The Best Money Saving Tools

The Best Money Saving Tools

There’s no doubt that the task of saving money is probably not everyone’s cup of tea. Cutting costs, budgeting, and saving cash for the long run can get tricky in today’s ever-changing economy.

The good news is that if you strategically maximize tight budgets through online tools, you’ll not only get significant savings but actually receive some cash back!

We’ve identified four categories of online tools that can really make a difference to your financial health: budgeting, coupons, cash back and marketplaces. If you’re conscious of what you spend, and how you spend it, you may see hundreds or even thousands of dollars saved.

Budgeting Tools

Budgeting tools are wonderful for money saving as they lay out all of your expenses in front of you- even those annoying bills that you’ve tried so hard to forget about. Being able to see where your money is going can help in cutting down costs, and also meeting monthly budgets. We’ve identified two of our favourite budgeting tools that you may want to consider: Mint and Splitwise.



Mint has become one of the most popular personal finance management tools/apps in the world with over 15 million users and excellent ratings to match. The app offers multiple services, including automatic bill payments and alerts for incoming bills, accounts charges, unusual activity, low or high account balances and more. While credit transactions are automatically tracked, the app also has space for you to manually enter cash transactions easily. That way, your account will always be a true reflection of your spending habits. Mint also has a feature that allows users to experiment with their finances to see how changes may impact their budget. If you’ve got your eye on a big ticket purchase, the app will use visuals like graphs to demonstrate how your savings and budget will look post-purchase.

It’s perfectly normal to be concerned about security when it comes to digital finance management tools. We highly recommend looking into the history of an online tool and the security they have in place before making a decision.

Budgeting tools do often require access to account numbers and banking information, but Mint has measures in place to ensure customers and their personal information will be secure. Mint’s services are protected and verified through VeriSign and TRUSTe and have additional security through RSA security. All Mint accounts must be password protected, and everything is read-only– meaning that you and unwanted visitors can’t transfer funds, close accounts or do anything else to your hard-earned money!


Photo of Splitwise logo

Splitwise is an app that caters to those who need to track shared expenses like rent, groceries, travel, utilities, or even brunch. The app is user-friendly and easily tracks who paid for what. If you cover a big tab for a group, the app will hold each party accountable for their share so you can be reassured that you’ll get repaid in full! You can send IOU emails with your running total that Splitwise conveniently calculates for you. That way, you can repay someone in large payments than multiple small payments. Splitwise is conveniently paired with Paypal and Venmo so you can quickly settle debts without the hassle of calculating (or miscalculating!) anything.

Coupon Tools

Who doesn’t love a good deal? As the digital age continues to propel online shopping, there have been many tools developed to find the best promotional codes and discounts online. Using coupon tools can save you up to 60% off of products!


Photo of Retailmenot logo

RetailMeNot provides promotional codes for all of your favourite online stores, from Best Buy to Sephora, Uber Eats and more. You can use the tool on all kinds of devices, including tablets, laptops and mobile phones. If you’re using a laptop or desktop, we recommend downloading the RetailMeNot widget so promotion codes pop up on your browser as you shop. Why spend additional money when coupon tools exist!

Cash Back Tools

The “Cashback” system has existed for some time now, from credit card purchases or incentives for purchasing big-ticket items like a new ride financed through a car loan in Toronto, or a brand new home. Now, there are sites and apps exclusively dedicated to providing cash back just for shopping online through their business. One of the most popular cash back tools in Canada is Ebates. If you use cash back systems as much as possible, your savings can definitely add up by hundreds, or even thousands of dollars!


Photo of Ebates logo

Ebates is a shopping rewards and cash back company. The company has made its platform easily accessible across all forms of devices as well as through a convenient browser button and mobile app. Customers are able to earn cash back by shopping through Ebates’ affiliated stores. They also offer discounts in addition to cash back offers.

The process of using ebates is simple! If you’re shopping in the digital world, make it a practice to always shop through ebates or other cash back companies to get the best bang for your buck. Associated retailers include Indigo, Amazon, New Balance, Tarte, Hello Fresh, Cineplex and more! If Amazon is offering 10% cash back and you spend $100, you will get $10 back. Once you make a purchase through an Ebates affiliate link, your cash back will appear in your Ebates account in approximately seven days. After the cash has been in your account for a period of 60 days, the cash will then be transferred to a PayPal account from which you can withdraw.

The best way to maximize your return is by shopping when you’ve had your eye on a product and there are special offers on ebates (for example, a cashback offer increasing from 2% to 9%).

The best part? It’s completely free to use.


The emergence of online marketplaces has been a serious game changer for those trying to cut costs. Online markets allow people to have access to all sorts of material goods that they most likely wouldn’t be able to view otherwise. Furthermore, they offer new as well as used goods at competitive prices– so if you shop right, you can even find designer goods for a steal!

Facebook Marketplace

Photo of Facebook logo

Facebook has become one of the largest one-stop-shops in the digital world and is constantly expanding its services. It’s no surprise that Facebook recently launched their own marketplace for all of its users. It’s an open exchange in which individuals can sell, trade, or purchase items within their regions.

Facebook has no role in determining prices– that’s up to the seller, or the seller can opt to set custom bids for their items. Users can use Facebook messenger to communicate with each other and arrange for pick ups/drop offs. It’s a great way to connect with your community, find incredible deals on otherwise pricey items, and promote sustainable practices through second-hand buying and selling!


Photo of Kijiji logo

A byproduct of eBay, Kijiji is a digital advertising platform available for public use. Kijiji’s 16 million users can post advertisements across a variety of categories, from electronics to furniture and clothing. Canadians can connect with each other to find the best deals on items they’ve had their eyes on forever! Kijiji is the number one classifieds site in Canada, with more than 2 new ads posted every second! The platform is available across all mobile devices.


Photo of Depop logo

Depop is a marketplace that was developed in the UK and is known for its sellers providing unique, one-off goods. Depop’s community of sellers include vintage & luxury, art, illustration, shoes, books and records vendors. Each user has their own profile showcasing the goods they have for sale, the price they have set, and shipping costs.

One downside of the app is that Depop takes 10% commission on each sale. If you have an item priced at $50, the app will automatically deduct $5 from your PayPal account (once the sale has gone through). For this reason, many people tend to price their items a bit higher to accommodate this. Listing items are free and there is no limit as to how many items one can put up for sale.

Ultimately, Depop is a great way to make some extra cash on gently used items or original artistic creations.


Photo of Bunz logo

Bunz is similar to most marketplaces, except it is predominantly used for trading. Bunz also uses its own currency, BTZ. Users can use BTZ for trades or redeem items like coffee or beer with their “shop local” merchants. It’s a fun app to use whether you’re looking to get rid of some junk, sell services like photography or baking, or see how you can trade up a cheap bottle of wine into concert tickets! By using Bunz to trade up from items you own currently, you can make a profit and therefore use the spare cash to help you save on other necessities.

Here at Car Loans Canada, we understand that maintaining financial health is a top priority. Our dedicated team works with people of all credit levels to increase your credit health through car loans in Toronto. We won’t rest until you get in the car of your dreams! If you want to learn more about the best auto loans in Ontario, contact us today.

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