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Like many Canadians dealing with the uncertainty of tariffs from the U.S. and rising prices, Steve Andrews from Burnaby, B.C., was on a tight budget when he decided to buy a used vehicle.

With a young family in tow, Andrews saw a registered Burnaby used vehicle dealership had a 2012 Subaru listed for a good price of $13,000 — with only around 98,000 kilometres to boot. "They said it was in very good condition, that there were no real problems," Andrews told CBC Go Public. "Everything seemed to be right about it."

But six weeks after he purchased it, the vehicle started having mechanical problems. Andrews took it to a mechanic who was suspicious about the low mileage. He advised Andrews to call a different Subaru dealership where a recall issue was repaired in 2020.

After the dealership reviewed their records, Andrews was notified the vehicle he purchased actually had 112,000 kilometres, not the 98,000 kilometres he was told. He brought the car back to the used dealer, DD Auto, who refunded him after seeing his report. They indicated the dealership had no idea of the odometer fraud and explained they were scammed themselves, though they did not give any more details.

"It was pretty shocking," Andrews said. "I was definitely angry."

Pointing fingers

A reporter from CBC called the manager of DD Auto, Charlie Zhao, to discuss what happened to Andrews. Zhao was dismissive of the investigation, stating that Andrews had been fully refunded and that a recent CARFAX report didn’t show any red flags.

"I don’t know why you need [to do] this investigation," Zhao told CBC, adding, "Things happen."

Zhao additionally claimed that the car Andrews purchased was removed from the dealership’s website once they were informed of the fraud. However, Go Public found that the vehicle was listed on the dealership’s site three weeks later. A producer of the show that visited the dealership disguised as a customer had a salesperson suggest to them the car’s mileage was low because the previous owner may not have driven it often.

When pressed, Zhao revealed that he mentioned the fraud in a morning meeting and perhaps the salesperson who tried to sell the car to the producer was not present in the meeting.

Zhao also said that DD Auto was selling the vehicle on consignment from another dealership, Easy Road Auto, based out of Richmond, B.C. Zhao claimed that Easy Road Auto purchased the car from a private seller with the odometer showing around 98,000 kilometres.

To connect the dots, CBC repeatedly reached out to Easy Road Auto and they eventually submitted a transfer form, showing the mileage of the vehicle at under 98,000 kilometres — but it was not dated, had no sale price and was not signed by the seller.

To make matters more complicated, CBC tracked down the original owner who told them that when they sold the car to Easy Road Auto, the mileage was, “around 150,000 kilometres."

A representative from Easy Road Auto said it takes the issue “very seriously” and has “conducted a thorough internal investigation.” However, no details about the investigation were provided to the media outlet. They also stated that it is typical for only the salesperson who purchases the vehicle from a private seller to be in contact with them. According to the spokesperson, that employee has “went back to her home country” and can no longer be contracted.

Currently, CBC Go Public has not seen the Subaru in question at the DD Auto since, and Zhao confirmed with the organization that it will not be sold to anyone. Instead, it will likely be rented out to a company.

With all this finger pointing and back and forth, this brings up a critical question: Who’s at fault?

Where the buck stops

To find out where the responsibility lies for the fraudulent odometer, a CBC reporter reached out to Shari Prymak of Car Help Canada, a non-profit that assists consumers buying used and new vehicles.

Prymak made it clear it isn’t illegal for a dealership to sell a vehicle with an inaccurate odometer, so long as they disclose it. "Dealerships are required to disclose certain material facts, [such as] whether a vehicle has been involved in a serious collision, whether it has a rebuilt or salvage title and whether it has a rolled back odometer, " Prymak said.

He added that dealerships are required to inform their salespeople and staff about the vehicles they are selling.

Prymak also clarified that the dealership showing the car to customers is responsible for finding out how the odometer fraud occurred and who is at fault, "because ultimately they will be held accountable.”

"A professional dealership that knows what to look for will often be able to identify if something is wrong."

