As January rolls to a close, or as some like to refer to it “the month of resolutions”… how are you doing on your 2018 resolutions? Have you been able to stick with it? Did you set any financial resolutions?
About this time of the month it can be easy to lose motivation and fall back into old habits. You CAN stay the course, however, and reap the financial benefits that changes can create. The key is not to overhaul everything at once… after all, slow and steady wins the race.
Below are our top five “baby steps” resolutions you can start today!
- Top up your RRSPs and TFSAs where possible - “Compound interest is the greatest mathematical discovery of all time.” – Albert Einstein.
- Review your budget – the less you spend the more you have, a simple concept yet profoundly important to your wealth.
- Review insurance policies – are you getting the best coverage for your premium dollars?
- Review your investment risk tolerance - the more conservative you are the lower your investment fees should be.
- De-clutter your living space – sell unused items
Do you have any other money saving tips that have worked for you? We’d love to hear from you!