With the reset, I feel that I should start over with some, if not all of the frugal things that I have experience with. Then I can add in new ones that I find. First off, budgeting.
I prefer to call it a Spending Plan instead of Budget, but the truth of the matter is, if I don't have one, I don't do very well over the month. I don't mind if we go over in a particular category, say grocery spending, because even if I do, it saves us money in the Restaurant/Ordering Out category. But, without the Spending Plan mapped out in the first place, I spend all willy-nilly and next thing I know, we're behind in the cable bill again. It's not perfect, and the income minus expenses are at an all time negative right now, but it is my starting point.
I've added up all the debt we owe. It's disgusting. I should be ashamed, and I am somewhat, but I've reset, so it also becomes our starting point. It will get a wee bit worse over the next couple of months while I re-juggle the spending plan and get back to work and whatnot, but it is what it is.
One thing that I found really, really helped us in the past was having a meal plan. I put up an empty weekly dinner sheet on the fridge and get the family to put in requests, or at the very least, help fill the thing in. Then I have a much clearer picture of what I need to buy when I am at the grocery store. I haven't taken an inventory of our cupboards lately, so maybe I'll do that too. Throw out old, outdated stuff that is never going to get used, and see what I can use up to lower the grocery spending this week. I'll definitely need to replenish the freezer meats (we are out of or nearly out of everything), so I will be keeping my lids peeled for deals on meats until we can save up for another freezer meat order.
Upcoming in August:
DD1 has a birthday coming up. I have already decided what I would like to gift her. It should be around $50 so that's not too bad.
DH's brother is getting married. DH is in the wedding party, so there will be a tux rental (ugh) and a gift to be bought for the newlyweds. I'll also have to find something appropriate to wear, like a dress, and we'll have to spend a small amount of money at the reception I suppose.
Then there is back to school shopping. Kids will need new shoes, there will be fees, and probably a few school supplies will be needed. I will have to keep this spending down to as little as possible.
Hockey fees; These are due by the end of the month and I'm just not sure where this money is going to come from.
All of this along with our regular monthly bills, the little bit that we are behind in rent, the amounts we are behind in some of the other bills and the debt. Oh the debt.
I'll have to adjust and readjust the debt payments as I move forward in this, but for now I've started small automatic payments just to get things going in the right direction.
Wish us luck. We're going to need it.
Showing posts with label budgets. Show all posts
Showing posts with label budgets. Show all posts
Saturday, July 30, 2016
Monday, February 4, 2013
Pennies for Thought
A Penny for your Thoughts
Today marks the first official day without our beloved
Canadian penny. As of today, stores will be allowed to round up, or down, for
your cash purchases that have any number other than zero that is two spots to
the right of the decimal point.
The Royal Canadian Mint will no longer distribute pennies as
of February 4, 2013. In phasing out this coin, it is estimated that the
taxpayers will save$11 million dollars per year.
Pennies can still be used in cash transactions however only
with businesses that choose to accept them. Yep, that means if you want to buy
something from your local store, they do not have to take your pennies as
partial payment for your cup of coffee or whatever it is that you are
purchasing.
The Rounding Guideline
The Canadian Government is adopting a rounding guideline
that has been used successfully by other countries that have chosen to phase
out their one cent coin. Final prices that end in a 1, 2, 6 or 7 should be
rounded down to the nearest 5 cents. Prices ending in 3, 4, 8 or 9 should be
rounded up.
But here’s the kicker: retailers do not have to follow this
guideline that is supposed to make things fair for consumers. When you head off
to your local coffee shop or hair salon, they can choose to always round up if
they want. Want to bet most retailers will do just that?
Other methods of payment
When you are using a cheque, debit card or credit card – any
form of payment other than cash – the transaction will not be subject to
rounding guidelines. These types of payments can be settled to the exact amount
and do not need to be rounded.
As a consumer, I suggest that we all need to be vigilant
over the next little while. If you don’t normally pay attention at the cash
register when you are making purchases, now is the time to start. Make sure
that all items are being rung in correctly, and when your final total is
presented to you, ensure that the retailer is not trying to get you to pay more
than you need to. Make a little card to carry in your coin purse or wallet so
you know that totals ending with 1, 2, 6, and 7 round down; totals with 3, 4,
8, and 9 round up. Then write CASH TRANSACTIONS ONLY along the bottom.
How Can This Save Me Money?
If, in a typical month, you make a total of 75 transactions
total, either using cash or another method of payment, you could be paying 0.01
to 0.04 more per purchase if the retailer you deal with always chooses to round
up. Potentially, that could be $3 more out of your budget than you are used to
spending. If your monthly transactions total more than 75, this dollar amount
could be much higher. Now $3 per month doesn’t seem like a lot, but that is $36
dollars per year. Over time, that adds up to a lot of money that was unnecessarily
spent. Wouldn’t you rather keep that money in your pocket?
Sunday, February 3, 2013
Putting the Plan Into Action
Now that I've had some time to internalise everything that has happened last week, I'm ready to start putting our Action Plan into place. Hubby and I have talked and talked about what we can do to keep things on an even keel around here until I find somthing else to bring in an income. The way I figure it, we will have a reduced income until February 28th, and then after that, who knows? There is so much that is unknown and to tell you the truth, I'm a little bit scared. But now is the time to really prioritise what is important to us and what is just 'nice to have'. Even when we had gobs and gobs of debt, I wasn't as willing to let go of things as I am now. Knowing that there is *some* money in the bank to see us through is certainly helping me to sleep at night.
