Don't have an advisor?
How to save money in times of uncertainty
April 06, 2026
By Sun Life staff
You may be thinking about your finances and asking yourself, “Can I still save money when I don’t know what tomorrow has in store?” In a word: yes. Here’s how.
Inflation, market volatility, politics and world events: we don’t have control over them, but they can transform our savings and investments. They might also shake up our financial habits. Growing economic uncertainty is causing more than 4 out of 5 Canadians to change their financial outlooks, according to a study from the Chartered Professional Accountants (CPA).
Are you worried about your investments or retirement savings? Maybe you’re thinking about putting more money into an emergency fund.
Money saving tips during a crisis: how to do it
This kind of economic uncertainty keeps many people up at night. But before stress takes over, take some deep breaths, get informed and review your finances.
Stay calm and plan
- Be patient. Impulsive financial decisions rarely pay off, especially during uncertain times.
- Think carefully before making any decisions. Sleep on your choices before taking action.
- A trusted advisor can provide objective guidance during market fluctuations, helping you make informed decisions and avoid costly mistakes.
Review your savings and investments
- Create or review your financial roadmap to stay focused. It’s best to personalize your needs and goals with an advisor’s help.
- Set up automatic withdrawals to save consistently – and without the stress. Choose a fixed amount and frequency that works for you.
- Invest in RRSPs and TFSAs early to maximize growth and combat the effects of inflation.
- Resist the urge to make impulsive RRSP withdrawals.
A budget is a powerful tool to take control of your finances. It helps you keep track of your spending, plan for your needs and work towards your goals. Try Sun Life’s budget calculator – and start saving more!
Get some financial advice
When it comes to financial decisions, trust the experts. Instead of relying on internet searches or social media, speak with someone qualified who understands your individual situation.
An advisor can help you stay focused on long-term goals, no matter what happens in the markets.
This article is meant to provide general information only. Sun Life Assurance Company of Canada does not provide legal, accounting, taxation, or other professional advice. Please seek advice from a qualified professional, including a thorough examination of your specific legal, accounting and tax situation.
