About the Book

The Beginners Guide to Saving and Investing for Canadians is intended to be a start to finish overview of the topics of saving and investing.

In creating this book we took a different approach than most savings and investing books. First, the book is specifically targetted at beginners. No complex terminology, the book is intended to get you pointed in the right direction, to understand what it is you should be doing, and get you started on the path of doing further research. As such, much of the book is devoted to explaining topics that are often misunderstood or confused by consumers. In addition, the information is provided in a succinct, short format so that you’re not overwhelmed with options that only serve to distract. We’ve distilled the information you need to know down into a 100 pages, start to finish.

Secondly rather than having the topics written by a generalist, each chapter has been written by an online blogger or authority on that specific subject. Rather than having someone who’s familiar with budgeting also write about insurance and dividend investing, the budgeting expert wrote the chapter on budgeting, the dividend investing expert wrote the chapter on dividend investing, and the insurance expert wrote the chapter on insurance.

  1. Chapter 1: Making a Budget Before we can start saving and investing the very first thing me have to do is get a handle on our income. Controlling our income through budgeting is how we’re going to tackle our debt (and reduce our stress levels) as well as find the additional money we need to start securing our future. Chapter 1 takes us through the steps needed to begin budgeting, paying down our debt, and freeing up that income for savings. We’ll see how budgeting doesn’t mean giving up things, it simply means monitoring and knowing where you’re spending your money. Having control of your finances as the result of budgeting is one of the most liberating experiences we can have with our finances.
  2. Chapter 2: Where to Save Your Money With the money now available for investing, we turn to ‘where’ to invest. This chapter shows us our various options such as RRSP’s, RESP’s, pensions and mutual funds. If you’ve ever wondered what the difference is between an RRSP and a mutual fund, this chapter will clear up your confusion.
  3. Chapter 3: Investing Wisely Chapter 3 introduces us to the concept of passive investing and gives us the information we need to get started setting up our own investments. Passive investing is favoured by academics and consumer advocates as it’s not only easy to understand but it also produces better long term returns than most other alternatives. If you’re looking for a roadmap on where and how to invest your retirement and long term savings, this is the chapter to get you started.
  4. Chapter 4: Dividend Investing In this next investing chapter we learn about selecting investments that are intended to generate an ongoing income source. This style of investing has favourable tax treatment in Canada and is useful for those seeking an income from their investments.
  5. Chapter 5: Buying the Right Insurance The final chapter shows us how to protect our savings, investments, and income. Treating insurance as a financial decision removes the sales hype and allows to actually understand what our options are and make educated decisions.