https://padlet.com/gbonke_13/7j66azlcqp30s6o6 Grace Bonke en-us 2021-03-28 18:33:04 UTC 2025-12-07 12:33:29 UTC hello@padlet.com https://padlet.net/icons/png/1f4b5.png gbonke_13 https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1361815055 Welcome to my padlet where you will be learning more information on the topic of savings. Here I will be covering various saving plans and what works or maybe doesn't work. Everyone learns and saves differently and hopefully my wall can give you some insight on new ways to save. Saving money can be done in several different ways and I hope to touch on many ways as best as possible. ]]> 2021-03-28 18:40:00 UTC https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1361815055 gbonke_13 https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1361824388 This was the very first video I watched when starting my research and was blown away with the information. What Brian was saying was very true. Many people are impulse purchasers and sometimes waste their money on things that are not needed, the buyer gives very little thought to the purchase. It's like a shiny penny situation. They see something and are completely distracted by it and need it right away. Brian also said that in your life time you can become a self-made millionaire if you start putting a percentage of your pay away. Even if you are a minimum wage worker. That is crazy! Instead of buying another pair of jeans or whatever it may be that you don't truly need, put that $50 away into a mutual funds account. This way you are starting your journey to becoming a self-made millionaire, but also not impulsively buying items that are not needed. The path to saving money has to start somewhere and this could be it.  ]]> 2021-03-28 18:45:54 UTC https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1361824388 gbonke_13 https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1361825778 This is a very simple, straight forward photo I am using. However, the reason I picked this photo was because I don't think everyone realizes how easy it is to start a savings account. It is five simple steps. The "hardest" part would be to compare banks and find one that fits all of your needs and even that is easy! Following these steps could put you on a great learning and saving journey for the future. ]]> 2021-03-28 18:46:47 UTC https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1361825778 gbonke_13 https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1361874705 In my opinion I strongly believe that a bank is the absolute best way to save money and gain interest on it. With that being said, if it a piggy bank you cannot open from the bottom and you are disciplined and want to save for certain things like a trip or a new piece of furniture, I think a piggy bank is a good way to go. Purchases like that are for goals that you have in the near future and I do not see anything wrong with saving this way for items like that. ]]> 2021-03-28 19:15:52 UTC https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1361874705 gbonke_13 https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1361884756 I found this video to be informative. The first thing the "Betterment Boss" recommends is to avoid social medias. At first, I was confused, but he then goes in to explain how it affects us. We see advertisements for items we like all the time and it sometimes forces us to look at them and end up making a purchase. Another tip I liked was to spend money in cash. I understand right now with the circumstances we are in, many people are avoiding it. But he makes a valid point by saying that when we can physically see the money decreasing, we don't like that, whereas if it was through debit or credit, we can keep taping our card until it declines. I think that is a good way to look at it and something that a lot of people may not even think about. There are many little tricks that can help us save, we just have to be smart about it!]]> 2021-03-28 19:22:42 UTC https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1361884756 gbonke_13 https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1362025838 I chose this first website because it was very detailed and informative. It explains some advantages of savings and even disadvantages, so readers are able to compare. It also mentioned that some saving accounts require a minimum starting balance to avoid monthly fees and earn the highest published rate. I felt this was very informative because I didn't know that and it may be something others don't know. Some people may just want to open an account and think they will start putting into it whenever they can, but I think minimum can help dedicate someone to saving. ]]> 2021-03-28 20:59:57 UTC https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1362025838 gbonke_13 https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1362025944 I really liked this website. It touches a little bit on everything. Ways to save money, how to do it, pay yourself first, TFSA, high interest savings accounts and so many more. I was really interested in the pay yourself first topic. Personally, I have never heard of this term prior to this class and now that I have been able to read and learn more about it, it is so incredibly beneficial. I know bills are an important part of life and will always be a part of it, but I do think it is crucial to always designate a set amount to yourself. This website says it can be 10% of a paycheque, $25, $100, whatever you may choose, but honestly, even if it is $10, that is a start. ]]> 2021-03-28 21:00:03 UTC https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1362025944 gbonke_13 https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1362026012 When I picked the topic of savings, I felt as if I had a pretty good understanding on ways to save money and increase the numbers I see in my account. After seeing this website I just realized how many more small ways there are to save you money. This article lists 31 types of saving methods. Some similar, but regardless, it is the small things that some people never think of that can help. One that everyone I think knows, but may not use would be number 23 on the list being discount coupons. Everyone knows coupons help save money and provide good deals, but I also think some people just don't care enough to go out of their way to find and use them. I think if people who never used them began and compared their spending to before, a difference would be noticed. An easy way to find discounts and sale prices is through the "Flipp" app which is also talked about at number 8. This article has small tips that I find very useful and some even underrated. ]]> 2021-03-28 21:00:06 UTC https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1362026012 gbonke_13 https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1362026111 This website is another list based article, but with new points and good ones. At the very beginning it states that saving money shouldn't be as hard as we think, we just need to be frugal and that doesn't mean not having a life, it means to be aware of your spendings. In the list of things we can do to save money, I really liked that it mentioned packing a lunch. It is so nice and easy to go through a drive through on your break, but it is a huge factor in spending money. If you still like to eat out, make a plan. You work Monday-Friday so pack a lunch 4/5 days and treat yourself the other. It is all about balance. It also talks about making your coffee at home. We all love Starbucks, but if we are getting a $5 drink 5 days a week, that is $25 a week and $1300 a year. That is a huge cost! I think when breaking it down like this it is a lot more eye opening. ]]> 2021-03-28 21:00:11 UTC https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1362026111 gbonke_13 https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1362026293 This video was very informative and what I liked was that their were mini interviews with outside people on the streets. When thinking about saving, it is important to think about retirement and that part of your life. When the interviewer asked the opinions of people, most of them stated how they don't think they will have help from the government and they need to start saving now to help themselves. He also asked what people are doing to save and one older gentlemen mentioned his mortgage being paid off. I do believe that is a huge cost that makes hard for people to save and once that is no longer a worry it helps. It was also mentioned in this article different ways to save. That being TFSA's, RRSP's, savings accounts and more. Retirement is a huge part of the future and beginning to save for at a young age is very crucial in my opinion. ]]> 2021-03-28 21:00:20 UTC https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1362026293 gbonke_13 https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1362026380 At the very beginning of this video I chuckled a bit. It said "If only I can stop spending money on stuff I don't need! I would buy so many useful things. Have you ever thought this?" And yes! All the time! I know I am this way and personally I know several others who do this so it can't just be us. This video had several good saving points, but one that really stood out to me and that I have never even heard of was the "Zero out" method. This means every night whatever you have in cash and in your bank subtract whatever it is to make the last digit or digits a zero. For example, say you have $1817 in your bank account, subtract $7 to make it $1810. If you want, you can also take it a step further by subtracting $17 to make it $1800. What ever money is subtracted, move it to a savings account. This tip was the first one listed in the video, but super cool to me and something I had never heard of before. ]]> 2021-03-28 21:00:24 UTC https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1362026380 gbonke_13 https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1362063603 2021-03-28 21:30:08 UTC https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1362063603 gbonke_13 https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1366065424 I wanted to add on to the reflection and state that some saving methods may not be for you and that is ok, you just have to find what works best for you. Every person has different preferences and things to work for them as an individual. I do think it is important to start saving at a young age because money will be needed and a part of our lives forever. Just remember to figure out what works best for you and start somewhere!]]> 2021-03-29 23:35:12 UTC https://padlet.com/gbonke_13/7j66azlcqp30s6o6/wish/1366065424