Searching for some easy ways to save a few loonies

A friend once said that while it was all well and good to recommend saving for retirement, what money is ever left over to save?

It’s a valid point. The cost of living continues to rise – groceries that used to be $100 for four bags are now more like $100 per bag. We are happy when we find gas at the pump for under $1.90 – we paid below $1.20 mere months ago.

So how can we free up a few loonies for saving? Save with SPP investigated.

The MoneyLion blog via AOL starts us off with a few solid ideas.

Open a high-interest savings account, the blog advises. “Why work hard to save money just to park it in an account that generates close to nothing in interest? A high-yield savings account will supercharge the impact of all the other savings steps you take.”

Another bit of good advice from the blog is to “pack a lunch at least every other day” when you roll out for work. “Limiting lunches out to every other workday can be a simple way to save $5 to $15 per meal — easily $100 over the course of a month,” the blog suggests.

Finally, a classic idea – “make a list before heading to the grocery store,” MoneyLion suggests. “It’s amazing how planning a list of purchases before each weekly shopping trip will prevent you from coming home with an extra bag filled with potato chips, soda and frozen pizzas.” Keeping to your list will get you in and out of the store faster and having spent less.

Over at the Money Bliss blog, poster Kristy offers up some more ideas.

A unique one – bank every $5 bill you get.

“Every time you get a $5 bill, put it aside in a jar or an envelope and let it add up over time. This simple habit can turn small amounts into a bigger fund.”

Another slightly outside the box idea in this age of paying by tap is to use cash. Very old school.

“Paying with cash makes you think twice before buying something because you see the money leaving your hands,” writes Kristy. “It’s a great way to control impulse spending. When you stick to only using cash, it’s easier to track how much you have left and stick to your budget.”

A final good thought – “turn unexpected income, like bonuses and refunds, into immediate savings,” the blog suggests.

“Any extra money you weren’t planning on, like a bonus or a refund, should go straight into savings and investment accounts,” Kristy writes. “Since you didn’t expect to spend it, you won’t miss it.”

Let’s add in a few more from Reader’s Digest Canada.

Buy staples, such as pet food or meat, in bulk. “If you can afford the upfront cost, you may be able to save big by purchasing larger quantities of meat from a local butcher or a bulk grocery store and freezing it for later use,” the magazine advises.

Another tip is to build an emergency fund to help pay for future problematic expenses, like sudden home or car repairs.

“You can mitigate the impact of unexpected expenses by putting a small amount of money into an emergency fund each month. Talk to your bank about high-interest online savings accounts, which are typically free and also tend to offer higher rates compared to a regular savings account, making them perfect for rainy-day saving,” Reader’s Digest Canada tells us.

A final thought – your fridge should always be nearly empty, not jammed full. Huh?

“Empty the fridge before bringing in more food. That means keeping track of what’s already there, eating leftovers, coming up with creative recipes for leftover produce and not buying new condiments (i.e., finish one bottle of salad dressing before buying another). It’s made for almost zero food waste and approximately $50 each week in savings—that’s around $2,500 a year,” the article enthuses.

Two from us to finish the article. First – this one was featured in a book we reviewed a few years ago – was to simply live on 98 per cent of what you make, and to bank the other two per cent. Amazingly, this works, especially if you automatically whisk the two per cent into savings before you have a chance to spend it.

Second, we took all scratch card winnings, money from bottle returns, rebate money from eyewear, dental plan refunds, and even Visa gift cards and used it to contribute to our Saskatchewan Pension Plan (SPP) accounts. These little bits of money really added up over time.

Thanks to SPP’s low-cost, professionally managed pooled fund, our savings grew and we both enjoy a lifetime monthly annuity payment (with survivor benefits for each other) that arrives like clockwork each month.

See what SPP can do for your drive to save for retirement. Check out SPP today!

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What do people value most about being retired?

This morning, while out walking with the dogs, we ran into a neighbour who retired around the same time as us – we hadn’t seen her for a while, and vice-versa.

That’s because all of us are so busy, we’re never at home as much. She’s taken up pickleball, we’re into our tenth year of line dancing – and we’ve never felt busier. Our friend Anne says she’s met lots of new friends on the pickleball court, so her social life has also got busier.

That made us curious – what do people value the most about being retired? Is it doing new things with new people? Not working and going to meetings? Let’s have a look-see.

An article from Forbes, written by Andrew Rosen, begins by suggesting “that happiness in retirement depends on more than just money. Factors like social connection, emotional well-being, daily purpose and reliable income have emerged as powerful drivers of post-career satisfaction.”

Research, he continues, has found that “many retirees report greater life satisfaction than they anticipated before leaving the workforce,” and “that retirees often experience lower stress and better mental well-being than they did during their working years.”

