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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...
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Southern Europe Braces for Prolonged Heat Wave Amid Wildfire Concerns

 


Greek authorities have issued a warning about an impending weeklong heat wave during the summer tourist season. Much of southern Europe is sweltering under high temperatures, with a high risk of dangerous wildfires. The heat wave, expected to last at least a week, comes after June 2024 was declared the hottest June on record in Greece. Southwesterly winds from Africa are driving temperatures to sometimes exceed 40 degrees Celsius (104 Fahrenheit) until July 19.

In neighboring North Macedonia, authorities have also taken action. They’ve issued a weeklong heat alert starting Friday in the small, landlocked Balkan country. People are urged to stay indoors when possible and avoid heavy labor during the hottest hours of the day. Emergency measures include keeping pregnant women and people over 60 off work, banning construction from 11 a.m. to 5 p.m., and moving kindergarten classes indoors after 11 a.m. Health officials have reported an increase in heat-related health problems, and wildfires have surged, with 14 registered nationwide in the past 24 hours.

Greece, too, faces a very high risk of wildfires, and this summer has been described as the most dangerous in the past 20 years. Unusually dry winter and spring conditions have left vegetation and forests tinder-dry. Greek firefighters, aided by drones and a strengthened fleet of water-bombing aircraft, have battled over 2,000 wildfires since June. While most were contained quickly, the threat remains. Let’s hope for cooler days ahead and vigilance in fire prevention efforts. 


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