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Question Retraite offers you in this section a series of 20 simple and direct tips that are budgetary, financial and highlight our attitude to savings and money.

1 Start early to save.
It must be remembered that building your savings is not a sprint, but a marathon. Every time you manage to put money aside, you can be proud of it and see your investments grow. Saving a little $ 20 a week will give you a little over $ 1,000 at the end of the year.

2 Be patient.
When you evaluate in which investment vehicle to put your savings, it is possible that you find some rates of return rather “cushy” by the current times … It is necessary to know your profile of investor and to make choices more or less risky according to the case. When you plan your retirement at age 35, you still have several years to grow your assets.

3 Watch out for impulse purchases.
Shopping opportunities are not lacking in our world of consumption. Nothing like an unthinking purchase to destabilize your budget. Do you really need this home theater set that will result in monthly payments of $ 100 per month for 2 years?

4 Plan for the future.
You have all kinds of projects and your friends find that you always get them done. This is good news. You have learned to set goals and to take concrete steps to achieve them step by step. This is also the case in financial projects. The golden rule is to regularly return to your goals and adjust your plan as you go along with changes in your life.

5 Plan, plan and plan.
Why? You must regularly review your financial situation. Do you want to buy your first house? Do you have enough money left over for the down payment? Have you placed a portion of your savings in an RRSP that allows you to withdraw up to $ 25,000 of your registered retirement savings plans for the purchase or construction of a home? Even if your retirement is for in 25 or 30 years, give yourself a foreground knowing that the situation will evolve over time. The Retirement Question Retirement Financial Planning Guide is a great tool for action now.

6 Think in terms of expenses …
From your gross income, your employer deducts certain payroll deductions and taxes payable. But when it comes time to buy a product or service, which costs you $ 100, for example, remember the following: this $ 100 net (plus GST and QST) is actually $ 20, $ 30 or $ 40 more depending on your tax rate and other payroll deductions. If you earn $ 15 an hour, you will have to work about 9 hours for this purchase (about 20% of payroll deductions). That’s a little why so many people become skilled doing all kinds of small jobs by themselves. It is often said that saving is equivalent to paying oneself.

7 Good and bad debts …
You must learn to use credit intelligently. Ideally, you should not have debt, but there are few people who can buy a home without getting a mortgage. Call your mortgage debt a good debt since your home is also a significant real estate investment that will appreciate. However, purchases made with a consumer credit card should be paid upon receipt of your account. The interest rates on these cards are way too high. Consumer purchases (furniture, electronics, etc.) do not take value.

8 Make your budget …
And respect it! Take control of your personal finances. To get there, make your budget estimates. You can track your income and expenses by the week or month. You choose. Take the time to forecast your income and expenses. You can use the Retirement Question calculation grid that allows you to determine fixed and variable expenses and your savings, including retirement savings. You will quickly see where your consumption habits can be modified to achieve the projects that are important to you.

9 Watch out for inflation!
When forecasting income or expenses, never forget the inflation factor. It is inflation that is eroding your purchasing power. Planners take this into account in their future revenue projections.

10 Live below your means!
Once your budget is done, you now have a good idea of your income and expenses. While this may sound simplistic, make sure your expenses do not exceed your income from any source. To enrich oneself is not to live within one’s means, it is to live below one’s means. Adopt a lifestyle where you eliminate all unnecessary expenses.

11 Determine your investor profile!
Now that you’ve managed to save for investments, take the time to find out about your investor profile. Are you ready to buy shares in large Canadian companies that pay dividends or invest in fixed rate bonds? In general, return and risk go hand in hand. To know your investor profile, you can consult the websites of financial institutions.

12 Ask for advice!
Do you find that your savings and investment strategy does not seem to work? Are you still in debt despite commendable efforts? It may be time to get advice. Your financial institution can help you see things more clearly. For advice on the different aspects of financial planning, a financial planner can help you For budgetary reasons, the Cooperative Associations of Home Economics (ACEF) have offices in several regions of Quebec. See the 2013 Personal Finance Guide for the Protect Yourself collection.

13 Ask questions!
Feel free to ask any questions that come to your mind about your investments, RRSPs and personal finances. When you want to put things in order, it’s best to put everything on the table and have a clear plan that will help you grow.

14 Beware of quick fixes!
You have heard of financial scandals and you are wary now of the miraculous returns you are offered? This is an attitude that will serve you and protect your achievements. The Autorité des marchés financiers has produced a personal guide that will help you make informed choices. It is available on their website:
15 Think RRSP.
Even though RRSP season is mainly at the beginning of the year, you can also contribute to the plan throughout the year. And why not proceed by systematic withdrawals?

16 Simulate!
While retirement is still a long way off, doing simulations and setting clear goals will help you make informed decisions. A financial planner has the computer tools to make such projections. Retirement issue has also developed a calculator, My plan, I do it now! , to help you calculate how much you need to save per year. You can also consult the Retraite Québec website. SimulRetraite is an interactive tool that allows you to know the sources of income in retirement and make simulations. Your data is kept for 18 months.

17 Put your house in order!
If you can not find your bank statements and your bills pile up, take the time to clean up your documents. Simple question of organization and ranking, you will see more clearly. You do not need a big metal binder or an archive management course to get the upper hand. You can use the same categories as your budget.

18 Talk about it with your family!
If your family situation changes or you experience changes in your work, explain to your children what is happening. Since your budget may be modified by these changes, it will probably require adjustments that will affect the entire family. Everyone will be able to participate in his measurement.

19 Stay tuned!
Sometimes the best schedules do not work. Several factors can influence the success of our projects. Take the time to stop and take stock to stay the course.

20 Reward yourself!F
Plan, analyze, budget, save … All this should not become an obsession. To reward you, treat yourself to some treats. After all, your goal is to achieve some financial freedom.

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