Establish a plan to achieve your goalsFinance 

Establish a plan to achieve your goals

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.

  1. How much do you need to save each month to reach your goals?
  2. How should you put your savings to grow your money?
  3. If your goal is to pay off your debts by a certain date, how much do you have to repay each month?
  4. Should you change your spending habits to save or pay off your debts?
  5. Would you be able to pay your bills if you lost your job or had an accident and could not work?
  6. How can you lower your tax?
  7. How much income will you need in retirement?
  8. How can you reduce the tax associated with your estate?

Three tools to help you explore the options available to you

  1. Calculator – Reimburse Credit Cards and Other Debts
  2. Calculator – Pay off debts or invest
  3. Calculator – RRSP Savings

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