ReportWire

Tag: spend

  • How to find cheap flights anywhere – MoneySense

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    Thankfully, I’ve picked up a few tips for hunting down cheap (or at least cheaper) flights from Toronto and beyond. Here’s how I keep my flight costs down while keeping my sense of adventure up.

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    8 ways to save on flights 

    From travel apps to credit card rewards, here’s how Canadian frequent flyers stay on budget.

    1. Search the smart way

    The first site I always check when booking a trip is Google Flights, which has a ton of tools many people don’t know about. In addition to listing flights, it can help you find lower prices. For example, you can set alerts for price changes for your preferred dates or for any date for a given destination. It also shows you a price grid for alternative dates, and a graph that predicts when fares will peak.

    Last year, Google Flights added an AI feature that lets you describe your ideal trip—for example, “family weekend ski vacation in Canada” or “one-week trip to a city with great museums and architecture.” Google will then search for the best destinations and flights that match that query. 

    The feature is still in beta mode, so you need to be signed into your Google account to access it. There are also limits on what you can search. For example, it won’t find you multi-city trips or layover requests.

    I’m also a fan of Hopper, which is Canadian-owned. The app tells you whether now is a good time to book or you should wait. If Hopper recommends waiting, you can “watch this trip” and receive an alert when it’s a better time to buy.

    If you find a good price but need more time to decide, you can pay for Hopper’s “Price Freeze” option to hold the fare for one, three, seven, or 21 days. If the price of the flight rises, Hopper will cover the difference up to $406. If the price falls, you pay the lower price, and if the seat is sold out, you get a refund.

    The Price Freeze fee varies by the time window and ticket price. For example, for a $192 Toronto–Montreal flight in mid-June, the quoted fee was $24 for three days and $50 for 21 days. For a $1,016 Vancouver–Hanoi flight in April, the fee was $57 for three days and $122 for 21 days.

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    2. Book at the right time

    There’s a sweet spot for when to book your flight. For domestic flights, one to three months in advance tends to yield the best prices.

    For international trips, Hopper recommends you start flight shopping sooner—about three to six months before departure. You might find great deals just a month prior, but you risk not getting your preferred airline, flight route, or seat.

    The day you book can also help save money. According to Expedia’s 2025 Air Hacks Report, booking on Sunday gets you the biggest savings.

    3. Fly at the right time

    If you can, avoid flying during peak periods (March Break, Christmas, etc.), when flights can jump by hundreds of dollars.

    Of course, not everyone has the flexibility to choose when they vacation, but you could still save by changing your travel dates by a day or two. For example, flying midweek is almost always cheaper than flying on weekends and can reduce the cost by $50 to $100 or more.

    This is especially true during those peak times. As of writing, a direct Air Canada Rouge flight (Standard Economy) from Toronto to Cancún during March Break is $2,052 if you fly Sunday to Sunday. But if you’re able to do Monday to Monday, that same flight drops to $1,373. 

    When you’re searching for flights or setting alerts, tick the “flexible dates” option so you’ll be notified about cheaper fares on alternate dates.

    4. Opt for the layover

    Direct flights are typically more expensive than those with a stop along the way. While a layover can be a pain—especially if you’re on a tight schedule—spending a few extra hours in an airport may be worth it if the savings are significant.

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    Tammy Burns

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  • Real money hacks to use when prices feel out of control – MoneySense

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    In November 2025, Statistics Canada reported that the Consumer Price Index (CPI) was up about 2.2% year‑over‑year, driven by higher grocery and other household prices. Grocery prices alone rose almost 4.7% over the same period—one of the highest increases since late 2023. 

    Meanwhile, surveys show that Canadians are still feeling the squeeze. In late 2025, more than four in five Canadians cited inflation as a top concern, and more than half said their income is not keeping up with rising prices. 

    All of this makes saving money and finding creative ways to stretch the dollar not just desirable, but necessary. Personal finance gurus often offer the same basic advice—drop your daily coffee order, pack your lunch, cancel that subscription—and, yes, those things help. But there are other, more practical ways to put money back in your pocket that you might not be doing yet.

    Below are some everyday hacks based on real tools and experiences Canadians have shared with me—and none of these is sponsored.

    1. Get compensated for flight delays with Airfairness

    Whether you’re heading home for the holidays or trying to grab a last‑minute getaway, flight disruptions are stressful, and expensive. What many travellers don’t realize is that if your flight is delayed more than three hours or cancelled, or you’re denied boarding due to overbooking, you may be entitled to compensation from the airline—and not just with gratuitous food vouchers.

    Airfairness is a Canadian‑based online service that helps passengers claim this compensation—often up to several hundred dollars, without your having to navigate complicated airline rules yourself. It works by checking your flight details against eligibility and then helping submit a claim on your behalf. Companies like Airfairness have helped thousands of travellers recover money they didn’t even know they could claim. 

    If you’ve been out of pocket after a trip went sideways, this is one of those hacks that’s truly money you didn’t know you could have back.

    2. Save on produce with OddBunch.ca

    Grocery prices were one of the bigger pain points for Canadian households in 2025. While the headline inflation rate may look moderate, food prices, especially fresh produce and meat have grown faster than the overall Consumer Price Index. 

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    OddBunch.ca is a great way to cut that cost without sacrificing nutrition. It’s a grocery delivery service available in most provinces (not in Atlantic Canada—yet) that sources “odd” or imperfect fruits and vegetables that don’t meet visual retail standards but are otherwise perfectly good. Because these items would otherwise go to waste, they’re delivered at a significant discount—and it doesn’t matter if the produce isn’t picture‑perfect.

    Many Canadians I’ve spoken to say their weekly grocery costs dropped noticeably once they started using this and similar services for basics like carrots, potatoes, apples and leafy greens.

    3. Cut prescription costs with InnoviCares

    Prescription drugs are a huge part of many household budgets, and brand‑name medications can be shockingly expensive if you’re paying out of pocket. InnoviCares is a free prescription savings card used across Canada that helps you lower the cost of brand‑name medications by applying eligible savings at the pharmacy. 

    You present the card when your pharmacist fills a prescription, and the discount is applied automatically if your medication is covered. The best part? It works in addition to your existing insurance plan, not instead of it, so you don’t have to choose between the two. It’s not available for every drug, but for those where it is, this can mean tens or even hundreds of dollars saved annually, at no cost to you. Millions of Canadians have already used this card to cut their drug costs without switching brands.

    4. Buy used books (even on Amazon) instead of paying full price

    Let’s be honest, books are expensive. Fiction, non‑fiction, textbooks, manuals—they add up. One simple way to save when you want a book but your budget says “maybe later” is to buy it used.

    Platforms like Amazon’s used books marketplace often list the same title at a fraction of the new‑price cost. The books are typically in good condition, may ship at low cost or for free if you have a Prime membership, and you still get the same content for much less. It’s a small habit, but over time it can save a surprising amount while still letting you read what you want, when you want.

