Watch Your Money Grow! Our Top Ten Savings Tips

By RBC Modified on November 22, 2017

Make your money grow faster

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What do you have your eye on? A smartphone, gaming console or concert tickets? Or maybe something bigger like a car when you get your license, or university tuition?

Whatever you’re saving for, two things are for sure:

• The goal you’re saving for is important to you

• Saving up for it isn’t as easy as you’d like it to be

The good news is, there are ways to make saving your money easier, so you can reach your goal faster. Here are our top 10 savings tips that can help you get what you want sooner.

1. Pay yourself first. When you get money – whether it’s through allowance, odd jobs, a regular job or gifts for special occasions – set aside as much as you can before you do anything else with it. You might want to come up with a standard percentage for every time you get paid – say 50%. In that case, if you get $10 for cutting your neighbour’s lawn, put $5 aside right away and then make plans with the other $5.

2. Ask yourself why. It’s easy to spend money. And brands, stores, celebrities and your friends will only make it more tempting to spend what you have. Before you do, just ask yourself why you’re spending on the item in front of you. Do you really need it, or is it just easy, convenient, and trendy to buy it?

Read the rest of our tips here.