Gen Z Canadians plan to invest their tax returns
It can often be difficult to know where to start when it comes to investments. For many Gen Z Canadians especially, it can be much more difficult to invest, with lower incomes compared to those who have been in the workforce longer. But a new TD Trust survey reveals 76% of Gen Z Canadians are ready to invest their upcoming tax refunds. Despite this, only half say they have a TFSA. "A TFSA isn't just a savings account — it's a gateway to long-term, tax-free growth," Pat Giles, vice-president of savings and investment journey at TD, said in a statement. "For young Canadians, the earlier you start, the more powerful the impact. Even small, consistent contributions can build serious financial confidence over time, making sure your money is working as hard as you are."
It can often be difficult to know where to start when it comes to investments. For many Gen Z Canadians especially, it can be much more difficult to invest, with lower incomes compared to those who have been in the workforce longer. But a new TD Trust survey reveals 76% of Gen Z Canadians are ready to invest their upcoming tax refunds. Despite this, only half say they have a TFSA. "A TFSA isn't just a savings account — it's a gateway to long-term, tax-free growth," Pat Giles, vice-president of savings and investment journey at TD, said in a statement. "For young Canadians, the earlier you start, the more powerful the impact. Even small, consistent contributions can build serious financial confidence over time, making sure your money is working as hard as you are."
4 really good reasons to use credit over cash
Canadians may love the perks and convenience of using credit cards but can also be turned off by the interest and fees accompanying them. Some may even think that using a credit card and staying on budget are mutually exclusive practices — but that's not the case! Here are some reasons why you should use your credit card over traditional cash without incurring fees and debt, while also taking advantage of the perks of using credit.
Canadians may love the perks and convenience of using credit cards but can also be turned off by the interest and fees accompanying them. Some may even think that using a credit card and staying on budget are mutually exclusive practices — but that's not the case! Here are some reasons why you should use your credit card over traditional cash without incurring fees and debt, while also taking advantage of the perks of using credit.
Why 62% of Canadians need life insurance
The gig economy is a big economy. According to a 2025 survey by Statistics Canada, approximately 28% of Canadians — roughly 8.7 million adults — engage in some form of gig work across the country. In the same Stats Can report it was shown that 62% of gig workers rely on their gig income either as a supplement or as their primary source of earnings. Not unlike online dating, the gig economy has evolved rapidly from its initial status as a last resort for the desperate, to a first option for many Canadians. The flexibility makes gig work attractive to anyone looking to set their own hours and the relatively low bar to entry makes these temporary jobs, primarily in the service industry, accessible to a large part of the workforce. But, one area where the gig economy’s development has stalled is providing benefits, like insurance, particularly life insurance. More than one-fifth (22%) of gig workers said they do not have insurance any form of health or life insurance. Among those who depend on gig work as their main income, that figure rose to 55%, according to a PolicyMe report. If you’re lucky, your gig employer may provide vision, dental and health coverage, but if something more severe happens, what’s your plan? If your gigs are your household’s sole source of income, what happens if you get critically injured and can’t work for an extended period of time? Who pays the rent? And, if it's worse than illness, what resources can your family rely on to ensure their bills — and your funeral costs — are paid?
The gig economy is a big economy. According to a 2025 survey by Statistics Canada, approximately 28% of Canadians — roughly 8.7 million adults — engage in some form of gig work across the country. In the same Stats Can report it was shown that 62% of gig workers rely on their gig income either as a supplement or as their primary source of earnings. Not unlike online dating, the gig economy has evolved rapidly from its initial status as a last resort for the desperate, to a first option for many Canadians. The flexibility makes gig work attractive to anyone looking to set their own hours and the relatively low bar to entry makes these temporary jobs, primarily in the service industry, accessible to a large part of the workforce. But, one area where the gig economy’s development has stalled is providing benefits, like insurance, particularly life insurance. More than one-fifth (22%) of gig workers said they do not have insurance any form of health or life insurance. Among those who depend on gig work as their main income, that figure rose to 55%, according to a PolicyMe report. If you’re lucky, your gig employer may provide vision, dental and health coverage, but if something more severe happens, what’s your plan? If your gigs are your household’s sole source of income, what happens if you get critically injured and can’t work for an extended period of time? Who pays the rent? And, if it's worse than illness, what resources can your family rely on to ensure their bills — and your funeral costs — are paid?