    Earning, saving and spending in Canada: A guide for new immigrants

    5. Time rewards offers on credit and loyalty programs

    Most Canadians carry at least one rewards credit card, and many don’t use them strategically. One easy hack is to pay attention to bonus offers, spot promotions and point multipliers, and to time your purchases accordingly.

    Drug stores, gas stations and large retailers, for example, frequently run 4x or 5x points promotions for certain categories. If you’re planning a pharmacy run or a fill‑up anyhow, doing it during a promotion can dramatically increase your points earnings, which you can redeem for travel, statement credits or gift/grocery cards later. This doesn’t mean spending money you wouldn’t otherwise spend, but it does mean you squeeze more value out of everyday expenses.

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    Vickram Agarwal

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  • BMO eclipse rise Visa Card Review – MoneySense

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    With our BMO eclipse rise Visa review, we’ll walk you through the basics of the card and the important details you should be aware of before applying.

    Who is the BMO eclipse rise Visa best for?

    If you’re a student, newcomer, or someone who’s building their credit score and income, the BMO eclipse rise Visa card is a good option. You can build your credit while participating in the BMO Rewards program and enjoy basic features, such as mobile device coverage.

    BMO eclipse rise Visa: The basics

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    BMO eclipse rise Visa Card

    Annual fee: $0

    Rewards: 5x Five times the BMO Rewards points for every $2 spent on recurring bill payments, groceries, dining and takeout.

    Welcome offer: Get 20,000 points and a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee. Plus, earn up to 5,000 bonus points every year.

    Card details

    Interest rates 21.99% on purchases, 23.99% on cash advances (21.99% for Quebec residents)
    Income required None
    Credit score None

    To give you a quick idea of whether or not this card might have the features and benefits you’re looking for, check out its basic characteristics.

    Earn rates 5 points per $2 spent at dining, groceries, recurring bills, and takeout1 point per $2 spent on everything else
    Insurance included Extended warrantyPurchase protectionMobile device
    Special perks and features Participates in the BMO Rewards programBalance transfer promotionAnnual bonus opportunity when you pay on timeWelcome bonusAvailable to students and newcomers7 cents off per litre at Shell
    Fees 2.5% foreign transaction fee on purchases made outside Canada.
    Minimum credit limit Any amount
    Supplementary card cost $0

    Pros and cons of the BMO eclipse rise Visa

    Every card has benefits and drawbacks to consider. Think about these points before submitting your application.

    Pros:

    • Easy to qualify for: Students and newcomers will find it especially easy to qualify, since there’s no income requirement.
    • No annual fee: The rewards you earn are simply money back in your pocket since you’re not paying to use the card.
    • Free supplemental cards: Feel free to add an authorized user to your account since there’s no additional cardholder fee.

    Cons:

    • Low earn rate: Compared to other no fee credit cards, this card doesn’t earn reward points as quickly, and bonus categories are limited.
    • Limited insurance coverage: You’ll get basic extended warranty and purchase protection plus mobile device coverage, but no travel insurance.
    • Low point value: BMO Rewards points aren’t as valuable as other reward program points, especially if you’re not using your points for travel.

    BMO eclipse rise Visa rewards explained

    This entry-level BMO credit card is fairly straightforward in how it earns BMO Rewards points. 

    You’ll get 5 points per $2 spent on:

    • Dining
    • Groceries
    • Takeout
    • Recurring bills

    There might be some variation in how stores are categorized, so take a look at your bank statement to see if you’re earning increased rewards. Look for the merchant code “Grocery” or “Dining”. Warehouse clubs, big-box retailers, and discount stores may not code as grocery.

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    BMO caps increased earnings at $5,000 after you spend on groceries, dining, takeout, and recurring bills in a year. After you max out, you’ll continue to earn the base rate of 1 point per $2 spent.

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    BMO eclipse rise Visa perks and benefits

    Sometimes, a card’s features are more important than its reward structure. This is especially true if you’re trying to qualify for a card or move your existing credit card balance. 

    Balance transfer promotion

    If you have existing credit card debt with a card not issued by BMO, you can transfer your balance to the eclipse rise Visa and enjoy a 0.99% interest rate on it for 9 months. You will have to pay a 2% transfer fee, but the low balance transfer interest rate lets you quickly pay down your current credit card debt.

    Canada’s best credit cards for balance transfers

    Annual bonus rewards

    BMO rewards you for making consistent payments. If you pay your balance in full every month for 12 months, you’ll get 2,500 bonus points. And, if you redeem at least 12,000 BMO points for statement credits during a year, you’ll get another 2,500 points.

    Flexible redemption options

    Of the three no-fee credit cards BMO offers, only the eclipse rise Visa gives you BMO Rewards points. You can redeem these for travel with any provider for the most value. Otherwise, you can use the points for BMO investments, request gift cards or prepaid credit cards, purchase merchandise, redeem them for Apple products, or apply them towards your statement balance. The choice is completely yours.

    What cardholders think

    We always like to search for feedback from real cardholders, but when we turned to Reddit to learn more about the BMO eclipse rise Visa, we were surprised by the lack of discussion. 

    One cardholder simply said it was the best no-annual-fee travel card, and another considered applying for the card just to get the mobile device coverage.

    After searching for feedback, we found most cardholders are talking about the BMO eclipse Visa Infinite, which has an annual fee but offers better earn rates in the BMO Rewards program (as well as better insurance coverage).

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    Jessica Gibson

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  • How much are Canadian families (really) spending on extracurricular activities—and can they afford it? – MoneySense

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    “Unfortunately, they ended up liking it,” Christine jokes. As her daughters got older, they signed up for additional dance classes. Fees increased over time and two years ago, her oldest daughter joined the studio’s competitive team. Christine now pays $731 per month for various classes plus several thousand dollars in competition fees, costume fees, and travel expenses throughout the year—not to mention the cost of swimming lessons and other activities. 

    While Christine and her husband have the means to cover these expenses, she knows that many others aren’t in the same position. “And when your kids are enjoying it, you don’t want to take it away.”

    Current data is lacking, but a 2001 report from the Government of Canada indicated that 86% of Canadian children between the ages of 6 and 17 had participated in one or more extracurricular activities. A 2017 Ipsos report shared that 71% of Canadian parents felt that it was important to keep their kids busy with organized activities, and data from the same year suggested that parents pay an average of $1,160 per year on extracurriculars. 

    Perhaps most importantly, the same report found that 55% of Canadians felt financial strain due to their children’s extracurricular fees, and 32% of families were going into debt to fund these activities.

    To learn more about how much families are paying and how they can make extracurriculars fit into their budget (or not), we spoke to Lianne Hannaway, a CPA and wealth coach in Toronto.

