I am a convert of using multiple bank accounts to budget. I have a savings account, a planned bills account, a property tax account, and a fun stuff account, and I’m realizing that its not enough. I am going to have to start looking at my finances more carefully and I may need more bank accounts to do it.
I like nice things. Many people like to own nice things, and when they do buy them, they buy them on credit. For years, my rationalization was: I am going to buy it eventually , so I might as well have it now. How wrong was I!?
Gas prices are forever going upward. Short of hedging yourself by owning stock in the gas companies, there is nothing you can do to control gas prices. In order to save money, you need to minimize your consumption and buy the cheapest gas. The following tips will help you reduce your gas consumption and keep money in your wallet.
Sure you aren’t in school anymore, but don’t be in a rush to leave the lifestyle. University years are the best of a lot of peoples lives, so don’t walk away from them by being in a rush to be an adult.
It is very tempting to want to grow up fast, but resist the temptation. Stay young. Beyond holding onto those fun years for a little while longer, there are other advantages. Living like a poor college student keeps the cost down.
On your pay stub when you see CPP and EI being deducted you kind of feel that its just another tax, but that isn’t quite true. You contribute to these ‘accounts’ to a preset maximum. Once you have attained that maximum, your contributions will stop.
So what is the maximum and when will you get there? Determining this will require some simple calculation on your part.
Throughout university, I lived a little bit past my means and managed to accrue a nice chunk of debt by the time I was finished. My co-blogger had found himself in a similar situation. Here is the story of how our perspectives on finance has changed.
They will knock on your door. They will phone you. They will do just about anything they can to get you to sign up. They promise great savings on your Natural Gas and Electricity Bills.
They are the Direct Energy sales people.
They promise you great savings, but even if their story is 100% true, you may not save any money. Read more to find out why.
In the latest federal budget a new tax-free savings account was announced. But what does that mean for working Canadians? Is that the same thing as an RRSP? Is it as good as an RRSP? The answer is no, it isn’t the same, but yes it could prove to be just as useful.
Why do people have trouble saving? The answer is simple. Because the money is always there as a temptation. No matter how reasonable the budget is, it is always far too easy to over-run the budget. Much more important then setting a budget is how to follow one… with multiple savings accounts of course!
You are currently browsing the archives for the Budgeting category.
