The most effective way to save:
Pay yourself first

If you're like most Canadians, you have really good intentions to save whatever's left over after your expenses have been covered.

The problem is that you probably have more than enough ways to spend your paycheque, and so there's usually not much money left over. Your savings always become the last priority, so they don't grow very fast.

Take a tip from financial experts and wealthy Canadians: The secret to building your savings is to pay yourself first.

What does "pay yourself first" mean?

Paying yourself first simply means that you make it a habit to put money into your savings account first — as soon as you get paid, and before you have time to spend it on other things.

By making saving your first priority, you make sure it gets done.

How to do it

Set up a Pre-authorized Transfer Service to make it easy, and to make sure it happens.

You can make it easier by setting up Simply Save. This puts a predetermined amount into savings automatically every time you use your Access Card at the ATM or for a debit purchase. You decide how much and on which transactions.

When you put a little bit aside regularly, you're paying yourself first — and making your future your top priority.

Build your bank balance, with a simple habit that really works.