There’s a reason why the saying ‘a penny saved is a penny earned has been around a long time’ – it’s true. Saving money can feel like hard work. But there’s no mystery to it. From getting started with a budgeting to setting goals and paying yourself first, here’s what you need to know.

1. Create a budget

Question number one is to get a handle on how much you’re bringing in and how much is going out before you can decide how much you should be hanging on to. Get all your bill stubs ready for this exercise – and be sure to include what you spend on your morning coffee run, and all the other little incidentals. The Investor Education Fund has an easy worksheet you can download.  Read More…


  1. Although i am only 19 its the idea that i might end up like my dad and in deep financial trouble. I have vowed to never get to that point and have been saving religiously.

  2. I’ve said it once before and i will say it again…everyone has a different threshold for saving. It always comes back to how you grew up.

  3. Shopping Kijiji is the best i got from this thing. Too many people forget to check Kijiji before heading to Future Shop to buy the very same thing at twice the price (and tax).

  4. I use to have a friend that had the desire to buy the most expensive things only because it made him feel good that if he had the most expensive it had to be good. It was really sad to see since it was these material things that gave him his value.

  5. One of things i do is pay my credit card balances off in full each statement. That way i get a free 30-day grace period of free interest loan. Yes the banks hate me but i’ve been doing this for 10 years now and my credit score is now through the roof.

  6. Making extra mortgage payments may not always be advised since that is conditioned under the contract and one may only be able to pay extra payments within certain windows.

  7. There are some good points but the best i think is the one that was given the least attention: Get to know your Debt.

    Most people fail to take notice of their debt until its too late and there are way too many people filing into bankruptcy because they dont take it seriously.

  8. We in the West are living way beyond our means and tend to buy more than we actually need.

    It all started with easy lines of credit.

  9. Good list of advice. thank you.

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