Buy Canadian movement gains momentum
Independent grocers across Canada are experiencing a surge in traffic as the “Buy Canadian” movement gains momentum, driven by a rising wave of consumer support for locally produced goods. As Canadians increasingly opt for Canadian-made products, small grocery stores that have long championed local sourcing are seeing more foot traffic and a growing customer base.
Independent grocers across Canada are experiencing a surge in traffic as the “Buy Canadian” movement gains momentum, driven by a rising wave of consumer support for locally produced goods. As Canadians increasingly opt for Canadian-made products, small grocery stores that have long championed local sourcing are seeing more foot traffic and a growing customer base.
Extreme weather in Eastern Canada costs $260M
The rise in extreme weather events due to climate change has seen a significant impact on insurance costs in Canada across the last decade plus. So far, it seems as though 2025 is showing no hint of bucking that trend. A severe storm and mid-winter thaw in February that struck parts of Ontario, Quebec and Atlantic Canada, caused more than $260 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). "With many Ontarians still grappling with the lingering impacts of the recent ice storm, residents have once again experienced a harsh winter with severe storms and floods that damaged or destroyed homes, vehicles and businesses," Amanda Dean, vice-president, Ontario and Atlantic at the Insurance Bureau of Canada (IBC), said in a statement. "While parts of Quebec and Atlantic Canada were impacted by these events, the vast majority of damage took place in Ontario, with heavy snowfall, strong wind gusts, ice and rain causing significant structural damage.” This estimate does not include damages from the late-March Ontario storm. According to a release, the IBC expects these damages to get worse every year.
The rise in extreme weather events due to climate change has seen a significant impact on insurance costs in Canada across the last decade plus. So far, it seems as though 2025 is showing no hint of bucking that trend. A severe storm and mid-winter thaw in February that struck parts of Ontario, Quebec and Atlantic Canada, caused more than $260 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). "With many Ontarians still grappling with the lingering impacts of the recent ice storm, residents have once again experienced a harsh winter with severe storms and floods that damaged or destroyed homes, vehicles and businesses," Amanda Dean, vice-president, Ontario and Atlantic at the Insurance Bureau of Canada (IBC), said in a statement. "While parts of Quebec and Atlantic Canada were impacted by these events, the vast majority of damage took place in Ontario, with heavy snowfall, strong wind gusts, ice and rain causing significant structural damage.” This estimate does not include damages from the late-March Ontario storm. According to a release, the IBC expects these damages to get worse every year.
The technology that grows money while you sleep
Huge advances are being made in technology every year, and I can't get enough. For example, I love when I'm having a conversation and can say that, at that very moment, my Roomba is vacuuming for me. It just sounds so — futuristic. Financial technology can be just as exciting and futuristic --- and might even help you clean up in a different way.
Huge advances are being made in technology every year, and I can't get enough. For example, I love when I'm having a conversation and can say that, at that very moment, my Roomba is vacuuming for me. It just sounds so — futuristic. Financial technology can be just as exciting and futuristic --- and might even help you clean up in a different way.
