More COVID-19 Scams to Monitor

During this pandemic, it’s not just your physical health at risk, your financial health may be as well. Throughout times of uncertainty we are seeing fraudsters launch sophisticated scams, exploiting public fears for targeted attacks – and we’re definitely in uncertain times.  In addition to the scams we went over earlier, here are five more of the most prevalent COVID-19 scams we’re seeing used to attack people’s financial health and how you can protect yourself from being a victim.


You don’t think it can happen to you, until it does. We often think we will never fall victim to a scam, but it can happen to anyone. Fraud scams are under reported because victims are too embarrassed to admit they were exploited, and this perpetuates these crimes.

Fraud doesn’t discriminate and the tactics become more predatorial and sophisticated in health and economical crisis such as the COVID-19 pandemic. More than one million Canadians applied for Employment Insurance between March 16 – 22, 2020 because of COVID-19 job losses. The Government of Saskatchewan started introducing public health orders on March 17 that restricts social gatherings and business closure for non-essential services. People are more isolated than they’ve ever experienced, they’re feeling financially insecure, and their sense of normalcy has been disrupted. Criminals target these feelings and with the increase of information about COVID-19 in media coverage, on social media, and direct email, it can be difficult to know what is trustworthy. Let’s make sure you are aware and protected from the following scams:

Social Media Questionnaires

Have you ever used your first car or your pet’s name as the answers to security questions? I know I have. Although harmless at first glance, these questionnaires are an easy way for a fraudster to gain access to your personal information to either answer your security questions or even pose as you to gain financial access.

You might be thinking, “I would never post this”, but someone you care about might or maybe has already. You may also think “I trust everyone in my friend list to not share my information.” They may be trustworthy, but it just takes one of them to get hacked and all of a sudden your personal information is in the hands of a fraudster.

Here’s how you can protect yourself:

  • DO NOT participate in these questionnaires and delete any old ones that you’ve posted. Spread the word to your friends and family as well.
  • Do not accept any friend requests from people you do not know and remove anyone that somehow slipped through the cracks.
  • Restrict the privacy settings on your social media accounts
  • Use secure passwords that include letters, numbers, and characters. Change your password routinely
  • Avoid security questions that could be easily guessed

CRA Text Scam

Do you know the warning signs of a scam? With all the uncertainty in the world right now, it’s easy to want to believe the best in people. This is what fraudsters are thriving off – vulnerability. This news story from CBC, warns Canadians of a text scam exploiting the new emergency relief program.

However, this isn’t the only scam going around. Some other scams to be alert for are text messages or emails from fraudsters impersonating the Canada Revenue Agency. This article outlines what to actually expect when the Canada Revenue Agency contacts you.

Here’s how you can protect yourself:

  • If it’s an unfamiliar phone number or email, don’t automatically trust the source
  • Look for spelling and grammatical errors in the text
  • Ask yourself “Does the URL look credible?” If you have ANY doubt, contact the company and fact check the message.

For more information on how to protect yourself, here the CRA outlines how to ‘Slam the Scam’.

Work From Home Scams

The provincial government recently warned against a work from home scam during the COVID-19 crisis. Fraudulent ads by companies offering opportunities to work from home as securities traders are appearing on social media. These ads promise that traders can keep a large percentage of the profits and they don’t need experience or a license. They only need to pay fees to the would-be traders.

If you’ve experienced job loss from COVID-19 and you’ve lost childcare, this would seem like a good way to replace your income – which is exactly why this tactic is being used. In Saskatchewan, anyone in the business of trading securities must be registered with Financial and Consumer Affairs Authority (FCAA), unless an exemption applies. The FCAA expects that similar scams will continue to increase during the COVID-19 crisis.

Fraudsters Posing as Financial Institutions

In times of uncertainty or struggle is often when individuals turn to their financial institution for advice, services or products to help them navigate their financial situation.

A text message scam has been circling around where fraudsters are posing as a financial institution, using scare tactics to try and gain access to your information.

 

 

As seen in this message below, someone impersonating Scotiabank has used a scare tactic to make you think your access has been disabled to get you to click the link. As we touched on before, here are some things you want to look out for:

  • Unfamiliar phone number
  • Spelling and grammatical errors
  • Unusual links

Here’s how you can protect yourself:

  • Don’t click any of the links in the message – go directly to your financial institution’s website through your web browser
  • Always log in to your account directly online or through your mobile app
  • Double check the source of the text – when using scare tactics people often just react, but in reality, you may not even have an account with Scotiabank
  • If something serious was happening to your account, your financial institution would definitely call you, not text you.

Exploiting Grocery Delivery for seniors

As we all take measures to social and physical distance ourselves, common tasks such as grocery shopping have become difficult, especially for some of the most vulnerable in our communities. Unfortunately, fraudsters are posing as helpful citizens offering to deliver groceries to seniors who are socially isolated or are physically unable. These scams ask for e-transfers or credit card numbers in advance with the grocery list. They’ll also ask for your address – not so they know where to deliver the groceries, but so that they can list it as the billing address when they charge the card. Disgusting, right?

Here’s how you can protect yourself:

  • Utilize delivery services offered directly through grocery stores/business in your community. Many grocery stores have started offering special shopping hours for seniors
  • Rely on friends and family to shop for you
  • Be alert and aware of other scams that exist right now
  • Have conversations with your parents and grandparents to educate them on how they can protect themselves

Remember, fraud does not start and end here – it’s important that you remain alert even as the COVID-19 pandemic comes to an end. If you have been targeted or have fallen victim to an attack, it’s nothing to be ashamed or embarrassed about. It can happen to anyone.

For more information about protecting yourself from fraud and to learn about different scams out there right now, visit https://www.antifraudcentre-centreantifraude.ca/features-vedette/2020/covid-19-eng.htm.

Breaking Down the Emergency Support for COVID-19: Non-Profits & Charities

Managing a non-profit or charitable organization is very overwhelming right now. These services are needed more than ever but fundraising is difficult to access with physical distancing and the economic downturn.  Let’s break down the different federal and provincial emergency supports available to help you navigate these unsettling times. 


Non-profit and charity organizations are among those who have been most severely affected by the COVID-19 crisis. Necessary physical and social distancing measures to contain the infection and protect communities has created significant job loss for Canadians. This means these organizations are depended on more than ever to deliver basic human needs to vulnerable populations who depend on them, especially in a public health crisis and economic downturn. Non-profit and charitable organizations have lost major event fundraising streams, putting a strain on budget while the need for their support continues to rise. 

We’ve done our best to compile and simplify the financial support and professional resources for non-profit and charitable organizations. We’ve also included resources for professional fundraisers to help ease their financial burdens and continue helping our vulnerable neighbors and communities. 

