How Young Canadians Use Their Tax Money

May 4, 2026, 20:07
CanadaFinance

Introduction

Many Canadians get money back from the government every year. Young people now save this money more than before.

Main Body

More people want to save their money. Last year, 29% of Canadians saved their tax money. Now, 47% save it. Young people save the most. 63% of young people save their money now. Young people also buy stocks. They do not use old bank accounts. They want to make more money for the future. Houses are very expensive now. Young people cannot buy homes. Because of this, they put their money in the stock market instead. Some people use the money to pay debts. Other people use it to buy food and clothes. Many young people need this money to live.

Conclusion

Canadians save more and spend less. They do this because houses cost too much and life is expensive.

Learning

💡 The 'More' Pattern

In this text, we see a simple way to show change. Look at these two sentences:

  • "Young people now save this money more than before."
  • "Canadians save more and spend less."

How to use it: Use More →\rightarrow when something increases. Use Less →\rightarrow when something decreases.

Real-life examples for A2:

  • I drink more water now.
  • I eat less sugar than before.
  • The city is more expensive than the village.

🔑 Useful Action Words

These words help you talk about money and life:

  • Save →\rightarrow keep money for later.
  • Spend →\rightarrow give money to buy things.
  • Pay →\rightarrow give money for a bill or debt.
  • Buy →\rightarrow get something with money.

Vocabulary Learning

save (v.)
to keep money for future use
Example:I save money for a new bicycle.
buy (v.)
to purchase something with money
Example:She will buy a new shirt tomorrow.
money (n.)
currency used to buy goods
Example:He has a lot of money in his wallet.
government (n.)
the group that runs a country
Example:The government collects taxes from citizens.
year (n.)
twelve months of time
Example:It will take one year to finish the project.
young (adj.)
not old; in the early stages of life
Example:The young children play in the park.
people (n.)
human beings
Example:Many people attended the concert.
tax (n.)
money paid to the government
Example:You must pay tax on your salary.
stocks (n.)
shares of a company that can be bought and sold
Example:She invested in stocks to grow her wealth.
future (n.)
time that is yet to come
Example:We plan for the future of our children.
houses (n.)
buildings where people live
Example:The new houses are built on the hill.
expensive (adj.)
costing a lot of money
Example:That car is very expensive.