How to Save

Achieve Your Goals

Sometimes thinking about saving money is harder than actually doing it. If you’ve got a savings plan to help you focus, you’re well on your way.

However, if you’re still asking yourself, “Where’s it going to come from?”, here are three tried-and-true methods to help you save.

Remember The Golden Rule – Pay Yourself First:

Get in the habit of setting aside some money from your paycheque to achieve your short-term goals. Hint: It’s easier if you think of it as something you have to do, like setting aside money for your mortgage or rent.

Hint: Our Save-matic Program automatically transfers money from your main RBC^® banking account to your savings account. You simply choose the amount you want to save, and how often you want to transfer. It’s a terrific way to make saving a habit.

Curb Your Impulses:

Just because something is “on sale” doesn’t mean you should buy it. Focus on your goals and resist the urge! Also, be aware of when you’re vulnerable – ignore the impulse to buy things to treat yourself when your work or personal life is stressful.

Focus On The Expenses That You Control:

Unlike your mortgage or rent, you have control over your variable expenses – lunches, coffee, clothing, music, entertainment, etc. This is the first place to look when you want to save money. Keep track of what you spend in a month to see where your money is going. You may be surprised!