Top Financial Priorities for 2018

It's a new year which means new year resolutions. Many people will find financial resolutions on their list. Here are the Top 8 you should keep in your goals.

1) Paying Down Debt - Get rid of high interest credit cards. Try to use cash when possible to make purchases. If you are going to use a credit card, try to pay it off right away to avoid intrest from accruing.


2) Paying the Bills - There are necessary bills we all have to pay but there are some that we can reduce on a monthly basis. Some suggestions I have gotten from famiizuu members include: getting rid of the cable bill. Many people are paying a lot of money for channels they never watch, so call the cable company ask for a plan to inclde what you want to watch without all the extras. Anothe suggestion is taking away the home phone. Pretty much everyone has a cell phone now a days and the home phone has become a thing of the past. It can help save you up to $60 a month depending on the home plan you have.


3) Growing Wealth/Investments - Hiring a finacial planner is good way to help with your investments. They will help advise you in what the plans are to help grow your investments or savings. Whether it be stocks, TSA or RRSP's, they will direct you to the right path. Remember to do your research when picking the right planner and investments before making any final decisions. The planner will help you but the final place you put your money is your decision.


4) Have a Well Stocked Emergency Fund - Cars break down, pipes break, things find a way to break down at the worst time. Having a "Rainy Day" fund will help take some of the pressure of these emergency situations.


5) Saving for a Vacation - We can all use some time away for rest and relaxtion. Whether it be to an exotic destination or a weekend at Blue Mountain, saving for it over time will help take away the financial burdens that can come with that fun time.


6) Saving to Buy a House - Currently renting? Have a small house that the family is outgrowing? Buying a home comes with financial burdens that include where to get the down payment and how much can you afford to pay monthly for the mortgage. Start putting some money away before going out to look for your dream home so you have a start for what you need when you do find your dream home.


7) School Fund - Being a parent has it's wonderful moments but also has some stresses. Knowing that your kid is one day going to go off to college or university brings proud feelings but worry about what it is going to cost you. Starting an RESP while they are still young or opening a TSA for them is the perfect way to help take away some of the future worry.


8) Retirement Fund - Securing your future for your retirement is another important goal to have. We often see seniors working in retail to help make ends meet. Retirement is supposed to be a time of rest and relaxtion, not worrying where the money to pay your bills is going to come from. Start an RRSP or TSA to help your retirement be all that you are hoping for.