The Bank of Canada expects that, provided economic activity and inflation evolve broadly as projected, it will be in a position to begin reducing interest rates later this year. However, governing council members remain divided on exactly when those conditions will be met and when cuts should begin. The central bank released a summary of … Read more

For many prospective buyers, the technical details of the Toronto housing market—percent changes, sales figures and interest rate shifts—matter less than a simple question: “What kind of home can I afford?” To help answer that, this article estimates the household income required to buy a home in Toronto and the Greater Toronto Area (GTA) using … Read more

Many Canadians intend to save for retirement but, due to careers interrupted by low pay, caregiving, unemployment, or other financial strains, end up with little in the way of personal savings. When retirement arrives with limited savings, it can feel overwhelming—but there are dependable public benefits and practical strategies that can form a foundation for … Read more

Ask MoneySense We’re considering retiring to Mexico full time. Where would we pay income tax on our monthly Canadian pensions? —Marianna Many Canadians imagine retirement that includes spending long stretches abroad. Some move overseas part of the year, others settle permanently and change their country of residence. Tax obligations depend on where you are considered … Read more

On top of Canada’s Big Six banks—RBC, TD, Scotiabank, BMO, CIBC and National Bank of Canada—an increasing number of fintechs and neobanks now offer personal banking products and services. Choosing the right bank depends on your needs: day-to-day banking, savings goals, mortgages, investments or whether you’re a student, senior or newcomer. This guide highlights the … Read more

The Canada-Wide Early Learning and Child Care plan (CWELCC), the federal initiative to create 250,000 new, affordable child care spaces across Canada and to bring the average cost to families to roughly $10 per day by 2026, has sparked widespread public discussion—from social media to playgroups and daycare centres. While the program is not without … Read more

Filing income taxes in Canada can be tricky, and it’s often more complicated for gig workers who are treated as self-employed. Whether you drive for a rideshare service, deliver food, or work other independent gigs, understanding how the tax system applies to you will reduce stress and help you keep more of what you earn. … Read more

Canada’s annual inflation rate unexpectedly fell to 2.8% in February, driven largely by steep declines in wireless and internet service prices and by a slowdown in grocery price growth. The February consumer price index from Statistics Canada, released Tuesday, shows inflation softened for a second consecutive month. Economists had widely expected the inflation rate to … Read more

Getting a driver’s licence is a major milestone for people living in British Columbia. For many, it represents freedom, independence and convenience. In a province full of scenic drives and provincial parks, a licence makes it easier to explore everything B.C. has to offer. Still, the process of obtaining a licence in B.C. can be … Read more

Financial topics rarely make the list of comfortable first-date conversation starters. Even long-term partners can struggle to raise subjects like retirement savings or estate planning. Yet as the cost of living rises and people try to plan for the future, money is becoming a more frequent and necessary dinner-table discussion. There’s a stigma around talking … Read more