How much do you think you’ll need to retire? That depends on a couple things.

1. What kind of lifestyle do you want?
2. What will it cost? Read more »

This is a big question and whether you’ve started to save for your retirement or not, the mere thought of it can cause anxiety.

Next week Dear Piggy Bank will explore this topic and provide some useful tips to make informed decisions and get started including how to calculate what you will need, determine what resources you might have and how to design a RSP plan and start saving.

Do you have any questions? If so, please add a comment and I’ll consider them in the post.

I thought we might finish the holiday season under budget this year. Realistically we will be $200 over budget. We can deal with that. Especially since January is generally more low key.

It can be a challenge repaying the holiday bills at the same time as your paycheck decreases (those pesky EI and CPP deductions are back) and you may have budget resolutions.

Here are some tips to repaying 2010 holiday bills and setting yourself up for 2011. Read more »

Dear Piggy Bank has been in the limelight.

1. Yoyomama: Family Financial Planning Basics – An interview http://www.yoyomama.ca/2011/01/new-years-financial-resolutions/ and case study http://blog.yoyomama.ca/2011/01/dear-piggybank/. Yoyomama – keeping mums on-the-go in the know.
2. 24H Daily Paper – Vancouver: Household Money Management Plan – A snapshot article January 11, 2011 under Yoyomama’s column. http://vancouver.24hrs.ca/PDF/2007/10/10/daily0111web.pdf
3. Enterprising Mom’s Network (EMN) Monthly Newsletter: Your Budget and Cash Flow January 11, 2011. http://www.enterprisingmomsnetwork.com/blog/cash-flow-and-your-budget.html

I hope some of the information has been useful. If you have any questions, please note them in the comments section.

Managing your finances doesn’t need to be complicated or take a lot of time. Here are some tips and tricks to make money management easier. Read more »

It’s easy to say but how do you do it? Short term versus long term objectives, money for this but not enough for that too…these are common questions and challenges.

The first step is to identify your goals. What do you want and what will it cost? When do you want it? It’s easiest if you select goals that align with your values.

The next step is to do a little math. Group your objectives into short, medium and long term categories and break down the cost of each into annual/monthly targets. For example: Read more »

Happy New Year! The holiday season is barely over but it’s not too soon to think about the 2011 holiday season!

This is a great time to do a couple things to set yourself up for next year’s holiday season. Read more »

Preparing for the holiday season and wondering what to do about your personal finances can both generate anxiety. Time ticks by until the holiday season is upon us – whether we’re ready or not! Money matters are similar in the sense that they don’t go away and problems don’t solve themselves.

The remedies and tips to minimize the anxiety are similar. Lower anxiety = greater enjoyment.

• Have an idea what you want to achieve
• Prioritize your list
• Take a look at the calendar and determine what is realistic
• Combine activities, minimize obligations
• Be prepared that some items on your list may not get checked off

Take pride in what you accomplish and enjoy the ride!

The holiday season is fun and busy! Time flies and before you know it, it’s the new year. Start 2011 on the right foot. Here are 3 steps to take care of your financial business.

1) Set a simple plan – 1 to 3 goals
2) Make it easy on yourself – Set up auto-transfers/savings or increase payments
3) Tweak it – Review it a couple times per year and make adjustments as required

Achieve 1 goal and you will be much closer to achieving your financial objectives. You may have intended to start RSP’s ages ago and never got it down. Set up a monthly RSP savings and you will be surprised how quickly it accumulates. The savings plans are easy to increase, you can avoid the rush at the contribution deadline and you may receive a tax refund!

Do you have a financial plan? Is it for 2010? Does it cover a few years?

Once you decide on your priorities and goals and set them to a timeline, it can be an easy exercise to review the plan. It may need some small adjustments but if you’ve put some thought into it, the plan will serve you well for several years. Read more »