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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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Aurora Alert: Northern Lights to Dazzle Canadian Skies This Week


A spectacular display of the northern lights, also known as the aurora borealis, is expected to light up the night skies across Canada this week. The National Oceanic and Atmospheric Administration (NOAA) has issued a geomagnetic storm watch, predicting that the northern lights will be visible as far south as Oregon and the U.S. Midwest, putting Canada right in the path for a breathtaking light show.

The solar storm responsible for this phenomenon is expected to peak on Tuesday night, with strong G3 solar storms forecasted for Tuesday and moderate G2 storms on Wednesday and Thursday. This means that Canadians from coast to coast may have the opportunity to witness the night sky erupt in vibrant colors.

For the best viewing experience, it’s recommended to get away from city lights and look to the north. The ideal time to see the aurora is within an hour or two of midnight, or between 10 p.m. and 2 a.m. local time. Clear skies and minimal moonlight will enhance the visibility of this natural wonder.

So, if you’re in Canada this week, don’t forget to look up and enjoy the celestial spectacle!






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