Here's a list of actions I'll be taking to reduce our expenditures:
I'll be going over my invoicing tomorrow to see how much money that I am owed from various companies, as well as making sure that I pay any outstanding invoices from my business. I'd like to get as close to a clean slate as I can, before we start feeling the pinch of living on one income.
Here's a list of actions I'll be taking to reduce our expenditures:
- go to the bank and temporarily stop RRSP, RESP and House downpayment contributions.
- calling cellphone provider and reducing plans to something more affordable.
- make a freezer and cupboard inventory; we need to eat what we have to reduce grocery costs.
- inventory items that can be sold to list on Kijijii and other sites.
- list items on Kijijii; have already started with two.
I'll be going over my invoicing tomorrow to see how much money that I am owed from various companies, as well as making sure that I pay any outstanding invoices from my business. I'd like to get as close to a clean slate as I can, before we start feeling the pinch of living on one income.
Monday, January 21, 2013
Unit Pricing
When you are shopping for the best deals, do you use unit pricing as part of your expense reducing strategy? If not, maybe you should consider it. This strategy alone could save you tons of cash.
What is unit pricing?
When you purchase a case of individual drinks, like a case of pop, or a multi-pack of dry goods, like six boxes of facial tissues, the entire package is a certain price. The cost of one individual can, bottle or tissue would be the unit price.
If a case of 12 boxes of macaroni & cheese is $6.88, the unit price would be ($6.88 / 12 =) $0.573 each. If you are paying $1.25 per single box, you could potentially save $8.12 ( or $0.68 per box).
This type of price comparison is more important when you have two like products but different packaging standards. An example of this would be bottled water. If you want to compare product A which sells water in a case of 15 X 500mL bottles for $0.88 and product B which sells water in a case of 24 (with a bonus of 4 bottles for a total of 28) X 500mL bottles at $2.44.
An individual bottle of Product A would be $0.88 / 15 = $0.058 per 500 mL.
An individual bottle of Product B would be $2.44 / 28 = $0.087 per 500 mL.
Where this really becomes important is when you have coupons. Lets say you had a coupon for Product B, for $1 off the purchase of a case of 24. Firstly, the coupon qualifies for the purchase because the additional four bottles are a bonus from the manufacturer, if they typically do not sell the product in packaging of 28. You would then be purchasing 28 X 500mL bottles for $0.051 each.
Here's the math:
$2.44 - $1 Manufacturer coupon = $1.44 / 28 = $0.051 per 500mL bottle.
When shopping for items that you buy regularly, you should be inputting the Unit Price into your Price Book (you do have a Price Book, don't you) so that you can compare at a glance what seems like a good deal while you're at the store. If the unit price isn't below or near your set point for cost, you know that it's not as good a deal as it is advertised to be.
Over time, using this tool can really help you to reduce your spending. Just remember to actually 'save' your savings. Put the money you don't spend in your savings account, or RRSP where it can actually do some good, instead of just spending that money on something else.
What is unit pricing?
When you purchase a case of individual drinks, like a case of pop, or a multi-pack of dry goods, like six boxes of facial tissues, the entire package is a certain price. The cost of one individual can, bottle or tissue would be the unit price.
If a case of 12 boxes of macaroni & cheese is $6.88, the unit price would be ($6.88 / 12 =) $0.573 each. If you are paying $1.25 per single box, you could potentially save $8.12 ( or $0.68 per box).
This type of price comparison is more important when you have two like products but different packaging standards. An example of this would be bottled water. If you want to compare product A which sells water in a case of 15 X 500mL bottles for $0.88 and product B which sells water in a case of 24 (with a bonus of 4 bottles for a total of 28) X 500mL bottles at $2.44.
An individual bottle of Product A would be $0.88 / 15 = $0.058 per 500 mL.
An individual bottle of Product B would be $2.44 / 28 = $0.087 per 500 mL.
Where this really becomes important is when you have coupons. Lets say you had a coupon for Product B, for $1 off the purchase of a case of 24. Firstly, the coupon qualifies for the purchase because the additional four bottles are a bonus from the manufacturer, if they typically do not sell the product in packaging of 28. You would then be purchasing 28 X 500mL bottles for $0.051 each.
Here's the math:
$2.44 - $1 Manufacturer coupon = $1.44 / 28 = $0.051 per 500mL bottle.
When shopping for items that you buy regularly, you should be inputting the Unit Price into your Price Book (you do have a Price Book, don't you) so that you can compare at a glance what seems like a good deal while you're at the store. If the unit price isn't below or near your set point for cost, you know that it's not as good a deal as it is advertised to be.
Over time, using this tool can really help you to reduce your spending. Just remember to actually 'save' your savings. Put the money you don't spend in your savings account, or RRSP where it can actually do some good, instead of just spending that money on something else.
Sunday, January 20, 2013
A Drive and A Good Talk
Every once in awhile, I have the pleasure of being able to bring Hubby with me to work. I especially love it when we have to go out of town, so I have his undivided attention for a few hours. We usually take this time to reconnect through conversation, and the other day was no different.
I was finally able to tell him my concerns about a work situation. I know that no one has any true security in their job anymore, and I am no exception. Thinking about the very real possibility of job loss, I wanted to talk about what we could and would do if one or both of us were to lose our jobs through no fault of our own.
As much as I love my Hubby, I know that he is a typically pessimistic person and that he usually brings my optimism down a notch or three. So for this conversation, I was not particularly looking forward to having it, nor was I thinking it would be a good one.
I was wrong. (And that does not happen very often.)
Hubby talked about the situations going on at his place of employment, and how it could possibly end up with him having a job loss. Please understand, that since he was 16 years old, Hubby has never been without work for more than a week, so unemployment for any length of time would be a whole different thing for him.
