Although it is essential to plan for the future, it’s also important to make sure you can cover the here and now — no matter what. Create an emergency fund that will pay your rent and daily expenses for a few months, just in case.

An easy way to do this is with an automatic transfer from your chequing account into a savings account or Tax-Free Savings Account (TFSA). Start with just $2 a day and you won’t even notice it’s gone.