Business lost thousands to 'friendly fraud' scheme
A small BBQ retailer in Ontario is feeling burned after having to refund a customer who purchased a brand new barbeque, but stated they never received it. Chuck Shabsove, president of Capital BBQ, told CTV News that his company had organized delivery for the new barbeque to a client who requested it be dropped off by the back gate. After the delivery, the customer claimed they never received the barbeque, despite there being a valid receipt, proof of delivery and a registered warranty showing the client’s personal information. Ultimately, the customer went through their credit card company and requested to reverse the transaction. They were successful, and now Shabsove is out both the barbeque and $3,000. “He registered the grill and so we have definite proof that he got the product, the serial number matches the invoice, but he denies that he got it, and the credit card company sided with him,” Shabsove told CTV. Shabsove’s experience isn’t a one-time event either. It’s a type of theft, called 'friendly fraud,' growing across Canada that, despite the name, isn’t amicable in the slightest.
A small BBQ retailer in Ontario is feeling burned after having to refund a customer who purchased a brand new barbeque, but stated they never received it. Chuck Shabsove, president of Capital BBQ, told CTV News that his company had organized delivery for the new barbeque to a client who requested it be dropped off by the back gate. After the delivery, the customer claimed they never received the barbeque, despite there being a valid receipt, proof of delivery and a registered warranty showing the client’s personal information. Ultimately, the customer went through their credit card company and requested to reverse the transaction. They were successful, and now Shabsove is out both the barbeque and $3,000. “He registered the grill and so we have definite proof that he got the product, the serial number matches the invoice, but he denies that he got it, and the credit card company sided with him,” Shabsove told CTV. Shabsove’s experience isn’t a one-time event either. It’s a type of theft, called 'friendly fraud,' growing across Canada that, despite the name, isn’t amicable in the slightest.
I’m 54, in debt — and can’t fund my kid’s future
Imagine a scenario where Sarah, 54, runs a struggling business, is $90,000 in debt and has zero savings — and now her daughter is starting to look at universities. Sarah has managed to hide her dire financial situation from her daughter, who is blissfully unaware that her mom is deeply in debt. While Sarah doesn’t want her daughter to end up with a ton of student debt — she’s well aware of how debt can weigh a person down — she doesn’t know how she could cobble enough money together to pay tuition. She wishes she had opened a Registered Education Savings Plan (RESP) — a tax-advantaged savings plan that helps families save for future education expenses — years ago. It’s too late for that option, but she’s wondering if there’s anything she can do to fix her financial situation.
Imagine a scenario where Sarah, 54, runs a struggling business, is $90,000 in debt and has zero savings — and now her daughter is starting to look at universities. Sarah has managed to hide her dire financial situation from her daughter, who is blissfully unaware that her mom is deeply in debt. While Sarah doesn’t want her daughter to end up with a ton of student debt — she’s well aware of how debt can weigh a person down — she doesn’t know how she could cobble enough money together to pay tuition. She wishes she had opened a Registered Education Savings Plan (RESP) — a tax-advantaged savings plan that helps families save for future education expenses — years ago. It’s too late for that option, but she’s wondering if there’s anything she can do to fix her financial situation.
Canadians hold strong in saving for retirement
Despite the ever-changing and volatile market that 2025 has wrought so far, many Canadians are staying diligent in saving for retirement. This, according to a new Sun Life report. For example, the report notes that positive trends in member savings behaviours are continuing with average contributions reaching over $9,500, a 6% increase from 2022. "The 'buy Canadian' sentiment that gained popularity earlier this year may also be having an impact on how people are investing their money. While some are adjusting their finances, it's encouraging to see that they aren't reactively pulling their money out of the market," Dave Jones, senior vice-president, group retirement services, said in a statement. "Some clients are shifting their assets from U.S. equities into more conservative options. They're engaged and taking their financial future seriously while navigating through turbulence."