We talked about his options: going back to school for trade specific training, or for a whole new line of work altogether. He said he was willing to take almost any job that paid more than minimum wage, and if necessary, would take a min. wage job too.
We also talked about my options should I become unemployed. I offered a few suggestions of where I might also apply to work to stay in the same field, along with what I could do to increase business should I decide to stay self-employed. If worse came to worse, I would take whatever job I could in order to keep our family afloat.
Things that we could do financially to keep us going were a big part of the conversation. We talked about reducing cable, cellphones, and other variable expenses would be our first line of defense. Preparation was also a main point in the conversation. We agreed that we have been lax in the area of saving up enough money to see us through a rough patch, and have resolved to fix this as best as we can. So on Sunday, I sat down with the budget and financial plan and re prioritised our 2013 goals page. I will sleep better at night once we have at least $1000 each in our Emergency Fund and Emergency Essential Expenses accounts. As for the taxes owing, well, the sooner I get that paid off, the better we will be all the way around. I will be posting occasionally about how we are bumping up these funds and paying off the tax man.
We are no longer burying our heads in the sand. We're thinking like optimists but planning like pessimists.
Have you put any thought into how your family budget would survive a job loss or god forbid, a double job loss? What would you do?
I was finally able to tell him my concerns about a work situation. I know that no one has any true security in their job anymore, and I am no exception. Thinking about the very real possibility of job loss, I wanted to talk about what we could and would do if one or both of us were to lose our jobs through no fault of our own.
As much as I love my Hubby, I know that he is a typically pessimistic person and that he usually brings my optimism down a notch or three. So for this conversation, I was not particularly looking forward to having it, nor was I thinking it would be a good one.
I was wrong. (And that does not happen very often.)
Hubby talked about the situations going on at his place of employment, and how it could possibly end up with him having a job loss. Please understand, that since he was 16 years old, Hubby has never been without work for more than a week, so unemployment for any length of time would be a whole different thing for him.
We talked about his options: going back to school for trade specific training, or for a whole new line of work altogether. He said he was willing to take almost any job that paid more than minimum wage, and if necessary, would take a min. wage job too.
We also talked about my options should I become unemployed. I offered a few suggestions of where I might also apply to work to stay in the same field, along with what I could do to increase business should I decide to stay self-employed. If worse came to worse, I would take whatever job I could in order to keep our family afloat.
Things that we could do financially to keep us going were a big part of the conversation. We talked about reducing cable, cellphones, and other variable expenses would be our first line of defense. Preparation was also a main point in the conversation. We agreed that we have been lax in the area of saving up enough money to see us through a rough patch, and have resolved to fix this as best as we can. So on Sunday, I sat down with the budget and financial plan and re prioritised our 2013 goals page. I will sleep better at night once we have at least $1000 each in our Emergency Fund and Emergency Essential Expenses accounts. As for the taxes owing, well, the sooner I get that paid off, the better we will be all the way around. I will be posting occasionally about how we are bumping up these funds and paying off the tax man.
We are no longer burying our heads in the sand. We're thinking like optimists but planning like pessimists.
Have you put any thought into how your family budget would survive a job loss or god forbid, a double job loss? What would you do?
Tuesday, January 15, 2013
A Phone Call I Don't Want to Make
As you may remember a few short weeks ago, we were able to hit a financial milestone; we became consumer debt free. With things being what they were for bringing in an income, we decided to get a loan for a new vehicle. Some would definitely say this was incurring more consumer debt, and I suppose technically it is. However, my ability to earn an income is dependant on my vehicle of choice, so the decision to do so was a no-brainer for me.
I would love to say we have no debt at all, other than the vehicle, but I would be lying. On one of the side pages, Expected Debt Payoff Dates, you will see that we still have some lingering debt, none of which is considered 'consumer debt'; at least not by us.
First and foremost is the money owing to The Tax Man. I have been having difficulty for the last three years determining how much income tax I will owe because my income fluctuates from year to year. Part of the problem in the beginning was that I never gave any thought that I would owe money, therefore I never saved any to give to the Tax Man. Gosh was that dumb!
Fast forward to yesterday. I get a nice letter in the mail from CRA saying they have tried to contact me with regard to my outstanding balance. (For the record, I haven't had any contact with them No phone calls, no voicemail, just my regular statements in the mail.) It seems that the Tax Man has just about run out of patience, and wants me to make a deal with him to get my taxes paid. Just in time to add on the 2012 taxes owing too. Woo hoo, am I excited! (If you didn't catch the sarcasm there.....)
I know that when I do call them, they will want me to commit to a repayment plan that will have all outstanding debt paid off in 12 months. Truthfully, I have absolutely no idea how I'm going to manage adding an additional $1000 per month payment to my already difficult budget. I don't know how to even incorporate an additional $500 payment to our budget. I guess its time to go back to the basics, look over the budget, and trim, trim, trim. I'll have to put every extra dollar not already earmarked for something toward this debt. The alternative is rather scary, to say the least. Do you have any idea what CRA can do to someone when the demand their money? It sure ain't pretty, I'll tell you.
I will call them and see what we can figure out. Hopefully, they will take it easy on me until I can get this mess sorted out.
I would love to say we have no debt at all, other than the vehicle, but I would be lying. On one of the side pages, Expected Debt Payoff Dates, you will see that we still have some lingering debt, none of which is considered 'consumer debt'; at least not by us.
First and foremost is the money owing to The Tax Man. I have been having difficulty for the last three years determining how much income tax I will owe because my income fluctuates from year to year. Part of the problem in the beginning was that I never gave any thought that I would owe money, therefore I never saved any to give to the Tax Man. Gosh was that dumb!
