I have always found it really difficult to sustain a savings account with more than a few grand in it for too long. The problem is that, while you’re trying to build it up, emergencies pop up along the way. Two steps forward, three steps back. I suppose it’s all how you define emergencies, but an unexpected car repair or vet bill can really set you back.
A fellow Canuck! Another thing I’ve found to help considerably with mental health (from a financial perspective) are index funds. I’m even a believer in individual stock picking over the long-term being successful but it’s definitely stressful and time-consuming. Index funds can be just as successful and take all the stress away.
I have always found it really difficult to sustain a savings account with more than a few grand in it for too long. The problem is that, while you’re trying to build it up, emergencies pop up along the way. Two steps forward, three steps back. I suppose it’s all how you define emergencies, but an unexpected car repair or vet bill can really set you back.
A fellow Canuck! Another thing I’ve found to help considerably with mental health (from a financial perspective) are index funds. I’m even a believer in individual stock picking over the long-term being successful but it’s definitely stressful and time-consuming. Index funds can be just as successful and take all the stress away.