Welcome to the Savvy New Canadians offers 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.
Free Chequing Account
Canadians pay $200+ on average every year in bank fees.
With a free online chequing account like Simplii Financial’s, you get many of the benefits offered by big bank premium chequing accounts without paying a dime:
- Unlimited free debit transactions and bill payments
- Unlimited free Interac e-Transfers
- Free personalized cheques
- Mobile cheque deposits
- Earn interest on your chequing account balance and more.
- Owned by CIBC
Free Newcomer’s Guide To Finances in Canada
I partnered with Erica Alini, a personal finance reporter at The Globe and Mail and best-selling author, to bring you the Newcomer’s Guide to Finances in Canada. Erica was once new to this country herself, and this is the roadmap to navigating financial decisions in Canada that she wishes she’d had when she first arrived.
Her five-part newsletter course will cover what you need to know about banking, borrowing, investing, taxes, government benefits, and more. Sign up for free today.
I’m giving away my eBook titled: “A Complete Guide To Retirement Income In Canada.” Subscribe to our newsletter to get your FREE copy! As per the thousands of people who have read it, the guide is a must-read if you want to learn the basics of Canadian retirement planning.
You can also check out my other book: “A Simplified Guide on How To Buy A Home in Canada,“ and savings and budget planners at our Online Store.
Invest and Build Wealth
Investing doesn’t have to be so complicated or expensive. Digital wealth managers, aka Robo-Advisors, can help design your portfolio using low-cost index funds (ETFs) 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 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
- Transfer fee is waived (up to $150) when you transfer in your assets from other brokerages
You can also read our comparison of Canadian robo-advisors.
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 top no-commission trading platform, and you can buy thousands of stocks and ETFs for free using your self-directed brokerage account.
Best Savings Accounts
It’s no secret that interest rates on savings accounts at the big banks are meagre. 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. Here is a review of EQ Bank, or you can compare the top savings accounts.
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 everyday purchases.
1. Neo Money: This cash back app and reloadable Mastercard prepaid card pay you up to 5% cash back on debit purchases, plus interest on your balance. If you want to avoid using credit cards, KOHO rewards you anyway. You receive a $20 welcome bonus when you sign up here and fund with $50 or more. Read this Neo Money card review for more details.
2. Tangerine Credit Card: The Tangerine credit card offers up to 2% cash back on purchases and has no annual fees. It is our top choice for the best no-fee cash back card in Canada. Check it out here (includes a $100 welcome bonus), or read the review.
3. Rakuten: Use the Rakuten platform to get discounts and real cash-back when shopping at your favourite retailers in Canada (over 750 stores). Join Rakuten ($30 bonus after making your first purchase of $30 or more). You can also check out this Rakuten review.
4. Caddle: Caddle is a cash back program that helps Canadians save money while making grocery and gas purchases. Read our review.
Writing a valid Will is an essential part of your personal finance setup. If the costs of getting 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. Read this LegalWills review or create a Will and save 20% using our promo code SAVVY20.
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 get a 15% discount.