Start early

Where do you find $25 a week when you're 20 and have lots of expenses?

Marie-Christine Daignault | Desjardins Group

We all know that the sooner you start saving, the better. Time works its magic, and given the choice between investing $25 a week starting at age 20 and finding $25,000 to invest at age 40, the answer is obvious.

BUT--and there's always a but--where do you find $25 a week when you're 20 and have lots of expenses?

Young people pay an average of $142 a month for their telecommunications. There's room right there for savings.

Your challenge: reduce your telecommunications costs

Step 1: Calculate all of your telecommunications costs: TV, Internet, landline and cellphone.

Step 2: Compare plans and find the one that matches your actual usage.

Step 3: Negotiate!

Step 4: Calculate monthly savings and plan an automatic transfer of this amount into the "My XYZ dream: from me to me" savings goal.

Step 5: Save without even realizing it.

The 5 stages of fierce negotiation
1. Find out the plans and prices of your provider and the competition. There are lots of online tools to compare plans in Canada.
2. Combine service; 1 bill = more savings.
3. Highlight what a great client you are (only if you're a long-standing client and always pay on time!)
4. Express your dissatisfaction: ask to speak to a manager if needed.
5. Threaten to change providers (only if you're convinced you've gotten poor service).

We give you this challenge to encourage you to develop new micro-habits. Without even realizing it, you can save a lot of money--and often faster than you think!

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