Save money and find the best financial products

For many people who wish to do better with their finances, it’s an eternal question – and it may seem like you’ve heard it all before…

Should you, "Pay yourself first," by putting money into your savings account automatically with every paycheque?

What about the "50/30/20 budget rule," where 50% of your after-tax income is put towards your needs, 30% towards your wants, and 20% towards saving or paying down debt?

Maybe go with the "30-day rule" where you defer all impulse buying for 30 days and if at the end of that period, you still want a particular item, you give yourself permission to buy it. However, if you decide that the item wasn’t worth it, you take the money you would’ve spent on it and put it into savings.

Take the first step

The truth is, there’s no single hard and fast rule or strategy for saving money. You can use them all or create your own.

What matters is you do what fits your circumstances and aligns with your financial goals.

At moneyGenius, we’re committed to helping you find out for yourself what those goals are and then help you accomplish them through informative tips and thorough deep dives on those big and small financial topics that deserve a closer look.

So, how can YOU save money?

• Maybe compare the best cell phone plans,
• Or what about saving money on your credit cards?

These are just 3 of the literally hundreds of ways to start your money-saving journey.

Helping people stretch their dollars is what we love to do ‒ and the best time to start saving is now.

After all, what have you got to lose?

Right now. The amount of money you need for a comfortable retirement can feel monumental – unless you start learning how to save money early enough. So no matter how old you are right now, start making a plan to put a little bit towards your retirement every month. You can build this up into more complicated investment plans later. For now, start small and start soon.

The best ways to save money in Canada mostly boil down to planning ahead.

Writing down that shopping list before heading out can help you avoid even the most delicious temptations. Comparing your price options online before buying from your go-to store can get you the same item for much cheaper. And finding the right credit card for your spending habits can exponentially increase your annual rewards.

Plan ahead, and you'll have a whole lot more money to plan with.

moneyGenius (formerly HowToSaveMoney) is the product of over 12 years of publishing detailed financial guides for Canadians. We publish our financial product reviews and how to save money guides because financial knowledge should be accessible so you can save money without cutting back on what you love.

Every product we review for the Money Awards is compared against similar products on the Canadian market. To do so, we first break the product down into its core attributes (including fees, perks, and more) then give each a score out of 5 stars. Those scores are then averaged together to become the final Genius Rating.

GeniusCash is your extra cash back boost paid out via PayPal or Interac e-Transfer. Every time you apply ‒ and are approved ‒ for select financial products through the moneyGenius or creditcardGenius offers page, you should automatically earn up to $250 cash.