Arlene Dickinson's tips for financial success

The entrepreneur shares her story and advice for how to be smart with your finances.

After struggling financially, Arlene Dickinson learned the hard way how to manage her finances — and became an entrepreneur in the process. Here’s what she’s learned about being smart with your finances.

Tip 1: Small change adds up
Think twice before tossing change into the bottom of your bag. Change can add up quickly, so try to start a coin jar and you’ll see the reward.

Tip 2: Consider an RESP/RRSP
Putting money into an RESP or RRSP can make a big difference in the future, especially when it you have expenses down the line like school for your kids.

Tip 3: Pay it forward
Try to put 10 per cent of your earnings into a savings account. The extra money will give you a safety net, plus a part can go to something important to you, like a charity.

Tip 4: Don’t take the small numbers for granted
If you do the math, $4 a day adds up to about $1,500 a year. Savings can really add up, so try to make small changes like making coffee at home instead of buying one.

Tip 5: Pay off your debt
Make paying off debt a priority and work on the most expensive one first. The faster you pay off debt, the more money you will save.

Tip 6: Get advice
Don’t be afraid to seek out advice for any financial questions you may have. A financial advisor can help you make smart decisions, regardless of how big or little they may be.

Tip 7: Set goals
Working towards a goal will make saving money easier and keeps you on track. Think about how great it will be when you’ve saved enough for a dream vacation!