“

-

off you'll be. $100 a month
at 12% over 35 years is
$643,000. Over'40 years it
becomes $1.1 million. In
other words, if you start five
years sooner, you Can eam
an extra $400,000.

Where does it all go?

Before you can Start an
investment habit, you need
-the $100 a month to invest.
Truth is, most of us get to
the end of the month with
only a vague idea of where
we spent our paycheque.

Make a budget.

At very least, a budget
itells you where the monev’s
going and gives you an idea
of where you can
reasonably cut back. At
very best, it forces you to
make decisions now about
your short term and iong
term financial future.

Too many credit cards.
If you get to the end of
the month without any
money, a credit card is the
likely villain. Consumer
credit is a runaway train —
once on, it’s hard to get off.

_ And it’s very, very easy to

get on. Two out of three
people say that credit cards
make it all too easy to buy

. things. According to market

research, they’re absolutely
right. Before you know it,
you've racked up several
thousand on the cards, and
you’re paying 19% to carry
it. .

Stop using credit
indiscriminately. _

18% of British Columb-
ians have 6 or more credit...
cards. Cut up 5 of them.
That. will automatically
limit the amount of debt
you bury yourself in. Next,
pay off your credit card
debt (19% interest) by
getting a personal
consolidation loan
(presently at 12% interest)
from your nearest financial
institution. Last, rein in
your appetites. Most of us
don’t need 10 pairs of
shoes to lead full,
happy lives.

Not having a plan.
What is a full, happy life
anyways? Exactly what are
your personal goals. Start
your own business? Own a
sailboat? Send your kids to
university? Walk across
England? If you don’t know
‘where you want to be,
-you're not going to know

how to get there. Indeed,
most of us are drifting in
the investment tidepool.
That’s why we're sloppy
investors. We sait it all
away in GICs or a three-
bedroom bungalow. We're
too easily swayed by flashy
ads or fear. Or we diversify
our investments into some
haphazard chaos, chasing
the latest, greatest interest
rate.

Stay calm and think it
out first. Make a plan.

Understand what it is you
want from your money and
then figure a path to reach
it. Start reading. See a
financial advisor. Take a
financial planning course.

Procrastination.

This may be last in our
top 5 list but it’s certainly
not least. All of the above
doesn’t amount to a hill of
beans unless you do
something about it.

Buy that mutual fund.
Get that term deposit. Make
that appointment with a
financial advisor —
whatever it is, do it today.
Now.

The home
check-up, cont'd
from page 2.

Exterior walls:

On stucco walls,
Vancouver’s favourite, look
for cracks, chips or
loose/damaged areas. All of
these mean that water is
getting behind the stucco
and damaging your home.
On wood siding, look for
decaying or rotted areas
using the ice pick trick.

Condensation:

Frost or ice on the inside
of the windows? On door
knobs? There’s too much
moisture in your home, a
sign of inadequate
ventilation. Open some
windows or install exhaust
fans.

Roof:

Shingles or shaire roof?
Watch out for moss. It
keeps wooden roofs damp
and promotes rot. Remove
the moss 2nd treat the
affected area with a wood
preservative. Asphalt
shingles? Look for curled
and cracked ones. Repair
them with roof cement.

oe

wo new
directors were
elected to the
Board of
Directors
during April's
elections.
Verne Prior is
a senior
communications
co-ordinator
with BC Hydro.
He and his
wife moved to
the North
Shore from
Winnipeg in
1989 and
joined our
credit union at
the Dollarton
branch.
Doug Deeks
has worked the
last 40 years
as a chartered
accountant and
certified
management
consultant.
Last May, he
and his wife
moved to
Whistler where
they joined
North Shore
Credit Union.

” ) Please give your age, and the age of any other Communicator readers in your family: <.

O.- N

“ 6) Please rate the editori

12.354 5

on ‘Mhere do you usually get your copy of The Communicator?
* Dat sy branch”
"Glin the Whistler Question’ © from a friend/family. member.

Clin the North Shure News: C1 in the Westend

9) What is your job?

10) Which community do you live in?

11) Are you @ member of North Shore Credit Union? Yes _ © No.

12) Which branch of North Shore Credit Union do you use?

Comments in the Communicatce are of a general nature and are not intended to be financial, legal or tax advice to any.
particulsr person, Before acting on comments herein, readers are urged to contact their professional advisors — or ours.
We have a retirement counselling service which is only too happy to discuss your specific’ situstion. :

November 1, 1991 — North Shore News =