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Book an appointment with a Scotia advisor.

It starts with a simple conversation.

Have a question?

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Building your emergency fund

Life is often filled with surprises. When it comes to unforeseen events like job loss, illness, or major home repairs, it’s important to be financially prepared.

Everyone experiences a cash crunch 

Some call it emergency funds, while others call it savings. Whatever the label, setting aside enough to fund your personal expenses is a good idea to help survive those rainy days.

Small savings can add up

See where you can cut costs and put away a few extra dollars toward your growing emergency fund. A good goal is to have an emergency fund that covers at least three to six months of total living expenses.

Open a high-interest savings account

High-interest savings accounts, such as the MomentumPLUS Savings Account or the Savings Accelerator Account, help you earn interest on your emergency funds and give you anytime access to the money when you need it.

Plans for your emergency savings

Start planning today with the help of a Scotia advisor.

Tax-Free Savings Accounts (TFSA)

A TFSA is a great way to save for both short and long-term goals, with the flexibility to withdraw your money at any time without penalty.1

Products for your emergency savings

Having access to a ready reserve of cash will prevent you from taking on additional debt.

Savings Accelerator Account

Earn a competitive interest rate on your money as it grows, with no monthly account fee. Available in registered3 and non-registered plans

MomentumPLUS Savings Account

A high interest savings account that rewards you the longer you save.

All with no minimum balance or monthly account fee.

Are you saving for something else?

We can help you achieve your financial goals.

Introducing Advice+ from Scotiabank

Investing for the future is important, but so is enjoying your life today. Get financial advice from Scotiabank that’s easy to understand, informative, and tailored to you. Together, we’ll build a plan that fits your life today and tomorrow.

What is an RRSP?

Your guide to the Registered Retirement Savings Program and how it can help you save for retirement.

What is an RRSP?, What is an RRSP?

What is a TFSA?

Your guide to a Tax Free Savings Account and how they can help you save for your goals.

What is a TFSA?, What is a TFSA?

What you need to know about mutual funds

What is a mutual fund? Our guide explains this investment option, the benefits, risks and more.

What you need to know about mutual funds, What you need to know about mutual funds

Talk to a Scotia advisor today

A Scotiabank advisor is someone you can talk to about your today and trust with your tomorrow.

Build a plan for your future with Scotiabank

Get personalized advice from our team of advisors and investment specialists across Canada. 

Connect with us in a way that’s convenient for you. Scotia advisors are available in every branch to help you understand, plan, and execute the right financial plan.

Monitor your investments digitally with online and mobile banking. Our digital banking guides show you how to take care of your banking using your mobile phone, tablet, or computer.

Book an appointment with a Scotia advisor.

It starts with a simple conversation.

Have a question?

We’re ready to give you advice.

Investing FAQs

Registered plans are accounts with different tax treatments. For example, a Registered Retirement Savings Plan (RRSP) is a government-regulated investment account with special tax benefits to help you maximize your retirement savings. Deductible contributions to an RRSP help reduce your taxes, and any income you earn on your investments while in the plan grow tax deferred.

Within these investment accounts, you can invest your money in many different products that grow in value over time, such as mutual funds, GICs, and so on. 

A general guideline is to save three to six months of living expenses to get you through unforeseen events, such as job loss, illness, or major home repairs. Having an emergency fund helps you avoid dipping into your retirement savings or borrowing from your credit card or line of credit. Contribute whatever you can to your fund. Even $20 a month can make a big difference over time. Follow these 3 steps to start your emergency fund.

Investing automatically through a pre-authorized contribution (PAC) can help keep you on track to meet your financial goals. PACs eliminate the guesswork of when to invest and can allow you to take advantage of potential compound growth. And with a PAC for your RRSP, you can avoid the stress of making last minute lump-sum contributions. Find out more about a PAC and how to set one up online.

A financial plan gives you a complete picture of your finances by focusing on your current needs and future goals. It includes longer-term goals, such as retirement, and shorter-term goals, such as saving for a car or a home. Your Scotiabank advisor can help you build your financial plan and also serve a regular check point to help you stay on track. Check out our step-by-step guide on financial planning.

A mutual fund provides investors access to a diversified portfolio of investments. Your money is pooled with other like-minded investors and is invested on your behalf by investment professionals. Find out more about Scotiabank mutual funds.

A TFSA is a registered account that lets you grow your investments tax free. You don’t even pay tax when you withdraw funds.

Your TFSA can hold the following investments:

  • Mutual funds
  • Guaranteed Investment Certificates (GICs)
  • Savings accounts

Find out more about a Scotiabank TFSA and try our TFSA calculator to see how much money you can save.