How to travel
with money,

from page 1.

travellers cheques is
simple — the fewer
currency exchanges vou
make, the more yeure
ieft with to spend -— 1
you're going to Frygland,
get vour travellers
cheques in English
sterling (Our branches
can help vou wath all the
miajor currencies).

Third, cold hard cash

Cush ts wonderful —
particularly in that
picturesque, backstreet
bistro that thinks a Visa
is a new Ford
subcompact! No one
argues with cash,
provided thes recognize
it—- that’s where the tun
oegins. Exchanging
Canadian dollars in
other countries can be a
shock — how about a $5
fee for changing $20 inte
franes!! Wo vou need
franes. buy them before
you leave. Your credit
union, bank. er a map
currency exchange
company tike Peak
International can help

Dragging bags af cash
around can be a problent
— it’s easy to steal and
some countries can be
downright nasty about
hauling it across their
borders. Take just
enough to cover Canis,
lips, and the occasional
meal.

Cash, credit cards, and
travellers cheques — it’s a
simple strategy Chat wll
get vou there and back.

>

irked? Happy?
Confused? Quesnons?
Well make a spies ter
you. Please write or fas
your letters to the The
Moneys Manager”.
North Shore Credit
Union. 307-1112
Lonsdale, North
Vancouver VIM) 28>
Fax: 985-6810

Friday. June 28 1991 - North Shore News ~ 25

A special issue
Money Manager.

it this Money Manager,
we're going to teach
you how to calculate

your net worth. Perhaps
the word “‘teach” is a bit
strong — this is easier to
do than spending five
bucks at a grocery store!

But why would you
bother to calculate your
net worth?

You may have noticed,
we're in a recession. Even
the Federal government,
which uses optimism
intravenously, broke
down and admitted to
the “R” werd a few
months back. Now don't
panic — this is not
necessarily a bad thing.
Particularly if you still
have your job. Talk to
any financial planner and
they will tell you a
recession is the time to
invest. Stock prices fall.
Luxury items, like boats,
can be had at bargain
prices. Interest rates
drop: witness 10%
mortgage rates, a wild,
crazy dream mere
months ago. It is a fact
of financiai wisdom that
the way to get ahead is
to buy cheap and sell
dear. A recession is when
you buy cheap.

But before you lash out
and nab that weekend
chalet or 30 foot dream
boat, take another shot of
financial wisdom and get
your financial house in
order first. Never get in
over your head. But
obviously you first have to
know how tall you are,
fiscally speaking.

Which brings us back to
how to calculate your net
worth. Just fill in the
spaces and add up the
numbers — and keep us in
mind for that investment

loan. <>

Chequing accounts

Savings accounts

Short term deposits (up to 6 months)
Life insurance cash value

CSB (Canada Savings Bonds}

SEMI-LIQUID ASSETS
Mutua! Funds

Stocks and bonds
Medium term depasits (up to 5 years -- e.g. GICs)

Money owed to you
Subtetal
RETIREMENT ASSETS
Registered pension plan {company RPP) |
Registered retirement savings plan (RRSP)

Subtotal
PERSONAL PROPERTY
Automabiles

Household furnishings

Art, antiques, jewellery —
athe sd

Subtotal
BUSINESS
Business interests (market value}

REAL ESTATE
Your home
Recreation home or other properties
Subtotal

TOTAL ASSETS {A}

Personal loans
Bank leans

Mortgage on principal residence
Mortgage on other properties
Credit card debt

Life insurance loans

income tax owing

Charitable pledges
[ ther

{ Market value
| Asset (A)
Liabilities (B)

‘Net worth (subtract B from A)