Brenda, A Busy Mom With Two Kids
Brenda is a busy mom with two kids and takes home $2,800/month working for the city of Toronto.
After the usual expenses of filling the car with gas, buying groceries, school supplies for her kids, transportation fares, meals and other domestic and family necessities, she averages 38 debit transactions a month.
Before signing on to the Invest the Rest Savings Plan, Brenda was determined to save but with all her daily demands, she wasn’t able to discipline herself to put money aside. Here’s how she finally did:
Chosen rounding increment per transaction: $5
Over the year she saved $160 to $185 each month.
At the end of the year Brenda saved $2,184.48
How Brenda allocated her savings:
Sometimes the things we really should be doing fall by the wayside, but not this year. Because of her Invest the Rest Savings Plan, Brenda was able to give herself peace of mind by contributing a little extra to her RRSP without having to take out a loan.
More details on the Invest the Rest Savings Plan
