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So we tend to be a frugal lot, we Canadians but it seems we can save money and save on average $2389.55 each year.

- Stop betting $2/wk on lottery tix - $104/yr
- Stop using other banks ATM’s - $76/yr
- Unplug appliances at home - $216/yr
- Stop using premium gas - $522/yr
- Stop paying for an annual gym membership - $813.60/yr
- Stop bundling telecom services - $271/yr
- Stop smoking - $208/yr
- Pay credit cards on time - $99/yr
- Stop drinking bottled water - $345/yr
- Stop using car washes - $130.75/yr


TOTAL SAVINGS: $2389.55
So what would that be worth in today’s dollars if we had invested that amount say, 10 years ago
What could that have turned into?

If we assume a 7% return it would amount to about $35,000. The main point is that your money will double every 10 years at a return of 7%. It has a snowball effect so several variables can affect the end result. The earlier you start, the amount you put in, the rate of return and whether it is registered or taxable. The key to this excercise is understanding the snowball effect and the bigger the snowball the bigger the double.