What is the best way to save money in Canada?

The best way to save money in Canada is to set money aside in a high-interest savings account. These accounts not only safely store your money, but also pay you more money in the form of interest to keep your money in the account.

What is the 30-day rule to save money?

The 30-day rule says that you should wait 30 days before deciding to make a big purchase. The idea behind the rule is that if you still want to spend the money after waiting 30 days, than the purchase is probably worth making. Following the 30-day rule can help you save money by avoiding impulse buys.

How do I save the most from my salary?

The best way to save the most from your salary is to follow the 50/30/20 rule, where 50% of your salary goes towards essential living costs, 30% goes to wants and 20% goes to savings. Even if you can't follow those percentages exactly, just try to get as close as your budget will allow. Saving even a little bit of money consistently will build up significantly over time.

Home Authors Tim Falk

Tim Falk

Writer

Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors.