13 Money Leaks: Fix These Today and Have More Cash For Tomorrow

Calgary Cash Flow Planning

 

Imagine flushing $5 bills down the toilet. You just would not do it. Yet, you do it everyday in other ways.

 

Just think of energy costs in your home without weather striping around the doors and windows. How old are your windows and doors? How much heat and A/C loss is escaping your home because of poor insulation in the attic. 

When it comes to our finances you can have a lot of money leaks as well. Here are 13 that come to mind:

 

1. Paying late fees on bills that you forgot to open. These payments can be automated.

2. Paying the whole month's interest on your credit card because you were a day late in paying the balance. 

3. Gas-guzzling vehicles. 

4. Buying lunch at work most of the week. 

5. Not eating leftovers or taking it to work.

6. Buying too much food because it was on sale and then disposing of it after its expiry date. All that food waste over the course of a year could be a romantic weekend away.

7. Shopping at Costco. 

8. Smoking.

9. Purchasing an extended warranty. It is rarely a good idea.

10. Eating out too much.

11. Buying new Vehicles. In 27 years of driving I have been towed twice and both times it was because of faulty repairs that were completed the previous week at a couple very recognizable national garages. New does not automatically translate into more reliable. 

12. Buying everything new rather than used. Check out Kijiji.ca or varagesale.com.

13. Allowing healthy, capable adult children to live in your house for free. (Side note: if you are the free loading kid still living with your parents, than you should be saving some serious cash - milk it for as long as you can).

 

We have yet to complete a Financial Review with a client where there wasn’t a few of these money leaks. Most of us have money for investing and money for enjoying life. It's just a matter of identifying what is most important to us so that we can stop wasting money on stuff that isn’t. This is what Cash Flow Planning helps you do and it results in acheiving dreams you never thought were possible so much sooner.

 

"Too many young couples forfiet reaching their goals because of poor choices and too many money leaks. The good news is that there is a better way. "

 

Let's Improve Your Cash Flow! We can help you create a Cash Flow Plan to find the money you need to fund the LIFESTYLE you want TODAY and FOREVER. Sign up below for a free financial assesment and let's see how we can put a plan in place to free up more cash flow and secure your financial future. We'll complete an assessment of your current situation, help you get clarity around your goals and put it all on 1 page for you. Book a time in our scheduler below. See you soon!


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