low to plan a holiday without financial strain

ARE YOU ready for your next holiday? Of course you are. And being sensible about spending — even if you spend a lot — allows you (and your finances) to [eel good about your holiday both while you are away and after you get back,

Whether you spend several hundred or several thousand dollars on your holidays, the fol- lowing guidelines can help you get the most for your money, Plan- ning your expenses is just as im- portant for individuals as for businesses,

Ideally, you should plan ahead so you pay for your holiday without having to borrow. And the best way to have the necessary cash is to earmark a lump sum if you have it. Otherwise, set up a disciplined savings and/or debt- payoff approach.

Let’s say you plan to take a special holiday this year. You estimate the travel, accommoda- tion. and meals will cost you $6,000 and you plan to leave in six months,

1) You have $6,000 in Canada

Savings Bonds (CSBs) so you des- .

ignate that money for the holiday, 2) If you don’t have an extra

$6,000, ask your financial ‘institu--

tion to transfer $1,000 a month to a special account Tor the next six months. ~:

3) You have $3,000 in CSBs. Set that aside and for the next six . months, have $500 a month automatically transferred to that holiday account.

4) If you don’t have any savings and can’t afford to put aside $1,000 a month, save. perhaps $500 a month. Borrow the re- maining $3,000 (a personal loan will probably be the cheapest way, followed by a line of credit, followed by credit cards) — pro-

MILYEUS FOR

DINNER

1495 Bellevue, W.¥an. 926-5113 &

vided you will continue to have that $S00 set aside every month after your return until the debt is repaid,

If you take a cruise or orga- nized tour, you probably prepay most of your expenses, Take trav- ellers cheques for the balance, and when that money is gone your spending is finished.

On other holidays, you proba- bly prepay your major transporta- tion, Then carry travellers cheques for the balance. If you use a cred- it card, you should keep a running total — perhaps starting out with your budgeted spending limit and subtracting each transaction as you go along. That way, you can fee how much money you have ert.

Let’s say you didn’t plan ahead. You still want to take that holiday this summer and don't have your finances organized. Or you plan a trip later and despite the best of intentions, just don’t get around to planning ahead.

Short of ‘cancelling your trip,

you can take certain steps to keep your finances as intact as possible,

Take a look at how much this holiday is going to cost. is that a reasonable amount, given your in- come and other expenses? [f aot, consider modifying the trip,

Perhaps take a less expensive holiday this time, one that won't strain’ your budget or increase your debt foad. You have to decide where this holiday ranks in priority compared with your other spending.

Sitting down to work out the figures doesn’t mean you have to change anything, but at least you can review your options,

How do you plan to pay for the holiday? The money has to come from somewhere. If you are ‘‘go- ing now, paying later,’’ arrange the most economical financing. And pay off the debt as quickly as you can. ‘

Once again, use the automatic monthly transfers -—- which can then continue when the debt is paid off to finance your next

° Consolidate various 15 RRSPs into one account

® No Fees

® Professional service © High yielding GICs and Government bonds

500 1066 Waar Hastings Sireet, Vancouver, Britian Columbia VEE 3x1

CALE DAVID BLAIR 844-5709

‘How to make the most of your home investment, This Thursday, February 78th - at 7:00 p.m. A short presentation by two respected authorities Elaine Douglas - Principal, Financial Finess Group: “Your home as an investment” . Bill Jennings - Sales Manager, Coldwell Banker / Argosy "The art of optimum buying & selling"

Your specific questions wilt be welcome Nothing to buy, no sales pitches and no admission fee RSVP “Sheila” at 922-2211. Refreshments served. EXPECT THE BEST

7:00 P.M. This Thursday

4925 Marine Drive, West Van. (By the fire hall) Coldwell Banker / Argosy Group, seminar office

| PARKGATE VILLAGE SHOPPING CENTRE

A new 90, 000 ‘sq.ft. shopping & service convenience .

RETAIL, RESTAURANT & OFFICE

’ Seeking Bookstore, Framing Gallery, Florist & Travel Agency. % Joey’s Only Seafood Restaurant’ — Franchise Opportunity Available.

1-7284

Interested parties contact Jeff Whitlock

Ceamane

holiday on a cash basis,

your holiday spending. Take trav-

ellers cheques for that amount and make that money last until you come home,

Most important, set a ceiling on

WORKSHOP TUITION INCLUDES:

* 4 hour seminar

* Hardcover copy of Unlimited Power Book * Free Audio cassette

* 1 br. private coaching session ('200 value)

YOU WILL LEARN TO: * Take action & produce results * Destroy limiting beliels * Communication & rapport building skis *Take controlofyouremotions = * Increase health & energy Wednesdays, February 17th, 24th .

Fridays, February 19th, 26th 6 - 10pm

Aniony . ;

#100- mm Melville, Vancouver

SEATING IS LIMITED. CALL TO ENROLL NOW (604) 683-5160

Presented and faciitated by tainers for Anthony Robbins & Agcociates™

Proserted by

sevoneecesanes Ca eceeeveseceescecceressrencenaees

TAVIINIINIVA LOAN##2090CAN - MAXIMIZE s0rR RSP

PPYPeTTPTTETe rrr retiree rier

If you don’t have the cash to make the highest allowable contribution to your RRSP, consider an RRSP Loan from Montreal Trust, At 19 below our prime rate, it makes sound financial sense. The tax savings and the future value of your RRSP

; contribution will far outweigh the cost of borrowing, ' Loan payments are automatically deducted from your Montreal _ Trust Money Master account, a high-interest savings/chequing , account required to receive this attractive loan rate. Ask your Montreal Trust RRSP Specialist for all she decails.

B MONTREAL TRUST

E eR Y

Minimum loan is $500 and is subject ro normal Montreal Trust credit guidelines, Rate subject to change without notice.

erunrocecetre eae se eoepvreescusnesaeseas

1524 LONSDALE AVE. N.VAN. 980-3355 1586 MARINE DR. W.VAN. 926-4365: