r/MooseMoney

Stefani tested both cards by using them for everyday spending and comparing the rewards.

Neo earned more cash back in her test, but only because her spending lined up with Neo’s targeted cash back categories.

She earned $2.55 with Neo versus a projected $1.85 with EQ Bank, even though she actually spent more money with EQ. Neo pulled ahead because she used it more for groceries and gas, where Neo offers 1% cash back.

But EQ Bank is simpler. It gives 0.5% cash back on everything. There’s less guessing about categories, partner merchants, or how a store will be coded. That makes EQ better for general spending.

Neo is stronger if you regularly spend on groceries and gas, but the merchant coding isn't exactly intuitive. A butcher, dollar store, small market, or convenience store may sell groceries, but still not count as a grocery store for cash back.

Stefani says the best strategy for her was to use Neo for groceries and gas, then use EQ Bank for everything else.

Both are prepaid cards, so you’re spending your own money instead of borrowing. Stefani also noted that both accounts had a delay before transferred money became available, so neither is ideal if you need instant access to newly moved funds.

For Stefani, Neo wins for targeted spending categories. EQ wins for simplicity.

Using both might be the best move if you want to maximize cash back without using a credit card.

Bought this pack of bacon a while ago and just discovered it’s 40g short. So sick of this shit. Didn’t these big chain stores just get busted AGAIN for this shenanigans? They shorted me 10% of the product, how is that not theft?

Do the boring stuff now so future you gets the reward!

This girl gets it.

She's living at home and making smart money moves that are already paying off. She has no credit card debt, uses two basic credit cards, has an 850 credit score, $20K savings in her FHSA, and a car loan that’s almost paid off.

Budgeting, saving, and investing aren't always fun, but they're fundamental to financial wellness.

Those boring money moves compound and give future-you more choices.

And more choices = more freedom

What boring financial thing are you doing right now that your future self will thank you for?

It may be a solid option if managed well like the CPP. Curious how others view its potential risk and returns.

Erin compared 88 food items at Dollarama against Walmart, No Frills, and Food Basics. Only 36 out of 88 items were actually cheaper at Dollarama, which works out to 40.91%. Even if you include the three items that tied in price, that only rises to 44.32%.

And it's mostly to do with package size.

Dollarama often sells smaller versions of brand-name items, so the sticker price looks cheap, but the price per 100g or 100ml can be worse than grocery stores. For example, Honey Nut Cheerios were 272g at Dollarama compared with 430g at Walmart/Food Basics, and Kraft Cheese Whiz was 250g at Dollarama versus 450g elsewhere.

Some of the best Dollarama deals were tomato paste, Campbell’s Cream of Mushroom soup, strawberry jam, Quaker Harvest Crunch, Joe Louis, sardines, pickles, Starburst, table salt, and Viva Puffs.

Some of the worst buys were peppercorns, mayo, soy sauce, peanut butter, mustard, ketchup, granola bars, pudding cups, Jell-O, and Worcestershire sauce.

Dollarama still can be great for certain pantry items, small households, or when you only need a little bit. But if you’re feeding a family or already going to a grocery store, the better deal is often Walmart, No Frills, or Food Basics, especially when sales and store brands are involved.

This software developer makes over $100K per year and has a near-perfect credit score.

He said financing a $42,000 car was the worst financial decision he ever made.

And his best financial decision is actually an ongoing habit of setting money aside from every paycheque.