No preview available
HomeMy WebLinkAboutThe Goderich Signal-Star, 2009-03-11, Page 36' Page A36 = Goderich Signal -Star, Wednesday, March 11, 2009 . Deadlines: Friday @ 3 p.m. Holiday Weekends Friday @ 10 a.m. Take control of your money during rocky times We all use our money in different ways, Above all, a budget should be flexible, reflecting our values and priorities. and change according to your circum - Regardless of your financial person- stances, the association says.. ality, what you decide to do with your The CBA, which provides "exper- money today will impact your life to- tise Canada banks on, , points out bud- geting helps you achieve short-term goals like paying monthly bills, tak- ing a course or pay- ing off a credit card. It's also for longer- term financial goals like buying a home, a car, paying for an education; a wed- ding or a holiday. When you take control of . your fi- nancial affairs, you're more confi- dent about the fu- ture, the association says. CREATE A BUD- GET A budget gimmes you a - "snapshot" of where you stand financially and where you're headed. Don't rely on anyone else to do your budgeting; take control of your own finances. Encourage your children to budget; it makes them realize the value of saving and achieving their own personal goals. Budgeting to buy a new comic book, a mountain bike or a pair of roller blades isthe ideal way for kids to learn about the value of money and saving. KEEP TRACK OF THE MONEY COMING n , . .' ,,,., 2 I N I 1 - ■ Ai l' ■ IN AND HOW MUCH YOU RE SPENDING. morrow. That's why taking control of your money right now - where it comes from and where it goes is the first step to- ward a secure future. The Canadian Bankers : Association. recommends that anyone who hasn't cre- ated a budget do so now as that first step toward a secure future. • The association notes that a budget gives you an overall picture of where your money is coming from, when it's •coming in and how it's being spent. able expenses. Consider the following: Fixed expenses: Those bills you have to pay and that tend to be the same amount month to month or year to year. They include rent or mortgage payments, •insurance, fees for education, car pay- ments, furniture and appliance pay- ments, payments on personal loans and credit cards, taxes for self-employed workers : and your savings program. Variable expens- es: The amounts that vary from month to month and over which you have some control. They include food, cloth- ing, utilities, trans- portation, long- distance telephone, club memberships, vacations, household supplies, gifts and contributions, personal care, recre- ation, babysitting, pets,- . and money for other miscella- neous. purchases. Your records: Keep well-main- tained files that you can review. Include cancelled cheques, credit- card statements, receipts and ABM/ debit transactions and bank books. PLAN YOUR SPENDING Create a spend - Top 5 money mishaps 1. Not having a qrip on your expenses: You need to ,figure out your spending habits and start keeping track of where your money goes. 2. Not paying off high-cost, high -inter- est debts first: Think about consolidat- ing your debts. 3. Not having an emergency fund: Try to save three to six months worth of living expenses to get you through a financial crisis. 4. Over -extending your credit cards: Be careful not to get into debt, especially when using credit cards. ' ,ice0"0* 5. Not protecting yourself .and your family with adequate life, medical, property and disability insurance: See an insurance specialist to make sure you're properly covered,:;: What are your expenses? If you know exactly where your money is going, only then can you decide if you're spending it wisely. Use the budget worksheet pro- vided to figure out your fixed and vari- • ST. PATRICK'S DAY CARD PARTY Goderich & District Horticultural • Societe.= is hosting a oard party Tuesday, March 17th 7 - 9 p.m. Cash Prizes MacKay Centre $ 5 O Refreshments t F Choice p BUCK & DOE )AM (Reegzy) "REGIFR & PAM WATTLRS SAT. MARCH 14/09 8:00 - 1:00 SALTFORD VALLFY HALL 34031 Saltford St., Goderich, ON ST. PATRICK'S PARTY swAIVTE - CHEERS GO GRFEN Lunch Provided, Dl - Rich Addy Free in town taxi provided Need Tickets - Cali Mike Mebon 519-524-7942 Ken & Deb Kegler 519-524-5489 ing plan that will help you meet your financial obligations and reach your goals. This plan should act as a flexible guideline that can change overtime. •Make a note of your fixed and variable expenses. When you total your expenses, they should be equal to or less than your income. •If your first plan is too heavy on ex- penses, think about which expenses you can reduce without sacrificing the quality of your lifestyle. •Look at variable expenses that may be reduced or postponed until a later date. •Be sure to include an emergency fund. Try to build a cushion of three to six months to help you prepare for the un- expected. •Once you have a good estimate of ex- penses, subtract that figure from your in- come. The remaining money is what you can use for your savings or goals. For more advice on saving; investing and other issues pertaining to personal finance, visit the Canadian Bankers As- sociation Web site at www.cba.ca. • Photo submitted Serious FUN! Kick March Break off with a magical carpet ride of family fun with Aladdin Jr. by Triple Threat Productions - an arts collaborative between The Livery, Serious Fun! Theatre Company and Casablanca Ballroom and Dance Studio. Shows are Thursday, Friday and Saturday at 7 p.m. and Saturday at 2 p.m. at The Livery. Tickets are $5 Students/ Children and $10 Adults and are available at The Livery and Wuerth's Shoes on The Square in Goderich.