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Aditi Ganguly
Updated Jan 23, 2026
As a new year starts, it’s the perfect time to check in on your finances.
Tariffs have driven up costs for Canadians last year, hitting both households and businesses.
A few smart moves now can help you protect your wallet and enter 2026 with your finances in better shape.
CIBC Investor's Edge
Build your own investment portfolio and enjoy low commissions
Invest with confidence
Investing in the stock market can help you build a sizable nest egg for retirement and a passive dividend income stream. With CIBC Investors’ Edge, you can enjoy low commissions on trades and no or minimal account maintenance charges, depending on the size of your portfolio.
Pay no account fees for RRSPs with a balance of $25,000 or more and TFSAs with a balance of $10,000. For non-registered accounts, the platform waives maintenance fees if the account balance exceeds $10,000.
Build your portfolio with CIBC Investor’s Edge and pay just $6.95 per stock and ETF trades. Pay no fees on mutual funds — or make more than 150 trades in a quarter — and you fall under the Active Trader category, where you can enjoy a discounted commission of $4.95 per trade.
Get 100 free trades when you open a CIBC Investor’s Edge account using promo code EDGE2526. Plus, get $150 or more cash back.† Offer ends March 31, 2026.
CIBC Investor's Edge
Build your own investment portfolio and enjoy low commissions
Whether you’re five or 15 years away from retirement, Wealthsimple Invest 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.
Visit Wealthsimple via our Apply Now button for up-to-date terms and conditions.
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 into a single loan at a lower rate. This can both ease your interest costs and improve your credit score.
With a lender like Spring Financial, for instance, you can apply in just three minutes and get anywhere between $500 to $35,000 to help you pay down your high-interest debt. To qualify, you just need a valid government ID and some form of income.
Just fill in a few quick details about yourself and choose your loan amount.
A Spring Financial associate will contact you to review your application and guide you through the next steps. Once you’re approved, Spring Financial will e-transfer the funds directly into your bank account.
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.
If your debt is only a couple of thousand dollars and you want to clear it as soon as possible, consider looking into Mogo.
You can get a line of credit of up to $3,500, and the online pre-approval takes only 3 minutes. If you fill out their pre-approval form, you have no obligation to sign up for a loan, and it won't hurt your credit score.
The entire process — from pre-approval to funding — is completed online in minutes, so there’s no waiting days to be matched with a lender.
You can easily chat with specialists on the app, and you'll get alerts to remind you of your payments.
Know where your money is going
The rising cost of living in recent years has been a major cause for concern for many Canadians. According to a 2024 survey by the National Payroll Institute and Financial Wellness Lab of Canada, approximately 41% of respondents feel financially stressed.
Budgeting and tracking can help you understand where your money is going, so you can make every dollar work for you.
That’s where Monarch Money's expense tracking system comes in. The all-in-one money app seamlessly connects all your accounts in one place, giving you a clear view of where you're overspending. It also helps you monitor your expenses and payments in real time.
Whether you're looking to save, buy a car, pay off debt, or simply control your spending, Monarch Money brings together everything you need to manage your finances effectively. For a limited time, you can get 50% off your first year with the code WISE50.
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.
Diversify your portfolio
Gold has long been viewed as a potential safe-haven investment. It’s not tied to any one country, currency or economy. It can’t be printed out of thin air like fiat money, and investors tend to pile in during times of economic turmoil or geopolitical uncertainty — driving up its value.
But investing in gold isn’t just for the ultra-wealthy. With CIBC Investor’s Edge, you have the opportunity to tap into the world of precious metals without the worry of storing and protecting the actual gold bars.
CIBC Investor’s Edge offers these investments in the form of gold and silver e-certificates — no vaults, no mines — just a simple way to diversify your portfolio and grow your wealth.
CIBC Investor's Edge
Build your own investment portfolio and enjoy low commissions
Stop overpaying on bank fees
Most banks charge between $5 and $35 per month in account fees – for a total annual expense of $400 or more.
One way to dramatically cut this cost is to get an account with an online bank. With no brick-and-mortar locations driving up expenses, online banks can drop monthly account rates — typically charging $0 in account fees and offering higher interest rates.
For instance, with Simplii Financial offers a no-fee chequing account with no mininum balance required. You can make unlimited debit purchases, bill payments and withdrawals for free.
For a limited time, you can get $300 and a $50 SKIP gift card if you set up an eligible direct deposit of at least $100 for 3 straight months.
More money moves to make right now
Simplii Financial
Grow your savings faster with a high-interest account.
Qtrade
Earn 5% cash back on every dollar you invest up to $15,000.
Wealthsimple
Earn up to 2.75% interest on your cash, plus get a $25 bonus.
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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