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  • Feed your fur-baby the best! Here’s a comprehensive guide to Canadian-owned/made pet foods

    Feed your fur-baby the best! Here’s a comprehensive guide to Canadian-owned/made pet foods

    Trump’s tariff trade wars are all over the news, and you’re determined to shop Canadian. Well, you’ll be happy to hear that your furry family members can do their part. We’ve put together a comprehensive list of Canadian pet food brands that make it easier to make the switch.

    To be considered for this list, pet foods must not only be made in Canada, but also be Canadian owned. That means brands such as Acana and Royal Canin didn’t make our list — that’s because even though this food is made in Canada, the brands are owned by a US parent company (in this case, Mars).

    You can buy any of these pet foods directly from the manufacturers’ websites, but if you prefer brick and mortar stores, you can try shopping at Pet Valu. This pet store giant is Canadian-owned and operated. As well, most of the local boutique pet stores in your neighbourhood are also Canadian-owned and operated.

    Canadian dry pet food (alphabetical)

    • 1st Choice Nutrition
    • Canadian Naturals
    • Carna4
    • FirstMate
    • Harlow Blend
    • Horizon Pet Nutrition
    • Lily & Jax
    • Nutrience
    • Nutram
    • Oven-Baked Tradition
    • Petcurean Gather, Go! Solutions and Now Fresh
    • Pronature
    • Vetdiet
    • Zoe

    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

    Canadian wet pet food (alphabetical)

    • Canada Fresh
    • FirstMate
    • Harlow Blend
    • Kasiks
    • Nutram
    • Nutrience
    • Oven-Baked Tradition
    • Petcurean
    • PetKind
    • Vetdiet
    • Zoe

    Canadian dehydrated or freeze-dried pet food (alphabetical)

    • Hurraw
    • Grand Cru
    • Puppy Love
    • Smack
    • Zeal Canada

    Canadian frozen raw pet food (alphabetical)

    • Big Country Raw
    • Bold by Nature
    • CarivoraBack2Raw
    • Healthy Paws
    • Iron Will Raw
    • K9 Choice Foods
    • Legacy Pet Foods
    • Pets Go Raw

    Did I miss any? If you’ve got one that I’ve missed, please let me know by dropping a comment down below, and I’ll add it to the list.

    This article Our comprehensive guide to Canadian-owned and -made pet foods originally appeared on Money.ca

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

  • ‘What’s wrong with a credit card if you pay the balance every month?’: Tucker Carlson asked Dave Ramsey that simple question — and was blown away by the Ramsey’s answer. Here’s why

    ‘What’s wrong with a credit card if you pay the balance every month?’: Tucker Carlson asked Dave Ramsey that simple question — and was blown away by the Ramsey’s answer. Here’s why

    We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

    Dave Ramsey is notoriously anti-debt. On several episodes of his podcast, The Ramsey Show, the financial guru has encouraged his callers to avoid nearly all forms of non-housing consumer debt, especially credit cards.

    In a recent interview with political commentator Tucker Carlson, Ramsey challenged the concept of credit cards altogether.

    “It’s fairly recent that it’s so pervasive, that it’s just necessary for life — and it’s not,” he told Carlson. “I don’t have credit cards; I haven’t in thirty-something years.”

    Don’t miss

    Carlson immediately asked Ramsey for an explanation.

    “What’s wrong with having a credit card if you pay the balance every month?” he asked.

    Ramsey simply replied: “Most people don’t.”

    He says that 78% of consumers with credit cards don’t actually pay the balance off every month.

    “Everybody talks about this theoretical discipline that they just freaking don’t have,” Ramsey said.

    Lack of alternatives, not discipline

    Credit cards are one of the most ubiquitous financial products in the country. According to recent data from the Federal Reserve, 82% of U.S. adults had at least one credit card in 2023, and by the third quarter of 2024, the number of credit card accounts had reached an all-time high of 600.53 million.

    Growing credit card debt is a sign of expenses exceeding income. Taking control of your spending and getting out of debt starts with having a clear, organized view of your entire financial picture.

    Monarch Money’s expense tracking system  makes managing credit card debt easier. The platform seamlessly connects all your accounts in one place, giving you a clear view of where you’re overspending.

    By linking your credit card accounts, you can monitor your payment progress in real-time and set specific goals to get out of credit card debt faster.

    For a limited time, you can get 50% off your first year with the code NEWYEAR2025.