Relief for Non-Profit and Charity Organizations 

Temporary Wage Subsidy for Not-for-Profit Organizations, Charities, and Small Businesses

Government of Canada
The federal government’s temporary wage subsidy is providing not-for-profit organizations and charities a 75% wage subsidy for up to 90 days if their revenues are down by at least 30% from COVID-19. This subsidy will be on the first $58,700 earned, meaning up a maximum of $847 per employee per week, retroactive to March 15, 2020. Employers benefiting from this measure would include corporations eligible for the small business deduction, not-for-profit organizations and charities. This replaces the 10% wage subsidy that was announced early in the COVID-19 Economic Response Plan. 

More Time to Pay Income Taxes

Canada Revenue Agency (CRA) has extended the income tax filing and payments for charities to December 31, 2020, for all charities with a Form T3010, Registered Charity Information Return due between March 18, 2020 and December 31, 2020. This relief applies to tax balances due, as well as installments, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period. 

Bill-Deferral Program on Provincial Utilities

Saskatchewan Crown Corporations that operate utilities in the province will offer a zero-interest deferral on all utility payments for a period of 6 months. 

SaskTel – waiving data overage charges, offering news and family channels for free 

SaskPower – stopped active collections and won’t be limiting power supply to customers 

SaskEnergy – deferring payments and not limiting natural gas supply 

ISC Suspension Order for Strike Off Provisions

The Information Services Corporation (ISC) has suspended the strike off provisions for non-profit corporations, co-operatives, and new generation co-operative entities. The suspension is meant to assist organizations that are not in a position to file annual returns and financial statements at the Corporate Registry due to delays in annual meetings caused by the restrictions and recommendations on public gatherings. To further lessen the impact of being unable to file in a timely manner, annual return late filing fees for not-for-profit corporations and co-operatives will be suspended. 

Relief for Human Services  

Emergency Shelters

Government of Canada
The Reaching Home program will provide $157.5 million to continue supporting those who are homeless. The funds can be used for needs such as purchasing beds and physical barriers to improve social distancing in shelters. It’s also available to secure accommodations during the outbreak to reduce overcrowding in shelters.  

Government of Saskatchewan
The Government of Saskatchewan is providing one-time additional funding of $171,000 targeted to meet the extra cost pressure emergency shelters are experiencing as they continue to serve those in need during the COVID-19 pandemic.  These organizations currently provide more than 300 beds for individuals who need emergency shelter and supports. Organizations receiving the increase are: Lloydminster Men’s Shelter; YWCA Regina – My Aunt’s Place; YWCA Prince Albert; YWCA Saskatoon; Lighthouse Saskatoon; Lighthouse North Battleford; Salvation Army Saskatoon; Salvation Army Regina; Soul’s Harbour Regina and Soul’s Harbour Moose Jaw.   

Modified Emergency Shelter Response

Government of Saskatchewan
When emergency shelters are unable to meet the needs of an individual or family because of capacity pressures, Social Services will support those in need with funds for emergency hotel stays and will work to transition clients to permanent housing. 

If an individual is required by Public Health to self-isolate due to COVID-19 symptoms or exposure, that person will be transitioned to a safe accommodation such as a hotel or an individual housing unit. 

There are approximately 1,700 vacant Saskatchewan Housing Corporation units located in 29 larger communities that will be leveraged to ensure those impacted by COVID-19 are able to access housing or an individualized space to self isolate.  An additional 1,200 units are available in smaller communities across Saskatchewan. 

Support for Children, Youth & Families

Government of Saskatchewan
Transitions to independence for young people will be delayed, so that any youth that “ages out of care” during the COVID-19 pandemic will not be transitioned out of their current housing.   

Child Care Subsidy

Government of Saskatchewan
To help families receiving the Child Care Subsidy (CCS), any families who were receiving part-time benefits because their children were attending school will receive full-time benefits, retroactive to March 1, 2020.  The CCS helps parents with low to moderate incomes with the costs of licensed child care. 

Income Assistance (IA)

Government of Saskatchewan
All Income Assistance clients will continue to receive their benefits even if a client is late reporting, effective March 19, 2020.

Social Services Physical Distancing and Eased Reporting Measures

Government of Saskatchewan
Social Services offices remain open with the first hour of the day reserved for more vulnerable individuals, including those with a disability or health issues such as a compromised immune system. Clients are asked not to visit the offices unless it’s an emergency and they’re unable to call their social worker or they are asked to visit an office. 

Saskatchewan residents who may need income support can apply here or call the Client Service Centre at 1-866-221-5200.  More staff have been shifted to the Call Centre to help serve those in need.

Domestic & Family Violence

Government of Canada
$50 million will be given to women’s shelters and sexual assault centers to help ease capacity and prevent outbreaks among women and children fleeing interpersonal and domestic violence. This funding will also support facilities in Indigenous communities.  

Youth Mental Health Care

Government of Canada
Kids Help Phone is experiencing increased demand for its 24/7 confidential online, telephone, and text counselling services across Canadaas a result of school closures and reduced access to community resources. The Government of Canada is giving $7.5 million in funding to Kids Help Phone to provide young people with the mental health confidential support. 

Caring for Vulnerable Seniors

Government of Canada
Canadian seniors are among the most impacted by COVID-19, and often rely on caregiving support from people who live outside of their homes. The Government of Canada will contribute $9 million through United Way Canada for local organizations to support practical services to Canadian seniors. These services could include the delivery of groceries, medications, or other needed items, or personal outreach to assess individuals’ needs and connect them to community supports. If you are planning to donate to these charities, be careful as there are a lot of scams pretending to be these reputable organizations. Visit this MONEYTALK blog that goes through these COVID-19 scams and how to ensure you are contributing to a valid organization.

Resources for Fundraising Professionals 

LINK: COVID-19 resource guide for fundraising professionals

The Association of Fundraising Professionals has gathered educations and resources to help non-profit and charitable organizations navigate fundraising, donor communicationsand what it means to engage with donors during a time in which social distancing and staying home is more important than ever. 

Conexus Member Support for Non-Profit Organizations and Charities

Conexus can help assess your situation and determine the best options to provide some relief including working with you to activate a skip-payment plan, to defer monthly payments, or to create an interest only payment plan to help your business navigate the economic downturn. 

 This relief is available to members, non-profit and charity organizations, small business members, commercial members, and agricultural members in good standing who are feeling a financial impact and are looking for a temporary relief from mortgage, line of credit and loan payments.  Please avoid coming into a branch and call your financial advisor or our Member Contact Centre at 1-800-667-7477.  

Conexus Business Accelerator

In partnership with Meyers Norris Penny, Conexus Credit Union offers free business webinar courses for non-profit and charitable organizations and business owners in Saskatchewan. Protecting Your Business and Employees, Managing Cash Flow and Stress Management are just a few of the courses that are relevant to this time. 

