six tips to get you saving in 2019
January 07, 2019
A New Year’s resolution is only good if you stick to it. And if your New Year’s Resolution is to save your hard earned dollars, we can help. (We are a financial institution after all!) We want to make sure you have a happier, healthier, and hopefully wealthier 2019, so read on.
With the TFSA, saving has never been easier. The Government of Canada introduced the TFSA – or tax-free savings account, in 2009. This savings account allows you to save money without paying taxes on earned interest (aka, your money will grow quicker). And unlike other registered plans, you can withdraw your money at any time without being taxed. Sounds like a no-brainer to us!
Who doesn’t love a good rate special?
It’s a good thing your New Year’s resolution is to save more ‘cause we just happen to have the perfect solution. With our current rate special (29 months @ 3.25%) the decision to set up a term with Sunova is, you guessed it, a no-brainer.
Watch where you eat
There’s nothing wrong with going out every once in a while, but it can turn into an endless (albeit convenient) cycle of spending valuable cash. Packing a lunch – or even better, meal planning – is a great way to add variety to your work lunches. It may be hard at first, but you’ll be thanking yourself in the long run.
Meet budgeting, your new best friend
Although budgeting requires a little extra time and effort, the end result is something quite valuable. Seeing exactly how you’re spending money is often a reality check, which can kick savings habits into high gear. (And it doesn’t have to be super complicated either.) A simple excel sheet template is all you need to get started!
Pay us a visit (don’t worry – it’s free)
If you have questions about your finances, like how to grow your money more effectively or invest over a longer period of time, we’ve got you covered. Our knowledgeable and friendly wealth management team is here to provide you with the tools to kick-start your investments and contribute to your savings goals. Contact them today.
If you have general questions about saving, want more info on the TFSA or our current rates, your local branch staff want to make sure you are fully informed. Don’t hesitate to give them or our lovely Help HQ a shout. It just so happens their New Year’s resolution is to help you save – what a coincidence!