I saw this article this week and thought to bring it to you.  I decided to add my spin as well on the 6 items listed in the article.  Read both and get inspired!
 
  1. Being cheap– I always say, cheap is cheap.  How many times will you have to buy the same thing because you bought the cheaper version which did not last.  Quality is cheaper in the long run.  Buy once, buy quality.
  2. Assuming you can’t save money – We all have a tight cash flow. Simply because we like to spend.  Instead of assuming that you don’t have enough to save, think reverse.  Find a way to make it happen. You would be amazed at home much money some people with little income can save.  It is all about attitude.  Cultivate the right attitude and think you can save and you will! 
  3. Putting savings last – the easiest way is to pay yourself first.  Put saving at the very top of your expenses like the rent or mortgage and the cell phone bill and spend what’s left instead of spending and saving what is left. We have no choice to view it as a priority.  Emergency will come sooner or later, so will that annual vacation and the not so distant retirement.
  4. Turning down free money – I see way too many people not enrolled in their employer sponsored pension plan or Group RRSP. If your employer is willing to give you money to help you save, why the heck wouldn’t`t you take the free money!  It’s beyond me!! Please do call me to go over your personal specific with you.  It will be a lot less painful than you think to find the money to contribute to these plans.  I guarantee it!
  5. Paying too much tax – We prepare tax returns here at YOU FIRST and we too often have to fight people to look for their tax deductible receipts.  Come on, be organized and be keen on using all the tax deductions you are entitled.  That is the best way to save money.  Come and see me or one of my team and we will make sure you are not missing out on anything.
  6. Failing to have fun – Yes! you are allowed to have fun.  In fact, that is the whole purpose of budgeting and saving money.  You need to have some “Play money” factored in the financial planning process now and forever no matter what.  So, go ahead and be smart with your money starting now!