    A look at the numbers

    The cost of extracurricular activities for children varies wildly by type, location, and organization, and can also take many different forms: six weeks of art lessons, a summer baseball league, 10 months of dance classes per year or year-round swim lessons, for example. Some activities require payment in full at registration and others come with a monthly bill. Many competitive sports teams have registration fees on top of monthly costs, and parents are almost always responsible for purchasing equipment—not to mention add-ons like spiritwear, plenty of concession stand coffees, and the occasional pound of wings after a game.

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    While the average family in Canada pays $1,160 a year for after-school activities, the cost can be substantially higher for those in high-cost athletics, activities with a travel component, or specialty programs—even more so if you have multiple children enrolled. Here are some current examples from Canadian parents:

    • “I pay around $5,500 a year for my 14-year-old daughter’s competitive volleyball team and $6000 a year for her competitive dance.” —Elizabeth in Hamilton, Ontario
    • “$1,375 per year for each of my two kids’ theatre lessons. And then we pay to see them perform!” —Sophie in London, Ontario
    • “$489 per month for competitive dance plus around $2,500 in added costs during competition season.” —Carrie in Burlington, Ontario
    • “$150 per month for cello lessons plus $500 a year to rent the instrument.” —Emily in Toronto, Ontario
    • “$243 per month for vocal lessons, $1,413 per year for student theatre, $840 in annual fees for jazz orchestra, and $2,800 for a summer music academy in Cuba.” —Maureen in Burlington, Ontario
    • “With three kids in competitive cheer, baseball, and hockey, I pay more for their activities than I do for my mortgage when factoring in travel, hotels, for tournaments, etc. We paid for 40 hotel nights in 4 different provinces in 2025 alone.” —Amanda in Ottawa, Ontario
    • “$10,000 a year for competitive dance including lessons, competitions, costumes and other fees.” —Caitlin in Toronto, Ontario
    • “Our son made a rep hockey team and we ended up saying no because the registration fee alone was $3,000. He’s seven!” —Annie in Burlington, Ontario

    Dealing with pressure—and sticking to what you can afford

    Putting your kids in extracurricular programs isn’t just about keeping them busy after school or nurturing their talents. For many parents, there’s an underlying pressure to provide exposure to a diverse array of experiences, giving your children valuable enrichment experiences and/or helping them keep up with their peers. That pressure can lead to excessive spending—especially if your kids fall in love with a high-cost activity.

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    Whether your child is into music, dance, sports, or art classes, Hannaway notes that these activities have to fit into your family’s budget. “Saying ‘yes’ to an activity that will create financial stress is not a gift to your children,” she emphasizes. This doesn’t necessarily mean saying no to extracurricular programs; more so, Hannaway suggests being choosy about what form the activity takes.

    “When your kids are young—under 12—keep it local and exploratory,” Hannaway suggests, noting that as your kids get older and hone in on their passions, you may want to invest more in a specific activity. But there’s no need to join an expensive sports team with a travel component when your child would also enjoy playing for a local team with significantly lower costs. Unless they’re the next Sidney Crosby, Hannaway says, house league will let them enjoy the same sport at a more affordable price point. “The idea isn’t excellence; it’s exposure. And the cost has to be in line with your financial reality.”

    Affordable options and savings tips

    Once you know how much rep hockey or competitive dance costs, it can be hard to believe that affordable extracurricular programs exist—but fortunately, they do. 

    If you’d like to enroll your kids in programs that don’t break the bank, start by exploring what’s offered through your local library and/or community centre. There may be weekly or drop-in programs including dance, gymnastics, art, coding, and more. City-run swimming lessons are far more affordable than lessons at private pools, and your community may have youth clubs that are free or involve minimal fees to join. Another low-fee option is joining the Beaver Scouts or Girl Guides of Canada, which typically costs less than $300 for the entire year. Older kids can also join school-based sport or dance programs for an enriching, team-building athletic experience that doesn’t come with a big monthly bill.

    If your child is registered in more expensive activity options, there are several ways to lower your costs, Hannaway says. Keeping activities local will always cost less. Buying secondhand equipment is a major cost-saver, and equipment swaps are an excellent opportunity to size up without paying much (or anything). Many youth teams and clubs hold fundraisers to lower costs for families, and some will lower your fees if you volunteer within the organization.

    If your kid is dedicated to an activity that’s slightly out of your budget, there are ways to get creative. “You can redirect gift giving from grandparents,” Hannaway suggests. “It’s a real game-changer if instead of buying toys, the grandparents give a hockey stick, for example.” She adds that when this happens, it often encourages grandparents to attend games because they’ve invested in the activity. This adds to your child’s support network in more ways than one.

    A great childhood doesn’t require a huge price tag

    As parents, we all want the best for our kids—but that doesn’t mean putting yourself into debt to avoid disappointment or keep up with the Joneses. Simply put, if an activity is not within your means, it’s not the right call for your family. Instead, do the best you can do within your budget, and remember that unstructured play and downtime are beneficial for kids, too. 

    “Guilt is the #1 enemy of good financial decisions,” Hannaway asserts, encouraging parents to create financial boundaries and stick with them. “When an expense doesn’t fit into your family’s financial reality, it’s a great opportunity to teach kids that financial decisions involve trade-offs. Kids can handle the truth. Share your financial wisdom with them. It’s not deprivation—it’s a life lesson.”

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    Erin Pepler

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  • Opinion | The Oct. 7 Warning for the U.S. on China

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    Hamas’s shock troops poured across Israel’s border two years ago, kidnapping, raping and killing civilian men, women and children. Israel’s bitter experience offers lessons America should learn before our own moment of reckoning.

    The most important is that the hypothetical war can actually happen. Even if we’re intellectually prepared, there’s a risk that years of relative peace has lulled us into a false sense of security. The Israeli defense establishment never truly believed Hamas would launch a full-scale invasion. They viewed Gaza as a chronic but manageable problem—one for diplomats and intelligence officers, distant from the daily concerns of citizens. Israeli politicians and generals also spoke of open conflict with the Iran-led Islamist axis much like their American counterparts speak of China and a Taiwan crisis—the pacing threat and the most likely test, yes, but ultimately a question for tomorrow. Then tomorrow came.

    Copyright ©2025 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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    Mike Gallagher

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  • Opinion | Japan Gets New Kind of Leader

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    Sanae Takaichi, a hawkish nationalist, wants to make her country great again.

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    Walter Russell Mead

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  • Canadians will see savings from reduced credit card processing fees – MoneySense

    Canadians will see savings from reduced credit card processing fees – MoneySense

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    The small business group has, however, noted that not all processors have been clear that they’ll pass on the savings, pointing for example to Stripe where not all customers will see a change. 

    Kelly said Stripe’s decision means the company would keep the savings that were intended for small business customers.

    “It’s extremely disappointing to see a big company take this approach,” he said.

    Stripe says customers on its Interchange Plus plan, which sees costs vary by transaction type, will see the fee reductions passed through, just like other network cost and fee changes.