Despite the ever-changing and volatile market that 2025 has wrought so far, many Canadians are staying diligent in saving for retirement. This, according to a new Sun Life report. For example, the report notes that positive trends in member savings behaviours are continuing with average contributions reaching over $9,500, a 6% increase from 2022. "The 'buy Canadian' sentiment that gained popularity earlier this year may also be having an impact on how people are investing their money. While some are adjusting their finances, it's encouraging to see that they aren't reactively pulling their money out of the market," Dave Jones, senior vice-president, group retirement services, said in a statement. "Some clients are shifting their assets from U.S. equities into more conservative options. They're engaged and taking their financial future seriously while navigating through turbulence."
BoC will likely hold target rate at 2.75%
Canada’s economy grew faster than expected in early 2025. But dig past these positive headlines and just about everyone can see that cracks are forming. This is the situation the Bank of Canada economists are in as they make one of its toughest calls yet: lower rates or stay the course?
Canada’s economy grew faster than expected in early 2025. But dig past these positive headlines and just about everyone can see that cracks are forming. This is the situation the Bank of Canada economists are in as they make one of its toughest calls yet: lower rates or stay the course?
Collectors won't sell for under $1,000
A recent Money.ca reader poll found that a majority of respondents would need a significant financial incentive — or none would suffice — to sell their most treasured collectible. Turns out almost 3 out of 4 Canadians (72%) said they'd sell their prized collectible for more than $1,000 or wouldn’t sell at all, shen asked, “How much would it take to get you to sell your most prized collectible?” Specifically, 46.5% chose “Well over $1,000,” while another 25.6% said, “I wouldn’t sell it for anything.” This strong emotional attachment stands in contrast to growing financial pressure on Canadians. According to a June 2025 report by Statistics Canada, household savings are declining while consumer debt levels remain high. Credit card balances rose by 1.5% in Q1 2025, with average balances sitting above $4,000.
A recent Money.ca reader poll found that a majority of respondents would need a significant financial incentive — or none would suffice — to sell their most treasured collectible. Turns out almost 3 out of 4 Canadians (72%) said they'd sell their prized collectible for more than $1,000 or wouldn’t sell at all, shen asked, “How much would it take to get you to sell your most prized collectible?” Specifically, 46.5% chose “Well over $1,000,” while another 25.6% said, “I wouldn’t sell it for anything.” This strong emotional attachment stands in contrast to growing financial pressure on Canadians. According to a June 2025 report by Statistics Canada, household savings are declining while consumer debt levels remain high. Credit card balances rose by 1.5% in Q1 2025, with average balances sitting above $4,000.
$25B budget cuts clash with rising unemployment
Prime Minister Mark Carney’s plan to slash $25 billion from annual federal spending has triggered widespread concern as the country grapples with rising unemployment and a weakening job market. Economists warn that the timing of deep public service cuts couldn’t be worse. Canada’s unemployment rate rose to 7.0% in May, the highest outside pandemic years since 2016. That translates to roughly 1.6 million unemployed Canadians — a 14% increase year-over-year. And while the economy added 8,800 jobs in May, nearly all the gains were in part-time work, offset by steep full-time losses. Against this backdrop, the federal government is directing departments to carve out savings of up to 15% by 2028/29 — excluding only the Department of National Defence, RCMP, and Border Services Agency, which face a smaller 2% target. The scale of the review is nearly double what the Liberals campaigned on and is now widely expected to result in thousands of public-sector layoffs. Already, the federal workforce has shrunk by 9,807 jobs since early 2024, with the Canada Revenue Agency (CRA) accounting for more than two-thirds of those cuts.
Prime Minister Mark Carney’s plan to slash $25 billion from annual federal spending has triggered widespread concern as the country grapples with rising unemployment and a weakening job market. Economists warn that the timing of deep public service cuts couldn’t be worse. Canada’s unemployment rate rose to 7.0% in May, the highest outside pandemic years since 2016. That translates to roughly 1.6 million unemployed Canadians — a 14% increase year-over-year. And while the economy added 8,800 jobs in May, nearly all the gains were in part-time work, offset by steep full-time losses. Against this backdrop, the federal government is directing departments to carve out savings of up to 15% by 2028/29 — excluding only the Department of National Defence, RCMP, and Border Services Agency, which face a smaller 2% target. The scale of the review is nearly double what the Liberals campaigned on and is now widely expected to result in thousands of public-sector layoffs. Already, the federal workforce has shrunk by 9,807 jobs since early 2024, with the Canada Revenue Agency (CRA) accounting for more than two-thirds of those cuts.
Auto theft continues to climb in Alberta
Car theft is becoming a major financial issue for Albertans. According to new data from the Insurance Bureau of Canada (IBC), the cost of auto theft in Alberta surged in 2024 and has climbed dramatically over the past three years. Auto theft claims in the province totaled $110.3 million in 2024, a sharp rise from $67.0 million in 2021, an increase of 65%. “The auto theft crisis persists in Alberta at a time when the province’s auto insurance system is already under tremendous strain,” Aaron Sutherland, IBC’s vice-president for the Pacific and Western regions, said in a statement. “Tariffs, inflation, growing legal costs, and rising vehicle repair and replacement expenses are pushing the system to its limits. The provincial government made an important move last fall with its auto insurance reforms, but further action is urgently needed — especially to address theft.”
Car theft is becoming a major financial issue for Albertans. According to new data from the Insurance Bureau of Canada (IBC), the cost of auto theft in Alberta surged in 2024 and has climbed dramatically over the past three years. Auto theft claims in the province totaled $110.3 million in 2024, a sharp rise from $67.0 million in 2021, an increase of 65%. “The auto theft crisis persists in Alberta at a time when the province’s auto insurance system is already under tremendous strain,” Aaron Sutherland, IBC’s vice-president for the Pacific and Western regions, said in a statement. “Tariffs, inflation, growing legal costs, and rising vehicle repair and replacement expenses are pushing the system to its limits. The provincial government made an important move last fall with its auto insurance reforms, but further action is urgently needed — especially to address theft.”
Iconic Canadian chocolate bar quietly disappears
If your childhood snack drawer included a Jersey Milk bar, this one might sting. After 75 years on Canadian shelves, Mondelez, the maker behind the confectionary best used for smores, has quietly pulled the plug on the creamy white-wrapped classic, citing low demand. No press release. No farewell tour. Just gone, like the last piece of Halloween candy you swear you saved. For many Canadians, Jersey Milk was a time machine in the form of a chocolate bar. Smooth, simple, no-frills milk chocolate. Like the kind your grandmother kept in a glass dish, or that showed up in Christmas stockings before fancy dark chocolate took over. Maybe it was the last chocolate you'd grab from your Halloween stash, before you'd take that bite that reminded you how good it really was. It wasn’t flashy, but it was ours.
If your childhood snack drawer included a Jersey Milk bar, this one might sting. After 75 years on Canadian shelves, Mondelez, the maker behind the confectionary best used for smores, has quietly pulled the plug on the creamy white-wrapped classic, citing low demand. No press release. No farewell tour. Just gone, like the last piece of Halloween candy you swear you saved. For many Canadians, Jersey Milk was a time machine in the form of a chocolate bar. Smooth, simple, no-frills milk chocolate. Like the kind your grandmother kept in a glass dish, or that showed up in Christmas stockings before fancy dark chocolate took over. Maybe it was the last chocolate you'd grab from your Halloween stash, before you'd take that bite that reminded you how good it really was. It wasn’t flashy, but it was ours.
Widow leaves $1M to escort — family fights back
After a loved one passes, following their wishes in their will is an important part of caring for your family’s legacy. But, what if they wanted to leave $1 million to a male escort? According to a recently published court ruling, a B.C. widow has done just that — but her family is alleging the will is invalid. Janet Henry, an 84-year-old woman from B.C. passed away in November of 2021, leaving the majority of her estate (valued at approximately $1 million) to a male escort named Simon Garstin — professionally known as Sam Gaines. Henry and Garstin met over Skype in February of 2021, had a number of “overnight visits” which then resulted in a final three-night stay in October of 2021. According to the decision, Henry’s closest living relatives filed a claim disputing the will back in January of 2022. Weatherill’s recent ruling has given the green light for the will contest to proceed.
After a loved one passes, following their wishes in their will is an important part of caring for your family’s legacy. But, what if they wanted to leave $1 million to a male escort? According to a recently published court ruling, a B.C. widow has done just that — but her family is alleging the will is invalid. Janet Henry, an 84-year-old woman from B.C. passed away in November of 2021, leaving the majority of her estate (valued at approximately $1 million) to a male escort named Simon Garstin — professionally known as Sam Gaines. Henry and Garstin met over Skype in February of 2021, had a number of “overnight visits” which then resulted in a final three-night stay in October of 2021. According to the decision, Henry’s closest living relatives filed a claim disputing the will back in January of 2022. Weatherill’s recent ruling has given the green light for the will contest to proceed.
Retiring on $2.8K/month? Here’s the skinny
She’s debt-free, has some savings and no major expenses. But at 60, Andrea still isn’t sure she can buy a home or retire — and she called into The Ramsey Show to ask if it’s even possible. “I want to own a home and retire one day,” the Phoenix, Arizona resident told co-hosts George Kamel and Dr. John Delony. But with a modest monthly income of US$2,864 and no retirement strategy in place, she’s unsure how — or if — she can make that dream a reality. Here’s the skinny on her retirement plan and how it can help you.
She’s debt-free, has some savings and no major expenses. But at 60, Andrea still isn’t sure she can buy a home or retire — and she called into The Ramsey Show to ask if it’s even possible. “I want to own a home and retire one day,” the Phoenix, Arizona resident told co-hosts George Kamel and Dr. John Delony. But with a modest monthly income of US$2,864 and no retirement strategy in place, she’s unsure how — or if — she can make that dream a reality. Here’s the skinny on her retirement plan and how it can help you.
Budget-friendly ways to own a summer home
Another summer weekend: Scrolling through Instagram, watching friends light bonfires by the lake, paddling into sunsets and relaxing by the lake with an ice cold drink sweating in the summer heat. Images like this might make you wish that you had a Muskoka chair and a summer home of your own. So you convince yourself you can’t really afford such luxuries anyway. The reality is, it could be your summer story too. If you’re willing to get a little creative, and consider that far from the elite properties on Lake Joseph and Lake Rosseau, there are plenty of ways you can leave the GTA to a summer property that is yours, enjoying all the benefits that Ontario summers offer just a short (albeit sometimes frustrating) drive away. That dream of lakeside relaxation doesn’t have to come with a million-dollar price tag, or even a traditional cottage at all. In fact, some of the most accessible options are hiding in plain sight, offering the charm of cottage life without the crushing costs.
Another summer weekend: Scrolling through Instagram, watching friends light bonfires by the lake, paddling into sunsets and relaxing by the lake with an ice cold drink sweating in the summer heat. Images like this might make you wish that you had a Muskoka chair and a summer home of your own. So you convince yourself you can’t really afford such luxuries anyway. The reality is, it could be your summer story too. If you’re willing to get a little creative, and consider that far from the elite properties on Lake Joseph and Lake Rosseau, there are plenty of ways you can leave the GTA to a summer property that is yours, enjoying all the benefits that Ontario summers offer just a short (albeit sometimes frustrating) drive away. That dream of lakeside relaxation doesn’t have to come with a million-dollar price tag, or even a traditional cottage at all. In fact, some of the most accessible options are hiding in plain sight, offering the charm of cottage life without the crushing costs.
I hate my job, but is the money worth it?
For almost a decade, Joe has worked for the municipality, pulling in an enviable salary of more than $100K a year. Not only does he have job security, but he also gets generous vacation time, health insurance and a pension. His friends and family think he’s got it made. But every morning, Joe dreads going to work. He doesn’t get along with his overbearing manager, and the work environment has turned toxic. On top of that, he’s bored. The job is repetitive, and there’s no room to grow within the department. To get his full pension, Joe still has 30 years of work ahead of him. He can’t imagine staying in a job he hates for three more decades — but he also wonders if the money and benefits are too good to walk away from. Joe isn’t alone. According to Gallup’s State of the Global Workplace 2025 Report only 21% of Canadian employees are engaged in their work. So why do they stay? One reason is golden handcuffs — benefits or incentives that make it financially attractive to stick around. That includes pensions, bonuses, stock options and even company cars. Often, you have to stay with an employer for a certain period before you’re eligible for those benefits, which can make some employees feel trapped, especially when they’re already unhappy. Here are a few tips to help you financially plan an exit from a high-paying but soul-draining job.
For almost a decade, Joe has worked for the municipality, pulling in an enviable salary of more than $100K a year. Not only does he have job security, but he also gets generous vacation time, health insurance and a pension. His friends and family think he’s got it made. But every morning, Joe dreads going to work. He doesn’t get along with his overbearing manager, and the work environment has turned toxic. On top of that, he’s bored. The job is repetitive, and there’s no room to grow within the department. To get his full pension, Joe still has 30 years of work ahead of him. He can’t imagine staying in a job he hates for three more decades — but he also wonders if the money and benefits are too good to walk away from. Joe isn’t alone. According to Gallup’s State of the Global Workplace 2025 Report only 21% of Canadian employees are engaged in their work. So why do they stay? One reason is golden handcuffs — benefits or incentives that make it financially attractive to stick around. That includes pensions, bonuses, stock options and even company cars. Often, you have to stay with an employer for a certain period before you’re eligible for those benefits, which can make some employees feel trapped, especially when they’re already unhappy. Here are a few tips to help you financially plan an exit from a high-paying but soul-draining job.
Create a financial safety net for your family
One of the most uncomfortable questions for anyone to answer is: “What if…” And with good reason. No one wants to think of the worst-case scenario when you still have your whole life ahead of you. But even though this topic is a difficult one, taking out life insurance – especially while you’re young – can ease the financial burden on your family if something untimely ends up happening to you.
One of the most uncomfortable questions for anyone to answer is: “What if…” And with good reason. No one wants to think of the worst-case scenario when you still have your whole life ahead of you. But even though this topic is a difficult one, taking out life insurance – especially while you’re young – can ease the financial burden on your family if something untimely ends up happening to you.
TikTok’s wildest debt repayment stories
Debt can make people desperate for financial change — some may even resort to using extreme measures to do so. Popular social media account @morganresets brought this reality to light when she posted a TikTok video asking fellow users how they recommend she deal with her $80k in debt in “unhinged” ways. They took the callout seriously and responded with some wild stories. It’s common for TikTok to be a sounding board for financial advice, but not all of it is practical or even helpful in some cases. Some of the responses to this video highlight the issue with going to social media for all your financial advice.
Debt can make people desperate for financial change — some may even resort to using extreme measures to do so. Popular social media account @morganresets brought this reality to light when she posted a TikTok video asking fellow users how they recommend she deal with her $80k in debt in “unhinged” ways. They took the callout seriously and responded with some wild stories. It’s common for TikTok to be a sounding board for financial advice, but not all of it is practical or even helpful in some cases. Some of the responses to this video highlight the issue with going to social media for all your financial advice.
3 late-stage retirement catch-up tactics
In a call on an episode of The Ramsey Show, a 73-year old Arizona resident named Robin shared that she has no 401(k) or mutual funds and more than US$12,000 in outstanding student loan debt — but is considering a home purchase within the next three years. Host Dave Ramsey then asks, “How would you be able to buy [a house] if you don’t have any money?” Robin says she expects to pay off the student loan by March this year and is setting aside a modest amount for a down payment every month. Ramsey suggests she cash in her insurance policy, pay down her student loan faster and maximize her down payment savings right afterward. “Basically, you’re going to live on beans and rice for the next three years.” Robin isn’t alone. According to a 2024 survey by CPP Investments, 61% of Canadians fear they will run out of money in retirement. If you’re concerned about being stuck in the same situation, consider these three ways to boost your retirement savings on short notice.
In a call on an episode of The Ramsey Show, a 73-year old Arizona resident named Robin shared that she has no 401(k) or mutual funds and more than US$12,000 in outstanding student loan debt — but is considering a home purchase within the next three years. Host Dave Ramsey then asks, “How would you be able to buy [a house] if you don’t have any money?” Robin says she expects to pay off the student loan by March this year and is setting aside a modest amount for a down payment every month. Ramsey suggests she cash in her insurance policy, pay down her student loan faster and maximize her down payment savings right afterward. “Basically, you’re going to live on beans and rice for the next three years.” Robin isn’t alone. According to a 2024 survey by CPP Investments, 61% of Canadians fear they will run out of money in retirement. If you’re concerned about being stuck in the same situation, consider these three ways to boost your retirement savings on short notice.
Peter Schiff: Buying a home is a money pit
Buying and owning a house is often considered a significant financial investment and a milestone in personal wealth building. However, economist Peter Schiff believes that this notion is simply not true. During a recent appearance on the Iced Coffee Hour podcast, hosted by Graham Stephan and Jack Selby, Schiff was asked about the common belief that for many, a house represents their primary means of saving. Schiff, who runs Euro Pacific Capital, strongly disagrees with this perspective. “A house depletes your savings. It's a money pit,” he stated bluntly. “It's crazy the amount of money that a house costs you.” Proponents of homeownership often argue that property values appreciate over time. For example, the median sales price of houses sold in Canada in May 2020 was $544,000, according to data from Trading Economics. By May 2025, this figure had risen to $691,000, reflecting a 27% increase — however, this is a decrease from the recent high witnessed in February 2022, where the average home price bloated to $837,000. Yet, Schiff urges caution when interpreting these figures. “[People] think, oh, the house appreciates — not always, it's inflation that’s doing it. And all that's happening is your land is keeping pace, but houses don't,” he argued.
Buying and owning a house is often considered a significant financial investment and a milestone in personal wealth building. However, economist Peter Schiff believes that this notion is simply not true. During a recent appearance on the Iced Coffee Hour podcast, hosted by Graham Stephan and Jack Selby, Schiff was asked about the common belief that for many, a house represents their primary means of saving. Schiff, who runs Euro Pacific Capital, strongly disagrees with this perspective. “A house depletes your savings. It's a money pit,” he stated bluntly. “It's crazy the amount of money that a house costs you.” Proponents of homeownership often argue that property values appreciate over time. For example, the median sales price of houses sold in Canada in May 2020 was $544,000, according to data from Trading Economics. By May 2025, this figure had risen to $691,000, reflecting a 27% increase — however, this is a decrease from the recent high witnessed in February 2022, where the average home price bloated to $837,000. Yet, Schiff urges caution when interpreting these figures. “[People] think, oh, the house appreciates — not always, it's inflation that’s doing it. And all that's happening is your land is keeping pace, but houses don't,” he argued.
Best low-risk investments
One of the keys to building wealth is understanding the relationship between risk and reward. Canadians are always on the lookout for low-risk investments, but you must understand that free lunches do not exist. A risk-free investment (like a GIC) has a lower expected return than a high-risk investment (like an individual stock). As an investor, your goal should be to balance the trade-off between risk and reward and find investments to suit your risk tolerance. Here are four low-risk investment options to consider, plus one really terrible low-risk option and one option that was so bad it’s no longer available.
