Sunday, January 24, 2010

More books! I'm on a reading mission lately!

I have been filling my head with knowledge in the financial world.  Some things have been purely secular based, others faith based ~ and guess what?  Sometimes they say the same thing!  The one thing they ALL say ~
Take 10-20% of your income and SAVE it!  Storehouse principle, etc.  Save it for retirement, save it for a raining day fund. 

The 2 latest books I am devouring...

Just noticed my bookmark in Thrifty is a coupon page!  haha

I have been trying to figure out TFSAccounts and then came upon this book in the local library.  It is a very good thing.  It is great for one income families, because everyone over 18 years can open one and contribute their $5000/year.  It is made with your "after tax" money, but any interest you can generate from a savings account, mutual funds, stocks, etc is completely UN TAXED when you pull it out.  The book is easy to read, and shows examples of different aged couples, contributing different amounts and when they reach the $1 million amount.  Very eye opening.  So, we will definately be using a TFSA for our savings as you can withdraw money for something you are saving for, and then put that same amount back too.  Great way to save for a vehicle, vacation, house or retirement.  In the long run, I personally wonder when the gov't may change some of the rules, as they will be losing some income from us!  ha ha

THRIFTY is a fun read.  Basic thus far, stories from some prominent people in our culture and their upbringing and how they are frugal or thrifty.  So far, it's about using 2nd hand (recycling), reducing waste, etc and still having little pleasures to enjoy.  Most say they don't skimp on the quality of their food, most eat organic as much as possible, but just buy what they eat, etc.  Using vegetables that are looking a little wrinkly as a good stock broth, etc.  Cooking only what you can eat, or immediately freezing an extra portion and MEAL PLANNING.  This is something I have been working on...looking in my freezer, cupboard and planning a weeks worth of meals.  For my small family, I don't necessarily feel I need to do more than that at a time.  Of course, I keep ideas in my head, but don't write down further than 1 week.  The girls have been helpful with this and are growing up their taste buds some and enjoying different foods now ~ what a blessing.

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