SAVING-How to Save More;
Start with our 10 amazing money saving tips then:
Save 10-20% every pay cheque for the long term and don't spend it while you are accumulating your nest egg
Almost all financial institutions exist to pay their executives first, shareholders second and clients third. Fees are insidious, pervasive and hidden all over the place at your bank branch and financial institution. Everyone at your bank branch has a sales quota and is encouraged to sell products. Open a new account at your bank and the first thing they do is try to sell you a credit card. If you were a student you probably already have a credit card a line of credit and debts.
Take the example of bank fees. To estimate how much you are likely to pay over the next 40 years use the following calculations: 40 years x $30 per month ($360 per year) in banking charges @ a 4% compounded growth rate = $39,940.80 approximate. I wish I understood this when I was 25. If you're 25 or younger you're the first generation to grow up with the internet and computers. Look on the internet first. Personal finance is seldom if ever covered off in high school, college or university. Money Starts off life just like us with no education - is like new - and has very little experience. Its important to learn when you're young just how many people have their hand in your back pocket.
- Spend Less-find out where does your money go?
- Save More-by putting a fixed amount into a savings account
- Earn More-develop a side gig to bring extra cash
- When your earnings increase-keep your spending the same
- Make a budget-start saving into a Tax Free Savings Account (any annual account fees?)
- Become self reliant when you are young and how to calculate financial decision costs and benefits
- Learn how investments work and what options are available
- Start investing
- Consider should you BUY or RENT and save the difference?
- Understand how real estate, mortgages, life insurance and investment fees and commissions work.
- Should you buy term life insurance or permanent then save and invest the difference?
- Consider which is best a variable rate mortgage or fixed rate? You can save .40 to .60 percent over the life of a mortgage with a variable rate.
- Learn how to buy your first place without a real estate agent. You can save 5% + 13% HST
- Learn how you can achieve 8% to 20% annual returns on your capital
- Understand how time is your friend and be patient
THE ACCELERATED SAVINGS AND INVESTMENT PROGRAM
You have the option of focusing all of your energy on saving and investing everything you can
And saving on all cost fronts
APPLY THESE TECHNIQUES TO EVERYTHING TO DO WITH MONEY
The ultimate payoff is saving another $100,000 to $400,000 if you learn these techniques when you are young.
If you can save $10,000 when you are 25 then invest at an annual growth rate of 8% it will be worth $217,245.21 after 40 years when compounded yearly.
If you wait until you are 45 and save and invest $10,000 at an annual growth rate it of 8% it will be worth $46,609.57 after 20 years when compounded yearly.
Index ETF`s regularly return 7% to 8% have low fees and takes minutes every year to manage
Private lending regularly returns 8% to 20% but takes some time to manage the loan contracts
IF YOU WANT OUR OPINION WE WILL SHOW YOU
WHATS YOUR NUMBER©? HOW MUCH DO YOU NEED TO SAVE?
If we can show you how to save $39,940.80 by changing 1 simple thing would that be a good enough reason to meet with us to calculate your number?
When we start calculating your number you may think "THAT IT SOUNDS TOO GOOD TO BE TRUE"
If we showed you a way to save an extra $278,109.02 you probably WON"T believe us?
If you could save an extra $100,000 to $400,000 over your working career or during retirement is that worth spending the time to learn?
Our business case approach is supported by having access to all services and products from all financial companies
You should benchmark your current PROVIDERS, SERVICES AND PRODUCTS
YOU CAN CALCULATE YOUR NUMBER OR JUST ASK AND WE CAN HELP YOU