There are plenty of bank savings account options in Canada! Stay on top of the best plans right here.
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For older Canadians afraid of having their savings wiped out in a market downturn, segregated funds could be an effective option, writes Gordon Pape..... More »
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…