1. Put your money in bank stocks instead of their respective savings account

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vs 

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Investing $1000 into RBC would get you a 4.04% annual return vs their saving accounts that average 0.55% annual return. As an investor you would also benefit from the banks growth since big banks present low risk as they have over 100s of years of growth history behind them and have shown to continuously increase their dividends.

Usually rising bank fees would be a negative change but as an investor it means that the company you have shares in will be making more money, and therefore your dividend yield would usually go up too. Instead of buying from a big bank, you become a part of it.


2. Never invest if you have debt

Your debt would be charging you a much higher interest than the return on any investment. A stock or mutual fund could give you 4% dividend but a credit card will charge you 19.99% interest.

In this case you would actually keep more money by paying off your debt than investing while having debt.

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3. Use Credit Cards With Cash Back Vs Points

This sound like a common sense thing to do but you would be surprised how many choose Scene points (Scene Visa with Scotiabank) for free movies or Tim Points (Tim Hortons Visa with CIBC) for discounts at Tim Hortons vs real cash that can be used anywhere.

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For every 1000 points (Also equals $1000)  you receive a free movie (Value $11.99), this is a return rate of 1.19% that can ONLY be redeemed for a movie.

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Tim Hortons Visa allows you to redeem 1% cash back that can ONLY be redeemed at Tim Hortons, which lowers the value of the return.

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Receiving the 1.19 % (Scene Visa) or the 1% (Tim Hortons Visa) in cash would allow you to use the return anywhere you’d like including the movies or Tim Hortons.

CIBC presents great deals on cash back credit cards starting at 1% Cash Back. If you know most of your purchases are done on your credit cards it would be best to pay the extra $99 for the visa that offers double the cash back interest than the free visa, which will allow you to make your money back and more.

Otherwise you can go with the free cash back visa and receive 2% cash back on your groceries spendings and 1% back on everything else. This is cash you can use anywhere! Just remember to pay off your balance within the grace period (21-28 days depending on your agreement) so you don’t get charged interest.


 

4. Use A Price Comparison Website Before Buying Electronics

When we think of electronics we think of Best Buy and a lot of times that is where we go right away. Take advantage of Canada’s top price comparison website www.kiwinano.ca and see first hand which retailer is selling your item for less, or simply go to Best Buy and price match after checking out the lowest priced retailer on Kiwinano. Best Buy beats competitor prices buy 10% of the difference so Kiwinano can make sure you always pay the lowest price anywhere you price match.

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Always know who is selling your electronics for less. 

Compare all the top Canadian retailers all on one page.

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You can search for you item or browse the different departments. Create an account and add your favourite electronics to your Wishlist and receive notifications when the prices drop.

Great tool and you can’t go wrong with price comparing. Best part is all your favourite retailers are all one one site.


5. Cancel Your Cable And Stream Your Tv.

There are many great ways to stream shows and movies today. Of course the most popular one is Netflix however there is also Cravetv.com (Only $7.99/Month), Hoopla (Free with a library card), and streaming boxes. Save $80 per month and stream your favourite shows on your TV.

It will reduce your monthly expenses and leave you with more money for the fun stuff in life.

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3 great streaming options to save money on your cable. Netflix ($9.99), CraveTv ($7.99), and Hoopla (Free with a library card).

Streaming boxes also allow you to stream anything you’d like on your TV. You only have to pay once for the box and it’s yours for all the free streaming you want.

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You can find these streaming devices on eBay.ca, Amazon.ca, AliExpress.com, and many more with a simple Google search for a streaming boxes.


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www.kiwinano.ca – #1 price comparison website in Canada

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