More Canadians say they’re living paycheque to paycheque

On September 10th, CBC News posted an article with the same title.  The majority of Canadians would find it difficult to pay their bills if their paycheque were delayed by 1 week.
This is a scary statistic as it means that the majority of Canadians are without an emergency fund.  While many professionals recommend having 3 months worth of expenses saved in an emergency fund it’s important to remember that something is always better than nothing.
Take a look at our money saving tips and money management systems posts to develop a method of putting even a few dollars away each pay towards a “rainy day” emergency fund.  Having even minimal savings can mean the difference between resorting to pay day loan services and avoiding all of the fees and interest associated with them.
It’s amazing what a few money saving techniques and budgeting can yield from even the most limited income.  You can and need to start to saving and that no amount is too small to start.  Your savings will add up more quickly than you might think.  The first deposit into your savings account is always the hardest to make; you can do it!  We believe in you.