HOW TO SAVE MONEY LIKE A PRO
Let’s talk about money for a second. It’s a sensitive topic and no one likes to talk about it but I think it’s important. Trust me, I’ve learned the hard way.
When I was a teenager, I went out and got my first job so I could buy clothes. Saving wasn’t part of my plan and was more like a foreign concept to me that only adults had to deal with. I just wanted new stuff so I could keep up with the trends in Vogue and Harper’s Bazaar. I was a delusional kid living vicariously through fashion magazines. Not good.
A few years later I went off to college and surprise, surprise - I blew more money on clothes. I was at the Gap weekly stocking up on what? New khaki’s?! Who knows!
When school ended, reality hit and I started getting bills. First for my new car - a shiny red Volkswagen Beetle that I loved more then anything, and then for my student loans. So much for blowing all of my dinero on clothes.
The next years were similar – pay bills, spend the rest on clothes. At this point I knew I needed to save so I could move out and I promised myself, “next pay, next pay”. Needless to say it never amounted to anything.
The thing is I never learned about money until I met Geoff. Living with my boyfriend, now husband, meant I was paying for groceries and paying a mortgage. If I wanted something, I had to save because there was no way my marketing assistant job would allow me to buy a designer bag or a new wardrobe every couple of weeks.
I’m telling you guys this story because I know I’m not alone. I was financially irresponsible for so long and it turns out all I needed was a no-brainer savings account to help me save for a rainy day.
HOW TO SAVE $$$ LIKE A PRO
First, set yourself up with a Good to Grow High Interest Savings Account. That’s a no brainer right?
HOW IT WORKS
• You get to set a maximum and minimum transaction account balance, and each night, Sweep feature will transfer funds from the chequing account to the high interest savings account or vice versa to keep you on track with your goals.
• If the balance exceeds the set maximum, the Sweep feature will transfer the excess funds back into the high interest savings to boost your savings.
• In case your chequing account balance dips below the set minimum, Sweep will automatically rollover funds from the high interest savings account. This is excellent so you’re never overdrawn.
Currently this is the only type of service like this in Canada with the high interest savings account of 1.50%. There are no monthly account fees and you can access your money 24/7 either online or through the phone.
This post was sponsored by Meridian. All opinions and pictures are my own.