Moving in Barrie? Check out this Moving Checklist and Schedule!

Moving always brings mixed emotions – it can be both very exciting and stressful at the same time. To help, here are some useful tips that will help make your move efficient and trouble-free.

4 to 6 Weeks before moving

• Schedule your mail to be forwarded to your new address with Canada Post.

2 to 3 Weeks before moving

• Get boxes and moving supplies
• Arrange phone service at your new home
• Take unwanted items to charity and/or dump
• Dispose of household chemicals properly (old paint, caustic cleaners, etc.). Take these to the local Toxic Waste Centre
• Arrange the return of any cable TV equipment
• Complete necessary change of address forms:
  • Drivers’ license, Health cards, Insurance
  • Employer, Doctor, Dentist
  • Magazine subscriptions and other mailings
  • Memberships, insurance
  • Bank accounts, credit cards, and tax office (Canada Customs and Revenue Agency)
• If necessary, do the following:
  • Make travel arrangements and reservations.
  • Arrange transfer of car insurance & license plates.
  • Notify kids’ schools, transfer records.
  • Register at new school.
  • Get copies of medical and dental records; if you have pets, get copies of veterinary records.

8 to 14 days before moving

• Return borrowed items.
• Arrange connection of utilities at new place.
• Retrieve loaned items
• Arrange disconnection of utilities at old place.
• Arrange for major appliances to be moved, if necessary
• Dispose of all flammable materials.

2 to 7 days before moving

• Determine what you can bring with you if travelling by car, plane, train, or bus.
• Pack a suitcase with the clothes and toiletries that you’ll need the first day in your new home.
• Prepare “installed items” that you’re bringing (TV antenna or shelves*).
• Pack a special box with other essentials you’ll need for the first few days and marks this box “Do Not Move”.

The day before moving

• Take down curtains and curtain rods.
• Pack your personal belongings, except your alarm clock, necessary clothes, jewellry and bedding
• Empty, defrost and clean refrigerator; clean the stove.

Moving day!

• Keep paperwork accessible.
• Collect all keys; keep them in a safe place.
• Strip and dismantle beds.
• Clean premises that you are leaving, inspect with the landlord.
• Final walk-through: check all closets and cabinets
• If using a moving company, confirm the new address and delivery time with the driver
• If using a moving company, walk about with supervisor and sign inventory forms.
• Know how to reach your new landlord or superintendent.

After moving

Contact city/municipal offices to find out about garbage pick up, recycling facilities and local regulations and information.

* Note: Ensure your lease permits the items that you plan to install in a new place. Some leases may not permit the installation of shelving screwed into walls or TV antennas. Be sure to give proper notice; see the Provincial Fact Sheets on the Canadian Mortgage and Housing Corporation’s website for information on the notice required.

Adapted from: Canadian Mortgage and Housing Corporation

- See more at: http://www.canadapost.ca/ext/en/move/?page_id=965&icid=2013int792#sthash.gzDiudnj.dpuf

What's The Scoop - What is RE/MAX?

About RE/MAX

40 Years of Outstanding Agents & Outstanding Results

From a single office that opened in 1973 in Denver, Colo., RE/MAX has grown into a global real estate network of franchisee-owned and -operated offices with nearly 90,000 Sales Associates.

Those agents constitute the world's most productive real estate sales force. Through their efforts, they've made it possible to say that nobody in the world sells more real estate than RE/MAX.

RE/MAX, LLC is a privately held company still based in Denver and led by its founders, Dave and Gail Liniger. The system is based on attracting productive agents and providing them with valuable support, incredible brand awareness, educational opportunities and other competitive advantages.

Customer service – built on a foundation of drive, experience and education – is the cornerstone of RE/MAX success. The RE/MAX track record built over the past 40 years is proof that a focus on the customer's needs, backed by the ability to deliver, remains as important as ever.

In other words, great things happen when driven individuals come together and treat real estate as a profession. And that, in a nutshell, is RE/MAX.

