Though a recent survey suggests 55 per cent of Canadians save on a regular basis that still leaves a lot of people who aren’t preparing for tough times ahead. (Please click here to read Part 1)
(Will there be tough times ahead? That’s like asking if it’s been a hot summer so far. So, has it been a hot summer so far? Yes. The hottest on record up to the end of June.)
[Ann says: "When the urge to shop hits you, sit down with a book - your bank book!"]
At first, the newspaper article caught me by surprise. A bank is encouraging savings! What next?
A 900 sq. ft. house? An enclosed scooter with snow tires that gets 100 mpg? (My gosh, I sure hope so!)
Scotiabank has recruited TV personality Valerie Pringle to act as a “savings ambassador.”
I read “she will travel across the country to speak to Canadians about the challenges they face when trying to save money.”
What comments will Valerie hear from Canadians?
Something like the following?
“My mortgage is too big related to my income. Do I need four bathrooms?”
“A lot of expenses are going north by my salary isn’t.”
“My car payment is too big related to my income. I’m such a maroon. I shoulda bought a smaller car.”
“I go shopping - for stuff - too often. (You know it's Gord talking, don't you?) I need to be more frugal.”
“Using my credit and debit cards is so easy, eh. I kinda over-spend on a monthly basis. I need to pay off my big-screen TV, then I’ll start saving. I think. I do like the new iPod.”
I know Valerie has a great smile and is a good listener, but what will she say to people?
Stay tuned.
***
For the first time in years I recently used my Mastercard to pay for something (hostels rooms during my trip to Halifax).
What percentage in interest will I pay if I don’t clear the bill right off?
Where’s my wallet?
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