Calculators
MORTGAGES
LOANS
TAX-FREE SAVINGS (TFSA)
RETIREMENT SAVINGS (RRSP)
RETIREMENT INCOME (RRIF)
EDUCATION SAVINGS (RESP)
FOREIGN EXCHANGE
Budgeting tips
Setting up and using a budget involves six basic steps:
- Establish your financial goals: immediate, intermediate, and long-term.
- Examine your current financial position. What is your household income and how much do you spend?
- Build a monthly budget for each month of the year, itemizing expenses in various categories and estimating how much you can reasonably expect to spend in each category.
- Relate your budget to your overall financial planning. How much money do you expect to have left over after expenses? How will this money be allocated? How long will it take you to reach each goal?
- Throughout each month, make regular entries of your actual expenditures in each expense category. At month- end, total the amounts and match these figures against your original estimates.
- Review and revise the budget to keep it useful and up to date.
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Important note: These calculators are made available to you as tools for independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy. All examples are hypothetical and are for illustrative purposes only. Please visit your branch to seek personalized advice from qualified professionals for all personal finance issues.
