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Canada's Economy Is Slowing: 5 Money Moves to Make Before Year-End

  Canadian Money Brief | October 22, 2026 Canada's economic outlook has weakened, and that is a good reason to take a fresh look at your finances before the end of the year. The Parliamentary Budget Officer's October outlook projects real GDP growth of just 0.9% in 2026, down from its earlier forecast of 1.1%. The report points to changing trade conditions and U.S. tariffs as key pressures. This does not mean a recession is guaranteed. But when the economy faces uncertainty, a few practical steps can help households stay prepared and avoid unnecessary costs. 1. Review your monthly budget Check your last two or three months of bank and credit-card statements. Look for subscriptions you no longer use, recurring fees, food waste, and purchases that can be delayed. Even small cuts can free up cash for savings or debt repayment. Try this: Choose one spending category to reduce this month and move the money you save into a separate savings account. 2. Build or top up your emergency ...
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Mind Over Money: How Financial Wellness Fuels Mental Health

 

In today’s fast-paced world, money is more than just a means to pay bills—it’s a major factor influencing our mental and emotional well-being. Financial wellness, the state of being in control of your money and feeling secure about your financial future, is deeply intertwined with mental health.

When finances are stable, stress levels tend to drop. People sleep better, make healthier lifestyle choices, and feel more confident about the future. On the other hand, financial strain can trigger anxiety, depression, and even physical health issues. The constant worry about debt, unexpected expenses, or insufficient savings can create a cycle of stress that’s hard to break.

Building financial wellness doesn’t require sudden wealth—it’s about consistent, mindful habits. Creating a budget, setting realistic goals, building an emergency fund, and seeking professional advice when needed can all help reduce financial stress. Just as importantly, practicing self-care and seeking mental health support ensures that money challenges don’t overwhelm your emotional resilience.

Ultimately, financial wellness and mental health are two sides of the same coin. By nurturing both, you create a foundation for a balanced, fulfilling life—where your mind is at peace and your money works for you, not against you.


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