There are plenty of bank savings account options in Canada! Stay on top of the best plans right here.
Latest News
Personal Income Tax Guide: The deadline for filing your 2021 return, tax brackets and more + MORE Dec 12th
The year 2021 has been a year about money, from the latest crypto to inflation to housing prices to taxes. While money trends can go up and down—or up and up for certain matters—taxes can be more predictable, if you’re prepared. This year’s MoneySense income tax guide includes the things you.... More »
Audit-proof your side hustle + MORE Nov 29th
If you have joined the ranks of the self-employed, you’re in good company: According to Statistics Canada, 2.9 million Canadians run their own business. That’s 15% of the population, and the number is growing. Don’t forget, though, that with your new status comes a new relationship with the Ca.... More »
Tax due dates, credits and more: Your 2024 income tax return guide + MORE Mar 4th
Doing your own taxes? Prepping your documents for a tax professional? Either way, welcome to the MoneySense guide for personal income taxes, your information hub for filing your 2024 return (bookmark it now). We will be updating it frequently, as information becomes available and deadlines approach..... More »
“How can I lower my auto insurance bill during COVID-19 lockdown?” + MORE May 2nd
On April 8, 2020, the Insurance Bureau of Canada released the following statement:
To help Canadians cope with the financial impact of COVID-19, the Insurance Bureau of Canada (IBC) member companies are offering substantial consumer relief measures. For consumers whose driving habits have changed si.... More »
How to use your credit card responsibly Jun 4th
Credit cards are a part of everyday life. They’re a convenient and safe way to pay for your purchases, and they often come with perks and benefits. Plus, when you use a credit card responsibly, you can build up your credit score, which can help you access loans, mortgages or other types of credit.... More »
How to Start an Emergency Fund When You’re Living Paycheque to Paycheque
– ratesupermarket.ca
When you’re living paycheque to paycheque and every dollar counts, it’s hard to imagine how to save any significant amount of money. The good news is, you can build up an emergency fund even while living paycheque to paycheque. The best news of all is once you’ve built up some savings everything else will get a bit easier as well. An emergency expense won’t “break the bank” and you won’t have to worry about making the rent or being late on bills.
How can I start a savings account if I have no money left over shortly after I’m paid?
You’ll find financial advice that says, “Pay yourself first before you pay anything else.” It may seem almost impossible, but this is the only way you can get started to build up an emergency fund.
Before you’re paid the next time, decide ahead of time how much money you’ll pay yourself and immediately put it into your new emergency savings account. It doesn’t have to be a large sum of money…
