Spring is in the air. Along with warmer weather, colourful blooms and budding trees comes a time-honoured tradition: spring cleaning.
As you shake off the winter doldrums and ready your house for the new season, now could be a great time to also check on those New Year’s resolutions
you made back in January and think about how you can clean them up, too.
Perhaps you set health and wellness-related goals for the new year. But what if good health wasn’t measured exclusively in step counts or gym gains but also included your ability to handle an unexpected expense?
If you’re looking towards health and wellness goals, consider adding financial wellness into the mix. Think of spring as a time to set new intentions and clean up your financial routines to help you feel more secure about your finances now and into the future.
A recent TD survey found that seven in 10 Canadian respondents perceive the cost of living to be a major financial hurdle, while only about one in three Canadians reported having a financial plan in place for 2026. With that in mind, we’ve put together a list of 21 ways to achieve financial wellness starting this season, and beyond. Breathe in, cash out…
1. Get to the root of your relationship with money
Canadian financial educator and author of Everything but Money Jessica Moorhouse says that understanding your relationship with money is the key to breaking cycles of debt. Examining the underlying attitudes you hold towards money (through talking about money, self-reflection, seeking out advice and more) can help unravel certain unhealthy behaviours.
Once you start to understand why you do the things you do, it’s easier to take steps towards tackling them and building healthier money-related habits.
2. Start tracking your spending
Use a spreadsheet or if you have a TD chequing account, the TD MySpend app, to keep track of where your money is actually going. “Not only will [tracking] give you clarity on what’s actually happening, you’ll start to feel more in control of your money,” says Moorhouse. “Then, at the end of the year, you’ll have a good picture of your progress and learn what areas still need paying attention too.”
3. Get comfortable with the basics of investing
If you don’t already know, it’s time to learn your TFSAs from your RRSPs and the difference between an ETF and an index fund. Explore the variety of options available to you (including options such as, direct investing in registered vs. non-registered accounts, investing in mutual funds or GICs, or looking into managed accounts, depending on your net worth). Figure out your risk tolerance and use that information to decide which route works the best for you.
4. Build an emergency fund
According to Statistics Canada, one in four Canadians would be unable to cover an unexpected expense of $500. Prepare yourself for this potential scenario by socking away small amounts of each paycheque into an emergency fund. The extra funds can help you feel safe and more prepared to handle unexpected expenses.
5. Ditch your debt (or make a plan to)
Carrying debt can be enormously stressful. But once you make a plan to tackle your debt, you might start to feel more in control of your finances. Here are a couple ways to get started, according to Christina Mikhael, Product Owner, Onboarding & Account Management, Everyday Advice Journey at TD.
The Avalanche Method
The goal of the avalanche method is to lower the overall interest you pay by paying off your highest interest-rate debt first. Here’s how it works:
- Make a list of all sources of debt, organized from the highest interest rate to the lowest
- Continue to make at least the minimum payments on all of your debt, but prioritize paying more than the minimum payment on the debt with the highest interest rate
- Once the highest interest rate debt is paid off, do the same with the next highest, and so on
The Snowball Method
With the snowball method, you aim to pay off your smallest amount of debt first, and then you build momentum as you pay off more and more debt. Here’s the approach:
- List all your debt, in order of the smallest amount owed, to the highest, regardless of interest rate
- Continue to make minimum payments on all of your debt, but put more money towards the smallest amount owing, until it’s paid off. Then do the same with the next smallest, and so on
6. Determine your fixed costs
“When you calculate what percentage of your take home income goes to fixed expenses like rent, car payments, insurance, daycare, and debt payments, you instantly see where the pressure is coming from,” says money coach Nicole Victoria, also known on Instagram as No Budget Babe. Fixed costs that are less than 50% of your income can help ensure more flexibility towards reaching financial goals — like saving for a down payment or a dream vacation.
7. Figure out what brings fulfillment
Once you’ve sorted out your fixed costs, decide which discretionary expenses bring long-lasting happiness vs. fleeting fulfillment. “I always tell people that tracking spending isn’t about cutting out joy, it’s about finally seeing the story behind your money,” says Nicole Victoria.
If it turns out you’re spending a lot of money on clothing and still aren’t satisfied with your wardrobe, for example, it might be time to take a break. A TD survey found the most common ways Canadian respondents planned to minimize spending in 2026 include eating out less often (55%) and making fewer retail purchases (53%).
8. Cut down on fixed expenses where possible
Approximately 67% of Canadians surveyed said they plan to cut spending in 2026, compared to 51% last year, TD found. Once you do a full inventory of your fixed expenses, figure if there’s a way to minimize them. If your phone bill is dragging you down, is it time to switch to a provider who offers a cheaper plan?
