such as The Boulevard Club or the Rosedale Golf Club come with initiation fees that can top $30,000, and memberships are strictly by invitation only. These aren’t just venues; they’re private communities where relationships are forged over a shared appreciation for luxury, privacy and tradition.

And it’s not just the city. As u/red-et pointed out, Toronto’s elite escape to “private ski resorts in the winter.” This isn’t your typical Blue Mountain weekend getaway. We’re talking about private heli-skiing charters and ski hills owned collectively by a select few families, offering seclusion and prestige that go far beyond the public slopes.

These hidden social circles highlight how Toronto’s wealthiest not only live differently but play differently, in spaces and experiences that most of the city might never even know exist.

Floatplanes, filet mignon for dogs and doctors on call

Wealth has a way of transforming even the most everyday tasks into something extraordinary. Redditor futuresobright shared, “My friend said he’s never shovelled a driveway in his life,” highlighting how luxury often means delegating chores that most of us tackle ourselves.

Another Redditor, tayims, described a family that hasn’t driven to their Muskoka cottage in “like 15 years,” instead opting to charter floatplanes directly from Billy Bishop Airport. “On big weekends they will charter about 3 or 4 trips up and the same back for guests,” making what many consider a long weekend getaway feel effortless.

And then there’s the finer, more surprising details of this lifestyle: dogs eating filet mignon, as Top_Currency_6204 noted, weekly visits from live pianists and florists (Fun-Ad-5079) and even a wealthy couple who hire their doctor to travel with them on vacation (Hanlans_Dreaming).

These anecdotes offer a glimpse into how the ultra-wealthy blur the lines between convenience, indulgence, and care, turning everyday moments into experiences that feel more like a luxury service.

Not just new money: Generational influence

When we think of Toronto’s wealthy, it’s easy to picture flashy displays and fast fortunes. But the city’s “old money” operates with a different kind of quiet power — one built on deep relationships and lasting influence.

One Redditor shared a vivid story about their friend’s grandmother, a longtime patron who generously donated to institutions such as the Royal Ontario Museum and the University of Toronto. “Her dinner parties were brilliant,” the user recalled. “She would show up on a Friday night without a reservation at a super fancy place… and the head chef would come out and hug her.”

This anecdote highlights a key layer of Toronto’s wealth: It’s not just about money, but social capital that’s been cultivated over generations. It’s the trust, respect and connections that open doors, smooth paths and create a legacy that extends well beyond bank accounts.

In Toronto, generational wealth quietly shapes the city’s cultural and philanthropic landscape, weaving influence into institutions and communities in ways new money often can’t replicate.

The hidden currents shaping Toronto

At first glance, this peek into the lives of Toronto’s wealthiest might seem like nothing more than harmless curiosity. But understanding these hidden worlds reveals something deeper: how wealth quietly reshapes the city itself.

From soaring property values and philanthropic power plays to exclusive healthcare access and tax strategies, these subtle luxuries ripple across Toronto’s urban fabric in ways most don’t see. They influence everything from neighbourhood dynamics to cultural institutions, creating layers of experience within the same city.

So the next time you pass a discreet Yorkville doorway or spot a floatplane gliding over Lake Ontario, remember — there’s another Toronto beneath the surface. One that lives differently, moves differently and plays by a set of rules few ever glimpse.

Sources

1. Reddit: r/AskTO: What’s something the rich people in Toronto do that the average person has no clue about?

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

As more Floridians face evictions from mobile home parks, Kerrie Bacci is demonstrating how to stand your ground — even if that ground is owned by a huge property management company.

Bacci owns her mobile home in Shangri La Mobile Home Park in Largo, Florida. What she doesn’t own is the land it sits on. She leases her lot from Chicago-based Equity LifeStyle Properties, which owns 200 such parks in the U.S.

When the property management company served Bacci with an eviction notice, she took the matter to court and won. Her attorney Michael Hildebrandt, who helped her win, says too many people in similar situations don’t fight.

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“Most people in these parks don’t have the means or capabilities of defending these evictions properly, so they wind up giving up their homes,” he says. “They wind up moving out. They wind up selling their homes to get away from the problem.”

Bacci shared her story — and the power of speaking up — with WFTS Tampa Bay.

Property manager’s backlash against resident

Bacci believes she was targeted after she complained to the property management company about the dumpsters near her property. She said the area wasn’t being maintained.

“I had to go out three to five times a week and wash it down," Bacci said.

She erected a sign in the dumpster area without management’s approval. The property management company cited her for that. Then it cited her for other violations, including installing an intercom speaker and having planters and reflectors extending over the property line onto the sidewalk.

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

The property manager also issued a violation citing her for “disturbing the peaceful enjoyment of the community.”

“They want everyone under their thumb, in check, doing what they say,” Bacci commented.

Bacci had an altercation with the local property manager who arrived at her home and started measuring her lot without her consent.

The Florida Residential Landlord-Tenant Act states that a landlord needs to give “reasonable notice” (typically 24 hours) before entering a rental property.