“This suggests that retirement, when planned with intention, can lead to a meaningful boost in quality of life,” Rosen writes. “The key takeaway is that happiness in retirement is not strictly tied to a retirement account balance. Lifestyle flexibility, time with family, and freedom from career pressure play important roles.”

He notes that two factors “stand out consistently” in any conversation about retirement values – “purpose and connection.”

“Retirees who stay engaged through volunteering, hobbies, mentoring, or community work report higher levels of life satisfaction. A sense of purpose helps fill the gap left when career responsibilities fade,” Rosen explains.

“Social relationships matter just as much. Loneliness and isolation can negatively affect both mental and physical health. Those with close friendships and strong family ties tend to fare much better in retirement than those who withdraw from social circles,” he adds.

The Retiredom blog provides a handy list of retirement values that people abide by.

Focusing on health and wellness is a key value, the article begins. “Your well-being is your foundation in retirement. Investing time and energy into your health ensures that you can truly enjoy the freedom this stage of life brings. It means developing routines around exercise, nutritious meals, regular checkups, and plenty of rest,” the article advises. “Mental and emotional wellness matter just as much,” the article adds.

Continuing to learn new things is another important value, the blog continues.

“Retirement doesn’t mark the end of growth—it’s the perfect time to expand your horizons. Learning doesn’t have to be formal or structured. It could mean diving into history books, learning a new language, taking online classes, or trying your hand at watercolour painting,” the blog notes.

It’s also a period of life where you can focus on helping and giving within your community, the blog suggests.

“Giving isn’t just about money—it’s about time, attention, and kindness. In retirement, you have more of all three. Volunteering, mentoring, or supporting local causes can create deep connections and give your days a greater sense of meaning. Generosity helps you feel useful, appreciated, and part of something bigger than yourself,” the blog notes.

For some final thoughts, let’s turn to the Second Wind blog.

The blog suggests that finding purpose in the years after work is essential in countering “age-related decline.”

“Just think of it this way — in retirement, you have the time and space to explore your passions and discover your purpose. And with the right structure in place, you can start living with more purpose,” the blog advises.

Those with higher scores on having purpose in life had, the article notes:

• 24 per cent lower likelihood of becoming physically inactive 
• 33 per cent lower chance of developing sleep problems
• 22 per cent lower likelihood of developing unhealthy body mass index

As our conversation with our friend Anne concluded, we all agreed that stepping up our activities was driving more exercise and stronger social connections – we aren’t sitting around reading the paper.

Having retirement income security is of course another important pillar of a good retirement.

If you don’t belong to a retirement savings program or pension plan through your workplace, the Saskatchewan Pension Plan may be the savings plan you’ve been looking for.

SPP is open to any Canadian with available registered retirement savings plan room. You can contribute any amount up to your RRSP limit, and you can transfer in funds you may have in other RRSPs to consolidate your savings nest egg. And if you change jobs, that’s no problem – SPP is not tied to any single employer as other types of pension plans are.

Find out how SPP has been delivering retirement security for Canadians for 40 years!

Check out SPP today!

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Some tips and tricks for saving on gas

While a recent tax cut has offered up some relief on the price of gas, it’s still a lot higher than it was during the winter.

We’ve already started to think about ways to cut back. Maybe we don’t really need to warm up the car for so long. Perhaps we can find what we’re looking for closer in the neighbourhood. And once the weather warms up, the two-wheeler can be dusted off and used for short errands.

What are other people doing to save on gas? Save with SPP took a look around to find out.

In a long, COVID-era article on generally saving on household expenses, the folks at MoneySense start us off with a few solid ideas.

First, the publication suggests, be sure your vehicle is well-maintained.

“Stay on top of oil changes and components as they wear, so your machine is running with as little as friction as possible—that’s the best way to save money,” Josh Smythe of the British Columbia Automobile Association tells MoneySense.

Next, check your tires and make sure they are correctly inflated. “Air pressure is super important for fuel economy,” Smythe tells the publication. “Tire wear in the wintertime is not only effective for traction, but for saving fuel.”

Another interesting tip – clear out your trunk, and remove roof racks when you aren’t using them. The extra weight burns more fuel, and the rack can increase wind friction, which also burns more gas.

Over at CTV a number of tips authored by the Canadian Press are featured.

A first idea is to know in advance where you’re going – plan your trips, the article suggests.

“If you research your route and use traffic newscasts or driving apps, you can avoid accident zones and other slow-moving areas, which help you save on gas,” the article begins, quoting Teresa Di Felice of the Canadian Automobile Association. Also, consider grouping trips to save on gas – combine errands into one trip rather than multiple ones, the article adds.

Keep your foot off the gas, and don’t slam your brakes, the article continues.

“Cars consume more fuel when they go from stopping to travelling at a high speed immediately or vice versa. When you drive, try not to slam on the brakes at the last second or hit the gas hard as you take off from a stop light or sign to save on gas,” the article notes, again quoting Di Felice.