How a man travelled the world in 24-hour trips
Kevin Droniak, a 27-year-old content creator, has captivated audiences with his innovative approach to travel, undertaking 24-hour trips to destinations such as Paris, Egypt and Puerto Rico. His philosophy centres on maximizing experiences without the need for extended vacations or hefty budgets. Droniak's method involves skipping hotel accommodations and focusing on one main activity per trip, such as visiting a beach or a landmark, allowing him to make the most of short stays. One of his most notable journeys was a $650 excursion to see the pyramids in Egypt. He described it to People Magazine as a dream fulfilled rather than a splurge, highlighting that fulfilling adventures don't require extended vacations or large budgets. Despite extensive flying, Droniak enjoys the journey itself and finds the brief getaways rewarding. “I just want to break the stigma that you need a week to go anywhere if you want to go somewhere, and if you don’t have time to take off work, you could literally just go for the day. You can make it work,” he told People. His travels are also shaped by personal priorities; as the manager and caregiver for his 95-year-old grandmother, "Grandma Droniak," he limits trip duration to stay available for her. Ultimately, Droniak inspires others with his practical yet adventurous spirit, proving that grand travel experiences can happen even in a single day. But, realistically, how? Certainly travelling on a dime seems like a lofty pipe dream. What if you could, though? What would it take and how can you make it happen? It's not impossible to experience amazing and fulfilling on a budget. The key word though, is 'buget.'
Kevin Droniak, a 27-year-old content creator, has captivated audiences with his innovative approach to travel, undertaking 24-hour trips to destinations such as Paris, Egypt and Puerto Rico. His philosophy centres on maximizing experiences without the need for extended vacations or hefty budgets. Droniak's method involves skipping hotel accommodations and focusing on one main activity per trip, such as visiting a beach or a landmark, allowing him to make the most of short stays. One of his most notable journeys was a $650 excursion to see the pyramids in Egypt. He described it to People Magazine as a dream fulfilled rather than a splurge, highlighting that fulfilling adventures don't require extended vacations or large budgets. Despite extensive flying, Droniak enjoys the journey itself and finds the brief getaways rewarding. “I just want to break the stigma that you need a week to go anywhere if you want to go somewhere, and if you don’t have time to take off work, you could literally just go for the day. You can make it work,” he told People. His travels are also shaped by personal priorities; as the manager and caregiver for his 95-year-old grandmother, "Grandma Droniak," he limits trip duration to stay available for her. Ultimately, Droniak inspires others with his practical yet adventurous spirit, proving that grand travel experiences can happen even in a single day. But, realistically, how? Certainly travelling on a dime seems like a lofty pipe dream. What if you could, though? What would it take and how can you make it happen? It's not impossible to experience amazing and fulfilling on a budget. The key word though, is 'buget.'
10 best neighbourhoods in Montreal
One of Canada’s largest urban centres, Montreal is known as a vibrant Quebecois city, rich in history, culture and culinary delights. The city’s bilingual reputation adds a certain “je ne sais quoi” to the allure of the metropolis. Despite its harsh winters, Montreal rewards its residents with a bevy of welcoming and personality-rich neighbourhoods that offer distinct assets, ranging from family-friendly, park-filled boroughs to hip and trendy ‘hoods ideal for the young professional.
One of Canada’s largest urban centres, Montreal is known as a vibrant Quebecois city, rich in history, culture and culinary delights. The city’s bilingual reputation adds a certain “je ne sais quoi” to the allure of the metropolis. Despite its harsh winters, Montreal rewards its residents with a bevy of welcoming and personality-rich neighbourhoods that offer distinct assets, ranging from family-friendly, park-filled boroughs to hip and trendy ‘hoods ideal for the young professional.
Canadians rethink U.S. travel plans: survey
Mounting political tensions, a sinking loonie and growing personal unease are prompting a significant shift in Canadian travel habits — with many saying they’re actively steering clear of the United States in 2025. Exclusive data compiled by Money.ca shows a strong majority of Canadians are changing their plans to avoid visiting the U.S. this year. In response to the question, “Have you changed your travel plans this year to avoid going to the U.S.?”, nearly two-thirds of respondents said yes, with 35.7% cancelling their trip outright and 29.5% choosing a different country altogether. Only 9% said they still intend to visit the U.S., while 21.4% said they had no plans to go in the first place. The rest remain undecided.