    Getting control of your debt

    To stay disciplined with credit card debt this year, it may be a good idea to automate your monthly payments to avoid missed deadlines and late fees. According to LendingClub, the majority (68.4%) of Americans manually pay their balance off every month, which makes it easier to forget.

    Another creative way of managing your credit card debt is by making your everyday purchases work harder for you with Acorns.

    When you link your bank account, every time you make a purchase, Acorns automatically rounds up the amount to the nearest dollar and deposits the spare change in a smart portfolio. The portfolios are customized based on your risk tolerance and include ETFs managed by pros at the world’s top investment firms like Vanguard and BlackRock.

    Instead of these small amounts disappearing into impulse purchases, they’re collected and can be directed toward building savings.

    When you sign up now with a recurring deposit, you can get a $20 bonus investment.

    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

    Debt strategies

    You can also get a better idea of your net worth and create a detailed budget, allocating a portion of your income specifically to credit card payments — prioritizing high-interest balances first.

    Or, you could consider the debt snowball method for quick wins. On his website, Dave Ramsey recommends paying off smaller balances first because it’s more psychologically rewarding and therefore easier to sustain.

    Another option is consolidating your revolving debt with a fixed-rate personal loan from Credible.

    By consolidating your high-interest credit card balances into a single personal loan with between 6.94% and 35.99% APR, you could reduce your monthly payments and save on interest charges.

    Credible makes this process simple and easy. Instead of spending hours researching different lenders and filling out multiple applications, you can view and compare personal loan offers from various trusted lenders in minutes—all in one convenient place.

    What to read next

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

  • ‘Do the right thing’: Trump calls on Federal Reserve to cut rate to let tariffs ‘ease their way into the economy’. Here’s how interest rates and tariffs can impact your spending — and savings

    ‘Do the right thing’: Trump calls on Federal Reserve to cut rate to let tariffs ‘ease their way into the economy’. Here’s how interest rates and tariffs can impact your spending — and savings

    High interest rates have been battering consumers for years. And there’s been a lot of pressure on the Federal Reserve to lower its benchmark interest rate, since that should result in lower consumer borrowing costs across the board.

    But in March, the Fed opted to keep its benchmark interest rate steady. The Fed hasn’t nudged interest rates downward since late 2024. Its last rate cut happened back in December.

    That’s not sitting well with President Donald Trump, who has made it clear that he’s looking for the Fed to cut rates in short order.

    Don’t miss

    “The Fed would be MUCH better off CUTTING RATES as U.S.Tariffs start to transition (ease!) their way into the economy,” Trump wrote in a post this past Wednesday on Truth Social.

    “Do the right thing. April 2nd is Liberation Day in America!!!”

    On April 2, Trump rolled out a tariff initiative that focused on trade partners who the have what the administation has characterized as large imbalances with the U.S.

    How interest rates and tariffs affect the economy

    Both interest rates and tariffs can have a notable impact on the U.S. economy.

    Interest rates dictate how much it costs consumers to borrow money. They also determine how much it costs companies to borrow money to finance operations.

    When interest rates are higher, consumers tend to spend less. It’s for this reason that the Federal Reserve tends to raise interest rates during periods of higher-than-average inflation.

    Inflation commonly comes as the result of a mismatch between supply and demand. When there’s not enough supply to meet demand, prices tend to rise.

    By raising interest rates, the Fed can discourage consumers from spending. That, in turn, narrows the gap between supply and demand, causing prices to come down.

    Tariffs, meanwhile, can lead to higher costs for imported goods. If it costs more for U.S. supermarkets and retailers to source the products they sell, those higher costs are generally going to be passed onto consumers, resulting in higher prices.

    Of course, the hope is that U.S. companies will source more products domestically in light of tariffs. But that won’t necessarily result in lower prices.

    Quite the contrary — domestic goods are commonly more expensive to produce, which could lead to higher prices. In fact, the whole reason the U.S. is so heavily dependent on foreign trade partners is that it’s historically been more economical to source certain products than produce them domestically.

    In response to the expected impact of tariffs, the Fed raised its 2025 inflation forecast to 2.8% in mid-March.

    The reason Trump is pressuring the Fed to lower its benchmark interest rate is to make borrowing less expensive for consumers. Lower borrowing rates could potentially offset some of the higher costs that may result from tariffs.

    But lower borrowing rates could also fuel inflation by encouraging more spending. So, it’s easy to see why the Fed isn’t in a rush to go that route.

