It’s been a little while since you guys heard from me, so I thought I would share a new endeavor Sameer and I have taken on to assist us in getting more stamps in our passports: SAVING!!! Yeah that’s me, Mrs. Penny Pincher… NOT!
It all started when EQ Bank got in touch to share some information about its new GIC offering. Intrigued and ready to flex my financial prowess, I approached Sameer to discuss our financial future… He paused and very politely asked me to repeat myself LOL. He couldn’t believe I was the one asking about saving. Sameer was over the moon. I guess I’m growing up… finally!
Though it can be challenging, saving becomes much easier once you have an end-goal in mind. And, with investment products designed to help us save (literally) at our fingertips, achieving our dreams has become much easier.
We learned from a recent poll commissioned by EQ Bank that we’re not alone in our savings goals. In fact, 64 per cent of Canadians want to save $10K in the next five years.
Though this is a lofty goal, by simply adjusting your routine, saving can become a breeze.
To jumpstart our saving, Sameer and I have taken on a challenge, nothing huge or over-the-top, but a challenge none the less. We plan on going a whole month without take-out/delivery. WHAT?!?! Yeah, you heard right! A whole month without take-out food. What are we going to do? Probably starve… ☹
WHY WOULD YOU DO SUCH A THING?
Well, we recently partnered with EQ Bank because we love their approach to banking They offer awesome rates and, it’s online model makes it quick and easy to purchase investment products.
To take advantage of EQ Bank’s high-interest rates and help us save, we have opened one of its new GIC. You only need a minimum of $100 to get started, and it can help you along your way to financial freedom.
Our goal is to put the money we save from cooking at home into a GIC that offers guaranteed growth, with some of the highest rates on the market.
In fact, EQ Bank offers a guaranteed return from 2.76 per cent* (on a 1-year term) to 3.50 per cent* (on a 5-year term) regardless of how the market behaves.
So ladies and gents, I encourage you to join in the pledge to give up something small in your life, and open up an EQ Bank GIC! It’s never to late to start saving!
* For GIC terms of less than one-year, simple interest is calculated on a per diem basis and paid at maturity. For GIC terms equal to one year, simply interest is calculated on a per annum basis and paid at maturity. For GIC terms of over one year, not including 15 and 27-month terms, interest is calculated on a per annum basis and, depending on the selection made at the time of purchase, paid either annually (simple interest) or at maturity (compounded annually). For GIC terms of 15 and 27 months, interest is calculated on a per annum basis, compounded annually and paid solely at maturity. In all cases, interest is accrued for the entire GIC term.
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