2022 is almost over, and 2023 is right around the corner! As the year draws to a close, how do you consolidate your finances? What are the goals that you have set for yourself? Have you been thinking about planning for retirement? Whether you are reassessing where your money has gone in your Canadian private practice, to where you want to spend less or more, or redirect a new stream of income, now is the time to look at the books.  In This Episode: How to save money on transactions  Pick the right credit cards  How to save money when you receive payment  My money tips for new Canadian private practice owners   Have you thought about retirement?  How to save money on transactions   With my business plan, I get 25 transactions for $20 every month. Sometimes I am under that amount, but a lot of times I do make more than 25 transactions, which means that I have to pay extra fees over and above the $20 I already pay.  My business bank advisor and I discovered why I had so many transactions and a simple way to resolve the issue.  Simply and quickly, I was able to change my payment system with Jane App to deposit money into my account every Tuesday, saving me lots of extra monthly fees!  Pick the right credit cards Depending on your lifestyle and work habits, you can pick a different type of credit card that will best suit your spending needs while earning you some great rewards.  For myself, I prefer cash-back credit cards because I don't travel that much, so points are not necessary for me.  My money tips for new Canadian private practice owners  Research the different types of business bank accounts that you can get from Canadian banks to find the one that's the right fit for you  Set up a separate business bank account from your personal one to keep track of different funds and spending  Get a credit card for your Canadian private practice – your accountant will thank you for it too since it will be easier to track spending!  Have you thought about retirement?  Even though I started my Canadian private practice when I was 28, before that, I had completed an undergraduate degree, worked for a few years, and then went back to complete my master's degree. All of that took time, effort, and money.  I prioritised setting up my private practice and getting it launched well and off the ground, thinking that I would save later. Don't get me wrong, I have been putting a little money away each month, but nothing significant yet.  However, throughout the years, I have figured out a plan on how I would save for my retirement. How I plan to save for retirement is to fill up my tax-free savings account (TFSA) account, and then save money in my registered-retirement savings plan (RRSP). Always talk to your back advisor to help you find a retirement plan that is best for your situation! I am committed to putting more money into my BMO SmartFolio retirement fund so that I can retire with peace of mind. Connect with me: Instagram Website  Resources Mentioned and Useful Links:  Ep 51: Lisa Simone Richards: PR Essentials for Canadian Private Practices  Article: How to Set Up a Canadian Private Practice Website  Sign up for my free e-course on How to Start an Online Canadian Private Practice Listen to my episode about building the financial foundation of your Canadian private practice with Linzy Bonham It's easier than ever to invest online. Save time and money by giving BMO SmartFolio a try! Use my code or link below and you'll get $50 cashback, plus up to $1,000 cash-back. It takes as little as 15 minutes to open an account! Code: NMGRY7 Link: https://www.bmo.com/smartfolio/?refid=NMGRY7&ecid=ot-SFRAFSF4-EMAVC26  Rate, review, and subscribe to this podcast on Apple Podcasts, Google Podcasts, Stitcher, Spotify, Amazon, and TuneIn

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