    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

    How to adjust your finances in today’s economy

    It’s hard to know what actions the Fed will take in the coming months, and it’s hard to predict the exact impact of tariffs on the average consumer’s wallet. But, there are some steps you can take to protect your personal finances given current circumstances.

    First, know that until interest rates come down, borrowing is going to be more expensive. So, 2025 may not be the best time to sign a new loan or refinance an existing one. You may instead want to focus on boosting your credit score so that if rates come down next year, you’ll be in a strong position to borrow.

    On the other hand, you should know that while elevated interest rates are bad news for borrowers, they’re great news for savers. Now’s a good time to put extra money into a high-yield savings account. You can also open a certificate of deposit (CD) if you have cash on hand you don’t expect to need for a period of time, which guarantees you the same interest rate until its maturity date.

    Given that there’s pressure on the Fed to cut rates, a CD could be a good bet. If interest rates fall, savings accounts are apt to start paying less. But if you lock in a CD at a given rate, your bank has to honor that rate.

    You may also want to boost your emergency fund given that economic conditions could potentially fuel a recession or cause stock market volatility.

    On March 13, the stock market entered correction territory for the first time in more than a year (meaning it fell at least 10% from a recent high, but less than 20%). Tariff policies, once implemented, could drive stock values down even more. So, now’s a good time to rebalance your portfolio as needed or potentially cash out some remaining gains if your emergency fund needs a boost.

    A recent U.S. News & World Report survey found that 42% of Americans have no emergency fund. While J.P. Morgan’s chief economist puts the chance of a U.S. recession at 40% this year.

    A recession could lead to widespread layoffs, which is why it’s important to have a solid emergency fund — one with at least three months of living expenses. A fully loaded emergency fund could make it easier to leave your stock portfolio alone in the event of market meltdown, sparing you from locking in losses due to needing cash.

    Of course, no one has a crystal ball, so it’s hard to know how things will shake out economically in the coming months. But, it’s best to prepare as best as you can by stockpiling some cash and being careful about taking on new debt. You should also make sure your investment portfolio is well diversified, to withstand potential turbulence.

    What to read next

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

  • Retirement is a balancing act — are your investments ready? A key adjustment could make all the difference. Here’s what you need to know before making changes

    Retirement is a balancing act — are your investments ready? A key adjustment could make all the difference. Here’s what you need to know before making changes

    Many people spend years contributing to their retirement savings in the hopes of building a sizable nest egg for later in life. You may have worked hard to grow your retirement account balance, too.

    If you’re planning to retire next year, now is a good time to review your portfolio and ensure your assets are appropriately allocated for your age. But what does that mean in practical terms?

    Your portfolio likely includes a mix of stocks (equities) and bonds (fixed income), and you may be wondering what the right balance is. Here’s how to figure out the optimal mix.

    The benefits of stocks vs. bonds in retirement

    Having both stocks and bonds in your retirement portfolio offers distinct advantages. While stocks carry more risk, they also tend to deliver stronger returns.

    The average return rate for stocks is 7% to 10%, whereas bonds have typically returned 3% to 5%.

    Maintaining stocks in your portfolio is important because you want your money to continue growing during retirement. However, bonds play a role in protecting a portion of your assets from stock market volatility.

    Unlike stocks, bond values don’t fluctuate wildly, providing stability — a necessity when you’re living off your investments. Bonds also offer to generate fixed income since they’re contractually obligated to pay interest.

    Stocks can provide income as well if you invest in dividend-paying companies. However, unlike bonds, companies’ stocks are not required to pay dividends, and even those with a solid history of doing so may opt to cut or eliminate those payments as they see fit.

    How to build the right investment mix

    How you allocate your assets before retirement may not be the same strategy you use during retirement — and for good reason.

    While you’re working, you have time to ride out stock market downturns because you won’t need to withdraw that money for many years. However, once you’re retired, you may need to tap into your portfolio regularly for income, requiring a more cautious investment approach.

    For this reason, it’s a good idea to keep the bulk of your portfolio in stocks during your wealth accumulation years. But as you transition into retirement, shifting a greater percentage into bonds can help manage risk and provide stability.

    Your specific allocation will depend on factors like life expectancy, risk tolerance and income needs. Some retirees prefer a 50/50 split between stocks and bonds, while others opt for a 40/60 split in either direction.