    But those on its flat-rate plan won’t see a change, because the company says it has seen other costs and fees rise that add up to more than the reduction in interchange fees. 

    Other processors such as Moneris have said that qualifying businesses on both its interchange plus and flat rate model will see a reduction.

    Government expects processors to pass on savings

    Finance Ministry spokeswoman Marie-France Faucher said the fee reduction should benefit about 90% of businesses that accept credit cards, and the department expects companies to pass on the savings.

    “The federal government is closely monitoring the implementation of the credit card fees reduction, with the strong expectation that all payment processors like Stripe will pass the savings on to small businesses.”

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    The Canadian Press

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  • Driving underwater: Is your car worth less than what you’re paying for it? – MoneySense

    Driving underwater: Is your car worth less than what you’re paying for it? – MoneySense

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    “We saw some rare (price) appreciation during the time that consumers were purchasing these high-priced cars,” Daniel Ross of Canadian Black Book said of the auto market during the pandemic years. 

    Global supply chain disruptions stemming from the pandemic left the auto market with low inventory—and coupled with high consumer demand—auto prices surged, Ross said. 

    Some of those issues have since begun to normalize, allowing prices to ease, but it’s left some consumers owing more on their auto loan than the car is now currently worth. It’s referred to as negative equity, or being underwater. 

    As with the vast majority of vehicles, they’re a depreciating asset, so for those who purchased their car when prices were high, their “vehicle will continue to lose lots of value because it was probably overpriced at that time,” Ross said. 

    Should you trade in your car for a cheaper one?

    On average, people who were underwater saw the negative equity in their cars climb to a record high of USD$6,255 in the second quarter this year, compared with USD$4,487 in the second quarter of 2022, a July report from auto retail platform Edmunds showed.

    Trade-ins with negative equity also jumped, Edmunds said in its report.

    “If you’re in a negative equity position, it’s not easy to get out of that,” Ross said. 

    For drivers who are in this situation, it’s better to drive that car into the ground and just keep paying off the loan, he said.

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    The Canadian Press

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  • Which savings should retirees draw down first? – MoneySense

    Which savings should retirees draw down first? – MoneySense

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    Working as a financial planner, I am often asked, “What is the most tax-efficient way to draw down on investments?” From the outset, I question if a decumulation plan based on tax efficiency is the best use of someone’s money. I wonder whether it is even possible to design “the best” long-term, tax-efficient withdrawal strategy.  

    I have modelled many different combinations of withdrawal strategies, such as RRSP first, non-registered first, blending the two, depleting registered retirement income funds (RRIFs) by age 90, dividends from a holding company, integrating tax-free savings accounts (TFSAs), and so on. In most cases, there is no significant difference to the estate over a 25- or 30-year retirement period, with the odd exception.

    You may have read articles suggesting the right withdrawal strategy can have a major impact on your retirement. The challenge when reading these articles is you don’t know the underlying assumptions. For example, if the planner is using a 5% annual return, is it all interest income and fully taxable? What is the mix of interest, dividends, foreign dividends, capital gains and turnover rate that makes up the 5% return? There is no standard all planners use, which leads to confusion and can make things seem more complicated than they need to be.

    Think spending, not decumulation

    Here is my approach to designing a decumulation plan. First, think about my opening. You have about 20 years of active living left to get the most out of your money. What do you want to do? Twenty years from now, do you want to look back on your life and say, “I sure was tax-efficient,” or would you rather say, “I had a great time, I did this and that and I helped…” I write this because it is not uncommon for me to see people be too restrictive on their spending in the name of tax efficiency, or not wanting or having the confidence to draw down their investments when they could.

    Stop thinking decumulation; that puts the focus on the money. Instead, think spending. How do you want to spend your money? I know you can’t predict over 20 years, so focus on this year. How can you make this a fantastic year while living within your means? Do you even know the limit to your means? 

    Now prepare an expense sheet so you can see where you are spending your money and where you want to spend it. This is where a financial planner with sophisticated software can help. Have your expenses modelled and projected over time. Will your income and assets support your ideal lifestyle or even allow you to enhance your lifestyle?

    Now do the math

    Once you have a spending plan supported by your income and assets, do the projections showing different withdrawal strategies. You need the spending plan first, because the amount and timing of your spending dictates the withdrawal plan. Plus, detailing your spending gives you a better view behind the curtain to see the impact of spending amounts and frequency on tax and capital changes of different withdrawals. What does spending on things like vehicles, special vacations and renovations mean?

    I suspect that as you work through this exercise, ideally with a planner capable of using sophisticated software, you will see that the withdrawal order doesn’t matter too much and can be easily influenced by various assumptions. If that is your result, you are in a good position. It allows you to manage your affairs so you are tax-efficient each year. 

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    Allan Norman, MSc, CFP, CIM

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  • Taking care of tech: How to get the most life out of your smartphone – MoneySense

    Taking care of tech: How to get the most life out of your smartphone – MoneySense

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    Samsung, meanwhile, says its lithium ion batteries do best when kept above 50% charge. It advises against running the battery down.

    “Repeatedly allowing the battery to drain fully may shorten its life and decrease its overall capacity,” the company says in an online guide. “If this happens, you’ll need to charge the battery more frequently and it may last only a few hours before needing a charge, for example.”

    Avoid extreme temperatures

    Apple says says that batteries warm up as they charge, which can shorten their lifespan. It warns against using your phone or charging it in very hot temperatures, above 95 degrees (35 Celsius), “which can permanently reduce battery lifespan.”

    Samsung also says extreme heat or cold can damage batteries and warns people not to, for example, leave their phones in a car’s glove box when it’s very hot or cold. And don’t put your phone in a freezer either, it’s a myth that it can prolong battery life. “This is not correct and can damage your battery,” Samsung says.

    Google, which makes the Android operating system and Pixel phones, says hot batteries drain faster, even when they’re not in use, and that can damage the battery.

    Adjust your power options

    Tweak your device settings so apps or features use less power, which extends your battery’s daily life and the time between charging cycles.

    You can turn down your phone’s screen brightness, turn on the dark theme and reduce the time for the screen to power off. Enable the auto-brightness feature, which adjusts screen brightness according to the level of ambient light. Also check battery usage in your settings to see if there are any power-hungry apps you can switch off or uninstall.

    If the power level dips below 10%, iPhone users can turn on low power mode to stretch their battery’s life before it need recharging. Samsung’s Android phones have a similar “power saving mode.” You can also leave it on all the time, but it might affect your phone’s performance.

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  • Why is the cost of hearing aids so expensive in Canada? – MoneySense

    Why is the cost of hearing aids so expensive in Canada? – MoneySense

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    Pretty cool, right? But these advanced hearing aids are not cheap. They’re essentially driven by “mini computers,” and there are costs associated with customization, distribution and professional services, says Glista. 