Under the Weights and Measures Act, altering an odometer or replacing it without proper disclosure is an offence. Odometer fraud is also an offence under provincial legislation. In fact, the Vehicle Sales Authority of B.C. told CBC in a statement that a dealer found to have violated provincial laws could have its license revoked or suspended.

Odometer fraud rising according to experts

Andrews’ case is unfortunate and could have been a devastating financial hit if he didn’t get a refund. Unfortunately, his case isn’t the only one.

A spokesperson for the Ontario Motor Vehicle Industry Council (OMVIC), told CBC in a statement it believes odometer fraud "is on the rise," citing "many recent investigations" involving odometer tampering of some kind.

With digital technology being ubiquitous, changing an odometer is much easier than before, as analog odometers required manually adjustments. Now, digital odometers can be reprogrammed easily with an inexpensive device that plugs into a vehicle’s computing port.

"A click of a button" is all it takes, says Josh Ingle, an odometer expert, mechanic and owner of Atlanta Speedometer. "You don’t have to have any know-how, you just need to know how to select a vehicle on a screen," he told CBC.

How you can protect yourself

The tension between finding a deal from a private seller on social media or a used dealership instead of a major brand name is a palpable one. Q1 2025 showed a continued increase in demand for used vehicles, according to AutoTrader, with inventory facing bottlenecks. How can you stay diligent while still being fair to your budget?

For starters, Prymak recommends taking due caution when transacting with private sellers that aren’t regulated under provincial legislation and regulations. It’s up to you as the buyer to make sure you know exactly what you’re getting into.

“Check the ownership of the vehicle and also ask to see a driver’s licence and make sure that the two match," he said. "Because if the seller is not the owner of the vehicle, they could potentially be a curbsider — someone selling used cars illegally for a quick profit."

Doing proper due diligence also includes checking vehicle history reports, inspecting the vehicle closely and consulting with a local car mechanic, Prymak recommended.

For the Andrews family, they chose to move away from smaller dealerships and instead went with a larger company, settling for a 2020 Toyota RAV4 with only 40,000 kilometres. They also made sure to obtain sufficient documentation showing its full mileage and maintenance history this time around.

Andrews recognized that he paid a bit more for the vehicle overall, but his peace of mind was worth it.

Andrews’ story highlights a core tenant of personal finance wisdom. The cost of something is more than just the price tag — make sure you know exactly what you’ll pay before pulling out your wallet.

Sources

1. CBC: Dealership told him low mileage was due to single owner — but it was actually odometer fraud, by Erica Johnson and Ana Komnenic (May 12, 2025)

2. Government of Canada: Weights and Measures Act

3. AutoTrader: Price Index: Q1 2025

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

The return-to-office (RTO) movement is accelerating across Canada in 2025, with the Canadian federal government and major corporations rolling out RTO orders that are reshaping the work-life balance for thousands of employees.

Even large U.S.-based companies with Canadian offices, such as Amazon, Dell, JPMorgan Chase, Disney and BlackRock are pushing for increased in-office presence, leaving many workers scrambling to adjust to a reality that no longer prioritizes remote work flexibility.

The most recent announcement came from Canada’s top bank, Royal Bank of Canada (RBC). In a recent announcement, RBC will require employees to be in the office four days a week, as confirmed by a recent internal memo obtained by Reuters.

Some employers argue that returning to the office fosters collaboration and innovation, the shift is already creating new headaches for employees, particularly those in urban centres like Toronto and Vancouver.

With Canada’s largest bank now enforcing a near full-week office schedule, thousands more workers are bracing for a gruelling return to long commutes, packed transit lines, and increased daily expenses. Toronto, already one of North America’s most congested cities, could see a significant spike in travel times and transit delays as this new wave of office mandates takes effect.

Meanwhile, backlash is brewing among employees, many of whom had structured their lives around hybrid or remote work models. The added cost, time, and mental toll of commuting are emerging as major points of tension—raising new questions about work-life balance, employee satisfaction, and the long-term sustainability of rigid in-office policies.

