n't take a IT’S SUMMERTIME, the living is easy, and most of us are taking a holiday from thinking about our money, too. I don’t want to interrupt that break. But even though summer- time is a slow time financially, you should check that your dollars are still making sense. Tick any of the following items that require attention, and circle or highlight the steps to take. Then clip this column and tape it to a visible part of your home (the Gollars and sense Mike Grenby bathroom mirror is my favorite “reminder’’ place) until you have taken those steps. Draw up a financial plan. - Write down why you go to work every day,or why you are in- vesting your money if you have retired. List your objectives — for example, pay off debt (see next item), buy a home, have enough 13-piece set e Umbrella «5 Cushions e Base e 4 Chairs : 6 Piece Set TABLES 10 SIZES AND DESIGNS From °49* to §495° Resin, Wood, etc. ‘LOUNGES From $89°° to $465° Steel, Resin, Aluminum * Table ° Lounge Table, 4 resin chairs & umbrella money to spend without worrying, buy a new car, take a holiday, retire soon, spend everything/leave an estate — in order of priority. - Write down the steps needed to reach those objectives: Review in- come and outgo. Re-adjust your spending to achieve your objec- tives. Perhaps re-adjust your ob- jectives. Establish a realistic time frame to achieve those objectives. Pay off debt. - Attack either the most expen- sive or the smallest debt first. When it has been repaid, use those payments to help bring down the next debt more quickly. - Reorganize your debt, con- solidate debts at a lower rate, in- crease the amount or frequency of debt payments, reduce amortiza- tion period (the time needed to repay the debt completely), try to make debt deductible. - If you are addicted to credit, cut up credit cards and cut off lines of credit. Imp!ement your financial plan. - Contact your financial institu- tion(s) and adviser(s) to set up debt reduction, savings and investment programs (save first, live on what’s left). Meet with yourself or your fami- ly every month to review progress. Make changes as necessary. Save income tax. - Consider a registered retire- ment savings plan (see next item). Split income. For example: lower income spouse invests; lower-income spouse sells assets to higher-income spouse to provide funds to invest; family allowance payments go into child’s account; Reg. $1095.00 Sale 5699 $GQ00 Cash & Carry UMBRELLAS OVER A’HUNDRED SIZES 529° to S269 CHAIRS NINE DESIGNS IN RESIN From $45% to 5489° OPEN FRIDAYS TIL 9 p.m, Sunday 12-5 p.m. holiday fr BUSINESS lower-income family members work in family business. Keep careful records of all such ap- proaches. - Get a tax tips book(let) from the bookstore, library or a major accounting firm. - If you are self-employed or otherwise have your own business, see an expert adviser to help you - structure cash flow, investments, trusts, pensions, life insurance and other details to minimize tax. Make your 1988 registered retirement savings plan contribu- tion now. - Every dollar of interest (or dividends) is taxable. The sooner you move the money into an RRSP, the sooner it will start to grow tax-free. - Use pre-authorized cheques or a similar approach to make automatic moathly contributions. - If you are married, consider contributing to a spousal RRSP toward splitting income and saving tax. Review your savings and in- vestments. ~ Make sure your money is earn- ing the highest return, according to the amount of risk you are prepared to take and the amount of time and expertise you have to manage your money. - Investigate new areas of invest- ment. Commit a small amount of 25 - Wednesday, July 13, 1988 - North Shore News money as a learning experience. - Diversify both among and within various investment categories. Review your insurance. . - Ask an objective, expert life insurance agent to help you have the correct amount of coverage through the most appropriate type of policy and the most competitive company. - Review your home and/or possessions insurance policy to m money matters make sure you have an adequate coverage (and a list or at least photos of all those possessions). - Carry $2 million minimum car liability insurance -— more if teenagers drive your car or your responses aren’t quite as fast as they used to be. Bring your estate planning up to date. See Plan JULY 1. 1988 HUGE SAVINGS ON: ° Clutch parts e Brake parts Parts GUARANTEED RATES Guaranteed Investment Certificates $500 + (Term: 2 years} GUARANTEED RATES Guaranteed Term Deposits VARIABLE RATES & LIQUIDITY Total Money Market Account $50,000 + NORTH VANCOUVER 1407 Lonsdale Ave. 980-5714 Brentwood Sh. Ctr, 528 - 4567 Lougheed Hwy. WEST VANCOUVER Park Royal Sh. Ctr, 299-9585 922-9191 $5,000 + (Term: 270 - 364 days) RICHMOND 100 - 6760 #3 Road VANCOUVER 2799 Granville St. 2156 West 4ist Ave. 686 Burrard St. 270-3133 736-2931 266-1033 684-8431 e Water pumps ¢ Alternators Service Rates effective at ime of printing Cheek with any National Trust branch for our most curtent rate NATIONAL TRUST A Nanonal Victona and Grey Triste Company Member: Canada Deposit Insurance Corporanon