Using cruise control (if you have it) is a way to “boost savings because you are avoiding fluctuations that hurt your fuel efficiency,” the article continues.

You also should avoid “over-idling,” as most vehicles are ready to go within 15 to 30 seconds of starting up, the article adds.

Keep a sharp eye on gas prices – there are apps and websites available that can alert you to outlets offering the best prices, the article adds.

The team at Kiplinger, by way of MSN, offer up a few more ideas.

Watch your speed, the article tells us.

“No list of gas-saving tips would be complete without the admonition to slow down. There’s no getting around the fact that lower speeds require less fuel, mostly because aerodynamic resistance increases with the square of speed,” the article states.

Joining in on the idea of reducing your vehicle’s weight, the article suggests that if your vehicle comes with a third row of seats that you seldom use, consider taking those seats out and leaving them in the garage until needed.

The article also chimes in on the idea of reducing your use of brakes and the gas pedal.

“Look down the road farther, and coast down by lifting your foot off the accelerator when you know that traffic signal’s going to change to red. You might actually find it rewarding. Bonus: You’ll be a safer driver, too, which could help with those insurance costs,” the article adds.

Let’s throw in a couple more ideas that have worked out in the past.

Consider carpooling. If you and a neighbour, friend or family member both work in the same part of town, you’ll save a lot on gas by riding together to the office. Parking one vehicle will be cheaper than parking several.

If there’s public transit in your area, jump on more often to save on gas.

It’s also never a bad idea to walk, or bike, to do some of your errands closer to home.

The money you save from any or all of these ideas might allow you to put away some loonies for retirement.

That’s where the Saskatchewan Pension Plan may be of interest. If you don’t have any sort of retirement savings program through work, then the SPP may be just the ticket. SPP is open to any with available registered retirement savings plan room.

You decide how much you want to contribute – any amount up to your RRSP limit – and SPP does the heavy lifting, investing your hard-saved dollars in our low-cost, professionally managed pooled fund.

At retirement, your options include the possibility of a lifetime monthly annuity payment, or the more flexible Variable Benefit.

Check out SPP today!

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Taking a look at Investing Clubs – where ideas about money are pooled

A few years ago we were honoured to attend a meeting of the Ottawa Share Club – a group of investment-savvy individuals who share ideas on investing strategies, tips and tricks.

It was pretty eye-opening, even for a reasonably experienced (small) investor, to see how others make their way around the stock and real estate markets. The meeting was held in a downtown Ottawa venue – we bravely travelled by OC Transpo that evening!

Save with SPP decided to take a look around to see what others are saying about investment clubs.

The Supermoney blog states “investment clubs pool their money to invest collectively, often to learn about investing, reduce costs, and make more significant investment decisions.”

“An investment club is a group of individuals who pool their money to invest collectively in stocks, bonds, or other securities. Unlike a traditional investment fund managed by professionals, investment clubs are typically managed by the members themselves, who make joint decisions on where to invest. These clubs can vary significantly in size and structure, ranging from informal groups of friends to formally registered partnerships with legal obligations,” the blog tells us. 

At the Wealth Awesome blog, noted financial writer Christopher Liew tells us that “whether you are a new investor or more seasoned in your approach, it can help to have a community or group of investors to bounce ideas off of.”

While getting a home run tip – such as the “extremely risky and highly speculative” success of the GameStop stock a few years ago – is perhaps a rare thing, investment clubs can “help you expand your portfolio knowledge,” he writes.

He lists a few of what he feels are the best investment clubs in Canada.

“Personal Finance for Canadians is a group on Reddit where Canadians can discuss anything related to Canadian personal finance. Topics that are usually covered include taxation, goal planning, budgeting, baking, insurance, credit cards, savings, and many more,” Liew writes. There are more than one million followers, he adds.

Another club cited by Liew is “Canadian Dividend Investing, a group on Facebook where members share dividend strategies and approaches. Dividend investing involves focusing on companies that offer investors a good yield through dividends.”

Other examples of groups in Liew’s article include Blossom (a mobile app) Canadian DIY Stock Investing (a Facebook group), the Wealthsimple Trading Community and the Canadian Real Estate Investors Association (Facebook).

“Sharing or discussing ideas in a community or group setting can be very beneficial when it comes to learning about investing and how the market functions,” he concludes. “If you are able to join several groups that cover different investment areas (i.e. stocks and real estate), you may have access to well-rounded opinions on the overall market in Canada.”

Writing for GoBankingRates, Sean Bryant tells readers how they can start their very own investment club.

“One of the biggest reasons people choose to start an investment club is that they want to learn and share ideas with people who share their values. It makes sense to start an investment club with family members because, most of the time, your values are well-aligned. Yes, you may have different opinions, but your values are generally on the same page,” he observes.

Keeping the group fairly small is a logical first step, he suggests.

