Put away a nice big rainy day fund. I try to aim for 3-6 months of full living expenses. You'll need this to fill the gaps between contracts.
For me, contracts typically last around two years or slightly less. This is probably anecdotal, so take it with a grain of salt.
It usually takes me between 2 to 4 months to find a new contract, but I work strictly remote, so your mileage may vary. Try to keep your finger on the pulse of what's going on. If you can figure out when your contract will end, this will help mitigate the amount of time you spend running on rainy day money.
Pay your income tax installments on time. Every day you go without paying them costs you interest to CRA. On the topic of CRA, get an accountant to help you figure out what you can expense. You can expense all kinds of things including utilities and part of your mortgage.
Get a GST/HST number if you're making more than 30k. You'll have to pay GST if the work you are doing is not done on a remote server out of country.
That's all I can think of off the cuff. Get in touch if you have any questions
Contacting has been a great experience for me but it takes some time to get used to the risk and learning to anticipate the future.
Option 1: Don't get a gst number until you hit 30k. To remove a gst number is a lot harder than getting one.
Option 2: Incorporate and get your gst immediately. Advantage if you are buying materials.
Option 3: Get your gst and do not incorporate. Lowest tax rate/highest cost for taxes.
Knowing when your contract is to end should help you decide. In your case I would incoporate immediately if the contract is > 6 months.
Best thing for you to talk to an accountant.
How is the company paying you? Are you going through an agency? If not, you might have to get an independent insurance.
The contracts are usually full time equivalent and I usually only have the one, so tracking time is pretty easy.