These are the consequences of Canadian banks offshoring their support services, particularly to a single country in Asia.

ISO advice. My husband and I both have pensions with our jobs. I am currently on maternity leave with my third child and bringing in 2400$ a month total on EI (maximum EI possible)+ 300$ in baby bonus for 3 kids.

I have 6 months left of maternity leave and my 8 weeks top up + savings have run out and we now are not bringing in enough to pay the mortgage and bills + visa spending each month— we are short 2500$. For context, when I’m working, we have no problem paying everything including visa each month and have no debt besides our mortgage.

We have an RRSP in my husband’s name that I bought years ago that is worth $25000. We are thinking we should cash it in so we can make it until the end of my leave and not go into any debt. Does this seem like a good idea ? Would it be a good year to do it since my income will be so low this year for taxes ? Does that even matter?

The other option is to use money from our line of credit (tied to our house) but I’m not fond of this because we really want to be able to sell in a few years and upgrade to a larger home.

What do you suggest?

My wife is retiring Jun 2027 from the teaching profession in Alberta. After 24 years in it, she cant stand the profession and what its become.

With this, she has been teaching for 30 years combined. Some years in SK, some years at a private kindergarten in AB, and for the last 19, in a rural school division

Her SK years she took out of her pension and moved to AB into our own investments. The 4 years at the private school she could of paid the $100 a month at the time for those years to be counted, but at the time with 3 kids and just life, we couldnt spare it. Hind sight is 20/20 however, because if we did, she would have 23 years in, instead of 19. But thats how life is.

This isn't a whim, she has known the last few years, but due to her age and our mortgage, she stuck it out.

She will be 57 when she does, I'll be 54. and I plan on working until I am 62 for full pension, or beyond depending on many things. I make a decent wage now, but she was the bread winner all these years (Yes my wife made more money then me) It never bothered us, and been married for 29 years.

Anyway, we will be going into this debt free, we have 2 vehicles (2012 & 2017) that have been paid off for years, no CC debt at all, and the mortgage will be paid off Apr 2027.

Anyway, she keeps saying how broke we will be. Being a teacher her pay was about 6K a month but not take home of course. We have a budget and never buy things or go places unless we have the money.

But her be GROSS will be about $2000 a month, and with taxes, around $1500 I assume. She won't be getting anything govt related for 3 years and won't be dipping into her own retirement savings until later in life. Roughly her pay will go down 75%.

Both of our pensions are Designated pensions with index of inflation with them (which we know isnt what inflation is these days, but whatever) I have also been setting aside money since Ive been 18 and she has been saving alot over the years. So we have about 550K in our own savings.

I show her the math, that $2800 will be freed up due to being mortgage free (that's the payment with the extra payment between the 2 of us) Other expenses will go down, her car insurance, fuel, and other misc. things. I assume some sacrifices will need to be made and my role for paying more things will take over.

It doesn't help EVERYTIME her father comes over (he is 82) and says how broke he is, how he "doesn't have a pot to piss in or a window to throw it out of" with any conversation. Which I think is leeching into her brain and stuck.

I know she can and will sub, and each day is $300 and no stress like teaching. So even 3-4 days a month is an extra $1000

So to wind this up, what can I show her that we will be fine?

Or am I wrong and she shouldnt? I cant see the way she is anymore with work, the stress of it all

Was there a gap when you transitioned from maternity benefits to extended paretnal benefits? I chose the 18 month benefit and just finished the first few months so now am just trnasitioning to a deceeased payment. The thing is, i havent received anything since Sept 22. I do see that there was a payment processed for 416 dollars yesterday, and 2 others for the same amount (which i havent also received).

Here is my situation. I want to do some renovations. The total cost of renos I am estimating at $30K. My current mortgage term is up for renewal this coming February. Is it best for me to take out some equity on my house and get the money that way? I am not sure about all the options and what would be best.

Thanks in advance for any advice!

For example, the top bracket shows 13.16% but because of the surtax, it actually ends up being around 20%. Why can't they just be transparent about this? Do any other provinces have this surtax?

Can you believe that sum of following small numbers is $1000+!!

