When meeting clients or talking to friends, I am always amazed at how often I find out ways they are missing out on free money. When accumulating wealth and financial security, every penny counts.

Find out here, how you may be missing out.

1. Not enrolling in employer’s sponsor retirement plan

If someone told you, give me a $1, I will give you $2, wouldn’t you take the money? That works out to 100% return before investment returns! If your employer offers a matching retirement plan, and you are not participating, you are missing out on a 100% rate of return. Enrol in your employer’s plan now. Not only will you get the free $1 from the employer but you will also have the $1 you would likely have spent by now. Please also note that because the contributions are made from your pay cheque, you get the tax deduction immediately. So if you contribute $100 per pay and your salary is $50k let’s say, you will only see a difference of $70 less on your paycheque!!

2. Not setting up an RESP

You know your child needs to do some sort of post-secondary education and you will likely have to pay for it or help out. When you save into an RESP, every dollar is matched by 20 cents from the government. You can contribute for as little as $50 per month. A contribution of $2500 per year will get you the maximum annual grant of $500. Contact anthony@you-first.com to find out more.

3. Not keeping your monthly bus passes

Your monthly bus passes cost get a tax credit on your tax return worth 15% or $150 per $1,000 spent!

4. Not using your gift cards

What! Come on! , you have to use your gift cards before you lose them or the store goes out of business! Hurry!!

5. Not using your travel or groceries rewards

Look at those points regularly and use them. They are likely worth a lot of savings.

6. Not using your grocery or drugstore card to accumulate your rewards

I personally go specifically to Shoppers Drug Mart just to accumulate the points for some fabulous make up! They add up and work just like cash! Bring your cards with you and use them!

7. Not applying for the disability tax credit

If you, your spouse or your child have a disability you may be entitled for the disability tax credit. We often see elderly persons missing out on this. Here is more information on the subject or contact terry@you-first.com for a quick question. http://www.cra-arc.gc.ca/E/pbg/tf/t2201/README.html

8. Not using the Groupons you bought

What! You bought Groupons and did not use them! Make a point of using your Groupons right away before the business is no longer around.

free moneyI will be sure to let you know of other ways you may be missing out as I come across them. So check back the moneyqueen Facebook page often or this blog!