Saving For The Non-Believers
One of the most frustrating things that I find and I am sure that many others also find frustrating is trying to save money! It can be difficult for a number of reasons. Perhaps you have an enormous phone bill that you racked up in the last month or your paying off your credit card because you HAD to have the matching Coach purse and shoes. Whatever the case may be, it can be frustrating however I have come across some helpful tips to get you on the road to a more fuller and satisfying bank account.
After a year of being in post secondary education, I have noticed that things sure do add up! You need to pay transportation such as bus tickets or gas for those who drive to class, maybe you buy your lunches from on campus facilities or maybe you are paying your own way through college like my self. In the end, you are left with a whole in your pocket and a lot of stress on your plate. By going through these more often than not situations, I have discovered doing a little research on how to save is extremely useful and beneficial. It's helped me, maybe it will help you!
For those who have not heard of it, go open a Tax-Free Savings Account or more commonly known as a TFSA. A TFSA offers bankers an opportunity to save money, grow interest on their end-of-month balance and not get taxed! TFSA's may require an initial deposit, however it won't be a high deposit. At the end of each month you gain interest on your final balance and it gets added to your amount, so your account grows and grows with each amount you add!
Secondly, what I found that works for me, is to take all the small change that you have accumulated in your wallets, jacket pockets and the bottom of your purse and throw it in a jar! Really, it's a great way to save and adds more incentive to save more. I know it is great to have that spare change laying around so you can grab a large coffee first thing in the morning, but wouldn't it be more rewarding to save that $2 each day? By the end of the week you have $14!
Lastly, another thing that probably has helped me and probably many others in the long run, is write down everything you make on your pay cheque, write down what you need to pay for the month and with what ever you have left, put a majority of it in your savings and leave the rest for a bit of pocket money to lean on. When you have visuals in front of you, it makes it extremely clear as to where your money is going and what you have left.
To everyone that feels saving is near to impossible and just does not believe they can do it, it is possible and with the right attitude and self control, you will be surprised at exactly how much you can save.