“Most investment clubs will have at least five people but no more than 15 or 20. You must have enough ideas, but too many can make things more difficult. Each person will be required to make an initial investment, say $500 or $1,000. Then, each month, a lower investment will be required. Most clubs stick with a $50 or $100 monthly investment,” he explains.

The group will need to set investing goals, continues Bryant. While the overall goal is going to be “making money and learning from others,” you also need to establish guidelines. How much risk is the group ready to take on? Are you going, he asks, all in on equities, or are other investments, such as alternatives, in play for your group?

In the days before there were low-cost brokerages, a pooled fund run by an investment club was a way to minimize investment fees. This pooling is less common now that there is a low-fee option for buying securities. But, if you are planning to have the money in a common, pooled account, legal advice for setting up the fund and rules governing it is strongly recommended. Bryant’s article lists U.S. legal steps, so let’s just say go see a lawyer and get their recommendation before setting up anything here.

Pooling is a central concept for the investment team at the Saskatchewan Pension Plan. Member contributions are invested in a large, professionally managed pooled fund with management expenses typically below one per cent per annum. The track record – an average rate of return of eight per cent annually since inception – has been impressive (Rate of Return & Fund Performance | Saskatchewan Pension Plan).

SPP’s investment expertise is available to any Canadian with available registered retirement savings plan room – and if you have existing RRSPs, you can transfer them into your SPP account once you join. SPP will grow your savings and income options when you retire include a lifetime monthly pension, or the more flexible Variable Benefit.

Check out SPP today!

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Where do we spend all our money?

Everything you hear, see or read about saving for retirement implores you to cut back on spending so you can stash some cash away for your future.

But to do that, we have to be aware of what we are spending our loonies on. To that end, Save with SPP took a look around the Interweb to try and find out what our hard-earned cash is being used to buy.

Let’s give our first words to Statistics Canada, who last spring released a summary of the latest data on Canadian household spending, from 2023.

On average, the article notes, Canadian households spent $76,750 in 2023. That worked out to $24,671 on shelter, $12,046 on food and $12,090 on transportation.

Next, the article continues, Canadians spent $9,404 on “household operations, furnishings and equipment,” $5,231 on recreation, $4,947 on healthcare and personal care, and $8,361 on “other.”

So, based on these numbers, if you were able to save $1 of every $100 spent, you’d contribute $767.50 to long-term retirement savings. Ramping up to $5 of every $100 would net you $3,837.50, and making it a tenner per $100 yields double that, or $7,675.

Stats Canada dives a little deeper on some spending categories.

We spent $1,200 on air travel in 2023, on average, and about the same on package trips. About $400, the article says, per person was spent on restaurant alcohol, and over $3,000 on restaurant meals. Is there an opportunity to cut back, even a bit, there and direct the difference to savings?

The folks at the Fortunly blog takes at how that spending measures up in aggregate.

The blog notes that in 2024, “consumer spending in Canada grew to $1.4 trillion.” We spent, that same year, a collective total of $774.608 million on credit cards, and “personal spending on the food services and drinking subsector grew to $8.1 billion in 2024.”

The blog notes that Canada “ranks 22^nd among the world’s most expensive countries in 2025,” with 65 per cent of Canadians (in 2024) feeling “worse off” because of inflation. Visits to food banks have jumped by “90 per cent since 2019” the blog adds.

On the more positive side, the blog reports, the savings rate among Canadians grew to “7.1 per cent per household” in 2024, and salaries were expected to rise by 3.4 per cent as of last year.

Citing stats from TD Bank and Ipsos, the blog reports that “83 per cent of Canadian citizens have concerning expectations over the impact of inflation on their grocery budgets. The expected rise in food, rent, and gas prices is among their primary concerns.”

“Lower-income individuals and older people tend to be more worried about the costs of groceries and rent,” the blog states, while “younger people are generally more concerned about house prices, which makes sense, as millennials can expect to pay a third more for their homes than older generations.”

If there is a takeaway to all of this, it is that the only way we may be able to figure out how to save money is by knowing where we are already spending it. Tracking your cash flow, reports the Get Smarter About Money blog, “can give you valuable information about your financial habits. It can also show you where you might be able to adjust your spending. Use this tool to compare your money coming in, and money going out, and look for ways you could adjust if needed.”

The site provides a handy calculator to help you get going on cash flow tracking.

And once you know what you’re spending, a budget is fairly easy to create – Get Smarter About Money provides step-by-step instructions on how to get that going.

If you can live on 99 per cent of what you earn, and save the rest, you are on your way to building long-term retirement savings that can augment your income when you’re no longer willing or able to work. Start small and then ramp up when you can.

You can figure out how your Saskatchewan Pension Plan retirement savings are growing by using the plan’s handy Wealth Calculator (Wealth Calculator | Saskatchewan Pension Plan).