 Do you work or volunteer in the non-profit and charity sector and are looking to view the complete action plans from both governments? Visit the following:

FEDERAL   |   PROVINCIAL

UPDATED: What Emergency Funding is Available for Businesses & Ag Producers

The COVID-19 pandemic is making a significant impact on the Canadian economy, especially with small and medium sized businesses. The federal and provincial governments have announced different support efforts to relieve businesses and agricultural producers during these anxious times. Let’s help you break down these different measures so that you can brave this storm and best protect your business’ financial well-being.

UPDATED: March 30, 2020


Due to the nature of COVID-19, how it spreads, and how self isolation is the best way to fight against it, businesses across Canada are facing difficult decisions. Over the last week, many provinces and municipalities have announced measures to stop the spread of the virus that resulted in business closures and massive layoffs. The Government of Canada has also announced multiple initiatives to support businesses to provide economic stability during this time. Agricultural producers are also feeling the weight of the pandemic as they approach the beginning of spring seeding and how to get their goods from a difficult 2019 growing year to market. Most of the information below and how to apply for benefits from the Government of Canada can be found here.

Supports for Businesses

Temporary Wage Subsidy

Canadian businesses, including non-profit organizations and charities, whose revenue has decreased by at least 30% due to COVID-19 and facing employee layoffs can access a temporary wage subsidy for 3 months. Business owners can receive 75% of wages per employee to a maximum of $58,700 during the 3-month period, to a maximum of $847/week per employee. These payments will be back dated to March 15, 2020. Businesses can begin accessing this support by reducing your remittances of income tax that they withhold on employee pay.

To create some balance between employers and employees, the Government of Saskatchewan will allow businesses to not have to provide notice or pay in lieu in the event of a public emergency when the layoff is 12 weeks or less during a 16-week period. Additionally, if an employee is laid off for more than 12 weeks in a 16-week period, they will be considered terminated and entitled to access federal employment insurance programs.

Businesses also qualify for payment deferrals on loans, skip-a-payment, and interest only payment plans. You are encouraged to reach out to your financial institution to determine what supports are available to you and what makes the most sense with your financial situation.

Business Tax Filing

Like the measures taken for filing personal income taxes, businesses will be able to defer the payment of income tax until September 1, 2020. No interest or penalties will accumulate on these amounts owing. The Canada Revenue Agency will also pause most of its audit interactions for businesses for the next 4 weeks. For businesses requiring assistance understanding your tax obligations, help will be administered over the phone or through webinar.

Businesses and self-employed individuals can defer payments of the Goods and Services (GST)/ Harmonized Sales Tax (HST) until June 30, 2020. Businesses will also be able to defer customs duties owing on imports until June 30, 2020. Details about remittance schedules and how they qualify can be found here.

The Saskatchewan Government is also providing relief for you if you own a business and are unable to submit your Provincial Sales Tax (PST) remittance over the next three-months. You can submit a request for relief from penalty and interest charges here. Like the federal government, they are also pausing audit and compliance programs for businesses.

Credit Services

Canada Emergency Business Account (CEBA)

On March 27, the federal government announced the Canada Emergency Business Account. This emergency loan program will allow businesses to access interest-free loans of up to $40,000 to cover operating costs while revenue is down due to COVID-19. If the loan is paid in full by December 2022, 25% of the loan will be forgiven, to a maximum of $10,000. Contact your business advisor or financial institution to learn more about the CEBA and what it means for your business. Please keep in mind that your financial institution will have received this news at the same time it was announced and it will likely take a few weeks for them to put their measures in place to support you.

To ensure Canada’s businesses have access to credit services during this time, the Government of Canada is relaxing its parameters for certain funding:

  • The Canada Account ensures Canadian Exporters have access to loans, guarantees, and insurance policies during this time.
  • The Business Credit Availability Program (BCAP) is allowing the Business Development Bank of Canada (BDC) and Export Development Canada to support small and medium businesses with an additional $10 billion. In addition, BCAP and BDC will work with private sector lenders to ensure credit solutions are offered for individual businesses, specifically businesses that operate in the oil and gas, air transportation, and tourism sectors.
  • Canada’s individual banks will be able to access $300 billion for the economy by lowering the Domestic Stability Buffer of risk-weighted assets by 1.25%. This is in addition to the Bank of Canada reducing its interest rate to 0.75% to support the economy. Further reductions to the interest rate are expected, but not known at this time.

More details on market support measures taken by the Government of Canada can be found here.

Supports for Agricultural Producers

Farmers and the agri-food sector will be supported by Farm Credit Canada and an additional $5 billion dollars provided by the Government of Canada. You are encouraged to contact Farm Credit Canada to discuss the supports available to you.

Eligible farmers who have an outstanding Advanced Payments Program (APP) loan that comes due on or before April 30 will receive an automatic stay of default, giving farmers an additional 6 months to repay the loan. Those farmers with outstanding interest free loans, under the $1 million cap, can also apply for an additional $100,000 interest free portion for the 2020-21 year.

Producers may also qualify for payment deferrals on loans, skip-a-payment, and interest only payment plans. You are encouraged to reach out to your financial institution to determine what supports are available to you and what makes the most sense with your financial situation.

Breaking Down the Emergency Funds for COVID-19: Individuals & Families

The COVID-19 crisis has produced a lot of federal and provincial government action in order to support Canadians through these unsettling times. However, unless you are already familiar with these supports, a lot of the terms and relief options can sound intimidating and may go unused if you do not understand them. Let’s break down the different emergency fund options for individuals and families, the qualifications for each and how you can utilize them to protect your financial well-being.


Over the last week, there have been countless announcements about financial support for both families and businesses across Canada. The increase in information can be a lot to take in when you are worrying about your job, family, and finances. Most of the information below and how to apply for benefits from the Government of Canada can be found here. I’ve done my best to compile and simplify the essential information so you can understand how local governments in our province and the provincial and federal governments are stepping up to help Canadians.

GST Credit

If you are a low-income single adult or family, you will receive a special top-up payment under the Goods and Services Tax (GST). This will double the maximum annual GST credit you will receive for the 2019-2020 benefit year. Payments will increase by almost $400 for single low-income adults, and almost $600 for couples. The one-time payment will arrive in early May 2020.

Canada Child Benefit

If you are entitled to the Canada Child Benefit, you will see payments increase for the 2019-20 year by $300 per child. On average, this will mean an additional $550 increase for families. This will be issued on the May 20, 2020 CCB payment.

Student Loans

Canada Student Loans payments will be deferred for a period of 6 months. Payments will be paused, and no interest will accrue on the amount owing. If you also have student loans with the Government of Saskatchewan, a 6-month loan payment deferral has also been implemented, mirroring the federal relief. Student loans from your financial institution may also qualify for a skip-a-payment plan, but you should contact your financial institution to find out the options available to you and what makes the most sense with your financial situation.

