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i 3 febetnbebrbnteboborbrbebebebebodtebotrbebebodbbrbebcbebebrbrbobdntebody SHELL LLLLLLLLLLELLLLLLLLLLLLLLLLLLLLLLLILIIIELLLLIILIILILLLLELILL84888888488848 oan? amr 1 Pe NING tt a Yara ar 4 \s/ 20% essa Nes! Bis! Brad Bss\ \y . Y * ss{ Bs | ss! o Bslsss) A $ B\ 2 Bes ss] ls) sss] BABY issse B $ ad MJ Eqead fsa' Gash fess) €or Beggs $ PUTER 2 STWR ¢ co UWL 0 ¢ « $0 « UUUUNUNNE 4 4 ¢ UTP hd PURE o SONS NN ANN A NNN NAN $$83888888888888888888888888888888. This article courtesy Standard Trust - Port Perry Branch ~~ FINDING THE CASH FOR YOUR RRSP CONTRIBUTION The lament | hear most often in January and February is 'Where can | find the cash for my RRSP this year?" Rather than commiserating, | generally counter with a few questions of my own. After chatting for a few minutes, we almost always manage to dig up a few extra dollars, and sometimes more than a few. Let's run through a typical situation with you as my customer. The first place | look for funds is the household budget. And the first question | ask is what would happen if $10 were automatically deducted from your savings or chequing account each week and deposited to an RRSP? After a bit of humming and hawing, most customers admit it pro- bably wouldn't be noticed. They almost always have extra cash on deposit. But that's $520 a year ($10 times 52 weeks) and it's a great way to put some muscle into your RRSP savings program. Then | ask if there is any way you can cut down on your spending? Is there anything you can do without? Again, with a little bit of prodding, almost everybody comes up with something. Maybe it's a new piece of fur- niture or a few evenings out at a restaurant. | have even had a few give up smoking. More often than not, this frees up another $400 or $500, sometimes more. Now The Easy Part These first two questions are the painful ones. The others are usually more to everyone's liking. Next | focus on savings outside your RRSP. Have you been buying Canada Savings Bonds (CSBs) on the payroll savings plan? Do you have a small emergency fund around? Maybe you have a GIC or a term deposit. And what about the money in your savings account? Many accounts never drop below a few thousand dollars, even though they may be earning in- terest at only 4 percent or 5 percent. Most of my customers haven't thought about selling their GICs or CSBs and using the cash for an RRSP. But after discussing the tax advantages of an RRSP and explaining that they can cash in certain types of RRSPs practically on a moment's notice, we usually find at least another $500, sometimes a lot more. If this kind of flexibility doesn't convince you to switch your GIC or CSB funds into an RRSP, then showing how much tax you'll pay on your CSB and GIC interest should do the trick. After all, why not earn that interest tax-free inside an RRSP? Don't forget that, beginning in 1988, you can no longer earn up to $1,000 of Canadian interest free of tax outside your RRSP. Finally, | ask about windfalls -- maybe an inheritance or the odd lottery win (even if it is only $5 or $10). Or perhaps an insurance refund or even your tax refund. Think back on the "found money" that just dropped into your lap over the past year: money that you didn't expect to receive. Maybe it's only a $100, but maybe it's a $1,000 or ever more. Regular Saving is Best Although this exercise sometimes produces up to several thousand dollars, the best, and least painful, way to make RRSP contributions is to budget for them. In fact, you might want to treat your RRSP like the elec- tricity or telephone bill - you have no choice but to pay it every month. At the beginning of the year, decide how much you want to contribute to your RRSP and then arrange for a specific amount to be deducted from your savings account every month and deposited directly into your RRSP. Bear in mind when you see these withdrawls on your account state- ment that it is these extra RRSP dollars that will let you do what you have always dreamed of when you finally retire. LINE HAMA ACEEETTTTTTTTIITNEN NENT N NEN NNER NRNN ANNA ARRAN NR NNRA NR AAN RANA RA ANNAN NNN NN NNSA ARS SINAN NSA A ARAL A LALA CETTE RN ER NRR NNN NN NARA SN ANAN ANNAN NAAN NNN NNANNAN ANN ANNAN ANNA NN AN AN NNN ANN TT ITT III IIIS, _ PORT PERRY STAR -- Tuesday, October 31, 1989 -- 13 © Former residents honoured by Seagrave Church Seagrave and Area News by Diane Cooke How can I not mention the weather! Hope everyone is spen- ding lots of time out of doors en- joying this summer-like weather. Relish in it while you can folks, winter will come sometime. During the church service last Sunday, Clark Ross, on behalf of the congregation, presented John and Hinke Hofstee with a plaque in recognition of their faithful and dedicated work to the Seagrave Church. Phyllis Wray presented a WEDDING INVITATIONS and Accessories PORT PERRY STAR 235 Queen Street Port Perry 985-7383 . -- WINDOW FASHIONS -- VERTICALS * MINI * MICRO BLINDS PLEATED & ROLLER SHAD Hundreds of Fabrics & Colours to Choose. Add a Touch of Class with an Executive Valance. Why not compare ... BH Quality, Price, Service FREE SHOP AT HOME SERVICE CALL ro 985-3067 gift to Hinke from the U.C.W. in appreciation of her untiring ef- forts with the ladies. John and Hinke moved to Oshawa and are greatly missed by the community. There will not be a service next Sunday due to the Greenbank an- niversary service at 11:00. All are welcome. Don't forget the Turkey Dinner is this Wednesday Nov. 1st. Everyone going is sure to enjoy a wonderful meal as well as an evening to enjoy the company of many friends and neighbours. Also don't forget the church U.C.W. is having a bazaar at the church at the same time as the dinners. Be sure to be careful when driv- ing Tuesday night as our little people will be out trick or treating. Kids remember: 1. Don't trick or treat alone, it's safer and more fun with a buddy. 2. Don't eat along the way. 3. Be careful crossing the roads. Have fun! Congratulations to Diane Puckrin, Joan Lee and Glenda Hutcheon who are the new owners of The Wheatsheaf Cafe in Port Perry. The grand opening will be Monday November 6th, drop in and say hello and enjoy a cup of tea or coffee. We are still looking for someone who will feed us some news from Mariposa Estates - Doesn't anything happen in there?! Belated sympathy to the Currie family of Robin Glade Estates on the recent passing of Ann's brother. Please call Ann Sandiford with your news for next weeks column. STANDARD TRUST IS GIVING AWAY displayed in your branch! Just open a new savings account of $2,500 or m catalogue. Gifts will be presented to you within the week and range in approximate retail value from $35 to $390 for deposits of $2,500 to $25,000 or more. Also, there will be a special draw for our existing savings account customers. Each new deposit of $1,000 earns you a chance to win the beautiful hand-painted figurine Once you try us we're sure you'll want to stay for good. ore and choose a free gift from our This offer is good for a limited time only and funds must remain on deposit for a minimum of 90 days. Drop in to your local branch and ask us for details. 165 QUEEN STREET, PORT PERRY 985-8435 Member - Canada Deposit Insurance Corporation STANDARD J TRUST "oun TOME TOWN SAVINGS CENTRE 3