This article has good intentions (it was also featured in the Globe & Mail) but, let's be real, I am concerned when Ms. Kett says take 20% of income to pay down debt or save and live off of the other 80%. This only re-affirms my belief that many planners are off the wall and full of crock.http://www.680news.com/2016/12/22/why-its-a-good-idea-to-review-your-financial-plan-at-least-once-a-year/
Kett suggests people try to live with 80 per cent of their net income, and put the remaining 20 per cent into investments, or paying down debt.
Alim Dhanji, a senior financial planner with Assante Wealth Management in Vancouver, says another piece of advice is to re-evaluate discretionary spending every year.“When you do a budget, you’re consciously aware of where your money is going and how much you have left over at the end of the month,” he said.