THUNDER BAY – Is there always too much month left at the end of the money? For many people across Canada money problems hit hard. Experts suggest that having a financial plan is a good way to overcome financial issues.
Many people don’t have any real financial plan, and as the old adage goes, “You don’t plan to fail, you fail to plan”.
Sometimes it is little expenses that quickly add up that really chew up your monthly money.
Take one of Canada’s favourite indulgences. That “Double-double” or “Triple-Triple” in those familiar red cups. At $2.00 per cup, over the course of a month, it adds up fast. Simply one cup a day is a monthly expense of $60.00. Double that for a couple.
How many people do you know who (maybe even you) who have one on the way to work, one at lunch and another in the afternoon? It is a simple expense that if you trim it back can easily save you a lot of money every month.
Simple and silly expenses are often the trappings that hold people in poverty.
Take a look at your spending habits, are there things you do that add up over the course of a month to a far larger amount of money than you thought?
Those are often the expenses that hold you back.
In the case of coffee, at the end of the year, at two coffees a day, you have spent $1460.
Imagine what you could do with that money if you were to save it? For many families it is a months worth of groceries, all on one simple but easy expense.
