The Canada Pension Plan (CPP) rate increases are essential adjustments made annually to ensure that benefits keep pace with the cost of living. These increases are determined by the Consumer Price Index (CPI) and are legislated under the Canada Pension Plan Act to protect the purchasing power of beneficiaries. When Are CPP Rate Increases Applied? Continue reading
Kathy Hilton
Start Fresh A Step-by-Step Guide to Revamping Your Finances for the New Year
As we step into 2025, simply copying and pasting your previous year’s budget won’t be enough to achieve your financial goals. Experts emphasize the need for a fresh approach to budgeting and planning to navigate the ever-changing financial landscape. Why You Need a New Plan “Things don’t stay the same. Prices keep going up,” said Continue reading
Food Prices Could Rise by Up to 5% in 2025, and Experts Cite the Loonie as a Factor
An annual report on food prices in Canada is forecasting continued increases in grocery costs for 2025. The Food Price Report, released Thursday, predicts significant price jumps in certain categories, including meat and vegetables, as well as higher costs for dining out. However, the report also notes that some food prices in 2024 were lower Continue reading
Quebec Halts Financial Incentives for EV Purchases
The Quebec government has announced a temporary suspension of subsidies for electric vehicle (EV) purchases under the Roulez vert program. The suspension will take effect from February 1 to April 1 next year due to insufficient funds in the program. Here’s everything you need to know about the impact of this decision. Temporary Halt on Continue reading
Owen Sound Resident Scores $1 Million Lottery Win
An Owen Sound resident has struck it big in the lottery, taking home an impressive $1 million prize. Barry Anstett, a 56-year-old lottery enthusiast, claimed the Triple Millions top prize during the August 29, 2024, main draw. A Dedicated Lottery Player Barry Anstett has been playing the lottery with the Ontario Lottery and Gaming Corporation Continue reading
New Year Brings Higher Fees, Taxes, and Utility Rates for British Columbians
As the new year begins, Canadians face various financial changes, from higher Canada Pension Plan (CPP) contributions to adjustments in tax brackets and BC Hydro fees. Here’s a breakdown of the key updates you need to know to plan your finances effectively. Higher Tax Brackets for 2025 To offset inflation, income tax brackets will increase Continue reading
USD/CAD Dips to Around 1.4350 as Oil Prices Continue to Climb
The USD/CAD pair has halted its two-day rally, trading at approximately 1.4370 during the Asian trading hours on Thursday. This downside correction in the pair is mainly attributed to a retreat in the US Dollar, following its recent surge. The US Dollar Index (DXY), which measures the US Dollar’s strength against six major currencies, is Continue reading
What’s Getting More Expensive for British Columbians in 2025?
It’s no secret that the growing cost of living has left many British Columbians feeling the pinch in 2024. With the new year approaching, 2025 is shaping up to deliver another round of financial pressures. Prices on fuel, housing, food, and transportation are all expected to rise again. However, there are a few silver linings Continue reading
Report Predicts Grocery Prices Will Increase in 2025
Canadians are preparing for a significant rise in grocery costs in 2025, as a new report projects food prices will increase by 3 to 5 percent nationwide. In Quebec, the increase could climb as high as 5 percent, adding pressure on households already dealing with inflation. Food Price Increases Could Add $800 for Families According Continue reading
Here’s What Will Cost More for Montrealers in 2025
Inflation in Montreal is slowing down, but residents will still feel its effects in several areas in 2025. From higher grocery bills to rising vehicle registration fees, here’s a breakdown of how inflation, cost-of-living adjustments, and economic changes will affect Montrealers this year. Grocery Prices Are on the Rise Montrealers should brace for higher food Continue reading