    At Hotel Dieu Shaver, the independent Niagara Region clinic where I went, non-AI hearing aids range from $3,551 (Phonak L50-R model) to $5,561 (Phonak L90-R model) after the $1,000 Ontario discount has been applied. In contrast, prices for Starkey AI hearing aids range from around $5,000 for the mid-level model (Genesis AI 16) to $7,000 for the highest tech level (Genesis AI 24), again with the $1,000 Ontario discount applied.  

    Yet another high-cost contributor is that, unlike over-the-counter aids that you purchase directly from the manufacturer, today’s digital hearing aids provided through an audiologist are often tweaked through a computer. 

    Using hearing-aid fitting software, an audiologist can select, program and fine-tune the hearing aids. “This includes programming related to sound level and frequency-specific adjustments, based on the person’s hearing loss,” says Glista. “Programming customization also includes other measurements such as real-ear measures to capture how large the person’s ear canal is and ensure that the hearing aids deliver the correct amount of amplification at the eardrum.”

    When you visit a hearing clinic, ask for a detailed breakdown of costs associated with different treatment options, payment options including insurance and government assistance, and follow-up and support services offered. Some hearing health-care providers bundle follow-up maintenance of the hearing aids into their pricing, says Glista. They may also spend time helping patients to develop a listening strategy they can use at work, at home and while participating in hobbies.  

    How much does a hearing test cost?

    Before you get a pair of hearing aids, you’ll want to get your hearing tested at a clinic, which is also where you’ll buy and be fitted for your hearing aids. Some hearing clinics offer hearing tests for free, while others charge about $100. 

    Do insurance and government benefits cover hearing aids?

    Financial support for hearing aids may be available in your province or territory, as part of a broader program for assistive devices and disability supports. For instance, Ontario’s Assistive Devices Program (ADP) pays up to $500 per ear toward the purchase of new hearing aids, for approved applications. (You’ll have to pay for the hearing assessment or find a free one, though—the ADP doesn’t cover that cost.) To qualify, you must be an Ontario resident, have a valid health card, and need the hearing aids for at least six months. Income isn’t a consideration for the ADP.

    So, if you’re an Ontario resident and you buy a $5,000 pair of hearing aids, the audiologist will deduct the $1,000 paid for by the ADP, bringing your cost to $4,000. (There’s no sales tax on hearing aids.) If you’re in a 20% marginal income tax bracket, after claiming the balance you paid as a medical expense at tax time, your end cost is reduced to $3,200. Note, however, that for the 2024 tax year, you can only claim eligible medical expenses minus 3% of your net income or $2,759 (whichever is less)—so, some or all of your medical expenses save no tax. (Learn more about claiming medical expenses.)

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    Mark Douglas Wessel

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  • Why is booze so expensive in Canada? – MoneySense

    Why is booze so expensive in Canada? – MoneySense

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    According to Statistics Canada, store-bought alcoholic beverages rose in price by 5.9% between March 2022 and March 2023, and the price of liquor in general rose another 2.3% from June 2023 to June 2024. 

    Why are these prices going up so fast, and how can you enjoy cocktail hour without going over budget? Read on for some intel.

    What factors affect the price of alcohol?

    Alcoholic beverages don’t just spring fully formed from the Earth. They’re the product of base ingredients, sweat equity and time, plus the other supplies needed to get it to your glass, like packaging, labelling and transportation. These are all subject to the same general high inflation seen globally over the past few years.

    For instance, a simple can of beer has a lot of inputs: grain crops (like barley or wheat) and other ingredients (like hops or flavourings), water, aluminum and labels, plus the energy to run the production line. If the cost of any of these items goes up, that’s going to affect the price of beer. That’s not even considering wages, which are a big factor as well. And if you’re buying that can of beer at a bar or restaurant, add on their business overhead and profits, too. 

    And then there’s taxes. These are hard to sum up, since every province and territory is different, but you can count on the fact that the price of your glass of wine or G&T includes some money for the government. The argument, of course, being that that cash goes back into things we need and use, like health care, education and public services.

    Other official policies matter too. For instance, in Ontario, the Liquor Control Board and the provincial government set minimum prices for beverage alcohol. But everyone has to pay federal taxes on alcohol, which currently amount to between $0.04 and $0.74 on a six-pack of beer, $0.54 on a standard bottle of wine and $4.07 on a typical 750-mL spirits bottle. That applies no matter where you’re buying your beverage.

    Then there’s climate change. Grapes for wine, rice for sake, wheat or corn for vodka: no matter what crop goes into your drink of choice, it’s being affected by changing weather patterns. A local example: in British Columbia, the 2024 grape crop was almost completely destroyed due to abnormal winter weather. Drought, heat waves and smoke from wildfires are hard on vineyards, too, meaning the more we experience these negative effects of climate change, the harder it’s going to be to make wine. 

    What about non-alcoholic drinks?

    Very low-alcohol versions of beer, wine and spirits have become popular in recent years. But, you might have noticed they’re not exactly cheap either. That’s in part due to the same factors that affect alcohol prices: Raw ingredients, packaging, manufacturing, transportation and labour costs. Then the alcohol is typically removed after the beverage is manufactured, meaning it takes more time and effort than the boozy formula. In other words, this isn’t a simple can of pop: zero-proof takes on beverage alcohol are more expensive to make than the originals.

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    Kat Tancock

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  • As food costs rise, our grocery shopping habits are changing – MoneySense

    As food costs rise, our grocery shopping habits are changing – MoneySense

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    Shoppers are switching stores or travelling farther for better deals

    For some Canadians, saving money on groceries involves switching stores—something the major grocers have taken note of, as they’ve been expanding their discount store footprints to capture demand for better deals. 

    Some shoppers are travelling a little farther for their groceries, even going to multiple stores to take advantage of all the available promotions, while others are trying to prioritize spending their money at independently owned grocers.

    Craig Treulieb in Kitchener, Ont., said instead of doing the bulk of his shopping at Superstore, he has diversified his shopping trip. He now takes a bit more time, hitting up Food Basics and local independent stores. 

    “We used to not be super concerned about shopping deals and generally found Superstore’s prices to be OK, good enough. And it was convenient doing one shop,” he said. 

    Treulieb has also signed up for a weekly farm vegetable box, and is buying more in bulk at Costco. 

    Michael Ianni in Vancouver said he grew frustrated with the prices at his nearby Safeway, and has started travelling farther to go to independent small stores in his area.

    “I go and take a nice stroll on Commercial Drive, and I find other stores, and there’s sometimes cheaper prices or comparable,” he said. 

    “For me, it just feels better to support them. And sometimes if you look, you can find better deals.” 

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    The Canadian Press

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  • How to find a budgeting app that works for you – MoneySense

    How to find a budgeting app that works for you – MoneySense

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    “You can make them the way you want instead of trying to fit into the box that the app has given you,” she said.

    Are budgeting apps secure?

    Meanwhile, Fry says she doesn’t often recommend her clients use budgeting apps because of security reasons and instead encourages them to record expenses manually.

