In this video, the focus is on the importance of saving for the future. The host introduces the concept of paying yourself first, which means putting money into a savings account regularly, just as you would pay a bill.

Even when money is tight, there are ways to cut expenses and save money instead. For example, buying a takeout lunch might cost about $10 a day. Bringing lunch from home could lead to a saving of $2,500 a year.

The host discusses reasons why people need to save, including to buy things they want, like a house or a car; to be prepared for unexpected expenses; or to cushion the blow of a job loss.

In addition, she explains the importance of saving for retirement, using examples to show that starting early can pay big dividends.

This video tutorial is part of a series prepared for Credit Education Week Canada (CEWC), held annually to promote sound personal money management. For more information, click here: http://www.cewc.ca.