Managing Money

You have more money than you think.

Ok, maybe not all of you have more money than you think, but I am going to assume that the majority of you do.

When was the last time you went to the bank and spoke to someone about managing your money? It had been at least 5 years for me. All the saving I was doing for Europe, and paying of my visa-debt was purely self-managed. Well, here’s a wake-up call for all of yous self-savers out there: there is a better way to save your money.

Now, if you are a certified accountant, or your Dad schooled you on Mutual Funds and the importance of RRSP’s, then this post is not for you. Read along if you want a good laugh because of how clueless I really am when it comes to money.

Check out this post by The Young Investor (RRSP VS TFSA) for a crash-course on what I learned yesterday.

So, back to my story.

Yesterday I had every intention of writing a super-awesome blog post, but I was at the bank for two hours! I’m not complaining though–because in those two hours I realized that if I continue to manage my money well I will be able to save my $10,000 sooner than I thought and have some funds left-over! It was a huge weight lifted off my shoulders! Also, I got a line of credit so ifI have to pay rent while I’m gone I don’t need to stress!

Phew!

I put my RRSP’s into a long-term Mutual Fund (High Risk) and set up a payment plane to contribute to them every month. My TFSA is currently put into Mutual Funds as well (Mid Risk) and I opened up a super-fancy everyday account which I can use without penalties in Europe (they won’t charge me $5 to withdraw money at a +Plus ATM) and I got myself the TD First Class Travel Visa Infinite Card. No, I’m not super rich (remember, I’ve saved $7,000 since January), so if I can do it so can you!

The Travel Visa makes sense for my life right now, but as soon as my goals change I just need to head back into the bank and rearrange my accounts one more time to fit whatever goals I decide on in the future!

So, have you been saving for something? Do you have an RRSP that you contribute to on a regular basis? If you haven’t talked to someone lately about your funds I highly recommend that you do–especially if you’re as clueless as I am!

Travel Update

  • I have a new Visa (it won’t expire while I’m away)
  • I still need to look into traveler’s insurance
  • Cell-phone!? (I want to instagram!)

Tomorrow is inspiration Thursday then I’m off to Calgary for the weekend. This week’s Instagram Weekend post may be later than usual because I don’t return until Tuesday but expect some really awesome photo’s because I’ll be exploring with my BFF and possibly heading to Banff!

xo

 

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One thought on “Managing Money

  1. Pingback: The pre-planning to your plan! | Tay in Europe

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