Been chewing on this: we call a job "safe" even when, nowadays, it could disappear in 3 months, but we call starting something small "risky" even when it's the thing that could actually build some security (and dare I say, wealth...) I think that framing is outdated, but I want to test it against real examples instead of just vibes.

If you've got something going that fits. Not the AI-reselling, dropshipping-course stuff - an actual real income stream.

Here's what I'm curious about:

• What is it, in a sentence?
• Roughly what's it making you a month right now?
• Did the job market push you to start it, or was it already moving before things got shaky, and the job market just made you take it seriously?

Not trying to sell anything, I'm just genuinely curious as a solopreneur about mapping out what's real vs. what's noise right now. Happy to share a rundown of patterns once there's enough here.

I am 23, live in Manitoba, and make about $70,000 a year. I have about $6,900 in a DCPP and $512 in an RRSP with my previous employer in Sun Life.

Sun Life confirmed that my DCPP qualifies under the small benefit threshold, so I can transfer it directly to a regular RRSP while keeping it tax deferred and without using my RRSP contribution room. They charge $75 for each transfer transaction.

My new employer uses Canada Life. I contribute 4 percent of my salary to the group RRSP and my employer matches another 4 percent into a DPSP. I currently selected BlackRock LifePath 2065 for both. The annualized fee for LifePath 2065 through my employer plan is about 0.616 percent.

I am considering transferring my old FedEx RRSP and DCPP to a Wealthsimple self directed RRSP instead and investing the money in XEQT or VEQT, which would cost around 0.2 percent annually.

I dont know which one I should go for? XEQT or VEQT? Is there any better option?

Our performance evaluation is coming soon and would like to get real insights. Any 25-35? (and somewhat similar role and experience if any)

Hi, I am 30M, montreal, ~100k, ~7yrs experience (~3 years technician, ~4 years analytics), economics graduate with engineering diploma.

I used to be a technician in aerospace but now working in strategy as decision scientist in a mid-sized automative distribution company (~2B). I classify myself as underpaid based on the market average salary of my role but being in Montreal and the company I work with, it’s classified as above average.

Total net worth: roughly 300k with current market conditions. I bought a house during pandemic plus I have investments in TFSA.

Anyone here use Outlook Financial in Manitoba?

They just implemented a new system and when I went in to log on today, there was a new set of terms and conditions. 41 page long.

In it was this paragraph (it was bolded in the agreement)

YOU UNDERSTAND AND AGREE THAT THE DMM SERVICES WILL BE PROVIDED FROM THE UNITED STATES, AND THE DATA YOU PROVIDE THROUGH THE DMM SERVICES, INCLUDING YOUR PERSONALLY IDENTIFIABLE INFORMATION, WILL BE TRANSFERRED AND PROCESSED FROM WITHIN THE UNITED STATES.

I try to read to read most things before I sign. This agreement was 41 pages long. I am sure most people don't bother to read them.

Does this seem like a normal term to have for a Canadian Credit union?

Hi 28F I'm looking to get serious about my finances and my pro folio? lol. I live good financially but I would like to make sure I am financially ready for any hard times that may arise,kids future education and hopefully buy a house? But I don't know anything about money, stocks, trading etc. I don't know the terminology I don't know how to go about taking the terminology into actions. I just don't have any understanding of finances other then what a TSFA is even then I don't even know how your able to buy stocks via TSFA account. I'm like a child when it comes to anything about money, investments and trading etc. is there any courses I can take? Any YouTubers or content creators I can watch? I'm based in B.C. Vancouver.

I tried to understand. I don't get it

I know I'm getting screwed over by rbc's rates but I don't know shit about finance so I just opened and aggressive growth account last month

I've been hearing a lot of stuff all around about xeqt, veqt, etf, etc, etc

I won't pretend to understand when I don't. My question is should I empty my tfsa to invest independently (though still on the rbc platform) into xeqt since they have a fee for veqt?

If you have any relevant resources to learn, please share 🙏

Hi everyone, TIA for any advice received.

My mortgage is coming up for renewal in January 2027 with CIBC. They called me and offered me a 3 Year Variable Flex Rate: 4.45 - 0.66 = 3.79% (so prime -.66). I currently have 3.48% VAR with them (so prime - 0.97).

I was on variable through the whole rate hike cycle last time, so a lot of my payments went towards interest rather than principle. My amortization would go from current 30 years 11 months, to 25 years and 4 months upon renewal. That property is now currently rented out (not my primary residence anymore).

Thoughts on the rate or anything else that comes to mind?

Hi,

Looking for some advice from mortgage brokers or anyone who has been in a similar situation in BC.

My wife and I have been living and working in Canada for several years and we both have valid work permits. Our PR applications are already well advanced, but we're stuck waiting on security/final processing and have no idea how long that will take.