    Cybersecurity needs to be a top priority when choosing a financial app that uses, links to and even stores sensitive banking and credit card data.

    Traditionally, when people sought financial help, people would go see an adviser and talk money in private and would know that information is safe with the professional, said Robert Falzon, head of engineering at cybersecurity firm Check Point Software Technologies, Ltd.

    “With using apps online, we’re doing the same thing but there is no expectation of safety,” he added.

    Data theft often tops the list of concerns among budgeting app users, but Falzon said there are ways to work with these apps safely.

    Using strong passwords and multi-factor authentication can help prevent breaches right from the start, he said. Using bank-provided budgeting apps that are local to Canada, or tools from reputable organizations, can also help avoid vulnerabilities.

    Other safety tips include using apps that have encryption and a robust security protocol, Falzon said. Making sure there’s security software on mobile devices and that people are not using public Wi-Fi to access their banks or financial apps.

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    The Canadian Press

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  • How to Spend a 24-Hour Staycation in Downtown Chicago

    How to Spend a 24-Hour Staycation in Downtown Chicago

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    Tourists rarely make it out of Downtown Chicago to explore what the city’s neighborhoods have to offer, and locals looking to play tourist can gain a new perspective by spending the weekend there. For all the big chains and kitschy tours, there are world-class attractions, bars, and restaurants you can enjoy by just hopping on the El. For some inspiration, check out Eater Chicago’s ideal itinerary for a staycation weekend in Downtown Chicago.

    Where to Stay

    There is no shortage of great hotels downtown, which means you have plenty of options based on your budget and priorities. If you want to break up the day with a bit of lounging, the Viceroy Chicago on the Gold Coast features a rooftop pool with a view of a sliver of Lake Michigan through the skyscrapers. The InterContinental Chicago Magnificent Mile puts you in the heart of the action, while Virgin Hotels Chicago has quirky charms and a free happy hour if you sign up for their loyalty program. If you’re looking to splurge, the St. Regis Chicago Hotel has amazing waterfront views, two excellent restaurants, nightly champagne sabering, and the city’s only Forbes 5-star spa.

    Other reservations

    Many restaurants on this list can book up well in advance for peak weekend times, so be sure to plan ahead to avoid having to wait for a walk-in spot. Some museums and other experiences can also sell out, so keep that in mind if there’s anything you definitely don’t want to miss.

    Friday Evening

    Happy Hour and Dinner

    Bar Tre Dita inside the St. Regis Chicago.
    Barry Brecheisen/Eater Chicago

    Check into your hotel and start relaxing with a drink and a snack without walking back out the door. That can mean rooftop drinks at Cerise or Pandan, ceviches and sake cocktails at Richard Sandoval’s new Nikkei spot Casa Chi, or a negroni and some fluffy focaccia brushed with rosemary and sea salt at Bar Tre Dita. After that, venture out for some dinner at one of celebrity chef Carlos Gaytán’s two downtown restaurants. Tzuco on the Gold Coast features a gorgeous covered patio and an open kitchen cooking up Mexican fare with French techniques, including whole red snapper and cochinita pibil. Ummo in River North offers fluffy housemade ricotta tortellini in lamb ragu, perfectly cooked New York strip, and creative desserts. Both serve excellent cocktails with or without spirits, so you can decide to keep the buzz going or slow down to make it easier to wake up early the next morning. Another option is Kyuramen, a Japanese chain that specializes in ramen and omurice — fluffy omelets beneath a bed for fried rice.

    Saturday

    Coffee and Pastries

    Start the day with a snack and a bit of caffeine to get you going. If you’re at the Viceroy, head downstairs to Somerset for La Colombe nitro coffee and fresh-baked kouign-amann or a croissant filled with gooey, warm chocolate and do some people-watching from the sidewalk. Otherwise head to one of several downtown locations of Paris Baguette, which offers traditional French pastries as well as Asian-inspired snacks like choux cream bread and mochi doughnuts. A new contender is Tary Bakery a coffee shop serving Kazakh cuisine and pastries.

    A Stroll Through the Park

    Once you’ve gotten a bit of energy, it’s time to visit Chicago’s backyard: Millennium Park. Go early to avoid the rush to take a picture of your many reflections in Cloud Gate aka The Bean and stop to smell the flowers in Lurie Garden. The park hosts free workout classes on the Great Lawn most Saturdays during the summer, so bring a mat and workout clothes for Pilates, yoga, or cardio kickboxing. You’ll be rewarded with loose muscles and a coupon for a free mimosa with an entree if you stop for brunch at Double Clutch Brewery. If you’re not up for that, take the extra time to stroll around Maggie Daley Park and then head to The Berghoff. A true Chicago institution, the Loop restaurant has been serving bratwurst, schnitzel, and Bavarian pretzels for more than 125 years, though they recently added a craft brewery where you can try beers inspired by the Art Institute of Chicago to prepare you for your next stop.

    Museum Visit

    Located right next to Millennium Park, the Art Institute of Chicago offers free guided tours of the galleries (with your discounted Chicago resident admission ticket) or you can wander on your own browsing masterpieces from Vincent van Gogh, Diego Rivera, Edward Hopper and Georgia O’Keeffe and sculptures from ancient Egypt and Mesopotamia. If art’s not your favorite subject, walk down to the Museum Campus to visit the Field Museum. It’s home to a massive collection of fossils, including the largest dinosaur ever discovered, plus regularly changing scientific exhibits. Both museums can take you all day to explore, so if you’re looking for a shorter outing, swing by the Shedd Aquarium to see sea life from the Great Lakes and around the world including sharks, sea horses, and otters.

    Take a Break Before Dinner

    A bright bar area and tables inside Kindling.

    Kindling recently added a patio.
    Chris Peters/Eater Chicago

    Give your feet a rest by heading back to your hotel for a nap or a soak – the St. Regis and InterContinental both have indoor pools. If the weather’s nice and you want to stay out, head to The Northman Beer & Cider Garden on the Chicago Riverwalk and order something refreshing to sip while watching the boats pass by and maybe petting some of the pups that frequent the spot.

    Do an early dinner to make time for some entertainment. Avec, which had a cameo in The Bear, serves Mediterranean-inspired small plates like chorizo-stuffed bacon-wrapped dates and hummus with a hearth-baked pita. Kindling within the Willis Tower offers live-fire dishes from James Beard Award-winning chef Jonathon Sawyer — you can come early for happy hour at the bar to snack on oysters and Nashville hot chicken tenders.

    See a Show or Make Your Own

    Browse Broadway in Chicago to see what’s playing in the Chicago Theatre District and catch a musical like Six or The Book of Mormon. The Goodman Theatre hosts a mix of big productions and more eclectic entertainment including long-form improv, spoken word, and magic shows. You can also watch movies from around the world at the Gene Siskel Film Center. If you’re looking for something more active (or to keep the fun going after the show) head to Brando’s Speakeasy for some raucous karaoke.

