ut ‘lazy r money to work = Mike Grenby and sense MILLIONS OF Canadians have hundreds of r:iions of _Jazy dollars lying around. ‘And these days that’s a luxury most of us cannot ‘afford. : Yet you can easily — '- “put that money back ~ ° “to work, and increase our return five- fold . or more. * I'm talking’ about : -the balance in your “savings or savings- “chequing account. Even if you have a... “fluctuating balance ‘that runs up to as much as a few thousand dollars now. and again, you are probably ‘still earning less than a penny a day. in interest. The rates on most sucht The best GIC Rates! balances run well under one per- cent, Gone are the days when bank balances paid five or six per cent, But you can still earn such returns if you move any excess money into easily accessible instruments like a short-term deposit, cashable longer- term deposit or money market fund, As I write this, such invest- ments typically pay five or six per cent. We have just gone through the annual Canada Savings Bond sea- son —‘another prompt to review your finances. Many places have been offering competing products with similar features to CSBs. Review your account balance(s). What's the lowest amount you need to cover your day-to-day expenses? Also consider any minimum bal- 66 If you have small balances at sev- eral institutions, consider combining the funds... If you rely on cash flow, ease the strain by putting at least part ' of the necessary mopey aside each payday. 99 ance required to waive service charges on the account. Let's say you move $5, 000 every coupie of months into short- ‘ sivscs. @ aff DEPOSIT f BROKERS Call for these rates ; today! FIRST CIRCLE 986-3200 FINANCIAL SER * Subject to change ACES LTD. #501--221 W. cnaeansan m “You Only Retire Once. — Do It Right! . If you have questions about what to do with your RSP investment when | you retire, we've got « few words of advice for you in our free Top 10 Strategies For Successful RSP Investing Brochure. term deposits ora money market fund and then after a few months, back into your account again as you need the funds — instead of leaving the money in a regular account the whole tine, That could increase the interest you receive for the year to perhaps $150 from $25- If you have small balances at several institutions, consider com- bining the funds, And while you ure ina financial mood, estimate how much you are likely to spend in the upcoming holiday season on gifts, food und drink, other entertainment and per- haps a ski or sun break. Then — and call me Scrooge if you like — decide if you can afford that amount, If you can’t, list all the expense items in order of prior- ity and trim from the bottom. If you feel comfortable with your holiday spending money will come from ~~ typically cash flow, savings and/or borrow- ing. If you rely on cash flow, ease the strain of the necessary money aside each payday, Build up a holiday spending ‘account: when that money is gone, your spending i is over. Finally, if after doing the above plans, decide where the © by putting at least part’ review, you find you have some extra cash, consider dividing it into four equal amounts: (1) reduce debt; (2) make an early RRSP contribution; (3) keep as an emergency/opportunity reserve; and (4) spend and enjoy. Mike Grenby is a North Shore- based coliunnist and independent financial adviser who warks with individuals; he will answer your questions in this calumn as space allows, Write ta him c/o 2444 Haywood Avenue, West Vancouver, B.C. V7V LY7. Bring in your old computer ; for consignment. Allsystems ~ § .come with a 30 & day warranty PC. GALORE CONSIGNMENT ETD. VANCOUVER'S FINEST COMPUTER CONSIGNMENT STORE 119 Lonsdale Ave. | 990-0547 2744 W. 4th Ave. 732-7816 | ‘di like your advice ... we iMG YOUr 2aivice wun CXY Chemicals and Sterling Pulp Chemicals of North Vancouver are looking for 12. volunteers to participate in a Community Advisory Panel (CAP). If you are a local resident who is interested in ensuring our community remains a good place to live, we ask you to consider helping us out. ; “