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Two-Thirds of RDSP Money Goes Unclaimed: How Ottawa's $70,000 Disability Benefit Actually Works

  Published August 19, 2026 Of the 311,000 active Registered Disability Savings Plans opened since the program launched in 2008, Canadians have contributed $3.3 billion — and Ottawa has matched that with $5.1 billion in grants and $2.1 billion in bonds, according to figures reported by BNN Bloomberg on Wednesday. That sounds like a program working as intended. It isn't. The same report cites the latest Statistics Canada tally showing that two-thirds of the government money set aside for the RDSP goes unclaimed every year, largely because eligible Canadians don't know the plan exists. If you or someone in your family is approved for the Disability Tax Credit, this is one of the highest-value accounts the federal government offers — richer, dollar for dollar, than the RRSP, the TFSA, or the RESP. Here's how the math actually works, and what it takes to claim your share. Who qualifies Anyone approved for the Disability Tax Credit (DTC) — via CRA Form T2201, certified by a medi...
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Practical Ways to Save Money



Saving money can be challenging, especially in times of economic uncertainty. However, there are some practical ways to reduce your expenses and increase your savings without sacrificing your quality of life. Here are some tips to help you save money:

- Track your spending. The first step to saving money is to know where your money is going. You can use a budgeting app, a spreadsheet, or a simple notebook to record your income and expenses. This will help you identify areas where you can cut costs and allocate more money to your savings goals.

- Set realistic goals. Saving money is easier when you have a clear purpose and a timeline. Whether you want to save for a vacation, an emergency fund, or a retirement plan, you should set a specific amount and a deadline for your goal. This will help you stay motivated and focused on your progress.

- Automate your savings. One of the best ways to save money is to make it automatic. You can set up a direct deposit from your paycheck to your savings account, or use an app that rounds up your purchases and transfers the difference to your savings. This way, you won't have to think about saving money every month, and you'll be less tempted to spend it.

- Cut unnecessary expenses. There are probably some expenses that you can eliminate or reduce without affecting your lifestyle. For example, you can cancel subscriptions that you don't use, switch to a cheaper phone plan, or cook more meals at home instead of eating out. These small changes can add up to big savings over time.

- Shop smart. When you do need to buy something, make sure you get the best deal possible. You can use coupons, discounts, cashback apps, or comparison websites to find the lowest prices on the items you need. You can also buy secondhand, borrow, or swap items with friends or family instead of buying new ones.

- Save energy. Another way to save money is to lower your utility bills by using less energy. You can do this by turning off lights and appliances when not in use, adjusting your thermostat, using energy-efficient bulbs and appliances, or installing solar panels. You can also save water by taking shorter showers, fixing leaks, or using low-flow faucets and showerheads.  

These are just some of the practical ways to save money in 2023. By applying these tips consistently, you can make a significant difference in your finances and achieve your savings goals faster.




































































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