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The Secret to Saving Money


Let’s face it, saving money is not just as easy as saying “I want to save money”, it takes a plan, it takes determination and it takes discipline. We will reveal the secret to help make this easier for you! Ironically this secret isn’t much of a secret at all, it’s just taking small little ideas and applying them.



First off, you need a budget. Yes, I brought up the dreaded B-word, unfortunately this is a must! Think of a budget as your road map and destination, you can’t go on a road trip without a destination and the direction on how to get there. There is no possible way to determine how much you can (or need to) save or where your money is going without this.

You don’t need to track ever single penny, you don’t need to make this into a huge resentful task. What you do need to do is sit down and find out where your money is going, find out how much is coming in, and how much is coming out and where it is going. Split this up into sub categories – some examples are – house payments, house maintenance, car payments, car maintenance, entertainment, groceries, etc. Just by sitting down and doing this, several people see instantly where they can start saving money with minimal effort.


Pay Yourself

This may confuse some people, but it’s very true. Invest in your future and put money aside in RRSP’s (or 401k if you’re from the USA) and put money into a savings account. Most peoples first instinct is to pay all of their bills, then put aside money for savings and RRSPs. The key to this is treat your RRSPs and savings like a bill, it’s something you NEED to do and NEED to pay and you can’t put it off or short change yourself. We find the easiest way to do this is to work with your bank on an automated payment plan where the bank automatically takes the funds out of your account on your pay day. Also check with your employer as they may have a program that can do this for you as well, they will also sometimes match your contributions.


Don’t Overspend

This can be more difficult than it sounds, but it is a must! You need to spend less then you make, if you spend more than you make, you will be constantly putting yourself into a worse situation, this goes hand in hand with budgeting. Once you start going into debt it’s extremely hard to climb out, not to mention you are now paying interest on the debt, so it’s more and more money going into something that’s not needed.

The “Minimum Payment”

If you do go into debt or end up using a credit card or line or credit, always pay it off as soon as possible, never only pay the minimum payment. Many people get caught in this trap where they go into debt and only pay the minimum payment, and because of this it can take 10-20 years to pay it off and in the long run you end up spending more money on interest then the initial amount spent.


You Can Do It!

Don’t give up, you can do it! It’s kind of ironic, think back to school and all of the subjects they cover and how many do you end up actually applying post-school ? Probably not many, we strongly believe that schools should teach financing and budgeting. This is knowledge and skills that could greatly improve everyone’s quality of life.

Take these simple steps and apply them and you should be well on your way to saving money.



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