Finding the money to save

Kick-start your savings habit by depositing a small sum into your account. You’ll get a psychological boost knowing that your savings plan has started successfully. Here are some places you may find a little extra cash that’s hiding in plain sight.

• Go through your files and consolidate miscellaneous savings account balances into one account.
• Clean out cluttered closets, the garage or shed, and the attic, and sell unwanted items at a lawn sale or online.
• Take old books, CDs and DVDs to a used book and record store.
• Consider cashing in collections by visiting a dealer that specializes in that area.
• Check for unclaimed balances. Visit the Bank of Canada and search the database of abandoned accounts by entering your name and province.
• Check your files in case you have some of the $112 million in matured and uncashed Canada Savings Bonds existing in Canada. If you find some, call 1-800-665-8650 (for series 1-31) or 1-800-575-5151 (for series 32 and later).
• File your taxes. If you haven’t filed this year’s (or previous years’) income tax return, do so now. You could have a refund owing to you.
• Consider cashing in any unnecessary duplicate insurance policies that have a cash surrender value.