Bacci captured the confrontation on camera as a police officer arrived. Bacci told both the property manager and officer to leave — and they did.

“No one should have to go through that," she said of the confrontation. “I was in my own home.”

The next thing she knew, Equity LifeStyle Properties served her with an eviction notice.

Judge rules against eviction

Lawyer Michael Hildebrandt represented Bacci at an eviction hearing and the judge ruled in her favor.

When asked about the eviction complaint and ruling, Equity LifeStyle Properties issued a statement that read: “the judge in the hearing ruled in Ms. Bacci’s favor because management stopped issuing additional rule violations once a 30-day notice to vacate was posted.”

It also said the company hoped Bacci would continue to follow community rules and regulations so that “further legal proceedings can be avoided.”

As WFTS reported, the Florida Department of Business and Professional Regulation has investigated Bacci’s complaint about Equity LifeStyle Properties and forwarded it to the Office of the General Counsel for review.

Hildebrandt said other people who live in Equity LifeStyle Properties mobile parks have reached out to him.

“I’ve been contacted by people as far as the east coast of Florida that are dealing with the company that owns these parks,” he said.

Tenants need to know their rights around evictions, whether they lease land in a mobile home park or an apartment.

Protect yourself from unlawful evictions

Look up your state’s landlord-tenant laws. As Jacksonville Legal Aid reveals, Florida has specific laws that apply to the eviction of residents in mobile home parks.

In Florida for instance, a landlord can send an eviction notice if a tenant didn’t make any attempts to correct an issue within seven days after being asked to do so.

You can protect yourself by making sure you keep the home or lot you lease in good condition and that you do not unreasonably disturb other tenants.

A tenant may have a right to withhold rent if the landlord has engaged in unlawful behavior.

If you receive an unfair eviction notice, you may need to provide documentation indicating how they’ve violated their end of the rental agreement.

Since rules around evictions and tenant rights can be complex, it’s wise to do as Bacci did, and seek the advice of a reputable attorney.

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

For a while, it looked like mortgage rates in Canada were finally settling into a more affordable pattern. Fixed rates had been drifting downward, and variable rates were looking more attractive — especially as rate cuts seemed like a matter of “when,” not “if.”

But the tide has turned. As of early May, both fixed and variable-rate mortgages have started shifting in ways that may surprise borrowers.

If you’re planning to buy a home or renew your mortgage in the coming months, here’s what you need to know about what’s changed, why it’s happening, and how it could affect your wallet.

Check Out: What are the best current mortgages rates in Canada

Fixed rates are rising, and variable rates aren’t the deal they once were

The clearest sign that the market is changing? Fixed mortgage rates are heading back up, after having remained stubbornly high as variable rates came down. Just a short time ago, insured five-year fixed rates had dipped as low as 3.64%. Now, those same rates have climbed by 10 to 20 basis points. That may not sound like much, but over the life of a mortgage, even small rate increases can have a noticeable impact on what you pay.

It’s not just insured mortgages seeing a bump. Conventional, or uninsured, fixed rates are also trending higher.

“We’ve seen a steady worsening for a while now,” Ron Butler of Butler Mortgage told Canadian Mortgage Trends, referring to the growing pressure on fixed-rate pricing.

And while variable rates haven’t increased in the traditional sense (the Bank of Canada’s prime rate remains at 4.95%), the discounts that lenders offer off that rate are shrinking. Major banks such as CIBC and Scotiabank have trimmed their variable-rate discounts by 10 to 15 basis points in recent weeks. That means new borrowers will now pay slightly more for variable-rate mortgages than they would have just weeks ago.

According to Butler, this shift is strategic. “The big banks want to cover their bets in case there’s a sudden rate move that leaves them in a bad spot,” he explained.

What this means if you’re buying or renewing your mortgage

For those looking to enter the housing market, or renew an existing mortgage, the new rate environment introduces some fresh decisions and trade-offs.

Thinking about a fixed-rate mortgage?

If you’re someone who values predictable monthly payments and wants to lock in a rate now, a fixed-rate mortgage still offers that peace of mind. But be prepared: The rates you’re seeing today are a bit higher than they were a month ago.

Still considering a variable rate?

Despite shrinking discounts, variable rate mortgages may still come out cheaper over the long run, especially if the Bank of Canada begins cutting rates later this year. Borrowers who can handle some financial uncertainty and aren’t stretched by changing monthly payments may still find variable-rate mortgages to be the most cost-effective option over time.

Looking for a middle ground?

Some borrowers are now leaning toward shorter-term fixed mortgages, like three-year terms. This strategy offers some stability in the short term while keeping the door open to refinance sooner if rates do start to fall.

Learn More: Find out if it’s better to get a longer term mortgage or a short-term mortgage?

Stay informed, stay flexible

Canada’s mortgage market is shifting again, and quickly. For prospective homeowners and current mortgage holders, the most important thing right now is to stay informed and weigh your options carefully.

Whether you’re drawn to the security of a fixed rate or intrigued by the potential savings of a variable one, the right choice depends on your personal finances, your risk tolerance and your long-term plans.

