Welcome to the Savvy New Canadians offers and promotions page. This page is updated regularly to bring you worthwhile personal finance-related offers, promotions, and freebies in Canada. So be sure to check back regularly!
Free Credit Scores
You can now check your credit score free of charge in Canada. Sign up with Borrowell to access your free credit score and get free weekly updates. They also provide a copy of your credit report.
Invest and Build Wealth
Investing doesn’t have to be so hard or expensive. Digital wealth managers aka Robo-Advisors can help design your portfolio using low-cost index funds (ETF’s) that minimize your fees, boost your long-term returns, and are adequately diversified.
1. Wealthsimple: Wealthsimple is Canada’s premier robo-advisor. Open a Wealthsimple account and get a $75 cash bonus when you fund your account with at least $500. At Wealthsimple, they simplify your investing and offer the following:
- Nobel-prize winning investing strategies
- Automatic re-balancing
- Customized portfolio
- Dividend re-investing
- Free financial advice, and more!
If you are comfortable investing on your own and rebalancing your portfolio, you can save on investment fees by using a competitive discount brokerage platform.
2. Questrade: Questrade is the largest independent brokerage platform in Canada. You can use it to trade stocks, ETFs, options, foreign exchange, mutual funds, GICs, IPOs, and more at competitive rates.
3. Wealthsimple Trade: Wealthsimple Trade is Canada’s only no-commission trading platform and you can buy thousands of stocks and ETFs for free using your self-directed brokerage account.
Open a Wealthsimple Trade account and get a $50 cash bonus.
Can’t afford to invest a lump sum? You can still invest using a spare change investing app.
4. Moka: This app automatically rounds up your purchases and invests your spare change so you can increase your net worth hassle-free.
Best Savings Accounts
It’s no secret that interest rates on savings accounts at the big banks are ridiculously low. There are much better alternatives:
EQ Bank: Check EQ Bank for some of the most competitive high-interest rates on savings and GICs available in Canada. Sign up for high-interest savings!
Earn Cash Back When You Shop
You can earn cash-back on everyday purchases including groceries. Using the FREE apps listed below, I earn anywhere from $50 to $100 automatically each month while making our usual purchases.
1. KOHO: This free cash back app and reloadable Visa card pay you 0.50% cash back on all your debit purchases, plus a 1.20% interest on your balance when you set up a direct deposit to your account. Trying to avoid using credit cards, KOHO rewards you anyway!
2. Rakuten: Use the Rakuten platform to get discounts and real cash-back when shopping at your favourite retailers in Canada (over 700 stores). Join Rakuten ($5-$30 bonus). You can also check out this Rakuten review.
3. Drop: The Drop app rewards you automatically in cash for your everyday purchases. No effort is required on your part – simply sign up and start earning. Download Drop ($5 bonus). You can also read this Drop review.
4. Caddle: Caddle is a cash back program that helps Canadians save money while making grocery and gas purchases. Read this Caddle review for more information.
5. Swagbucks: Have spare time on your hands? You can earn cash-back when you shop or complete simple tasks such as taking surveys and more on this platform.
Writing a valid Will is an important part of your personal finance setup. If the costs of geting a lawyer-written Will has been a hindrance, you can now get a legal Will for cheap from the comfort of your home.
1. LegalWills: This platform is one of Canada’s leading online estate planning services. It offers affordable and easy access to valid estate planning documents including Last Will and Testament, Financial Power of Attorney, and Living Wills.
2. Willful: This platform guides you through the process of creating customized legal documents to protect you and your family. It also offers free lifetime updates.
Start your Will and save $20 using our promo code SAVVY20.
Best Mortgage Rates
You can save tens of thousands of dollars in mortgage interest payments over time when you use a mortgage broker to get a competitive mortgage rate.
I’m giving away two FREE eBooks titled: “A Simplified Guide on How To Buy A Home in Canada“ and “A Complete Guide To Retirement Income In Canada.” Simply subscribe to my newsletter to get your FREE copy!
Based on the consensus among my readers, these free guides are awesome!