    A common guideline is the rule of 110, which suggests subtracting your age from 110 to determine the percentage of your portfolio that should be in stocks.

    • At age 40, this rule suggests keeping 70% of your assets in stocks
    • At age 65, a 45% stock allocation may be more appropriate

    Another popular strategy is the bucket strategy, which divides your portfolio based on different time horizons:

    • Short-term bucket: Holds conservative investments like bonds for near-term expenses
    • Medium-term bucket: Includes a mix of stocks and bonds
    • Long-term bucket: Primarily stocks for long-term growth

    It’s also important to maintain a cash reserve. Rather than allocating a fixed percentage to cash, a good rule of thumb is to keep enough to cover one to two years of living expenses. This allows you to avoid selling investments during a market downturn.

    Finally, your retirement portfolio doesn’t have to be limited to stocks and bonds. Depending on your income goals and risk tolerance, you might consider diversifying with real estate, such as a rental property.

    Consulting a financial adviser can help you develop a strategy that balances risk and reward — ensuring your portfolio meets your retirement needs.

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

  • Hardly any Canadians are properly reviewing their paycheques

    Hardly any Canadians are properly reviewing their paycheques

    For a lot of Canadians, payday doesn’t hit like it used to. However, not properly noting the necessary deductions off your paycheque certainly doesn’t help either. A new H&R Block survey revealed only 13% of Canadians are taking note of paycheque deductions for taxes, insurance and pensions.

    “We don’t typically learn about how to interpret paycheques or how to maximize your tax return at school,” Yannick Lemay, H&R Block Canada tax expert, said in a statement.

    “It’s important for Canadians to have the right conversations with the right people no matter what life stage they’re at to better understand their pay and tax situation, whether that’s at work or with a tax expert."

    Additionally, more than one in four say they don’t feel the need to review their paycheque information as they assume their employer is correct in their pay and any deductions.

    Canadians’ understanding of their paycheque

    Over one in ten Canadians say they have a good understanding of their income tax bracket and how much should be deducted for tax purposes on each pay slip.

    Just slightly less than that, 9% of Canadians say they feel confident that they would notice an error when it comes to tax deductions on their paycheques. This inevitably means that Canadians would also be challenged to review their T4s to ensure accuracy of tax deductions when it comes time to file their taxes.

    While there is a lack of Canada-specific data on this, H&R Block cited a global survey from international talent management company, Remote, showing just over half of employees said they had experienced a payroll issue in their career.

    The most common mistake among those that had experienced an issue was they were underpaid, and the second most common mistake was incorrect deductions.

    Time for tax season

    When filing their taxes, while 65% of Canadians believe they’ll get a refund this year (of which 35% anticipate they will get the same or bigger refund than prior years), a significant number of Canadians say they have no idea whether they’ll get a refund or owe money.

    Separately, 37% don’t feel confident in knowing how to leverage all available tax credits and benefits they may be eligible for, to maximize their refund.

    "Filing taxes is both a great way to save money and put money back in your pocket – in the form of a tax refund and access to credits and benefits," said Lemay. "There are a lot of changes this tax season that benefit Canadians.”

    Survey methodology

    The survey was conducted by H&R Block in French and English from Feb. 12 to 13, among a nationally representative sample of 1,790 Canadians members of the Angus Reid Forum

    This article Hardly any Canadians are properly reviewing their paychequesoriginally appeared on Money.ca

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

  • ‘Things have been tight’: North Texas food banks, farmers and families make tough choices in the wake of USDA food program cuts. What can be done to reduce food insecurity in uncertain times

    ‘Things have been tight’: North Texas food banks, farmers and families make tough choices in the wake of USDA food program cuts. What can be done to reduce food insecurity in uncertain times

    There are more food-insecure families in Texas than any state in the nation. The problem is acute in Dallas-Fort Worth, where one in seven — a third of them children — face hunger.

    "In North Texas, things have been tight,” Anne Readhimer, Chief Impact Officer for North Texas Food Bank, told CBS News. “Everyone is just needing a little bit more help these days.”

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    That’s why the axing of the USDA’s Local Food for Schools Cooperative Agreement Program and Local Food Purchase Assistance Cooperative Agreement Program (LFPA) hits hard.

    Readhimer said the food bank and schools in North Texas relied on these programs to get fresh produce to those in need.

    "We’re still waiting to get a better understanding of how we’re going to make up for it.” she said.