And with lenders adjusting pricing strategies in real time, working with a mortgage broker or advisor can help you make sense of your options and secure the best deal available.

As the economy continues to evolve and the Bank of Canada adjusts course, your best mortgage strategy might look different than it did just a few weeks ago.

Sources

1. Canadian Mortgage Trends: Fixed rates are creeping up—and variable-rate discounts are shrinking too May 2, 2025)

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

With grocery prices soaring 3.8% year-over-year – more than double Canada’s overall inflation rate of 1.7% – your weekly shop is eating up more of your budget than ever before.

But following some smart credit card strategies could put an extra $1,465 back in your pocket annually, on groceries alone. Here are the most effective tactics to save money on your groceries that work right now.

1. Use a grocery rewards credit card

Cards such as American Express Cobalt (5% back) and Scotiabank Gold American Express (6% at Empire stores) deliver exceptional returns. For cash back, consider the BMO CashBack World Elite (5%) or Neo World Elite (up to 7% with Neo Everyday account and a $10,000 balance).

Check three things when choosing:

• Where you shop (not all stores qualify as “grocery”)
• Spending caps (BMO limits 5% bonus category to $500 monthly, for example)
• Whether annual fees justify the returns

2. Stack rewards with loyalty programs

Combine credit card rewards with store loyalty programs for double the benefits:

• PC Optimum and PC Financial Mastercard: Up to 45 points per dollar at Shoppers Drug Mart
• Scene+ and Scotiabank Gold Amex: Six points per dollar at Sobeys-owned stores
• Moi Rewards and RBC Moi Visa: Additional points on Metro purchases

Here’s a real-world example: A $222 grocery bill at Maxi could earn 42,800 PC Optimum points ($42.80) plus rewards from your credit card — a total return of 23%.

3. Use receipt-scanning apps

Apps such as Receipt Hog and Checkout 51 add another layer of rewards. Scan receipts within 14 days on the Fetch app for at least 25 points per receipt or use Checkout 51’s weekly offers for specific products. Combined with credit card rewards, savvy shoppers earn up to $400 annually across multiple apps.

Surprisingly, the day of the week matters significantly when using receipt apps:

• Thursday: Checkout 51 and Caddle refresh offers (shop Thursday afternoon for maximum overlap between expiring and new offers)
• Wednesday: Fetch often updates special brand promotions
• Weekends: Receipt Hog frequently runs bonus coin promotions

Even casual use of a single app can potentially generate $100+ annually in savings.

4. Buy gift cards at grocery stores

Purchase gift cards for other retailers at grocery stores to earn your card’s premium grocery reward rate on non-grocery spending.

• For example, instead of earning 1% at Home Depot, buy Home Depot gift cards at Sobeys with your Scotiabank Gold Amex for 6% back.

This tip is best for planned major purchases, but use it in moderation — excessive gift card purchases might trigger reviews from your bank (banks hate people “gaming” the rewards system, even though they aren’t really).

5. Time shopping with promotions

Shop during promotional periods to multiply rewards. Several Canadian credit cards offer a lucrative 10% cash back for new accounts, including:

• CIBC Dividend Visa Infinite Card
• SimplyCash Preferred by American Express
• Scotia Momentum Visa Infinite
• Tangerine World Mastercard

These bonuses typically run for around three months from your opening of an account and can be worth up to $200 cash back.

6. Use multiple cards strategically

Rotate cards to maximize benefits and work around spending caps:

• PC Financial World Elite at Loblaws stores and the BMO CashBack Mastercard elsewhere
• Scotiabank Gold Amex at Empire stores and the Tangerine World Mastercard elsewhere
• BMO Eclipse for 5x points until monthly cap, then switch to CIBC Dividend Visa

This technique generates 20 to 30% more rewards than using a single card according to research.

Read more: What’s the second best credit card (and how to choose it)

7. Don’t overlook price protection

If you’re not using price protection features on eligible credit cards, you’re leaving money on the table. This little-known benefit can be a game-changer for grocery savings.

Price protection is essentially your credit card’s promise to refund the difference if an item you purchase drops in price within a specific timeframe (typically 30 to 90 days after purchase).

This means that if you buy something at a regular price, you can potentially claim additional savings if prices drop further during clearance events.

Read more: Which credit cards offer the best extended warranty and purchase protection?

8. Shop through credit card portals

Access online grocery stores through your card’s shopping portal for additional rewards. For Canadians, PC Optimum offers bonus points when shopping through their portal for Loblaws, No Frills and other Loblaws family of brands stores. CIBC Aventura and Scene+ both feature grocery delivery services where you’ll earn extra points. AIR MILES collectors can shop through airmilesshops.ca to earn Cash or Dream Miles on grocery delivery from partners like Metro and Sobeys. RBC and TD also offer enhanced rewards when accessing eligible grocery delivery services through their respective portals.

9. Buy in bulk and split with friends

Pooling resources with friends or family for bulk purchases at Canadian warehouse stores such as Costco, Real Canadian Superstore or Wholesale Club can save you 27% on average compared to regular grocery prices according to a recent study by the Path to Purchase Institute.

