Managing Your Finances

The following guide has been prepared to help you manage your finances and enable you to live a healthy and whole lifestyle. It isn't meant to replace the advice of a certified financial planner who is able to effectively assess and speak into the financial aspect of your life. Decisions made and questions resulting from this material should be brought to the attention of a certified financial planner who is able to assess your situation. We are unable to be responsible for decisions made resulting from this guide as it has been prepared for a general audience only and not the results of an assessment of your specific situation.

Tips To Pro-Actively Manage Your Finances:

• Set aside three months worth of income into a bank account with a 3% - 4% interest rate. In the event of health challenges this money will assist you with your cost of living, in addition to what disability pensions your employer and government may offer.
• When you become a parent take out life insurance to provide for your children in the event of a tragic accident or death.
• When you own a home money needs to be set aside for its maintenance each month. This is to cover repairs, such as shingling, maintenance to your furnace, replacing worn out facets, lights and major appliances.
• Owning a vehicle is a big responsibility. Your income needs to be able to provide for fuel, insurance, maintenance and government certifications, depending on where you reside. It is worth having a vehicle assessed for the wear and tear of the major components prior to purchase so you are able to estimate if you will be able to afford the maintenance over the next twelve months. Determine what size vehicle is practical to meet your needs.

The Cost Of Food And Eating A Healthy Diet

Tips To Saving Money:

• Buy in bulk: Grocery shop with your house mates. Larger quantities tend to be less expensive
• Purchase a coffee maker: Brew your morning cup of coffee yourself with a programmable coffee maker, instead of using the drive thru at the local coffee shop.
• Purchase a freezer: Prepare and cook extra food as an alternative to eating out or for use when you don't feel like cooking

Lifestyle Tools

Cell Phones:

• Cell phones are a great way of staying in touch with family, friends and contacts. There are plans available to meet any budget and lifestyle need. In addition to the monthly service charges you should be setting aside money in your budget each month for the purchase of your next cell phone. This is to pro-actively address accidental loss, damage to the equipment, theft and natural wear and tear of the device.

Home Entertainment (Telephone, Long Distance, High Speed Internet and Television):

• The market place is very competitive for home entertainment. Bundling home phone, long distance, high speed Internet and television services from one provider tends to be less expensive per month than having multiple suppliers. Before pursuing a bundle ensure it will meet your needs. Questions to be asking may include the geographical area and hours covered by the long distance package and the band width the Internet component will supply you with.