Budgets, Debt Management and Financial Planning for Women

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March 2015
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Previous Posts

  • Summer Camps….Already? Have You Got a Summer Budget?
  • Spring Break Budget
  • Tick Tock Goes the RSP Clock!
  • Plant Seeds to Grow Your Savings
  • What is a RESP and Why Would I Need One?
  • Turn Your 2015 Financial Plan Into Reality!
  • How to Get Your 2015 Plan Done!
  • What do You Need to Set Your 2015 Financial Plan?
  • Why Should You Figure Out Your Finances for 2015?
  • I Think The Big Christmas Bill Has Arrived :(
  • Slow and Steady Saving

    The tortoise and the hare can teach us a lesson on this subject too! Whether you are saving for retirement, a big trip, a home or something special, slow and steady does it. Here are a few reasons why:

    • If the amount is built into your budget, it is part of the plan
    • Automatic monthly transfers = it will happen
    • Regular deposits/purchases = dollar cost averaging
    • Automatic savings = no anxiety with respect to ‘when to buy’
    • Invested wisely (see below) and it will grow
    • Add ‘windfall’ money and it will grow even faster

    Don’t forget to make sure your hard earned money is invested in an appropriate investment. Consider the following 3 things:

    1. What – The purpose for the money
    2. When – This dictates how long you can invest the money
    3. You – What is your risk tolerance?

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