Posts tagged as:

Savings Plan

Do you have a savings account?

by Moneyproblems TipsWed Aug 25, 2010 Savings Plan

Do you have a savings account? Is there any money in your savings account?  If you have no money in a savings account, why not?
A savings account is an excellent place for your “emergency fund” (two or three months worth of living expenses if possible), and it’s also a great way to save for the [...]

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Start an Emergency or “Rainy Day” Fund

by Moneyproblems TipsWed May 26, 2010 Budgeting

Stuff happens.  Your car breaks down.  You have to take a trip for a funeral to another city.  Your child needs money for a school trip.  How can you cover unexpected expenses?
First, make a budget and do your best to expect the unexpected.  You  may not know exactly when your car will break down, but [...]

Tagged as: emergency fund, rainy day fund, Savings Plan

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Get on the Same Page as your Spouse

by Moneyproblems TipsMon May 17, 2010 Budgeting

If two partners in a company have opposite objectives, the company probably won’t be successful.  The same is true in a marriage.  If one spouse wants to spend and incur debt, and the other spouse wants to save and not spend, conflicts will arise.  You need to be on the same page.  You need to [...]

Tagged as: budget, Savings Plan

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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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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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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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