    The impact on families, food banks and farmers

    In 2020, Readhimer’s food bank [received] $9.2 million through the LFPA program to buy fresh produce and meat from Texas farmers.

    That money isn’t there anymore. Readhimer said without it, the cuts impact local farmers, too.

    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

    Texas Agriculture Commissioner Sid Miller defended the USDA’s budget cuts in a press release,

    "These changes also provide an opportunity for states to assume greater responsibility in shaping their own programs," he said.

    Miller said Texas would continue to run its Farm to School and Farm to Food Bank initiatives, with less reliance on federal funding.

    Local leaders and food advocates note that the loss of USDA funding will definitely make it harder for schools to provide meals to the 250,000 children who rely on them for their daily nutrition.

    Improve food security in your community and at home

    The Trump administration’s cuts to federal food assistance programs highlight the challenge families across the U.S. face in eating nutritious meals on a budget.

    Here are some strategies to keep your food budget on track at home.

    Meal planning is key. Streamline your grocery list and avoid impulse buys by creating a weekly menu based on affordable, healthy recipes.

    Keep stock of what you have at home. Knowing what’s in your pantry and fridge and using it will cut down on food waste and unnecessary purchases.

    Be smart at the grocery store. Compare prices, buy in bulk, and choose store brands over name brands.

    Meanwhile, you can support your neighbors with their own food security by contributing to local food banks, whether by donating money, non-perishables or time as a volunteer.

    Business owners can partner with local farmers and suppliers and donate excess food.

    Companies that give employees access to nutritious food contribute to a healthier, more productive workforce overall.

    What to read next

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

  • Should you aim to die with zero? More Canadians gifting inheritance early and enjoying money now

    Should you aim to die with zero? More Canadians gifting inheritance early and enjoying money now

    Maybe you’ve heard the saying “shrouds have no pockets?” It means you can’t take your money and possessions to the grave. It’s a dark but real concept US businessman Bill Perkins, author of Die With Zero, is a big proponent of.

    The idea is that once you have saved enough to fund your retirement and give back to your family or even charities, then you should focus on memorable life experiences. Ultimately, having spent your money on experiences, you’ll leave no money behind.

    Leaving no inheritance may seem odd, but it is a trend that is growing. Beyond gifting your kids money for a house, it may be a smart way to transfer wealth from one generation to another, while avoiding potential taxes on estate assets.

    “I would say personally, in my business, it’s picked up over the last three to four years, during and post the lockdown,” says Treena Nault, CFP and financial advisor at IG Wealth Management.

    Giving the younger generation a ‘hand up’

    Back in 2021, a report published by IG Wealth Management found that the pandemic gave families time to reflect on their finances. The report suggested that lockdowns gave some people the opportunity to save more by cutting high-cost consumption spending such as travel and entertainment. With these savings, IG’s report suggested that families could be ready to help the younger generation with education, housing and starting new businesses.

    “I think the higher priority is giving a leg up to this younger generation that is living through a very high cost of living,” says Nault “…people say that they don’t want to give them a hand out, they want to give them a hand up.”

    Longer life, more expenses

    A longer average life expectancy is also complicating people’s desire to give more to their children while they are still alive.

    “As life expectancy continues to rise, the average length of retirement rises, and therefore, so does the cost of retirement,” Petrera added.

    In a 2022 study released by Edward Jones, respondents said the ideal length of retirement is now 27 years.

    “That’s three decades to plan and save for.”

    “A majority of respondents noted retirement is a new chapter in life rather than a time for rest and relaxation. Maintaining an active lifestyle comes at a cost, which again, must be planned and saved for appropriately,” Petrera said.

    That being said, a 2025 study from BMO found that 76% of Canadians are worried they will not have enough money during their retirement, so there is work to be done in terms of retirement preparation.

    Gifting or taking care of yourself

    Trying to help children in tough economic times, while making sure one’s needs are met, is a delicate balance for parents.

    “They have to plan it versus being very spontaneous about it,” said Nault.

    Nault says that if a client calls her to express the desire to give a child $100,000, her immediate response is to pause and reflect.

    “I’m not saying the client shouldn’t do that,” Nault elaborated, “But let’s actually delve into the client’s retirement and estate plan and see how this fits in because there are other considerations.”

    Nault advises parents to be fair and not give one child more than the other, all in hopes of avoiding familial feuds.

    Is it better to die with zero?

    So is it better for a person to die with zero and pass assets to children as gifts while they’re alive?

