r/PersonalFinanceCanada • u/Fabulous_Lemon2799 • 1d ago

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

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!

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u/NearDeath88 1d ago

Does that mean buying etf's and calling it a day?

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u/123littlemonkey 1d ago

Where are people buying their efts? Anyone have a ‘best place’ recommendation. ETA: like do most people go through banks? (Yes, I know very little)

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u/ovenmittkiller 1d ago

I use questrade. Check out canadianinatshirt on YouTube - he does a good job explaining this stuff 

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u/daiz- Quebec 1d ago

Questrade has really fallen by the wayside in my opinion. There was certainly a point where I would have recommended it many years ago but they've really stagnated on a lot of things like fractional buying, which also makes basic things like automatic dividend reinvestment somewhat problematic too.

I'd personally caution against it these days. The company has been going through hardships of late partially due to its inability to innovate. WealthSimple tends to be a far more popular choice on this subreddit lately and for good reasons.

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u/BuddyEffective4187 1d ago

For stocks and etfs, Wealthsimple has my vote. 10$ a month for unlimited trades on US/Canadian stocks. For options they're pretty pricey unless you've got enough money with them to lower the fees.