4 comments on “What is your savings rate? Mine is………….crappy!

  1. 12% eh? Way more than my measly $50 a month in to my TFSA and what ever I throw in to a change jar* a friend gave me my last birthday.

    *At the very least I tend to stuff $5, $10, and $20’s in it. I think I even shoved in a couple $50’s.

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  2. Right now I’m only contributing to my TFSA though I did put some in RRSP’s in the past. It’s been three to four years since I’ve put anything in my RRSP. There are various reasons why but they are not important.

    Here’s how things look right now:

    TFSA: $ 451.13
    GIC: $ 1,078.11
    Mutual Fund: $ 4,566.17

    Total: $ 6,095.41

    By the numbers, I know it makes more financial sense to put my money in something other than the TFSA. Right now there are other things more pressing on my mind so for simplicity I’m stashing the money in the TFSA until I actually sit down and think of where to put it.

    My GIC matures at the end of October so that’ll be my absolute cutoff point to get things squared away. The mutual fund is the CIBC Managed Balanced Growth Portfolio. From what I’ve read there’s far better. I definitely will transfer these amounts to something with a higher rate of return over the longterm

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