How to save money in a trades career
(NC) –So you're interested in a career as a machinist, plumber, sheet metal worker, or in another trade. No wonder. The demand for qualified tradespersons is high in Canada, and working in the trades can be a rewarding and financially smart career choice.
Given the equipment needed to do this work, tradespeople may find that it's also expensive to stay current and to have the right tools for the job. Here are some tips to help you save:
• Keep an eye on local flyers or online promotions. Saving even a few dollars by buying a tool on sale may add up when you have several to buy.
• Consider buying second-hand. Take the time to look through your local online second hand sites to see what you can acquire for less.
• Go to www.cra.gc.ca/trades and learn about the tradesperson's tools deduction, which allows a tradesperson to claim a deduction of up to $500 for the cost of qualified tools bought to do their job.
• Keep your tools in good shape. The time it takes to do the upkeep on your tools may seem like a headache, but it will help you save on replacement parts and costs later.
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