One of the keys to building wealth is understanding the relationship between risk and reward. Canadians are always on the lookout for low-risk investments, but you must understand that free lunches do not exist. A risk-free investment (like a GIC) has a lower expected return than a high-risk investment (like an individual stock). As an investor, your goal should be to balance the trade-off between risk and reward and find investments to suit your risk tolerance. Here are four low-risk investment options to consider, plus one really terrible low-risk option and one option that was so bad it’s no longer available.
How to protect your pension during a postal strike
The negotiations between Canada Post and its unionized postal workers have been ongoing for more than 18 months and despite a mandate from the federal jobs minister, more than three weeks ago, there's still been no date set for a vote by Canada Post workers on the “final” contract offer by the Crown corporation. As negotiations between Canada Post and its unionized postal workers stretch on — they've been ongoing for more than 18 months — many Canadians, especially seniors, are wondering what it means for their monthly income. For those relying on government programs like the Canada Pension Plan (CPP), Old Age Security (OAS), or the Guaranteed Income Supplement (GIS), the fear of missing a payment can cause real anxiety. But there’s good news: You can safeguard your retirement income by making a few smart moves today.
The negotiations between Canada Post and its unionized postal workers have been ongoing for more than 18 months and despite a mandate from the federal jobs minister, more than three weeks ago, there's still been no date set for a vote by Canada Post workers on the “final” contract offer by the Crown corporation. As negotiations between Canada Post and its unionized postal workers stretch on — they've been ongoing for more than 18 months — many Canadians, especially seniors, are wondering what it means for their monthly income. For those relying on government programs like the Canada Pension Plan (CPP), Old Age Security (OAS), or the Guaranteed Income Supplement (GIS), the fear of missing a payment can cause real anxiety. But there’s good news: You can safeguard your retirement income by making a few smart moves today.
Suze Orman: Plan for financial emergencies
We all know we should be saving — putting a little away every pay cheque for a rainy day. But it’s not surprising that many people have very little left to put in a rainy day fund after paying for the every day expenses, such as food, gas and housing. According to a survey by money maven Suze Orman's company SecureSave, 67% of those questioned don't have enough money saved to cover an unexpected $400 expense. Furthermore, more than half (54%) of respondents said their savings have decreased over the last year — meaning that even a small unexpected expense can push these people into debt. “This data is a huge red flag,” Orman said in a press release for the study, adding there is a grave economic risk if people aren’t prepared to absorb emergency expenses. That snowball effect is something Orman has seen over and over again in her career. To help, here are the signals that you may be in danger and tips to prevent catastrophic financial debt.
We all know we should be saving — putting a little away every pay cheque for a rainy day. But it’s not surprising that many people have very little left to put in a rainy day fund after paying for the every day expenses, such as food, gas and housing. According to a survey by money maven Suze Orman's company SecureSave, 67% of those questioned don't have enough money saved to cover an unexpected $400 expense. Furthermore, more than half (54%) of respondents said their savings have decreased over the last year — meaning that even a small unexpected expense can push these people into debt. “This data is a huge red flag,” Orman said in a press release for the study, adding there is a grave economic risk if people aren’t prepared to absorb emergency expenses. That snowball effect is something Orman has seen over and over again in her career. To help, here are the signals that you may be in danger and tips to prevent catastrophic financial debt.
Ontario drivers get long-term break at the pump
As of July 1, 2025, Ontario drivers are paying less at the pump, for good. The province has made its long-running fuel tax cuts permanent, locking in a 5.7 cent per litre discount on gasoline and 4.3 cents per litre on discount propane used in road vehicles. Originally introduced in mid-2022 as a temporary response to rising inflation, the tax reductions had been extended multiple times. They are now part of Ontario law.
As of July 1, 2025, Ontario drivers are paying less at the pump, for good. The province has made its long-running fuel tax cuts permanent, locking in a 5.7 cent per litre discount on gasoline and 4.3 cents per litre on discount propane used in road vehicles. Originally introduced in mid-2022 as a temporary response to rising inflation, the tax reductions had been extended multiple times. They are now part of Ontario law.
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