The most respected finance experts in Canada have earned their reputation not just through deep knowledge but because they’ve succeeded by following habits that prioritize consistency and purpose. Their routines and decision-making approaches offer powerful lessons that anyone can apply to improve their financial well-being, regardless of income or life stage.
Why study the top finance experts in Canada?
In a financial world full of noise and quick-fix promises, true expertise is rare. Learning from respected financial experts can show you how lived knowledge, consistent habits, and thoughtful long-term planning translate to real success. You can apply the very same principles they use to navigate uncertainty, save more easily, build wealth, and protect their nest egg.
Their habits aren’t reserved for millionaires. Many of their strategies can be adapted to any income level, career stage, or life goal.
Ten Financial Habits Top Finance Experts Agree On
1. Everyone Needs a Budget
Top experts understand that a budget isn’t about restricting yourself to the point that you’re miserable and give up – it’s about giving your hard-earned money a job so you control it and not the other way around. When you understand how to make your money work for you, you will stop making regretful choices, limit waste, and make intentional decisions on things you need and value.
Saij Elle’s Take: Even if you don’t enjoy budgeting, start simple and try it for 3 days. Compare your intended spending to what you actually spent your money on. That awareness will be eye-opening and help you align your spending habits to what matters to you most.
2. Maintain an Emergency Fund
Having 3–6 months of your household income set aside for emergencies is essential and will be one of the most important stress-reducers in personal finance. An unexpected expense will inevitably come up, whether that’s car repairs, an appliance breakdown, or medical costs. Not having cash set aside could force you to rack up debt, which comes with high interest fees.
Saij Elle’s Take: If you are a single-income earner or vulnerable to a layoff or downsizing, aim to have 6-9 months set aside. Keep this money accessible, such as in a high-interest savings account.
3. Pay Yourself First
Before splurging on wants or paying bills to everyone else, successful savers make sure they pay themselves for their most important financial goals. That means setting aside a portion of their income (ideally 15-25%) for savings and investments.
Saij Elle’s Take: Automate this process so you are not tempted to try to save at the end of the month. You can create a healthy habit rather than feel like it’s a chore, and you won’t miss what you don’t see.
4. Manage Credit Cards Responsibly
Personal finance experts understand that while credit cards can be used as tools for convenience and rewards, they should never be debt traps. Carrying a balance means you’re spending future income you haven’t yet earned and are paying high interest that will eat away at your wealth.
The golden rule is to avoid purchasing anything you couldn’t pay in cash. And if you can’t pay the balance off in full every month, always aim to pay more than the minimum stated.
Saij Elle’s Take: You don’t need more than two credit cards – a primary one and a spare one that offers different benefits and is available in case the other doesn’t work.
5. Use Debt Strategically
Not all debt is bad. Financial experts will distinguish between productive debt, which is used towards an asset (like a mortgage or education loan), and destructive debt (credit cards and payday loans) that are often applied towards things that are consumed or depreciate.
Pay off high-interest debt aggressively while using low-interest debt strategically to build assets.
Saij Elle’s Take: Use the snowball or avalanche method to pay off your debt. They both work, but they take different approaches, and which is “better” depends on your personality and priorities.
Snowball builds motivation by paying off the smallest debts first, while Avalanche saves more money by tackling high-interest debts first. The best method is the one you’ll stick with.
6. Take Advantage of Employer-Sponsored Plans
Whether it’s an RRSP, 401K, stock purchase plan, or another pension, most employers will usually offer a matching program on your contribution. Experts agree that you should never leave free money on the table.
Saij Elle’s Take: Too many people underestimate the power of matching programs, and yet they’re an instant, risk-free return on your contributions. Plus, most employer-sponsored plans have lower management fees compared to if you were investing on your own. Always prioritize these plans ahead of other investment schemes.
7. Diversify Your Investments
Diversification is one of the golden rules of investing and for good reason. By spreading your investments across different asset classes (such as stocks, bonds, and real estate) and geographic regions, you reduce the risk that a single event will significantly hurt your entire portfolio.
