It’s Not What You Make, It’s What You Keep!

By February 4, 2016Uncategorized

It’s Not What You Make, It’s What You Keep!

One of the most important rules in personal finances is “it’s not what you make; it’s what you keep”.   Your income may be $50,000, but if your expenses are $49,000, then you really only “keep” and therefore “made” $1,000.

Is it possible to decrease your expenses in order to increase the amount of money you have left over to save??

I very HIGHLY recommend the following strategy to help you save more money. Start literally tracking every penny you spend on a monthly basis to see where you are spending too much and what areas you can possibly cut down.

You can use www.mint.com, a very user friendly online system to help you keep track of your monthly bills, create budgets and track your general finances.

Are Mutual Fund Fees a Scam?!

http://business.financialpost.com/investing/investing-pro/david-oleary-why-mutual-funds-that-charge-performance-fees-are-a-scam

Canadians pay relatively high fees on their investments. Click on the above link and watch the video to begin your education about mutual fund and other investment fees.

Is Australia’s Health Care System Better Than Ours!?

Australia also has a UNIVERSAL health care system like Canada, with the difference that Australia allows the private sector and not-for-profit sector to participate along side the government options.  Their health care system costs less and has lower wait times. Read more details about it here:

https://www.fraserinstitute.org/blogs/unlike-canada-australia-embraces-private-sector-to-deliver-universal-health-care

If you have any questions about any of the above or want to discuss your tax situation further, please contact me today for your free consultation. 

Important Dates for 2016

  1. RRSP contributions by February 29th
  2. T4/T5 filings due February 29th
  3. T3 filings due March 31st
  4. Individual tax returns due April 30th
  5. Self-employed returns due June 15th

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