SPP is a made-in-Saskatchewan savings plan that’s open to any Canadian with available registered retirement savings plan (RRSP) room. You decide how much to contribute and SPP does the rest, investing your hard-saved dollars in our low-cost, professionally managed pooled fund. At retirement, your income choices include a lifetime monthly annuity payment or the more flexible Variable Benefit

Check out SPP today!

Investing during times of world turmoil – what strategies are out there?

There’s no question – amid wars around the globe and a tricky trade war here at home – that we are living in unusual times.

What, if anything, should investors be doing during this latest bout of world turmoil? Save with SPP took a look around to see what strategies commentators are suggesting to ride out the storm.

Writing in The Globe and Mail Gordon Pape suggests taking “part profits,” or selling off some of your holdings.

“I don’t like selling in times of adversity. In fact, most financial experts suggest the opposite course: buy when prices are weak. But we’ve enjoyed strong stock markets in recent years, and you may hold securities that have more than doubled in value, even after last week’s pullback. Taking some of that money off the table and holding it in reserve in case the situation further deteriorates isn’t a bad idea,” he suggests, adding that you should first “check out tax consequences” and not “overdo it.”

He suggests we “check out commodities. Wars are bad news for stocks and bonds. But they can lift commodity prices, as we’ve seen with oil and gas.”

Keep an eye out for “special situations,” or companies that are doing well because of the crisis, such as energy stocks (due to impacts on oil shipping). He adds that we should consider holding some gold, as the precious metal can be a hedge against inflation and is considered a “safe haven” investment. He concludes by suggesting we all keep a bit more money in the U.S dollar, as it is “holding up well so far. Part of your cash holdings should be in greenbacks.”

He suggests things “will get better, so keep your cool and take advantage of situations as they arise.”

Writing in the Financial Post, Peter Hodson of 5i Research suggests one strategy is to be contrarian, and “buy the fear.”

“When investors panic we will often start buying. It has proven to be a good strategy, since every market downturn has ended at some point,” he continues. Sectors like energy may do quite well in these times, he adds.

“Oil of course is always a strategic asset during times of war. In the current conflict, the threat of the Strait of Hormuz closing has resulted in a big spike in oil prices. The energy sector was already doing well before this war started but has picked up steam since then,” he writes.

Gold, he concludes, “can be a good place to hide out when worried about global events, financial crises, or wars.”

An article from MoneySense from three years ago makes some still-valid points.

Alan Small writes that there is often “not a lot” investors can do when faced with a time of crisis.

“When markets sell off for reasons that are more temporary than related to economics and performance, it’s important to take emotion out of decision-making and not go into panic mode about your investments,” he writes. “Markets may dip, but they don’t usually collapse. It’s possible your portfolio’s value may drop for a period of time. In the past, after a crisis has ended—and regardless of the outcome—the markets have regained stability, and investment returns have bounced back.”

“My best advice in the face of a world crisis: Stay calm, take a deep breath and focus on the fundamentals,” he advises.

Before adopting any new investment strategy it is a very prudent idea to talk to your financial adviser. If you don’t have a financial adviser, now might be a very good time to get one and leverage their experiences with managing through things like the Tech Wreck, the World Financial Crisis and the COVID-19 Pandemic.

If you’re not experienced with managing money, but want to save for retirement, the Saskatchewan Pension Plan might be a valuable saving partner. SPP is open to any Canadian who has registered retirement savings plan room.

You can contribute any amount you choose to the plan (up to your annual RRSP limit) and can transfer in any amount from other RRSPs you might hold. Once SPP has received your savings dollars, our job is to grow them via investment in our professionally managed, low-cost pooled fund.

At retirement, your job is to receive your grown savings as income, with options including the security of a lifetime monthly annuity payment or the more flexible Variable Benefit.

Check out SPP today!

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Many impacts for parents when adult kids are forced to move back home

Work is done, the mortgage is paid, debt is finally under control – and then the nest, empty for years, fills up again.

What are some of the impacts on retired people when adult children – perhaps due to housing difficulties, unemployment, illness or other reasons – move back home with their senior parents? Save with SPP decided to have a look around to see what people are saying about this growing trend.

Writing for MoneyWise, Chris Clark reports that “a volatile economy, high student debt and rising housing prices have seen many adult kids `boomerang’ back to their childhood homes in droves.”

Clark cites recent research from Thrivent that found “soaring real estate costs, among other factors, have made it increasingly difficult for young adults to afford their own homes — forcing many to return to their parents as a temporary solution while they save money or search for more affordable options.”

And, Clark continues, a recent USA Today poll found that “65 per cent of parents admitted to providing some sort of financial support to their kids between the ages of 22 and 40… with parents shelling out an average $718 USD a month to support their adult kids.”

There are financial consequences for parents of boomerang kids, Clark notes.

