Agriculture and natural resources are the main sources of the economy. Four forest reserves can be found within the rural municipal boundaries. These include the Sandilands, Agassiz, Whiteshell and North West Angle. The land types vary from gravel/sand to peat forest and farmland. Spaghum moss is mined in Hadashville and North Julius.

Reynolds Elementary School in Prawda offers Grades K-6, while Grades 7 - 12 are offered at the Whitemouth School.

The municipality boasts one of the lowest municipal tax rates in all of Manitoba and is attractive to new businesses as there is no business tax. The Rural Municipality of Reynolds is constantly working towards the fostering of new businesses and investment.

You can take part in camping and canoeing along the Whitemouth River, Birch River and Boggy River. Sandiland's Forest Reserve Museum will allow you to appreciate the natural beauty in the Rural Municipality of Reynolds. Cross country skiing and hiking trails can be found in the forest reserve where you can appreciate all the wonders of nature. The Reynolds Trout Ponds will provide the nature lover with a great catch! In Rennie, the Gateway to the Whiteshell, you will find one of the most scenic views of Canada geese and many other species of birds. At the Alfred Hole Goose Sanctuary, you can see the resting and feeding grounds of the geese. Stop at Geppetto's gift shop or Birch River Arts & Crafts gift shop, along the TransCanada Highway, if you're looking for something special. Midwinter School in East Braintree, built in 1917, has been restored and designated as a Heritage Site.

In January, the Prawda Poker Derby takes place along a 32 mile groomed snowmobile trail. A pancake breakfast, bingo, hot meals and dancing take place in the evening. The Annual Picnic in Ste. Rita and the Hadashville Strawberry Festival are events that happen in July that adults and children alike can enjoy. Prawda and Hadashville host annual Fall Suppers where food is home-cooked, delicious and plentiful.