Skip to main content

Featured

What to Do with Your Tax Refund: 5 Smart Moves for Canadians

  Tax Season · Personal Finance By MoneySavings.ca Editorial Team • May 7, 2026 • 7 min read Tax season is wrapping up across Canada, and for millions of Canadians, that means a refund cheque — or a direct deposit — is on its way. The average Canadian tax refund hovers around $1,800. That's real money. The question is: what's the smartest thing you can do with it? It's tempting to treat a tax refund like "found money" and splurge. But here's the truth — that refund was your money all along. The government was just holding it for you, interest-free. So before it quietly disappears into day-to-day spending, let's look at five moves that will make it work harder for you. $1,800 The average Canadian tax refund — enough to make a meaningful dent in debt, pad an emergency fund, or kick-start your TFSA for the year. 1 Pay Down High-Interest Debt First If you're carrying a balance on a credit card, this should be your very first call. Most Canadian credit car...
Post a Comment
Read more

article

Labels

Surviving the Heat Wave: How Canadians Can Stay Cool and Prepared

                

As temperatures soar and humidity levels rise, southern Ontario and Quebec are bracing for dangerously hot conditions. But what impact does this heat wave have on our electricity systems?

The Strain on Electricity Systems

Heat waves pose a “two-angled attack” on the electricity grid. Here’s how:

  1. Increased Demand: As people crank up their air conditioning to beat the heat, the demand for electricity surges. This puts strain on the system, especially transformers and other components.

  2. Temperature Stress: The extra heat generated by infrastructure exacerbates the situation. Transformers, in particular, can only handle so much heat, potentially leading to power failures or outages.

What Authorities Say

  • Ontario’s Independent Electricity System Operator (IESO): The province’s electricity system is prepared for increased demand due to high temperatures. They closely monitor conditions to ensure a stable and reliable supply.

  • Hydro-Québec: Quebec’s power provider has contingency plans for different weather conditions. While heat waves don’t significantly impact their equipment, they sometimes report planned service interruptions to ensure clients have access to air conditioning.

Preparation Tips for Canadians

  1. Conserve Energy: Use air conditioning wisely and consider using fans or natural ventilation when possible.

  2. Check Emergency Kits: Ensure you have flashlights, batteries, and other essentials in case of power outages.

  3. Stay Informed: Monitor local news and official advisories for updates on the heat wave and potential power disruptions.

Remember, while Canada’s grid systems are typically resilient, extreme heat waves can still pose risks. Let’s stay prepared and look out for one another during this scorching summer.


Labels:

Comments

Post a Comment