Having an automatic monthly RRSP deduction gets your money working sooner for you than contributing one large deduction at the end of the year, and may make your retirement savings grow larger as well. If you already do have automatic deductions, try and increase it every year. Even increasing by $5 a month can make a large difference to your retirement savings over time.
For example, if you make monthly contributions to your RRSP, you get the benefit of having your money work for you every single month, which means you will have more when you retire than if you just waited till the end of the year to make one contribution of the same amount you did with all those monthly contributions.
But if you have an automatic monthly contribution, don't just set it and forget it.
Take the time to give yourself a raise.
Go back and look.
Can you make that automatic contribution a little bigger than it was last year? $5, $10, even a small amount can make a big difference.
And if you make a habit of upping those contributions each year, that means you're going to get to that retirement number a whole lot sooner.