The saying goes, 'The best time to plant a tree is 20 years ago, the second best time is now'.
Watch your money grow with the help of these 6 savings tips:
- Start early – Compound interest can help turn your savings into a big, fat nest egg. The most important ingredient to make that happen is time, so get started today.
- Contribute often – Weekly or monthly pre-authorized contributions to your savings can be easier to handle than a large lump sum payment at the end of the year. Small payments made regularly can yield big results. Set up scheduled direct deposits into your savings to make sure you never miss a payment.
- Keep it invested – Life comes with some pressures and money’s often one of them. It can be tempting to dip into your savings to make a big purchase or loosen the financial squeeze a little. Don’t do it! Keep your savings goals top of mind and try not to waiver from them. You’ll thank yourself in the long run.
- Diversify – Investment options abound so don’t feel like you need to put all your money in one place. There’s a variety of savings and investment accounts you can open through online banking, and if you need a hand we’re here to help.
- Pay yourself first – Contribute to your savings in the same way you pay your bills – that way it doesn’t even feel like a choice. Be diligent and watch how fast your investment will grow!
- Talk to an advisor – That’s where we come in. If you have questions, or if you need some financial advice call our Contact Centre at 1.866.863.6237. We can answer questions over the phone or set up a meeting with an advisor to go through things in more detail. We're here for you 7 days a week!