RRIF and RPP Withdrawals

Withdrawals from Registered Retirement Income Funds (RRIFs) are being reduced by 25% for the 2020 year. This also applies if you are receiving benefit payments from a defined Registered Pension Plan (RPP). You can view the minimum withdrawal percentage as of 2018 here.

Mortgages

The Canadian Government is providing $50 billion for the Ensured Mortgage Protection Program to support Canadians who are affected by COVID-19. The Canada Mortgage and Housing Corporation (CMHC) and other mortgage insurers are offering payment deferrals and special payment arrangements effective immediately on all CMHC insured mortgages.

In addition, many financial institutions in Canada are committed to working with customers to provide flexible solutions to your financial needs. This includes payment deferral on mortgages, auto loans, and personal loans for up to 6 months. You are encouraged to contact your financial institution to better understand your options during this time and what makes the most sense with your financial situation.

Utility Deferrals

Saskatchewan Crown Corporations that operate utilities in the province will offer a zero-interest deferral on all utility payments for a period of 6 months.

SaskTel – waiving data overage charges, offering news and family channels for free

SaskPower – stopped active collections and won’t be limiting power supply to customers

SaskEnergy – deferring payments and not limiting natural gas supply

City Supports

Specific measures for major municipalities in Saskatchewan can be found here:

Saskatoon     |     Regina      |      Prince Albert      |     Moose Jaw      |     Humboldt

Groceries

If you’ve visited a grocery store in the last two weeks, you’ll know that essentials like toilet paper, bleach, and disinfecting wipes are scarce. The major grocery stores in Canada have assured the public that the supply chain to keep stores stocked is strong. This has also been supported by the United States and Canadian governments’ commitment to keep the borders open to commercial traffic to ensure the flow of these goods.

In addition, major grocers have also committed to maintaining the price of goods instead of increasing prices as we usually see with an increase in demand. The President and CEO of Loblaws released this statement.

Childcare

The Government of Saskatchewan has announced that childcare facilities that are located within Saskatchewan’s schools will be re-purposed to assist with the childcare demands of health-care workers and essential services workers. This includes those employed in healthcare, child services, and emergency services. Read more here.

Personal Income Tax Filing

The date for filing personal income taxes for the 2019-20 year has been extended to June 1, 2020. However, to receive the new Canada Child Benefit payment and the GST one-time payment, you are encouraged to file your personal income taxes as soon as possible to ensure the amounts you will receive for the 2020-2021 year are correct. The Canada Child Benefit and GST payments are based off your 2019 taxes, and the amounts take effect in July 2020.

If you file your 2019 personal income tax, and owe money, you have until September 1, 2020 to make a payment on the taxes you owe. No interest will be accrued on any balances owing.

Where it applies, electronic signatures will be recognized instead of in-person signatures, to encourage social distancing. Measures will also be taken to encourage the public to file your income tax electronically and they have provided help with understanding your personal income tax over phone and webinar.

Trusts that operate on a December 31, 2019 taxation year, such as family trusts, have until May 30, 2020 to submit your 2019 trust income tax returns. This is extended from the March 30, 2020 deadline.

Employment Insurance

If you qualify for Employment Insurance (EI) Sick Leave Benefits, the requirements for EI are as follows:

Unemployed due to work closure?

REQUIREMENT TO QUALIFY: 700 hours worked in the last 52 weeks

  • Your employer will need to submit a Record of Employment to the Government of Canada.
  • The one week waiting period remains in effect.
Unemployed due to self-quarantine?

REQUIREMENT TO QUALIFY: 600 hours worked in the last 52 weeks

  • You do not need to provide a Record of Employment or doctor’s note.
  • The one week waiting period is waived

If you qualify for either of these situations, you can apply here. You can also call to apply, but wait times will be much higher than normal.

Canada Emergency Response Benefit

The Canada Emergency Response Benefit will provide up to $2,000 a month for the next four months if you don’t qualify for Employment Insurance. Administered through the Canadian Revenue Agency (CRA), you may qualify if you are one of the following:

  • self-employed, quarantined, or sick with COVID-19
  • self-employed and caring for a family member who is sick with COVID-19
  • a parent of children and cannot work due to school or daycare closures, whether you qualify for Employment Insurance or not
If you are facing unemployment and don’t qualify for EI:

You will not need to provide a doctor’s note to access these benefits and are encouraged to sign up to receive the benefit through direct deposit. The application will be available in early April, and applicants will need to confirm they meet the requirements when they apply. You will also need to reconfirm your eligibility every two weeks. You can apply in one of 3 ways:

  • Applying through your My CRA account
  • Applying through your My Service Canada Account
  • Calling toll-free at 1-833-381-2725

When applying through My CRA or My Service Canada, you will need a secure PIN code. If you feel you qualify for this benefit and do not have access to either of these accounts, you can request your PIN here. It can take up to 10 business days before you receive it in the mail, so requesting it now ensures you’re ready to apply when the application opens.

EI Work Sharing Program

If you’ve agreed to reduce your normal working hours because of your employer’s efforts to curb the impact of COVID-19, you can also take advantage of the EI Work Sharing program. This provides Employment Insurance benefits to you if you’re still employed but working less than you normally would. In order to qualify for these benefits, you will have needed to work 76 weeks (an increase in the standard 52 weeks).

The Government of Saskatchewan also passed legislation ensuring that if you need time off work because you are sick with COVID-19 or are required to care for a family member who is sick, you will not experience job loss. Even if you have been working with your employer for less than 13 weeks, you qualify for job protection under this legislation.

Self-Isolation Support Program

If you have contracted COVID-19, have been in contact with someone who has COVID-19, or recently returned from international travel, you are required by law to self-isolate for 14 days. In this instance, the Government of Saskatchewan has announced the Self-Isolation Support Program that provides you with $450 a week, for a maximum of two weeks as income support. To qualify, you must also meet the following criteria:

  • you are ineligible for compensation from your employer through sick or vacation leave
  • you do not have access to private insurance to cover labour disruptions
  • you are not covered by the other federal income support programs that have been announced

Beware of These Scams During the Coronavirus Pandemic

As you take precautions to protect yourself from the coronavirus, don’t forget to safeguard your financial well-being from fraudsters who are hoping to cash in on the paranoia. Here’s how you can identify scams that are currently being used and what you can do to ensure you are shielded from fraud during the pandemic. 


Well this escalated quickly.

The coronavirus is a devastating pandemic that is making a massive impact on the economy and health care systems all across the world. As of March 20, the world has experienced over 267,000 cases of the virus and although Canada is only representing a small portion of that total with 925 cases, we are in uncharted territory. Terms like “social distancing” and “self monitoring” have become second nature in (remote) conversation and we’ve all been exchanging shows to binge on Netflix during our two week long self-isolation periods.

