Step 2: Invest

This is one of the EASIEST steps BUT results in one of the most common mistakes….

DO NOT FORGET to INVEST the money you transfer in your TFSA

• Investing in XDIV offers a simple, low-cost way to gain exposure to a diversified portfolio of high-quality Canadian dividend-paying companies. With a management fee of just 0.11%, XDIV is designed to keep costs low while delivering steady income through regular dividend distributions. By choosing to reinvest those dividends, investors can benefit from the power of compounding—using each payout to purchase additional units, which can help grow the investment more quickly over time
• https://www.blackrock.com/ca/investors/en/products/287823/ishares-core-msci-canadian-quality-dividend-index-etf

Alternatively you can BUY XEQT, click here

• This portfolio provides a simple and efficient way to gain exposure to a globally diversified mix of ETFs, all bundled into one convenient solution.
• Designed with a strategic asset allocation of 100% equity, it offers broad regional coverage aimed at long-term growth. The portfolio is continuously monitored and automatically rebalanced as needed to keep asset class weights aligned with their targets, reducing the need for hands-on management.
• With a low-cost fee structure—including a management fee of just 0.18% that covers all underlying ETF fees—investors can keep more of what they earn while benefiting from a disciplined, diversified investment approach
• https://www.blackrock.com/ca/investors/en/products/309480/ishares-core-equity-etf-portfolio

(if you want to learn more about what ETFs are check out: https://www.investopedia.com/terms/e/etf.asp – Investopedia is a great place to go for further knowledge.)

Watch this video (these are not our videos but they do the trick)

Also remember to set up automatic investing if you prefer not to log into the app every month and buy the stock, the following video shows how:

Once you focus on budgeting, you will see your finances improve! It is simple, you are shining light on something that was always in the shadows!

1. The easiest way is to download an app on your phone. Here are some options (we have no affiliation):
   • https://buddy.download/
   • https://www.ynab.com/
     
   • If you prefer to do it the old fashioned way, then get yourself a calendar and write down everything you spend money on each day. Get a calculator and add them all up at the end of each month
     
2. Input all income and all expenses!
   
3. Very soon you will have a great idea of your fixed and variable monthly expenses.

With a budget you will feel like you are taking control of your finances, it may sound like a pain to do but the benefits are worth it!

–> If it feels like too much of an annoyance then at the very least figure out what your monthly expenses are. Understand and have a number in mind on FIXED COSTS for necessities and average costs for everything else so that you can have a ballpark of have much you spend every month <–

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