Fast forward to yesterday. I get a nice letter in the mail from CRA saying they have tried to contact me with regard to my outstanding balance. (For the record, I haven't had any contact with them No phone calls, no voicemail, just my regular statements in the mail.) It seems that the Tax Man has just about run out of patience, and wants me to make a deal with him to get my taxes paid. Just in time to add on the 2012 taxes owing too. Woo hoo, am I excited! (If you didn't catch the sarcasm there.....)
I know that when I do call them, they will want me to commit to a repayment plan that will have all outstanding debt paid off in 12 months. Truthfully, I have absolutely no idea how I'm going to manage adding an additional $1000 per month payment to my already difficult budget. I don't know how to even incorporate an additional $500 payment to our budget. I guess its time to go back to the basics, look over the budget, and trim, trim, trim. I'll have to put every extra dollar not already earmarked for something toward this debt. The alternative is rather scary, to say the least. Do you have any idea what CRA can do to someone when the demand their money? It sure ain't pretty, I'll tell you.
I will call them and see what we can figure out. Hopefully, they will take it easy on me until I can get this mess sorted out.
Sunday, December 9, 2012
About the New Van
If you read my December mini-goals post, you'll have noticed that we bought a new van. Brand new. Less than 50 km on the odometer when we drove it off the lot. The 2013 model. Really, really new.
So here's the breakdown.
The total price of the van before financing, but after trade-in allowance, deposit and discounts, including taxes and assorted fees, was $31,775.25.
It is financed at 4.9% per annum over a period of 96 months. The total cost to borrow is $6104.43.
That leaves the total amount to be paid as $37,880.64.
We had to sign that we would be making monthly payments of just under $400 ($394.59 to be exact) but really want to split that into bi-weekly payments of $200. We can do this, but have to wait until after the first monthly payment has been made.
The good news is, the loan agreement does not have any sort of penalty for paying the loan off early or for making any additional payments over the life of the loan.
With the current/original repayment schedule, it will be fully paid for in November of the year 2020. I'm so not OK with that.
If we put an extra $600 per year (that's $50 per month) toward the loan, we can have it paid off in November of 2019, which is 12 months early.
If we pay an extra $1200 per year (or $100 per month) toward the loan, we can have it paid off in February of 2019, which is 22 months early.
Hubby and I will be spending the next couple of weeks figuring out how and when we will be paying down the loan faster than the original schedule. I know that paying it bi-weekly will also pay it down faster, but I'm not sure how to calculate that. Can some one recommend an online calculator that can do that? Now that I've had a taste of being consumer debt-free, I want to be back there.
My reasoning for incurring new debt is because a van is necessary for producing an income for me. My justification (rightfully or wrongly) is that the difference in fuel costs alone should be enough to meet the new payments. I still have to find out what the difference in insurance costs will be.
After the end of this month, I will be setting aside $1000 (already budgeted for) as a buffer in the account that the payment will be coming out of. That way, if we are having a difficult month (or two) we have enough already set aside to meet our obligation. I cannot see this happening, but one never knows, right?
So here's the breakdown.
The total price of the van before financing, but after trade-in allowance, deposit and discounts, including taxes and assorted fees, was $31,775.25.
It is financed at 4.9% per annum over a period of 96 months. The total cost to borrow is $6104.43.
That leaves the total amount to be paid as $37,880.64.
We had to sign that we would be making monthly payments of just under $400 ($394.59 to be exact) but really want to split that into bi-weekly payments of $200. We can do this, but have to wait until after the first monthly payment has been made.
The good news is, the loan agreement does not have any sort of penalty for paying the loan off early or for making any additional payments over the life of the loan.
With the current/original repayment schedule, it will be fully paid for in November of the year 2020. I'm so not OK with that.
If we put an extra $600 per year (that's $50 per month) toward the loan, we can have it paid off in November of 2019, which is 12 months early.
If we pay an extra $1200 per year (or $100 per month) toward the loan, we can have it paid off in February of 2019, which is 22 months early.
Hubby and I will be spending the next couple of weeks figuring out how and when we will be paying down the loan faster than the original schedule. I know that paying it bi-weekly will also pay it down faster, but I'm not sure how to calculate that. Can some one recommend an online calculator that can do that? Now that I've had a taste of being consumer debt-free, I want to be back there.
My reasoning for incurring new debt is because a van is necessary for producing an income for me. My justification (rightfully or wrongly) is that the difference in fuel costs alone should be enough to meet the new payments. I still have to find out what the difference in insurance costs will be.
After the end of this month, I will be setting aside $1000 (already budgeted for) as a buffer in the account that the payment will be coming out of. That way, if we are having a difficult month (or two) we have enough already set aside to meet our obligation. I cannot see this happening, but one never knows, right?
Tuesday, December 4, 2012
December Mini-Goals
Here are some things I'd like to accomplish financially to round out 2012.
December Mini-Goals, 2012
Notes:
Do you have any goals for December?
December Mini-Goals, 2012
- Add $279.50 to any one of my RRSP accounts. This will round up my contributions for the year to a full $1200.
- Add $100 to the Emergency fund. Slow and steady wins the race.
- Add $50 to the Emergency Essential Expenses Account.
- Set aside $400 for the new van payment.
- Pay $200 toward Income Tax owing.
- Get $1000 RSP loan from bank.
- Open TFSA account at CIBC for accelerating van payments and adding to house down payment fund.
- Get credit report and score so that I can do yearly update.
- Add DD2's account to my 'bill list' to do online transfers for her savings account.