This is truly an unsettling time where paranoia and panic are running rampant. Unfortunately, like a virus themselves, fraudsters and scammers feed on this urgency and as if we didn’t have enough to worry about, with the increase in global coverage comes an increase in fraud activity. Let’s make sure you are briefed and safeguarded against the types of fraud to watch out for so you can focus on protecting yourself from the global pandemic.

Fraudulent Health Products & Professionals

Fraudsters know that during a pandemic, your anxiety surrounding your health skyrockets and you’ll do whatever it takes to ensure you and your family are protected. From the moment that the coronavirus hit the global media, scammers were creating fake products that claim to boost your immune system, cure you from symptoms and, in some instances, have access to a vaccine.

The sad truth of the matter is that although they are in development, we are likely a year away from having a vaccine available and there are no approved drugs to prevent the virus. The websites and messages that these scammers are sending are chocked full with convincing information on the product, faux testimonials, professional sounding terms like “clinical trial” and even conspiracy theories about their company having access to a vaccine that the pharmaceutical industry is withholding for money. We’ve also seen con artists who are impersonating World Health Organization professionals with alleged access to information on a miracle drug. These con artists have been sending emails with important updates on the virus that prompts readers to click on a phishing link or download malicious software.

How you can protect yourself: Caution will prevail here. As long as you know that any medical information, especially on vaccines or treatment, will come directly from your healthcare professional and not from a link from a suspicious email address – you’ll know not to click anything or entertain any offers for a miracle drug. Be suspicious of products and “professionals” that have cured the virus and when in doubt, check with your health care professional.

Fake Charities & Fundraising Efforts

Another tactic that fraudsters employ is to pull on your heart strings. With the coronavirus affecting so many small businesses and charities, many are calling for aid in order to navigate these tough waters. Scam emails and phone calls have been going out to try and trick people into donating to fake charities and relief efforts. They may say that they are looking for a small donation but as soon as they have your credit card number or authorization, they have access to take as much as they want.

In addition, you may see a few GoFundMe pages pop up on social media feeds to rally monetary support to offset expenses that affected families are incurring due to the virus. Most of these pages are started by incredibly generous people in order to provide support for families in a time of need, but unfortunately, scammers and fraudsters have also taken advantage of this method.

How you can protect yourself: Unless you know the family that is garnering the support or someone you know can vouch for them, it is safest to move along from any GoFundMe page or fundraising websites calling for monetary support. If you do want to contribute some money to a relief fund, consider experienced or established relief organizations, especially those that clearly describe the use of the funds. Beware of scammers impersonating those organizations, though!

Face Mask Scams

Yes, these are a thing. Scammers are actually capitalizing on the high demand for face masks. Many different websites and organizations claiming to sell face masks online are attempting to lure you in by showing they have a limited amount of stock available. Why is this effective? The urgency and scarcity for an in-demand product will increase the likelihood of an impulsive purchase. It’s the same method that infomercials employ with “Act now before it’s gone!” messaging. The Red Cross has actually issued a warning that scammers are posing as them to solicit face mask purchases through text messages.

How you can protect yourself: Whether it is face masks, hand sanitizer or another product you are buying to protect yourself and your loved ones, make sure you are keeping an eye out for phony e-commerce sites and scams. If your gut is telling you that something “just doesn’t feel right” or “it seems too good to be true”, it most likely is. Only purchase from stores and websites with an established reputation. The most effective way to avoid a scam is to buy directly from a seller you are familiar with and who you already trust. When in doubt, make sure the seller has legitimate contact information, a real street address and a customer service number you can call before you hand over your name, address and credit card number.


It has yet to be seen how long the coronavirus will remain classified as a pandemic, but heightened fraud activity will be a constant throughout. Remain vigilant to avoid scams related to the virus, use caution when giving out your credit card information to e-commerce and relief efforts,  and look out for fake cures, phony prevention measures, and other coronavirus cons. We’ll get through this – but let’s make sure your financial well-being does, too.

The Great Buy vs. Lease Debate

It’s one of the most hotly contested debates of our time: Is buying or leasing a new vehicle the way to go?

Depending on who you ask, you’ll typically get a passionate and definitive answer based on personal experience. This blog weighs the pros and cons for each alternative and attempts to crown a victor. Spoiler alert: it’s not as clear cut as you may think. 


I currently drive a 2011 Ford Escape that has been an absolute dream for the past nine years. For about a year and a half, I’ve been contemplating trading it in for an upgrade but I’ve really enjoyed not having to worry about a monthly vehicle payment. The thought of trading in my SUV remained dormant in the back of my mind until one day when I was driving on Ring Road (Regina’s controlled highway that circles the city) and it hit me!

No, it actually hit me. Mid-transit, my hood flew up and smashed my windshield which left me travelling at 80 km/h on Regina’s main expressway without being able to see in front of me. Once I somehow safely navigated my way to the side of the road and got over the shock of what had just transpired, the first thing that went through my head was “it’s time for a new vehicle.”

In the past, I’ve always bought my vehicles (because that’s what Dad had always told me to do) but I’ve noticed that leasing is growing in popularity. Before I jumped on the same path, I decided to do my research to figure out the answer to the age-old question: “lease or buy?” Let’s break down both sides:

The Case for: Buying

  • No limits on the amount of kilometers you drive. Drive it off the lot and into the ground if you want! When you lease, you have a maximum amount of annual kilometers that you have to stay under without paying a penalty.
  • Your monthly payments will likely be higher than leasing, but you are paying to own. Eventually you will pay off your vehicle and will eliminate your monthly payment. I just spent five years without a vehicle payment and it made an enormous difference to my budget.
  • Freedom to customize, sell or trade in whenever you want. The vehicle is yours so feel free to put in those customized velvet seat covers to match the fuzzy dice hanging from your rear view mirror. You can’t do that under a lease.
  • No transactional fees. Depending on who you are leasing from, they may charge a “transaction fee” when you exchange your vehicle or buy it out at the end of your lease. Dealerships will claim it is to cover the paperwork that needs to be done, but these can usually be negotiated down before you sign your lease. Leasing will also require you to purchase a package policy on your insurance so be prepared for that expense as well.
  • Cheaper in the LONG run. Assuming your vehicle doesn’t require a ton of repairs once your warranty runs out and we’re operating in a stable market, purchasing is typically cheaper in the long run. Although your monthly payments will be more expensive compared to leasing, you will likely only need to pay for maintenance once you’ve paid off your vehicle. On the other hand, leasers will always have a monthly payment. In addition, you’ll be able to sell or trade-in your vehicle which will earn you a big chunk of change towards your next vehicle.
  • You don’t always have to buy new. Buying can be A LOT cheaper if you buy a used vehicle. Depending on how used the vehicle is, you will be incurring more risk for repairs but if you do your due-diligence, this can drastically boost your budget.