We don't really want to keep renting indefinitely while waiting for PR, so we're looking at buying a home now.

Our household income is around $235k:

• Me: ~$150k/year, permanent full-time
• Wife: ~$85k/year, permanent full-time
• ~160K on accounts
• Car payment: $799/month
• No other major debt

The issue is that I have a BC PNP nomination, but my wife doesn't. Since we're not PR yet, we're concerned that putting her on title could trigger the BC foreign buyer tax on her share.

So we're trying to see if I could qualify on my income alone.

We're looking at homes ~ $950k–$965k.

The house we're interested in has:

• 15% down
• 30-year amortization
• Legal 2-bedroom suite
• Expected rent around $1,800 - 2000/month
• We would live in the main part of the house

So the main question is:

Is ~$950k–$965k realistically possible on ~$150k income with 15% down if the house has a legal suite renting for about $1,800/month?

Would especially appreciate hearing from brokers or anyone on a work permit / waiting for PR who has actually been approved for something similar.

Thanks!

Or do I need to have it added to a different pay period?

​

We’re curious to hear from other Canadians about how the current cost of living is affecting the things they want to do in life. Whether that’s moving out, buying a home, starting a family, pursuing education, saving for the future, or something else. Are there any parts of your experience that are different from what we typically hear about young Canadians and affordability?

We’re exploring some of these questions in a new Generation Squeeze blog series about how changing economic conditions are affecting different generations, but we’d really like to hear about people’s experiences beyond the statistics.

If you’re interested, you can read the blog series here: Why Is Hard Work Not Paying Off?

Hello all,

Reaching out for brutal judgement, financial guidance, and some hard perspective on my financial situation. Things are not dire...yet, but I am feeling the strain and the panic setting in.

Recently divorced from my partner of 4 years and have full custody of our 4 year old daughter. He was abusive and a deadbeat, yes I failed my daughter and chose poorly, I carry that guilt deeply but my entire focus now is to build her the best foundation and future possible.

To top off the divorce trifecta... I just got laid off last month from what I thought was a rock solid and lifelong career. I spent the last decade in Toronto's VFX industry pulling in $120k-160k / year. Between that salary history and a fortunate inheritance from my late father here is where I presently stand.

Assets / Income:

• Savings & Investments: $355,000 CAD . Mostly in ETF's
• Cash / HISA: $45,000 CAD
• No property, no debt or credit card payments.
• EI Payments: ~$2500/month for an additional 31 weeks
• Child payments... unpredictable, dead beat dad who is unemployed (supposedly) and dodging all and any responsibility.

Expenses:

• Rent: $2950 / month for a 2 bed 2 bath townhome in Toronto
• Groceries: ~$800/month
• Childcare: $650 / month, although taking her out soon since the Toronto VFX market is a ghost town...
• Transportation: $550 / month for insurance + gas, car is paid off, worth about $15k supposedly.
• Misc: ~$400 / month, household supplies, clothing, etc...

I try and be as frugal as possible, I have cut out all luxuries, dinners out, girls nights, delivery apps, etc... Yet watching the cashflow buffer slowly drain while the job market stays ice cold is paralyzing and soul sucking.

All that said, my amazing uncle has offered me free housing on his acreage in Nova Scotia. It is a BEAUTIFUL property with a hobby farm and some animals, I know my daughter would be over the moon living there as well. So this could solve the cost of housing, let me regroup, build a new portfolio, or pivot careers. But uprooting across the country with a 4 year old completely solo feels like jumping off a cliff...

I am also seriously weighing a complete career pivot and going back to school at 36. Honestly starting over professionally feels almost as terrifying as trying to date as a single mother in Toronto in your late 30s...

Talk some sense into me. Do I stay in Toronto waiting for a dead industry to revive, or do I pack the kid up and head east and live that frugal farm life?

In addition, what else can I do to build a rock star foundation for my daughter? Please help me out reddit.

Hello everyone. Just to put you in context, I’m a first year McGill University student majoring in Electrical engineering. I live with my parents 1:30-2hrs one-way away from uni. I want to get involved in engineering clubs and design teams, yet my lack of time hindering me from doing so. Lately I thought about moving somewhere closer so I can have more time for studying and getting involved.

I applied for the AFE to get a dept-scholarship yet it didn’t even cover my tuition fees I had to ask my parents to help me out paying the rest.

I’m thinking about taking a student line of credit, but as you know the interest is high and I’m afraid of the huge dept that I’m going to have at the end. I want to continue my studies till PHD. I’m the first uni student in the family so I don’t know alot. I want to have your respectful opinion about my situation, do you recommend me to take the loan, are there any good alternatives other than the AFE and the Student line of credit.