    Grab a Nightcap

    Have a drink back at your hotel or one of downtown’s many excellent cocktail bars. The Berkshire Room has an extensive menu organized by flavor, spirit, and glassware and you can just give your preference for all three to the bartender and have them whip up something special. Escape to the tropics at Three Dots and a Dash, a speakeasy hidden in an alley serving strong sippers in funky glassware. Arbella boasts Saturday DJ sets, an extensive old fashioned selection, and a drink menu packed with unusual ingredients including peanut butter and jalapeno-poblano pesto.

    Sunday

    Boozy or booze-free brunch

    A large, glamorous dining room with hanging plants and chandeliers.

    Alpana is a sanctuary for Gold Coast hustle and bustle.
    Barry Brecheisen/Eater Chicago

    Check out and stow your bags to spend the day doing some more eating and exploring. Start with a leisurely meal at Planta Queen, which offers bottomless brunch cocktails plus Asian-inspired vegan fare like scallion pancakes, bang bang broccoli, and sesame peanut noodles. Opt for a Vietnamese iced coffee or oat milk matcha if you had enough to drink the night before. Those who want to start the day with some real meat and eggs can head to Alpana for bottomless mimosas, crab cake benedict, and steak & eggs.

    Hit the water

    A Chicago River cruise is one of the city’s top tourist attractions for a reason — it’s a laidback way to enjoy the views and learn a little about Chicago and its dramatic skyline. The Chicago Architecture Foundation’s 90-minute cruise is packed with information, though the 45-minute cruise from Wendella is far from remedial. No matter how long you’ve lived here, chances are you’ll pick up something new. If you’ve already taken the tour with visiting friends and family, opt for a more active outing with Urban Kayaks. Depending on your skill level and how long you want to paddle you can take an intro lesson along the Chicago Riverwalk, get a two-hour history tour, or spend up to four hours exploring.

    Play with Your Food

    Chicago has plenty of interactive museums and exhibits, but the best of these is the Museum of Ice Cream because it offers as many frozen treats as you want. Board the bright pink version of the El, play mini golf, and try an ice cream version of a Chicago hot dog that’s not as gross as it sounds. You can also just head for the equally Instagram-famous BomboBar for gelato and Italian doughnuts.

    One Last Big Dinner

    A piece of nigiri on a sushi counter.

    Venture to West Loop for sushi at Tamu.
    Ashok Selvam/Eater Chicago

    The West Loop is jam-packed with top-tier restaurants for you to finish out your weekend even if you didn’t plan ahead far enough to book one of its acclaimed tasting menus. Chef Paul Virant’s Gaijin specializes in okonomiyaki, savory Japanese pancakes served sizzling on tabletop griddles, as well as kakigori cocktails. Tamu, the new spot from chef BK Park (Mako), offers reasonably priced omakase and walk-in seating for hand rolls and kaisendon. Stephanie Izard’s Girl & The Goat helped establish the neighborhood’s Restaurant Row, while Proxi offers a la carte dishes or a four-course menu spotlighting global street food from tamales to kabobs to Thai curry. Toast to a great trip with a drink at CH Distillery (makers of Jeppson’s Malört) and then head back to your hotel to pick up your bags and go home. You can always come back downtown for more.

    Chicago River, Chicago, IL 60601

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  • How to save on food and drinks at your next sports game or concert – MoneySense

    How to save on food and drinks at your next sports game or concert – MoneySense

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    With foot-long hotdogs roughly $13 and 515-ml premium draft beers nearing $15, the Sarnia, Ont., duo behind the @coupon.couple account started searching for ways to save.

    One of their pals had two words: Dugout Deals.

    The aptly-named concession stand by sections 240 and 537 sells ballpark favourites for a fraction of the price. Before tax, “value” hotdogs, popcorn and 16-ounce soft drinks go for $3.49 each, while a 12-oz. Bud Light is $5.79, the Blue Jays website says.

    “If you got a hotdog and just a pop, it would be, like, under $7,” said Debarros. “That’s awesome compared to $30 at some of the other stands.”

    Researching like Debarros did is just one of the ways she and other sports lovers, festival attendees and concert goers say Canadians can save as the summer event season ramps up and people start to be confronted with eye-popping prices.

    AtVenu, a point-of-sale technology company, said the average fan in Canada and the U.S. spent USD$68 on food and beverages at festivals last year, up from USD$65 in 2022. The firm found prices for food items jumped 21% on average, and drinks spiked by between 7% and 20%, depending on their format and alcohol content. 

    But many eventgoers say there are ways to reduce costs.

    Check if you can bring your own food and drink

    For starters, some venues, including the Rogers Centre, let you bring in food and drinks, though they often must be non-alcoholic and packaged in something other than glass or metal.

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    The Canadian Press

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  • 5 credit card habits that earn points faster – MoneySense

    5 credit card habits that earn points faster – MoneySense

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    1. Unlock the earning potential of your everyday spending

    Everyone has expenses. The trick is to figure out how to earn rewards on the purchases you’re already making. Your best bet is to pick a card that offers boosted earn rates in the categories you spend the most in. For many Canadians, the top spending categories are groceries and gas, so paying with a card like the National Bank World Elite Mastercard can reap a lot of points.

    Let’s say your family spends around $1,000 per month on groceries and about $250 on gas. If you paid for these purchases with the National Bank World Elite Mastercard, you could earn up to 5,500 points per month—that’s 66,000 points per year just in those two categories. With 66,000 points, you could redeem for tech merchandise (like a smartwatch or tablet) or pay down your National Bank of Canada mortgage, for example.

    Here’s how it works: The amount of points earned on grocery and restaurant purchases depends on the total gross monthly amount charged to the credit card account, regardless of the purchase category. You will earn five points for every dollar in eligible grocery and restaurant purchases until a total of $2,500 in gross monthly purchases is charged to the account. After that, you’ll earn two points per dollar in eligible grocery and restaurant purchases. (The total gross monthly amount is calculated based on your monthly billing period.)

    Apply for the National Bank World Elite Mastercard between May 13 and August 15, 2024, and you could earn up to 40,000 bonus rewards points in the first year. Minimum purchase and insurance product required. See applicable terms and conditions.

    sponsored

    National Bank World Elite Mastercard

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    • Annual fee: $150
    • Interest rates: 20.99% on purchases, 22.49% balance transfers and cash advances
    • Earn rate: Up to 5 points per $1 on grocery and restaurant purchases; 2 points per $1 on gas, EV charges, recurring bill payments and travel booked through À La Carte Rewards; and 1 point per $1 on all other purchases.
    • Welcome offer: In the first year, you can earn up to 40,000 rewards points. Must apply by August 15, 2024. Minimum purchase and insurance product required. Learn more about applicable terms and conditions.
    • Annual income requirement: Personal income of $80,000 or household income of $150,000

    go to site

    2. Make the most of your optional spending

    There’s more to bills than groceries and gas, of course, so choose a card that rewards more of your other purchases. When you use your National Bank World Elite Mastercard to pay your restaurant bill, you could earn up to five points per dollar. Plus, with a base rate of one point per dollar spent on your card in other categories, your rewards will rack up quickly.