RBC announces a return-to-work (RTO) mandate to start September 2025

RBC announced it will require employees to return to the office four days a week starting in September 2025. According to a company memo, the policy applies to most hybrid roles but excludes fully remote positions and those already based in-office full time.

RBC leadership cited the importance of “in-person, human connection” to its “relationship-driven” culture as the rationale behind the mandate. The bank emphasized that physical presence is key to collaboration, innovation, and maintaining a strong company culture. However, the announcement has triggered concern and pushback among employees, particularly around increased commuting time and associated costs.

Real reason for RBC RTO mandate

Critics believe the RBC return-to-office mandate is less about fostering culture and more about tightening control amid financial underperformance.

The RBC RTO announcement came just hours after RBC reported lower-than-expected second-quarter earnings, driven by rising loan loss provisions — a signal the bank is bracing for economic uncertainty.

Some employees suspect the leadership is using the office mandate as a tool to boost productivity and accountability following the disappointing results. According to some forum chats, internal chat groups have been buzzing with speculation that the move is a response to financial pressures rather than a genuine effort to rebuild workplace connection.

RBC is not the first to issue RTO mandates: A few big companies lead the RTO charge

Several global corporations with Canadian offices are implementing strict return-to-office policies.

Return to full-week (or almost full week) at the office

• Amazon: As of January 2025, Amazon mandated that all corporate employees return to the office five days a week, effectively ending the hybrid model introduced in 2023. There is dOffices in Toronto and Vancouver
• BlackRock: Employees of the investment firm must work at least four days per week from the office. Offices in Toronto
• Dell Technologies: Dell plans to end its hybrid work policy, mandating that employees near office locations return five days per week, beginning in March 2025. Offices in Toronto
• Disney: One of the faster companies to go back to an in-office work schedule, Disney employees returned to the office four days a week as per the statement made by CEO Bog Iger in 2023. Offices in Toronto
• Goldman Sachs: As of 2023, employees had to be back in the office full-time as corporate leaders emphasizes the office-first work culture. Offices in Toronto
• JPMorgan Chase & Co.: The banking giant has followed suit, requiring its hybrid employees to be in the office full-time starting March 2025. Offices in Toronto
• Twitter (X): Following the acquisition of X (formerly Twitter) by Elon Musk, the firm now requires all employees to work full-time from the office. Offices in Toronto

These changes signal a broader shift among employers, many of whom cite the need for stronger collaboration, improved company culture, and increased productivity as key reasons for pulling employees back into offices.

Hybrid return-to-work model

• Apple: Since September 2022, Apple introduced the 3-day-in-office schedule, where all corporate employees must work in the office on Tuesdays and Thursdays as well as on a team-chosen day. Offices in Toronto
• Canadian Federal Government: Since September 2024, public servants have been required to work at least three days per week in person. Offices in Ottawa and across Canada
• Deloitte: Employees can continue working with the hybrid model that was introduced in 2023. Offices in Toronto
• Intuit: Using a hybrid model where employees come into the office two to three days per week. To help with the costs associated with commuting, Intuit offers employees carpool ride matching, enhanced transit connections, and on-site amenities. Offices in Toronto
• Google: Google employees must be in the office for at least three days per week (and this return to work started in 2022). Offices in Toronto and Montreal
• Meta (Facebook): The social media conglomerate only requires employees to come in three days per week. Offices in Toronto
• Microsoft: Operates a hybrid work policy, which typically requires employees to come in for two or three days per week. Headquarters in Toronto
• Questrade: Operates a hybrid work policy, which typically requires employees to come in for one to three days per week. Headquarters in Toronto
• RBC: Issued a mandate for hybrid-employees to start returning to the office four days a week, starting September 2025. Headquarters in Toronto and offices across Canada
• Shopify: No mandate. This e-commerce giant embraced the remote work model and allows employees to work from anywhere. Headquarters in Ottawa
• Starbucks: The company has set a slightly more flexible three-day in-office requirement for corporate employees since January 2025. Offices in Toronto

Tough adjustment for employees

For employees in densely populated cities, the return-to-office mandates are likely to bring back pre-pandemic commuting challenges.

