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Financial planning

What you need to get started Add to ...

Whether you choose to work with a financial planner or create your own plan, there are 3 things you’ll likely need to get started:

  1. Copies of all documents that relate to your financial situation, including your household budget, savings, debts, assets (such as your home), taxes and insurance
  2. A calculator
  3. A spreadsheet to capture your current numbers

Figure out

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  • What you own – This includes big items like your home, car or boat, savings and investments. You’ll find this information in bank and investment statements, retirement savings and other pension papers, and your will.
  • What you owe – This includes student loans, mortgage, car loan, boat loan, credit cards and other bills. Look for your mortgage records, loan papers and credit card bills.
  • What you earn – This includes your pay and other income. Look at your tax returns and pay stubs.
  • What you spend – This includes basics like food, clothing, utilities, and car costs, as well as extra expenses like eating out, insurance, health or dental bills, and money you donate. Look at your bills, receipts and credit card statements.

Content in this section is provided in partnership with Investor Education Fund, a non-profit organization founded and supported by the Ontario Securities Commission that provides unbiased and independent financial tools to help Canadians make better money decisions. To find out more, go to: GetSmarterAboutMoney.ca



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