Feeling squeezed by inflation? These smart money moves can help Canadians get ahead again — even without a raise

Here are seven ideas for putting some padding in your budget, so you can show inflation who's boss.

1. Cut the cost of your debt

High-interest debt from credit cards and personal loans can be a major drain on your bank balance, especially if you’re making only the minimum payments each month.

To slash the cost of that debt, you might shop around for a debt consolidation loan. You’ll trade in all of your current balances — on credit cards, loans, everything — for a single monthly payment at a lower interest rate.

For instance, using the online portal for Loans Canada, you can apply for a personal loan in as little as 30 seconds. Depending on how much interest you’re currently paying on your debts, consolidating them could save you thousands of dollars and help you become debt-free years sooner.

2. Hunt down your long-lost money

You do know where all your money is, right?

People move on and forget all about money in old accounts all the time. It's so common that Canadians currently have more than $1.60 billion in unclaimed funds in bank balances as of December 31, 2025, according to the Bank of Canada. You can use the BoC's Unclaimed Properties website (3) to see if you have any extra cash you may not be aware of.

You should check with the Canada Revenue Agency (CRA) to see if there are any tax refunds you're missing. You can amend your previous tax returns and claim a readjustment (and refund) up to 10 calendar years after the end of the tax year (4).

3. Use technology to save when you shop online

If you do most of your shopping online — and these days, who doesn’t? — you likely go to the same website again and again. You know the one. But Amazon doesn’t always have the best prices, and nobody has time to price-check every store.

You can let technology do that work for you. You might download a free browser extension, such as Honey or Keepa, that will automatically find you deals and coupon codes every time you shop online.

You also can set price-drop alerts for your favourite products, so if they go on sale, you’ll be the first to know. Installation of the add-on takes just a moment and could save you hundreds of dollars a year.

4. Play the market with your extra cash

If you’ve never put money into the stock market, you might think owning a piece of a well-known company is out of reach.

But some discount brokerages, such as Wealthsimple and Questrade, allow investors to buy fractional shares — fractions of shares in larger, more expensive companies, such as Apple, Google or Berkshire Hathoway. Quite often you can buy pieces of companies for as little as $1 — and when they profit, so will you.

To get started, you need to open and fund an online brokerage account. Good options, for fractional share trading, include:

Wealthsimple

• Fractional shares: Yes
• Minimum investment: As little as $1
• What you can buy: Canadian and U.S. stocks, many ETFs
• Accounts: TFSA, RRSP, FHSA, non-registered
• Fees: $0 commissions on Canadian trades; FX fee on U.S. trades (unless using USD accounts on paid tiers)
• Current promotion: Get a $25 bonus when you open your first account and fund at least $1 within 30 days. For a limited time, transfer $25,000 or more into an eligible Wealthsimple account and earn up to a 3% match, plus a chance to win a $3-million home. Offer ends March 31, 2026. Visit Wealthsimple via our Apply Now button for up-to-date terms and conditions.

Questrade

• Fractional trading: Yes, but ETFs only; no fractional trades on equities
• Minimum investment: As low as $1 for eligible ETFs
• Accounts: TFSA, RRSP, FHSA, non-registered
• Fees: $0 commissions on Canadian ETF trades
• Current promotion: Get $50 cash back when you open a self-directed account with $250.

Interactive Brokers (IBKR Canada)

• Fractional trading: Yes, but mostly U.S. stocks
• Platform complexity: High
• User experience: Not beginner-friendly

5. Shrink your car insurance bills

If you've got a car and aren't shopping around for cheaper insurance every six months, you could easily be overpaying by hundreds of dollars a year.

Comparing rates from multiple insurance companies may sound like a lot of work, but some websites do the shopping around for you. You might find a better deal in just a few minutes.

For instance, YouSet is an insurance brokerage platform that allows you to browse the best auto insurance policies across multiple insurers all in one place.

You'll answer a few quick questions and be presented with the best quotes from numerous car insurers. That way, you can find the lowest price available on the coverage you currently have.

6. Stop paying too much for home insurance

Insurance loyalty doesn’t usually pay.

If you’re not comparing auto insurance quotes at least once a year, you may be overpaying — sometimes by hundreds of dollars. Online brokerages can compare policies across multiple insurers in minutes.