https://padlet.com/nyamburagathetha22/ffgpx0095rgc By Eunice Kungu en-us 2018-06-13 02:58:20 UTC 2024-10-27 14:08:26 UTC hello@padlet.com https://padlet-uploads.storage.googleapis.com/296432516/65563ed5679df5db5155329d51969679/iStock585090668.jpg nyamburagathetha22 https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/266937893 I take this opportunity to welcome you to my padlet wall. I have included videos, websites, pictures and websites that will describe what savings are, the benefits of having savings, factors used to evaluate savings plan and many more]]> 2018-06-13 03:13:38 UTC https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/266937893 nyamburagathetha22 https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/266938890 This website has explained about a savings account which is an interest bearing account held at a financial institution. This means that you earn interest on the money you deposit. For instance, the more money you deposit in your savings account, the higher the interest you earn.  
What I found useful is that this account differs from other accounts because it is restricted to a certain number of withdrawals per month.

]]> 2018-06-13 03:29:35 UTC https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/266938890 nyamburagathetha22 https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/266941269 The reason why I chose this website is because it provides three great ideas that answer most people’s question; “What can I do to save more?” First of all, it is very important to pay yourself first with each paycheque. Most of the times we tend to rush to pay our bills when we get paid. A trick I have learnt is that setting the date for an automatic transfer between my chequing and savings account close to pay days makes saving easy.]]> 2018-06-13 04:00:37 UTC https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/266941269 nyamburagathetha22 https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/266942765 This website has outlined different types of savings account which include high-interest, tax-free, youth and seniors savings account. In addition there are other factors to consider when choosing the right savings account: rate of return, transaction fee, deposit insurance, monthly fee and extra special offers by the specific institution. it is important to consider different types of accounts and the features when coming up with a savings plan.

]]> 2018-06-13 04:14:31 UTC https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/266942765 nyamburagathetha22 https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/266944992 I chose this picture because I think it conveys an important message ’Start saving now’. It is a way to get prepared in case of emergencies 

]]> 2018-06-13 04:46:45 UTC https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/266944992 nyamburagathetha22 https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/266947715 This image has outlined five factors to consider when evaluating saving plans. I think that the most important factor is ensuring that your funds are safe.

]]> 2018-06-13 05:25:06 UTC https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/266947715 nyamburagathetha22 https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/266949005 The image describes top five reasons why people save money. What is surprising is that most people save money in order to pay debts

]]> 2018-06-13 05:47:10 UTC https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/266949005 nyamburagathetha22 https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/267499390 This video explains about the four different types of registered savings that will help one achieve specific desired goals. These types include: Registered Retirement Savings Plan, Tax Free Savings Account, Registered Education Savings Plan and Registered Disability Savings Plan. The plans reduce the taxes one is currently paying. From this video, I learnt that the Registered Education Savings Plan and Registered Disability Savings Plan earn government contributions however taxes are applied upon withdrawal.

]]> 2018-06-17 14:51:46 UTC https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/267499390 nyamburagathetha22 https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/267501985 This video talks about tips for saving money. Saving is affected by our mentality. Most people think that it is difficult to save when paying off bills and debts. However, we should treat savings as part of our bills in order to save successfully. Many of us think that the best way to start saving is after paying off debt. What I have found useful from this video, is that it’s important to consider paying off the debt and saving at the same time.  

]]> 2018-06-17 15:42:06 UTC https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/267501985 nyamburagathetha22 https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/267502144 This video talks about saving for the future. The first priority when saving for the future is your long term goal however Canadians are having a difficult time trying to figure out how to achieve the goal. The video has talked about RRSP which is essential for retirement as well as TFSA which would be very helpful for the young generation since it is tax free on deposit and withdrawals. I got a chance to listen to different ideas from the population and the challenges they are facing with savings.

]]> 2018-06-17 15:45:20 UTC https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/267502144 nyamburagathetha22 https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/267503732 Attached is the word document that answers the reflective discussion questions]]> 2018-06-17 16:14:49 UTC https://padlet.com/nyamburagathetha22/ffgpx0095rgc/wish/267503732