5 Smart Financial Moves Every Canadian Woman Should Make This Year
Written by Krista Lee Hynes, CFP, CFC
Follow these 5Cs to make 2026 a year of financial clarity.
It is estimated that by 2028, Canadian women will control nearly $4 trillion in assets, almost doubling the $2.2 trillion they are currently in control of. Women’s wealth is growing through increased workplace participation, entrepreneurship and investments. While this is a wonderful statistic, it’s not without its challenges as historically women have been kept out of a lot of conversations about finances.
The biggest obstacle for Canadian women and building wealth is the lack of solid guidance and the sheer amount of chaos in our lives today. It’s hard enough to try and get a new coffee order right under pressure, let alone make long lasting financial decisions. Time and time again, women are more likely to stick with what they know, cash savings, low risk, or advice from “that guy Carl recommended at the bank.” And while I’m sure Carl is lovely, this default method of handling finances steals growth and caps prosperity. So, how do we stop settling? Clarity. Clarity is the seed that blossoms into confidence, and confidence is the magic ingredient to change from auto-pilot to author of our own financial destiny.
As a Certified Financial Planner and financial literacy advocate, I’ve worked with women of all stages of life, helping them understand their money, build sustainable wealth, and take control of their financial futures. My approach centres around education, clarity, and confidence to make empowered decisions that lower financial stress and pump up that Wealthy Woman energy! These are my 5Cs to make 2026 a year of financial clarity.
Crave Content
Your first move is to load up that playlist. Your algorithm is about to get an overhaul. There is solid educational content out there if you know where to listen. E books and podcasts are a great way to engage in financial literacy. Walking, school drop off, on the way to work, at the gym - the beauty about audio content is it can be consumed on the move. Make sure the source is Canadian and make sure it is talking about topics that meet you where you are. For example, it’s not beneficial to take in a series about how to build and re-balance a portfolio when you’re just cutting your teeth on investing. A few of my recommended podcasts and ebooks creators are Preet Banerjee, Money School Canada, David Chilton of The Wealthy Barber, Chantel Chapman The Trauma of Money: Mapping Compassionate Pathways to Healing Financial Trauma and Disempowering Financial Shame
Click Smart
The next move would be to use your social media accounts for power sourcing. “Finfluencers” of late can genuinely be the bane of a financial professional's existence. Unfortunately, the industry is NOT regulated so socials are flooded with wild plots, eye brow raising schemes and watercooler commentators. However, much like cleaning out the friends list after the high school reunion, following the people you want to listen to and learn from can be rewarding and empowering. You can feel very confident hitting that follow button on any of the accounts from the great minds listed above. Other likeables are Get Smarter About Money, Shannon Lee Simmons, New School of Finance and Jessica Moorhouse.
Control Cash Flow
The 50/30/20 pay check is the hat trick of financial power plays. This is a fool proof way to align spending, keep household expenses in check and reduce “drip” (waste) spending. 50% of each paycheck is held for household bills. Regardless of frequency or timeline of bills. 20% goes towards family needs like extra-curriculars, retirement planning and insurance. 30% goes towards fun, like weekly entertainment, travel and short term savings goals. This simple math reframes budgeting in a small enough lens that can be applied to steady income, hustle cash, bonuses and variable income like self employment or commission.
Curiosity
ASK ALL THE QUESTIONS. Transparency is key in financial relationships. There are tons of people in this industry who know the financial product, not the wealth advice. Without questions and clear strong communication habits, you cannot build trust. And you would never build a partnership with someone you don’t trust, right? Too often society puts professionals in a position of power simply due to title alone. But trust should never be granted, it must be earned. So, if you are going to seek an advisor or planner to help you navigate your finances, ask the questions. Start by asking, “How do you get paid?” “What are your credentials and certifications?” (look for ones like CFC(™) CFP ® CPA ® “What is your planning/advice process?” And make sure they ask you lots of questions too. A good first meeting should be 80% question asking!
Confidence
And here we are. It all builds towards this. You have to enter into financial empowerment with the knowledge that you are worth it. This is YOUR money. Spending means giving your money to someone else. Saving means working towards your goals. This is your life and your future. Financial clarity is the ultimate self care. Know your worth and give yourself the time and resources you deserve.
You already have everything in you to build and enjoy wealth. It’s ok if you felt overwhelmed up to now, women have been under- taught how to hone financial skills. This is the year you lean into our true north strong and free anthem because money is more than numbers. Your wealth is in your independence, choice and the freedom to shape your life.