Barrie and Simcoe County Area - Keep Cool! - Cooling STATIONS

Keeping Cool

Barrie
City Hall: 70 Collier Street
Public Beaches
Recreation Centres
Allandale: 190 Bayview Drive
East Bayfield: 80 Livingtone Street East
Holly: 171 Mapleton Avenue
Libraries
Main Branch: 60 Worsley Street
Painswick Branch: 48 Dean Avenue
Orillia
City Hall: 50 Andrew Street South, 8 a.m. – 8 p.m. (Hydration Station)
Library: 36 Mississaga Street West, 9 a.m. – 8 p.m. (Hydration Station)
Rotary Place: 100 University Avenue, 9 a.m. – 9 p.m.
Splash Pads & Supervised Beaches (extended hours as follows)
Couchiching Beach Park: Noon – 7 p.m.
Moose Beach: Noon – 7 p.m.
Splash Pads Open 9 a.m. – 9 p.m.
McKinnell Square Park: 135 Dunedin Street
Clayt French Park: 114 Atlantis Drive
Victoria Park/Memorial Park: 75 Coldwater Road West
Moose Beach at J.B. Tudhope: 450 Atherley Road
Bradford West Gwillimbury
Library: 425 Holland Street West (CLOSED SUNDAY)
Leisure Centre: 471 West Park Avenue
Collingwood
Arena (open to midnight): 97 Hurontario Street (Beside Town Hall)
Library: 55 Ste. Marie Street
Museum: 45 St. Paul Street
Essa
Libraries (CLOSED SUNDAY)
Angus Branch: 8505 County Road 10, Unit 1, Angus
Thornton Branch: 34 Robert Street, Thornton
Splash Pad: 6 Huron Street
Gravenhurst

Centennial Centre is open from 6:00 a.m. to 10:00 p.m. daily for the rest of this week

Innisfil
Recreation Centre: 7315 Simcoe County Road 4 (Yonge Street)
Libraries (CLOSED MONDAY)
Lakeshore Branch: 967 Innisfil Beach Road
Cookstown Branch: 20 Church Street
Stroud Branch: 7883 Yonge Street
Churchill Branch: 2282 4th Line
New Tecumseth
Alliston
Library: 17 Victoria St. E, Alliston
Recreation Centre: 7300 Industrial Parkway, Alliston
Beeton
Library: 42 Main St. W., Beeton (CLOSED MONDAY)
Tottenham
Library: 55 Queen St. S, Tottenham (CLOSED MONDAY)
Community Centre: 139 Queen St. N, Tottenham
N.B. Service dogs will be welcome at all sites, but unfortunately household pets will not be allowed due to health concerns
Oro-Medonte
Public Beaches
Penetanguishene Library: 24 Simcoe Street
Ramara
Libraries (CLOSED SUNDAY, MONDAY)
Main Branch: 5482 Highway 12 South, Atherley
Brechin Branch: 3242 Ramara Road 47, Brechin
Tay **JULY 16-18:
Township Municipal Office: 450 Park Street, Victoria Harbour
Libraries
Victoria Harbour Branch:145 Albert Street
Port McNicoll Branch: 715 Fourth Avenue
Waubaushene Branch:17 Thiffault Street
Tiny
Public Beaches
Wasaga Beach
Public Beaches
Splash Pad (for children): Beach Drive at First Street
Cooling Stations, open from 10:00 a.m. – 8:00 p.m:
Wasaga Stars Arena located at 425 River Road West
RecPlex located at 1724 Mosley St.
Library located at 120 Glenwood Drive

Waterslide Retirement Lodge located at 239 Zoo Park Road has made arrangements for an additional Cooling Station geared toward seniors

June another strong month for Barrie & District home sales

June another strong month for Barrie & District home sales

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 515 units in June 2013, on par with June 2012.

Within the City of Barrie sales activity edged down just one per cent (four sales) from a year earlier. The City of Barrie saw 310 residential sales in June.