9. Create a budget
A budget provides a spending road map. A common budget breakdown is 50/30/20: 50% of income goes to needs, 30% of income goes towards wants and 20% of income goes towards savings.
10. Automate everything
When you don’t have to think about something, it becomes much easier to do. Use automation to pay bills and add funds to your savings account. This can help free up your mental space so you can focus more time on things that you want to spend time on. “When your financial life runs in the background, you stop forcing yourself to ‘be disciplined’ and start getting results,” says Nicole Victoria. 18% of Canadians surveyed by TD say they plan to implement savings tools like automation to assist with their financial goals.
If you’re a TD client, you have a few options to automate your savings:
- Pre-authorized transfer service: automatically transfer funds to a savings account on a schedule that works for you (daily, weekly or monthly)
- Simply Save Program: Automatically send $0.50-$5.00 to a savings account every time you use your TD Debit Card for debit purchases or ATM withdrawals (or both)
- Pre-authorized Purchase Plans: Invest as little as $25 in TD mutual funds on a schedule of your choosing (such as, weekly, bi-weekly, monthly, quarterly, semi-annually, or annually)
11. Consider critical or disability insurance
A big part of financial wellness is being prepared for emergencies of any kind. Renée Sylvestre-Williams, money journalist and author of The Singles Tax, suggests purchasing critical or disability insurance to account for any accidents or health issues that may arise—especially if you’re self-employed. “That way, if something happens to you, you’ll have some income coming in,” she says.
12. Make a will
It sounds serious — and it is — but it’s always a good idea to be prepared. “Wills are important [especially] when you have assets and are financially responsible for another living being, even if it’s a pet,” says Sylvestre-Williams. Anything can happen, so be sure to express your wishes and make a plan for your eventual expiration date.
13. Start small
When it comes to saving and investing, you don’t need to have a lot of money to make a big difference. Money can compound and its impact can become greater over time so every cent counts, literally. Saving $20, or $10 or even $5 per pay cheque is better than saving nothing. “It’s time in the market that’s more important,” says Sylvestre-Williams. The longer you have your money invested in the market, the greater its potential to grow. One TD colleague took this to heart and used her TFSA
for a down payment on her first home.
14. Pay bills on time
Nobody wants to spend more than they have to, so learn to avoid interest by paying all bills on time. Credit scores are built on payment history and total debt, amongst other factors, so it’s best if you can pay each bill in full.
15. Consider charitable donations
If there’s extra room in your budget, consider earmarking funds for charitable donations. Anything up to $200 receives a 15% federal tax credit and above $200 receives a 29% federal tax credit. Why not take the opportunity to do something you can feel good about that could also give you a tax credit?
16. Get scam-savvy
If you’ve stopped answering your phone due to the proliferation of scam calls, you’re not alone. But scams are everywhere, not just on the other end of the line. Canadians lost a combined $704 million to scams in 2025 according to the Canadian Anti-Fraud Centre, so maintain a healthy sense of skepticism and stay up to date on the latest frauds and scams proliferation. .
17. Compare credit card benefits
There’s a wealth of credit cards offering shiny benefits from cash back to travel points. Look into the various interest rates, fees and rewards to determine if your current card features are working for you, rather than the other way around. After weighing the options, you might end up switching cards, or potentially adding some new ones to your roster, if it makes financial sense for you. Either way, do your research and you might just reap the rewards.
18. Try a “no-spend” challenge
In a recent TD survey, approximately 30% of Canadians reported that they plan to participate in a “no spend” challenge as a way to manage their finances — and it’s a popular strategy Gen Z is using to cut back. Experimenting with these challenges can be a way to gamify the experience of saving money and turn it into a fun challenge rather than a pesky hassle.
19. Get candid about money
If you’re in a relationship, try not to shy away from money conversations. While you and your partner might have different money-related values and goals, it’s important to be honest with one another earlier, rather than later — especially before marriage or a long term commitment. The goal is to find alignment on financial matters so that there are no surprises down the road.
20. Plan for retirement
While it’s crucial to have money saved for immediate expenses it’s important not to lose sight of long-term goals. Speak with a financial planner who can help you put together a plan that works for you and your lifestyle..
21. Figure out your ultimate goal(s)
What is it all for? Do you want to save enough to enjoy a comfortable retirement? Provide a launch pad for your children’s future? Deciding on a concrete goal will make it much easier to formulate an overall financial plan to help you reach that eventual destination.