We all want more money, but financial expert Cyrus Mazdine says most of us go about it the wrong way. Mazdine is the Cloverdale Branch Manager for , which means he meets Fraser Valley residents every day, and has an inside look at the common mistakes they make.

鈥淎 lot of people are living paycheque-to-paycheque, and forget that simple changes can make a BIG shift in their savings,鈥� says Mazdine, who offers these tips to get members on track.

1. Set goals

鈥淭he pandemic has been hard on many of us in various ways, and budgeting and finances may have been impacted,鈥� Mazdine says. 鈥淚f you feel like you鈥檙e falling behind a bit, setting realistic short-term goals will help you climb out of this time.鈥�

Even if you鈥檙e fortunate enough to be financially stress-free, Mazdine says setting goals is .

鈥淎 lot of people have no idea how much they鈥檙e spending. They think that as long as they鈥檙e 鈥榠n the black鈥� they鈥檙e doing fine, and it鈥檚 not until they start setting goals that they notice where their money is disappearing.鈥�

2. Keep it simple

Many of us have accounts at more than one financial institution, plus a mortgage and investments somewhere else. Mazdine says you can find significant savings by consolidating 鈥� it helps uncover oversights.

鈥淢any financial institutions charge $20-30 a month in banking fees. I don鈥檛 get why they do it, and I don鈥檛 get why consumers put up with it. Our doesn鈥檛 charge any fees, and you don鈥檛 have to keep a minimum balance or bundle it with other products. If you鈥檙e paying $20 a month for chequing, that鈥檚 $240 a year that you could be saving and putting back into your own pocket.鈥�

Consolidating also gives your financial planner the full picture, so they can recommend things like moving savings into a to save on taxes.

3. Consult a professional

Setting up a complimentary consultation with an Envision Financial advisor isn鈥檛 just about gaining financial knowledge. It gives families the opportunity to have complicated conversations that they wouldn鈥檛 have around the dinner table 鈥� who pays the hydro bill in a multi-generational home, what鈥檚 your estate plan, how do you handle child expenses, and more.

鈥淔inancial literacy is my favourite part of this job 鈥� I get to speak with youth in schools, and I get to speak with members every day. When we give a 19-year-old their first credit card we sit down with them for an hour and make sure they understand how to read their statements and . We aren鈥檛 taught these skills in high school, but it鈥檚 so important!鈥�

An advisor can help you build a custom budget plan and will offer tricks to help you track expenses. Find more financial tips at , or book an appointment at .

Envision Financial is a division of First West Credit Union.