“Home sales in the Barrie region have only topped the 500 mark in the month of June a handful of times in history, so we’re looking at some very strong levels of activity right now, and that’s a continuation from an equally strong month of May,” said Wendy Elzner, President of the Barrie and District Association of REALTORS®. “Rising demand has been outpacing supply, and increasing competition among buyers has resulted in an acceleration in price growth in recent months.”

The year-to-date average price for all homes sold via the Association’s MLS® System in June 2013 was $317,727, up five per cent from the same period in 2012.

The year-to-date average price figure for homes sold within the City of Barrie was $301,089. This was also a five per cent increase compared to the average selling price in the same period last year.

The Barrie & District Association of REALTORS® cautions that over a period of time, the use of average price information can be useful in establishing trends, but it does not indicate actual prices in widely divergent areas or account for price differentials between geographical areas.

The dollar value of all home sales in June 2013 was $168.7 million, up nine per cent from year-ago levels.

New residential listings edged up one per cent from a year earlier to 735 units in June 2013.

Overall supply remains at lower levels compared to much of the past decade. Active residential listings on the Association’s MLS® System numbered 1,564 units at the end of June 2013, edging down one per cent from the end of June 2012.

There were three months of inventory at the end of June 2013. This was down slightly from 3.1 months at the end of June 2012 and also stood below the long-run average for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Sales of all property types in the Barrie region numbered 521 units in June, down three per cent compared to June 2012. The total value of all properties sold in June 2013 was $170 million, up seven per cent on a year-over-year basis.

Important information

The average price information quoted can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas.

The Barrie and District Association of REALTORS® Inc. covers a geographical area that includes the City of Barrie and part or all of the surrounding townships, including Springwater, Oro-Medonte, Innisfil, Essa, Bradford-West Gwillimbury and Clearview. The Association provides continuing education, Multiple Listing Service® (MLS®), statistical information, and many other services to its members.

What's the Deal with the RE/MAX Balloon?

The RE/MAX Balloon

It’s one of the most recognized corporate symbols on the planet, and understandably so. At seven stories tall, the RE/MAX Hot Air Balloon grabs attention wherever it flies.

First introduced at the Albuquerque Balloon Fiesta in 1978, the balloon perfectly represented the RE/MAX network’s “Above the Crowd” commitment to quality. Today, the nearly 120 RE/MAX Hot Air Balloons in operation comprise the largest fleet on the planet.

In logo form, the RE/MAX Balloon is even more prevalent. It adorns countless business cards, advertisements, vehicles, yard signs, billboards, websites, T-shirts – you name it. In other words, the RE/MAX Balloon is virtually everywhere, and when people see it, they think of the local RE/MAX agents they know.

Agree or Disagree? Canadian couples make love and money work

Originally posted at Financial Post

Seventy-five percent of Canadian couples say they regularly touch base on their personal saving and spending, says an Investors Group poll released Tuesday.

What do you think? Is it easy for you and your partner to talk about sex or money? Here's an interesting article from Melissa Leong  online - The Investors Group survey which included 1,192 Canadians who are married or living common-law has a margin of error of +/-2.8% 19 times out of 20; the poll asked them about the spending behaviours of their partners and their approach to personal finance matters.

More of the article - click here 

Read Real Estate Investing & Other Stuff ▸ today's top stories

Click on the categories to the right your selected areas of interest

BARRIE: Ruling gets Allandale Station project back on track

Barrie is preparing to move ahead with the Allandale Station project.

Ruling gets Allandale Station project back on track

Stan Howe

Barrie is preparing to move ahead with the Allandale Station project.

The Correct Group Inc. (CGI) registered the certificate of pending legislation last year in a bid to stop the city from developing the station and negotiating a land exchange with an adjacent landowner.

On June 28, Ontario Superior Court of Justice Susan Healey granted Barrie's motion to have the certificate removed from the site.