- Pay off $79 owing on credit card by due date, Dec. 20/12.
Notes:
- Must keep adding to my RRSP. I have no company pension available to me when I will be ready to retire, so I have to do this for future me.
- I can focus on the emergency Fund now with other things off my plate now.
- This is our 'Life Backup Plan' if Hubby or I were to lose a steady source of income. It needs to have a lot more money in it.
- Yes, we bought a new van. It's pretty, and beautiful, and shiny and new. And expensive. And necessary. No regrets.
- I will get this bill down every month and pay it off. I'm aiming for 2013 year end.
- For credit history improvement purposes. I know I can borrow this amount and pay off within a year. :)
- Already done. :)
- In the works.
- Need to do this so I can transfer her monthly allowance to her own account.
- Start the new year off without any CC debt. :)
Do you have any goals for December?
Thursday, May 17, 2012
Coming Back and New Goals
I have missed the blogging community greatly. I felt like I was part of something, and then I was missing out on the friendship and sharing. But it had to be done. I had so much to say, but I was under wraps for awhile (self-imposed). I know me. I have trouble keeping my mouth shut, lol. But now, I can talk a little more freely about what has been happening.
The big news is that the company I work for has opened an office location right here in London. I'm still working part-time hours, and if all goes well, I should be out from under my probationary period in the next week or so. This will enable me to serve my client families more efficiently.
My goals for working with this company are to become a full-time employee, to gain status as a managing director, and eventually be able to 'buy-in' as silent ( Ha- who am I kidding? I'm never silent!) partner for this location.
In anticipation of major changes ahead in the next few years, I'm forging forward with personal and financial goals also.
Toward the beginning of the year, I opened yet another RRSP account at my bank. I put a small deposit in, and left it be. No further deposits to date. After thinking about it for a time, I realised that I could use this account as my 'Home Down payment Fund'. Using the Home Buyers Plan, I can 'borrow' my own money from my RRSP, up to $25,000 toward the purchase of a home. Meanwhile, any deposits I make will count toward my RRSP contributions for that year, giving me a small break on the amount of tax I will owe.
Still with me this far? Good.
I will still have to 'pay that money back', but since it's mine, there won't be any outrageous interest fees associated with it (at least none that I am aware of). Just a repayment schedule that the government defines.
So off to the bank I went, and signed a paper to say that they could take $25 per pay out of my chequing and put into the 'House RRSP Fund'. I know it will take me a hundred years or so to save up a down payment at that rate, but it's a starting point, ya know?
Seeing as I've hit the big 4-0, I've been thinking lots and lots about where my life is headed, where I am right now, and where I want to be in the future. I want to have a home of our very own, however modest it may be. I want to have money in the bank should the day ever come that I want to semi-retire. (I'm pretty sure if I ever fully retire, it will be due to health reasons only.) I'm putting away money to help partially pay for my kids post-secondary educations. Our debt is almost gone...Can you say U-RAH to that!!!! We've finally gotten that consumer debt monster down to something manageable.
On the other side of the coin, it looks like we will be shopping for a newer vehicle this year. Well, we have been looking for awhile, and I have absolutely nothing saved up for a new van, but we will need to replace it I think. A van is vital to my employment, so hopefully we can get a good deal on a 1 or 2 year old used one. I'm hoping for a Dodge Grand Caravan with Stow-N-Go seating, but we will see. I will not be taking out another 7 year long, $28,000 car loan, that's for sure.
One of these days, I will get around to updating my reading list. I've read a ton of books over the last little while, which has certainly helped my keep my shopping habit under control. Speaking of shopping, I'm working at the couponing again to keep our grocery costs down with budget limits. I think this is the first May in the last 5 years that we have stuff in the pantry, cupboards and freezer and I don't feel like an unfit parent. I'm anticipating what we will need over a given period and stocking up (not extreme couponer style) some of the things that we regularly use when its on sale.
I'm feeling good about life these days. I hope it lasts.
What are you feeling good about today?
The big news is that the company I work for has opened an office location right here in London. I'm still working part-time hours, and if all goes well, I should be out from under my probationary period in the next week or so. This will enable me to serve my client families more efficiently.
My goals for working with this company are to become a full-time employee, to gain status as a managing director, and eventually be able to 'buy-in' as silent ( Ha- who am I kidding? I'm never silent!) partner for this location.
In anticipation of major changes ahead in the next few years, I'm forging forward with personal and financial goals also.
Toward the beginning of the year, I opened yet another RRSP account at my bank. I put a small deposit in, and left it be. No further deposits to date. After thinking about it for a time, I realised that I could use this account as my 'Home Down payment Fund'. Using the Home Buyers Plan, I can 'borrow' my own money from my RRSP, up to $25,000 toward the purchase of a home. Meanwhile, any deposits I make will count toward my RRSP contributions for that year, giving me a small break on the amount of tax I will owe.
Still with me this far? Good.
I will still have to 'pay that money back', but since it's mine, there won't be any outrageous interest fees associated with it (at least none that I am aware of). Just a repayment schedule that the government defines.
So off to the bank I went, and signed a paper to say that they could take $25 per pay out of my chequing and put into the 'House RRSP Fund'. I know it will take me a hundred years or so to save up a down payment at that rate, but it's a starting point, ya know?
Seeing as I've hit the big 4-0, I've been thinking lots and lots about where my life is headed, where I am right now, and where I want to be in the future. I want to have a home of our very own, however modest it may be. I want to have money in the bank should the day ever come that I want to semi-retire. (I'm pretty sure if I ever fully retire, it will be due to health reasons only.) I'm putting away money to help partially pay for my kids post-secondary educations. Our debt is almost gone...Can you say U-RAH to that!!!! We've finally gotten that consumer debt monster down to something manageable.
