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Page THE HERALD Wednesday February 1989 Banks offer special services for seniors As Canadas average age goes up and grey power increases ap pealing to ihe has been an important feature of banking in the 1980s Hyperinflation followed by recession which characterized the early years of the decade demonstrated the special vulnerability of those on a fixed in come has been rccognucd that retirees or those about to retire arc most concerned with getting the most from their savings and keep ing costs as low as possible As result two areas hac been emphasized in many seniors scr vice packages reduction or elimination of service charges and premium rates of interest on savings deposits Each bank has us own approach but these two treads arc a common factor to all Often a feature of the package is a card for use in the bank sautomaicd teller machines ATMs People who may have been reluctant to try these machines arc encouraged lo try them as one answer to waiting in long lines Some banks have extra staff at the counter to serve pensioners at peak periods Users of ATMs also have access to their accounts after regular business hours Normally theres a commission cost on purchase of money orders or traveller s cheques Then there arc service costs to write cheques pay bills or transfer funds between accounts They can add up Ask for help Seniors can talk to branch staff about how to get discounts or com eliminate many service charges with a seniors service package To get these privileges all a senior has to do is ask Banks also may provide special cheques and deposit slips with duplicate copies which provide a copy of each transaction as it is made Many people find this to be a convenient recordkeeping method Planning for retirement is another way banks arc reaching out to senior ciuzens For example banks offer Registered Retirement Savings Plans RRSPs and Registered Retirement Income Funds RRIFs Further about services for seniors is available from your local branch When it comes to bankings there arc advantages in having reached die golden years And thats the way it should be Canadian Bankers Association lias produced a new bookies Slept to Retire meal Planning Now for Your Financial For a free copy write Bankers Association PO Box I irsi Canadian Place Toronto Ontario Timely tips to help you keep track of your money Sometimes it to that what you buy h to for So here are a few guidelines to help you keep control of your financial affairs especially your debts Theyre courtesy of those who know most of all about money your friendly neighborhood bankers They say Make a budget for yourself and stick to it Make sure you know what is coming in and what is going out Avoid impulse buying Ask your self If I had lo pay in cold hard cash would I make this purchase Make a habit of comparison shop ping Never buy anything and that includes credit without com paring costs and values Always read and make sure you understand application forms before you sign them Be careful of co signing a loan or guaranteeing a loan on behalf of others Remember that you could end up paying off the loan if the borrowcrcannothandlcit Ask the same questions of the borrower the lender would ask Be knowledgeable aboul the cost of credit Are you using the right type for your purpose Are you using a more expensive form of credit than necessary Be sensible about the number of credit cards you use How many do you really need Are you using them simply because you have them YMS COMPUTERS No Business is too small to computerize Call now for a personal analysis of your business needs 5198534534 21 Mill St West ACTON L7J1G3 Cellular Phones Fax Machines Computers Software I Tram and w- Is there a condo in your future Maybe youre an empty The children have grown and gone and youre finding the family house big and empty and a chore to maintain So youre been thinking about rcnung an apart ment Bui what about a condominium Certainly there are many ad vantages although this la living style doesnt sun everyone and if you do decide in favor youil want to check out the par ticular properly pretty carefully before you make the big change On the plus side owning a condo apartment mean you retain an equity position in the marketplace and if you like to travel you can pull up stakes at short notice and worry all the lime you away about the empty house attracting breakins or burning down Choose with care As you look at condominium op youll discover theres a wide variety of different cultures from building to build ing Considcrcarjcfully the degree of ncighborjincss you enjoy and look that of jusl that Some condos arc microcosms of villages People arc involved with one another and arc forever or ganizing committees and Othcrsarclcss unit owners tend to keep themselves to themselves So before you decide by all means talk to several owners in the buildings youre looking at to see whether the culture there is just right for you Fitness facilities Many condominiums offer out standing facilities for physical fit and swimming pools in par offer exercise that many people can enjoy all their lives Dont decide in haste conclude a condo just for you after all But a thorough check of able will help you come to the right decision HR BLOCK THE INCOME TAX SPECIALISTS Acton 853 1771 On The A Main St N TAX SCENE CHILD CARE Mill Street QUESTION I am a widow and mother of a eight year old boy I paid a baby sitter a week for 50 weeks to care for my son while I worked and earned 20 May I deduct any of this ex pense on my tax reurn Mark Buhck ANSWER Supporting persons may claim a child care deduc tion for the least of the amount they actually paid two thirds of their earned income and 2 000 per child aged to 1 4 or 000 per child aged 6 or younger or with a severe disability In your case the allowable deduction is 2 iiitz Computer Data Sanrtcaa Financial Statements General Ledger Accounts Receivable and Payable Payroll Financial Forecasts and Cash Flow Mortgage Schedules 8776565 8775656 37 WAINS GEORGETOWN BRIAN GOODLET 8775129 ANNUM IKS Mutual Group of Companies JiNANCIALf Chartered Accountants Goebelle Alexander Call our display advertising today and we will get your message to 35000 readers 8772201