Set something aside



Marie-Christine Daignault  |  Desjardins Group

Saving is all about making small, day-to-day changes. Insignificant? Not really!

We've all heard that buying a coffee a day adds up to $800 a year. But therre are lots of examples of unnecessary expenses! That's why we suggest you take on a new challenge so you can develop new micro-habits. Without even realizing it, you can save a lot of money--and often faster than you think!

Your challenge: start (or replenish) an emergency fund.

Step 1: Calculate your monthly expenses for 3 months to determine your savings goal. As a general rule, you should set aside enough to cover 3 months of expenses.

Step 2: Create an "Emergency fund - unexpected expenses" goal in My Savings Plan or an account in the Hop'n S@ve app.

Step 3: Find ONE good opportunity to save every day. For inspiration, here's a list of the 5 most common tips for successful savings shared by our members.

Step 4: Calculate your savings every day and transfer that amount as often as possible toward your savings goal.

Step 5: Stick with it--it takes 21 days to form a new habit.

4 points to consider
The fewer monthly expenses you have, the smaller an emergency fund you'll need:
2. Limit your expenses bu acknowledging your weaknesses and avoiding impulse spending traps.
3. Choose what to spend on (sometimes painful, but it really pays off).

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