Make Every Investment Dollar Count

ATB Prosper empowers Albertans to begin their wealth-building journey.

It’s 2020. A new decade to check off bucket list items and conquer goals. But those goals cost money and your wage hasn’t increased. So how do you pay your current bills as well as invest in your future?

Budgeting truly is the way to go, but even the word “budget” makes people cringe because it feels so strict, like punishment rather than what it is: taking note of your financial habits to effectively plan for and achieve long-term goals.

You know all about New Year’s resolutions. They are great at first but near the end of January, sugar finds its way back into your diet, you don’t have as much time for the gym anymore, and you somehow end up buying coffee from a café on the way to work each morning rather than making it at home.

Good habits are hard to make just as bad ones are hard to break. It doesn’t matter how much they impact our fitness, time management, or finances. Experts say it takes three weeks to make or break a habit, but if the solution is too complicated, why on earth would we try it for three weeks, never mind forever?

 

ATB Financial has demystified how to create a budget to help you re-focus on intentional spending, so 2020 becomes the year to begin YOUR wealth-building journey.

Just think about this past week, did you eat out for dinner at least once or twice? Is that something you do most weeks? What would all those meals out (an expense) add up to at the end of the month? Is that total surprising? How does that expense compare to your total monthly income (the money you are bringing in)?

And unfortunately, eating out is not the only expense (money going out) we need to consider when creating a budget. There are three categories of spending—needs, wants and savings—to consider.

Needs tend to take up most of your monthly income. They are considered necessities like rent or a mortgage, utilities, taxes, groceries and transportation.

Wants can differ each month as they depend on your personal choices and priorities. These include items like dining out, shopping or entertainment.

Savings fall under spending when you get to the point (which you will if you haven’t already) of dedicating a portion of your salary per month towards your financial goals such as future purchases (a car), life events (a wedding), a rainy day or retirement.

To get started on your budget and to apply all these newfound terms, we suggest using the ATB Budget Worksheet to simplify the process. The worksheet is also great because it gives you a visual reference to see where you’re really allocating your funds to, and if that spending routine aligns with your long-term financial goals.

NOTE: the more realistic and honest you are when listing items on the worksheet, the better prepared you will be to save and grow your money.

Whether you want to save for retirement, a child’s education, a major purchase, or create a rainy-day fund, seeing your savings grow even faster than expected is exciting to everyone.

Intrigued to grow your money faster? Investing with ATB is how you do it.

It doesn’t matter if you’re an investment beginner or seasoned pro, with as little as $100, you can open an ATB Prosper account online and begin saving.

ATB Financial’s easy-to-use digital investment experience, ATB Prosper, simplifies investing and offers support from real, live investment advisors so you can spend more time brunching, gaming or loving your cat than thinking about investing. ATB Prosper’s quick online assessment has seven questions to guide you towards the best-suited investment plan for your financial goals and aspirations.

There is no such thing as ‘one size fits all’ for financial wellness. Therefore, your assessment answers—based on your goals, your timeline, your tolerance for risk, and your current financial situation—generate a recommended investment portfolio. And, if you have any questions before committing, ATB can help through its Wealth Advice Centre.

Once your savings begin, watch the investment activity on ATB Proper’s personalized dashboard and feel free to connect live with financial advisors if any questions arise.

With low management fees and no annual administration fee, ATB Prosper helps you develop a more realistic understanding of the options you have, so you can effectively designate more money towards your mid-to-long term goals.

It’s the simplest way to invest – giving you peace of mind while ATB Prosper grows your money.

        


ATB Wealth consists of a range of financial services provided by ATB Financial and certain of its subsidiaries. ATB Investment Management Inc., ATB Securities Inc., and ATB Insurance Advisors Inc. are individually licensed users of the registered trade name ATB Wealth. ATB Securities Inc. is a member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. ATB Prosper is a product of ATB Securities Inc.

This content was produced for the advertiser by RedPoint Media for commercial purposes. It is not written by and does not necessarily reflect the views of Avenue staff.

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