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All your planning should be reviewed annually. Start with this year-end as your first review point and then annually at year-end, or on the anniversary of the start of your plan. Continue to review your progress and the effectiveness of the solutions you have chosen.
It is also important to review your plan when your goals change, or when you have a major life event such as a new child, new employment or a health crisis.
Don't think you can do it?
Here's some information to keep you motivated:
Sometimes it seems like changing your financial life and working toward success is impossible task. But change for the better can happen to anyone who has the commitment and perseverance.
If you feel you don't have the confidence it takes, then try this exercise: write out the reasons you think you can’t succeed. We’ve included some common reasons that often prevent people from taking that first step:
If you don't know where to begin
Try starting with one simple objective, such as saving for a long weekend holiday. Then create a simple savings plan using the Find the Money strategy. Do it for a month and see what kind of results you get. Remember, whatever savings plan you decide on, make sure you’re saving it automatically!
If you're an impulse buyer
Try applying the 48-Hour Rule: Don’t make any major purchases until you have waited 48 hours. It really works, if you give it a chance.
If you live too expensively
Ask yourself, "Am I spending my money on the things that bring me closer to my goals, represent my values, and are helping me live a richer and better life?" This question often helps you separate essential spending from non-essential spending, if you are objective and committed to saving money.
If you still don’t believe you can pay yourself anything
Because you are living from paycheque to paycheque, take a closer look at what you're spending every day. You'll find things you may be able to live without, especially things you buy with so-called 'pocket money'. Many people believe pocket money is there to be spent. Think about how you’re spending that money and how much of it you might be able to set aside in savings.
Other reasons?
Think about your excuses carefully. If you consider what you can achieve by taking small steps toward savings every month, isn’t it worth it trying to overcome those issues, regardless of what they are. The point is if you have an income, and you’re willing to get organized and make some small changes, you can succeed.
It's possible.
Many of our customers have illustrated how small changes can make a big difference. They've shared their successes with us, the good habits they've established, the boundaries they've set, and what they’ve been able to accomplish as a result. Read their Success Stories.
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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