From the category archives:

Savings Plan

Tax Refund: A Good Idea

by Moneyproblems TipsWed Apr 28, 2010 Savings Plan

Today’s tip: getting a tax refund is a good idea (tomorrow we will give you the opposite viewpoint).
For many people, a tax refund is the only form of savings they have all year. They have a job, but can’t save money. Their only savings is the tax refund they get each year, and [...]

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Start an automatic payroll savings plan

by Moneyproblems TipsThu Apr 15, 2010 Financial Tune Up

Do you want to save money, but by the end of the month there is no money left?  To save, you must pay yourself first, and the best way to do that is to start a payroll savings plan.  Here are a few ways to do it:
First, talk to your employer.  If your company offers [...]

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Track The Change

by Moneyproblems TipsFri Jan 29, 2010 Savings Plan

Today’s Tip Courtesy of Joel Sandwith, Credit Counsellor:
If you want to get ahead financially, in many cases you need to start small, and work your way up. Here’s an idea, next time you break a $20 bill for a coffee, parking, or any other small expense, track what happens to the change. Do [...]

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Why You Need to Start a Savings Plan Now

by Moneyproblems TipsMon Jan 11, 2010 Savings Plan

Today’s Tip: Start a savings plan. If you want to save money, you must make a plan. How? Decide why you are saving money. Your goal may be to buy a car, or a house, or send your children to college. Regardless of the reason for saving, without a goal you won’t have the incentive [...]

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Automatic Savings Plans

by Moneyproblems TipsMon Nov 16, 2009 Savings Plan

Today’s Tip: Start an automatic savings plan.
We all want to save money, but we all make the same mistake: we save whatever money is left over at the end of the month, but at the end of the month there is never any money left over.  The solution, of course, is to save first.
The easiest [...]

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The Key to a Successful Savings Plan

by Douglas HoyesFri Oct 30, 2009 Savings Plan

All week we have discussed savings plans.  A savings plan is your protection for the future.  A savings plan will not work unless you make a goal for your savings plan.  Why is saving difficult?  Because it’s easier to spend than to save.
Having a goal is very important.  It’s hard to give up buying something [...]

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RESP, RRSP, and Long Term Savings

by Douglas HoyesThu Oct 29, 2009 Savings Plan

Once you have a short term savings plan for items you will be spending money on over the next few months, it’s time to set up a long term savings plan. Here’s what you need to know:
Long term savings are for your big goals; items you want, but will take many years of savings to [...]

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How to Set up a Short Term Savings Plan

by Douglas HoyesWed Oct 28, 2009 Savings Plan

How can you achieve your short term savings goals? First, you need to know what you are saving for. Write it down. Here are some short term savings goals:

Saving for first and last month’s rent so I can move to a new apartment
Urgent car repairs
Birthday or Christmas presents
Medical expenses
Clothes for my children

Decide when you will [...]

Tagged as: Christmas, Savings Plan

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Make a Specific Goal For Your Savings Plan

by Douglas HoyesTue Oct 27, 2009 Savings Plan

Yesterday we discussed the need to start a savings plan as protection for your future. If you have no debt and money in the bank, you can survive losing a job, or being off work for medical reasons. The only way to have money in the bank is to start saving.
Your first decision [...]

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Savings Plans: Your Protection for the Future

by Douglas HoyesMon Oct 26, 2009 Budgeting

I’m a bankruptcy trustee in Canada, and every day I meet with people who have money problems. The most common reason for money problems is not having a plan to deal with debts.
Without a financial plan, small problems become big problems. If you lose your job but you have lots of money in the bank, [...]

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