by Zain Usmani | Oct 15, 2024

Cost-saving ideas can be especially helpful for newcomers because saving money in Canada can be quite a challenge. The financial choices you make within your first year can impact how you live in Canada for the next few years. This is why it’s important to make good decisions now, so you can benefit in the years to come.

Furnished homes can be very helpful because they save a lot of time, money, and effort. You also won’t have to worry about how you are going to move the furniture if you are planning to move somewhere else in the future.

It is very likely that you will move somewhere else and it is a good idea to find a home on rent that is just enough to meet your needs. Anything after that will cost you more money than you need to pay.

Our Rentals for Newcomers site is a great place to search for housing in Canada. With this practical and easy-to-navigate site, you can find the average cost of rentals right across Canada and search for housing according to your price range.

Living close to amenities is a great comfort and it is also an excellent cost-saving idea. If you usually check your expenses at the end of the month, you probably noticed that gas takes up a big chunk of the expenses. 

Living near schools, grocery stores, and places you would visit often means that you would usually walk there, saving you a lot of gas.

You should also try to find a home that is near to your workplace because driving 20 km to your job and then driving 20 km back home can take a lot of time, and cost you more for gas. 

No matter which province or territory you live in, there will be local organizations that help newcomers by providing them with basic furniture at a low cost or sometimes even no cost. One organization that does this is the Furniture Bank though you will have to pay a small fee to get the furniture delivered to your house.

Kijiji and Facebook Marketplace are online sites where people can buy and sell items locally. Here is how they work: you go to the website to search for the item want to buy and contact the seller. Then if you are satisfied with the item, you can set up a time to meet and check out the item.

Some people are even willing to deliver for free or for a small cost. A lot of the people selling furniture on Kijiji or Facebook Marketplace are people that are moving or trying to clear out everything from their house, so the furniture is usually in very good condition.

If you don’t want to buy used furniture, there are also some good options to buy new furniture. Ikea is the world’s biggest furniture retailer and for good reason. Not only is Ikea furniture affordable, but it is also of very good quality. What you may not like about it is that you have to assemble the furniture yourself at home. 

Another great cost-saving idea is buying out of season. You can buy brand new clothes for up to 80% off from clearance sales! Clothing stores put out-of-season clothes (and other items) on sale with huge discounts. You could save a lot of money just by buying clothes you will need in the future but don’t need right now. An example is buying snowshoes after the snow melts, and buying shorts when it starts to snow.

If you missed the clearance season or you just need clothes immediately, it might be worth visiting stores like Winners or Marshalls. These stores sell branded clothes for a lot lower prices than what they would normally sell for. They also have a wide variety of clothes, ranging from activewear to jewelry.

Buying used clothes is another way to save money. You can find cheap used clothes that are in really good condition. The owner usually sells the clothes because they have been out of use so you will get them at a good price.

The best way to go from one place to another is to walk or cycle. Not only does it save you money but it is also a very good way to keep yourself physically and mentally healthy. I am not saying you should walk or cycle 20 km, but if it is as little as 2-3 km, cycling there would be the best option. If your destination is only a kilometre away, then you should consider walking as well.

If you often have to go farther than you can walk or cycle, you might want to consider using public transport. There are many reasons to choose public transport over the car. You need to pay for car insurance, maintenance, and gas. Not to mention the cost of buying the car itself. Having a public transport pass costs around $150 a month. That is a very good price compared to owning a car.

If public transport or cycling does not work for you or it isn’t convenient, you need a car. But where should you buy it from and how much should you pay? If you only need a small car to run your daily errands, you can usually find a used car for under $5000, depending on where you live. 

One thing to keep in mind before buying the car is its fuel economy. This means how much gas it consumes per 100 km. If it is anywhere from 8 l/ 100 km and below, the fuel economy is pretty good, saving you a lot of money. Some good websites to buy used cars are Autotrader and Kijiji Autos. 

To give you an idea of living costs, here are the average costs for rental housing, utilities, and some basic goods and commodities in Toronto, Vancouver, and Calgary (all prices are in Canadian dollars and are current as of May 2024: Source: Numbeo.

Now that I have told you how you can save money in your grocery store, I have some suggestions on where you can get your groceries. Walmart is a chain of grocery stores that has everything from clothes to food to utensils. If there is a Walmart location near your home, it’s a great store to get almost anything at a good price.

If your local Walmart is too far, then you should look for NOFRILLS. NOFRILLS is a Canadian chain of grocery stores owned by Loblaws that offers a wide variety of foods. Unlike most grocery stores, NOFRILLS is limited to only food and not things like stationery or clothes. However, it is less expensive than most other big grocery stores so, it is a good idea to know where your local NOFRILLS is located.

Dollarama is another good store but it doesn’t fall under the category of grocery stores. Yes, it does have some food like candy and canned foods, but it is better known for selling inexpensive items (all of its items are under $4). You can find things like stationery, canned foods, working tools, and kitchen utensils all at good prices.

It might be tempting to stop by a restaurant and pick up a burger but it may not be a good choice, both financially and healthwise. The better cost-saving idea would be to cook your food. If you have a burger craving, you can get the ingredients and cook the burger yourself. It will cost you a lot less as compared to the ones in restaurants.

If you do want to go to restaurants once in a while, you should be on the lookout for coupons. Coupons can give you lots of good deals but they are only eligible for a certain period of time. 

This is why it is a good idea to sign up for websites like Honey. Honey is a chrome extension (on laptops/ Chromebooks) and app (on mobile) that finds and applies coupon codes so you can save money on different things you order online. 

If you go to the restaurant in person, then you won’t be able to use Honey as it only works when you order food online. Honey will also save you on other products you purchase online like electronics, as it usually works on most things you will order online.

Food Bank is a non-profit, national charity that helps Canadians by distributing food to those who need it. If you are a newcomer and are having difficulty finding a job, Food Bank is a very good option to get by your first year. Here is how the Food Bank works: People donate food or money to the Food Bank. The Food Bank then buys food and gives it out to the people that need it.