Such a certificate puts involved parties on notice that litigation is pending, city spokesperson Rebecca James-Reid said.

"Although the underlying lawsuit continues, the … decision is clearly a positive step and supports the position the city has taken," she said.  

City staff will now develop a strategy for the station lands and report back to council.

CGI also launched a $28-million civil suit in December. It has since been expanded to include claims against city officials and employees and highlights contamination on the site.

"CGI is disappointed the court did not find in its favour, as it would have been one step closer to building a beautiful project on the site," the company said in a prepared statement.

The firm is now deciding if it will appeal the decision or simply pursue damages.

The developer claims the city reneged on a preliminary agreement to sell the land to CGI for commercial, office and residential buildings on the land. It also claims the city failed to disclose mercury and benzene contamination, even to an appraiser, who recommended the city seek a higher price for the site.

The allegations have not been proven in court.

In her ruling, Justice Healey said the city proved CGI "does not have a reasonable claim to an interest in the Allandale Station lands."

Barrie and CGI signed a preliminary agreement in May 2009, which also included the YMCA of Simcoe Muskoka. But the YMCA pulled out in January 2010, citing a growing financial risk.

The city and CGI continued talking, but never agreed on a master site plan or a purchase price, the judge noted.

The city halted talks in December 2010.

In September 2011, the city put the site on the market and, in January 2012, city council authorized staff to negotiate exclusively with another developer.

Weeks later, CGI registered the certificate of pending legislation on the land, which halted the talks as well as those with Re/Max for a land exchange.

The city also could not proceed to call for proposals for tenants in the station, in which it invested $4.5 million to upgrade the exterior building. No interior work has been done.

Thanks Laurie Watt/Barrie Advance

Retirement savings: Couple, 70, wonders how to make them last

Monday Makeover looks at a 70-year-old couple wondering how much they can safely spend each year without depleting their savings.

Carl and Donna are ready for some fun. So, at age 70, they are planning a $9,000 trip.

This is a luxury they can certainly afford. They have more pension income than their $29,000 of basic living expenses, plus $619,000 in savings and a $350,000 Toronto home.

They have obviously managed their finances well to achieve such a high level of savings. Only part of the money came from a recent inheritance, and the sale of a second property. More significantly, they have not spent lavishly on their family home. They raised only one child and delayed drawing on savings.

Now they wonder how fast to spend their savings, yet not run out.

Cynthia Kett of Stewart & Kett Financial Advisors Inc. proposes a simple and conservative rule of thumb that any of us could use to pace the use of our savings to last a lifetime.

First she took into account the tax Carl will owe as he gradually draws down the $224,000 now in his registered retirement savings plan (RRSP). She deducted 20 per cent for tax, the rate most retired Ontario couples will pay if their taxable income is evenly split and totals no more than $79,500 a year.

Then Kett divided $573,000, her estimate of their net savings, by 25 – the number of years between age 70 and 95. This will limit the risk of running out of money, as only about an eighth of Ontario residents who reach age 70 are expected to live to age 95. (An eighth of men could reach 94, and an eighth of women 97.)

(Note: A life-expectancy calculator is available on the website lifeinsurancecanada.com. It provides the age that half of those of a certain age will attain. Then the expected lifespan of the half who survive can be tested, and so on.)

By Kett’s formula, Carl and Donna could comfortably spend an additional $22,200 from savings and investment income the first year. They could increase spending each following year in line with the rise of consumer prices, just like a government pension plan.

Only two possible hitches could arise. They could live longer than about 87 per cent of those their age, or their investment returns could disappoint.

But Kett, who is both a Chartered Accountant and Certified Financial Planner, set a modest investment target – the same as the annual rate of price inflation, plus enough to cover the taxes on the investment income.

So, if inflation were to average 3 per cent over the next 25 years, Carl and Donna’s savings would need to earn 3.75 per cent a year.

If inflation were to average about 2 per cent, which is more than during the past 20 years, they would have to earn 2.5 per cent on investments.

