Blane Posted November 23, 2005 Report Share Posted November 23, 2005 Thought I'd see what others do. Since going back to school, I've had a tough time putting much cash aside, and I'd like to be able to buy a place in the next few years. I'm putting away 100.00 per month right now into a mutual fund, but it doesn't seem to be growing very fast. Sometimes I worry I'll be like 40 years old before I can stop paying rent (without taking out a 200k mortgage!)Any ideas? Link to comment Share on other sites More sharing options...
Jaimoe Posted November 23, 2005 Report Share Posted November 23, 2005 I started investing when I could realistically afford to. I've been putting money away for around 9-10 years - and I got a late start. Everyone should start to invest for the future, even if you put in only a small amount. I wish I started earlier. Link to comment Share on other sites More sharing options...
Im going home Donny Posted November 23, 2005 Report Share Posted November 23, 2005 sorry bud. I have a horrible sinking feeling I'll be eating cat food....I'll share it with ya though. Link to comment Share on other sites More sharing options...
phorbesie Posted November 23, 2005 Report Share Posted November 23, 2005 nope, nothing. and anything i do save, will be for an extended trip to south america. ) Link to comment Share on other sites More sharing options...
Basher Posted November 23, 2005 Report Share Posted November 23, 2005 I put $30 a week into an ING Direct account. This is more for the future that will exist next Halloween, when I want to go to Vegoose again.If anyone else is interested in opening an account with ING Direct please let me know - they will give us both $13, free! Link to comment Share on other sites More sharing options...
MamaPink Posted November 23, 2005 Report Share Posted November 23, 2005 when i was saving for my house I also threw lots of cash into my ING Direct account. The major savings came from quitting drinking!!! I figured, one year of no parties for a lifetime of no rent was worth it - and believe me, it is SO worth it! Link to comment Share on other sites More sharing options...
Blane Posted November 23, 2005 Author Report Share Posted November 23, 2005 The major savings came from quitting drinking!!! Sorry didn't quite catch that. Link to comment Share on other sites More sharing options...
Guest Low Roller Posted November 23, 2005 Report Share Posted November 23, 2005 RRSPs, stocks, bonds, as many assets as possible, and hopefully real estate soon enough. Link to comment Share on other sites More sharing options...
MarcO Posted November 23, 2005 Report Share Posted November 23, 2005 I find this thread depressing. Link to comment Share on other sites More sharing options...
TomFoolery Posted November 23, 2005 Report Share Posted November 23, 2005 I've got a killer beer cap collection Link to comment Share on other sites More sharing options...
Del Posted November 23, 2005 Report Share Posted November 23, 2005 I find this thread depressing. Agreed... Link to comment Share on other sites More sharing options...
Blane Posted November 23, 2005 Author Report Share Posted November 23, 2005 not trying to preach, and hell I don't even mean for retirement or anything, but just setting money aside for a project. I hate the thought that I wouldn't be able to do something I really wanted to do because I couldn't pull my shit together enough to save a bit of coin. by the way, what's teh deal with the ING accounts? Are they decent? Link to comment Share on other sites More sharing options...
SevenSeasJim Posted November 23, 2005 Report Share Posted November 23, 2005 Buy a house instead of paying rent. My mortgage is cheaper per month then when I was paying rent.I save for the future by marrying a teacher :grin:(one of the best pension plans anywhere). Link to comment Share on other sites More sharing options...
Birdy Posted November 23, 2005 Report Share Posted November 23, 2005 i put fifteen percent of my weekly paycheque away in a mutual fund.. automatically debited by the bank.. which is a good way to go.. during the first few weeks you'll feel uncomfortable about it, but then it feels normal.. also every sunday i make a point of completely emptying my wallet of all cash no matter how much there is.. i keep this stash at home and use it for trips, etc.. stuff like that. you'd be surprised how quickly it adds up. Link to comment Share on other sites More sharing options...
Jaimoe Posted November 23, 2005 Report Share Posted November 23, 2005 Of course when you get a permanent job, the company will hopefully have investment policies for your personal savings. If you are lucky enough to be in a union, then you'll be part of a pension plan. Link to comment Share on other sites More sharing options...
guigsy Posted November 23, 2005 Report Share Posted November 23, 2005 i got a big water cooler jug that i've been throwing change into for a couple years. Link to comment Share on other sites More sharing options...
balogna pogna Posted November 23, 2005 Report Share Posted November 23, 2005 I was putting money in a swear jar but Jay and Duane can't keep their fingers out of it.I'll get them yet...... Link to comment Share on other sites More sharing options...
Del Posted November 23, 2005 Report Share Posted November 23, 2005 I didn't touch the swear jar money... How much did Shawnald have to contribute to that this weekend after the... unpleasantness? Link to comment Share on other sites More sharing options...
Alexis Posted November 23, 2005 Report Share Posted November 23, 2005 i have a big fat rrsp i bought when i was 18. other than that...not much.oh wait...del got me a plastic piggy a few years back and i put my pennies in it and a couple weeks ago i couldn't fit anymore in. so cut the lil piggy and boy did he squeal...and i got $33 in pennies! now imagine if i'd done that with loonies or twoonies or something. that's how my parents sent me to summer camp every year....collected change.get an ing savings account. and save your money. seriously...it's like 2.5 or 2.9 % interest. compared to 0.000009 the banks give you, it's good. Link to comment Share on other sites More sharing options...
Tooly Posted November 23, 2005 Report Share Posted November 23, 2005 i think i should take my 100 in change to ING they have a hamilton branch? or is int all on the interweb? Link to comment Share on other sites More sharing options...
Alexis Posted November 23, 2005 Report Share Posted November 23, 2005 it's all on the interweb and p hone.i think you set up the account and transfer moo lah from one acct to the other Link to comment Share on other sites More sharing options...
shainhouse Posted November 23, 2005 Report Share Posted November 23, 2005 I try and save about $100 per month as well. I have an investment savings account with ING where I just deposit the money, but truth be told, it's all to either pay for grad school and/or pay back my OSAP, which is quite hefty. So, I'll be poor for a long time. Link to comment Share on other sites More sharing options...
Tooly Posted November 23, 2005 Report Share Posted November 23, 2005 i dont really like the idea of internet banking Link to comment Share on other sites More sharing options...
Lazlo Posted November 23, 2005 Report Share Posted November 23, 2005 money? Link to comment Share on other sites More sharing options...
onthejourney Posted November 24, 2005 Report Share Posted November 24, 2005 Well, my dad is a finanical planner and I will try to pass on some good advice to you. If you want to make more money in a shorter amount of time then you need to put your money either in a stock or a more high-risk mutual fund. This has the benefit of the possiblity of making more money in a shorter time as said but with the high risk there is more fluctuation and more chance of bigger losses.But if you are younger and say want to make money for the more long term then you would invest in a low-risk mutual fund (RSP) which doesn't make money as fast but doesn't have as much risk of loss as the prior.Something I do to help save just at the bank is having 2 accounts. One account is spending money and I put less money into it. The other is for saving and my car insurance and emergency shit comes out of that but otherwise it grows quite well. Basically I don't touch it unless totally necessary. Right now I work 2 jobs, so the money from the lesser paying job goes into the spending and the other into the saving. But before I would go in, stand in line and get the teller to seperate my cheque into the different accounts.this really does work well, as long as you follow the rule of not touching the saving account unless necessary. Link to comment Share on other sites More sharing options...
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