HomeMy WebLinkAboutThe Citizen, 2008-12-24, Page 7With 2009 just around the corner,now is the time to make a toast toyour financial health with theseresolutions.Develop a Plan“The major reason people are not
successful in their financial planning
is that they simply don’t start,”
explains Chartered Accountant
Douglas Lamb, president, Spera
Financial Inc. in Toronto.
“You need a plan based on your
financial and life goals, and your
‘financial resolutions’ are really
implementation strategies, outlining
how you will achieve them. As your
plan evolves, you develop a savings
momentum to carry you through
various stages – such as paying off
student loans, saving a down
payment for a house, accelerating
mortgage payments, educating your
children or maximizing retirement
savings. Make sure you revise your
plan as necessary.”
For your plan to be successful, you
must believe in it. Identify any
potential roadblocks and develop
strategies that will work for you.
These might include not carrying
cash if you are a chronic spender, or
arranging monthly withdrawals from
your bank account for investment
purposes, or starting an RRSP or a
Tax-Free Savings Account.
Manage Your Money
“Saving requires discipline,” says
chartered accountant Andrew
Guilfoyle of North York.
“People want a magic solution, but
the only solution is not to spend
everything you earn.
Lifestyle expands to meet income
and, while you may be able to afford
anything you want, you just can’t
afford everything you want.”
Save 10 per cent of every dollar
you earn. Arrange with your
employer to have it deducted
directly from your paycheque. Pay
off your credit card balance each
month, or cut up the card. Read The
Wealthy Barber by David Chilton,
which provides solid financial
advice with simple realistic
guidelines.
If you don’t like to budget, try this
strategy: make a list of all your
discretionary expenses that make up
more than one per cent of your
income, and prioritize them.
Keeping this list in mind will help
you avoid impulse purchases and
forgo a spending spree you might
end up regretting later.
Consult a Financial Planner
“Consider consulting a financial
planner,” continues Lamb. “A
planner helps you make informed
decisions by analyzing your
financial data, determining your
goals, and providing information ondifferent strategies and scenarios,and their implications. Take anactive interest and ask questions –the only stupid question is the one you don’t ask.”Your financial health is important,so interview several advisors to becomfortable and confident in yourselection and ensure they are properly qualified.Start Saving Early “You can start saving at any age,and the earlier the better,” addsGuilfoyle. “Begin by teaching yourchildren. If you are a parent with
teenagers, encourage them to read
The Richest Man in Babylon, by
George Clason. Younger childrencan also learn about saving. Suggestthey divide their allowance into three portions: one to spend, one tosave, and one to give away tocharity.”
Brought to you by the Institute of
Chartered Accountants of Ontario.
THE CITIZEN, WEDNESDAY, DECEMBER 24, 2008. PAGE 7.Personal financial resolutions for 2009
Begins
Friday, Dec. 26th, 2008
9 a.m. - 6 p.m.
and Ends
Jan. 1st, 2009
50% OFF ALL CHRISTMAS
30% OFF Quilts, Throws,
Pillows & Accessories
25% OFF Home Décor
(Includes prints, mirrors, lamps, furniture & accessories)
Metal Signs... $9.99 ea.
Reed Diffuser Kits with Holder
$32.99 (reg. $38.99 sale price)
County Home & Beanpod
Large Jar Candles - $16.99 ea.
All Large Lang, Pineridge Art,
Amcal & Legacy Calendars... $14.99 ea.
DUBLIN MERCANTILE
Located in Ontario’s Furniture Village
59 Mill Street, Dublin, Ontario
(519) 345-9922
www.dublinmercantile.ca
Dublin Mercantile’s
BOXING WEEK OF SAVINGS!
Elvis the Elf
Elvis the Elf, Drew VanWyk, was apparently the only elf who
wasn’t interested in working. He just sang and danced all
day, according to the Grade 3 class at Blyth Public School’s
number at last week’s Christmas concert. The whole school
presented a production of Is Santa Smarter? where Santa
Claus was overwhelmed with rising fuel costs and needed
to make some extra money to ensure his gifts would reach
all of the world’s children, so he is accepted as a celebrity
contestant on a game show set in Blyth. (Shawn Loughlin photo)
COMMEMORATE THE NEWEST
FAMILY MEMBER'S 1ST NEW YEAR
Join the gallery of faces in The Citizen's
baby photo display January 8, 2009
Send or bring a picture of your little one born in
2008 along with a writeup which includes full name,
birth date and parents' names, to be featured in The
Citizen's Gallery of Faces on January 8, 2009, for
only $20.00 (GST included).
Please send picture (with name on back), along
with a cheque, to The Citizen by January 5.
Photos may be picked up after January 8.
THIS MUST BE PRE-PAID.
- Sample -
Please Complete
Baby's Full Name___________________________
Birth Date_________________________________
Father’s Full Name_________________________
Mother’s Full Name_________________________
$20.00 Enclosed
DEADLINE - January 5
2 pm in Brussels • 4 pm in Blyth
❑
Alex John Smith
May 18
son of
Mike & Laura
Smith
BB aa bb ii ee ss oo ff tt hh ee
YY ee aa rr 22 00 00 88
Deadline
extended
to Jan. 5
MEETING NOTICE
MUNICIPALITY OF
MORRIS-TURNBERRY
The upcoming Council and
Committee meetings for the
Municipality of Morris-
Turnberry will be held:
Tuesday, January 6
at 7:30 pm
Regular Council Meeting
Wednesday, January 7
at 7:30 pm
History Book Committee
Meeting
Tuesday, January 20
at 7:30 pm
Regular Council Meeting
MUNICIPALITY OF
MORRIS-TURNBERRY
HOLIDAY HOURS
Office Hours
Wednesday, December 24th, 2008 9:00 am to 12:00 noon
Thursday, December 25th, 2008 Office Closed
Friday, December 26th, 2008 Office Closed
Monday, December 29th, 2008 9:00 am to 5:00 pm
Tuesday, December 30th, 2008 9:00 am to 5:00 pm
Wednesday, December 31st, 2008 9:00 am to 3:00 pm
Thursday, January 1st, 2009 Office Closed
Friday, January 2nd, 2009 9:00 am to 5:00 pm
Curbside pickup will take place as usual on
Wednesday, December 24th, and Wednesday, December 31st, 2008.
The Landfill Site will be open with regular hours on
Wednesday, December 24th and Wednesday, December 31st, 2008.
For further information please call the Municipal Office
519-887-6137