Budgeting | For parents | Getting Advice | Getting Married | GICs & savings bonds | Investing basics | Managing Debt | Mutual funds & ETFs | Pensions | Real Estate | RRSPs (for retirement) | Saving Money

Budgeting [ Learn more ]

Put any extra change you have in a big jar. Once a year, empty it out, roll the change and take it to the bank. You'll be amazed at how much you have saved. Learn more

Using store coupons? Try putting the money you save into a savings plan or a Canada Savings Bond each fall. The money will really add up over a year. Learn more

Finding it hard to stick to your budget? Review it at the start of each month so it's fresh in your mind. Learn more

Check flyers for sales and comparison shop online before you step into a store. Learn more

Keep a notebook or pocket organizer with you to record all your purchases. Learn more

Make sure you always know how much money is in the bank. Learn more

Here's a great way to keep your savings on track. Have your employer deposit some of your pay each month into a savings account. Or, have the bank set up a transfer from your main account to a special account for saving. Learn more

How much should you save each month? Aim for 10 per cent of your pay. Learn more

Too many impulse buys when you shop? Limit your shopping to one day a week. The less time you spend in stores, the less chance you'll have to pick up something on impulse. Learn more

Before making impulse purchases like fancy coffees and snacks, ask yourself: "Can I live without this?" More often than not, the answer is "yes". Cutting down on these kinds of expenses can save hundreds of dollars a year! Learn more

Here's an easy way to save over $500 or more a year: bring a homemade lunch to work everyday. As an added bonus, it's often easier to eat healthy when you make it yourself! Learn more

Got wedding plans? Budgeting makes it easier to save each month for your big day. Learn more

If you have lots of storage room, lower your grocery bill by buying in bulk. Learn more

Do you know where your money goes? Check your bank statements each month. Some people spend more money than they think because they don't pay attention. Learn more

Looking to save money when you shop? One online study reports people save an average of $120 a month using coupons. That could help pay for your next vacation! Learn more

Don't buy things that are on sale just because they are a good deal. Buy only if you need them. Learn more

Planning your holiday shopping?  All year long, try to put a little money away each month so you don't have to use credit cards. Then set a budget and stick to it. Shop early in the year for great sales - but keep a list to remember what you bought and for whom. Learn more

One month each year, analyze and keep track of every single expense, both big and small. It is a real eye opener. Learn more

Want to stay focused on your savings goals? Write down all of the benefits of saving and the potential costs if you do not. Review your list once a week so you remember why you are making the choice to save. Learn more

Maintain a budget - it will help you see what you are spending so you can make better choices. Learn more

Overspending? Cut up your credit cards. Pay for everything with either cash or debit card instead. Learn more

When you pay your bills each month, pay yourself too. For example, put $50 each month into a special account for savings. Once a year, use the money to treat yourself. Learn more

Are you spending more than you can really afford? Decide what you can afford to spend after your bills are paid. Take out just that amount in cash at the start of the month. Don't use your credit or debit cards unless it's an emergency. Learn more

Are you working with an old budget? Make sure you review yours often to see if it still fits your needs. Adjust it as your life changes. Learn more

Try putting a loonie in a jar every day. After a year, you'll have $365 to add to your RRSP. If you have a partner who does the same thing, you'll have $730. Learn more

Want to get into the saving habit? Pick a day each week that you transfer money to your saving account -- no matter how small the amount. Learn more

Set up an automatic withdrawal from your chequing account into a  savings account. It adds up and you won't miss the money. Learn more

Setting a budget and recording expenses helps you realize where your money should go v.s. where it is actually going. Learn more

top

For parents [ Learn more ]

Don't be shy talking about money with your family -- especially with your kids. Learn more

Want to encourage your children to save? Have them set a goal and put part of their allowances into a bank account they cannot access. Match any money they put into that account dollar for dollar. Learn more

Make saving fun for the whole family. Set up a family 'treasure chest' that everyone adds their coins to. Once a month,  roll up the coins and takes them to the bank. At the end of the year, the whole family decides what to do with the money. Learn more

top

Getting Advice [ Learn more ]