Pool resources among your friends or family for bulk purchases to save 27% on average. Assign one person to buy using their rewards card, then split costs afterward using apps such as Splitwise, KOHO or e-transfers. This strategy turns an individual expense into a group savings opportunity. Plus, the apps keep everything transparent while ensuring the card-holding buyer earns all the rewards.

10. Redeem points for grocery gift cards

Convert credit card points directly into grocery gift cards. TD Rewards offers excellent conversion rates at approximately 200-250 points per dollar. You should always try to avoid generic gift cards, which often provide less value per point.

11. Track spending with credit card apps**

Your credit card’s native app categorizes spending automatically. Schedule weekly reviews to catch miscategorizations and identify savings opportunities. For deeper insights, specialized apps like YNAB ($20.89/month) or free options such as Spergel’s grocery budget tracker can break down spending further.

12. Use category bonuses creatively

Card issuers classify purchases by merchant category, not individual items. Because of this you need to be careful about where you shop.

Walmart Supercentres typically code as "discount stores" not "grocery stores," so unless you have the Walmart Rewards Mastercard, your grocery bonus won’t apply. Costco registers as a "wholesale club" and only accepts Mastercard. Shoppers Drug Mart codes as a pharmacy despite selling groceries.

Buy household supplies at grocery stores instead of big-box retailers, and make test purchases at different stores to discover how they’re categorized.

Conclusion

With the average Canadian household spending about $13,530 annually on groceries, using even half these strategies could potentially save you over $1,400 each year. That’s real money that you can then put back into your household budget.

Remember the golden rule: Credit card rewards only benefit you when used responsibly. Paying your balance in full each month is the foundation of any successful rewards strategy.

Sources

1. Receipt Hog

2. Checkout 51

3. Path to Purchase Institute: Costco Is Canada’s Top Grocer, According to Dunnhumby

4. YNAB

5. Spergel

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

What would you do for love? It’s a question we’ve likely all asked ourselves at some point, especially if we’re in a moment of emotional desperation.

For Joanne Whalen from Whitby, ON, she was willing to give over $50,000 to a so-called psychic to fall in love with someone she met at a fitness club. In an interview with CTV News, she explains how it started when the psychic gave her a reading and told Whalen she could bring the man closer to her for $550.

Over the course of a year, Whalen repeatedly gave the psychic money to help increase her odds of finding love — ultimately to no avail.

Her story has prompted two other Ontario men to come forward with their supernatural misfortunes: one hoping to find love and the other cleansing demons.

Psychic scams continue

A man from Scarborough, Ontario, told CTV News he gave $75,000 to three different psychics in order to find love. Asked to be called Ray, the man stated he sought out a psychic to see if a woman he met online would be a good fit for him.

““He was telling me ‘The girl likes you very much,’” Ray said in an interview with CTV. The psychic further claimed that he could make the woman become madly in love with him for $12,000. Ray married the woman he met online, but their marriage was apparently fraught with difficulties.

The psychic Ray consulted continued to ask for money to ease these relational issues. It isn’t clear how their relationship is now, but Ray feels financially burned by the event regardless. “I was really scammed by these guys you know,” he told CTV.

Another man, who asked CTV to refer to him as HJ, was told by a psychic that he was manipulated by demons. “The psychic told me whatever demon was in me or my family would be removed,” HJ told CTV.

The so-called seer continued to ask for money, adding that the demons would be purged and HJ would win a large jackpot to top it off — only if he paid.

HJ did pay the psychic, doling out over $80,000. It’s a choice he regrets deeply.

“I’m an idiot, I’m sorry. I feel like an idiot. Total idiot. I let this thing happen to me,” HJ said in an interview.

Both Ray and HJ told CTV the decision to pay these psychics has ruined their finances and they aren’t sure how they’ll come back from it.

Just another type of fraud

Detective David Coffey with the Toronto Police Financial Crimes Unit told CTV that psychic fraud is just like any other type of financial deception, and should be treated accordingly.

“They’re targeting vulnerabilities. When they are guaranteeing love or something else like that and charging a lot of money, it’s a false representation and that’s when it delves into the world of fraud.”

Coffey added that charging large sums of money and making unrealistic claims is illegal. “The criminal code is quite clear. Fraud is when someone uses deception to defraud another person,” he told CTV.

Under Canada’s Criminal Code, Section 380, individuals who use deceit, falsehood or other fraudulent means to take money from people could face up to two years in prison. If they seek to defraud the public by altering the price of “stocks, shares, merchandise or anything that is offered for sale to the public…” they could face up to 14 years behind bars.

Fraud, especially when it plays on vulnerable desires like love or fame, can cripple you financially. What can you do to protect yourself?

Don’t get played: How to recognize a psychic scam

Whether or not you believe in the abilities some claim to possess, it’s important to stay cautious — especially when you’re emotionally vulnerable or seeking guidance in matters of the heart. If you’re open to consulting a psychic, there are practical steps you can take to protect yourself from potential scams or manipulative practices.

