5 Smart Money Moves to Make This Spring in Canada
Spring in Canada means longer days, warmer weather, and the satisfying feeling of starting fresh. While you’re swapping winter boots for sneakers and opening up the windows, it’s also a perfect time to give your finances a seasonal refresh.
Here are five smart money moves to help you reset, refocus, and get your financial house in order this spring:
🌱 1. Do a Financial “Spring Cleaning”
We declutter closets—why not do the same with our money?
Review your budget: Are your spending habits still aligned with your goals? Update your budget for the rest of the year.
Cancel unused subscriptions: Streaming services, apps, or gym memberships you forgot about? Time to cut the extras.
Organize your digital financial life: Switch to e-statements, sort your files, and back up important documents.
This quick refresh can help reduce stress and reveal opportunities to save.
📆 2. Prep for Tax Season (Deadline: April 30)
For many Canadians, spring means one big thing: taxes. Whether you’re self-employed or salaried, now’s the time to get organized.
Gather your documents early: T4s, RRSP receipts, medical expenses, tuition credits—get it all ready.
Look for missed credits: Don't overlook things like the Canada Workers Benefit, Home Accessibility Tax Credit, or digital news subscription credit.
RRSP vs. FHSA: If you’re still saving for a home, the First Home Savings Account (FHSA) might be better suited for your goals than traditional RRSP contributions.
Consider using a tax software or speaking to a professional to make sure you’re maximizing your refund (or minimizing what you owe!).
🏡 3. Take Advantage of the FHSA
Launched in 2023, the First Home Savings Account (FHSA) is a game-changer for first-time home buyers.
Tax-deductible contributions (like an RRSP)
Tax-free withdrawals for your first home (like a TFSA)
Contribute up to $8,000/year, up to a $40,000 lifetime max
If you’re hoping to buy a home in the next few years, spring is the perfect time to open an FHSA and get that first contribution in early.
🌞 4. Plan for Summer Expenses Now
From kids’ camps to cottage rentals and road trips, summer spending can sneak up fast.
Start budgeting now for big summer expenses.
Book early to lock in lower rates for travel and accommodation.
Create a “summer fund” and set aside a little each week.
A little planning now = a lot less financial stress when July rolls around.
💸 5. Declutter and Sell for Extra Cash
Spring cleaning can actually help your budget.
Sell gently used items on Facebook Marketplace, Kijiji, or local buy/sell groups.
Host a garage sale or community swap event.
Donate what you don’t need and claim a tax receipt if it’s a registered charity.
Even $200–300 from decluttering can go straight to savings or summer fun.
🌟 Final Thoughts
Spring is a season of renewal—and your finances deserve the same energy. Whether you’re gearing up for tax time, planning a summer getaway, or saving for your first home, now is the perfect time to reset and refocus.
Small, intentional money moves now can lead to a stronger, more confident year ahead.
👉 Need help building a spring budget or exploring the FHSA? Drop a comment or get in touch—I’m here to help!
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