Topic: Personal finance Understanding and overcoming financial stress
Personal finance guide for young adults ages 18 to 30
Take control of your finances with our specialized resources and solutions, designed to help you make informed financial decisions at every stage of life.
Learn the basics
Budgeting
Making a budget may not be exciting, but it’s essential to help you manage your money. A budget lets you track your income and expenses and helps you determine how much you can put aside for specific purchases or unexpected costs.
Our step-by-step guide and budget planner can help you create a budget that works for you.
Saving
Whether you want to take on a new project or build your emergency fund, saving just a small amount regularly can make a big difference. You can even schedule automatic transfers to make the process seamless.
If you don’t know where to start, read our 4 tips to save for your financial goals.
Using credit
Credit is convenient but should be used responsibly, as each loan affects your credit report. Credit reports are generated by credit bureaus and are one of the factors considered when you apply for a loan.
Getting a credit card is usually the first step in building your credit. To avoid interest charges and to protect your credit file, make sure you know how to use a credit card.
Learn more
Personal Finance: I'm in Charge
Access free online training courses to help you make informed financial decisions.
A Question of Ca$h cash
Get answers to your personal finance questions by watching these short videos that discuss saving, investing, credit and other key topics.
Youth partnerships and initiatives
Discover our varied resources to guide you through different areas of your life, from financial literacy to health and healthy lifestyles.
Pay for your post-secondary education
Getting your financing in order
Scholarships are a good way to pay for your education. You can apply for a Desjardins Foundation scholarship or one offered by your educational institution or the Quebec government (AFE).
If you need additional financing, consider options that offer favourable conditions and rates for students, such as our student loan or student line of credit. Unlike scholarships, loans and lines of credit require that you pay back what you borrow. However, their repayment conditions account for your financial situation both during your studies and after you’ve finished school.
The online module Pursuing and Financing your Studies can also help guide you toward the right borrowing solution.
Balancing work and school
Balancing a budget while staying on top of your studies isn't always easy. That’s why it’s important to track your spending, define your priorities and adjust the way you work to fit your situation.
To see how to balance your schedule, answer our online questionnaire at Jeconcilie.com External link. You can also take a look at our tips for managing your credit, savings and education.
Managing student debt
Finished your studies and concerned about paying back your student loans? Read our advice to see when and how to repay your student debt.
Embark on your career journey
Finding a job
The job market can feel really intimidating, especially at first. To guide you, the Quebec government website External link. offers resources to help you find a job, improve your skills, and discover different career paths.
You can also complete the module Earning Money with a Job to get an overview of labour standards and employee rights, plus tips for understanding your pay stub.
Optimizing your savings and investments
The start of your career is a good time to look at your savings strategy. With money now coming in regularly, you should consider contributing to plans such as the TFSA, the RRSP or the FHSA.
Investing in these plans will help your money grow over time. To learn about investment basics, complete the online module Decipher Savings and Investment and read our article Investing 101: Understanding how to grow your money better.
Investing
You have several investing options depending on how self-sufficient you are. If you’re not sure where to start, discuss your choices with an advisor. If you already have some knowledge, you can use our mobile and online services to set up an investment, with the option to ask for help if you need it. And if you’re comfortable investing on your own, our online brokerage may be right for you.
To narrow down which option is best for you, use our savings and investment assistant.
Expanding your knowledge
- Topic: Insurance Why take out life and health insurance in your 20s?
- Topic: Personal finance Preparing your income tax return
- Topic: Personal finance Contribute to your well-being with your tax refund
Reach your milestones
From moving to an apartment to buying a home to planning for a trip, adult life is full of firsts. Here are a few things to consider so you can embark on your new adventures with confidence.
Moving to an apartment
Know the real costs of being a tenant
Before looking for the perfect place, list all the expenses that will need to be added to your budget. These include rent, electricity, heating, groceries and internet costs, as well as moving expenses, furniture shopping and daily purchases.
As a general rule, you shouldn’t spend more than a third of your income on rent. If the place you like is too expensive, considering getting roommates or finding a more affordable apartment.
Need step-by-step help creating a budget and planning for your move? See our online module Moving to an Apartment.
Protect your belongings and yourself
In your budget, make sure to set money aside for tenant insurance. It covers your property against common risks and includes liability coverage. Liability coverage protects you against financial losses if you're held responsible for someone else’s bodily injury or property damage. This insurance covers you no matter where you are, even abroad.
Are you a full-time student? You may be covered under your parents’ home insurance. If so, make sure their coverage is sufficient.
Learn your rights and responsibilities
Read your lease carefully and make sure you understand all its clauses, as they are legally binding. If the apartment needs repairs, ask that a clause be added stating that the owner will take care of them.
Learn more about your rights and obligations as a tenant External link..
Buying a car
Tally up the costs
Buying a car may be your first major purchase as a young adult. In addition to paying for the cost of the vehicle and taxes, you’ll also need money for:
- Gas, or electricity in the case of an electric car
- Regular maintenance, like oil changes and repairs
- Summer and winter tires and the cost of storing them
- Car insurance, which is mandatory and calculated depending on several factors
- Fees for your permit and registration, payable each year
- Parking and permit fees
Benefits for young drivers
Get perks when you choose us for your car insurance.
- Are you under 30? Get a discount on your car insurance.
- Are you 25 or under and a caisse member? Get free roadside assistance.
Finance your car purchase
Putting aside some money is always a good strategy. Even if you apply for a loan, having funds to put directly toward your car purchase will reduce the amount you need to borrow and decrease your regular payments.
Tip
If you need financing to buy a car, ask yourself if you want a new or used vehicle and whether you want to buy from a dealership or an individual. Your answers will determine your financing solution.
Buying your first home
Advice for maximizing your down payment
Wondering how to beef up your down payment? Not sure how much is enough? See our down payment tips so you can begin the homebuying process.
Saving up for something else?
Planning a trip
Dreaming about your next trip? See which of our products and services can help you get there.
Starting a business
Go into business and build your own company, with resources to help you get your project off the ground.
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Call us if you need assistance
1-800-224-7737 This link opens your phone app. (1-800-CAISSES)
To avoid waiting on hold, you can also schedule a call.