Police watchdog called in
Mayor calls 'BS' on list
U.S. authorities find bodies
Premier stands by pick
Canada's most-wanted list
Sask. will still get rebates
Santos ends comeback bid
Douglas C-54 plane crashes
Trump's 'eyes and ears'
US TikTok ban sent to Biden
Phish fans enter the Sphere
CN Rail profits fall 
Warriors snakebitten in loss
Iginla off to Europe
Rockets ink prospect
Alleged Tupac killer in court
Lawsuit accuses Megan
Bam Margera’s tour axed
To stay on the right track for each decade of your life, you need to stop moving your money problem around—raiding one pot to pay a debt in another pot. Start by stashing away your credit cards and live within your means every day of the month.
In your 20s:
Pay off your debt and clean up your credit score. Stick to a lifestyle that allows you to pay down your debt and save a little too. Understand how your credit score is calculated and learn how you can improve it. A great rating will reward
you with low interest rates and a bad one will taunt you like a bully.
In your 30s:
Save for a down payment for a home and build an emergency cash fund. If you don't have the five per cent or so, you're not ready to own. Start by setting up automatic monthly transfers from your chequing account to an account designated for your homeownership goals. And don't forget to build a cash reserve too—eight months worth is what most money experts recommend.
In Your 40s:
Save for retirement first, and then for your kids' education. Take advantage of your employer's retirement plan contributions, and start putting away 10 per cent of your income toward your retirement goals. If you can't afford that,
contribute what you can.
In Your 50s:
Speed up your mortgage payments. Now is the time to increase your mortgage payments. You'll save money on interest and head into retirement without large, looming bills. It's a win-win combination.
In Your 60s and 70s:
Live comfortably through your golden years—you've earned it. Travel the world and enjoy hobbies you could not pursue while you were busy working and saving. Fulfill your deep sense of purpose through philanthropy—become an activist, volunteer with a local organization or sponsor a child in need through an organization like Christian Children's Fund of Canada (www.ccfcanada.ca). You can even meet your sponsored child, and see first-hand how your support helps children who need it most.
If you need any help through the stages call us today (250) 862 1806 or visit our website - Okanagan Mortgages.
This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.
