Tip 1. Get involved with Crypto with low risks. Earn interest. 

Most banks are charging a monthly fee for a checking account.  For example, a basic checking account usually charges $3.95 per month if you do not keep a minimum daily balance of at least a few thousand (keeps increasing).   Do you still want an account like this?  I would suggest you can still get such an account if you do not want to use an online-only bank.

There is a solution: Convert your fiat currency to USDC via crypto.com.   A 3-month term will give you more interest than most banks do, currently 4.5%.


So you only need to deposit $1071 to break even with the $3.95 bank fee (After the 3-month term ends, allow up to 2 business days to process or transfer to crypto.com visa card to spend immediately in real-time!).  So you only need about 1/4 of the $4000 required daily minimum balance to get back the monthly fee. Then what will happen to the rest: 


This is not a joke, but this tiny amount is not lost! You may leave it as $0.00040983607 crypto coin. Similar to bitcoin, the amount is displayed up to the 8th (16th digits, in some cases) digit after the decimal point (whatever after that 8th digit, we probably don't need to care about).

Of course, you would probably want to double your deposit so that you will not only get back your $3.95 monthly fee but also get paid $3.95+, monthly. 

For more information on crypto.com and the risks of using it, you may visit the following link:


Note that some companies offer higher interest rates on stablecoins, but the risks are high, for example, the crashed UST-Luna (in June 2022, most people lost most of their initial investment, and the interests that they got is almost equal to 0, after the Luna crash). So we would suggest only considering USDC, TrueUSD, TrueCAD, and so on, the true stablecoins.

Tip 2Earn an opening bonus and then earn interest for every penny you have got, with no taxes!

Tangerine (now a subsidiary of Scotiabank, formerly called ING Direct) offers a good interest rate for TFSA (Tax-Free Savings Account in Canada).  The current promotional interest rate is 1.4%, tax-free. If you live in Canada, good news! Your Canadian dollar will earn interest while possibly appreciating in value against the US dollar!

Tangerine offers a no-fee checking account that also pays you interest! This means that you earn interest for every penny you have got (of course, insured by the Canada Deposit Insurance Corporation (CDIC))!

Open a Tangerine account with my Orange Key 34742194S1 and get a bonus!   

Tip 3. Mutual fund (balance of stocks and bonds) - invest for your retirement, minimize risks and achieve long-term growth.

Tip 4. RRSP is also an option no matter how young you are as long as you are 18+

Tip 5. Stock, FOREX (foreign currency), and Crypto trading - Learn before making any big investment.

Remember, it is a hard job to do. You must learn and practice first, even if you buy a trading bot, you still have a lot to learn and the risks are high.

Tip 6. Use a no-fee credit card with cashback options!

Open a Tangerine account with my Orange Key 34742194S1 and get a bonus! Check the current promotions also.

Tip 7. Avoid greediness! Use extreme caution when doing high-risk trading! Always place a stop-loss order as soon as possible!

Tip 8. Keep all your foreign bank accounts, if possible! Know your bank fees, withdraw fees, and ...

You may want to split your assets among a few banks to lower your risks.

Tip 9.   Live like a poor person, always!

Save your utility, and go green as much as you can. Using a laptop instead of a desktop, or use a phone instead of a laptop/tablet, will save a bit of electricity. Using daylight as much as possible. Drive at optimal speed, avoid acceleration/deceleration as much as you can save you gas. Use solar, wind electricity generator if possible. Make good use of rain/snow water, and grow some food in your backyard. Avoid living in large houses, buy a duplex or even apartments, instead of a single house. Why am I against the single house? It wastes land! The price keeps hiking, which hurts many people, and benefits only a few rich people. We need to make good use of our land, and built more apartments instead of single houses. Our cities cannot expand forever...

Last modified: Friday, 19 August 2022, 3:55 PM