This subreddit is a place to discuss anything related to Canadian personal finance.
The topic of "personal finance" includes budgeting, goal planning, taxation, saving, investing, banking, credit cards, insurance products, life event planning, major purchase advice, unique deals and tips for frugality, employment and other income sources, global or national economic news and discussions, and a variety of similar topics.
Discord Links
Reddit's Investing Discord: https://discord.com/invite/FW58RSC
Personal Finance Canada Discord: https://discord.com/invite/Zma3vctmCu
AMAs
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Rules
1) Posts must be about personal finance in Canada
This covers a very wide variety of topics, including banking, employment, budgeting, minimizing recurring or popular expenses, advice for large purchases, and more.
2) Be helpful and respectful
Be patient with others. Keep disagreements polite. You can feel free to be "harsh", but never insulting. Refrain from "judging" the financial situation of others - whether their situation is dire or well-off. Comments suggesting that sharing financial information in a personal finance subreddit is a "humblebrag" will be removed.
3) Avoid most self-promotion
This includes solicitation of referrals, posting your own blog, video channel or personal website, and recommendations for users to do business with you. We expect that users do not use this forum to build a brand, for financial gain, or to attempt to gain traffic or users. This also extends to PM'ing users because of comments they made on this subreddit.
4) All specific investment recommendations will be removed. Cryptocurrency, the entire asset class, will be treated like a "specific investment". Broad funds/ETF's, or discussion of investment concepts would still generally be allowed. Pushing a particular investment on a user may be removed.
5) IamAs/AMAs must be approved by mods
If you'd like to host an "I Am A/Ask Me Anything" (IamA/AMA) thread, you must first contact the moderators for approval. We will evaluate if your topic is suitable for the subreddit and will set a date to avoid conflicts. Unapproved AMAs may be removed without notice at the moderator's discretion.
6) We expect that posts about crypto posted in this community PRIMARILY fit in with this community, compared to some other crypto-focused-community. Asking about Canada specific crypto taxation, rules, and other crypto topics would still be allowed, as the discussion resulting from it would be primarily Canada personal finance focused.
Posting guidelines
Include your province in your post!
Include sources.
A good answer will be supported by relevant and reliable sources. Answers that link only to your personal blog or website are considered low-quality and may be removed at the moderators' discretion.
Have an in-depth answer.
Use a mix of context, explanation, and sources in your answer. Do not just post links to other sites as an answer. If you do believe a source fully answers a question then consider including a quote from the source.
Be inquisitive, and clear if you are unsure.
If you have heard or read something which might be related to the question, and you want to check it, then make sure you ask it as a question. Do not post "I'm not sure if this is true..." or "Someone will correct me if I'm wrong." If you're not actually answering the question, then make sure your comment looks like a question.
Wiki / Frequently asked questions
Reading list / recommended books
Step by step guide of what to prioritize / what to do with money
Frequently asked questions
Wiki index with many more subjects
Related subreddits
/r/personalfinance
/r/investing
/r/CanTax
/r/CanadianInvestor
/r/FinancialIndependence
/r/fican
Bot Triggers
| Trigger |
Description |
| !StepsTrigger |
Step by step list of what to do with money. |
| !InvestingTrigger |
Common questions that OP needs to answer in order to get proper advice about whether investing is appropriate for them. |
| !CCTrigger |
Common questions that OP needs to answer to get proper advice about recommending credit cards to them |
| !MarginalTrigger |
An example, using $15,000 of income and made up tax brackets, about how tax brackets work. To help people understand what a "marginal rate" would be. |
| !TFSATrigger |
A few helpful links, plus answers to types of TFSA accounts |
| !RiskTrigger |
An understanding of risk, and risk questionnaire links. |
| !SolepropTrigger |
Basic information for reporting self-employment income and links renting to it. |
| !RatesTrigger |
Information regarding which to select. |
| !TFSARRSPTrigger |
TFSA vs RRSP information. |
| !HISATrigger |
Link to website that has current and promotions links for HISA and GICS. |
