No matter how much you’re setting aside, I guarantee you still don’t think it’s enough. And it probably isn’t – at least, not for your liking. Truth is if you thought you were on the right track, you wouldn’t be here. There is no set amount you should be putting away, but here’s a cool formula (based on your income after taxes) to get you started.
Let’s be honest; most of us don’t start saving for something until we really want it – by then most of us wish we started saving a heck of a lot earlier. When we’re younger we save for smaller, more attainable things, like CDs, concert tickets and new clothes. As we mature, we start looking at the bigger picture. There are many reasons why you might want to start saving some money.
Although some of us are better savers than others, most of us could still use a little help. As we grow and mature, so do our financial needs. It goes without saying then, that our savings plans should change with us. Check out these practical savings tips for people of all ages and all stages of growth.
The greatest gift you can give your child isn’t an iPad or a new bike – it’s a savings account. That gift could set them up for life… just don’t expect your child to be too thrilled about the idea! Opening that first account is an important milestone for children and should be treated as such.
The key to making your savings account work for you choosing the right account – and following these top money-saving tips.
Your monthly credit card statements arrived in the mail and they read something like this: Total balance: Too much to even think about, Minimum payment: Your left arm AND firstborn, Due date: Overdue. Okay, let’s be realistic here. Most of us have some sort of debt, whether it’s nasty credit card debt, a student loan or a mortgage. So how on earth are you going to pay off your debts AND save money at the same time? As impossible as it sounds, it can be done.
There seems to be a few myths about using coupons and the types of people that use coupons. I’m afraid that my husband and I don’t fall under these judgments. We treat coupons like we treat a dollar bill, if you found $5 on the ground wouldn’t you pick it up? I know I would.
For nearly 40 years, my Dad drove a Brinks truck around suburban Toronto. As part of our family’s financial plan, I used to joke that he should bring the company car home one night… Instead, he’d keep the salt and pepper packets from his fast food lunches and occasionally sit at our kitchen table and empty them into our salt and pepper shakers. Here are some of the more extreme ways people try to save money.
Thanks to unrest in the Middle East (fighting in Libya makes investors worry the entire area could be affected) and the recent earthquake in Japan, gas prices are climbing by the day. Since we start to drive more this time of year, and things overseas are not yet stable, they may go higher still. There’s nothing we can do about world events, but we can change some of our behaviours to need less gas to get where we need to go. Here’s some saving tips.