Smart Finance and Money Saving Tips
What is an RRSP Loan?
When you borrow money from the bank in order to contribute to your RRSPs, you are using an RRSP loan. There are different types available. Some need to be paid off within a year, while others you can pay off over a much longer time period. You will often be given a more favorable interest rate if you have your RRSP at the same financial institution that grants you the loan.
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Can you believe that most households in North America waste about 25% of their food? Want to reduce the amount of food you waste every year? Below are some great freezer tips that will help you to do just that.
1. If you have leftovers from dinner, put them directly into the freezer so that they don’t go to waste, rather than forgetting about them in the fridge and then throwing them out because they’ve gone bad.
2 Prevent freezer burn by double bagging your food. Put individual items into inexpensive sandwich bags and then put a number of the smaller bags together in a larger freezer bag. You can reuse the freezer bag over and over since it never touches the food directly.
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I used to be the type of person who would go to great lengths to save a buck, regardless of how much time it would take me to do it. I wouldn’t think twice about spending a half hour to save a few dollars. But now I have come to realize that time is of much more value to me than money is. There is plenty of money floating around out there that is there for the taking, but my time is limited.
So, rather than spending my precious free time scampering around trying to save a few dollars by buying my groceries at four different places, I have decided to choose one store to shop at, even if I may not get the best deals on everything at that one store. Rather than spending three to four hours worth of time buying groceries by shopping at so many locations, I have been able to cut down my shopping to an hour or less every two weeks. Changing my shopping habits has saved me a tremendous amount of free time.
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Unless you are one of those people lucky enough to have an amazing advisor who keep you accountable and on track, you are probably like most of us who spend a minimal amount of time actually thinking about and planning strategies for personal finance.
I heard the other day that we spend approximately 20 hours a year planning for our vacations and just one or two hours a year on taking care of our personal finances! Does that shock you? It definitely shocked me.
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1. They take way too long to collect. I can think of many other things I would rather spend my time doing than clipping coupons. Whether you enjoy it or not, think of all the time you are spending looking for just the right deals. If you are a coupon clipper, I would recommend that you pay attention to how much time you spend each day/week gathering your coupons. Make sure the savings is worth your time.
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The Cheapskate Next Door: The Surprising Secrets Of Americans Living Happily Below Their Means by Jeff Yeager
As a fellow cheapskate, I have to admit I absolutely loved The Cheapskate Next Door
The author, Jeff Yeager (who is also a cheapskate) travelled around on his bicycle and visited a whole bunch of other cheapskates. He stayed in their homes and got a chance to learn some of their money saving tricks. He also compiled data from a huge survey that he had self-professing cheapskates fill out. I want to share just a few of these tidbits with you to whet your appetite so that you will want to read this book, too.
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With Christmas just around the corner, it’s time to get your creative juices flowing. Your kids are going to want to do something cool this Christmas with you, so why not create some great memories by making your own Christmas ornaments this year? There’s a really simple dough recipe below that you can use to make all sorts and varieties of ornaments
Dough Ornament Recipe
4 cups all-purpose flour
1 cup salt
1 ½ cups warm water
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