We focus on Retirement Income Planning and offer insurance, and investment strategies to individuals, businesses, and families at all states of life.
Some life purchase goals can seem impossible. Saving a down payment to buy your first house, repaying student debt or saving for a wedding can all seem insurmountable, especially when you’re young and just starting out in your career.
With the right mindset and a solid personal budgeting and saving plan, we can help make these dreams purchases a manageable reality.
Creating or following a personal budget might be a necessity if you’re saving for a large purchase, facing changes in your employment situation, or looking to start or grow your family.
The truth is that less than half of Canadians follow a budget. While you might think that you’re doing well enough if you can afford to pay your bills each month, a recent study found that 90% of us feel like we have more debt today than we did five years ago. While we might be hard-pressed to accurately describe where we spend our money each month, the ease of online purchasing and the convenience of grabbing coffee on the go or having fast food delivered to our doorsteps can quickly add up in ways that many of us would never expect.
Setting a personal budget helps you understand where you’re spending your money and makes you conscious about your purchasing decisions. By carefully tracking how much you’re spending and on what, you can begin reducing superfluous and unnecessary spending. By making smart spending decisions you can start building your savings and work towards buying the home of your dreams, starting your own business, contributing to your investment portfolio or other life goals.
We can help you create and then follow a budget to help you achieve your large purchase goals. Let us show you the way.
Setting your budget is a great start to managing your personal finances and saving for a large purchase or building your investment portfolio, but it’s just the start. While a personal budget reconciles the amount of money you expect to earn and how much you expect to spend in different purchase categories, cashflow management provides more detailed tracking of when you expect to spend your money.
Personal cashflow management considers regular spending transactions like paying your rent or mortgage, buying groceries, and paying your cell phone bill, as well sporadic spending like car repairs, going on vacation and holiday gift buying.
By managing your cashflow, you can make sure you stay within the constraints of your budget but have enough money to pay for regular and irregular spending throughout the year.
With the right approach, we can guide you along the path of effective cashflow management. Let us be your beacon to financial independence and security.