“When kids move back in, household expenses inevitably increase. Parents may find themselves paying higher utility bills, buying more groceries, and covering additional living expenses. These increased costs can strain the household budget, especially for parents who are nearing retirement or are already retired,” Clark notes.

“Parents may dip into their retirement funds or delay their retirement plans to accommodate the needs of their adult kids — potentially jeopardizing their financial security in the long term and draining the money available for their golden years,” Clark adds.

The Times of India expands on the consequences for parents.

“The increased household costs for groceries, utilities, and healthcare are taking a toll, with some families opting to create cost-sharing arrangements,” the publication reports.

Financial advisor Alex Gonzalez tells the publication that “taking care of your adult children is an act of love, but it requires a delicate balance between a desire to help and your own financial planning.”

Indeed, the article continues, “38 per cent of parents report that their long-term savings, including retirement contributions, have been impacted by the return of their adult children. Another 39 per cent say their short-term financial goals, such as saving for vacations or home renovations, have also been affected.” The article refers to U.S. statistics.

The Times article concludes with this advice.

“As the number of boomerang kids continues to rise, American families are adjusting to the new financial realities of multigenerational living. While the return of adult children can offer emotional support, it is reshaping household dynamics and requires careful financial planning to navigate successfully.”

An article on the Focus on the Family Canada website provides some guidelines that were set by the author and his wife when their 22-year-old son faced homelessness after bouncing around and living with friends.

They set rules, such as no guests were to be allowed when the parents weren’t home, that the parents have the final word on house rules, that the son would get a job, pay his own way, and “equip himself for the future.”

While things were difficult at first, the author notes, their son has generally followed the rules and is growing more independent.

“For the first time, (our son) is making his own doctor appointments, paying his bills and taking charge of his life. In the past, we would have done all of these for him. Our decision to maintain a `hands-off’ policy has nudged Brad toward greater independence.”

Perhaps having an adult child move home will present you with an opportunity to get them thinking about long-term saving.

If your child does not have a pension plan through work, the Saskatchewan Pension Plan may offer a helping hand in the savings department. Members decide how much they want to contribute annually – the plan is open to any Canadian with available registered retirement savings plan room.

Members can also transfer funds into SPP from any RRSPs they may have to consolidate the nest egg.

SPP does the heavy lifting from there, investing all contributed funds in our professionally managed, low-cost pooled fund. When it’s time to retire, member options include the security of a lifetime monthly annuity payment or the more flexible variable benefit.

Check out SPP today!

Join the Wealthcare Revolution – follow SPP on Facebook!

See Canada first – staycations popular amid U.S. trade tensions

Ever since trade tensions, increased scrutiny at the U.S. border, and annexation talk, many Canadians have dropped plans to go south of the border. A lot of people are now seeing more of their home and native land.

Save with SPP took a look around the Interweb to see what people are saying about the ultimate made-in-Canada holiday – the staycation.

The lack of Canadian visitors to the U.S. is having an impact, reports Forbes.

“One year into a boycott of U.S. destinations, Canadian travelers have cost the American economy $4.5 billion—and show no inclination of returning in 2026, as trips to the U.S. took another tumble in January,” the magazine reports.

Road trips, the article continues, were down 27 per cent in January 2026 compared to one year earlier. “There was also an 18 per cent year-over-year decline in air travellers from Canada in January 2026,” the magazine notes.

Visits by Canadians to the U.S. dipped by four million in 2025 – a drop of 22 per cent, Forbes adds.

The reasons for the decline, Forbes reports, are political.

“The relationship between Canada and the U.S. has been strained by President Donald Trump’s hefty tariffs on the country’s goods and repeated threats to make Canada the 51st state. One year ago, after Trump announced a 25 per cent tariff on Canadian goods entering the U.S., outgoing Canadian Prime Minister Justin Trudeau urged citizens to reconsider visiting the U.S. and travel domestically instead,” the article notes.

And it appears Canadians are doing just that.

The CBC reports that Canadians travelling within Canada could create a domestic economic boon.

Canadians are dropping plans for “a Kentucky bus tour… a five-day cruise to Alaska,” and “a multi-state road trip” to instead travel in their home country.

“`With everything going on in the United States at the moment, it doesn’t sit well with me to be putting our hard-earned money into their economy,’ Michelle Gardner, a B.C. resident who recently cancelled a U.S. spring break trip,” states in the CBC piece. In the end, her family toured Alberta, including a stop at the famous West Edmonton Mall.

To that end, the report continues, “provinces and territories are seeing increased interest from Canadian tourists — and they’re looking to capitalize on that momentum.”

“`With that increased national pride and sense of wanting to spend dollars here, there’s a real opportunity to get more of our provincial residents and national residents coming to different parts of the province, Jonathan Potts, CEO of Tourism Saskatchewan,” tells the CBC.

