Good afternoon! This week's stories share one thread: what you're told you're paying isn't always what you actually pay. Sometimes the real cost is the one you don't see coming.
On The Money Today:
Why a falling loonie is costing you more without you noticing
The grocery label detail that could mean you're not getting what you paid for
The fee Canadians never agreed to that regulators are now questioning
Let's dive in.
NEWS
Canada lost 42,000 jobs and the loonie fell to 72 cents US. Here's what it means for you
A surprise drop in jobs pushed the Canadian dollar to its weakest level in months. If you pay in US dollars for travel, subscriptions, or cross-border shopping, here's what a weaker loonie costs you right now — and whether it's likely to bounce back before your next trip or bill comes due, so you're not caught off guard when it's time to pay.
IN PARTNERSHIP WITH National Bank
No fees for up to 3 years — National Bank's welcome to newcomers
Moving to a new country means rebuilding your financial life from scratch, often while you're still learning the system. Every account fee or hidden charge in those first years adds friction you don't need.
National Bank's newcomer banking package is built for exactly that stretch: no fixed monthly fees for up to 3 years, unlimited transactions, and free legal help for a year — plus up to $600 cashback if you qualify.
No fixed monthly fees for up to 3 years
Unlimited online transactions and Interac e-Transfer within Canada
Free legal assistance for 12 months
Free ABM, in-branch withdrawals, transfers and bill payments (first year)
Up to $600 cashback for eligible newcomers
NEWS
Costco shoppers thought they bought Canadian beef — the label said otherwise. How to check what you're actually buying
A Costco customer got home only to find his 'Canadian' beef was actually from the US, hiding behind a grade stamp that doesn't guarantee origin at all. If you've been paying more to buy Canadian, this mix-up shows how easy it is to get fooled at the meat counter. A few extra seconds of label-checking could be the difference between supporting local and paying a premium for nothing.
MUST READ
Bell, Rogers and Telus could face fines over these possibly illegal fees
If you've paid a device or shipping fee to switch carriers, this case is worth watching. The CRTC is investigating whether those charges from Bell, Rogers and Telus break the rules meant to keep switching free, and the companies could face penalties if it rules against them. Until then, treat any quoted switching fee as one to double-check before you commit.
MONEY IQ
Roughly how many wireless subscribers does Canada have today?
ALSO MAKING THE ROUNDS TODAY
NEWS: US funder pursues $109M from Alberta separatist leader Jeffrey Rath amid frozen assets and First Nations lawsuits
NEWS: $27.6B in Canada-U.S. retaliatory tariffs now in effect. What it means for prices, mortgages and your budget
MORTGAGES: Canadians are leaning into risky short-term mortgages for lower rates now and the CMHC warns of a costly reckoning at renewal
NEWS: Avi Lewis accuses Carney of putting corporations ahead of Canadians as 90,000 jobs face trade war risk
MONEY IQ: HOW'D YOU DO?
Answer: D — About 35 million. Canada's wireless market has grown steadily for years, and with a population of roughly 41 million, that means the vast majority of Canadians — including many who own more than one device — are connected.
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.