Mounting political tensions, a sinking loonie and growing personal unease are prompting a significant shift in Canadian travel habits — with many saying they’re actively steering clear of the United States in 2025. Exclusive data compiled by Money.ca shows a strong majority of Canadians are changing their plans to avoid visiting the U.S. this year. In response to the question, “Have you changed your travel plans this year to avoid going to the U.S.?”, nearly two-thirds of respondents said yes, with 35.7% cancelling their trip outright and 29.5% choosing a different country altogether. Only 9% said they still intend to visit the U.S., while 21.4% said they had no plans to go in the first place. The rest remain undecided.
100 millionaires share their secrets to wealth
Jamie Catmull, host of The Richer Way podcast, has spent years interviewing more than 100 millionaires — from high-powered CEOs and industry leaders to self-made entrepreneurs — to uncover the key to their success. "I wanted to help people take more control of their finances … share how (highly successful people) dealt with setbacks and came out stronger,” Catmull reveals in a CNBC article. “They don’t sit around waiting for anything, certainly not luck, because they make their own.” Catmull has identified some common traits we can all learn from.
Jamie Catmull, host of The Richer Way podcast, has spent years interviewing more than 100 millionaires — from high-powered CEOs and industry leaders to self-made entrepreneurs — to uncover the key to their success. "I wanted to help people take more control of their finances … share how (highly successful people) dealt with setbacks and came out stronger,” Catmull reveals in a CNBC article. “They don’t sit around waiting for anything, certainly not luck, because they make their own.” Catmull has identified some common traits we can all learn from.
Should I never retire?
Many people look forward to retirement and can't wait to kick off that chapter in life. But for some people, that part of the story isn't appealing. If you're 63, you're at a time when it is reasonable to consider your financial stability during retirement. Even though you haven’t hit 65, you're still old enough to collect the Canada Pension Plan (CPP) benefit, although you'll be looking at a reduced monthly sum since each year you delay, until age 70, the more you'll earn. If you have a decent amount of savings or a pension, you could retire at 63 or shortly thereafter without worry. But it's not just the financials you'll need to think about. There's your mental health and loneliness to consider — aspects of retirement that should not be overlooked.
Many people look forward to retirement and can't wait to kick off that chapter in life. But for some people, that part of the story isn't appealing. If you're 63, you're at a time when it is reasonable to consider your financial stability during retirement. Even though you haven’t hit 65, you're still old enough to collect the Canada Pension Plan (CPP) benefit, although you'll be looking at a reduced monthly sum since each year you delay, until age 70, the more you'll earn. If you have a decent amount of savings or a pension, you could retire at 63 or shortly thereafter without worry. But it's not just the financials you'll need to think about. There's your mental health and loneliness to consider — aspects of retirement that should not be overlooked.
Make your paycheque work harder with EQ Bank’s 4%
As traditional banks quietly trim returns, cutting interest rates on savings and high-interest accounts, EQ Bank is flipping the script. Even as banking customers adjust to lower interest rates, EQ Bank is forging a path the other way — offering up to 4% interest on its Personal Account and Joint Account. That’s 1.25% everyday interest plus an extra 2.75% when you set up a payroll direct deposit. In plain terms: If you're tired of your money sitting idle and earning next to nothing, EQ Bank is one of the best places to park your paycheque. Here’s why.
As traditional banks quietly trim returns, cutting interest rates on savings and high-interest accounts, EQ Bank is flipping the script. Even as banking customers adjust to lower interest rates, EQ Bank is forging a path the other way — offering up to 4% interest on its Personal Account and Joint Account. That’s 1.25% everyday interest plus an extra 2.75% when you set up a payroll direct deposit. In plain terms: If you're tired of your money sitting idle and earning next to nothing, EQ Bank is one of the best places to park your paycheque. Here’s why.
Charge card vs. credit card
While most Canadians are familiar with the term “credit card,” the term “charge card” is much less common. However, the two have several things in common and are important financial tools that can serve distinct purposes for individuals with different financial needs and habits. Understanding the differences between a charge card vs credit card is crucial for making informed decisions about which type of card is best for you.
