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Financial Corner
Financial Corner - How do I save for my first car? Print E-mail
 TNT Financial Corner is written by Maureen Babin of Amarack Financial.

People don't plan to fail.
They fail to plan.

Amarack Fianancial Consulting

How do I save for my first Car?

We live in an instant society, with instant credit.  What happens if you don’t have that instant credit?  Does that mean you’ll never have the things you want?  Not at all, it only means you have to go about reaching your dreams and goals with a different approach. 

I promise I’ll never use this phrase again…but…when I was your age, we don’t have instant credit.  My parents worked, saved and than bought what they wanted or needed.  Lending has only been around for that past 40 years or so. 

So how do you accumulate money?  There are several things you can do now to make the goal or dream reality.

 
Financial Corner - Teen Money Make Over 101 Print E-mail


TNT Financial Corner is written by Maureen Babin of Amarack Financial.

People don't plan to fail.
They fail to plan.

No Credit
Bad Credit

How Do I Get Credit?

Establishing credit seems to be a catch-22 situation. You want a credit card so you can establish credit, you apply for credit but are turned down because you don’t have credit.  So how do you get credit when you don’t have credit?

 
Financial Corner - Money Doesn't Grow on Trees Print E-mail


TNT Financial Corner is written by Maureen Babin of Amarack Financial.

People don't plan to fail.
They fail to plan.

 

Money Doesn't Grow on Trees
But it Does Grow

Ever heard that old saying “money doesn’t grow on trees”?  When I growing up it was said way too often.  One way to make sure you have money is to follow this simple rule.  The Golden Rule of personal finances. Pay Yourself First, 10% of all you earn is yours to keep.

 

As soon as you have a job, allowance or any other source of income, the key to growing that money tree is to pay yourself first.  Everything needs a strong foundation in order to grow including money.   Here are a few tips to start branching out and make that money tree grow.   Start with your next pay cheque, or other source of income.

 
Financial Corner - Who Wants to be a Millionaire? Print E-mail


Financial Corner

TNT Financial Corner is written by Maureen Babin of Amarack Financial.

People don't plan to fail.
They fail to plan.

 

Who Wants to be a Millionaire? 

Is it possible to be a millionaire?  If you weren’t born into money, haven’t won money or robbed a bank you may think it’s impossible to become millionaire, but it isn’t.  There is one tried, tested and true way to be come a millionaire, it’s called the magic of compounding interest. 

Just how magical compounding interest works depends on three factors;

  1. How much money you invest
  2. How much time you have to invest
  3. The rate of return you earn on your investment
 
Financial Corner - The "B" Word Print E-mail


TNT Financial Corner is written by Maureen Babin of Amarack Financial.

People don't plan to fail.
They fail to plan.

 

The "B" Word - Budget

A budget is a spending plan that tracks where your money goes.  It’s based on how much you make (income) and what your monthly expenses are.  Understanding just where your money goes will help you to manage your cash and determine how much debt, if any, you assume. 

 

The biggest thing about budgeting is to know how much it costs you to live.  Once you figure out your monthly expenses, you can compare them to how much income you have each month.  Many people don’t know either of these things and it makes paying bills, planning for special events or even living day to day very difficult.


When you plan your finances, and are serious about your financial goals, you’ll be happier and less stressed out about money.  Once you know how much you spend, you can figure out how to cut back on the unnecessary expenses. 

 

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Wednesday, 18 October 2017
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