Yes and I calculated multiple times,
So… PLEASE do Budgeting before you purchase🤦

$29.9 $49.9 $9.9
$19.8 $59 $79.9
$9.9 $69 $128
$168 $16.8 $39.9
$35.8 $99.8 $189

I have about 60k spread across my manulife rrsp and rpp accounts since I left the company a year ago. Invested in the following:

2750 ML Ret Date Indx Plus 2050 6f

2060 ML Retirement Date 2060 e1

Should I transfer this out to avoid fees or is it worth keeping this money parked in these accounts?

I work for an employer with a defined benefits plan now and plan on staying. Just wondering what the best strategy is with this account.

I'm starting my investment journey and will be relocating to the US in 1.5-3 years, depending on the length of the process. I will need to take this money out and I'd like to grow it in the meantime. What would you invest in? (What types of ETFs, bonds, GICs, index funds?)

Would investing in equity ETFs (VOO, VTI, QQQ, SPY) be too risky given my short timeline?

I already have an emergency fund in a HYSA at my bank. I plan to invest probably up to $30-40k into TFSA Questrade and withdraw a few months before I leave.

My spouse (early 30s) does not want to invest in the stock market. I'm no expert but my plan has been to choose 1-2 diverse ETFs (ie. XEQT, HBNK) and just keep holding until retirement. My spouse finds the companies being traded in those ETFs morally reprehensible and doesn't want to participate. I've suggested that ESG ETFs or socially conscious ETFs like XUSR or XCSR might be a decent compromise but I don't want to find out I'm wrong 30yrs later. Right now she is investing with a CIBC advisor in socially conscious mutual funds and ETFs and I suggested that the fees are not worth her not having to make any decisions. What's the best move here? Is there a better option I'm not considering?

I have DB pension so I'm a little less stressed about my rrsp.

Just wanted to share my experience with Kia Canada and hopefully get some advice.

I recently returned my 2024 Kia Telluride. I genuinely loved the vehicle and was planning on getting another one. Unfortunately, the lease return process has completely changed my opinion of Kia Canada.

For some background, I’ve worked in the automotive industry for over 10 years. I’ve personally leased BMWs, Mercedes-Benz and Audis, all with lease end protection, and never experienced anything like this.

I returned my Telluride early and fully accepted the approximately $830 early termination charge. No issues there.

What I wasn’t expecting was a bill for roughly $2,300, especially considering I purchased Kia’s Lease End Protection.

Some of the additional charges included:

Over $500 for two window mouldings, despite Kia having recalls involving Telluride mouldings.
$599 for an alleged 11-inch scratch.
$248 for a previously plugged tire.

I understand lease end protection has exclusions, but I was surprised by how little seemed to be covered.

**The worst part has been dealing with Kia Canada.**

The first level of customer service didn’t seem to fully understand how leasing or lease end protection works. Eventually, I spoke with a manager in the lease end department who was extremely rude and condescending.

Rather than addressing my concerns, he repeatedly brought up the fact that I hadn’t purchased another Kia and essentially told me I wasn’t a loyal customer.

Here’s the funny part. **I actually want another Telluride.**

My wife is on maternity leave, so we don’t need another vehicle until she returns to work. I was planning on waiting for the new Telluride to arrive in Canada.

I was told I could receive a $500 loyalty credit if I ordered another Kia. No problem, I contacted my dealership and placed a preorder for the new Telluride.

Now I’m being told the vehicle must be in stock and delivered within 30 days to qualify.

How am I supposed to take delivery of a vehicle that isn’t even available in Canada yet?

After several conversations, the lease end manager finally agreed to cover $200 towards one of the moulding charges, which was approximately $299 plus tax.

He promised to send an updated invoice. **I still haven’t received anything.**

Just automated responses. When I follow up, I’m now being told they don’t email anything.

My invoice is due, and I’m apparently expected to pay the original amount and just hope they eventually refund the difference?

I’ve even reached out to higher-level Kia Canada executives through referrals and connections I’ve made during my 10 years in the automotive industry. Not a single response.

That’s what blows my mind. We’re in an industry built around customer service, relationships and repeat business. I couldn’t imagine treating one of my customers this way.

I’m not asking for special treatment or trying to avoid legitimate charges. I just want an accurate invoice, clear explanations and someone to follow through on what they’ve promised.

The most disappointing part is that I actually enjoyed my Telluride enough to preorder another one. Yet Kia Canada seems more interested in telling me I’m not loyal than helping resolve a relatively straightforward issue.

**Has anyone successfully escalated a complaint with Kia Canada beyond the lease end department?**

At this point, I’m genuinely looking for advice. I’ve never experienced this level of customer service from any other manufacturer I’ve dealt with.