• Do your research: The Canadian Anti-Fraud Centre (CAFC) recommends thoroughly researching any service provider before engaging with them. In the case of psychics, look for credible reviews, seek out past client experiences and examine whether their services align with what they claim to offer.

• Be wary of high-pressure tactics: The Government of Canada cautions against paying anyone who uses aggressive or threatening language to demand immediate payment. This can be a red flag, not just in psychic services, but in any kind of financial transaction. Legitimate professionals should give you time and space to make decisions.

• Question big promises: The CAFC advises using common sense when evaluating claims. If someone offers miraculous results — especially in exchange for large sums of money — take a step back. If it sounds too good to be true, it often is.

You don’t need to believe or disbelieve in psychic abilities to benefit from protecting yourself. A healthy dose of skepticism, some due diligence and trusting your instincts can go a long way in avoiding emotional and financial harm.

As Meat Loaf once sang, “I would do anything for love, but I won’t do that.” Let “that” include falling for a costly promise with little to back it up.

Sources

1. CTV News: Whitby woman wants refund after giving psychic over $50,000 to help her fall in love (February 11, 2025)

2. CTV News: ‘I feel like an idiot’: Two Ontario men lose more than $150,000 to psychics (May 13, 2025)

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

When it comes to planning for retirement, having a firm grasp over your finances will allow those golden years to shine everbright.

For working Canadians who are partnered up, achieving the ultimate goal of a comfortable and prosperous retirement is a relay race. Savings and spending responsibilities are dually doled out, with someone being held accountable to uphold their end of the bargain.

However, for single person households, the financial buttress of a partner isn’t an option, which leaves the sole onus on one individual to create and sustain a lasting nest egg.

“If you are a single Canadian, retiring on one income can require even more purposeful planning,” said Adam Mamdani,VP, RBC Insurance, in conversation with Money.ca.

“With homeownership costs and living expenses rising, singles often need to take a different approach to long-term financial and insurance planning.”

Below, Mamdani breaks down what single Canadians need to be aware of when planning for retirement in a fickle economic environment, what insurance could safeguard your financial stability and the need for sound estate planning.

Facts about single people living in Canada

The Canadian single population is growing; According to Statistics Canada, in 2021, 4.4 million people lived alone, up from 1.7 million in 1981, representing a growing trend toward single living.

Mamdani notes how single homeowners are less likely than the average Canadian to have paid off their mortgage — 16% vs. 25%.

Additionally, single Canadians are less likely than the average Canadian to:

• Identify their financial needs for retirement (16% vs. 20%)
• Express confidence that they’ll have enough money during retirement (24% vs. 32%)
• Set aside money or insurance to pay for end-of-life expenses, including funeral costs, managing property and settling their estate (21% vs. 28%)
• Max out their RRSP contributions each year (4% vs. 12%)

Financial considerations for single Canadians and how insurance can help

Single people living in Canada often need to take a different approach to long-term financial and insurance planning.

“For example, if you are unable to stay in your home as you age, do you have the financial resources available to cover the costs of a long-term care home?” Mamdani asked.

“It also means that you’re handling all financial decisions yourself.”

First and foremost, when you are still employed and making the most of saving for your nest egg, it is important to have tools in place in order to protect your income.

Studies reveal how there is a high likelihood of missing work due to illness or injury, and this especially true for mental health concerns.

According to the Canadian Psychological Association, one in five people will experience some sort of mental illness in a given year, with at least 500,000 Canadians missing out on work due to mental illness every week. This amounts to a staggering $51 billion in losses in economic activity annually.

Because every dollar counts, safeguarding your income should be a key consideration for those looking to retire within the near future — enter, critical illness or disability insurance.

“Consider this analogy: What if there was a machine in your basement that printed money, and each day you went downstairs to access that money?” Mamdani asked.

“Would you protect that machine? Because it could break down unexpectedly, it could experience some problems and may not work effectively every day. You are that machine – you work every day to earn a living. You are the most important asset in terms of your financial portfolio, and you need options to protect that asset.”

Maintaining a constant payout during retirement

Having a steady and stable cash flow is the ultimate goal of retirement savings, yet many Canadians are fearful of the well running dry.

A recent BMO poll found that a staggering 76% of Canadians are worried they will not have enough money in retirement due to cost of living constraints.

However, there is an insurance product that can help ensure that can help buttress any RRSP, TFSA and other savings/investments that are funding your retirement: an annuity.

“When it’s time to transfer your money out of RRSPs or TFSAs, one option is to purchase a payout annuity,” Mamdani stated.

“At the time of purchase, your payments are locked in and you receive monthly disbursements for a consistent cash flow during your retirement years, without worrying about what the market does or where interest rates go.”

Thinking beyond retirement

While death is not a life event that someone wistfully anticipates, preparing for it, especially with regards to dependents or other loved ones, should be given some serious consideration.

No matter what your age, family structure or income is, we all leave something behind in the form of assets, investments or even particular costs, which necessitates the need for some form of life insurance.

“You can use life insurance to leave a legacy for loved ones,” Mamdani said.