The Case for: Leasing

  • Cheaper in the SHORT term. Your monthly payments will be lower than financing a new vehicle. This allows you some more capacity to cover your monthly expenses and the ability to drive a newer vehicle without busting your budget.
  • Better warranty protection. Last year, I had to pay a couple hundred dollars to have my spark plugs changed. Apparently this can be done for much cheaper if you know how to do it yourself but if you are like me and feel incredibly accomplished after hanging a picture frame – finding coverage to make these repairs is definitely the best route. When leasing, the only thing you’ll need to worry about is regular upkeep (oil changes, car washes, etc.) and any damage subject to your deductible if you cause an accident.
  • New car every 2-4 years. When you finance a car, it will typically take you 3-5 years to pay it off and then you’ll likely spend another couple of years enjoying a life with no monthly car payment. By the time you are ready to trade-in your car, you’ll be craving the newest features. After driving without them for ten years, I would be tempted to take heated seats and a backup camera over a functional airbag at this point. A lease allows you to drive a new vehicle every 2-4 years which will help quiet your hankerings to sacrifice safety for comfort.
  • No money up front. When you are purchasing or financing a new vehicle, you’ll likely need to put down a big chunk of money in order to unlock smaller interest rates and shrink your monthly payments to a point where they won’t eat you alive. Buying instead of leasing typically takes more time as you’ll need to save for a while before you are ready to put a down payment on a car. You should obviously take some time to ensure leasing a new car fits your budget, but once you’ve made that decision, not having to pay any money up front can put you in the drivers seat of your new vehicle much faster.
  • Tax break if you are using it for business purpose. There are some tax advantages if you are leasing a car and using it for business purposes. Turbo Tax Canada breaks down these benefits in this article, but you can deduct the business percentage of your lease payments on your income tax. For instance, if you own your own business, your annual lease payment is $4,000 and you use your car for 75% business use – you may be able to deduct $3,000 on your annual tax return.
  • Easier to budget and no unexpected, expensive trips to the service department. I mentioned my spark plug struggle above, but that costly experience came when I took my post-warranty vehicle to the dealership to check out why my rear-windshield wiper fluid squirter (I’m quite confident this isn’t the technical term) was not working. This quick trip turned into an unexpected $2,000 purchase that included new brake pads, spark plugs, a new wiper squirter (again, not the technical term) and a few other things. This unexpected cost not only ruined my day, but it completely threw off my monthly budget and sentenced me to a month of eating ramen noodles. Because you’re always under warranty while leasing, your monthly payments are expected and you don’t need to worry about unexpected issues that will quickly burn a hole in your wallet and your budget.
  • No trade-in hassles at the end of the lease. Whether you are privately selling your car or looking to trade it in, it’s a huge hassle. Assuming you aren’t looking to buy-out the rest of your vehicle and you kept your vehicle in good condition, the end of your lease is quite hassle free. If you are continuing with a new lease, all you have to do is drive up with your old vehicle and drive off with a new one.

The Verdict: It Depends.

I know, I know – that’s the answer that nobody likes but it’s true. The good news is that there really is no wrong answer, but the trick is finding the best solution for you and your lifestyle. This decision is comparable to whether you want to buy or rent a house. Buying allows you more freedom to customize and is generally cheaper in the long-term, where renting removes the hassle of making repairs and gives you the flexibility to jump from house to house once your rental contract is up. If you are somebody that knows autobody, craves customization and ownership, wants to commit long-term and possesses the ability to diagnose and make repairs on your vehicle, buying may be the best route for you. If you prefer to drive a new vehicle without having to worry about maintenance costs and are comfortable with always having a monthly payment – leasing might be your best bet.

Here’s more good news – you aren’t stuck on one path for your entire life. Feel free to try out both options if it makes sense for both your budget and your lifestyle!


Like I said above, it’s common for people to have a very definitive opinion on this debate. Let’s hear yours!

How TO Fall for a Scam

Yes, you read that right. Fraud is not new and is something that’s been around for a long time – we all know a family member, friend or co-worker who has fallen victim to a scam. We all think “it will never happen to me” but it’s easier than you think to fall for a fraudster. Let’s take a look at how it can happen.   


With ever-growing technology, we’re seeing an increase in the number of scams out there and between 2014-2016, it’s estimated Canadians lost over $290 million to fraudsters. Scams and fraud can originate through a variety of different channels including phone, email and social media, and some of the top scams include romance scams, income tax extortion scams and phishing.  

 Here are a few tips on how to protect your information and detect one of the scams out there: 

Caught in a bad romance 

 Gone are the days of having to go to the bar or local hangout to meet that special someone. With the growth of technology, many relationships nowadays are starting online. 

Unfortunately, this has also caused an increase in romance scams and, in 2018, Canadians lost more than $22.5 million to this type of scam. That’s a lot of money that could have paid for heartbreak chocolate and ice cream.

A romance scams usually starts with a fake profile on an online dating site or social network and the scammer pretends to be someone they’re not by using a fake name, photos, etc. The scammer will build a fake relationship with you over a short period of time and often professes their love for you early on. Just as the ‘relationship’ is getting ‘serious’, your new bae will have a financial emergency such as a health issue or wants to visit you in person and needs you to send money. After you’ve sent the money, they’ll continue to ask for more… and more… or they’ll stop communicating with you altogether.  

Don’t let love blind you and use these tips to protect your money and your heart. 

  • Look at the photo – does it look real? Many scammers use photos from the web for their profiles.  Check to see if the photo is real, not stolen, by doing a reverse image lookup 
  • If the person can never video chat or keeps finding excuses not to meet up, it’s probably because they aren’t who they say they are. This is called “catfishing”. 
  • Never… ever… under any circumstances send them money for any reason, especially if you have never met them in person.  

Congradulations! Your our sweapstakes winner! 

Phishing is a common type of fraud that often comes in the form of a prize, threats such as your bank account being locked and you must take immediate action to open it, or a refund due to an overpayment on your account. Scammers will use a variety of channels including phone & text, email and fake websites.    

Don’t take the bait and follow these tips to recognize when you’re being phished: 

  • Most scam emails and texts contain spelling errors, bad grammar or altered logos. At first glance, it may look real, but upon further inspection something may be wrong like the sub-heading above. Did you notice the spelling errors in our heading or did you have to scroll back up for a second glance? 
  • Check the link before clicking on it by holding your cursor over link to display the full URL. If it looks suspicious, it probably is. Instead, contact the company directly or visit its website to confirm if any actions are required from you. 
  • Beware of urgent or threatening language. Causing a sense of urgency or fear is a common phishing tactic in order to draw an impulsive decision from you. 

