💸 EARN: Love the outdoors? Apply for one of the many positions open with Parks Canada.
🏦 SAVE: Savings account rates are crumby but there are some decent limited time promotions going on, so if you’ve got cash to stash consider these options.
🛍️ SPEND: When the moon hits your eye like a big pizza pie, that’s amore! And you’ll fall in love with the pizzas popping out of your Ooni oven, especially if you nab one during the flash sale until May 29.
No more school, no more books, and no more teachers telling you to put that phone away during class! But is going to university straight out of high school the best move for students in this economy?
Canadian high schoolers might be better off taking a year between high school and post-secondary, opting to work, save money and experience a little fun and freedom before committing to years of shoestring student living.
Why it’s happening: Teens are graduating in an uncertain economy where inflation has made everything more expensive, especially the three major student spending areas: Tuition, rent and food.
If you (or a young scholar in your life) does decide to take a gap year, here’s how to get the most out of it:
Bottom line: A gap year is an excellent option for students who want to build up their bank accounts and head into post-secondary in a better financial position.
Bank shares slump, profits down. Scotiabank and BMO saw their share prices dip after reporting that Q2 profits fell compared to the same fiscal period last year. Scotiabank saw $2.16 billion in profits, down from $2.75 billion in 2022. BMO profits fell by almost $4 billion. One cause of lower profit margins? Banks set aside money to cover potentially bad loans, also known as "provisions for credit losses."
Canada Pension Plan investments return 1.3%. The CPP Investment Board posted returns of 1.3% in the last fiscal year, faring slightly worse than the S&P 500 over the same period but outperforming reference portfolios the CPPIB uses to measure performance. "Our investment portfolio remained resilient, delivering stable returns while outperforming major indexes," CPP Investments chief executive John Graham said.
Apple nears valuation milestone. A 34% jump in the tech company's share price over the last year is pushing it towards two significant milestones—an all-time record valuation and a $3 trillion market capitalization. If the stock can climb another 10%, Apple will become the highest-valued company in the history of companies! Microsoft, Aramco, Amazon and Alphabet have valuations of one trillion. Geez, catch up, guys!
We’ve all seen the “wear-all-your-clothes-on-the-plane” packing hack, but who wants to sit on a plane for hours looking like a raggedy Michelin Man?
But a big part of vacation is snapping pics in stylish fits. So if you want to look your best abroad without paying excess baggage fees, why not try these space-saving techniques:
Bottom line: Baggage fees can range from $30 to over $300, depending on the airline and location. Don’t spend it in the airport before you even reach your destination—pack smarter and save it for an adventure once you land.
If you’re one of the millions of Canadians who don’t have a job with dental benefits, you’ve probably considered signing up for private dental insurance. But is a monthly premium the most cost-effective way to care for your teeth, or should you just pay out of pocket?
What is it: Private dental insurance helps cover the costs of maintaining a healthy mouth when you don’t have group benefits through an employer.
What you’ll pay: According to Insurance Business Magazine, the average cost for a dental policy in Canada is $40 per month for basic individual coverage, so $480 a year.
What you’ll save: Here’s the thing—dental emergencies are costly, and a freak accident could break or knock out a tooth, resulting in excruciating pain. A simple tooth extraction could cost up to $250.
So, is it worth it? Like all insurance, you’re paying for a product you hope you never need to use but inevitably will need to use. So you could look at it as a waste of money, or you could look at it as doing future you a favour—they will appreciate the responsible decision making.
Dig deeper: If your household income is below $90,000 and you’ve got uninsured kids under 12, they could be covered under the new Canada Dental Benefit.
🙈 Need a financial wake-up call? This episode of Financial Audit might make you cringe, but it asks the tough questions to help get to the root cause of some financial failures.
💚 It’s fiddlehead season, and besides being fun to say, they are nutritious and packed with antioxidants.
🚨 Help yourself build an emergency fund with these free spreadsheets and fun printables.
💵 Meet the team helping BC residents recover over $21.5 million in unclaimed money.
🦾 Could AI actually help boost the middle class? Or are we destined for robot overlords?