Everyone loves having a little more money in their bank account. Plus, in an economy that can feel topsy-turvy, learning how to save money in Canada and make the most of money-savings tips can make a big difference in how you feel about your financial security.<\/p>
Whether you\u2019re saving for a rainy day, a vacation, a house deposit or just to make ends meet, there are dozens of things you can do each day to grow your bank balance.<\/p>
From saving on gas, groceries and utilities to cutting back everyday expenses, let\u2019s look at the many ways (45 ways, to be specific) that you can save money in Canada.<\/p>
The best way to save money in Canada is to open a high-interest savings account. These online accounts pay a high rate of interest on every dollar you deposit, and they use the power of compound interest to help your balance grow faster.<\/p>
Once you\u2019ve opened your account, you can set up a recurring direct deposit from your chequing account to your savings account.<\/p>
Set up the transfer to be sent when you get paid every week or two, so that a portion of your paycheque goes straight into savings\u2014putting 20% of your salary into savings each week is a good goal to aim for.<\/p>
You can make extra deposits to your savings account whenever you have some spare cash, then just sit back and watch your money grow.<\/p>
But there are plenty of other simple ways to save money in Canada. Keep reading to find out what they are.<\/p>