Painless
ways to
save your
earnings

aside money for a rainy day
comes easily.

. By Garry Bader
Contributing Writer

But for those who find saving
_ difficult, it’s a good idea to get §
‘into the habit of ‘‘paying —
. yourself”? a certain amount to be
put aside to earn interest. or divi-
dends. .

These payments should be just
as automatic as income tax deduc-
tions. It’s up. to you how much
you deduct, but savings should be
looked upon as being untouch-

» able, as if they were owed to
somebody else (until you have a
special | use for it).

It’s important to build a certain

" “pércentage into your savings ac-
’ .“Gount for emergencies, or to allow
“you to take advantage of a new. or
che lienging opportunity should it
- présent iiself. It wouldn’t be. un-
--Feasonable to aim for the
equivalent of three or four. months
_ income in your emergency fund. -
a .Tkere are'a number cf relatively
‘. painless ways for those of us with
slippery fingers to hold onto some
_ of our money.. ‘
One way to‘sa for. the ‘short-
» term is to automatically transfer a
set: ‘ amount :- from your chequing
_, account: to your’ savings ‘account’
each month: Gr pay day. Figure
out how much you can afford to
"" putvaside,-and transfer it.as soon
as. your. regular paycheque goes Ei
into your ; account... -

‘If you're’ not a “member of ‘a -

“ pension plan, you should consider:

Starting a ‘retirement ‘savings nian.
Although government pensions are

: available, whey. may not .be suffi-

life le. = . oge .
“One of the easiest and smartest 4 Ur Senior Citizen Day is a great
-methods fer long-term’ saving .is : way for you to buy all the things

to make monthly contributions to

_~ a Retirement Savings Plan (RSP). you want for yourself or your
_ All you have to do is set up pre- ff . °
“gutherined nayment withdrawals J Qrandchildren. Since some of
“Sly is contributions are | YOU look younger than you are,
ieway to ace § just bring proof of age (Senior

hey give you a

oo) a same time. And | Citizen's Card, birth certificate,
“Qi  YOUr mdard oO i = *, et
ing ” wail eee samy for your r: dr Ivers license, etc.) ;
later years. - “a . . .
- Apother way of saving for the § Thursday, Sept. 24th —
longer term is to make reguiar §

contributions to a mutual fund. § Shop the day away!
As with RSP contributicns, you :

’ simply advise | your tank to deduct ff Free Tea or Coffee for

‘a certain amount cach month to

go ‘towards buying mutual fund § Seniors at
’ . units or shares.

And there’s an added benefit to f Sears Capilano Mall Store.
this method (particularly if you & \

. put. your contributions into an — ” — " . .
RSP). Called dollar ‘cost pveras- if . d t f ¢ i f 5 " .

ing,- here’s how’ it works. ur-

chasing the same dollar value of Discount oes no app y 0 Ca a ogue i ems or our
mutual fund units or shares, you § a . a

wes oH uehes"purckaced sen already low priced advertised items or

morch (because of the fuctuating § . . .

priesoftheshare). already reduced non-advertised speciais.

they will generally do over the : NOT INCLUDED ARE: cosmetics, fragrances, major appliances & microwaves, office equipment, photography and

long term, you'll end up paying & photographic supplies, custom-made drapes, stereos, TVs, videos, iiistallation and instalied home improvements, licenced

less than the average share price. § concessions, Sears bookstore, Sears Travel, Portrait Studio, Ticket Sales. Scotchguard® , watch repair and gift certificates.

Your local bank branch can ex-

-plain how this works in more §
detail. a i
Another popular way to save is §
to buy Canada Savings Bonds @ ;

through your company’s payroll Personal Shopping Only!
deduction. Of, if your employer §

offers an employee savings share § : -
ownership plaa, take advantage of § ~*~ _—
it. By instructing your employer to & aa b=

deduct a smal! percentage of your
annual salary each pay, you can ff CA PILA NO iS Z L . 9 8 Ss. L722
watch your investnient grow with § your money's worth... and more =
your company. i j _ _ 0 Parking