Commuting nightmares return

For instance, commuters in the GTA can expect a significant increase in traffic volume, with experts predicting longer commute times as thousands of professionals return to transit and highways during peak hours. The impact is expected to be felt across major transit networks, including GO Transit and the Toronto Transit Commission (TTC), both of which have been gradually adjusting services in expectation of RTO mandates.

For workers who moved to suburban areas during the work-from-home era, the abrupt shift back to daily commuting is especially daunting. Many will now need to reconfigure their routines, adding hours of travel time to their days and increasing expenses related to transportation and office attire.

Loss of work-life balance

Before the pandemic, work-life balance often felt like an elusive goal. Remote and hybrid work arrangements provided a newfound sense of autonomy, allowing employees to integrate personal responsibilities into their schedules, exercise more frequently and spend more time with family. Surveys indicate that a significant percentage of Canadian workers (79%) believe hybrid work positively impacts their well-being, with 70% stating that it has directly improved their mental health.

With full-time office attendance making a comeback, many workers are concerned about losing the flexibility that has become a crucial factor in job satisfaction. In fact, 81% of Canadian employees say flexible work arrangements influence their decision to stay with an employer or seek opportunities elsewhere.

Is there a silver lining? Claiming deductions for hybrid work

Despite the shift back to in-office work, there are still ways for employees in hybrid arrangements to find financial relief. The Canadian Revenue Agency (CRA) allows workers who perform a portion of their duties from home to claim tax deductions related to home office expenses. While employees mandated to work in-office five days a week may not benefit, those on hybrid schedules can still take advantage of these deductions.

Eligible employees may be able to deduct expenses such as:

• A portion of rent or mortgage interest (for those using dedicated office space)
• Utilities such as electricity and internet
• Office supplies, including computers, chairs, and desks

To qualify, employees must meet specific CRA criteria and obtain a T2200 form from their employer. While the deductions won’t fully offset the loss of remote work perks, they do offer some financial relief in the face of rising commuting costs.

Future of work in Canada

As companies continue to enforce return-to-office policies, the workforce is at a crossroads. While some employees welcome in-office collaboration, others view it as a step backward from the flexibility they have come to value. With the labour market still tight and talent retention a top priority, businesses that maintain hybrid options may find themselves with a competitive edge.

For workers adjusting to this new reality, strategic planning — such as negotiating hybrid arrangements, seeking tax deductions, and reevaluating commuting options — can help mitigate the impact of RTO mandates. While the work-from-home era may be fading for many, its influence on employee expectations will likely shape workplace policies for years to come.

Sources

1. Benefits Canada: 79% of Canadian employees report improved well-being due to flexibility of hybrid work: survey (Jan 22, 2025)

2. HRD: Most Canadian workers think 5 days in-office hurts wellbeing: survey (Jan 14, 2025)

3. Talent Canada: No longer a ‘perk’ – Canadians now expect flexible, hybrid work: Survey (Feb 16, 2023)

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

Delinquency rates on non-mortgage credit products in Canada have reached their highest levels since 2009, according to new data from Equifax Canada. The credit agency’s latest Market Pulse report shows that 1.4 million Canadians missed a credit payment in Q1 2025, a sign of mounting household financial pressure amid high interest rates and persistent inflation.

Equifax reports a 19.14% year-over-year increase in non-mortgage delinquencies, far outpacing the 3.79% rise in average non-mortgage debt, which now stands at $21,810.

While Equifax’s figures reveal a broad uptick in financial distress, an independent analysis by Money.ca provides a deeper look into the regional, generational and behavioural forces driving these numbers, highlighting the evolving financial vulnerabilities across the country.

Urban squeeze: Delinquency rates surge in Canada’s biggest cities

Money.ca’s research shows that the growing gap between rising debt and delinquencies is being felt most acutely in high-cost urban centres. In Toronto and Vancouver, delinquency rates jumped 24.16% and 19.00%, respectively. Both cities also saw above-average debt growth, 4.66% in Toronto and 4.53% in Vancouver, suggesting residents are increasingly relying on credit to cope with unaffordable housing and rising everyday expenses.