“Ensure your end-of-life costs, such as funerals, rent/mortgage costs and legal fees, are covered quickly, and that paperwork like a will, list of financial accounts and policies, is in order to leave your executor and loved ones with an easy transition.”

This can also take the form of creating an inheritance plan in the form of a will, which is something a concerning number of citizens do not actively have in place.

According to the Angus Reid Institute, 50% of Canadians don’t have a last will or testament, as those with household incomes under $100,000 are twice as likely to admit they lack the assets that would push them to write a will.

Moreover, an RBC Insurance study found that only 15% of Canadians have a plan for how their money and belongings will be transferred to loved ones after they’re gone, which only increases to 24% for current retirees.

This becomes further complicated when dealing with single households in Canada.

“You may have dependents that you hope to leave in a financially secure position, or you may be considering who will care for your estate when you’re gone,” Mamdani said.

Having a life insurance policy and segregated funds have the unique characteristic of bypassing probate.

“This is essentially a legal process that can take several months or more than a year, while a court decides what happens to your financial assets and debts after you’re gone and who is authorized to act on your behalf,” Mamdani said.

Building an estate plan can seem quite tedious, but working with a financial advisor can streamline the process and lighten your workload.

Just make sure that you are receiving trusted advice by interviewing a few financial and insurance professionals to make sure they can map out your retirement and beyond.

“Find someone whom you can connect with, someone you can rely on and who has your best interests at heart,” Mamdani said.

“Then, regularly work with that person to plan your future and put together a financial roadmap for how you’ll achieve your goals.”

Sources

1. Statistics Canada: Living solo (Sept 29, 2021)

2. Canadian Psychological Association: Psychology Works Fact Sheet: Mental Health and the Workplace (May 29, 2024)

3. BMO: BMO Retirement Survey: Over Three Quarters of Canadians Worry They Will Not Have Enough Retirement Savings Amid Inflation (Feb 12, 2025)

4. Angus Reid Institute: Lacking the Will: Half of Canadians say they don’t have a last will and testament, including one-in-five aged 55+ (Mar 7, 2023)

5. RBC: Protecting tomorrow: RBC Insurance survey finds only 15% of Canadians have estate plans (Jan 14, 2025)

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

It’s easy to go overboard when you’re getting a new pet. Whether it’s supplies, toys or even clothes, some things are just too cute to pass up. But these things quickly add up, even if you try to stick to necessities. It’s possible to budget and plan for your new furry addition, and we’ve put together a list of expenses to plan for during that first year.

Canadians love their pets

Pet ownership in Canada has reached new heights, with about half of households sharing their homes with furry family members. According to the Canadian Animal Health Institute, that equates to 7.9 million dogs and 8.5 million cats. While these furry companions bring immeasurable happiness and joy to our lives, it’s important to recognize and plan for the financial responsibilities that come with pet parenthood.

The commitment extends far beyond the initial adoption or purchase costs. Pet parents need to provide essential care, including quality nutrition, regular grooming services, veterinary care and various other necessities. Statistics from Rover.com highlight a significant 12% increase in pet-related expenses since 2022, mainly due to inflation that’s caused everything from pet food to vet bills to go up in price, making financial planning more crucial than ever.

Fortunately, by being proactive, you can manage and reduce pet care costs.. By understanding and anticipating both immediate and long-term expenses associated with pet ownership, you can develop a practical budget that ensures your beloved companion receives the best care while maintaining financial stability.

If this is the year you’ve decided to bring home a pet, we’ve broken down the costs you can expect in the first year for a new dog or cat. We’ve focused on dog and cats for the purpose of this article as they are the most popular (and expensive) pets, but I do know there are other pets out there, such as bunnies and guinea pigs, that people love to have in their homes.

Bringing a new dog home: First-year costs

When you bring a new dog into your home, there are several initial expenses to consider. These one-time costs include both the price of acquiring your pet and essential supplies needed to provide proper care.

We’ll also cover the must-have items you’ll need before welcoming your new companion, including feeding equipment, grooming tools and walking accessories.

While these are typically considered one-time purchases, it’s important to budget for eventual replacements. Items may need to be replaced due to normal wear and tear, and puppies will outgrow their initial supplies as they mature into adult dogs. You may want to spend more on quality, brand name products that will last years instead of months. For instance, a well-made harness will cost more up front, but replacing it with a cheaper model every few months or years will add up over time.

You can expect to pay upwards of $5,000 to $7,000 in the first year of getting a puppy (it’ll be closer to the higher end if you’re purchasing a purebred puppy from a breeder, and of course, it depends on the dog breed).

You’re thinking to yourself “What? That much for a puppy?! But I’m planning to adopt, won’t that bring down the amount?” While most adoptable dogs are cheaper than ones from a breeder (plus, they come spayed or neutered), that’s just one piece of the puzzle. If you’re planning on bringing home an adult dog, it’s a bit cheaper — the price is more like $4,000.

