Don’t you just love it when you find a buck or two in your car under the seat, or somewhere down in the far reaches of your gigantic purse (or pockets, for the guys!); it’s always a magical experience to come across that money. Sure, it was once yours but because you forgot about it, it’s like new money all over again. What could be more fun? Your mind races at the things you could use that loonie or toonie for – maybe an iced cappuccino from Tim Horton’s, or a pack of gum, or quite possibly it’s the last dollar that will get your car out of the parking lot you’re currently stuck in.
Two weeks ago, I logged into
ING Tangerine as usual and checked all my accounts, making sure all was well and transfers went as planned. On rare occasions with some financial institutions, I’ve been surprised with uncompleted transactions that may or may not have been my fault. As I stared somewhat unconsciously at the numbers, I realized that I had $576 sitting in an RSP Investment Savings account doing, well, nothing really. As any Canadian would argue, 1.35% interest is pretty dismal but we’re used to it now. I thought to myself, why do I have that money just sitting there, essentially doing nothing, why don’t I have it working for me? Every dollar should be working for me in some way. It’s not as if I needed this money for a vacation, the car or my emergency fund…its retirement money that should be growing!
What would any somewhat logical, mostly financially minded woman do? I made it work for me. No, I did not go shopping….remember I said RSP here. I invested it! Spontaneously, I said to myself, screw it; I am putting that money in a Tangerine Investment Fund with the highest growth potential. And just like that, it was done. $500 of the $576 was moved into the Tangerine Equity Growth Portfolio and I am now $8.77 cents richer than I was two weeks ago.
See, Spenderella’s learning 😉 Once upon a time, there was a very happy woman who decided to ensure that all her money was working for her, she checked once, then twice, waved a wand, said a few bibbity bankity boos and like that every dime and last penny was working better for her than ever before.
Have you ever “forgotten” about money and let it sit doing nothing, earning dismal interest?
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