On the other side of the coin, it looks like we will be shopping for a newer vehicle this year. Well, we have been looking for awhile, and I have absolutely nothing saved up for a new van, but we will need to replace it I think. A van is vital to my employment, so hopefully we can get a good deal on a 1 or 2 year old used one. I'm hoping for a Dodge Grand Caravan with Stow-N-Go seating, but we will see. I will not be taking out another 7 year long, $28,000 car loan, that's for sure.
One of these days, I will get around to updating my reading list. I've read a ton of books over the last little while, which has certainly helped my keep my shopping habit under control. Speaking of shopping, I'm working at the couponing again to keep our grocery costs down with budget limits. I think this is the first May in the last 5 years that we have stuff in the pantry, cupboards and freezer and I don't feel like an unfit parent. I'm anticipating what we will need over a given period and stocking up (not extreme couponer style) some of the things that we regularly use when its on sale.
I'm feeling good about life these days. I hope it lasts.
What are you feeling good about today?
Tuesday, March 27, 2012
A Promise Kept to Myself
It wasn't all that long ago when I sat down with mounds of paperwork to do the preparation for my taxes. I had to call in some help (my sister) because the task was just too overwhelming. When it was finally all finished, I ended up filing several months past the date that they were due. My procrastination cost me hundreds of dollars in late fees to the government. I promised myself that I would not let that happen ever again.
In Canada, anyone who files a business tax return has until June 15th each year to file. I usually consider this my deadline, but this year, I'm taking a different approach. This past year, I think that my income from all sources may have surpassed Hubby's income. Some of our deductions go to the lower income earner in the household, so this year it will be more of a surprise to see if it will go to me or to Hubby.
I learned some things during last years tax difficulty. I need to keep thing separated by month and not just by category. Doing this somehow makes it easier for the tax preparer. It also makes it easier for me to compare with annual numbers from past years, and to make some budgeting predictions for the coming year.
This activity will takes a few hours each day over several days to complete. Then I go over everything one final time, just so I don't miss anything. This task usually involves a lot of swearing, coffee drinking and chocolate eating to get me through it. But this year, I have healthy snacks at the ready, and the coffee pot full.
Wish me luck! (If you don't hear from me in the next couple of days, that will be because I'm buried under a pile of paperwork.)
In Canada, anyone who files a business tax return has until June 15th each year to file. I usually consider this my deadline, but this year, I'm taking a different approach. This past year, I think that my income from all sources may have surpassed Hubby's income. Some of our deductions go to the lower income earner in the household, so this year it will be more of a surprise to see if it will go to me or to Hubby.
I learned some things during last years tax difficulty. I need to keep thing separated by month and not just by category. Doing this somehow makes it easier for the tax preparer. It also makes it easier for me to compare with annual numbers from past years, and to make some budgeting predictions for the coming year.
This activity will takes a few hours each day over several days to complete. Then I go over everything one final time, just so I don't miss anything. This task usually involves a lot of swearing, coffee drinking and chocolate eating to get me through it. But this year, I have healthy snacks at the ready, and the coffee pot full.
Wish me luck! (If you don't hear from me in the next couple of days, that will be because I'm buried under a pile of paperwork.)
Saturday, March 10, 2012
I'm Still Here
I haven't been posting very much lately, but I wanted to let you all know I'm still here and doing OK. It's been a bit of an adjustment the past couple of weeks 'going to work' everyday. Then Cub got sick. Nothing major, but he needed his Mommy. Then Hubby was 'on vacation' from his regular job for a week. I loved having him around everyday,and in a much better mood too! It reminds me why I work so hard, and so many hours - so I can earn enough money that he can give up the job from that horrible place. Next week, I have DD2 home for March Break all week, and Cub will be home Thursday & Friday. Next Saturday is Cub's 4th birthday and we're going out for lunch.
I really struggled with the 'budget' for the new paycheque. I figured out how much I am getting paid every two weeks ($686.73) and how to break that down for the four piles of money. Every other week, I will be putting $70 into the Emergency Fund, $ 68.75 into Planned Spending/LTS, which leaves me $547.98 for Cash Flow. Out of the CF, $ 482.85 will go to pay rent which will leave me with a whopping $ 65 for everything else - groceries, fuel, bills, etc.
I have to be honest - this very first paycheque, I treated myself. I went clothes shopping. After I set aside all the amounts that I have to set aside, I went to Talize for some work shirts. Being the size that I am, most women's clothes don't really fit right, so I headed for the men's section. I bought 6 short sleeved shirts (collars and buttons down the front), 1 vest, and 1 long sleeved shirt. I also bought 2 work out videos on VHS and a CD for Hubby. I paid a total of $34.23 for all of it. Oh, how I love thrift stores! We also went to an outlet store this week to see if I could find a new suit for me. Well, I found 2 that fit reasonably well (the pants will have to be hemmed though) and looked decent. That store was having a 'sales event' so I paid $144.47 for two matching suit jackets and pants. Ouch! I don't regret it though, as the suits will likely last me for at least 3 years.
