No matter your situation, there’s always something on the horizon that you’ll need to save for. Maybe it’s a house, a car, tuition, a wedding, retirement, or even that vacation to Italy you’ve always dreamed of. Bigger purchases can seem impossible and it’s easy to fall into the mindset of “I’ll never be able to save for __insert item here__.

The good news? It’s so easy to start with these 5 easy steps.

1- Add up your take home income

Look at what comes into your account each month after tax. Your take home income will be the baseline of your budget.

2- Add up your monthly expenses (be realistic!)

Figure out what you spend in a month on “needs.” These are things you absolutely need to pay for every month (rent, utilities, basic groceries, car insurance, gas, etc) or else there would be consequences.

Next, look at how much you’re spending on “wants.” These are things that you usually do for fun like eating out, new clothes, entertainment, etc. We hate to be the bearer of bad news, but this is the area that it can be easy to spend too much in.

3- Adjust your budget

Take your income and subtract your needs and wants. From here you’ll be left over with your “savings.” If you’re finding you don’t have any money left over, you’ll need to revaluate some of your “wants.” Be honest with yourself, odds are there are some things in there you can compromise or cut back on a little bit.

4- Meet with an advisor

Once you’re comfortable with an amount you can save each month, book a meeting with a financial specialist. Your Interior Savings’ Account Manager will be able to ensure that you’re putting your money into the account that will benefit you the most and ensure you’re getting the best return. Depending on what you’re saving for and when you’ll need your money will dictate whether your money gets invested into a TFSA or an RRSP.

5- Watch it grow

This is the easy part… Sit back, relax, and watch the dollar amount on that account increase over time! It’s important to remember that saving anything is better than nothing, don’t stress about what dollar amount you are able to put away.  We’ve all impulse bought that over-priced piece of clothing or technology that we told ourselves we absolutely had to have… only to have it sit in the back of your closet and never be touched. Our favourite part about saving? You’ll never regret it!


Remember, it doesn’t matter where you start, what your account balance is, or what your goals are. We’re here to help you on your financial journey and ensure that it heads in the right direction, wherever that direction may be!

Ready to get started? Book an appointment with a Financial Health Coach HERE.