Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, summarizes recent financial headlines and explains what they mean for Canadian investors. U.S. Fed cuts rates for the first time in four years The U.S. dollar and the American financial system remain central to global markets, so decisions by the … Read more

Brian Scudamore says he’s frugal by nature and finds meaning in people, experiences and even the things others discard. That instinct to see value where others see rubbish helped him turn a small business he launched at 18 into a franchise and commercial removal company valued at $700 million. We spoke with him for his … Read more

As Wealthsimple celebrates its tenth anniversary, the Canadian financial platform has revealed for the first time that it is profitable, reporting substantial growth in both revenue and assets. Originally launched as a robo-advisor, Wealthsimple has steadily expanded its product lineup over the years, adding trading, banking-style services and other financial products designed to compete with … Read more

Aya Kinsey, 18 Occupation: University studentAnnual income: Not yet established (likely some freelance income)Financial goals: Build credit and travel In September, Aya Kinsey began her first year at Western University in London, Ontario, where she is studying economics. This is the first time she has lived away from her family in Toronto; she shares a … Read more

Thinking about getting into crypto? Bitcoin, Ethereum and a host of smaller digital tokens have opened up a new landscape of investment options. The crypto space can be exciting and rewarding, but it also carries unique risks. Cryptocurrencies remain highly speculative, not only because of big price swings but also due to technological, regulatory and … Read more

Canada’s annual inflation rate eased to 2.0% in the most recent month, bringing it back to the Bank of Canada’s 2% target after a prolonged period of elevated price growth. The drop from 2.5% in July marks the lowest year-over-year reading since February 2021, reflecting a notable cooling in consumer prices across several categories. What … Read more

Rent in Canada has become increasingly costly, and recent data show little sign of relief. Rent growth has often outpaced wage gains, making it harder for many households to secure affordable, suitable housing. For example, CBC’s The Fifth Estate reported that between 2014 and 2019 rents rose nearly 20% while incomes stayed largely flat. This … Read more

Finance Minister Chrystia Freeland has announced changes to federal mortgage rules intended to help more Canadians, especially first-time buyers, enter the housing market. Speaking to reporters, Freeland said the measures — set to take effect in December — will make home ownership attainable for a larger share of young Canadians and others trying to buy … Read more

Ask MoneySense I plan to sell my primary residence, a condo in downtown Toronto. I don’t have a mortgage, but I do have a substantial HELOC secured against the property. I borrowed several thousand dollars from it to buy equities and have been claiming the interest as an investment expense on my taxes. My lender … Read more

Welcome to Canada. If you are new here—whether as an immigrant, refugee, student or temporary foreign worker—you likely want to find employment and start earning as soon as possible. This guide explains who can legally work in Canada, how to apply for a work permit, what documents you need, where to look for work, and … Read more