Find some money to save

Download PDF checklist

Looking to kick-start your savings habit? Here are some places you may find a little extra cash that’s hiding in plain sight.

• Sort your files and consolidate miscellaneous savings account balances into one account. You’ll get a psychological lift by seeing one larger sum.
• Visit the Bank of Canada and search the database of abandoned accounts by entering your name and province to see if yours is one of the 1.3 million unclaimed balances worth, in total, $465 million.
• Check your files in case you have some of the $112 million in matured and uncashed Canada Savings Bonds. If you find some, call 1-800-665-8650 (for series 1-31) or 1-800-575-5151 (for series 32 and later).
• Clean cluttered closets, your garage, shed and attic, and sell useful but unwanted items at a yard sale or online.
• Take old books, CDs and DVDs to a used book and record store.
• Consider cashing in collections by visiting a dealer who specializes in that area.
• Use, trade or sell unused gift cards.
• File your taxes. If you haven’t filed a tax return for the most recent tax year (or previous years), do so now. You could have a refund owing to you.
• Request that your withholding taxes be reduced — if you contribute regularly to your registered Retirement Savings Plan (RSP) or make tax-deductible childcare or spousal support payments — by filing form T1213, Request to Reduce Tax Deductions at Source, with the Canada Revenue Agency. (Quebec residents should also file form TP-1016-V, Application for a Reduction in Source Deductions of Income Tax, with Revenu Québec.)
• Consider cashing in any unnecessary duplicate insurance policies that have a cash surrender value.

Learn how to cut costs and save more by zoning in on areas where you spend the most.