My stock up item for the week was bodywash. I hate running out of bodywash and I so dislike using soap. We typically only use Ivory Bodywash, because it doesn't leave a flowery scent on your skin which is important to Hubby because of his allergy to bee stings. Flowery scented stuff tends to attract bees, and he could very well die if he's stung a couple of times. I would rather not take the risk. I haven't seen that brand of bodywash on sale for a good price in a long time, so when I saw it itn the No Frills flyer for $2.99 for the 705 mL bottle, I knew I'd be buying several. I was going to buy 12 of them, but seeing as there was only 12 on the shelf, I only took 8. I don't want to be the 'shelf clearing' kind of buyer. I also managed to snag a good 'sale' on Pull-Ups this week for Cub. ( Good lord, isn't that kid potty-trained already?!) I had an email coupon from Shopper's for $10 off the purchase of $50 or more, and the larger packs of Pull-Ups were marked down from $27.99 to $19.99. I bought 3 ( after going to the 3rd store to find them), used my coupon and paid only $52.97. One of the stores that didn't have any on the shelves gave me a raincheck for two packs. The raincheck is good for 30 days, so its like extending the sale for me. :)
I'm hoping to get the paperwork together to file our taxes this week. I still have lots to do in that department, but with only DD2 home this week, I should be able to take a big chunk out of the preparatory work. Cross your fingers for me!
Today's agenda includes grocery shopping, laundry, making bread, and cleaning the kitchen. I don't know how much of that will get done, but I'm going to give it the old college try.
Enjoy your weekend everyone, and don't forget, clocks go forward one hour on Sunday.
I really struggled with the 'budget' for the new paycheque. I figured out how much I am getting paid every two weeks ($686.73) and how to break that down for the four piles of money. Every other week, I will be putting $70 into the Emergency Fund, $ 68.75 into Planned Spending/LTS, which leaves me $547.98 for Cash Flow. Out of the CF, $ 482.85 will go to pay rent which will leave me with a whopping $ 65 for everything else - groceries, fuel, bills, etc.
I have to be honest - this very first paycheque, I treated myself. I went clothes shopping. After I set aside all the amounts that I have to set aside, I went to Talize for some work shirts. Being the size that I am, most women's clothes don't really fit right, so I headed for the men's section. I bought 6 short sleeved shirts (collars and buttons down the front), 1 vest, and 1 long sleeved shirt. I also bought 2 work out videos on VHS and a CD for Hubby. I paid a total of $34.23 for all of it. Oh, how I love thrift stores! We also went to an outlet store this week to see if I could find a new suit for me. Well, I found 2 that fit reasonably well (the pants will have to be hemmed though) and looked decent. That store was having a 'sales event' so I paid $144.47 for two matching suit jackets and pants. Ouch! I don't regret it though, as the suits will likely last me for at least 3 years.
My stock up item for the week was bodywash. I hate running out of bodywash and I so dislike using soap. We typically only use Ivory Bodywash, because it doesn't leave a flowery scent on your skin which is important to Hubby because of his allergy to bee stings. Flowery scented stuff tends to attract bees, and he could very well die if he's stung a couple of times. I would rather not take the risk. I haven't seen that brand of bodywash on sale for a good price in a long time, so when I saw it itn the No Frills flyer for $2.99 for the 705 mL bottle, I knew I'd be buying several. I was going to buy 12 of them, but seeing as there was only 12 on the shelf, I only took 8. I don't want to be the 'shelf clearing' kind of buyer. I also managed to snag a good 'sale' on Pull-Ups this week for Cub. ( Good lord, isn't that kid potty-trained already?!) I had an email coupon from Shopper's for $10 off the purchase of $50 or more, and the larger packs of Pull-Ups were marked down from $27.99 to $19.99. I bought 3 ( after going to the 3rd store to find them), used my coupon and paid only $52.97. One of the stores that didn't have any on the shelves gave me a raincheck for two packs. The raincheck is good for 30 days, so its like extending the sale for me. :)
I'm hoping to get the paperwork together to file our taxes this week. I still have lots to do in that department, but with only DD2 home this week, I should be able to take a big chunk out of the preparatory work. Cross your fingers for me!
Today's agenda includes grocery shopping, laundry, making bread, and cleaning the kitchen. I don't know how much of that will get done, but I'm going to give it the old college try.
Enjoy your weekend everyone, and don't forget, clocks go forward one hour on Sunday.
Friday, December 30, 2011
Are You Talking To Me?
" You cannot save $10,000 until you have $1,000. You cannot save $1,000 until you save $100. You cannot save $100 until you save $10. Getting from where you are now to where you want to be requires that you do something differently. Do you have the guts to change?" - Gail Vaz - Oxlade
I was flipping through Debt Free Forever to find the answer to a question posed by Sam. In just reading a couple of paragraphs, I was amazed at the amount of inspiration I was getting by reading just a wee little bit. I always hear her voice in my head when I'm reading something she has written, so that part didn't surprise me.
What did surprise me was that it felt like an epiphany. Gail was reaching through the internet, via Sam's question, that made me grab her book so she could speak directly to me.
And I hear you loud and clear, Gail!
In two days time, I will begin a new chapter of my Life Journey, that starts with some of my most ambitious savings and financials goals of my life. (See page entitled 2012 financial Goals.) To truly focus on putting together all the skills I have acquired in the past couple of years, and to focus on attaining my goals. To have some money to retire on one day. To have some money to give my kids when they venture off to college. To find some balance in my life, financial and otherwise.
Here's to the first $1 of the first $10 of the first $100 of the second $1,000 of my first $10,000. Here's to taking control of my money and my life.
I was flipping through Debt Free Forever to find the answer to a question posed by Sam. In just reading a couple of paragraphs, I was amazed at the amount of inspiration I was getting by reading just a wee little bit. I always hear her voice in my head when I'm reading something she has written, so that part didn't surprise me.
What did surprise me was that it felt like an epiphany. Gail was reaching through the internet, via Sam's question, that made me grab her book so she could speak directly to me.
And I hear you loud and clear, Gail!
