42 - Wednesday, March 14, 1990 - North Shore News Business Hage Public’s awareness of financial planning rises CONGRATULATIONS! Even if you don’t realize it fully, you probably know more about money than you did a year or two ago. I have just completed a series of 16 ‘‘money shows” at which I spoke to more than 7,000 people. These seminars were co-sponsored by many of the papers that publish this column — including the North Shore News — and the Certified dollars and sense Michael Grenby Genera! Accountants Association of B.C. The level of knowledge among those who attended impressed me. Even if you didn’t attend one of the money shows, the fact you are reading these words indicates you take an interest in managing your money more effectively. Simply exposing yourself to ad- vice about saving tax, getting out of debt, getting into investments and other bits of information im- proves your ability to handle your personal finances better — again, even if you aren’t consciously aware of the process. People at those 16 money shows and readers of money columns like this ask more intelligent questions today than they did a few years ago. They — and you — might not think the questions are intelligent. But believe me, they are. I have been writing about money matters since the mid-’60s, so | can com- pare the types of questions and general level of financial awareness over 25 years. Even people who ask what they consider very basic questions probably wouldn't have known to ask any questions at alla few years Part of the reason for these changes has to be that financial planning was relatively simpler in the past. In the '50s and into the ‘60s, hardly anybody thought about shopping around for the highest rates on savings and the lowest rates on loans, or for the best banking service. Interest rates were relatively low and rarely changed much. Preparing your tax return was simpler. Ottawa had not yet come up with the various tax incentive and deferral schemes we know to- day. There was no capital gains tax. As far as investing, you could buy Canada Savings Bonds, invest in the stock market or buy revenue property. Mutual funds had not made their appearance. Registered retirement savings plans were only just being conceiv- ed. It would be years before finan- cial institutions or the public took enough interest in RRSPs to turn them into the complex, muiti- billion-dollar business they are to- day. Buying property didn’t take as large a part of your income as it does now. Prices didn’t rise or fall as dramatically as they have done more recently in many regions. In- flation in general stayed low. You could take out personal loans or buy with your department store credit card. But Visa and MasterCard did not exist -- not even in their original forms as Chargex and MasterCharge. There have always been ““savers’’ in the population. But it wasn't the sort of thing you discussed. (When I first described in my column how my wife Mandy and I often share a meal when we eat out, only on the quiet did many people admit they did the same thing.) In those ‘‘good old days,”’ fi- nancial planners did not exist. Life insurance salespeople sold life in- surance, stockbrokers sold stocks and accountants dealt with tax matters. Over-all financial plan- ning was done much more infor- mally if it was done at all. There were virtually no money columns, books or seminars to help you manage your personal fi- nances, although get-rich-quick See Knowledge Page 43 RRSP MATURITY OPTIONS SEMINAR day's choices Discover how you can for tommette fulure w's minimize or defer the tax payable when your RRSP matures. DATE: THURSDAY, MARCH 22/90 TIME: 2:00 p.m. LOCATION: PARK ROYAL HOTEL (RIVER ROOM) Special Guest Speaker Bruce Hirtle RBC DOMINION SECURITIES PEMBERTON FOR RESERVATIONS PLEASE CALL 925-3131 (Space is limited) Your Hosts: Steve Radcliffe & Bab Heinrich ad budget with co-op advertisin Most major manufacturers offer co-operative advertising plans. This means your purchases may have earned dollars which can pay all or some of your newspaper ad costs. It costs nothing but a phone cail to find out about all available co-op advertising dollars you qualify for. Bruce Methven Co-op Advertising 980-0511 THE VOICE OF WORTH AND WEST VANCOUVER: SUNDAY - WEDNESDAY - FRIDAY etringing _ Avajtable +. Furnace. and - "duct cleaning Charge it on your Sears account 921-3011 Call now: Offer expires March 28/90 Your money's worth __. and more \* 2 ofessional cleaning made affordabie LE ES OP: