A Money Coach in Canada

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Photo Credit: Michael Blanchard 

I’ve been  having a few conversations with clients/prospective clients on how to save yourself from yourself vis a vis your money. 

Here are 3 of my fave quick-and-dirty tricks:

  1. Set up a high interest savings account anywhere other than your primary bank/credit union.  Set up an automatic savings plan, even if only $10/paycheque (start small if you have to, but start!)  Do not get an atm card – repeat – do not get an atm card.  You can even go extreme – bury your online codes to make it a real hassle for yourself to withdraw the funds.  That way your true savings goals will stand a fighting change of being realized instead of subject to impulse buying.
  2. Lower your credit card limits unless you pay it off in full every month.   Most people don’t pay them off (that’s how visa/mastercard/amex make their money) and you know who you are:  Save yourself from yourself by shaving off your balance, then calling and reducing your limit.   Lather. Rinse.  Repeat.
  3. Do a quick, daily check-in with your bank accounts.  In the ideal world, we’d be so organized that we wouldn’t need this.  But who lives in the ideal world?  3 minutes to keep right up-to-date with account activity may save you a small disaster some day.

Readers:  any other crime-prevention measures you can add?

About the Author

Imagine if Canadians were known for being all over their money. Engaged. Proactive. Getting out of debt. Savvy. Saving. Generous. Nancy wants to help. Nancy started her own journey with money over 15 years ago, and formed her company “Your Money by Design” in 2004 to help others along the same path. It’s not the usual financial advising/investment stuff. It’s about taking control of day-to-day finances –managing monthly cashflow effectively, spending appropriately, getting out of debt, saving. If you're ready to take control over your finances, pop by her business site, YourMoneybyDesign.com

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