Monday, February 27, 2017

Hey Millennials, Are You Saving For Your Future?



I recently came across a funny post on my Facebook feed, (since it's tax season) and had to share it with you guys. It said:

“I’m glad I learned about parallelograms instead of how to do taxes. It’s really come in handy this parallelogram season.”

LOL, right?

This got me thinking about the crap we learn in high school. Don’t get me wrong, I’m not saying education is a waste of time or anything. In fact, I’ve always been a firm believer in education. I personally, LOVED school.

However, parallelograms? Pythagorean Theorems? Really? I mean, can we update the education curriculum, PLZ? For the sake of our children's future! How many of us are actually applying the Pythagorean Theory to our daily work lives? Can I get a 'hell no!'?

Once I left high school, and started University is when I realized a lot of the stuff we were forced to learn in HS isn’t helping us in real life. I mean, where are the courses on learning how to do your taxes? Or financially investing for retirement? Or learning about mortgages? Like, WTF is the difference between RRSPs, RESPs, and RPPs?! I signed about 849728906 papers when I recently bought my condo, and let's be real here, I have NO IDEA wtf I was signing half the time. I could've been signing my life away for all I know...

Am I right? Or are we completely disagreeing with me here?



As millennials, I’m learning that A LOT of us want to work for ourselves. We’re striving to become successful entrepreneurs. This means, we’re investing a shit ton of money into our businesses and hoping there’s an enormous return in the future. We’re hoping that we don’t have to work until the tender age of 65, and can retire young enough to actually explore the world, spend the quality time with our families, etc.

But, do we know how to do this in a smart, intelligent way?

Being a blogger, I’m always reading articles on this. I’m constantly striving to make my business something amazing, and something I can be proud of in the future.

The goal is to also make money. OBVS.

So, when Meridian Credit Union approached me to visit their new Entrepreneur Centre to talk about how to be financially successful as a business owner, I was ALL IN. I mean, THIS is the stuff the high school curriculum needs to get on board with. No?

I don't want to be living paycheck to paycheck all my life. I want to be in a comfortable situation in life, where if something were to happen, I'm not...stranded? I want to have enough to invest in my business, to be able to buy a home and not struggle with payments, and I want to be able to afford that Louis Vuitton I've been eyeing. Who's with me?

Saving for your future STARTS NOW.



When I met with Joanna from Meridian, she was so helpful with budgeting. We talked about my income, and then broke down all my expenses to see how much I'm actually saving. She explained how you should be doing this about 2-3 times a year. Your expenses are always fluctuating, so doing this every once in a while is very important. When you actually have the costs broken down in front of you, you can actually see where you should be cutting back.

Even the smallest costs, add up. (Like coffees)

I'm not saying you shouldn't spend your money on a coffee every morning. I'm just saying, if that's something that's important to you, be aware, and maybe cut down costs on something else?

For me personally, I would rather sleep an extra five minutes in the morning, than make a coffee. I'm comfortable buying a coffee every morning. However, with that in mind, I will choose how many times a week I'm eating out. Get it?



The best part is, you don't have to figure out all this on your own. Meridian was able to talk to me about so much. Basically everything that I mentioned above, (that I wish I was taught in high school) was explained to me by Joanna from Meridian.

Especially mortgages. Many of us are struggling to even get approved for a mortgage. What I love about Meridian is that, instead of looking at you as a number, they look at you as a person. So, what I mean by that is, a bank looks as your statements, and paychecks etc. whereas at Meridian, they also listen to your story. We all have loans to pay off, credit card debts, etc. Sometimes, bank statements aren't enough to get you approved for a mortgage. Sometimes, you need to actually explain the situation you're in. This doesn't mean you can't afford to pay a mortgage. This is what I love about Meridian. Banks can be a little black or white, if  you know what I mean. The benefit of Meridian or Credit Unions, in general, is that they take those grey areas of your life into consideration when approving your mortgages, loans, etc.


Couple facts about Meridian Credit Union:

  • Whether you're looking to manage your personal or business life, or both, Meridian has all the products and services you need – from chequing and saving accounts to registered savings plans and mortgages.
  • They are the 4th largest Credit Union in Canada and have been around for over 70 years.
  • They are non-for-profit and support community events. They invest a minimum of 4% of pre-tax earnings in initiatives that benefit Ontario’s communities.


So, if you're worried about your future, or drowning in some debt, or have no idea about saving for retirement, ask for help! Meridian was SO helpful, and I left feeling really good about my future. There's nothing worse than feeling alone when it comes to debt or saving for your future.

How many of you are budgeting? Saving for retirement? Weigh in! I'd love to know what your thoughts are on this.

Also, if you guys have any questions about my experience with Meridian, feel free to reach out.

Chat soon--

Xx, kim



This post was in collaboration with Meridian Credit Union. As always, all opinions are my own.




6 comments:

shopperdivaS said...

That is hilarious parallelogram season. Hahaha. That is pretty awesome that you got to do that

Kimberley Marquis said...

ShopperDivaS, I found that hilarious too! Thank you, I recommend everyone to do something like this! It's so helpful for the future :)

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rolekkyle said...

Great article
Kyle Rolek CFP®

Kimberley Marquis said...

Thanks for your comment, Rolekkyle!

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