Latest news with #TonyTintinalli
Winnipeg Free Press
5 days ago
- Winnipeg Free Press
Cheap, simple, last minute
Opinion If you're the average summering Canuck, chances are you're passing on America for your summer vacation. A new survey suggests a majority are holidaying in-country this year. The BMO Real Financial Progress Index found 62 per cent of respondents plan to vacation in Canada this summer. No doubt many are avoiding the U.S. tiffed at its current administration's stance toward Canada. Recent Statistic Canada numbers reveal border crossing to the U.S. were down more than a third year over year in June by automobile and more than 20 per cent by plane. Travel Manitoba In-country vacations are popular with Canadians, who are crossing the border into the U.S. less and less these days. Just because fewer of us are venturing south of the border, however, doesn't mean we're cutting back on holidaying with the survey finding respondents plan to spend on average $3,825. A little less than half scrimped on spending to save for summer, with about a third dipping into long-term savings. 'Many are just deciding that with the Canadian dollar … it's just more expensive to go to another country than just to stay in Canada,' says Tony Tintinalli, head of specialized sales at BMO. 'But they also understand that taking the break is important, and some are dipping into savings or have reduced spending earlier to have money for a summer holiday.' Yet what if you're among the slight majority who haven't saved and now with mid-summer upon us, a vacation increasingly seems like a financial impossibility? As the BMO survey shows, you're in good company, with three-quarters of respondents stating inflation has harmed their ability to afford just about everything, including vacations. That average spend of nearly $4,000 for a summer vacation is a big number, especially if you're grappling with higher mortgage payments and rolling credit card balances, says Mark Kalinowski, education specialist with Credit Counselling Society in Calgary. 'Summers can be really hard because you're likely taking the time off and maybe you're not even getting paid.' Then, there's child care and summer camps. To that end, BMO's poll found 61 per cent of parents aren't dolling out dollars for either. Kalinowski is familiar with tight budgets. He works with families who often struggle to afford groceries, let alone a summer vacation. He also has insight having grown up in a low-income household with many siblings. Summer vacations were unaffordable mostly. In turn, staycations were the family's jam, featuring frequent picnics in the park. 'The point is that summer fun with your family doesn't have to cost a lot of money,' he adds. Rather it's a state of mind. It's about spending time with the family rather than spending money on them. Hopefully, the result is having fun and building lasting memories, Kalinowski says. Camping is another option — though not everyone has the required gear, he adds. Some companies like offer complete rental packages, starting at a little more than $400 for a family of four for one week. If even that sounds steep, former debt counsellor Christi Posner, based in Winnipeg, has some tips. Now a fintech industry consultant, she has done plenty of 'reflecting on what makes a vacation feel like a break — and how to do that without blowing up' the budget for her own family. Although overnight and day trips inevitably cost money, they're still doable on a tight budget. After all, where there is a will, there is likely a way. Among the money generating strategies is decluttering your house of unwanted items and having a yard sale. Another potential cash source is rewards points, she adds. The BMO Index notes more than half of respondents are using rewards for their vacation this summer among other expenses. 'Don't overlook how helpful AI can be,' says Posner, whose work involves developing AI tools for financial literacy. 'Use it to compare flying versus driving costs or build a weekend itinerary around free events and cheap eats.' Just be careful when scouring for cheap, last-minute tickets for attractions, says a cybersecurity specialist. Chief security evangelist at ESET Tony Anscombe, based in the United Kingdom, says social media often lists fake, short-term rentals that seem like great, last-minute deals. 'Scammers will take pictures of an unrelated property and create a fake listing,' he says. They often note having a recent cancellation on Airbnb and that they have posted the property on Facebook, for example, at a low price for a last-minute booking. 'Typically they ask for payment through a strange means — like a wire transfer,' he adds. Monday Mornings The latest local business news and a lookahead to the coming week. Don't let desperation lead you to being duped out of money you fought so hard to find in the first place. Then again, a little desperation is understandable and even OK. It can be a motivating, creative force to your benefit, Posner says. 'You don't need to be rich to afford a summer vacation — you just need to be creative, intentional and true to your financial limits.' Joel Schlesinger is a Winnipeg-based freelance journalist joelschles@
Hamilton Spectator
30-05-2025
- Business
- Hamilton Spectator
Ontario home prices are dropping. So why aren't millennials buying?
