Building Wealth One Smart Habit at a Time: My Top Money Moves for 2026
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As your friendly neighborhood mortgage broker, I’ve seen it all—clients who stress over every mortgage payment and others who glide through renewals with confidence. The difference? Good money habits.
These aren’t flashy strategies or crypto moonshots. They’re simple, consistent practices that compound over time, just like interest on a well-structured mortgage. Here are the habits I teach my clients (and practice myself) that create financial freedom:
1. Track Your Credit Like It’s Your Job (Because Credit = Opportunity)
Credit Karma and Borrowell are non-negotiable. Set up alerts for score drops and review your reports monthly. Why? Your credit score determines everything from mortgage rates to rental applications.
Pro tip: Dispute errors immediately. I had a client discover a collections account that wasn’t theirs—fixing it dropped their mortgage rate by 0.25%, saving $12,000 over 5 years.
2. Budget Like a Boss (Apps Make It Easy)
Forget spreadsheets. Use YNAB (You Need A Budget), PocketGuard, or even Monarch Money to categorize spending. The goal? Know exactly where every dollar goes.
Real talk: Track for 30 days and you’ll discover “mystery spending” eating 15-20% of your income. Redirect that to debt or savings instead.
3. Max Out Your Tax-Free Growth (RRSP + TFSA = Magic)
2026 Contribution Limits (estimated):
TFSA: $7,500 (cumulative room grows annually)
RRSP: 18% of 2025 earned income, up to $33,540
The math: $500/month to TFSA at 7% average return = $1.2M in 40 years. That’s mortgage-crushing power.
Strategy: Contribute bi-weekly. Automate it. Mortgage payments are automatic—why not wealth-building?
4. Emergency Fund = Financial Superpower
Rule: 3-6 months of living expenses in a high-interest savings account (currently 3.5-4% rates).
Why it matters: Life happens. Job loss, car repairs, medical emergencies. Without this buffer, you’re forced into high-interest debt when you need cash most.
Example: Client lost their job unexpectedly. Their 6-month emergency fund covered mortgage payments while they job hunted stress-free.
5. The 50/30/20 Rule (Modernized for Canada)
50% Needs (rent/mortgage, groceries, utilities, minimum debt payments)
30% Wants (dining out, entertainment, travel)
20% Future (savings, investments, extra debt payments)
Canadian adjustment: With high housing costs, aim for 60/25/15 if you’re in the GTA or Vancouver.
Putting It All Together: Your Transformation
Let’s pretend you came to me overwhelmed—high-interest credit card debt, no savings, and a looming mortgage renewal. Here’s what’s possible within 6 months:
✅ Credit score jumped from 620 to 745 (tracked via Borrowell)
✅ Built $8,500 emergency fund
✅ Maxed your TFSA with auto-contributions
✅ Used YNAB to cut “mystery spending” by $450/month
✅ Qualified for prime mortgage rates instead of B-lender pricing
Result? Now you’re renewing your mortgage at 0.5% lower rate, saving $2,100/year. It’s really possible.
Your 30-Day Money Habit Challenge
Day 1: Download Credit Karma + Borrowell, dispute any errors
Day 7: Set up TFSA/RRSP auto-contributions ($100/week minimum)
Day 14: Open high-interest savings, transfer $1,000 emergency starter
Day 30: Install budgeting app, track every dollar for full month
The compound effect: These habits create momentum. Small wins build confidence. Confidence leads to better decisions. Better decisions build wealth.
Want personalized guidance to implement these habits or see how they’ll impact your mortgage approval? I’m Mr. Mortgage (Kechanth Kannan) and I help clients build the financial foundation that makes homeownership sustainable.
📸 Instagram: @_mrmortgage
Good money habits aren’t about perfection—they’re about progress. Start today, thank yourself tomorrow.