Montreal saw the largest increase among major cities at 27.06%, underscoring the pressure lower-income households face in a city where average debt remains below the national average at $16,894. Delinquency there is rising faster than in nearly any other metro, pointing to systemic strain tied to income stagnation and the growing cost of living.

These city-level trends reflect broader provincial patterns. In Ontario, average non-mortgage debt climbed 4.38% to $22,423, while delinquencies soared 23.78%, the second-highest provincial increase after Quebec, which saw a 24.16% spike.

Even in typically resilient provinces, the cracks are showing. Alberta, which carries the country’s highest average debt load at $24,555, saw delinquency rates rise 17.39%, pointing to the impact of economic volatility in resource-dependent regions.

In cities like Edmonton and Calgary, where debt remained relatively flat, delinquencies still surged by 18.88% and 17.23%, respectively, highlighting the widening disconnect between borrowing levels and repayment capacity.

Search trends show growing financial anxiety

While Equifax’s latest report offers a snapshot of Q1 2025, Money.ca’s year-over-year Google Trends analysis offers a behavioural window into how Canadians responded throughout the preceding 12 months. As economic pressures mounted, Canadians increasingly turned to the internet for guidance, and in some cases, last-resort solutions.

Interest in budgeting tools surged: Searches for "budget planner" rose more than 150% year-over-year, a signal that many Canadians are actively seeking ways to regain control of their finances before falling behind.

But the spike in online searches didn’t stop at budgeting. Interest in high-cost borrowing options such as "payday loans" — often a marker of financial desperation — jumped nearly 28%. At the same time, search volumes for “personal bankruptcy” and “garnishment” rose 4% and 6%, respectively, suggesting a growing number of Canadians are exploring legal or court-mandated debt solutions.

“These trends reveal a growing reliance on short-term credit and legal remedies as household budgets become more fragile,” a Money.ca spokesperson said. “But the sharp increase in budgeting tool searches also suggests many Canadians are trying to take back control before they fall deeper into debt.”

Equifax’s data reinforces this trend: Even with a modest 3.79% increase in overall non-mortgage debt, delinquencies have surged by more than 19%, indicating that Canadians are not just borrowing more, but struggling to keep up.

Together, the numbers highlight a financial turning point for many households, one where proactive planning and crisis management are unfolding in parallel, and often out of necessity.

Young adults and pre-retirees feeling the squeeze

Canada’s growing debt problem isn’t hitting all generations equally. According to Money.ca’s analysis, the financial strain is most acute at the bookends of adult life, among young people just starting out, and older adults approaching retirement.

Rebecca Oakes, Vice-President of Advanced Analytics at Equifax Canada, said in a statement that these trends point to “a more vulnerable consumer landscape,” as economic pressures continue to outpace income growth.

Delinquency rates rose 17.02% among Canadians aged 18 to 25, many of whom are juggling student debt, low wages and a rising cost of living. For this group, a single missed payment can quickly spiral into long-term financial trouble.

Canadians in their late 30s and early 40s, often balancing mortgages, car payments and childcare costs, saw the sharpest rise in delinquencies, up 24.40% year-over-year. This age group typically carries the highest financial burdens, and it shows in the data.

Pre-retirees (aged 56 to 65) were not far behind, with delinquencies rising 16.88%, alongside the largest increase in debt of any age group at 6.28%. As they try to shore up savings while still carrying significant debt, many are finding it harder to stay financially afloat.

Even retirees, who generally have the lowest average debt levels at $14,575, weren’t immune. Their delinquency rate rose 8.12%, as fixed incomes struggle to keep up with rising living and healthcare costs.

Across all groups, Equifax’s data confirms the broader trend: Non-mortgage delinquencies have risen 19.14% year-over-year, reaching levels not seen in more than a decade.

From first paycheques to final pensions, Canadians are finding it harder to keep up.

Outlook: Cracks in Canada’s financial foundation

Taken together, the latest data from Equifax and the behavioural trends analyzed by Money.ca point to a troubling shift: Many Canadians are nearing the edge of their financial capacity.

