Get the essential money briefing for Canadians.

Subscribe to our twice-weekly free personal finance newsletter for tips on earning, saving, investing, finding deals, and more. Made for Canadians, by Canadians.

While the U.S. economy soars, Canada lags behind

By some measures, Canada’s economy is falling behind the U.S. Here’s what that means.

Driving the news: While our American neighbours watch their economy grow, Canada is continuing to grapple with challenges in maintaining its economic stability. Consumers are pulling back on their spending, a phenomenon that has been driven by a variety of factors:

Cash ETFs are set to take a hit

The golden era of cash ETFs could be coming to a close, thanks to some new house rules courtesy of Bay Street’s watchdog.  

Driving the news: Canada’s banking watchdog is imposing new rules on one of Canada’s most popular retail investments, cash exchange-traded funds (ETFs), a move that will lower the big returns investors have been getting from the funds, per The Globe and Mail.

Financial planning has a new zen approach

If you ask some experts, financial planning isn’t just a numbers game but a way of life. 

Driving the news: As economic times get tough, a wave of financial experts are leaning into mindfulness (yep, you read that right) to help manage their money. They say that calming down your nervous system or making time for reflection can help you foster better financial decisions — or, at the very least, help you keep your cool if the markets fall… and if they keep falling. 

Renting in Canada is starting to look like a steal

Home sweet home, sure. But how?

Driving the news: The cost of buying a home in Canada versus renting is facing one of the most extreme price discrepancies since the early 2000s. Monthly mortgage payments for the average-priced home are now well over double the nation’s average monthly rent. 

Is your pet putting you in debt?

The cat’s out of the bag. And it might be scratching through your bank account…

What happened: A survey studied the annual costs for pet owners and parents, finding that 40% say caring for animals is as costly as raising a kid — we’re not kitten around. But how much does it really cost to be a pet owner in Canada?

Inflation's toll on Canadian Thanksgiving

Ham, yams, the fam, and the inflation slam – yes, it’s Thanksgiving this weekend.

Or, in other words, while turkeys are getting stuffed, your wallets are not. 

Driving the news: Grocery bills had increased by an average of 6.8% at the end of summer compared to August 2022, so go easy on the gravy train this weekend. One Toronto Redditor recently reported finding an oven-roasted turkey for $119.99 and other birds for $59.99.

GICs Are Back in Style

The last time GIC rates were this high, flip-phones were cool and frosted tips were…tolerated.

 Driving the news: With Canada's interest rates sitting at the highest level seen since the early 2000s, the returns on guaranteed investment certificates (GICs) have also been soaring.  

The best travel hack is to plan ahead

If you’re looking to escape the frozen tundra that is winter in Canada (at a reasonable price), there are a few things you should keep in mind.

Driving the news: With Black Friday and Cyber Monday coming up in November, travel deals will be among the many savings on full display. But outside of those big flash sales, saving money on your travel always comes down to a couple of key factors, per The Globe and Mail.
Read more stories