When many people think of electric vehicles, Tesla is often the first name that comes to mind. Since launching its first EV in 2008, Tesla has expanded its lineup in Canada to include four models: the Model S, Model 3, Model X and Model Y. For drivers seeking a refined electric driving experience combined with … Read more

The Chevrolet Bolt hits a compelling balance of price, capability and features for many Canadians who want an accessible introduction to electric vehicle (EV) ownership. Resource highlight LoanFinder is moments away from showing your personalized loan matches In under 60 seconds, get matched with a tailored list of loan providers based on your needs and … Read more

Whether you’re already retired, nearing retirement or decades away, persistent inflation can make you question whether you’re saving enough. Inflation reduces the purchasing power of your savings, so higher inflation means higher living costs and more money needed to preserve your current standard of living. After the pandemic, Canada saw a substantial rise in inflation, … Read more

Tareq Hadhad is a Syrian-Canadian entrepreneur and the founder and CEO of Peace by Chocolate, the family chocolate company he relaunched in 2015. In 2012, while studying medicine and helping at his family’s chocolate factory in Syria, their home and workplace were destroyed in a bombing. The family fled to Lebanon, where Hadhad took part … Read more

Canadian real estate experienced a dramatic run over the last generation, shaping a widespread belief that buying a home is almost always better than renting. To illustrate, the composite benchmark home price in Canada rose from $380,700 in October 2013 to $731,700 in October 2023, peaking at $855,800 in March 2022. That represents roughly a … Read more

This is the first year Canadians can invest in a First Home Savings Account (FHSA). Like other registered accounts, the FHSA is designed to encourage saving by combining tax advantages with flexible investment options. Contributions are tax-deductible, and withdrawals used to buy your first home are tax-free—this includes any interest, dividends or capital gains earned … Read more

Before making an offer on your first home, you need to confirm your budget and save enough for a down payment—often around 20% of the purchase price. Canada’s housing market is costly, and putting down less than 20% typically requires mortgage default insurance, which can add significantly to your overall cost. There are several ways … Read more

During the pandemic many Canadians started a business or began offering freelance, gig or contract services. Three years later, a significant number are still navigating the often-confusing rules around business income reporting and self-employment tax deductions. Nathalie Hatter is one entrepreneur who turned a pandemic side project into an ongoing small business. A former corporate … Read more

Ask MoneySense I retired this year and my mortgage is coming due soon. My advisor said to keep the mortgage as rates are as low as possible and keep the money invested to keep making me money. I’m not sure this is wise, and my advisor works for the bank that holds my mortgage. What … Read more

If you’ve been watching guaranteed investment certificates (GICs) recently, it’s likely because recent interest rate hikes have driven returns higher. As the Bank of Canada raised its benchmark rate over the past year and a half, GIC yields have climbed. At several institutions, one-year GICs now offer about 5% or more, rekindling interest in these … Read more