The growing gap between debt and delinquencies shows that credit is no longer a cushion — it’s becoming a crisis point. With inflation still high, interest rates elevated and wages failing to keep pace, the ability to manage even modest debt is slipping out of reach for many households.

Unless policymakers step in with targeted relief, such as enhanced debt management programs and broader financial education, delinquency rates are likely to keep rising.

“Canadians are clearly feeling the squeeze,” Julie Kuzmic, Senior Compliance Officer of Consumer Advocacy at Equifax Canada said in a statement. “This isn’t just about rising debt — it’s about the shrinking capacity to manage it.”

Sources

1. Equifax: Non-Mortgage Delinquencies Reach Levels Not Seen Since 2009 (May 26, 2025)

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

When Taylor Swift announced on May 30, 2025, that she had officially bought back the master recordings of her early catalogue, it wasn’t just a business deal, it was a cultural and creative reckoning. And it went far beyond her six albums. Swift regained full ownership of her early master recordings, unreleased songs, music videos, visual content and other materials that had been outside her control since the sale of her former label, Big Machine Records.

It was a move years in the making, fueled by legal insight, creative strategy and sheer will. It was also a moment of validation for herself, for her fans and for any creator who’s ever been told they couldn’t own what they built.

The backstory: when Taylor Swift lost control of her work

By 2019, Swift was already one of the most successful artists on the planet. She had millions of fans, record-breaking albums and global tours under her belt. But what she didn’t have was ownership of the work that made her famous.

That year, her former label Big Machine Records was sold to Scooter Braun’s Ithaca Holdings. Swift said she had long tried to acquire her masters but was denied a path to ownership that didn’t come with strings attached. Instead, her catalogue, including every song, recording and associated creative work from her first six studio albums was sold without her consent.

The public response was swift and intense. Swifties rallied. Fellow artists spoke out. But rather than fight in court, Swift took a different path. She started over, re-recording every track, releasing “Taylor’s Versions,” and taking back the narrative, one album at a time.

Then, in 2020, the rights to her catalogue were sold again, this time to private equity firm Shamrock Capital. And this month, in a deal reported by The Guardian and People, Swift bought it all back. Not just the albums. Everything: the music videos, album art, footage and previously unreleased songs. It was, finally, all hers.

Why this isn’t just a story for fans

Swift’s battle resonated not just because of who she is, but because of what it revealed. Even one of the most powerful entertainers in the world could lose control of her own work.

The situation is far more common, and often irreversible, for smaller creators and business owners. Musicians, developers, designers and startup founders can easily find themselves in contracts that give others control of their intellectual property (IP), especially early in their careers when leverage is limited.

Swift’s comeback isn’t just a feel-good ending. It’s a guidebook.

From music mogul to IP master: Lessons in creative control

1. Own what you build, or know exactly who does

If you’re an entrepreneur, your product, your brand, your technology and your content are intellectual property. It’s your value. Just like Swift’s songs and videos, your IP can be licensed, sold or leveraged — but only if you own it in the first place.

2. Nail the contract from the beginning

Susan Abramovitch, a partner at Gowling WLG and a leading Canadian entertainment lawyer, has long advised creators to take IP terms seriously. “Understanding the long-term implications of IP clauses is essential,” she wrote in an article examining Swift’s legal strategy.

Before you sign any deal, consult a lawyer who understands IP. It’s not just about fairness. It’s about future-proofing your business.

3. Losing control doesn’t have to be the end

Swift’s re-recording project wasn’t just about defiance, it was a legal and strategic masterstroke. By releasing new versions of her old music, she undercut the market value of the originals and redirected attention to the versions she owned.

That principle applies in other industries too. If you lose control of your brand or content, alternatives like rebranding, rebuilding or creating a better version can help reclaim your value.

4. Licensing can work, but it’s not ownership

Many startups and creators rely on licensing for growth, but it’s important to understand the limits. A license is temporary. Ownership is forever. When licensing your IP, keep the terms specific, renewable and within your control. Don’t hand over the crown jewels without a plan to get them back.