No one cares that your first cat’s name was Fluffy 

 Raise your hand if you’ve seen a quiz or survey filled out by one of your friends pop up in your social media feed. Now raise your hand again if you’ve ever done one of these quizzes or surveys and shared with your followers.  

I’m also guilty.

With social media, we’re seeing more than ever people sharing information about themselves online.  Yes, it may be fun to reminisce on your past and share all the things you love such as the name of your first pet or the make of your first car, but you know who also loves this information… scammers! 

Sharing this info can be a goldmine for hackers and fraudsters as it helps them build their knowledge of information about you even more. A lot of the time, we also choose security questions for our different accounts related to the answers of these questions, putting us at further risk of being hacked.  This also allows fraudsters to build a profile around you so that they can confidently walk into a bank and pretend to be you. 

Reduce the risk and stop oversharing information about yourself on social media as well as: 

  • Choose security questions and answers that can’t easily be guessed. Your mother’s maiden name may be an easy one for you to remember, but it’s also an easy one for fraudsters to google. 
  • Don’t share photos of your personal and financial information such as your driver’s license or new credit card.
  • If going away on vacation, don’t share details on social media before you go or while you’re there. Doing so is equivalent to saying “I’m not home right now, please feel free to come break in and steal my stuff, especially the new TV I just posted on Instagram.”
  • Make your accounts and posts private so that only those you know and trust can see what you’re up to. Don’t be afraid to prune the friend-tree every once and a while. If you don’t know what someone has been up to in a while, you also have no idea if their account has been hacked.

The sophistication of fraudsters is increasing and as organizations raise the bar on security, fraudsters up their tactics to try and trick us into giving them information and our money. For more information about protecting yourself from fraud and to learn about different scams out there, visit https://www.canada.ca/en/services/finance/fraud.html 


Ever fallen victim to a fraudster or know someone who has? Comment below with how they tricked you to save someone else!

The Gift Of Goals & How To Reach Them

Tis’ the season for spending.  If it’s not school textbooks and parking passes, then it’s hockey fees and new skates for the kids. If you’re like me, you’ve already caught the holiday fever and you’re shopping for gifts and baking supplies. Among all this spending on others during this time of year there is one person we forget to include – ourselves. It’s important to make sure we are giving ourselves the gift of time and effort by setting up some of our own financial goals.


Make a List. Check it Twice.

Setting financial goals and how you plan to achieve them is an essential part of financial literacy. But how do you get started?

The easiest way to get started is by making a list. This study on goal setting found that we are 42% more likely to achieve our goals when we write them down. Don’t let bad hand writing stop you, writing down your goals can come in many forms; write in a notebook, type it into the notes section on your phone or save a spreadsheet. Don’t be afraid to get creative! What works well for me is to attach sticky notes on the fridge beside my grocery list. I find that with the amount of times I open the fridge, I’m constantly being reminded of my financial goals and it really helps when you are taking inventory of what you need to buy for groceries.

Your financial goals and how you plan to attack them are unique to you, so why wouldn’t the way you write them down be?  If all it takes to get some motivation to increase your chances of achieving your goals is by writing down a list then that is ink put to good use!

I’m also a big list person and to show you how serious I am about them,  I am going to give you some tips I’ve learned for setting financial goals in, you guessed it – a list!

Try These Tips!

Create SMART goals:

Setting goals that are specific, measurable, achievable, relevant and timely gives you a sense of direction, helps you organize and track your progress.

Set ‘sub goals’:

Achieving a long term goal can seem overwhelming when you look at it as a whole. Break it down by setting smaller goals that contribute to the long term. Achieving these help you see the progress you are making and keep up the motivation to continue working towards the larger goal. We all know there are times we need a little extra motivation so it’s important to acknowledge and celebrate achieving the smaller goals along the way.

Share your goals:

Sharing is caring right? By telling a friend or a family member our goals helps motivate us and holds us accountable. I might be slightly more competitive than the average person, but telling others makes me want to do anything not to fail, not only for myself but for them too. The same study referenced above showed that over 70% of participants who shared their progress on their goals with a friend actually accomplished or made significant steps toward accomplishing their goals. Bring on the goal gossip!

Speak to a financial advisor:

When in doubt, speak to someone who helps set financial goals for a living – a financial advisor. They are able to provide advice and different solutions you may have never thought of. They will also be a cheerleader in your corner and hold you accountable in your progress.

Check and cheer:

Make sure you monitor your progress, keep an eye on your current status and be open to adapting as your needs change. When you do reach that goal (big or small) – CELEBRATE! You’ve put a lot of time, preparation and thought into getting yourself into a better position financially so celebrate that feeling when you’ve saved enough for a hot vacation and can still afford groceries! For me, one of the best feelings I’ve had was when I was finally able to put a down payment on my house while leaving enough budget to furnish the place. Trust me – it’s worth it!


Now that you have the tools you need it’s up to you to get started! There is no better time than now to give yourself the gift of financial goal setting, especially during the high spend season!

In the spirit of sharing, we want to hear what tips have worked for you with your financial goal setting? Help the rest of us out!

How Take-Out Almost Took Out My Budget

With so many options for ordering meals via delivery, it’s becoming increasingly hard to resist the convenience of take-out and maintaining the discipline to stick to your meal prepping schedule. Let’s look at a real-life example of how creating and sticking to a budget can save your bank account from landing in the trash with your leftover to-go containers. 


Step One is Admitting the Problem

Hello, my name is Mason and I’m a recovering take-out-aholic.

I used to eat out an embarrassing amount. If I were to get married tomorrow, my Uber Eats driver would be the best man at my wedding. Okay, maybe not – but for a couple of years, unless I had access to a free meal, I was likely getting food delivered to my home or picking it up at lunch time. It’s a dangerous habit that I would justify by saying “I’m saving so much time not having to worry about buying groceries, cooking and doing the dishes after”. The number one question I would get was “How do you even afford this?” Good question. Back then, I had a tenant that was basically paying for my mortgage payments and as a single guy who doesn’t really travel or shop a ton (exciting life hey?), this seemed manageable at the time.

One blessed day, my addiction hit rock bottom. Let’s just say that you’ve never really experienced shame until you’ve had the same Skip the Dishes driver twice in the same day. This was the epiphany I needed to take a hard look at how much I was spending per meal and think about all of the other places where that money could be allocated. The problem was that I didn’t even know how much money I was letting drain from my bank account. I was blindly swiping my card two-three times a day without any idea of the impact this would have on my monthly expenses. So where do you even begin to get things under control? It all starts with a budget.

