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  • Step 1 of 6

    What are you saving for?

    What are you saving for?
    We're here to help. CIBC advisors can help you with a personalized savings plan suited to your financial situation.
    Vacations can be expensive, but there are ways to lower your costs. If you have a CIBC Aventura® credit card, redeem Aventura Points for flights, hotels and vacation packages.
    If you're handy, do it yourself. Buy your own materials and tackle small projects around your home.
    Sometimes 0% financing can be an attractive offer, but read the terms and conditions. You pay no interest, but you may not qualify for rebates or other dealer incentives.
    Set a budget and list all your wedding expenses, such as the wedding planner, caterer and DJ. It'll show you how much you need to save, and where you may be able to cut costs.
    Save now so you won't pay later. If your down payment is more than 20% of the property price, you can avoid mortgage default insurance.
    Save on the go. Register for mobile alerts, and manage your savings goals on your phone using mobile banking.
  • Step 2 of 6

    How much do you want to save?

    Consult multiple sources and factor in any discounts before setting your savings goal.

    Check out online travel agencies, discount flight apps and home-sharing sites for deals.
    Focus on renovations that increase your home's resale value. Fix up your kitchen or remodel your bathroom instead of installing a pool.
    Trade in your old vehicle to lower your costs. Check the Canadian Black Book and local car listings to find out what your car is worth.
    Find ways to cut wedding expenses. Reduce your guest list, make your own invitations and scour local buy-and-sell listings for decor.
    If you're a first-time home buyer, you may be able to borrow money from your RRSP to help raise your down payment.
    Once you set your savings goal, decide how much you can cut back every month, then set up automatic deposits into a savings account.
  • Step 3 of 6

    When do you plan to reach your savings goal?

    Choose a date and we'll show you how much you need to save each month to meet your goal.

    Set small goals. This is a great way to track your progress and to keep you motivated to reach your target date.
  • Step 4 of 6

    How much have you saved?

    Tell us how much you've already saved. Include what you’ve saved in your TFSAs, GICs and bank accounts.

    Find ways to maximize your savings. Move your money into a savings account or GIC to earn a higher interest rate.
  • Step 5 of 6

    How much do you want to save every month?

    Enter your savings goal. We'll show you how long it'll take to get there.

    Pay yourself first and make saving a priority. Set up automatic transfers to save a portion of your paycheque, hassle-free.
  • Step 6 of 6

    What's your investment profile?

    How much risk you're willing to take helps determine your savings choices. Use the default interest rate, or enter a new one, and use the slider to select your risk tolerance.

    Check rates Opens a new window in your browser.
    Factors that help determine your risk tolerance include your age, savings goals, investment experience and how much money you can afford to lose. If you're not sure, check with a CIBC advisor.

Learn more about saving

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