Car insurance premiums in Canada have climbed 36.4% over the decade to 2024, according to Statistics Canada data analysed by InsuranceXpert. For someone in Ontario paying the provincial average, that’s roughly £550 more per year than a decade ago — money that comes straight out of a household budget already feeling the pinch from higher costs everywhere else. The jump
More than 17% of Canadian living arrangements now involve “doubling up” — people taking in roommates, multiple families sharing a home, or extended family living together. That share has climbed fast: roommate households grew 54% between 2001 and 2021, making them the fastest-growing household type in the country. In cities like Toronto and Vancouver, where more households rent than own
Canadian households held more than $2.07 trillion in currency and deposits at the end of 2025, according to federal data. That cash, sitting in accounts many banks pay 0% on, lost buying power at 3.2% in May 2026 alone. For someone with $10,000 in a chequing account, that’s $320 of purchasing power gone in a year — and you earned
Miss a Canadian credit card payment by one day and you are looking at roughly $108 in fees and interest on a $4,000 balance in the first month alone — before any credit score damage even begins. That single day triggers a late fee, cancels your interest-free grace period, and starts the clock on a cascade that, if left unchecked,
The average Canadian credit score is 679 according to Borrowell’s 2026 data, but FICO reports the average FICO Score in Canada sits at 760. That 81-point gap between two different scoring models is the first thing most people get wrong about their credit — and neither number alone tells you how lenders actually see you. In cash terms, the gap
BRITWEALTH ARTICLE — FINANCE CATEGORY –> Nine out of ten Canadian parents talk to their kids about money on a regular basis. Yet only one in ten strongly believes their children are actually ready to handle financial independence when the time comes. That gap between conversation and capability is the real story here — and it’s costing young Canadians the
More than 3.2 million Canadians used buy now, pay later services in 2025, and Payments Canada data shows that 38% of them missed at least one payment. That works out to roughly 1.2 million people who ended up paying late fees, deferred interest, or both — on top of the purchase price they thought they were covering. For someone spending
Eighty-nine percent of Canadian adults own at least one credit card, which means roughly one in ten don’t. Among that shrinking minority, Millennials are overrepresented — and the reasons run deeper than a simple preference for debit. With a median post-tax income around $44,000 and a median debt load of $35,400, many in this age group are questioning whether the
Picture this: two households with the same total income, but one pays over $13,000 more in tax each year. That difference comes down to whose name the income lands in. Under Canada’s progressive tax system, shifting income from a higher-earning partner to a lower-earning one can save thousands—but only if you use the legal channels. The awkward part? Most people
Canadians paid an average of $180 per year in monthly chequing account fees alone before the federal non-sufficient funds (NSF) cap dropped from $45–$50 to just $10 per occurrence — but many households still bleed hundreds more through overdraft charges, ATM surcharges, and Interac e-Transfer fees they never see coming. A Money.ca survey of 5,275 subscribers found that 53% of
Canadians now rely on their tax refund to cover basic living expenses rather than saving or investing it. For someone earning a median salary, that refund—typically between C$1,500 and C$2,500—is often spoken for before it arrives. The data suggests this isn’t a choice; it’s a necessity. Disclosure: Some links on this page are affiliate links. If you make a purchase
When two Canadian banks merge, the headlines focus on deal value and market share. What matters to you is simpler: can you still access your money, and is it still protected? In 2025 and 2026, major Canadian mergers are reshaping the banking landscape. The National Bank of Canada–Laurentian Bank deal is worth roughly $1.9 billion, and the EQ Bank–President’s Choice