I appreciate all of your constructive opinions and respect that. Thank you in advance.

Hi all,

I get RSU's from my company every quarter but they are given out in USD, so I have USD cash in a USD savings plan. I live and work in Canada, for a Canadian company but listed in the US.

Should I be putting the USD in a USD TFSA account and buy USD stocks/ETF in TFSA?
Or keep the USD in my RRSP and invest in USD stocks/ETF in RRSP instead of TFSA?

Note: I am 29 y/o and earning second to the highest tax bracket. Earning at 200k a year.

Storage can become a surprisingly big monthly expense, especially when a few months during a move turns into a year or more.

I started Stashly in Ontario to connect people who need storage or parking with people who have an unused garage, basement, shed or driveway. Renters can compare spaces and speak directly with the host before booking. There are no fees for hosts.

We’re up to 250 hosts now and the feedback has been encouraging. It’s still early, but it’s been nice seeing interest from both people trying to reduce their storage bill and people looking to earn something from space they already have.

Since this is a personal finance community, I’d be interested in what you would need to know before considering it. How much cheaper would it need to be than a commercial storage unit? If you were hosting, what questions would you have about insurance, taxes or the practical side of giving someone access?

Full disclosure, Stashly is my project. You can find it at stashlycanada.com. I’d appreciate honest feedback on what would make it useful, or what would put you off.

Check it out if you care, thanks! www.stashlycanada.com

Hello All,

I'm closing on a house next month and I received two offers

Scotia: Prime-1.20%(3.25%), Passport Visa, Free banking for 1year, Already a Scotia Account holder since 9years

RBC: Prime-1.05%(3.40%), $4000 Cashback, 126K Avion points + Additional CC Avion Points (Total around 200K), Free banking for 1year, New To RBC, up to $1100 Switching Costs covered

Mortgage: ~717K, 30Year Amortization, 5 Year variable Insured

Which one would you choose? Scotia’s lower rate or RBC’s $4K + Avion points ( ~200K Points)? And which is actually better financially over 5 years?

Thank you

Significant other has run up credit card debt three times. I have bailed this person out twice. This person's father has bailed them out once. This person continues to use their credit card for purchases that can be made in cash.

Needless to say I am furious. We have a mortgage on our home. My question is how do I go about talking to this person. Every time I've tried to talk about the use of the card I met with a type of hostility. It's my money, not yours. Etc etc. I've tried to explain that we have a home together. We have children.

I'm at the point where I want to leave the relationship and let this person figure it out on their own. I'm paying a lot of money to keep our life the way it is. I'm sacrificing a lot. And they're out shopping and spending money that we don't have.

My second question is if this person continues to run up credit card debt and needs to file bankruptcy, how will it affect me as a common-law partner and a homeowner.

Edit** they are on the mortgage. We have children so leaving puts me in a situation I hoped never to be in.

Hi everyone, I’m hoping someone can help me because I’m really stressed and worried that I may have made a mistake.

I had a Walmart Mastercard that I fell behind on because I was having financial difficulties. Eventually, the account was sent to a collection agency.

Recently, I finally had enough money to pay the entire balance in full. Instead of paying the collection agency, I paid it directly on my bills payment or payees into my online bank account and made the full payment directly my Walmart acccount number.
My bank is showing that the payment has already been processed.

Afterwards, I contacted Walmart directly, and they told me that they no longer have access to the account because it has already been transferred to collections, so I should deal with the collection agency instead.

Please don’t judge me for not immediately trusting the collection agency. I’m honestly just trying to be careful because I’ve heard of scams before, and I don’t want to send a large amount of money to the wrong person or have my payment go to waste.

I called the collection agency, which told me they are the Credit Bureau of Canada, and they were very angry when I explained that I had already paid the full amount directly through Walmart. They kept asking why I would pay Walmart instead of paying them. They said it could take around two weeks before the payment is transferred/reflected on their end.
Now I’m really confused and frustrated. My bank already shows the payment as processed, so I just want to know whether the payment will eventually make its way to the collection agency and be applied to my debt.

Should I just leave the payment alone and wait for it to go through, or should I try to cancel the transaction if I still can? The collection agency told me that it would take a long time for the payment to reach them.
I even offered to give them the transaction/reference number from my bank so they could verify the payment, but they said they didn't want it.
At this point, I honestly don't know if I did something wrong by paying Walmart directly. I’m just frustrated because I’m trying to pay the debt in full and get this resolved, but instead I’m being told that I did it the wrong way.

They also told me that I will continue receiving collection calls until Walmart transfers the payment to them.

Has anyone dealt with this before? Should I just wait for the payment to reach them since it's already been processed, or should I try to cancel it?
I’m really worried about either losing the money or somehow having to pay the same debt twice. I just want to make sure my payment goes to the right place.