On my tracking bars, you have no doubt seen that I would like to save about $1000 to be able to buy shares at my company. They recently changed the minumum share purchase from 25 shares to 20 shares. Which means I now need about $800 Canadian to buy shares. You can buy shares in June/December of each year - I won't have enough funds ready by this month - so I would like to buy shares by December.
I have already saved $286 through the share purchase program at work, so I figure I need approxmately $462 (I will save another $52 bewteen now and July 1) between July 1 and Dec 30 - that gives me 13 pay periods (b/c the new deductions won't take place until July 1st).
I currently tuck away $26/bi weekly.
I would have to increase my deductions to about $35 bi weekly.
I would hate to increase my deducations, and then come december have to wait another 6 months because of currency rates - so I am thinking of increasing my deductions to $40 or $50 bi-weekly.
What do you think?
Should I increase my deductions, or stay the course - and wait a year or two.
Buying Company Shares
Related Posts:
Vision ExpensesI wear glasses about 80% of the time and contacts the other 20%. I prefer contacts but like to give my eyes and break and generally only wear them when I'm going out, when I'm active in sports and when watching 3D movie… Read More
CPP & EI Max OutLast year I wrote about maxing out my CPP and EI contributions and I was pleasantly surprised when I realized that my Christmas budget was going to get a significant boost at the end of the year.
A lot o… Read More
Lawn Chairs - Doin' it RightIt seems that most of what I've been writing about lately are just checking in posts with where our spending is at, and it's usually not in a good place these days. We are actually doing somethings right - so I'm going … Read More- Do You Groupon?Groupon seems to be one of the hottest online couponing services out there right now!
If you haven't heard of it yet, Groupon offers unbeatable daily deals from top local businesses in over 100 cities. Each deal goes viral… Read More
Roaming in the US of AOur honeymoon is in Vegas...and for those of you that don't know, I'm from Canada and roaming in the States is brutal expensive! I don't think that Jordan and I need both cell phones and the ipad when we're meant to be … Read More
stay the course
ReplyDeleteAnonymous says eh?....
ReplyDeleteCan you make the increased deduction without decreasing your debt repayment? Can you find the $$ through more careful grocery shopping or selling baby fishies? I would be inclined to bump up my deduction a bit, because, really, you probably won't notice $25 per pay.
ReplyDeleteI am inclined to think that it would be worth it - once I buy the first 20 shares, I can purchase them in increments of 5, so I wouldn't need as much $$ saved up each June/December.
ReplyDeleteI could bump it up to $50/pay and then come December, decrease it to $25/pay again.
I am finding that If my money is committed to somewhere through an automatic debit - i accomplish goals more quickly rather then just trying to allocate 'left over' money.