The first step in the creation of a realistic plan is knowing where you are currently spending your money. It’s important that you spend on the things you value most. You can save a lot of money by evaluating your spending in this way.

Financial planning tools, like our Money Finder™ Calculator, can help you chart your spending so you know where your money is going. Then you will know how much you have left over for savings or for other financial needs.

If you're having trouble finding the extra money you need, try this simple tip:

To start, track your expenses for a few days or a week to get a better idea of where your money goes. Then ask yourself if you really need to spend that much on coffee, bottled water, magazines, chocolate bars, parking, and the like.

Our Find the Money Challenge Worksheet [PDF: 353 KB] can also help you track the money that you can save from daily or weekly spending routines that you can comfortably eliminate and never miss, like expensive coffees, extra newspapers, dinners out, and so on.

Everyone has some. You’ll soon find your savings adding up, and you'll hardly notice the small sacrifices you may have made.

Here's how to put your financial information to work:

• Come into your nearest Scotiabank branch and talk to an advisor about tailoring a plan that's right for you.
• OR call 1-800-4SCOTIA (1-800-472-6842)

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