That lower inflation amount is about all that a retail investors can now obtain investing directly in long-term Government of Canada bonds. So Kett would encourage Carl and Donna to continue including corporate shares in their portfolios.

Kett cautions that some of the $22,200 in 2013 dollars that Carl and Donna could withdraw each year would be needed to offset a decline in the purchasing power of Carl’s $18,000 company pension.

Unlike the $25,600 of income the couple receives from Old Age Security and Canada Pension Plan pensions, his company pension amount is fixed for life with no promise of annual adjustments.

In a world of 2 per cent inflation, a 70-year old retiree with a fixed pension would need an RRSP equal to about four times their annual pension and an annual investment return of 2.5 per cent to compensate for the loss of purchasing power over a 25-year period.

So Carl could either dedicate some of his RRSP to supplement his pension, or the couple could accept a gradual decline in purchasing power over the years.

It will be up to Carl and Donna to decide whether to actually spend as much as the limit revealed by Kett’s suggested formula.

They might wish to leave more than the value of their home to their heirs. They might wish to plan for major expenses such a home renovation, car purchases or the cost of help in the event of a disabling disease or injury.

They might also wish to save some capital in case Carl were to die before Donna, since she would lose his OAS pension, some of his CPP pension, and $6,000 of his company pension, Kett points out.

She recommends that Carl convert his RRSP to a registered retirement income fund (RRIF) before the end of the year he will turn 71, rather than purchase a life annuity from a life insurer.

“That will give them the maximum flexibility from a cash flow perspective,” she points out. The savings inside the RRIF could be transferred tax-free to Donna if Carl were to die, or to heirs if they both were to die.

“I wouldn’t recommend an annuity because interest rates are very low right now…(it) will generate relatively modest retirement income...(and) also the annual amount cannot be changed after the fact.”

Kett noted that Donna plans to use part of her inheritance to pay for their trip. She suggested that Carl repay her from his non-registered savings, and that Donna invest the money as she will pay less tax on investment earnings.

They should also make maximum use of the right to split income from Carl’s company pension and, in future, the income from his RRIF withdrawals.

The client

Carl and Donna, 70

Their situation

The retirees have nearly enough government pensions to pay their basic expenses, plus Carl’s $18,000 company pension, plus $619,000 in savings they would like to spend on some fun, but not so fast it could run out.

The strategy

Assume Carl will be able to use only 80 per cent of his $220,000 in registered retirement savings after tax, and after the adjustment, simply divide the total of all savings by 25 – the number of years that only about an eighth of 70-year-old Ontario residents might live. Limit annual withdrawals of capital and interest to a 25th of savings, or $22,200 per year.

Assets:

Home $350,000

Retirement savings $224,000

Non-registered investments $344,000

Tax-free savings $51,000

Three cars $20,000

Total: $989,000

Liabilities: $0

Annual income

Old Age Security $12,516

Canada Pension Plan $13,100

Company pension $18,000

Investment income $10,220

Total $53,826

Annual expenses

Property taxes $2,300

Shelter $9,666

Household operation $4,900

Medical $200

Transportation $5,900

Source: THE STAR

$2.4M Improvements! Numerous improvements in store for Barrie high school

Originally posted Barrie Examiner

St. Joseph’s Catholic High School will undergo a major renovation this fall.

The $2.4-million retrofit for the Catholic school on Cundles Road East will begin this summer.

“We are looking forward to getting this project underway,” said director of education Brian Beal. “These updates to St. Joseph’s will help bring the school up to the exceptional standard we have in our other Catholic high schools in Barrie.

“I know the students and staff will both benefit greatly from this renovation,” he added.

Several building components at the school will be updated including roofing, lighting, the boiler and HVAC, painting and new lockers.

The front entrance to the school will also be enhanced.

The school will also benefit from new program-specific spaces to meet the requirements of the current high-school curriculum. Students will receive specialty rooms for music, dance/drama and math as well as updating the special education area.

