Saving
Saving is when you set aside money to use in the future. This can be done in a savings account at a bank or credit union.
You can save money by:
- Crafting and respecting a budget
- Paying yourself first by setting aside money each month
- Investing in quality, long-lasting items instead of disposable ones
- Cutting back on unnecessary spending
- Finding ways to earn extra income
There are many ways to find extra income. Some people may get a second job, start a side hustle, or invest in passive income streams. Others may look for ways to make money from home, such as through online surveys or selling products online.
I Have Money on the Side – Now What?
Some people choose to keep their savings in a checking or savings account to cover unexpected expenses or emergencies. Others may invest their savings in stocks, bonds, or mutual funds to grow their money over time. Some people may also choose to use their savings to purchase a home or pay for their child’s education.
The benefits of saving money
Saving money means having a cushion to cover unexpected expenses, being prepared for retirement, and having money to invest. Savings also give you peace of mind and a sense of financial security.
Saving vs. Paying Off Debt
The answer to this question depends on your individual situation. If you have high-interest debt, it may be wise to focus on paying that off first. If you have a low-interest rate and are able to save money each month, you may want to do both.
Joint vs. Secondary Cardholders
Joint vs. Secondary Cardholders sounds simple until the fine print, tax rules, and bank policies collide. We explain how it works in Canada today, what to watch for at the big banks and direct players, and the practical steps that move real dollars without adding complexity. Key points Cut through marketing. Focus on total cost,
Password Managers and Banking
Password Managers and Banking sounds simple until the fine print, tax rules, and bank policies collide. We explain how it works in Canada today, what to watch for at the big banks and direct players, and the practical steps that move real dollars without adding complexity. Key points Cut through marketing. Focus on total cost,
Fraud Alerts and Credit Freezes in Canada
Fraud Alerts and Credit Freezes in Canada sounds simple until the fine print, tax rules, and bank policies collide. We explain how it works in Canada today, what to watch for at the big banks and direct players, and the practical steps that move real dollars without adding complexity. Key points Cut through marketing. Focus
Bank Drafts vs. Certified Cheques
Bank Drafts vs. Certified Cheques sounds simple until the fine print, tax rules, and bank policies collide. We explain how it works in Canada today, what to watch for at the big banks and direct players, and the practical steps that move real dollars without adding complexity. Key points Cut through marketing. Focus on total
Property Tax Accounts
Property Tax Accounts sounds simple until the fine print, tax rules, and bank policies collide. We explain how it works in Canada today, what to watch for at the big banks and direct players, and the practical steps that move real dollars without adding complexity. Key points Cut through marketing. Focus on total cost, not
How to Read a Mortgage Commitment Letter
How to Read a Mortgage Commitment Letter sounds simple until the fine print, tax rules, and bank policies collide. We explain how it works in Canada today, what to watch for at the big banks and direct players, and the practical steps that move real dollars without adding complexity. Key points Cut through marketing. Focus