While most Canadians are familiar with the term “credit card,” the term “charge card” is much less common. However, the two have several things in common and are important financial tools that can serve distinct purposes for individuals with different financial needs and habits. Understanding the differences between a charge card vs credit card is crucial for making informed decisions about which type of card is best for you.
How to dispute a credit card charge
I have a confession to make. I’m among that rare breed of credit card user that you’ve heard about but never really believed exists. That’s right: I’m a credit card statement confirmer. Every time I get a credit card statement, I dig out the receipts I carefully put aside each month and check each and every one against my credit card statement to ensure that I don’t have a problematic charge. It’s tedious sure, but I’ve caught two charges that were errors and thus saved over $200. Hopefully you do the same. Or at the very least you should give your statement a good once over to confirm that you made all the purchases listed. Mistakes can happen more often than you think. If you do ever notice that you’ve been wrongly charged for an item, here’s what you can do to successfully dispute a transaction.
I have a confession to make. I’m among that rare breed of credit card user that you’ve heard about but never really believed exists. That’s right: I’m a credit card statement confirmer. Every time I get a credit card statement, I dig out the receipts I carefully put aside each month and check each and every one against my credit card statement to ensure that I don’t have a problematic charge. It’s tedious sure, but I’ve caught two charges that were errors and thus saved over $200. Hopefully you do the same. Or at the very least you should give your statement a good once over to confirm that you made all the purchases listed. Mistakes can happen more often than you think. If you do ever notice that you’ve been wrongly charged for an item, here’s what you can do to successfully dispute a transaction.
How to rescue your retirement savings in your 40s
Picture John, a 42-year-old who hasn’t started putting away money for retirement yet. He doesn’t have any savings or even an emergency fund set aside for unexpected expenses, and he’s starting to panic. Sound familiar? If you're in your 40s and haven’t put much thought into retirement savings, now's the time to get serious. The need to set specific, realistic goals for retirement savings becomes crucial at this stage in life. It’s not too late to make a dent in building your retirement fund, but the clock is ticking. Here are some strategies to help you catch up and set yourself up to maximize savings.
Picture John, a 42-year-old who hasn’t started putting away money for retirement yet. He doesn’t have any savings or even an emergency fund set aside for unexpected expenses, and he’s starting to panic. Sound familiar? If you're in your 40s and haven’t put much thought into retirement savings, now's the time to get serious. The need to set specific, realistic goals for retirement savings becomes crucial at this stage in life. It’s not too late to make a dent in building your retirement fund, but the clock is ticking. Here are some strategies to help you catch up and set yourself up to maximize savings.
Merchant category codes
Canadians love their rewards and cash back credit cards and we’re always looking for ways to maximize how we use them. But it turns out that making the most of a rewards card comes down to more than just aligning your spending with the best earning categories.
Canadians love their rewards and cash back credit cards and we’re always looking for ways to maximize how we use them. But it turns out that making the most of a rewards card comes down to more than just aligning your spending with the best earning categories.
Reducing hunger a rare point of unity in Canada
As Canadians head into a pivotal election season, one issue stands out for its rare consensus: hunger. According to Food Banks Canada’s new Election Report, 92% of adults agree that no one in the country should ever go hungry, and 84% say reducing food insecurity should be a top, non-partisan priority. "This is a time when we're thinking about Canada's future, and federal election candidates are sharing their views on what it means to build a more resilient and compassionate nation," Kirstin Beardsley, Food Banks Canada CEO, said in a statement. "The data is clear that there is strong support for setting the goal of cutting hunger in half by 2030. People care about their neighbours' well-being, and they want action from their government. Most importantly, folks from every region across the country agree that, if we make the right choices, Canada has the resources to reverse soaring food bank visits."
