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See how saving money earlier can turn your savings into earnings.

How to start saving money

A father looks over paperwork with a baby in his lap while the mother chats with an advisor.

Start your savings

Saving money is not only helpful for your future goals, like buying a home, but it can also help you handle unexpected expenses, so you can feel more financially secure.

A general guideline is to save 10% of your income. How much you save can depend on factors like what you’re saving for, constraints attached to your goal and if you want to pay off any high-interest rate debts.

Money saving tips that could really add up

  • Stick to that shopping list
    Make a shopping list to help you remember what to buy and stick to what you need to help prevent those impulse buys.
  • Buy off-brand
    When grocery shopping, look for off-brand items. Many pantry basics can be as good as brand name ones – and ring in at lower prices.
  • Have a night in
    Instead of meeting friends for dinner, consider having a get-together at your place. It will be a quieter, more intimate setting, which can be more ideal for catching up.

Tools that may help you with your saving goals

TD Compound Interest Calculator

Use the TD Compound Interest Calculator to see how your savings could grow over time.

Save Automatically to my Account

Decide how much you want to save and how often when you automatically transfer funds to your savings account. All with no setup or service fees.

Have a plan to save money

A mother and daughter share a moment in front of a tablet.
Having a savings plan can help you to save money, whether your financial goal involves saving for a vacation, a down payment on a home or your retirement. Tools like the TD Retirement Calculator can help you figure out how much you'll need to save, while other tools like the TD Compound Interest Calculator can show you how your long-term investments can grow in the future.

Remember: Spending less can also help you save more money. Even slightly cutting back on your expenses can add up and help you reach your financial goals.

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