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What to Do with Your Tax Refund: 5 Smart Moves for Canadians

  Tax Season · Personal Finance By MoneySavings.ca Editorial Team • May 7, 2026 • 7 min read Tax season is wrapping up across Canada, and for millions of Canadians, that means a refund cheque — or a direct deposit — is on its way. The average Canadian tax refund hovers around $1,800. That's real money. The question is: what's the smartest thing you can do with it? It's tempting to treat a tax refund like "found money" and splurge. But here's the truth — that refund was your money all along. The government was just holding it for you, interest-free. So before it quietly disappears into day-to-day spending, let's look at five moves that will make it work harder for you. $1,800 The average Canadian tax refund — enough to make a meaningful dent in debt, pad an emergency fund, or kick-start your TFSA for the year. 1 Pay Down High-Interest Debt First If you're carrying a balance on a credit card, this should be your very first call. Most Canadian credit car...
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"The best way to predict the future is to create it " by Abraham Lincoln.

This is a famous quote attributed to Abraham Lincoln, the 16th president of the United States, who led the country through the Civil War and abolished slavery. The quote suggests that we have the power to shape our own destiny by taking action and making things happen, rather than waiting for them to happen or relying on fate. It also implies that we can learn from the past and use it as a guide for the future, but not as a limitation.

This quote is very inspiring and motivating, especially for entrepreneurs, innovators, and leaders who want to make a positive impact on the world. It encourages us to be proactive, creative, and visionary, and to overcome challenges and obstacles with courage and determination. It also reminds us that we are responsible for our own choices and actions, and that we can make a difference by being the change we want to see.


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