RRSP and taxesIt is that time of year, when we are bombarded by RRSP ads. We know we need to save, but can we do it? Chatelaine magazine had a very good article on page 56 in the January issue on how to put some extra dough away. Here are a few of the tips which I have paraphrased here.  Sounds like I wrote it myself.

1.  Pay yourself first: start a systematic investment instead of waiting to have the funds to invest.  You won’t even miss the money.

2.  Leave the cards at home: It is a lot harder to part from cash than charging on the card.

3.  Avoid ATMs and direct debits: take a weekly allowance for play money or other expenses to avoid overspending.

4.  Find the best deal for debts: A penny saved is a penny earned.  Simply call the credit card company and ask for a lower rate.

5.  Stay out of the aisles: Nutritious, fresh and also inexpensive foods are in the perimeter of your local super market.

6.  Check the fine print: Buying in bulk is not always cheaper.  Compare the unit price before buying.

7.  Start a sitting or work exchange: Barters are back!  Ask friends to exchange baby sitting time or help with a small job like painting or moving.  That will be a great time to also have a party!