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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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Market Watch: Investors Brace for Nvidia's Earnings Amid Market Slump

The stock market saw a slight downturn on Wednesday as investors eagerly awaited Nvidia's earnings report, a key indicator for the tech sector. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all slipped by more than 0.1%, reflecting cautious sentiment ahead of the chipmaker’s highly anticipated results.

Nvidia’s earnings report is expected to provide crucial insights into the demand for AI-related technology, which has been a driving force behind recent market optimism. Analysts predict that if Nvidia surpasses expectations and delivers a strong outlook, it could trigger a broader rally across major indices.

Meanwhile, retail stocks showed mixed performance, with Abercrombie & Fitch surging over 24% following a positive quarterly report, while Macy’s posted modest gains despite revising its 2025 outlook due to tariff uncertainties. Investors are also keeping an eye on the Federal Reserve’s meeting minutes, set to be released later in the day, for further economic insights.

With Nvidia’s earnings looming large, Wall Street remains on edge, hoping for a positive signal that could reinvigorate market momentum.

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