4 thoughts on “How I Increased My Return On Savings In 3 Easy Steps”

  1. Dear Jason,

    I keep ~$10,000 for emergency/expenses in my daily chequing account with 0% interest. It’s tied to my brokerage account so very convenient. I don’t really have any other cash (except a bit in each of my brokerage accounts, I buy more stocks every few months).

    However, we are in the process of selling our house (and renting) and I’d like to keep all/a large portion in “cash” so your post comes at a great time.

    I’m in Canada so the banks are different but I’ve been looking at credit unions as well as the big banks. I also want to make sure that I spread out the money as $100,000 (per banking institution) is protected by the Canada Deposit Insurance Corporation (CDIC).

    Congrats on finding extra money!

    Besos Sarah.

    1. Good luck with the sale of your home! I definitely agree that it makes sense to spread the money out across a few banks so that it’s under the CDIC limit. I heard a story today about somebody who had money in an uninsured bank that went bankrupt. Ouch. In the US, the FDIC backs up deposits to $250K per institution.

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