Brian Gallaugher, 66, tells the CBC he scrapped plans for a Kentucky trip and instead will tour through “eastern Ontario and Quebec.”

Discussing the 51^st state talk, he adds that “we really don’t plan on going back to the States until that kind of rhetoric stops,” the CBC notes.

Tourism industry operators are seeing a jump in bookings, reports the National Post.

The Clements family, who operate a 100-cottage resort near Ontario’s Sandbanks Provincial Park, saw bookings jump 87 per cent last year after the first presidential remarks about Canada having a governor.

“As Canadians started rallying, I think we realized we’re probably going to do better than we believed,” Scott Clement tells the Post.

The Globe and Mail reports that domestic flight bookings were up nearly 10 per cent last year, and that “the number of Canadians planning travel to another province within the country increased by 11 per cent.”

There’s a lot to see without leaving Canada, Renee de Ronde of Burlington, Ont. tells the Globe.

“You could spend a lifetime exploring Canada and barely scratch the surface,” she states in the article.

The Globe notes that “online searches for domestic stays by Canadians on Airbnb’s platform climbed nearly 20 per cent year-over-year” in 2025 compared to the year before. Locations most frequently searched include “Comox-Strathcona, B.C., as well as Quebec City, Waterton Park, Alta., and Moose Jaw,” the Globe reports.

Canadian air carriers, the newspaper adds, are adding more in-Canada flights and are cutting back on flights to the U.S.

In Ontario, reports the CBC, restaurant and hotel groups are calling on the province to restore an in-province travel credit that was introduced during the pandemic.

So, consider seeing a little more of your own country to help boost our economy, and your knowledge of the sights and sounds of beautiful Canada.

Travelling is something we all expect to do in retirement – but it generally costs a few bucks to gas up the car, jump on a train or bus, or fasten your seatbelt aboard a jet plane.

It can be difficult to put away money for the future when you are in your younger working years. But the Saskatchewan Pension Plan makes things easy for you. You decide how much you want to save, and we do the rest – investing your savings dollars in our low-cost, professionally managed pooled fund.

At retirement, your savings can be turned into retirement spending money in several different ways, including the security of a monthly lifetime annuity payment, or the more flexible Variable Benefit.

Check out SPP today!

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Can going down to one vehicle be a savings strategy?

You’ve both logged off at work for the last time – no more driving to work, getting stuck in traffic, paying for parking passes, and fueling up all the time!

But now that you’re on a lower retirement income, can your household afford to have more than one vehicle on the road? Save with SPP took a look around to figure out the pros and cons of going down to one vehicle.

The Money Crashers blog notes that the cost of running two cars, “based on 2019 calculations from AAA (in the U.S.)… could be anywhere from $12,120 to $25,114 per year.”

Could you save by going to one car, the article asks. “The answer to that question is a definite maybe,” Money Crashers reports.

First, the article explains, you’ll get some cash by giving up your second car.

As well, getting rid of an extra vehicle “allows you to reap ongoing savings year after year. The exact amount varies based on what car you have and how much you use it,” the article continues.

How much you’ll save depends on how much the second car is costing you, the article notes.

If there is a loan to pay off for the car you’re selling, you might not see as much money in your pocket from selling the vehicle. However, even so, paying off the loan could save you around $500 per month or $6,000 per year, the article explains.

Other savings – which depend on your individual circumstances – include fuel, insurance and maintenance. You will also save on registration and licence costs, the article notes.

Throw in tolls and parking and the savings can truly add up.

There can also be a downside, the article concludes.

“Giving up a car can also create new costs. You need another way to get around, and in some cases, that could mean using your remaining car more,” the article notes. You might be able to offset that through carpooling, using public transit, walking, or biking, the article adds.

The Arner Adventures blog offers up some more thoughts on the topic.

“Becoming a one-car household can be less overwhelming than you think. If you have always had your own car and are not sharing one, you may feel a sense of loss or a lack of independence,” the blog begins.

“Fear not. You truly can live without a second vehicle. Most Americans own only one car. Only 33 per cent of car owners own two vehicles,” the blog notes.

The blog authors then list their reasons for going to one car – “having two cars increased our carbon footprint,” they write. Going to one vehicle thus had environmental benefits.

“We figured we would save money significantly on auto insurance, maintenance, fuel, and auto issues as they arise. The average amount we would save a year is roughly $2,000 per year. We do not have car payments, so if you do, then add those to your savings. The relief of not having a car loan could be its own category,” the authors report.

They also say they have had “more adventures” by going to one car. Say what? Let’s read on.

“By exploring alternative transportation, we found that the Amtrak railway system is an option for us. When thinking about upcoming plans to travel, we know that we can cut our travel costs by utilizing the train system. How fun is a train ride?! It’s an adventure, we will tell you that,” the blog enthuses.