    “Well, that’s pretty hard to plan,” said Nault.

    Instead, the financial advisor offers advice she gives to her clients.

    “If you’re gonna die with assets, die with a tax-free savings account fully topped up because the tax-free savings account can go to your spouse or to your children, or anybody else, quite frankly, tax free,” adds Nault.

    Petrera too expressed the complicity of this decision.

    “Most Canadians cannot predict how long they’re going to live. If you’re planning to die with no money, you run the risk of outliving your money,” Petrera said.

    “On the other hand, we also see Canadians that consider dying with too much money as a risk too.”

    At the end of the day, it’s a personal decision and each situation is different.

    “For some people, that is absolutely their goal (dying with zero),” said Petrera.

    “But others might want to plan to leave their legacy at death, such as a gift to a loved one or a donation to charity. And others might want to leave enough to repay debts, funeral costs, or other end-of-life expenses.”

    Sources

    1. IG Private Wealth Management: Family Matters (2021)

    2. Edward Jones: Edward Jones study: Retirement is evolving, and Canadians need to adjust to keep pace (July 6, 2022)

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

    This article Should you aim to die with zero? More Canadians gifting inheritance early and enjoying money noworiginally appeared on Money.ca

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

  • Trump’s Canada-Mexico 25% tariffs are now raising prices for car parts. Will your auto insurance increase, too?

    Trump’s Canada-Mexico 25% tariffs are now raising prices for car parts. Will your auto insurance increase, too?

    You may be aware that President Donald Trump’s tariff war with Canada and Mexico will see Americans paying more for consumer goods, but have you considered the cost of services will also rise?

    According to a February report from Insurify, the cost of full-coverage car insurance in the U.S. could increase by 8% on average this year if Trump persists on 25% import tariffs on car parts made in Mexico and Canada.

    Don’t miss

    Plus, with Canadian steel and aluminum facing the same tariff, the price of manufacturing auto parts in America could also skyrocket.

    The cost of auto parts is a major factor in the final price of your auto insurance. The car industry in the U.S. is highly reliant on our neighbors to the north and south, as the U.S. imports roughly 32% of its total auto parts from Canada and Mexico, according to data cited in the Insurify report. Imports of finished cars and trucks from Canada and Mexico also account for a fifth of all vehicles sold.

    Tariffs on your transportation

    Increasing insurance costs may not be the only headache, as demand for cars produced domestically will see automakers expand their workforces, and add to the final cost of the vehicles they make.

    They’ll also have to absorb the higher cost of steel and aluminum imports, which will likely be reflected in car prices, too.

    Whether you’re buying a new car or repairing a used one, the cost of parts will make transportation more expensive for Americans. Demand for cars made domestically may also increase if imports become prohibitively expensive.

    USA today reports that according to Wolfe Research, tariffs could make the average cost of a new car rise by about $3,000.

    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

    Rising costs for insurance

    In February, the American Property Casualty Insurance Association reported that approximately six in 10 auto replacement parts used in U.S. repair shops are imports from Canada, Mexico or China. With higher costs for these auto parts leading to increased costs for insurers, premiums will rise accordingly.

    According to a recent report from the Kelley Blue Book, the national average cost for car repairs is $838. With tariffs, this could put the cost for repairs well over $1,000.

    In spite of these rising insurance costs, remember that repairing your vehicle is often cheaper than leasing a new one. You can also save money in the long run through proactive maintenance, and the upfront cost of a comprehensive plan can be worth it if you’re involved in a serious accident.

    Speaking to USA Today, Insurify data journalist Matt Brannon projects that New York state will see the biggest increases in insurance rates this year, totalling $489 by the end of the year. Nearly a fifth, or $110 of that cost is directly attributed to tariffs, he reported.

    The good news? Brannon said that car owners probably won’t see increases in their insurance bill until the end of the year. Most insurers, he noted, have to be approved by state regulators to increase the cost of premiums. This process can take months.

    “We expect those price increases would show up when drivers renew their policies or switch to a new insurer, rather than in the middle of a six-month coverage period,” he said.

    You can get ahead of these anticipated costs by setting aside more funds in your savings, and starting to do some research to find a more competitively-priced policy for your auto insurance, so that when you renew you won’t feel it in your wallet.

