Page 12 - EQ Mag-2019
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           EXAMPLE FORCED SAVINGS                                                           BILLS & UTILITIES

           PLAN                                                                                  ACCOUNT


    Consolidate Debt & Eliminate Interest Costs

    Interest fees can eat away at your balance without you
    even realizing. Loans and credit cards incur monthly
    fees, so your payments may only be covering the
    charges and interest, without making a big dent in your
    balance. Your priority should be to pay these debts off

    Seek advice from a financial expert to see whether you
    can roll your debts into one loan. This will consolidate
    the repayments and reduce interest and charges.

    Overpay Monthly Bills To Give You A Head Start

    Have you ever thought of paying a little extra to each
    utility or mobile bill every time they fall due? This idea
    of forced savings is clever and do-able.
    Consider overpaying your bills by a few dollars each
    month, and before you know it you will have                 approach can bring real rewards. Start putting your
    accumulated a surplus.                                      loose change into a jar or tin at the end of each day.
                                                                Five cents will become five dollars before you know it.
    This may mean that eventually, you’ll have a month          Make some of these simple changes to your financial
    where the bill does not need to be paid at all, freeing     routine and your forced savings plan is off and running.                                    
    up dollars from that month’s pay for other purposes.        Remember to take it slow and tinker with the ideas
                                                                until you have a system in place that works for you. If in                                                                           B O O K T R A V E L . C O M
    Loose Change Turns Into Dollar Amounts                      doubt, chat with a financial advisor who can give you
                                                                many more bright ideas for taking control of your
    It sounds a little old-fashioned, but a basic piggy bank’   money.

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