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Little things While some of those resolutions will likely be made right after wak- ing from the events of New Year’s Eve, financial experts say resolv- ing to make a few small changes in your lifestyle could keep your finances healthy â€" especially as our economy continues to struggle. BY [OE PANTAUZZI jfantauzzi@yrmg.com Mth a new decade upon us. many resolutions will be made to better ourselves in 2010. Most of the time, those who run into financial difficulty do so because of a lack of discipline, said Alan Kaplan, an associate professor at Ryerson University’s Ted Rogers School of Management. Mr. Kaplan suggested putting yourself on a forced savings plan. through which money is diverted from your paycheque and into sav- truhoarlnglqu Small savings can quickly add up, while small purchases can pave path to financial woe 0 SALES and SERVICE Io ALL MAKES OF HEARING AIDS 0 TIIIIIIIIIS TIICI'IIIV - ADP. WSIS. DIM AUTHORIZED DISPENSERS - NO CHARGE All Inclusm Loss and Damag- Imnm «1 you - IIurIug MIMMS - "whom to Somme - IIO CIIAIIOE MI IIIGIIISIVS mama-ms Wan-My - 2 yam - IIanng All EnIIlIIm - 34 Day FIII SaIIsmIIon 8mm. - man and Harm AIII W - W VIIIII EIIT (Ear. m and Throat) Doctor OWUSIOIIIII DulusFlW OFIII‘I'IM Expuloml 0mm AIIIOIOIISIS ommmmu-uummMu-m thumYu ings or investments. VAlso, don’t put yourself in a situ- ation where there is temptation to spend by holding several credit cards, for instance. Mr. Kaplan said people spend beyond their means, especially during holiday periods, for two big reasons: we want to keep up with the loneses and we want to be nice to other people by purchasing “Only spend money you have,” Mr. Kaplan urged. The professor’s advice? Recognize your limitations but, if you can’t control your spending. seek help through a credit counsel- ling agency, such as Consolidated Credit Counseling Services of Can- ada (consolidatedcredit.ca). Still not convinced resolving to better manage your finances in 2010 is worthwhile? Consider the backdrop of eco- nomic turbulence as painted byTD 203-37 7 Church Street, Markham ON 1.68 1A1 T: 905-471-4327 F: 905-471-4338 For Your Best Hearing To Darrell : Would you like to improve your Science brings you closer to natural human hearing than over before Famnmmesenweasm Financial and the Bank of Canada. TD Financial Group Economist Grant Bishop said he expects the rate of consumer insolvency â€" the inability to meet debts and pay billsâ€"tobesimilarthisyearto what it was last year. The insBlvency rate climbed last year as unemployment grew, Mr. Bishop said in arnie-mail. r In Novembef, 'I'D forecasted 150,000 to 155,000 consumer insol- vency filings for all of _ Household debt was singled out as one of the most prominent threats to the Canadian financial system by the Bank of Canada last month. The good news is, the finances of Canadian households were in better shape, when compared to those in the United States, going into the economic downtum and, as a result. were less vulnerable, said Bank of Canada governor Mark Carney. “It is the responsibility of house- holds now to ensure that in the future, when the recovery takes hold and extraordinary measures are unwound, they can still service their debts," Mr. Carney said While many people can be cau- tious not to purchase a $200 sweat- er, it’s the little things â€" the cofiee, danish, lottery tickets â€" that add up over time to create financial dif- ficulty, said York University finance professor Moshe A Milevsky. For people trying to be care- ful with their investments, when something is being talked about by friends, neighbours or in the press, it’s probably too late to maximize your return, Mr. Milevsky said; If you’re struggling. pay off your high-interest debts, such as credit cards and auto loans, before you even think about investing, he said. Markham Stouffvilie Hearing Services Established 1990 377 Church St. Suite# 203 The Audiology Centre Established 1986 1333 Sheppard Ave. E.. Suite# 340 Tprlagftamearling, West End Hearing Established 1991 1243 lslington Ava. Sunet 711 NORTH YORK 41 6498-41 51 NIKKI!“ 905-471 4327 ETOBIGOKE 41 6-233-8581 Service v Don’t incur overdraft 0f non-sufficient funds fees; » Make a budget and elimi- nate unnecessary expenses; > Pay your bills on time; > Find out what you: credit score is and; v Reassess all of your fixed bills (ie. Is your cellphone plan the best for you?) Source: Center for Enueprmeun'al Literacy MOVING FORWARD