Swift changed the conversation on creator rights

Even legal scholars have taken note. “She fundamentally shifted the value proposition around master recordings,” said Professor Rebecca Greenstein of Harvard Law School. “Swift demonstrated that an artist can use market forces to regain power without ever going to court.”

She didn’t just buy back her past. She reframed the future for creators.

“You need to calm down”… but only after you make sure you’re legally protected

Not everyone can do what Taylor Swift did. It took millions of dollars, years of strategic planning and a devoted fanbase. But every entrepreneur and creator can take one critical lesson from her journey: Control matters.

If you’re launching a business, building a brand or creating something new, don’t wait to think about intellectual property. Protect it early. Fight for it if you must. And if you lose it, know that there may still be a way back.

Because owning your work isn’t just about pride. It’s about power, legacy and the freedom to decide what your future looks like.

Sources

1. Gowling: Never ever getting back together: Taylor Swift re-records back catalogue (September 3, 2019)

1. Harvard Law Today: Taylor’s Version of copyright (April 23, 2024)

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

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

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

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

What are inverse ETFs?

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

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

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

Benefits of inverse ETFs

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

Risks and considerations

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

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

Understanding inverse ETFs

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

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

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

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

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

The role of the VIX and volatility ETFs

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

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

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

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

How can Canadian investors use inverse ETFs?

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

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

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

Key takeaways

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

Is investing in inverse ETFs right for you?

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

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

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

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

— with files from Romana King

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

Small business owners have enough to deal with, between making customers happy and maintaining a positive cash flow. But an entrepreneur in Phoenix trying to save money got more than he bargained for.

Anthony Perez, who owns A to Z Auto Detailing, was looking for a new credit card processing company. He says about 95% of his customers get their bills via email.

“We submit invoices to our customers, they pay online,” he told AZ Family’s On Your Side in a story published April 15.

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Perez, like many other business owners, pays a fee to a credit card processing company for each transaction. So, when a company called Synergy Payment Solutions told him it could save him money on transaction fees, he jumped at the opportunity.

Initially, everything was fine. Until Perez received something in the mail.

“The issue came when they had sent equipment which I didn’t request,” he said.

What happened when he refused the equipment

Perez says he was sent a physical card processor, which he doesn’t need because nearly all of his customers make payments online. What’s more, his business location at the bottom of an office tower isn’t suited for the equipment Synergy Payment Solutions uses.

“We don’t get very good Wi-Fi signal down here, which is what’s needed to actually operate the system,” he said.

On top of that, Perez says he was charged to lease the equipment — a total of $3,120 over four years.

Perez says he tried explaining things to Synergy Payment Solutions and refused to pay the leasing charge. His account was then sent to collections.

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On Your Side reached out to Synergy Payment Solutions to investigate. The company told reporters that it resolved the issue back in February, and they “agreed to close the account as well as his equipment agreement.”

Perez says he was never notified his account was closed, nor was he asked to return the equipment. In any case, he’s hopeful the situation has reached a conclusion.

Avoid being hit with unexpected fees

Running a business means staying on top of every aspect of your operations, including unforeseen fees. It pays to dig into what you’ll be paying, even if a vendor or company charges you less than another competitor.

To avoid paying more than expected, be clear about your needs with the company you’re dealing with. For example, if you’re signing up for marketing services, outline that you only need help with writing email newsletters or setting up social media ads, and nothing else.

Be sure to read the fine print of any vendor contract after you’ve negotiated what service or products you need. Note any terms you may agree to and what they could cost.

Bring up any questions or concerns you have before signing the contract. Otherwise, you may end up agreeing to pay for something you weren’t fully aware of. Also, note any other costs, such as cancellation fees, so you know what you may need to pay if you break the contract.

Unfortunately, unexpected fees may not always be avoided. That’s why it’s critical to monitor your business spending and investigate any changes.

Being proactive can open to door to working with the company you’re dealing with to resolve any issues efficiently. You could tell representatives that you weren’t made aware of additional charges, and see if you can get them removed or pay a lower amount.