    3. Subscribe to rewards points

    If you’re like most Canadians, you’ve got a bunch of bills that show up each and every month, including services like your phone plan and subscriptions to streaming services. Get something back for your monthly bills by setting up automatic payments with your National Bank World Elite Mastercard. You’ll get two points per dollar for recurring payments, and you’ll never have to worry about missing a payment.

    4. Get the family involved

    When you add a cardholder to your account, all their rewards points add up along with yours in the same account, so you reach your rewards goals faster. This can be a terrific option for spouses, for example. Each person will have their own card with their own PIN, but all transactions are charged to the same account. With the National Bank World Elite Mastercard, the annual fee for each additional card is only $50 per year. 

    5. Earn more on travel

    Using a credit card is a convenient and secure way to pay for travel—and it can also let you earn rewards points. With the National Bank World Elite Mastercard, you’ll get two points per dollar spent on any travel you book through the À la carte Travel portal. Plus, every year you’ll get a travel credit of up to $150 to reimburse eligible expenses charged to your card, including flight upgrades, seat selection, airport parking, extra checked bags and access to airport lounges. And, with the included travel insurance on this card, you’ll be all set for your next journey. (Insurance coverage is limited to specific amounts. Please read the full insurance details.)

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    Keph Senett

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  • Food inflation in Canada: Who Canadians blame for rising prices – MoneySense

    Food inflation in Canada: Who Canadians blame for rising prices – MoneySense

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    A new Leger survey found that almost 30% of Canadians believe food inflation has been primarily caused by grocery stores trying to increase profit margins. Another 26% think it’s mostly due to global economic factors, while one in five blame the federal government.

    Inflation on groceries was 1.4% in April and helped drive overall inflation lower to 2.7%, Statistics Canada said.

    However, even low inflation still means prices are going up. And over the past three years, grocery prices have risen 21.4%, according to the agency.

    The major grocers have said they did not unduly profit from inflation, amid political and public pressure over the rising cost of food and other necessities.

    More than half of Canadians support Loblaw boycott

    A group of consumers organized a boycott of Loblaw-owned stores in May over frustrations with higher prices and industry concentration.

    Seven out of 10 Canadians polled said they are aware of the ongoing boycott, and 58% said they support it, but only 18% say that they or someone in their household have joined the boycott.

    The poll highlights rural and urban residents’ differing views on the boycott, and suggests it’s more difficult for those living outside an urban area to participate in a boycott of Loblaw-owned grocery stores.

    Urban residents polled by Leger were more likely to say they support the boycott than suburban and rural residents, and were more likely to be participating in it as well.

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    The Canadian Press

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  • Why is gas so expensive in Canada? – MoneySense

    Why is gas so expensive in Canada? – MoneySense

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    How expensive is gas in Canada?

    According to CAA’s daily gas price tracker, Canadians paid an average of $1.68 per litre on May 2, 2024. That’s six cents more than the lowest average price in the previous 30 days, and 12.3 cents more than one year ago. 

    What national averages don’t show, though, are the unpredictable price spikes experienced in some locales. Case in point? On April 18, 2024, Toronto drivers woke up to find gas prices had climbed from $1.65 to $1.79 per litre overnight.

    That 14-cent-per-litre increase meant that Ford F-150 owners would spend up to $19 more filling their tanks, Dodge Durango drivers would pay an extra $13 and Toyota Highlander drivers would pay $9 more per fill-up. It would cost an extra $8 to fill a family car like the Hyundai Sonata or Chevrolet Malibu, and $7 for smaller cars like the Honda Civic. Use a fleet of heavy trucks for your business? That Silverado 2500 or Ram 2500 HD will cost you $20 to $35 more to fill.

    These are big jumps, but gas prices are still well below what they were at the height of the pandemic. In the summer of 2022, the national average price reached an eye-watering $2.11 per litre, says price-tracking website GasBuddy.com.

    According to the Canadian Fuels Association, Vancouver had Canada’s highest average gas prices in 2023, followed by St. John’s, Charlottetown, Montreal and Halifax. 

    If you’re frustrated by wildly fluctuating gas prices, you’re not alone. Below, I’ll give you easy fuel-saving tips that could trim your gas bills by 15% or more. But first, let’s take a look at what affects gas prices in Canada. 

    Compare personalized quotes from Canada’s top car insurance providers.All in under 5 minutes with ratehub.ca. Let’s get started.*You will be leaving MoneySense. Just close the tab to return.

    Why do gas prices go up and down?

    The price you pay for a litre of gas at the pumps includes many costs and taxes that vary between countries, provinces and even regions—but that’s only part of the story. To understand what affects gas prices, it helps to understand how crude oil is processed, and why it’s in such high demand.

    Understanding crude oil

    Crude oil is a highly valuable substance, found deep underground. It’s made of ancient dead stuff—animals and plants that lived millions of years ago. The value of crude oil lies in its ingredients, which we use to make things like plastic, synthetic rubber, detergents, heating oil, jet fuel, engine oil, asphalt and, of course, the gasoline powering our cars.

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    Justin Pritchard

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  • Why are fertility treatments so expensive in Canada? – MoneySense

    Why are fertility treatments so expensive in Canada? – MoneySense

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    Ribecco’s journey, however, shows the enormous potential expense of just conceiving a child—let alone the cost of raising one. National Bank, citing Statistics Canada data, pegged the cost of raising a child to their late teens at up to $300,000.

    Ribecco still considers herself lucky. She has two beautiful sons, and a great job that allowed her to attend countless appointments without being docked pay or using her vacation time. 

    “People with hourly rate jobs would lose wages or a whole day’s work to make appointments,” she pointed out.

    The costs of fertility treatments can vary for couples

    LGBTQ+ couples, she added, can pay even more. Female couples need to pay for a sperm donor, and male couples need to pay for egg donation, IVF and surrogacy expenses. Egg or embryo donations can also add up if the woman has egg quality issues.

    As with any foreseeable life expense, would-be parents should start a budget and savings plan as soon as they are able, said Ravy Pung, a Quebec-based financial planner with National Bank.

    “It’s difficult to figure out what the total costs of [fertility treatments] will be, because it really depends on everyone’s personal situation,” she said, highlighting unexpected costs such as extra testing or failed IVF procedures, and extra expenses around surrogacy.

    Pung recommended investing within a tax-free savings account (TFSA), so investment returns are tax-sheltered. 

    There should always be a back-up plan, she added, just in case “there’s not enough liquidity, not enough savings. You should plan on how to obtain a personal line of credit or a mortgage line of credit.”

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    The Canadian Press

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