A safe schools modification will be made to the front office that will enable staff to monitor the main entrance and corridor.

Another safety feature will be the installation of corridor doors so community access to the school after hours will be restricted to defined areas within the school.

In addition to these changes, there will be more meeting room space to accommodate school and board needs.

Additional parking will also be made available.

The last addition and retrofit took place in 2001.

The project will get underway immediately and with the work expected to be finished in December 2013.

Strong Real Estate Sales for Barrie and District This Month!

June another strong month for Barrie & District home sales

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 515 units in June 2013, on par with June 2012.

Within the City of Barrie sales activity edged down just one per cent (four sales) from a year earlier. The City of Barrie saw 310 residential sales in June.

“Home sales in the Barrie region have only topped the 500 mark in the month of June a handful of times in history, so we’re looking at some very strong levels of activity right now, and that’s a continuation from an equally strong month of May,” said Wendy Elzner, President of the Barrie and District Association of REALTORS®. “Rising demand has been outpacing supply, and increasing competition among buyers has resulted in an acceleration in price growth in recent months.”

The year-to-date average price for all homes sold via the Association’s MLS® System in June 2013 was $317,727, up five per cent from the same period in 2012.

The year-to-date average price figure for homes sold within the City of Barrie was $301,089. This was also a five per cent increase compared to the average selling price in the same period last year.

The Barrie & District Association of REALTORS® cautions that over a period of time, the use of average price information can be useful in establishing trends, but it does not indicate actual prices in widely divergent areas or account for price differentials between geographical areas.

The dollar value of all home sales in June 2013 was $168.7 million, up nine per cent from year-ago levels.

New residential listings edged up one per cent from a year earlier to 735 units in June 2013.

Overall supply remains at lower levels compared to much of the past decade. Active residential listings on the Association’s MLS® System numbered 1,564 units at the end of June 2013, edging down one per cent from the end of June 2012.

There were three months of inventory at the end of June 2013. This was down slightly from 3.1 months at the end of June 2012 and also stood below the long-run average for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Sales of all property types in the Barrie region numbered 521 units in June, down three per cent compared to June 2012. The total value of all properties sold in June 2013 was $170 million, up seven per cent on a year-over-year basis.

---

Important information

The average price information quoted can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas.

The Barrie and District Association of REALTORS® Inc. covers a geographical area that includes the City of Barrie and part or all of the surrounding townships, including Springwater, Oro-Medonte, Innisfil, Essa, Bradford-West Gwillimbury and Clearview. The Association provides continuing education, Multiple Listing Service® (MLS®), statistical information, and many other services to its members.