    What to read next

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

  • Nearly 800,000 Oklahomans stressing over proposed Social Security cuts — as insiders warn of ‘system collapse’ within next 30 to 90 days. What to know about protecting your nest egg

    Nearly 800,000 Oklahomans stressing over proposed Social Security cuts — as insiders warn of ‘system collapse’ within next 30 to 90 days. What to know about protecting your nest egg

    About 800,000 Oklahomans depend on Social Security — and they’re wondering how proposed Security Social cuts could impact their retirement.

    “Oklahomans want to hear and make sure that Social Security is protected and saved, not only for them, but their children, grandchildren,” Sean Voskuhl, AARP Oklahoma state director, told Oklahoma’s News 4. “More than 22% of Oklahomans rely on Social Security as their primary source of retirement income.”

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    Now under Trump-appointed leadership, the Social Security Administration (SSA) is eliminating 7,000 jobs, significantly reducing its workforce, while closing several SSA offices across the country.

    And that leaves Oklahomans with questions.

    “Is Social Security going to be fully funded? Are people going to get their payments on time? And will there be people at the Social Security Administration offices to answer questions if people have them?” said Voskuhl.

    The impact of proposed Social Security cuts

    This comes at a time when a record number of baby boomers are reaching retirement age — a phenomenon referred to as Peak 65. And 2025 is the “peak” of Peak 65, with a record 4.18 million Americans reaching the traditional retirement age of 65, according to a research report by the Alliance for Lifetime Income’s Retirement Income Institute.

    “Unlike older retired baby boomers, the majority of Peak 65’ers don’t have pensions, which used to help fill that gap left by Social Security,” according to the report’s author, Jason Fichtner, executive director of the institute and a former chief economist at the SSA.

    That means cuts to the Social Security workforce are coming at a time when demand for its services are at an all-time high. Former Social Security Commissioner Martin O’Malley told CNBC.com in March that recent actions by Elon Musk’s Department of Government Efficiency (DOGE) are putting the benefit checks of more than 72.5 million Americans at risk.

    “Ultimately, you’re going to see the system collapse and an interruption of benefits,” O’Malley said. “I believe you will see that within the next 30 to 90 days.”

    Delays could be disastrous for many Americans. In one study, 42% of Americans aged 65-plus said they wouldn’t be able to afford basic necessities like food without their monthly check. For Americans about to retire, staffing cuts and office closures could lead to delays in processing their claims.

    At the same time, DOGE — which is helmed by unelected billionaire Elon Musk — is closing 47 local Social Security offices in an effort to save money. Musk has referred to Social Security as “the biggest Ponzi scheme of all time.”

    In Oklahoma, a total of 15 federal offices are on the chopping block, including the SSA office in Lawton. These closures will save an estimated $3.7 million, according to DOGE.

    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

    How to adjust your retirement savings

    From the get-go, Social Security was never meant to be the sole source of a person’s retirement income; rather, it was meant to supplement personal savings and pensions. But an AARP survey found that 20% of Americans aged 50-plus don’t have any retirement savings.

    The earlier you start saving, the better — but it’s never too late to start. And that may be more important than ever, with “the imposition of additional tariffs on imports from China, substantial policy uncertainty, sizable pullback in consumer sentiment and spending since the beginning of the year, elevated geopolitical tensions and federal spending reduction initiatives,” according to The Conference Board’s forecast for the U.S. economy.

    For those who don’t have a long-term financial plan, it may be worth sitting down with a financial advisor to create a strategy going forward (or to revisit your existing financial plan).

    That could include rebalancing into a more diversified mix of investments to include different industries, countries and risk profiles, as well as alternative investments such as real estate or commodities. It could also include mitigating some risk through dividends, in which companies pay distributions to shareholders based on profitability.

    Whether you’re saving for the future or close to retirement, you may want to explore your options for bringing in some extra cash, such as taking on a side gig. It may even be worthwhile to reevaluate your retirement plans. Maybe that means working a few more years before retiring, downsizing your home or moving to a less expensive neighborhood or city.

    Younger investors have more time to ride out a potential downturn in the economy; those closer to retirement may want to talk to their financial advisor about their options.

    What to read next

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

  • Economist Joe Brusuelas says the Fed’s recent projections ‘implied mild stagflation’ for the US economy — but will it be as bad as the ’70s? Here’s how you can still invest wisely

    Economist Joe Brusuelas says the Fed’s recent projections ‘implied mild stagflation’ for the US economy — but will it be as bad as the ’70s? Here’s how you can still invest wisely

    Most consumers are familiar with the concept of inflation — a broad increase in prices as purchasing power declines. But stagflation is a concept you may not have heard of.

