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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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Tensions Rise as Trump Warns Medvedev Amid US-Russia War of Words

 

                                                     Vladimir Putin pictured with former president Dmitry Medvedev, who is currently deputy                                                             chairman of the Security Council

The diplomatic rift between the United States and Russia deepened this week as former U.S. President Donald Trump issued a sharp rebuke to Russian official Dmitry Medvedev, telling him to “watch your words.” The comment came in response to Medvedev’s recent statements criticizing U.S. foreign policy and warning of consequences if Washington continues its stance on global security issues.

Trump’s remark, delivered via social media, reignited a flurry of exchanges between the two nations, with Russian officials accusing the U.S. of “provocative rhetoric” and “imperial arrogance.” Medvedev, the former Russian president and current deputy chairman of the Security Council, has been increasingly vocal in recent months, often using inflammatory language to describe Western policies.

The escalation underscores the fragile state of U.S.-Russia relations, which have been strained by ongoing conflicts, sanctions, and accusations of election interference. Analysts warn that the war of words could further complicate diplomatic efforts and fuel geopolitical instability.

While Trump no longer holds office, his influence on international discourse remains potent, and his comments continue to shape the tone of U.S. engagement abroad. The latest exchange suggests that tensions between Washington and Moscow are unlikely to cool anytime soon.


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