What a shame, because the vehicle itself was great.

House has $140k left on mortgage, interest rate on that is 3.85%. No other debt. Cars are all paid off. no credit card debt Salary with my partner combined is around $150k and my bartners company already contributes to RRSP plus has a great pension plan. We are already saving around $800 a month in a regular savings account. We also have liquic savings of around 50K in a regular savings account. We are 30.

Looking for some objective perspectives on whether my wife can stop working for the next 2 years.

For context, we’re a married couple in our late 30s living in Toronto. We’ve both worked hard to build our careers and save, but I’m finding it difficult to gauge whether we’re actually doing well financially or should be further ahead.

Our financial situation (all CAD):
Combined household income: ~$360K gross annually
My income: ~$180K
Wife’s income: ~$180K
Total savings and investments: ~$930K (excluding home equity)
Property: Own a relatively small condo in Toronto, worth approximately $500K
Remaining mortgage: ~$350K
Estimated household net worth: ~$1.1M including home equity
Other debt: None significant
Lifestyle: Relatively modest compared to our income. We don’t live extravagantly and generally prioritize saving and financial security.

Here’s our dilemma:
We’re thinking about starting a family, and there’s a possibility my wife may want or need to take approximately two years off work.

That would reduce our household income from ~$360K to ~$180K annually during that period.

We also eventually want to move into a larger home, but we’re hesitant to take on a much larger mortgage while potentially becoming a single-income household.

Despite having accumulated savings, I sometimes feel we’re behind, particularly considering Toronto’s cost of living, housing prices, and the fact that we’re approaching a stage where family-related expenses could increase significantly.

A few questions for the community:
Would you prioritize buying a larger home, continuing to invest, or maintaining flexibility while living on one income?

For couples who temporarily went from two incomes to one, how significantly did it affect your long-term financial trajectory?

Are we being unnecessarily conservative, or are our concerns justified given how expensive life in the GTA has become?

I’m not looking for validation or a humble brag. I’m genuinely interested in understanding how others assess financial security, particularly when deciding whether to prioritize family time over maximizing household income.
Would appreciate perspectives, especially from couples who have navigated something similar

How would you invest $50,000 right now?

I’m a student and I graduate by the end of 2027.

I make about $25 (digital tips included) and I try to work less than 20 hours to meet as much OSAP grant as possible.

My rent is $1,200 everything included.

I take home about $900-950 after taxes bi-weekly.

I have zero credit card debt. I have 3 credit card and 2 of them don’t have fees except one. I have $20,000K limit in all of them and I plan to use my TD First Class VISA infinite card starting this point on.

So I have about $600 monthly budget.

$200 of that is spent on subscriptions.
(Apple care, iCloud, school subs, insurance, phone)

So I have $300 take home.

Right now, I have about $3,000 in my chequings from OSAP that I’m trying to get it to last until end of the year.

I receive $300 monthly from someone who owes me money until the end of 2027 as well.

So if I could last without going broke until next year, it’d probably help a lot.

This doesn’t account for my transportation, grocery, food, and some snack/social time.

I know that sometimes $600 won’t be enough (and this is why I have $3000 for emergency until the end of this year and I receive more OSAP funding)

I have $40,000 in TFSA investment, and $15,000 in RRSP/DPSP.

I really don’t want to touch my TFSA investment as much as possible but it’s the only other liquid cash I have aside from my chequings, and credit card.

How should one proceed if I have to budget like this until the end of 2027?

Should I open a LOC/personal loans? This might hurt my OSAP but I really don’t know how to proceed from here.

I understand that spending within my budget is the best thing but there are outliers out there that just will not go as planned.

Should I just depend on my credit card until then?

I pay my credit card diligently and for the last 5 years that I’ve had my credit card… I don’t think I’ve ever incurred much penalty except when I really forget to pay monthly.

I also have a lot of credit card points I can convert worse come to worse.

I’d really like another person’s feedback and any idea or help is greatly appreciate.

Thank you

Wondering how we should budget. We are a family of 5 and are pretty good at saving our money, but we don’t really have a strategy, all we do is try not to waste money on things we don’t need, don’t eat out all the time and try to be frugal. What steps should we be taking right now to monitor spending and budget? Are there popular apps people are using? How can we be smarter with our money.