    Economists coined the term to describe a period of slow economic growth, high levels of unemployment and stubbornly high prices. During stagflation (or stagnant inflation), prices remain elevated while the economy remains in a slump.

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    And the recent fear is that new tariff policies will fuel a period of stagflation in the near term that could lead to a recession.

    In a recent analysis of a March Federal Reserve meeting, RSM chief economist Joe Brusuelas said policymakers “implied mild stagflation ahead in the near term as growth slows and inflation increases,” according to Reuters. Brusuelas also noted the “pervasive uncertainty around the size and magnitude of the trade shock."

    Here’s why the fear may be a valid concern and what you may want to keep in mind when investing amid economic uncertainty.

    Why stagflation fears are mounting

    The last time the U.S. had to deal with a prolonged period of stagflation was during the 1970s, when a large increase in oil prices triggered a series of suboptimal decisions around monetary policy and ultimately fueled a recession early on in the following decade.

    Now, the U.S. economy is showing signs of "stagflation-lite,” the title of Brusuelas’ recent analysis, as a growing number of economists are projecting a slowdown in growth and an uptick in prices as tariff policies come to life.

    Of course, it’s worth noting that unemployment is fairly low. February’s jobless rate was only 4.1%. By contrast, during the mid-1970s, it peaked at 9%. For this reason, economists aren’t necessarily predicting a repeat of the stagflation that occurred in the 1970s, but rather, a more mild version.

    "I don’t see any reason to think that we’re looking at a replay of the ’70s or anything like that," Federal Reserve Chair Jerome Powell said at a press conference after a recent central bank meeting, according to Reuters. "I wouldn’t say we’re in a situation that’s remotely comparable to that.”

    But Americans should still brace for a period of economic uncertainty ahead — one that may lead to higher costs across the board and lessen buying power on the whole.

    In February, 63% of Americans said inflation is a big problem for the country, according to Pew Research Center. And in a February CBS News and YouGov poll, 77% of Americans confirmed that their income wasn’t keeping up with inflation.

    If prices continue to rise, it could push a lot of people into serious debt and have long-lasting impacts. So when it comes to investing for your future (if you can afford to do so), you’ll want to be extra careful with your approach.

    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

    How to invest wisely in times of economic uncertainty

    It’s hard to know what’s in store for the U.S. economy in the course of the next few months. But it’s important to financially prepare as best you can.

    That means making sure you have a solid emergency fund with enough money to cover three to six months of essential bills as a starting point.

    It’s also a good time to pay off high-interest debt if you can. The Fed is unlikely to lower interest rates anytime soon given current inflation levels and general economic uncertainty (though the central bank did recently signal that it sees two more cuts coming before the end of the year). This means your credit card balances in particular may be costing you a lot of money.

    We don’t know what unemployment levels will look like for the remainder of the year. But if you’re able to shed high-interest debt, that’s one less expense to grapple with in the event of job loss.

    Beyond that, it’s important to invest your money strategically. During periods of economic instability, the stock market can be very volatile. And it’s already been pretty rocky so far in 2025.

    So you may want to consider two things.

    First, make sure your risk profile aligns with your life plans. If you’re aiming to retire in 2026, now’s not the time to have 80% of your portfolio or more in the stock market. However, if you’re decades away from retirement, a more stock-heavy portfolio may be appropriate since you have many years to recover from near-term market turbulence.

    Next, make sure your portfolio is well diversified. This is important whether you’re close to retirement or a long way off. Loading up on S&P 500 ETFs gives you exposure to the broad market, and it’s a good option for people who don’t have the time or skills to research stocks individually.

    Given the potential for near-term economic shakeups, you may also want to add some recession-proof stocks to your portfolio. Certain health care and consumer staple stocks fit the bill, since these are things Americans may not be able to cut back on even if living costs rise or unemployment levels climb.

    You can also look at inflation-resistant assets like real estate or Treasury Inflation-Protected Securities (TIPS). TIPS are Treasury bonds whose principal value rises as inflation increases. However, TIPS should be used as more of a long-term hedge against inflation rather than a short-term hedge.

    Also be mindful of the fact that in the coming months, your portfolio value might swing. Try not to make rash decisions when that happens, like unloading assets at a loss. If you’re invested appropriately for your age, you should be able to ride out whatever storm is coming until the market eventually recovers.

    What to read next

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