Over time, a balanced approach will smooth out returns, and while it can’t eliminate risk, it can reduce it meaningfully.
Saij Elle’s Take: If your portfolio isn’t large enough to buy individual stocks or bonds, ETFs (exchange-traded funds) can be a cost-effective, beginner-friendly way to diversify instantly. They allow you to own a basket of investments with one purchase, which keeps costs low and makes managing your portfolio simpler.
Just make sure to look underlying holdings in detail, because some ETFs hold similar assets, which can lead to unintentional overlap.
8. Protect Your Loved Ones with Life Insurance
Life insurance is often under-appreciated and yet necessary to ensure your loved ones are financially secure if something unexpected happens to you.
Crunch a few numbers to determine what your beneficiaries would need to continue “life as usual” until they become independent as a starting point before speaking to your advisor or agent, so you’re prepared for a thoughtful dialogue.
My Take: Term life insurance applies to most people’s circumstances and will be the most cost-effective way to meet your coverage needs. While whole life or other permanent policies can have a place in certain advanced financial strategies, it’s expensive and the exception, not the rule.
Also Read : Six Smart Money Moves: Transforming Financial Goals into Achievable Milestones
9. Have a Will and Estate Plan in Place
Personal finance experts agree that estate planning isn’t just for the wealthy – it’s for anyone who has assets or dependents. And yet, only 15% of Canadians have one. (Source: Ipsos) LINK: https://www.ipsos.com/en-ca/only-15-percent-of-canadians-have-estate-plans
An estate plan is about ensuring your wishes are carried out according to what’s important to you rather than letting the courts apply a formula and decide for you.
Saij Elle’s Take: Just because you have a will doesn’t mean you can execute on your estate the way you want. Contrary to what most people believe, you must engage a financial advisor who can properly review your resources and discuss financial consequences (tax, probate, etc) before engaging a lawyer.
10. Keep Learning and Adjusting
The financial world will continue to change. Markets will rise and fall, tax laws will be updated, interest rates will shift, and new investment tools will emerge. On top of that, your own life circumstances will evolve through career changes, new family members, and a shift in priorities.
The financially successful understand that financial plans are built on continuous learning, regular reviews, and a willingness to adapt when the situation changes.
Saij Elle’s Take: Financial success should not be treated as a “one and done” exercise. At a minimum, review your plan once a year to make sure it still aligns with your goals, and revisit it immediately after any major life event like marriage, a new child, a job change, or an inheritance.
Staying engaged with your finances ensures you’re prepared for what’s ahead while making the most of opportunities along the way.
Beyond Tips: Lasting Financial Success
Top financial experts understand that beyond any good habit, money should be viewed as a wellness tool.
At Saijelle, we focus on holistic financial well-being because we understand that money decisions, when properly aligned, lead to mental, emotional, and physical health.
Most people need more than a checklist – they need support. That includes education, practical tools, and coaching to build mindset and accountability – especially as 93% of women report money-related stress.
Community support, like our live webinars, fosters peer learning, empowerment, and collective growth. And mindset tools, such as our Wealth Mindset Workbook, help reframe limiting beliefs so confidence replaces fear.
Ready to transform your financial habits with guidance built for you?
At Saijelle, we combine a holistic mindset, practical tools, and community support to empower women to thrive financially.
Whether you’re starting from scratch or building on existing habits, our workshops and coaching programs are designed with you in mind.
Contact us today or book a session to start building a personalized, powerful money strategy that reflects your values and supports your whole life.
Frequently Asked Questions (FAQs)
What qualifies someone as a “top finance expert”?
Often, it’s a mix of certifications, real-world client results, ongoing education, and a trusted presence in their community or industry.
Are these habits realistic for people with lower incomes?
Absolutely. These strategies emphasize mindset, structure, and learning — all of which apply regardless of income level.
Is financial wellness the same as being wealthy?
Not necessarily. Financial wellness means feeling confident, less stressed, and empowered to make money choices that align with your life goals.