When the new year rolls in, I think a lot us spend time thinking about how we want the next 12 months to look and feel. What sort of things we want to accomplish, plan for any big purchases or events and start thinking ahead to our future. I know my husband and I sit down each January…usually in the first week…and have a discussion, jotting down notes and chatting about ideas. It starts as a “where are we at?” and quickly moves into a “where do we want to be?” The answer is usually related to saving and our budget.

Our budget is really the plan we put in place to spend our money. To make sure we have enough money for our needs and the things that are important to us. It’s SO easy to just go month and month and keep paying the bills and never really look at where your money…which you have worked hard for…is going. Part of our January process involves us taking a good look at our budget and see if there are any areas we could prioritize or cut back on. If you’ve never done a budgeting process, I highly recommend it. It feels good!

Another important part of the budgeting discussion then also relates to saving. Once you have your budget set in place, then its time to decide if and where you want to direct your savings. I stopped into the Lahave River Credit Union and had a chat with Tim Eisner, their Commercial Accounts Officer about different saving options such as an RRSP (Registered Retirement Savings Plan) or a TFSA (Tax-Free Savings Account)

You can watch our Facebook Live chat to hear Tim explain the different options to consider and what they each mean…

An RRSP and TFSA’s are both registered products that require you to book an appointment at a financial institution, like the Lahave River Credit Union, where they will sit down with you and discuss your savings goals. If it’s putting money away for retirement or saving for a down payment on a home, there are options that their advisors can go over with you and help you determine what works best for your needs.

What I like about the Lahave River Credit Union is how comfortable I feel when I am there. Everyone calls you by name and you really feel like they know you. Talking about finances can feel intimidating and you might think you need to be earning a certain income level to even talk about savings products…which is just not the case! Anyone can begin now…even just a small amount each month…and start investing in your future.

After chatting with Tim, I came home and suggested to my husband, that we continue our January budget exercise, this time looking at different saving options and how they could work for us. We tend to go on auto-pilot with the “what we’ve always done” philosophy. In 3 years all our kids will be finished high school. We’re already talking about our future as empty-nesters and even a little further to retirement…which makes this a perfect time to set up an appointment with a financial advisor at the Credit Union and look at what makes the most sense for us.

If you are already a member, just call and ask to make an appointment with their financial advisor. Not a member? You can fill out an easy online form to begin the process and discover the benefits of being more than a customer…but an owner…who knows that their money is staying local and having an impact on their communities. If you’re starting a small business or looking to receive financial products and services and at the same time contribute to the community, the Lahave River Credit Union is here to help.

*This post has been sponsored by the Lahave River Credit Union. We only partner with brands and businesses who we feel bring value to our readers.