If you’re responsible for extra charges, a business emergency fund can be handy. Setting aside a buffer means you can easily pay for additional expenses without disrupting your business.

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

Parents in Houston were left fuming after a local designer failed to deliver on custom prom dresses for their daughters, with one mother saying she’s out thousands of dollars due to the debacle.

Kewana Jones Harvey’s daughter, Kiya Harvey, had been looking forward to senior prom for years, and as a mother she wanted to pull out all the stops.

“It was like so much we put into that particular day to make sure everything was perfect,” Jones Harvey told KHOU 11 News in a story published May 20.

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That included paying a local designer named Rocky Boston to create Kiya’s dress, according to the local broadcaster. Everything seemed to be going to plan up until the big day. The dress was supposed to be dropped off at Jones Harvey’s house, she says, but it never made it out of the designer’s studio.

Kiya ended up missing the prom.

“I was more than heartbroken,” she said.

The dress was in pieces

Jones Harvey says the designer was booked in August and her daughter even went to fittings. They were told the dress would be ready. But when 5 p.m rolled around on the day of prom — the promised time of delivery — all communication from the designer stopped. Two hours later, the designer’s mother called.

“Rocky seems to have dropped the ball,” Jones Harvey recalled the designer’s mom saying.

Panicking, Jones Harvey raced to the designer’s studio and says she discovered her daughter’s dress in pieces. She also saw other parents there who were wondering about their daughters’ dresses.

Jones Harvey told KHOU 11 News she had shelled out $2,500 for the custom dress, plus an additional $8,000 for every other prom detail.

“We saved money up for two years to make sure that everything went according to plan,” she said.

A refund was issued for the dress, she says, but the rest went down the drain, and she’s hoping to recoup some of it.

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Other parents shared they either received a refund or were promised one, and one family said they were considering legal action, according to KHOU 11 News. The broadcaster says it made multiple attempts to contact Rocky Boston before the designer stated she had no comment.

Jones Harvey claims that Rocky made a now-deleted Instagram post saying, in part, she “would never intentionally ruin anyone’s special moment.”

How consumers can protect themselves

Leah Napoliello, vice president of operations at the Better Business Bureau (BBB) of Greater Houston and South Texas, explained to KHOU 11 News that one of the best ways consumers can protect themselves when making large purchases, such as those made by Jones Harvey, is to get all communication in writing and to not pay the full amount up front.

“We recommend no more than half and then only pay the full amount once the whole dress is completed,” she said.

This way, if you don’t get what you paid for, you may only be out the deposit.

Before putting down a deposit, be sure to get in writing when you can expect what’s being promised. Ask for a contract to clearly outline the terms of the sale and what you might be owed if the business doesn’t complete your order on time.

It’s also worth it to take the time to look up online reviews from other customers about their experience with a company to see if they’re reliable.

If a business is listed on the BBB, reporting problems may help to get a complaint resolved if you can’t come to an agreement with the company itself. Other options include reaching out to your state’s consumer protection office.

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

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

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

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

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

How the nightmare unfolded

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

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

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

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

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

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

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

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

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

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

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

The financial toll of being tricked by love bombing

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

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

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

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

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

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

Sources

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

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

This article Ottawa woman accuses husband of ‘love bombing,’ leaving her $300K in debtoriginally appeared on Money.ca

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

Invest, save and then invest some more. This is the advice many Canadians receive when seeking a financial plan – the specifics of the investments and savings notwithstanding. But current market volatility may be putting somewhat of a damper on those thoughts of financial independence. Almost half (48%) of all respondents in the annual RBC Financial Independence Poll agreed their key investing concern is market volatility and investment performance.

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

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

Investing across the provinces

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

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

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

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

Generational differences in Canadian investors

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

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

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

Survey methodology

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

Sources

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

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

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

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

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

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

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

Long history of licence renewals with no issues

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

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

How New Brunswick enforces old suspensions

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

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

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

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

Recourse and possible steps to rectify the situation

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

Sources

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

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