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More Canadians are rethinking their bank. Should you? + MORE Jul 23rd
Clinton Begin was growing tired of frequent visits to bank branches and calling into the trading desk to check on various transactions. “There (were) a lot of things that just took too much of my time. I was always phoning, always going to visit them. It was always a big deal,” he recalled.
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Toronto gas prices could hit record highs this summer. Here’s how reward programs could save you hundreds a year Jun 8th
We compiled some of the best loyalty programs and credit cards to help maximize savings..... More »
What the data isn’t showing about credit stress Apr 16th
The broad picture of household finances indicates that Canadians are generally managing through the upheavals of tariffs, a soft job market, inflation, and other headwinds, but looking deeper shows pockets of severe credit challenges.
The recent difficulties at Goeasy Ltd. give a hint of those .... More »
The best GIC rates in Canada for 2026 Jun 16th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
If you typically carry a credit card balance, you’re in good company. The recent Study of the Canadian Consumer (Winter 2026) by Vividata shows that more than 1 in 3 Canadians (36%) usually have a credit card balance from month to month. What’s striking, however, is the study’s finding that 49% of card holders are living paycheque to paycheque. That financial fragility is what makes tax season especially risky.
Many Canadians rely on their tax refunds to pay down debt or catch up financially, but when those refunds are smaller than expected (or, worse, turn into a bill), it can push already-stretched households further into debt, creating a cycle that’s hard to break.
We spoke with Stacy Yanchuk Oleksy, CEO of Money Mentors, about the challenges Canadians are facing, how to avoid a surprise bill at tax time, and what to do if you owe money after filing your return.
Why so many Canadians are vulnerable at tax time
The Vividata study polled 75,000 people nationwide to get an idea of the state of Canadians’ personal finances…