Read More: A surprise trip to the vet can cost $1,000 or more. Don’t get caught off guard. See how pet insurance can ease the stress — and cost — of caring for fur babies. Protect yourself now

Here are just a few of the common costs that can come with the first year of puppy/dog ownership (these are approximate costs):

• Breeder costs: $1,000 to $4,500
• Adoption fees: $200 to $800
• Total veterinarian bills: Around $2,000
• Veterinary exams with vaccines: $500 to $600
• Neuter/spay: $750 to $1,200
• Microchip dog cost: $45 to $95
• Deworming medication: $70 to $80
• Pet Insurance: $600 to $1,800 per month
• Pet food: $1,100
• Grooming: $60 to $150
• Collar and leash: $50
• Bed: $30 to $70
• Crate: $100 to $300
• Obedience classes: $500
• Licence: $35

Additional costs to consider when owning a dog include pet care services like dog walkers or doggy daycare, especially if you work full-time out of the home. These services ensure your pet gets proper exercise and attention during the day. When planning vacations, you’ll need to factor in boarding facilities or pet sitting services, unless you opt for pet-friendly travel destinations.

Property damage is another financial consideration of dog ownership. Dogs may occasionally have accidents indoors, and puppies or anxious dogs might exhibit destructive behavior like chewing furniture or causing damage to flooring and carpets (I know this one too well). It’s important to budget for potential repairs or replacements of damaged items.

Bringing a new cat home: First-year costs

The financial commitment of cat ownership is less than that of dogs, with Canadian pet parents spending an average of $2,542 annually on their feline friends, according to Statista. First-time kitten parents should prepare for higher initial costs compared to subsequent years of cat ownership. The Ontario Veterinary Medical Association reports that the first year of kitten care typically costs between $3,091 and $3,231. This higher first-year expense is due to one-time purchases and essential medical procedures that set your kitten up for a healthy life.

Here are just a few of the common costs that can come with the first year of kitten/cat ownership (these are approximate costs):

• Total veterinarian bills: $1,500 to $1,800
• Vaccinations: $500 to $600
• Spay/neuter: $600 to $800
• Microchip: $45 to $95
• Deworming medication: $70 to $80
• Peet insurance: $29 to $35
• Pet food: $500 to $700
• Collar: $20
• Bed: $50
• Scratching post: $40
• Litter and litter box: $275
• Licence: $15

Final word

It’s easy to get in over your head when it comes to the first year of pet ownership costs. But by planning ahead and budgeting, your new dog or cat will have everything they need when you welcome them into your home.

Sources

1. Canadian Animal Health Institute: Biennial pet population survey shines a light on how pet population statistics changed over the course of the COVID-19 pandemic, and pet owner habits.

2. Rover.com: Home page

3. Statista: Annual cost of caring for a cat in Canada

4. Ontario Veterinary Medical Association: Annual cost of caring for a cat in Canada

This article What to expect when you’re expecting: First year cost for petsoriginally appeared on Money.ca

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

Many Canadians are looking at their financial well-being in 2025 with at least some level of concern. A new H&R Block survey reveals 64% of Canadians are concerned that 2025 is going to be a challenging year for them financially.

"Many Canadians are feeling the pinch of higher costs-of-living and are looking to manage spending and seeking ways to put money back in their pockets. This includes embracing filing their taxes, with nearly two-thirds of Canadians who are expecting a refund this year," Yannick Lemay, H&R Block’s tax expert, said in a statement.

"The good news is there are more than four hundred tax credits and benefits that help Canadians minimize their taxable income and maximize their refunds, from childcare, education credits, dental benefits, Canada Workers Benefit, and health and wellness related expenses and many more."

In fact, over three-quarters (78%) of respondents to the survey say plan to reduce spending in 2025 due to the cost-of-living price pressures.

Financial issues facing Canadians

Overall, 92% of Canadians are concerned that the looming impact of tariffs will further increase the cost-of-living, and 81% are concerned tariffs will negatively impact their finances.

Around two-thirds of Canadians worry about spending within their means, whereas around a quarter are more focused on living their best life. Overall, 63% say they live comfortably at their income level; conversely 32% struggle to make ends meet each month.

Some relief can come from tax refunds. Nearly two out of three Canadians expect a refund this year, of which 35% indicate they’re expecting the same or a bigger refund this tax season compared to previous years. However, according to the H&R Block release, a large portion of Canadians report having no idea whether or not they’ll get a refund.

By extension, more than a third of Canadians don’t feel they have a good understanding of all the new tax credits and benefits to maximize their return this year. Just under a quarter of respondents report being part of the gig economy, of which 27% aren’t clear on tax implications of any gig-related income.

What are Canadians spending their money on?

The top three expenses by percentage of monthly income are day-to-day essentials (which accounts for 27% of Canadians net income), rent and mortgage payments (24%) and credit card and loan payments (14%).

The remainder of the top 10 Canadian expenses looks like this:

• Childcare related costs: 10%
• Technology and subscriptions: 10%
• Health and wellness : 8%
• Put towards savings account: 8%
• Entertainment: 7%
• Food take-out and delivery services: 6%
• Apparel: 6%

Just over a quarter of Canadians (27%) say they are frugal with their money as they are focused on saving up to buy a home in the future. However, a third take the opposite viewpoint, feeling they may as well enjoy spending, since buying a home seems out of reach.