Basic Budgeting Facts

We throw the term “budget” around quite loosely as a noun and a verb, but budgeting is simply taking the time to identify how much money your household can afford to save each month. In essence, it is the process of mapping out whether you have enough income to cover your monthly expenses and how you plan on allocating the remaining money left over. For you, it may mean making sure you have enough to pay for your kids’ piano lessons or education. For me, it means making sure I can afford to pay for a cable bill to support my fantasy football obsession. 

According to this study, just over 60% of Canadians use a budget, though, 32% of Canadians said their income does not always cover their living expenses and 13% said they’ve borrowed to make ends meet. I was one of the 40% who did not use a budget and was not tracking where my money was being spent without any guidelines around where my money should be going. I did a little bit of digging and this same study broke down recommended percentages of spending:

Recommended percentages of spending:

  • Housing – 30-40%
  • Transportation – 10-20% 
  • Living Expenses – 20-30% 
  • Debt Repayment – 10-20% 
  • Savings – 10%+ 

After tracking a month of my spending, I realized that my percentages were all out of whack. Outside of paying a small amount towards pension, the entire recommended 10% of Savings were inflating my Living Expenses and I was up to 60% thanks to my dependence on delivery. I knew something had to change and after a few months of being really intentional in my spending and eating habits, I shrunk my monthly spending on meals by over 40% and $600! Here’s some tips I learned along the way:

Weekly Meal Prepping Pays Off

Part of the reason I was eating out so much was to save myself from the time it takes to buy the groceries, prepare the meal and then do the dishes. It can also be expensive to cook for one person (check out our Cost of Being Single blog) because of grocery sizes and a lot of recipes are for more than one person. One of the best purchases I ever made was an Instant Pot that allows me to create easy recipes with large portions in a short amount of time. This allows me to do all of my meal prepping on Sunday and I don’t have to spend any time during the week preparing or cleaning up after meals. Think about it: if you are spending $20 on a portion where you can get 3-4 meals out of it instead of spending $20 on one take-out meal, you are saving up to $60! No wonder my living expenses were so high!

Ask For The Receipt

I get it. When the cashier asked “Do you need a receipt?” it’s so much easier to say “No thanks” and watch them crumple it up on your way out the door. I’ve learned that holding onto the receipt and making sure it’s added to your budget spreadsheet not only holds you accountable to your spending, but also saves you in the long run. Tracking your spending throughout the month and comparing it to your budget will help show you where you’re on track, may be under budget and where you may need to refrain from spending due to almost reaching your budget. When your mind tries to trick you into ordering out on a Sunday night, you’ll have the budget numbers to rationalize staying on budget.

If you have a significant other that you share expenses with, be sure to create your budget together. This ensures you’re on the same page when it comes to the money you’re generating and spending. It’s not a bad thing to have the other person holding you accountable either! 

Leave Room for Buffer, Not Guilt

If you are dramatically changing your habits, it’s not going to happen over night. Whether you have a busy week or a night where you need to recharge, you may have no choice but to order delivery. Leave a buffer in your budget for those unexpected expenses to make sure you have a realistic picture of how much you’ll spend in a month and so you aren’t feeling guilty that your saving progress has all been lost. 

You know what the say, “Old habits die hard” and it’s true. However, it’s hard not to be motivated when a budget shows you just how much money you are saving. Sometimes all it takes to make a major life change is to just start with a budget.


Do you have any tips to keep your budget numbers low?! Share them below!

Condo or condon’t? Is condo living right for you?

Purchasing a house is a huge decision and choosing the type of home you buy adds a whole other layer. Let’s break down all things condos so that you can make sure you think about all the options because after all, you’re the one who will have to live with it – or in this case, in it.


Are you currently considering purchasing a home for the first time? Or are you possibly looking to downsize from a house to a condo? Before making a purchase, especially one as big as a house, it’s important to weigh all the pros and cons. As a current condo owner for the past three years, I’ve started a list of things to consider to help you decide if condo life is right for your lifestyle.

Condo Pros

Condo living comes with a lot of pros – here are some that I would consider positive:

  • Low Maintenance – Condos usually come with snow removal and landscaping built into condo fees.
  • Affordability – Condos tend to be lower in price and newer, so you get more bang for your buck.
  • Amenities – If you get lucky, your condo could have access to some extra amenities, such as a pool, fitness centre, clubhouse, meeting space, BBQ, underground parking, gated community park, etc. These extra amenities could also help you save money on other expenses, like no gym membership or sharing a BBQ.
  • Less Hidden Costs – What you see is what you get with a condo. There are usually no extra costs when it comes to shingle repair, deck, landscaping, etc.
  • Location, Location, Location – Many condos are located close to downtown or commercial developments so you’re usually within walking distance to city attractions.
  • Size – Bigger doesn’t have to be better, especially when it comes to cleaning a big house or buying furniture to fill it. Depending on the condo, they usually give you a good size designed for comfortable living for families while allowing space for storage.
  • Utility Savings – Sometimes utility costs are built into your condo fees which means you share utility costs with your fellow tenants. This can be a blessing or a curse (depending if you have neighbours who love to take 45 minute showers), but by sharing utility costs – you avoid having to pay setup and maintenance fees. You also don’t have to worry about paying multiple bills during the month.
  • Board Experience – Each condo building typically has a Condo Board that makes decisions for your facility like the use of your reserve fund and any increases/decreases to your condo fees. If you are looking to gain Board experience, this is a great place to start while also having a say in what happens in your neighborhood.

Condo Cons

Here are some of the cons that come with condo living that I would suggest you consider before committing to a condo:

  • Close Quarters – You’re usually sharing walls with neighbours resulting in loud distributions and lack of privacy. I used to live beside a neighbour who had a dog that really missed them when they got home from their nightly shift work at 4:00 a.m.
  • Difficulty Re-Selling – Depending on the market, a condo can generally take longer to sell since condo living is not for everyone, market saturation or too many condos are on the re-sale market.
  • Lack of Back Yard – One luxury I wish I had access to would be a bigger back yard. I do have something (and by “something” I mean a strip of shared grass), but it is tough to entertain during the summer when you don’t have access to a large lawn or privacy from your neighbours.
  • Rules – Condos tend to have set rules that vary per condo like “quiet time”, no pets, renovation restrictions, no smoking, etc. unlike living in a stand along home where you are generally free to do what you want to do.
  • Condo Fees – As mentioned in the pros, condos come with condo fees that go towards the building upkeep, shared utilities such as hydro, electric, grounds keeping and a reserve fund for emergencies (although this could be considered a positive – yay for savings!). The older your condo building is, the higher your condo fees can be as there is generally an uptick in the amount of upkeep needed for the building.

When purchasing a home, I highly recommend making a good ol’ fashioned pro and con list for each separate property because it’s highly unlikely you will find a home that has absolutely everything and a list will help weigh your options so you can find out what you can live with and what you can’t live without.


Do you or have you lived in a condo and have any pros and cons to consider? Comment below!