“Try to save five dollars every day” is the simple but effective winning tip in a contest sponsored by the Canadian Securities Administrators, designed to get people across the country to share their good financial habits with each other.

Pamela Shaw of Kitchener, Ont. is the first winner in the CSA’s This is your life… for better or for worse campaign to increase public awareness about the importance of saving and investing. Shaw’s entry was one of nearly 3000 submitted online at www.thisisyourlife.ca, a website launched by the CSA in January.

Shaw will receive a new portable DVD player for her winning financial tip. Until the end of November, Canadians can still enter to win prizes online by sharing a tip that’s helped them practice healthy financial habits.

Some other tips submitted include:


  • Don’t put money on a credit card that you can’t pay off at the end of the month.
  • Make a budget and stick to it, but always allow for little extras and big emergencies.
  • Set up automatic savings so that you forget about it and it just grows.
  • Contribute to your child’s RESP weekly rather than in a lump sum.

The CSA created the contest in response to research showing that major life events motivate people to seek out investment information. The campaign specifically targets people who might be getting married, starting a family, planning retirement or receiving a financial windfall.

“Our message is that no matter where you are in life, it’s important to find different ways to save and invest your money,” said Jean St-Gelais, Chair of the CSA and President and CEO of the Autorité des marchés financiers.