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Aditi Ganguly
Updated Mar 23, 2026
Between fluctuating trade policies and the steady climb of living costs, your budget is likely feeling the squeeze.
Strengthening your finances isn't about a total overhaul. It’s about making smart, incremental changes. By tackling high-interest debt and optimizing your savings now, you can protect your bank account from market volatility and keep your nest egg growing.
Here are six essential money moves to get you started.
Consolidate your debt and repay it faster
Paying down your debt is one of the smartest financial decisions you can make. If you have massive credit card debt or recently took on a big expense, like car repairs, chances are you will be on the hook for quite some time and will have to pay a substantial amount in interest.
A better option is to consolidate your debt by taking out a single loan at a lower rate. This can both ease your interest costs and improve your credit score.
With Loans Canada, you can shop for the most competitive interest rates on personal and debt consolidation loans, since Loans Canada specializes in comparing rates offered by different lenders.
You don’t need a minimum credit score or annual income to receive personalized loan offers.
If you owe a substantial amount, you may also want to see if you qualify for a debt relief program to clear a significant portion of your debt.
You can get a free consultation with a debt relief expert who can work with you to help clear your debts and rehabilitate your credit with a plan tailored to your needs.
Earn more with a high-interest savings account
A high interest savings account can help you grow your savings faster. It often pays to shop around because some banks offer special interest rates for new customers.
For example, open a personal account with EQ Bank and in just a few minutes you get access to the best features of a chequing account combined with a high-interest savings rate.
When you fund your account and set up a direct deposit, you can earn 2.75% on every dollar deposited into the account.
The account has $0 monthly fees and no minimum balances. Plus, you can withdraw from any ATM in Canada — for free.
Many banks offer you a high promotional rate that expires after a short period, typically after 90 days. Neo Financial takes the opposite approach: they reward you for staying committed to your goals.
With the Neo Savings account, your money works harder as your balance grows.
Unlock a very competitive 3% interest rate¹ once your combined balance hits $20,000. But even before you reach that milestone, you’ll earn a solid 2.25% right out of the gate. You can even open a joint account to combine balances to earn the higher rate.
With no monthly fees to eat into your earnings and with your deposits eligible for CDIC protection, it’s an account designed to help you reach your next financial milestone faster, not just provide a temporary perk.
Invest with confidence
Whether you’re five or 15 years away from retirement, Wealthsimple Portfolios makes it easy to build a nest egg that can help reduce your reliance on government benefits later on.
Their pre-built portfolios are tailored to your retirement goals, risk tolerance and investment horizon, so whether you’re planning for a comfortable early retirement or steady growth over the long term, there’s a portfolio designed for you.
You can automate your contributions inside an RRSP or TFSA and let Wealthsimple handle the heavy lifting: managing risk, rebalancing your portfolio and reinvesting dividends.
Trusted by more than 3 million Canadians, Wealthsimple manages over $100 billion in assets and provides $1 million in eligible coverage through the CDIC for chequing accounts and CIPF for investments. Plus, as licensed fiduciaries, Wealthsimple's advisors must put your financial interests first.
It’s a simple, low-fee way to stay invested without constantly watching the markets. And when you open your first account and deposit at least $1 within 30 days, you’ll get a $25 bonus.
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.
If you prefer choosing your own stocks, ETFs or options, paying premium fees for limited control doesn’t make much sense.
A self-directed account with Questrade puts you firmly in the driver’s seat, with transparent, low-cost pricing built for investors who want to make their own calls.
That means $0 commissions when you buy or sell Canadian or U.S.-listed stocks and ETFs online. If options are part of your strategy, there’s no ticket charge, just 99¢ per contract.
As a Money.ca reader, you can also get $50 cash back when you open a self-directed account with as little as $250.
Save while you shop
Stop settling for low cashback rates on the things that cost you the most. The Neo World Elite® Mastercard is built to maximize your rewards at the grocery store, at the gas pump, and on those monthly recurring payments, putting serious cash back in your pocket, instantly.
To qualify for this premium card, you’ll need a minimum personal income of $80,000, or $150,000 for your household. Once approved, you’ll earn a massive 5% back on groceries, 4% on recurring payments, 3% on gas, and 1% on everything else.*
Beyond the high cashback rates, you’ll enjoy premium perks like comprehensive travel insurance and airport lounge access. It’s a powerful tool for anyone looking to get the maximum possible value out of their daily spending.
Avoid surprise costs
If you have a pet, you know the costs can add up fast: food, grooming, toys and especially vet visits.
According to the Ontario Veterinary Medical Association, routine veterinary care for a dog can cost between $4,100 and $5,200 per year. And this doesn’t account for expensive emergencies.
That’s why paying for pet insurance often ends up being more affordable than paying out of pocket for surprise vet bills.
Instead of absorbing big, unexpected bills all at once, Petsecure² helps cover up to 80% of eligible vet bills, including taxes and exam fees.
Petsecure also offers four tiered plans depending on what you actually need — from essential coverage to unlimited accident and condition protection, plus dental and optional wellness care.
Sign up today and you can get 10% off your first year of pet insurance.
- Cashback earn subject to monthly spend limit. When monthly spend limit is reached, subsequent spending earns 1%. Spend limit resets monthly. For more information, visit the Neo app.
More money moves to make right now
Homewise
Negotiates with 30+ lenders to get you the best mortgage rate.
Questrade
Get $50 cash back when you open a self-directed account with $250.
Wealthsimple
Earn up to 2.75% interest on your cash, plus get a $25 bonus.
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Earnings for the Neo Savings account, a Neo Cash account, are derived from the interest Neo earns on the funds. Earnings are calculated daily on the total closing balance and paid monthly. Rates are per annum. Minimum combined balance required to earn boosted rates. The minimum combined balance required to qualify and the corresponding rates are subject to change without notice. For more details see this page.
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The views and information shared in this article are based on my personal experiences and general understanding. The author is not a licensed insurance agent, broker, or advisor, and nothing in this piece should be interpreted as insurance advice or a recommendation.
Aditi Ganguly
Staff Writer
Aditi is an experienced content developer and financial writer who is passionate about helping investors understand the dos and don'ts of investing. She has a keen interest in the stock market and has a fundamental approach when analyzing equities.
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