Facing a major financial decision? Consider getting advice from a qualified financial adviser. Learn more

Make sure you have both a financial plan and a budget. This will help you set clear financial goals and take the right steps to reach them. Learn more

Once a year sit down and pull together all your financial information. Take time to review your goals, your investment results and the cost of your debt. Revise your goals or change your strategy as needed. Learn more

top

Getting Married [ Learn more ]

Want to save on your wedding plans? Do as much as you can by yourself and with the help of friends. For example, make your own invitations on the computer, or your own gifts to give to your guests. Learn more

top

GICs & savings bonds [ Learn more ]

Spending too much? Put some of your pay each month into bonds or GICs for a six-month term. You won't be as tempted to spend it if the money is locked in for a time. Learn more

top

Investing basics [ Learn more ]

Investing small amounts over a long period of time really adds up. That's the power of compounding. Learn more

top

Managing Debt [ Learn more ]

Pay off your credit cards in full each month. Don't buy an item if you can't pay for it before interest charges kick in. Learn more

Having trouble keeping track of your spending? Consolidate all your spending onto one low interest rate credit card. You'll see most of your bills on one statement. Learn more

Carrying a balance on more than one credit card? Transfer all of those balances to a card with a 6-month low interest offer. Pay it off as fast as you can. With internet banking, you can pay every week instead of waiting for your monthly statement. Learn more

Carrying a balance on your credit card? Cut it up or lock it away while you pay off the debt. It's amazing how fast debt disappears if you are serious and take this approach. Learn more

Do not put off a bill till next month. You may never catch up. Learn more

Make it a habit to pay all your bills on time. Buy extras like meals out or new clothing  AFTER you've taken care of your essential costs. Learn more

Thinking of borrowing money? First consider the length of time it will take to pay it off and how much interest you will be paying for your purchase. Learn more

Do you have a rewards credit card? Here's how to make the most of it:   1) Choose a card that has no annual fee. 2) Set up your household bills for automatic payment on the card. 3) Pay off the balance every month. In a year you'll earn a substantial reward without paying a cent of interest for it. Learn more

top

Mutual funds & ETFs [ Learn more ]

Shopping for mutual funds? Compare fees before you buy. High fees can really lower your investment return. Learn more

Investing in mutual funds? Make sure you maintain a good mix of industries and types of funds -- such as index, growth, income. This will help you reduce investment risk through diversification. Learn more

top

Pensions [ Learn more ]

Does your employer offers an employee share purchase plan program? A pension plan? It may be a real plus for you to participate -- especially if your employer contributes. Learn more

Are you in the early years of your working life? Start saving for your retirement, no matter how much or how little you can afford. Join your company pension plan if you have one. The sooner you start, the more time your savings will have to grow. Learn more

top

Real Estate [ Learn more ]

Paying down your mortgage early may not be easy. But it can save you thousands of dollars in interest payments. Learn more

top

RRSPs (for retirement) [ Learn more ]

Dont' wait until February 28 to contribute to your RRSP. Set up an automatic deposit each month from your bank account. Learn more

To build savings faster, put money in your registered savings plans each month instead of once a year. Even a small amount adds up. Since you won't be used to having that money, you won't miss it. At the end of the year, "top up" your plans with as much as you can afford. Learn more

Set up a regular contribution to your retirement savings account that comes out on payday. Start with a small amount - you won't miss it, and your savings will add up! Learn more

Set up RRSP accounts for your children when they get their first summer job. You can use it as a tool to teach them about setting financial goals and investing. Learn more

top

Saving Money [ Learn more ]

Pay off debts with the highest interest rate first. Learn more

Before you buy an item, decide: is it a need or a want? Only buy what you truly need and the savings will add up! Learn more

Want to avoid debt? Pay cash for items you need. Save up for items you want. And only borrow for one major item at a time. Learn more

Owe money on a credit card? Consider setting up an automatic payment through your bank. It will help you get rid of your balance faster. Learn more

If you get paid every 2 weeks and most of your bills are monthly, you will have two extra payments each year. Don't just spend it -- use the money to reach your financial goals. Learn more

top