Topic: Saving

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Creating Emergency Reserves

Emergency reserves serve a single purpose: if all other sources of income and investments fail, we can still survive for a few months and use that time to get back on our feet. In this article we'll explore ways to create emergency reserves.

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Creating Targeted Savings

Targeted saving is a simple technique to save for a specific goal or target. This is very useful when we want to separate a portion of our savings or investments so that it grows independently and doesn't get used for general day to day expenses.

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Automated Savings

Automating our savings process allows us to set things up so that the saving happens automatically (e.g., as soon as our pay arrives, on a specific date every month, etc.).

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The Power of Compounding

In this article, we'll explore and understand how compound interest works and how it can help our investments grow faster and really make a big difference. It is a great technique to use when saving or investing for the longer term.

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Mortgage Refinance

When interest rates decrease, it is an opportunity to refinance our existing home loan to either reduce our monthly mortgage payment or pay off our loan sooner. We'll explore a few ways to achieve this.

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Early vs Late Retirement Fund Withdrawals

Retirement funds allow us to withdraw from them periodically (monthly or annually). Typically, such funds tend to also have a withdrawal window of about forty years or so. In other words, we would be allowed to withdraw from these starting, say, in our sixties and continue withdrawing till our death.

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Simple Investment Plan Simulator

Here is a simple calculator to play with our expense/saving/investment ratios to get a feel for how (and how much) to allocate our money towards investments.

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Targeted Savings Calculator

In the article Creating Targeted Savings we saw the benefits of saving towards specific targets. The corresponding calculator is here.

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