RESOURCES & TOOLS
Throughout the years, I’ve tried out a bunch of Canadian personal finance tools, software, and resources.
I’ve tried both paid and free tools. In my opinion, there’s nothing better than free, and I’ve included as many free tools as possible in this list.
But there are certain paid items that give you a great bang for your buck that I use on a daily basis.
Here are the tools that help me manage my money in Canada that I can’t live without, and provide the best value for the price.
High-Interest Savings Account (HISA)
If you’re depositing money at a big bank in Canada, you’re probably earning next to 0% interest.
Well, with EQ Bank you’ll be getting 1.25%/ year with its free Everyday Savings Plus Account. I use it mainly for saving for short-term purchases and my emergency savings.
It’s super easy to set up and use. You can open a free EQ Bank account here.
Free Credit Score Check
Trading Platform / Discount Broker
This is the trading platform that I’ve used to buy all my stocks and ETFs for almost a decade now. Using this discount broker, I’ve been able to construct my own portfolio at a very low cost. Because I invest heavily in ETFs, Questrade is especially great because you can purchase ETFs for free.
Get $50 in free trades when you open an account with Questrade here.
If you have children or dependents, term life insurance should be an important part of your financial plan. As a former life insurance broker, I’ve seen life insurance help families in their time of crisis.
With life insurance, low cost is key, so check out prices from low-cost online providers like PolicyMe.
Robo-Advisor (Top 2 in Canada)
Prepaid Cashback Visa
If you’re a spreadsheet nerd like me, check out this Excel budgeting tool from Squawkfox. I use it to track all my expenses and net worth, and yes, it is free!
File Taxes For Free
The best free tax software I’ve found was SimpleTax, which is now owned by Wealthsimple. It provides you with free CRA approved software to do your taxes. If you’re feeling charitable, you can give them a donation after they complete your taxes, but it’s not required.