Survey methodology

The survey was conducted by H&R Block from Feb. 12 to 13, among a representative sample of 1,469 Canadians in English and French.

This article Canadians not looking ahead in 2025 with rose-coloured glassesoriginally appeared on Money.ca

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

The Canadian housing market in 2025 is in unfamiliar territory: Price growth has slowed, listings are staying up longer and uncertainty is keeping both buyers and sellers in a tense standoff. With interest rates still relatively high and affordability at historic lows, many would-be homeowners are asking a question that feels more relevant than ever: Is now a good time to buy, or is it smarter to wait?

This very question recently sparked a heated and wide-ranging conversation on the /r/RealEstateCanada subreddit. The original poster in a thread titled "Is anyone else holding off buying right now to see how far the market falls?" shared their frustration over $1.4 million price tags for unrenovated homes in the suburbs and posed the question plainly: What if we all just waited? The responses revealed a country deeply divided on real estate — not just as an investment, but as a way of life.

Waiting it out: “I just can’t justify the trade”

For some, the math simply doesn’t work right now.

“I just can’t justify trading my $2,000/month rent for a $4,000/month mortgage,” wrote u/Hello_itsme-. “I do want to enter the market, but I want to be financially responsible about it. Meanwhile, I’m putting the extra $2K in investments.”

This sentiment is grounded in reality. According to RBC’s latest Housing Affordability Report, it now takes 60% of a household’s income to carry a mortgage on an average home, near record highs. Even with prices softening in places like Toronto and Vancouver, affordability hasn’t significantly improved because higher borrowing costs are offsetting price declines.

But not everyone sees renting as the better deal. u/kguenett countered that “a significant portion on that $4K goes into an asset that probably appreciates similar to stocks.” It’s a classic rent-vs-buy debate — one that depends on time horizon, risk tolerance and location.

“Prices won’t drop much more” vs. “brace for sesperation sales”

Some Redditors believe the floor has been reached. “Prices are not going to drop any more than they already have because no one is willing to take that much of a negative on their house,” argued u/WeHateArsenal.

But that’s not what everyone is seeing on the ground. Especially in Ontario, cracks are forming.

“Speaking for Ontario, I’m seeing LOTS of big losses here from people who bought at peak,” said u/Beginning_Paint7966. “Most will avoid if they can, but don’t forget about divorces, deaths, job loss, interest rate hikes… these situations cause more desperation.”

Their point? Sellers don’t always have the luxury of waiting. “Of course every seller wants top dollar, but if they can’t wait years to sell, and fewer buyers are willing to pay top dollar — then SOME sellers will accept a lower price,” they added. “And over time, that keeps decreasing comps.”

Indeed, the Canadian Real Estate Association (CREA) recently reported that national home sales were down 19% year-over-year in April, while active listings climbed 35%. When more inventory chases fewer buyers, prices often follow.

The danger of timing the market and missing the boat

Yet there’s a deep countercurrent of wisdom urging buyers not to try and outsmart the market.

“Every one of those buyers that was going to wait is now kicking themselves,” shared u/LadyDegenhardt, a real estate agent from Alberta. “They’d be sitting on $50K to $100K in equity today if they had bought.”

Her advice? “The right time to buy a house is when you are financially capable of doing so and want to move. Time in the market always beats timing the market.”

This is echoed by u/SavageTaco, who shared a cautionary tale: “I thought the same thing. Waited 4 years. Paid $100K more than I would have if I bought originally.”

Sentiment is shifting but so are the fundamentals

Redditor u/Tricky_Perception389 sees today’s market for what it is: a reckoning point. “Sentiment is truly bad in core areas like GVA and GTA,” they wrote. “Condos are showing the cracks first, but it’ll spill over. I still think there’s more downside coming.”

Their logic is grounded in macro forces. Household debt-to-income ratios remain among the highest in the OECD, and OSFI — Canada’s financial regulator — recently flagged mortgage renewals as a key systemic risk. Meanwhile, immigration and housing supply policies continue to add pressure and unpredictability.

Still, u/Tricky_Perception389 isn’t advising paralysis — they’re advising preparation. “If housing continues to slide a bit into more affordable territory… be ready. There’s a lot of sidelined people waiting with big cash savings.”

Know your ‘why’

The conversation on Reddit captures something deeper than numbers. It’s not just about when to buy, but why.

Is a home a place to live or an asset to maximize? Is the risk of waiting higher than the risk of buying in?

Real estate remains local, personal and emotional. But whatever side of the fence you’re on, one thing is clear: If you’re trying to time the Canadian housing market perfectly, you’re not alone, and you’re playing a game that even the experts admit is impossible to win every time.

As u/LadyDegenhardt put it: “Some people, particularly those that frequent Reddit, seem to have forgotten that a primary residence is a home first, and an investment vehicle in a distant second.”

Sources

1. Reddit: r/RealEstateCanada – *Is anyone else holding off buying right now to see how far the market falls?*

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