My Money, My Story

This article originally appeared on cbc.ca. To read the full story, click here

When it comes to money, I’m not going to lie – I haven’t always been the most frugal or financially conscious. I certainly don’t splurge on the daily, but I do get swayed by an enticing promotional e-mail or a fancy latte from time to time.

I didn’t really have a good sense of what to do with my money or how to make it grow. I did what my parents always told me to; save the majority of my paycheque in a savings account and never buy something I couldn’t afford to buy.  I would buy lunches, tops and accessories a couple times a week and coffee almost every day, thinking I was being financially savvy by “not making big purchases.” However, I neglected to realize what my spending habits were doing. I was spending regularly on non-necessities that didn’t add a ton of value to my life. My bank account was depleting and I had nothing to show for it but some coffee shop rewards points and a caffeine dependency. Paired with my frequent visits to cafes and salad bars, my savings account was stagnant. While it’s definitely good to squirrel away money and save more than you spend, my savings weren’t really doing anything for me.

While many of my friends had money to move out, rent a nice place without having to eat instant noodles every night, or, even buy their first homes, my bank balance hardly had enough in it to pay off my credit cards. I didn’t feel like I was living the life I was on Instagram. I felt like a loser, who seriously needed to get her paycheques in check. I needed to make the first move towards a better and brighter future. One where I could have my own place, and create a lifestyle I could not only afford, but sustain. After I chatted with an RBC InvestEase® advisor, I got more and more inspired to take a deeper dive into my money, and set myself up for a positive financial future.

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This article originally appeared on cbc.ca. To read the full story, click here