Starting ASPs for RSPs

I read Robert Brown’s Wealthing Like Rabbits, over the Christmas holidays. For a personal finance book, it was a really easy and quick read. I picked it up because it was recommended on Jessica Moorehouse’s podcast and I really like Brown’s interview.

One of the things I haven’t done in a while is set up RSP ASPs. I used to do this, but in the past few years, I’ve just been throwing chunks of it money once in a while, which is really just making more work for myself than i need.

Since reading the book, I’ve realized I need to restart an ASP at the same time as my biweekly paycheques come in, because it at least allows time for my investments to grow. If my contribution room is approximately $8000 (based on last year’s contribution room), then $8000 divided by 12 months, over two biweekly pay would be about $333. If I transfer it from my chequing account right away, then I also won’t be tempted to think I have lots of money to spend stupidly :/

Thank goodness for Tangerine though. It’s so easy to just click and make it happen!

screen-shot-2017-02-05-at-8-44-34-pm

The only thing I don’t like about the ASP setting within Tangerine is that you can’t make them go to external accounts. I might give them a call to see if I could do this, because it would great to put it in my TD Canada account when I make my car and car insurance payments.

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One thought on “Starting ASPs for RSPs

  1. Pingback: WealthSimple ASP | Stumbling Through My Thirties

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