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| HOW TO SAVE MONEY | | | Save money without changing your spending habits!
Going from loan payments to a pre-authorized withdrawal from your checking account into a savings account is a winning approach. A pre-authorized withdrawal into a savings account is when a certain amount is withdrawn from your account over a period of time and deposited in an account with a higher interest.
This strategy allows you to put an interesting sum aside, while having almost no effect on your personal budget.
How is this possible?
You have no need to change your spending habits since you are already accustomed to seeing money leaving your account automatically and going towards a loan. Why not send that money towards a savings account instead when the loan is reimbursed? This way, you can put money aside quite easily while not having to change your spending habits.Save money by reimbursing your mortgage, is it possible?
A small tip to help you save money when it comes to your mortgage is to pay off your mortgage every two weeks in the accelerated mode instead of doing monthly payments.
A monthly payment of $ 1000 amounts to an annual payment of $ 12 000.
- 12 monthly payments of $ 1000 = $ 12 000
If you were to take this $ 1000 and proceed to split in half (thus, an accelerated payment of $ 500 every two weeks), this equals to an annual payment of $ 13 000 .
- 26 payments of $ 500 = $ 13 000
There are many benefits to this change: The change does not affect your budget.You would be able to put $ 1 000 more on your mortgage annually.You can then pay off your mortgage faster.You pay less interest.
Tips for reducing your service charges - Choose one of our fixed monthly fee plansUse the How to reduce your service charges simulator to find out which account or plan is best suited to your needs.- Sign up for AccèsDAccèsD Internet makes it easier to manage your personal finances. This free online transactional service is accessible from anywhere in the world at any time1.
Find out more about AccèsD Internet- Use Desjardins ATMsMake your regular transactions at Desjardins ATMs and save up to 40% on the fees that apply when you make them at the teller counter.
Try to use Desjardins ATMs as often as possible since additional fees apply when you make withdrawals at other ATMs (Interac network).
Locate a Desjardins ATM- Automate your bill paymentsOpt for direct withdrawal to pay your regular bills.
Find out more about direct withdrawalOpen a bill payment file at your caisse or by calling AccèsD services. You can then pay your bills at the ATM quickly and easily. This will save you up to 73% on the service charges that apply to ATM payments of bills that are not registered in your file. Pay your bills safely through AccèsD (Internet or Telephone) from the comfort of your home. You can even program your payments in advance.
Find out more about paying your bills online- Get a VISATM Desjardins credit cardWhen you pay with your VISA Desjardins card, you avoid paying with cheques and you save related fees.
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Find out the advantages of each of the VISA Desjardins credit cards
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