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Canadian Money Journey

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Finish line: My money plan

Finish line · After Step 22

In one sentence

This is your one-page money plan: all 22 steps in one checklist, so you can see what you have done and what comes next.

Words to know

Money plan: a simple list of what you do with your money, and in what order.
Review: looking at your plan again, for example once a year, to see what has changed.

Step 1: Tick the Basic steps

These are the foundations. Most people start here.

☐ Step 1: Choosing your first Canadian bank account (and never paying monthly fees)
☐ Step 2: Reading your pay stub: where your money goes before you get it
☐ Step 3: Splitting your paycheque: a simple budget that works
☐ Step 4: Saving on everyday costs: the big picture
☐ Step 5: Building an emergency fund
☐ Step 6: Avoiding common money scams
☐ Step 7: Your first tax return and the benefits you can get

Step 2: Tick the Intermediate steps

These build your credit, protect you and help your savings grow safely.

☐ Step 8: Understanding your credit score
☐ Step 9: Your first credit card, used the smart way
☐ Step 10: Avoiding debt traps and paying debt off
☐ Step 11: Insurance basics: what you need and what you don’t
☐ Step 12: Buying your first car without overpaying
☐ Step 13: Safe places to grow your savings: high-interest savings and GICs
☐ Step 14: TFSA explained: the tax-free account everyone should know

Step 3: Tick the Advanced steps

These help you invest and plan for big goals far in the future.

☐ Step 15: Saving vs investing: risk, time and your goals
☐ Step 16: Investing basics: stocks, bonds, funds and fees
☐ Step 17: How to start investing: robo-advisor, DIY or bank advisor
☐ Step 18: RRSP vs TFSA: which one first?
☐ Step 19: RESP: free government money for your child’s education
☐ Step 20: Buying your first home in Canada (including the FHSA)
☐ Step 21: Retirement: the big picture
☐ Step 22: Staying steady: market drops and investment scams

Step 4: Review your plan once a year

Your life will change. You may get a new job, a raise, a partner or a child. Your plan can change too.

Pick one day each year to review, for example after you file your taxes.
Check your budget, your emergency fund and your debt.
Look at your TFSA and RRSP room on your Notice of Assessment.
Check your investment fees and your mix of investments.
Not every step fits everyone. Skip what doesn’t apply to you, like the RESP if you have no children.

Example

Suppose you have finished 9 of the 22 steps.

Steps left: 22 − 9 = 13.
If you finish 1 step a month, you will be done in about 13 months.
If you finish 2 steps a month, it takes about 13 ÷ 2 = 6.5 months, so about 7 months.

There is no race. One step at a time is a good pace.

Common mistakes

Trying to do every step in one week and feeling overwhelmed.
Skipping the Basic steps, like the emergency fund, to start investing sooner.
Making a plan once and never looking at it again.

Keep going: Topics

Want to learn more about one area? Each topic page lists its posts from basic to advanced.

✅ My checklist

☐ I ticked the steps I have already done
☐ I picked my next one or two steps
☐ I chose a day each year to review my plan
☐ I picked one topic to explore next

You have come a long way. Building money skills takes time and courage, and every step counts. Share this journey with a friend who is just starting out, or go back to the beginning any time on the Start Here page.

There are no affiliate or referral links in this post. This is general information, not financial, tax or legal advice; everyone’s situation is different. Figures were checked in October 2026 and can change.

Sources: this page has no new figures. Each step lists the official sources for its own numbers.

← All 22 steps (Start Here) · All topics