Where does all your money go?

If you haven't already, go to the section on personal financing and find out exactly where all your money goes. Then find out what you can do with the extra $ that will amaze you!

Start young, finish rich!

Yes, you can have a million dollars without winning the lottery. You just need a plan and you need to start now!

If you start with $1000 invested now at 10% and pay yourself $200/month, every month, starting at 25 years old, you will turn 65 with $1,318,516. That's less that $7/day. Think you could save that?

Students

I find it deplorable that we learn geometry, physics, calculus, and functions in school but never how to manage money - never how to build a secure financial future. Sure, you can go to school and get a degree, but what if you can't find a job? What do you do with thousands or tens of thousands worth of debt?

First of all, you need to learn how to budget while you're in school. Getting in the habit of good financial planning is your first step. Use my financial organization calendar, (see the personal financing section) to get things under control.

Once you've finished school and are left with debt, use the debt repayment chart in the debt section of this website to make sure all payments are made on time and see how additional payments can reduce debt faster and save you money.

Don't ever buy now and pay later unless you have a solid re-payment plan to pay it off before the interest kicks in!! Interest on those kinds of plans is astronomical and almost everyone gets stuck paying it because they don't plan properly. You will end up paying far more in the end.

Above all, pay yourself first. Even if you start with $20/week, it can still add up over time. You need to start building your nest egg and an emergency fund now! You can increase it as your income grows and with occasional tax refunds and such, but the important thing is to start now!

If it's all just too overwhelming, call me. We will find a plan that works for you and gives you something to look forward to. Stop stressing and start fixing.

"You become successful the moment you start moving toward a worthwhile goal."

- Samuel Johnson

Jackie Recoskie - 343-644-1010 - info@BalanceFinancial.ca