Best Financial Apps for Canadian Digital Nomads

Updated on October 5, 2019
Matilda Woods profile image

Matilda is a part-time digital nomad and aspiring professional suitcase packer.

Budgeting is Hard!

Budgeting and managing your money is not easy and it gets even more complicated as a digital nomad and, if you can believe it, even more complicated if you're a Canadian. Most companies pay digital nomad in US dollars, euros, or Chinese yuan there are countless apps that don't even work for Canadians!

So, if you are a digital nomad from Canada, here are the best financial apps to help you make your money work for you.

Your phone does everything else for you, why not let it help manage your finances as well?
Your phone does everything else for you, why not let it help manage your finances as well? | Source

Tangerine

Tangerine is the new face of ING Direct. They provide the same services as other major banks, but deals almost entirely online.

Why I Love Tangerine

  • Because they deal mostly online, Tangerine avoids cost that are central to traditions banks like, brick and mortar stores and bank tellers. The money they saves goes back to the customer in the form of better interest rates and lower fees. That means, more money for me.
  • Although there are no tellers or advisors to see in person, I actually find banking with Tangerine much simpler than with a traditional bank. They have an easy to use interface and they make moving your money super easy.

If you want a free $50 when you deposit $250 within 60 days, use the code: 49455300S1 when you sign up.

TransferWise

TransferWise is an online money transfer service which lets users hold money in multiple currencies. They are also promising a debit card for Canadians which would let us spend money fluidly in multiple currencies.

Why I Love TransferWise

  • I get paid by VIPKID in US dollars and need to convert it to Canadian to use it in my account. Before I started using TransferWise, my bank would charge me nearly $100.00 in bank fees! CAN YOU BELIEVE THAT?!?! My fees from TransferWise have been next to nothing, most months it only ends up being a dollar or two!
  • I am so excited for TransferWise to launch their debit card in Canada! I guess I can't say that I love this yet, but if the card works the way they say it will, it will change the way I bank and travel.

To get your first transfer free, use this link!

PayPal

You probably already know about the popular online money transfer service Paypal, but I had to include it in this list.

Why I Love PayPal

  • I can't tell you how many times my PayPal account has saved my butt when I needed to buy a plane, train, or bus ticket in a foreign country. Using debit or even credit card in a different country is always hit or miss and having that third option has been a lifesaver for me more times than I can count.
  • Being a digital nomad means that I often get paid through a money transfer service instead f through a bank. Guess which service almost always shows up?
  • Finally, I really appreciate the security I get when using PayPal. I use a lot of coffeeshop and airport WIFI and I am not exactly religious about using my VPN. Under those circumstances, I will also choose to use PayPal instead of directly using my bank account.

Mylo

Mylo is an app that rounds up your spare change and invests it for you and honestly, it has changed the way I save my money.

Why I Love Mylo

  • My favorite thing about Mylo is that it gives those of us without much money the chance to let what spare change we do have, grow.
  • Mylo charges only $1/month for a basic account and $3/month for a premium account. I love their premium account because it allows me to put my money in a TFSA and to choose an SRI (Social Responsible Investment) portfolio. It's important to me to make sure that my money is supporting things I believe in and is divested from fossil fuels and $3/month is a small price to pay for that peace of mind.

To start off with a free $5 to invest, use this link.

Wealthsimple

Wealthsimple is an online investment fund that aims to make investing simple.

Why I Love Wealthsimple

  • Wealthsimple actually does make investing easy and I like that robo-investors have a proven track record.
  • I love that my Wealthsimple account is tailored to me. I can tell them how much risk I can deal with and choose to invest my money in a socially responsible manner that is specific to what I think is most important.

If you want to give Wealthsimple a try, click here.

Mint

Mint is an all around budgeting app that you can use to keep track of any and every expense.

Why I Love Mint

  • Mint is the best budgeting app I have ever used. Personally, I find it simple, yes comprehensive.
  • A lot of budgeting apps seem like they were made for Americans and only Americans, not Mint. I've never had an issue adding my Canadian cards and that makes everything simpler!

Well, fellow Canadian digital nomads, I hope these apps make dealing with your money simpler and help you all get rich!

This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.

Questions & Answers

    © 2019 Matilda Woods

    Comments

      0 of 8192 characters used
      Post Comment

      No comments yet.

      working

      This website uses cookies

      As a user in the EEA, your approval is needed on a few things. To provide a better website experience, toughnickel.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

      For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://toughnickel.com/privacy-policy#gdpr

      Show Details
      Necessary
      HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
      LoginThis is necessary to sign in to the HubPages Service.
      Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
      AkismetThis is used to detect comment spam. (Privacy Policy)
      HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
      HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
      Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
      CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
      Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
      Features
      Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
      Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
      Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
      Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
      Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
      VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
      PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
      Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
      MavenThis supports the Maven widget and search functionality. (Privacy Policy)
      Marketing
      Google AdSenseThis is an ad network. (Privacy Policy)
      Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
      Index ExchangeThis is an ad network. (Privacy Policy)
      SovrnThis is an ad network. (Privacy Policy)
      Facebook AdsThis is an ad network. (Privacy Policy)
      Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
      AppNexusThis is an ad network. (Privacy Policy)
      OpenxThis is an ad network. (Privacy Policy)
      Rubicon ProjectThis is an ad network. (Privacy Policy)
      TripleLiftThis is an ad network. (Privacy Policy)
      Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
      Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
      Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
      Statistics
      Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
      ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
      Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)
      ClickscoThis is a data management platform studying reader behavior (Privacy Policy)