It’s an interesting topic. For sure you have to cooperate more with your partner on who needs the car to go where, and when. But the money you save can really add up.

And a nice place to stash that extra cash could be your retirement savings account.

If you lack a workplace retirement plan, and are trying to save for your retirement on your own, a great partner can be found via the Saskatchewan Pension Plan. SPP is open to any Canadian with unused registered retirement savings plan room. You can contribute any amount each year, up to your RRSP limit.

As well, you can transfer in any amount from other RRSPs you might have.

SPP then takes on the hard part – investing your precious savings dollars in our low-cost, professionally managed pooled fund. At retirement, SPP helps you turn those savings into retirement income, via such options as our lifetime monthly annuity offerings or the more flexible Variable Benefit.

Check out SPP today!

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Saving trends, strategies and other ideas as we sail into 2026

In this resolution-focused time of a new year, saving more is tops on the list for many of us.

But how do we eke out savings from our already-tight, post-holiday budgets? Save with SPP decided to take a look around to see how people are planning their saving strategies for 2026, focusing on new trends and ideas.

At MoneySense, there’s agreement that saving is difficult “with budgets tight and inflation driving the cost of groceries and everyday necessities higher.”

But the article suggests that making “small monthly changes can add up over the year.”

Certified financial planner Kelly Ho tells the publication that few people have a good handle on how much they make, and how much they spend. “It’s just a matter of really understanding how much money is coming in and how much is going out,” she tells MoneySense.

Once you have that nailed down, you can increase what’s left after the bills are paid through mini-cuts to your budget. Have a good look, Ho suggests, at what you are paying out in subscriptions for TV shows, music, and other services.

These invisible little costs — $10 here, $15 there – can add up to a hefty burden on the credit card, the article explains. If you cut a service – even just $10 a month – the savings can add up. “You multiply that by 12 months, multiply that over several years, plus, you know, potential investment growth. That’s a lot of money on the table,” Ho tells the magazine.

Another good idea in the article is being “intentional” about what you spend when you are on vacation. “Every single individual I’ve spoken to has underestimated the cost of travel,” she tells MoneySense. “I don’t know if many people actually keep track of what they’re spending when they’re there at their destination.” So, don’t stop budgeting just because you’re on vacation – establish a budget and stay within it.

From This Is Money in the U.K. come three more ideas.

There’s the 100-envelope challenge. You get 100 envelopes, the article explains, and number them from one to 100.

“Each week, savers pick out two envelopes at random and put the amount shown on the front into them. In 50 weeks, they would have saved £5,050 (or in Canada, that much in dollars),” the article explains – an amount that could “turbocharge” your savings.

Other 2026 trends include “no spend” and “no buy” challenges, the article continues.

“As part of the no-spend challenge, people will go through strict periods of not purchasing anything beyond absolute necessities or use up all the products or food they already own before replacing them as a way to save money,” the article tells us.

“There is a ‘no buy’ thread on social media platform Reddit where revenge savers share the savings they have made from limiting their spending,” the article continues.

“Revenge saving?” Let’s read on.

“It involves carefully tracking how much you are saving, as with normal budgeting activities,” the article notes. “But revenge saving goes a step further by deliberately not spending and taking part in savings challenges to build up a pot of savings.”

So, a savings plan enhanced by conscious non-spending challenges. Wow.

The Dallas Express, via Yahoo! Life, offers up some more strategic saving thoughts.

There’s the classic, sound idea of “automating savings transfers,” the “setting up… of automatic moves from chequing to savings right after payday – even as little as $10 or $20 per paycheque – helps `pay yourself first’ without relying on willpower.”

What about cutting back on food delivery?

Chicago certified financial planner Valerie Rivera tells the Express “after housing and childcare, the third-largest expense I often see is food delivery… Think about what would happen if you redirected $50 every month that was going to takeout and put it in a savings account.”

Final ideas from the Express including shopping more often at thrift stores, reducing electrical costs by such measures as switching to LED bulbs, and building an emergency fund.

We can add two more that worked for us. We had a variable mortgage. When interest rates went down for our second five-year term, we kept paying what we had paid before at the higher interest rate. We didn’t feel any pain but were paying the mortgage off more quickly.

Another tip, which we picked up from doing this blog, was the idea of simply taking a set percentage of your take-home pay off the top of every paycheque and putting it into savings. We started small, at three per cent, and increased the amount when we could. Then you live on the 97 per cent. It has worked.

If you are saving for retirement via the Saskatchewan Pension Plan, the idea of paying your future self first can easily be arranged. SPP permits pre-authorized contributions from bank accounts or even credit cards.

That way, you are directing savings dollars in a “set it and forget it” way to SPP, who will then grow those savings by investing them in our low-cost, professionally managed pooled fund. At retirement, you can collect a lifetime monthly income via an SPP annuity, or opt for the more flexible Variable Benefit.

Check out SPP today!

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