As Canadians head into a pivotal election season, one issue stands out for its rare consensus: hunger. According to Food Banks Canada’s new Election Report, 92% of adults agree that no one in the country should ever go hungry, and 84% say reducing food insecurity should be a top, non-partisan priority. "This is a time when we're thinking about Canada's future, and federal election candidates are sharing their views on what it means to build a more resilient and compassionate nation," Kirstin Beardsley, Food Banks Canada CEO, said in a statement. "The data is clear that there is strong support for setting the goal of cutting hunger in half by 2030. People care about their neighbours' well-being, and they want action from their government. Most importantly, folks from every region across the country agree that, if we make the right choices, Canada has the resources to reverse soaring food bank visits."
Tips for lending money to friends and family
A few years ago, your brother borrowed money to help pay for groceries for several months, and paid you back. But now, he finds himself short of cash again and you’re not sure whether you want to lend her more money. Wanting to help out a friend or family member when they’re in a financial bind may seem like a no-brainer, but you need to be sure you’re also taking care of your needs as well. For one, you want to make sure you have enough room in the budget to pay for your own expenses — and lend money. You may also need to mitigate other risks, like potential strain on your relationship. Let’s take a closer look at these risks and how to responsibly lend the money, if you choose to do so.
A few years ago, your brother borrowed money to help pay for groceries for several months, and paid you back. But now, he finds himself short of cash again and you’re not sure whether you want to lend her more money. Wanting to help out a friend or family member when they’re in a financial bind may seem like a no-brainer, but you need to be sure you’re also taking care of your needs as well. For one, you want to make sure you have enough room in the budget to pay for your own expenses — and lend money. You may also need to mitigate other risks, like potential strain on your relationship. Let’s take a closer look at these risks and how to responsibly lend the money, if you choose to do so.
Salary doubled: How to budget after a big raise
Early in your career, big pay increases can happen quickly — you get a new job in a much larger company, you advance through the ranks at your current company or you move to a new industry where salaries are typically higher than you could command previously. After the excitement of signing a big contract is over, you might ask yourself: “Now what?” While you might be tempted to make your first major payday all about fun purchases, it’s still important to stick to tried-and-true financial principles. There are no guarantees in today's world. You could suddenly lose your job, and the money you’ve made has to last. As a case study, let’s say you’re a single young professional who has moved from a $100,000 to a $200,000 salary role. Here, we’ll cover budgeting, saving and investing to help you make the most of your new income.
Early in your career, big pay increases can happen quickly — you get a new job in a much larger company, you advance through the ranks at your current company or you move to a new industry where salaries are typically higher than you could command previously. After the excitement of signing a big contract is over, you might ask yourself: “Now what?” While you might be tempted to make your first major payday all about fun purchases, it’s still important to stick to tried-and-true financial principles. There are no guarantees in today's world. You could suddenly lose your job, and the money you’ve made has to last. As a case study, let’s say you’re a single young professional who has moved from a $100,000 to a $200,000 salary role. Here, we’ll cover budgeting, saving and investing to help you make the most of your new income.
Election 2025: Investing in Canadian industries
This year’s election cycle is anything but boring, and that’s putting it lightly. Between rising global tensions, and the return of Trump-era tariffs, it’s easy to feel uneasy about investing your money. More investors are looking local for opportunity. There’s a growing “Buy Canada” push from policy-makers, retailers and investors alike. But where does that leave the everyday Canadian? With the Canadian federal election taking place on April 28, let’s take a look at each party leader and where this might lead in the future of investment in Canada.
This year’s election cycle is anything but boring, and that’s putting it lightly. Between rising global tensions, and the return of Trump-era tariffs, it’s easy to feel uneasy about investing your money. More investors are looking local for opportunity. There’s a growing “Buy Canada” push from policy-makers, retailers and investors alike. But where does that leave the everyday Canadian? With the Canadian federal election taking place on April 28, let’s take a look at each party leader and where this might lead in the future of investment in Canada.
Money.ca Digest