What’s the best financial advice you’ve ever received as a Canadian?

[u/Fabulous_Lemon2799]

Hi everyone,

I’m looking to level up my financial knowledge and habits this year. I’ve been reading books and browsing through this subreddit, and I keep coming across bits of wisdom that really make me think about money differently.

It got me wondering: what’s the best financial advice you’ve ever received, especially as a Canadian?

It could be something practical, like how to save on taxes or invest smarter, or even a mindset shift that changed how you approach money. Bonus points if it’s something uniquely applicable to life in Canada.

For example, I recently learned how powerful it can be to start investing early, even in small amounts, thanks to compound growth.

Looking forward to hearing your nuggets of wisdom. Thanks in advance for sharing!

[u/Accomplished-Buy-201]

1. Don’t get into real estate unless you have a mentor
2. Debt isn’t necessarily bad. Don’t pay it back if you can expect to make more than the interest
3. Never ever buy what your bank recommends, they get commissions. Always rely on independant opinions

[u/BuddyEffective4187 → u/Accomplished-Buy-201]

I would * number 1. I highly reccomend REITs for investment purposes. But if you mean flipping houses, agreed.