Want to Buy a Home or Investment? Seven Ways to Save for Your Down Payment

Seven Ways to Save for Your Down Payment

Though some lenders now offer 100% financing on mortgages, there are high interest charges and insurance premiums. SAVE YOUR MONEY! Very few things in life are quite as exciting as buying your first home. It's part of a life's dream. And although home prices keep rising, ownership is within the realm of possibility, even for those who don't make large salaries. Of course, the larger your down payment, the lower your monthly payments. And if you can come up with 25 percent, you avoid paying expensive Mortgage Insurance Fees. Here are seven ways to begin now on your mission of owning your own home: Step 1: Get with the program The first step toward saving enough money for a down payment is a psychological one—desire. You (and your spouse or friend) must REALLY want to buy a house. With enough passion for ownership, you'll find yourself motivated to save every penny you can. To boost your desire, spend a weekend looking at houses or condos within what you think is your price range. Saving will be a whole lot easier if you have a vision of a two-bedroom, two-bath house with white shutters on Elm Street dancing in your head. This vision will make it easier to say no to shopping sprees, buying a second car or going on an expensive vacation. Take pictures of your favourite properties and tape them to your refrigerator door or better yet, prop them up on your desk next to your cheque book. Step 2: Review your budget Or, if you're budget-free (but who is?), draw one up. Then list those areas where you can cut back on spending and earmark that money for your special Down Payment Account. Yes that's right, create a DOWN PAYMENT ACCOUNT (DPA). Don't have that accessible by Interac and make it unavailable for withdrawal. Ask your bank or financial institution about a high interest savings account and don't make it available! That's most important. This is discussed more in STEP 3.  Don't cut out everything that's fun ... you still need to enjoy life before the house, but do start to be more cautious. Here are some savings tips to get you in the right frame of mind. Add your own to the list. Drive at the speed limit. Traveling at 120 KM versus 100 KM increases fuel consumption by a whopping 20 percent. Clip coupons. If you save $25 a month with food and drug coupons, that turns into $360 a year. Take your lunch to work! If you're spending $8 a day on a sandwich, drink and dessert, that's $2,000 a year (assuminng you've taken two weeks out for vacation). That's not counting those in-between snacks of chips, pretzels, iced cap, etc. Figure out what you spend per day on lunch then on the days you brown bag it, deposit that amount into your newly created DOWN PAYMENT ACCOUNT (DPA). Carpool. Or, walk, bike or take the bus to work. Taxis are a guaranteed way to spend $5 in five minutes. Talk less. Make sure you have the cheapest calling plan. And if you make a lot of long distance calls, get a prepaid phone card. Skip the babysitter. Set up a co-op arrangement with friends and neighbours. Stop (or limit) your smoking and/or limit your coffee purchase from Starbuck's or Tim Horton's. Did you know that by quitting a pack-a-day habit will save you about $2,000 a year? OR, if you skip that extra 2 cups of Timmy's that's $1.50 and you've saved $1,095 a year! Or, PRETENT that you smoke or drink that extra coffee and deposit that money into your Down Payment Account (DPA). Cut back on dining out. Send the amount you save to your Down Payment Account (DPA) Never open a catalogue or flyer. Toss them out immediately!! If you peek inside you're bound to find something you like and chances are you don't really need. Make a shopping list. Be prepared, plan ahead and don't buy stuff you don't really need when grocery shopping. Don't carry much cash. If you leave your ATM card, your credit card, your debit card, your cheque book, and most of your cash at home, it will be hard to spend much. Instead, carry enough cash for the day plus one blank cheque and for emergencies, several traveller's cheques. Step 3: Open a Down Payment Account You'll need a special account to hold your savings, such as a high-yielding bank savings account that you can't easily access. Do NOT put this account on your Automatic Debit Account and make sure that the withdrawal is not available on a cash machine either. Make withdrawal only available by the teller so when you see that long line up, you'll be discouraged from make any premature withdrawals until you've saved what you need to save. Bottom line: You'll be less apt to use this money for something other than your soon-to-be new home! Step 4: Tell your family If your parents or other relatives send you presents for your birthday, anniversary or the holidays, they might instead contribute to your Down Payment Account. Don't insist—some parents prefer to shop for special gifts for their kids. However, it won't hurt to let them know about your goal. Step 5: Go Automatic If you don't see it, you won't spend it. Arrange for a certain dollar amount to be taken out of each paycheque and automatically transferred to your savings or money market account at your bank or credit union. If you're self-employed, set up the same type of plan at your bank and have money transferred each month from chequing to savings or to a mutual fund. Step 6: Reduce credit card debt Always pay at least the minimum due each month on your cards to avoid high interest rates. Better still: Pay each bill in full and completely avoid high rates on unpaid balances. And make certain you mail the cheque, do bill payments online or transfer the money well in advance of the payment date. A growing number of credit card issuers are hitting customers with late arrival penalties. TIP: Ideally, you should wipe out credit card debt as quickly as possible. Begin by paying down the credit card with the highest interest rate first. Step 7: Keep on a-paying When you pay off a car loan or education loan or get rid of a credit card debt, continue to write a cheque for that same amount every month—but put it into your Down Payment Account (DPA). You've learned to live without that money, so now you can sock it away.