We all have countless ways to spend our hard-earned money, and many Canadians divide purchases into two broad categories: material possessions and experiences. But how do you tell when an expense is truly an experience worth having? Is every purchase an experience? Research by Dr. Thomas Gilovich of Cornell University and colleagues, along with insights … Read more

One principle I try to follow in semi-retirement is that reducing stress can matter more than maximizing income. If you’re self-employed while semi-retired, like I am, you may find yourself balancing several clients and competing demands on your limited time and energy. Freelance work is unpredictable, and turning down paid assignments can be difficult—especially early … Read more

Two parents asked related questions about what happens when a child moves into a property that was previously a rental. Below we explain the tax consequences of a “change in use,” how the principal residence exemption works, and what triggers capital gains for each owner. Capital gains for family-used rental properties What are the tax … Read more

For nearly 25 years, MoneySense has delivered practical personal finance journalism for Canadians, covering everything from investing and taxes to groceries and household budgeting. I love this work and believe strongly in journalism’s public service: giving readers reliable information so they can make better financial decisions. At the same time, I have mixed feelings about … Read more

If you invest—or are considering doing so—you have likely encountered the acronym “ESG,” which stands for environmental, social and governance. These criteria are commonly used by Canadian investors when evaluating whether a company is an appropriate place for their capital. At first glance ESG may seem straightforward, but its rise into public awareness has been … Read more

Ask MoneySense I have a question regarding the RRSP Home Buyers’ Plan. I am a first-time home buyer. I need to use my RRSP, but the property I want to buy is a mixed-use property. We pay two kinds of taxes for this property: residential and commercial. I want to use the residential part of … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and provides context for Canadian investors. Hello again, MSOTM readers. I’m back from a short summer break and ready to refocus on where the markets might be headed. Many thanks to Dale Roberts for stepping in while I … Read more

With so much investing information available—often conflicting and confusing—it can be hard for Gen Z and Gen X investors to know where to begin. Social media “finfluencers” frequently promote specific stocks, which can encourage inexperienced investors to try day trading without understanding the risks. Before putting your money anywhere, do your homework: learn how an … Read more

Home Insurance Compare tenant insurance quotes from top providers in Canada In under five minutes, get a tailored tenant insurance quote from one of Canada’s leading providers—free. Click the button to begin. Get a free quote now* You will be leaving MoneySense. Just close the tab to return. How to compare tenant insurance quotes online … Read more

Markets have been surging: as of early July 2023, the S&P 500 is roughly 15% higher year-to-date and the Nasdaq about 30% higher. That rally is unfolding even as many forecasters warn of a potential 2023 recession, rising interest rates and persistent inflation. What explains these gains? A dominant tech rebound—led by a handful of … Read more