Ahhh the age-old philosophy of saving money, it’s a classic…and for a good reason. When it comes to saving money, keep a famous saying in mind: better soon rather than later! By putting money aside now and investing it, that means it can grow in the future. So what does this mean for you? Well, it means that by not saving now you’re essentially cutting yourself short for the future.
The first (and probably most important) thing to know about saving money is motivation. What will motivate you to put money aside? Ask yourself, what are you saving for? What are your financial goals? What do you want your life to look like in 10 years? Identifying your goals and financial needs will definitely motivate you to save for the future.
THE TWO KEY WAYS TO STAY MOTIVATED
Start with a plan
- Create a timeline—when do you want to reach your goals?
- Calculate how much you need to save and how often you’ll need to set money aside (weekly, monthly, automatic payroll deductions, etc.)
- Treat your savings as an expense in your well thought-out budget. It’s something you have to respect like everything else with your bills (e.g. payroll deductions, automatic transfers, etc.)
Start saving TODAY
- It doesn’t matter how small your savings are—the important thing is that you START saving! Set aside whatever you can and watch your savings grow bit by bit. And also, don’t forget about compound interest. Do you know what this means? Essentially, you’re reinvesting both your capital and your interest. In other words, you’re gaining interest on your interest!
To find out more about this subjet, please visit the
“Financial wellness Centre” in the secured section of the website via
MY ACCOUNTAhhh the age-old philosophy of saving money, it’s a classic…and for a good reason. When it comes to saving money, keep a famous saying in mind: better soon rather than later! By putting money aside now and investing it, that means it can grow in the future. So what does this mean for you? Well, it means that by not saving now you’re essentially cutting yourself short for the future.
The first (and probably most important) thing to know about saving money is motivation. What will motivate you to put money aside? Ask yourself, what are you saving for? What are your financial goals? What do you want your life to look like in 10 years? Identifying your goals and financial needs will definitely motivate you to save for the future.
THE TWO KEY WAYS TO STAY MOTIVATED
Start with a plan
- Create a timeline—when do you want to reach your goals?
- Calculate how much you need to save and how often you’ll need to set money aside (weekly, monthly, automatic payroll deductions, etc.)
- Treat your savings as an expense in your well thought-out budget. It’s something you have to respect like everything else with your bills (e.g. payroll deductions, automatic transfers, etc.)
Start saving TODAY
- It doesn’t matter how small your savings are—the important thing is that you START saving! Set aside whatever you can and watch your savings grow bit by bit. And also, don’t forget about compound interest. Do you know what this means? Essentially, you’re reinvesting both your capital and your interest. In other words, you’re gaining interest on your interest!
To find out more about this subjet, please visit the “Financial wellness Centre” in the secured section of the website via MY ACCOUNT
