Consider several possibilities to reach your goals
There can be many ways to reach your goals. If your goal is to save $ 10,000 over the next two years to purchase a car, you’ll need to save $ 420 a month. You could deposit this amount into a savings account. To reduce your income tax, you could also deposit this amount into your Registered Retirement Savings Plan (RRSP) . So, you could put aside your tax savings to buy your car.
- How much do you need to save each month to reach your goals?
- How should you put your savings to grow your money?
- If your goal is to pay off your debts by a certain date, how much do you have to repay each month?
- Should you change your spending habits to save or pay off your debts?
- Would you be able to pay your bills if you lost your job or had an accident and could not work?
- How can you lower your tax?
- How much income will you need in retirement?
- How can you reduce the tax associated with your estate?
Three tools to help you explore the options available to you
- Calculator – Reimburse Credit Cards and Other Debts
- Calculator – Pay off debts or invest
- Calculator – RRSP Savings