As Canadians wait for the next interest rate announcement by the Bank of Canada on June 4 , a recent survey paints a gloomy outlook for millennial homebuyers. The Bank of Montreal (BMO) Real Financial Progress Index released earlier this month suggests two-thirds of millennials (66 per cent) believe they've already missed their home-buying moment. While the Bank of Canada's overnight lending rate has decreased from 5 per cent to 2.75 per cent over the past year, many prospective homebuyers who were once waiting for a rate drop are taking a wait-and-see approach amid economic uncertainty, the BMO study suggests. While we're not there yet, a recent report by Deloitte Canada suggests Canada's economy could fall into a recession by July 1 . Economic uncertainty appears to be stifling would-be homebuyers, despite lower house prices. The Canadian Real Estate Association forecasts a 4.2 per cent drop in Ontario home prices for 2025, compared to last year. Tony Tintinalli, BMO head of specialized sales, said homebuyers appear to be taking a pause. 'Canadians are feeling very concerned about where things are in the economy right now and that's spilled over into the housing market,' said Tintinalli. Tintinalli, who manages all BMO mortgage specialists and financial planners across Canada, said buyers remain concerned about entering the housing market due to rising prices over the past four years. While the market has cooled in many parts of Ontario, Tintinalli notes house prices have still increased substantially since 2021. 'We are seeing in certain parts of the country softening of home prices and I think right now is certainly a buyer's market, but a lot of buyers and a lot of first-time homebuyers are sitting on the sidelines right now,' Tintinalli added. Ontario residents working in the automotive, steel and aluminum sectors may be especially hesitant to purchase a home, despite a more favourable market, due to potential job losses, Tintinalli added. Tintinalli insists millennial homebuyers could still realize the dream of home ownership by using financial tools to weather the economic storm. Tintinalli recommends a financial health check. Prospective homebuyers should meet with a financial planner or adviser to map out a savings plan, track assets and liabilities and analyze cash flow to determine whether you're saving enough to buy a home. Homebuyers can also leverage tools like accelerator savings accounts. Saving six months' worth of living expenses in case of an emergency is ideal, but that would be a challenge for many Canadians, Tintinalli acknowledged. But anyone thinking about buying a home should complete a detailed budget and financial checkup, to help determine whether you're making the right decisions. If you have debt, including credit card debt, it's important to pay down the debt with the highest interest, Tintinalli added. As more variable rate mortgages come up for renewal, Tintinalli noted borrowers may have opportunities to refinance debt at a lower rate and streamline some expenses on a monthly basis. Tintinalli advises first-time homebuyers to leverage their savings options from a tax perspective, to save for a down payment. 'There are two vehicles,' said Tintinalli. 'Number 1 is putting money into your RRSP, and then the First Home Savings Account (FHSA), which allows first-time homebuyers to contribute up to $8,000 a year up to $40,000 as a tax advantage to them.' The FHSA is a registered plan which allows buyers to save to buy or build a qualifying first home tax-free, up to certain limits. Tintinalli also recommends homeowners meet with a mortgage specialist to determine how much of a mortgage they can take on before starting their house hunt. 'It allows you to be really prepared when you begin the home-buying journey,' he said. In the May 27 speech from the throne read by King Charles III, the Liberal government reaffirmed its intention to cut the GST on homes at or under $1 million for the first time homebuyers. The measure is aimed to deliver savings of up to $50,000.
Cision Canada
07-05-2025
- Health
- Cision Canada
Our Healthbox Launches at Dixon Hall, Democratizing Access to Healthcare with Support from CANFAR and BMO
Innovative "smart" vending machine developed by St. Michael's researcher dispenses free HIV self-testing kits, harm reduction, sexual health supplies TORONTO, May 7, 2025 /CNW/ - Toronto's first Our Healthbox has officially launched at Dixon Hall (65 Dundas Street East), with support from BMO and the Canadian Foundation for AIDS Research (CANFAR). Driven by a shared view that everyone deserves the right to what they need for their health, this new Our Healthbox will provide free access to HIV self-tests, naloxone kits, harm reduction supplies, and sexual health products. Developed by Dr. Sean B. Rourke, Director of REACH Nexus at the MAP Centre for Urban Health Solutions at St. Michael's Hospital (Unity Health Toronto), these cutting-edge machines feature interactive touchscreens mounted on commercially available vending machines—transforming them into Our Healthbox units. Healthboxes provide low-barrier, cost-free access to HIV self-test kits—empowering individuals to "know their status"—as well as potentially life-saving naloxone kits to reverse opioid overdoses. They also offer wellness products (such as menstrual and hygiene items, or seasonal essentials like hats and gloves), and harm reduction supplies tailored to the specific needs of each community. Each machine also includes vital health information and a service directory to help users connect with local healthcare services and supports. Our Healthbox will play a critical role in supporting Dixon Hall, a multi-service agency that serves over 10,000 people each year—making a meaningful impact in the lives of some of the most vulnerable and at-risk members of downtown Toronto's East Side community. By providing anonymous access to health supplies, these machines eliminate common barriers to care—ensuring individuals can get what they need, when they need it. The launch at Dixon Hall, along with a recent installation at St. Boniface Hospital in Winnipeg, have been generously supported by BMO and CANFAR. BMO's support for the Our Healthbox program is a reflection of its Purpose, to Boldly Grow the Good in business and life. "BMO is committed to driving progress for healthcare in the communities we serve by supporting initiatives like Our Healthbox," said Tony Tintinalli, Head, Specialized Sales, Canadian Personal Banking, BMO. "Increased access to essential healthcare supplies leads to stronger and healthier communities, to support a thriving economy." Our Healthbox is more than a vending machine—it's a healthcare intervention. By offering vital health items in accessible locations, the initiative aims to break down barriers and significantly improve health outcomes, especially in communities with limited access to traditional healthcare. Andy Pringle, Chair of CANFAR, said the launch of a Healthbox at Dixon Hall reinforces CANFAR's commitment to health equity and improving outcomes for marginalized populations. "CANFAR is proud and excited to be a part of the launch of Our Healthbox at Dixon Hall. With this initiative, we are helping to make vital resources available to everyone—like HIV self-test kits—no matter someone's circumstances. Our Healthbox will help normalize conversations around sexual health and reduce stigma in our communities," said Pringle. First introduced in 2023, Our Healthbox has expanded nationwide. Thirteen machines are currently serving families and communities across Alberta, Manitoba, Ontario, and New Brunswick. Additional units are planned for Newfoundland, Nova Scotia, and the Northwest Territories. " Our Healthbox is a huge step forward in ensuring our community members have what they need to protect their health," said Mina Mawani, CEO of Dixon Hall. "It's about giving people control over their well-being in a way that's easy and accessible." Dixon Hall provides support to at-risk youth, seniors, individuals living with physical and mental health challenges, those experiencing housing insecurity, job seekers, and newcomers to Canada. As a frontline agency, it plays a critical role in addressing Toronto's—and Ontario's—growing homelessness crisis. Across the province, more than 80,000 people are currently experiencing homelessness—a 25% increase since 2022, according to the Association of Ontario Municipalities. Dr. Rourke emphasized that this initiative helps people who may be excluded from traditional healthcare due to stigma or systemic barriers. "This is about more than just providing supplies—it's about restoring dignity and trust in healthcare," said Dr. Rourke. "Too many people are left behind because of stigma, discrimination, or simply because services aren't available where they live. Our Healthbox is a response to that. By placing these smart, community-centered machines in underserved areas, we're removing barriers and meeting people where they are—offering the tools they need to take charge of their health, on their own terms." Beyond convenience, Our Healthbox units are equipped with real-time data analytics that monitor usage patterns to ensure product availability and inform rapid, evidence-based public health responses. To date, the machines have been visited over 118,000 times, distributing more than 48,000 health and harm reduction supplies—including over 2,100 naloxone kits. As the program continues to expand, its impact will only grow. Our Healthbox represents the future of accessible, community-driven healthcare—where innovative solutions meet people where they are and give them the tools they need to thrive. In addition to BMO's support, Our Healthbox is generously funded by The Canadian Institutes of Health Research (CIHR); Public Health Agency of Canada (PHAC); TD Canada Trust, St. Michael's Foundation, The Jackman Foundation, Power To Give Foundation. Our Healthbox launches in Atlantic Canada are funded by Even the Odds, a partnership between Staples Canada and MAP Centre for Urban Health Solutions. For more information about Our Healthbox and to find a location near you, please visit About REACH Nexus at MAP Centre for Urban Health Solutions REACH Nexus is an ambitious national research group working on how to address HIV, Hepatitis C, and other sexually transmitted and blood-borne infections (STBBIs) in Canada. REACH is a part of MAP, located at St. Michael's Hospital in Toronto – Canada's largest research centre focused on health equity and the social determinants of health. REACH Nexus is focused is on reaching the undiagnosed, implementing and scaling up new testing options, strengthening connections to care, improving access to options for prevention (PrEP and PEP) and ending stigma. We work in collaboration and partnership with people living with HIV, community-based organizations, front-line service agencies, healthcare providers, public health agencies, researchers, industry partners, and federal, provincial and regional policymakers. About CANFAR The Canadian Foundation for AIDS Research (CANFAR) is Canada's leading independent voice for the fight against HIV/AIDS. CANFAR is committed to supporting research, education, and community outreach programs that address the prevention, treatment, and stigma surrounding HIV/AIDS. BMO Gives. Good grows here. Helping communities thrive by supporting the organizations that sustain them and encouraging employee giving and volunteerism is at the heart of BMO's Purpose, to Boldly Grow the Good in business and life. In 2024, we directed more than $108 million to drive progress for communities, which included $101 million in philanthropic contributions to hundreds of charities and nonprofit organizations across North America. Our colleagues spent over 54,000 hours volunteering in the community and contributed more than $39 million of donations through employee-driven giving in our annual campaigns.
