💰 Your Monthly Income
📋 Your Monthly Expenses
📊 Budget Breakdown vs. 50/30/20 Targets
📋 Monthly Budget Summary
🎯 Personalized Recommendations
🚀 What Your Savings Could Become
If you invest your monthly savings at a 7% average annual return in your TFSA or RRSP:
💡 Budgeting Tips for Canadians
🏦 Pay Yourself First
Set up automatic transfers to your TFSA and RRSP on payday — before you spend anything. If the money never sits in your chequing account, you won't miss it. This is the most powerful savings habit.
🇨🇦 Canadian Needs Are Higher
Canada's high housing costs, especially in Toronto and Vancouver, often push "needs" above 50%. If that's you, aim to keep wants at 20% and savings at 10% rather than abandoning the framework entirely.
📊 Track for One Month First
Before budgeting, track every dollar for 30 days using your bank's app or a spreadsheet. Most Canadians are shocked by how much they spend on dining out and subscriptions. Awareness comes before change.
🚨 3–6 Month Emergency Fund First
Before investing, build a cash emergency fund of 3–6 months of expenses in a TFSA high-interest savings account. This prevents you from going into debt when life happens — car repair, job loss, medical costs.