Be money $mart! A few very effective money management tips

Tip 1. Get involved with Crypto with low risks. Earn 10% interest. 

Most banks are charging a monthly fee for a checking account. Take Canadian Scotiabank as an example, a basic checking account charges $3.95 per month if you do not keep a daily $3000 balance.   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 CAD to TrueCAD via  Even with a flex-term, you will get a 6% interest rate, can withdraw at any time.  How much do you need to get back the $3.95 monthly fee? The calculation is simple (they do not compound,  earnings will not earn interest unless you put it in crypto earn):


So you only need to deposit $1007 and can withdraw at any time (allow up to 2 business days to process or transfer to visa card to spend immediately in real-time!).  So you only need about 1/3 of the $3000 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 0.00245901639 TrueCAD crypto coin. Similar to bitcoin, the amount is displayed up to the 8th 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 flex-term deposit to around 2015 so that you will not only get back your $3.95 monthly fee but also get paid $3.95+, monthly. 

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

Tip 2Earn $50+ now and 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 which 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 $50 CAD bonus!  Warning: make sure to check the Tangerine website to see if there are promotions that exceed this $50 bonus. If so, do not use the above code and link!

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!

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

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

Open a Tangerine account with my Orange Key 34742194S1 and get a $50 CAD bonus! Check the current promotions, 10% cashback.

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, go green as much as you can. Use a laptop instead of a desktop, use a phone instead of a laptop/tablet, will save a bit of electricity. Use 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, grow some food at 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, benefits only a few rich people. We need to make good use of our land, built more apartments instead of single houses. Our cities cannot expand forever so that from one part of the city to the other part of the city, people have to take a spaceship and fly for a few years (sorry, allow me exaggerating a bit)...

Last modified: Wednesday, 13 October 2021, 9:56 AM