Is Your Home Protected While You Travel?

For many Canadians, protecting their home from burglary prior to a vacation is often secondary to preparing for the trip itself. But no matter where you live, your income or your lifestyle, crime is a fact of life.

According to the Insurance Bureau of Canada, in 2005, theft accounted for 18 per cent of all homeowner insurance claims. Making sure your property is protected while you're away will ensure you're better able to enjoy your vacation.

Here are a few things to keep in mind before you leave:

• Ask a trusted neighbour to regularly check on your home for anything out of the ordinary.
• Set timers on interior and exterior lights or leave a few lights on in your house.
• Review your current home insurance policy to ensure it's up-to-date.
• Ensure your house appears lived in. Hire someone to shovel your walkways or mow your lawn and cancel newspaper and mail delivery or have someone pick them up.
• Ask a neighbour to park an additional car in your driveway.
• Don't leave spare keys hidden outside. Burglars routinely check welcome mats and window ledges.
• Install reliable dead-bolt door locks and sturdy window latches to help prevent break-ins.
• Store valuable jewelry and documents in a safe deposit box.
• Notify your alarm company if you're taking an extended vacation.

So when you leave for your next holiday, make sure you've considered all of these points. You'll feel better knowing that while you are away, you've taken as many precautions as you could have to ensure your home is safe.

Read More at the RBC Advice Centre.  :)

Commercial property: renting vs. buying

Finding the right spot for your business is key to your success. If customers can find your place of business easily, you won't have to work as hard to drive traffic to your doorstep. This means you have to identify your demographic (who your customers are), where they live and work, and where they typically go to find the type of product or service you're offering.

The question of whether to rent or buy commercial space is an important one, and the availability of property for rent or purchase will determine your location to some extent. The right choice varies from one business to another. Here are some questions to consider:

What can you afford?

When you lease or rent a property, you pay a monthly fee that covers the rental of the space and, in some cases, a portion of the utilities. When you buy a property, a sizable down payment is required, along with utility bills, property tax and ongoing maintenance cost. Before you decide which is the way to go, ask yourself the following questions:

• Have you considered all costs of each option?
• Can your business afford to use potential cash flow funds as a down payment?
• Will this investment help your business grow over time?

How long are you staying?

Put some thought into how long you expect to be at the location where you plan to set up shop. Do you expect your operation to grow over time, requiring more space for staff, inventory, or production? Leasing gives you the flexibility to relocate without incurring significant cost, and may be a better choice if you think you'll only be at a particular location for a short time. If you are certain that your business won't experience any dramatic growth, and that there are benefits to establishing yourself in one location to build awareness and customer loyalty, then purchasing a property may be your best bet.

What do the experts recommend?

As with any big decision, it's always best to seek the advice of professionals and your support network. Speak to a commercial realtor about property costs and market conditions. An accountant can help you weigh the financial pros and cons to each option and if you need financing, a financial advisor can help you determine what is available. Taking the time to assess your options will help you make the best decision for your business.

Thanks to the RBC Advice Centre for the great info!

Halifax Homeowners - Reaching Your Savings Goals

How can I reach my savings goals?

Sometimes the hardest thing about saving is getting started. How do you find that bit of extra money each month to put aside for a special purchase, or a vacation? There are some simple steps you can follow to get you on track for successful saving.

1. Get your goals straight

   It's a good idea to have a savings plan, and choose the goals that are most important to you. For example, you may want that new surround sound system, but also need an emergency fund so you're prepared for the unexpected. Figure out what your goals are, and the timing for reaching them. Then develop your savings plan accordingly.
   It helps to set a timeline for yourself to give you additional motivation to meet your savings goals. Some timelines are simple; for example, you may want to go on vacation six months from now, or you may be planning to have the down payment for a house ready in two years.

2. Do a budget

   Creating a budget gives you a clear picture of your finances, which will help you track your spending, and allows you to figure out how much money you have left over after paying your bills, saving for long term goals such as saving for retirement and buying your essentials each month. A budget will give you the ability to prioritize your expenses, so you can easily determine what is unnecessary spending and cut back where you can. Remember, unlike your mortgage or rent, you have control over your variable expenses - such as coffee, clothing, entertainment. This is the first place to look when you want to save money.

3. Stay committed

   Do you have a weakness for impulse shopping? It's important to stay focused on your goal, and ignore the urge to buy things that aren't included in your budget. Put your savings goals in writing, stay on track and try to ignore the impulse.

4. Set up the right accounts for your goal

   It's important to have the right bank accounts in place as you start saving. It's a good idea to have an everyday banking account for your day-to-day transactions (such as cash withdrawals, bill payments, paycheque deposits), as well as a dedicated savings account so you can keep track of the money you're setting aside.
   Look for a savings account that pays high interest. Consider, for example, the RBC High Interest eSavings® account which offers interest on every dollar, and free online transfers between RBC® accounts. This makes it easy to transfer money into your account, as well as to transfer your money out when you're ready to use it.

5. Pay Yourself First

   Once your savings account is set up, get in the habit of paying yourself first and setting aside some money from each paycheque to achieve your savings goals. It's easier if you think of it as something you have to do, like setting aside money for your mortgage or rent. A simple way to pay yourself first is to start automatic online transfers between your everyday banking and savings account. You can set up your transfers with the RBC Save-Matic™ program; simply choose the amount you want to save, and how often you want to transfer.

Once you make saving a habit, you'll find it easy to set money aside for the future- whether it's for a purchase in the short-term, or a long-term goal.

For more information, visit the RBC Advice Centre.

~Susan