Good afternoon! This week's stories all come down to the same thing: money that's either about to cost you or owed to you, and most people won't find out which until it's too late to act. A pipeline ruling could nudge gas prices before winter even sets in, a hedge fund manager is warning that the "safe" part of your portfolio might not be, and thousands of Canadians have a payout waiting that most don't know exists.
On The Money Today:
Why a paused pipeline permit could hit you at the pump before winter
What a debt-crisis warning means for the bonds sitting in your RRSP
How to check if you're owed up to $5,000 from a 2020 CRA hack
Let's dive in.
ECONOMY
Your gas prices may climb after a Michigan court voided this pipeline permit
Fresh legal risk to the Line 5 pipeline threatens fuel supply across two provinces, just as households start thinking about topping up before winter. Ontario and Quebec refineries depend on that crude to keep pumps stocked, so a prolonged fight over the permit could ripple through prices before the cold weather does, and here's what a shutdown could mean for your wallet at the pump.
IN PARTNERSHIP WITH Embark
You don't need to know your kid's career path to unlock $7,200 from the government
Opening an RESP through Embark takes less than 8 minutes, and they confirm which programs qualify — trades, nursing, culinary school and university all count — so you're not guessing. RESPs flexibly support any educational path—and almost any budget. You can start with as little as $5 to $10 a week or month, then adjust your contributions whenever your financial situation changes. Eligible families can also receive up to $2,000 per child through the Canada Learning Bond (CLB) with no contribution required. Open an account with Embark, and they'll apply for the CLB on your behalf.
There's no pressure to have your child's plans figured out either, since the account stays open for up to 35 years and your own contributions are always yours to withdraw if they choose a different path. On top of the CLB, Ottawa still matches 20% of what you contribute, worth up to $7,200 per child, and parents in BC or Quebec may qualify for provincial top-ups worth up to $1,200 more.
RETIREMENT
Your RRSP bonds could be at risk before this debt crisis hits, how to protect your retirement savings
Ray Dalio just told investors to sell bonds and buy gold ahead of a US debt crisis, recommending 10-15% gold exposure and a slice of bitcoin instead of the fixed income most portfolios lean on. Bonds are supposed to be the safe part of your RRSP or TFSA, so a warning like this from a hedge fund manager who's called past downturns is worth a second look — how to add that exposure without overhauling your whole portfolio.
MUST READ
Are you owed up to $5,000 from the CRA data breach?
Canadians hacked through their CRA or My Service Canada account back in 2020 can now file a claim, and the payout is bigger than a lot of people expect — up to $5,000 for out-of-pocket costs tied to the breach, plus separate amounts for time spent dealing with fraud or unauthorized access. The claims window closes Feb 3, 2027, so there's time to gather documentation, but no reason to wait and risk missing it.
MONEY IQ
Line 5 has been pumping oil and gas under the Great Lakes since it was built. What year did it start operating?
ALSO MAKING THE ROUNDS TODAY
NEWS: Air Canada owed just $18,000 for a $20M gold heist, and here's what that means for your lost luggage
PARENTING: What happens to an RESP if your kid never goes to university. The account has more flexibility than most parents realize, and switching plans doesn't mean losing what you've saved
NEWS: This Costco beef said 'Canadian' on the front, but the back told a different story
NEWS: RCMP charged a Calgary man in an alleged $164M Ponzi scheme, and more than 1,000 investors got caught up in it
MONEY IQ: HOW'D YOU DO?
Answer: A) 1953. The pipeline is over 70 years old, which is a big part of why Michigan keeps fighting to shut it down.
That's a wrap for today! Before you go, we'd love to know what you thought of today's newsletter. Hit REPLY if you have more to share — we read every reply.