In two days time, I will begin a new chapter of my Life Journey, that starts with some of my most ambitious savings and financials goals of my life. (See page entitled 2012 financial Goals.) To truly focus on putting together all the skills I have acquired in the past couple of years, and to focus on attaining my goals. To have some money to retire on one day. To have some money to give my kids when they venture off to college. To find some balance in my life, financial and otherwise.
Here's to the first $1 of the first $10 of the first $100 of the second $1,000 of my first $10,000. Here's to taking control of my money and my life.
My Focus in 2012: Living Within Our Means
Gail posted a great article found here that can help you determine if you are living within your means. Some of her benchmarks are as follows:
For the most part, I'd like to think that we live within our means, but when gauged by someone else's measuring stick, maybe not so much. So I think what I need to do is to define 'Living Within Our Means' for our family. You know, the personal in personal finance.
I've set some financial goals for 2012. I would love to be completely out of debt in the next 12 months, but that is highly unlikely. I'd love to have saved up enough to buy a newer used vehicle, and to take my family to Disney World next winter, but I'm pretty sure that's out of reach too. Maybe if I can just make through to next Christmas with having put some money in my RRSP and being able to keep current on our bills, that will have made me feel like I've accomplished something.
- Are you saving 10% of your net income?
- Are the balances on your credit cards or lines of credit rising?
- Are you missing payments on bills?
- Are you taking cash advances on your credit cards?
For the most part, I'd like to think that we live within our means, but when gauged by someone else's measuring stick, maybe not so much. So I think what I need to do is to define 'Living Within Our Means' for our family. You know, the personal in personal finance.
I've set some financial goals for 2012. I would love to be completely out of debt in the next 12 months, but that is highly unlikely. I'd love to have saved up enough to buy a newer used vehicle, and to take my family to Disney World next winter, but I'm pretty sure that's out of reach too. Maybe if I can just make through to next Christmas with having put some money in my RRSP and being able to keep current on our bills, that will have made me feel like I've accomplished something.
Thursday, December 15, 2011
My RRSP Strategy for 2012
A couple of weeks ago, I mentioned that I was looking at the idea of a RRSP Catch up Loan to assist me with some tax benefits. I received a comment that they were a very, very bad idea. I'm not one to jump to conclusions, so I took this under advisement and did some research. Of course, I turned to Gail's blog.
Borrowing more money while you still have debt is never a good idea. Borrowing money to invest for the long term has some benefits, but not enough for me to consider it at this point.
Borrowing more money while you still have debt is never a good idea. Borrowing money to invest for the long term has some benefits, but not enough for me to consider it at this point.
Borrowing to contribute to an RRSP only makes sense if you’re in the highest tax bracket AND you can pay off the loan within one year WHILE making monthly contributions to your current year’s RRSP. ~ Gail
So what's a gal to do? I get that borrowing the twenty something thousand dollars in contribution room I have available is not really an option for. Sure, I could borrow it and pay it back within a year, but my cash flow will take a huge hit, and I just can't live like that, nor can I expect my family to.
Taking on too much debt for the sake of some other objective is a sure way to mess up your cash flow and rob you of sleep. ~ Gail
I value my sleep too much. I don't do enough of it as it is. The sense of peace I have knowing that I am doing the best I can financially is not something I'm willing to give up either.
The most important part of my financial well being is to find balance. Saving for the long term takes time and discipline. Time I have. Discipline, not so much. But I'm getting better.
If you want to catch up your RRSP unused contribution room, trim back on your expenses or make enough extra money to sock away what you want. Don’t borrow it. ~ Gail
Oddly enough, I can hear her voice saying this directly to me. It's like she's right here in the room with me, telling me not to be a dummy, and that there is a better way to do this.
On Gail's advice, I will not be taking out an RRSP loan, catch-up or otherwise. My goal for 2012 will be to put $2500 into my RRSP, or $208 per month. That's the maximum amount of loan repayment monthly that I would be comfortable making. OK, maybe a little outside my comfort zone, but whatever. If for some crazy reason I am unable to make that 'loan' payment in a given month, my credit history won't go to hell in a hand basket and I won't be getting any nasty phone calls from the bank. It would mean that I would just have to deposit that much more the following month. I'll have no interest costs with this method, and all my money will be working for me right from the get go.
I feel like I'm behind the eight ball with my retirement contributions. I may very well be. But if I don't start somewhere, I will never be able to retire, and that is just not an option. With how much I've contributed to CPP as a self-employed person, and no pension to speak of, when I'm 65, I'll be eligible for about $32 per month. Lol!
Aim to set aside 10% of your net income every year until you retire. ~ Gail
The thing with RRSPs is that they market them to make you feel like you aren't contributing enough, and that without the help of financial institutions, you have no hope in hell of ever accumulating the astronomical cash projections that they say you need to have. This puts people in one of two mindsets. They either fall for the hype and take out 20 year RRSP loans without ever really getting ahead, or they give up hope of ever retiring comfortably, and choose to ignore the situation.
I'm choosing neither. I will forge my own path, by making contributions on my own schedule that will take into account that my income fluctuates greatly. I have goal number in mind for 2012, and I will make sure I hit that goal at all costs. I'm working on all our financial goals for 2012, so adding this in will be another part of the budgeting process for us.
What's your retirement savings strategy? Do you have RRSPs or have you ever used a RRSP catch up loan? I'd love to hear about your experiences with this.
Thursday, December 1, 2011
Month End Report
I didn't do this last month because I was in such a depression over our finances. It hasn't been, nor still is pretty, but we are slowly figuring it out. Here are the numbers.
TFSA/ EEE Account $41.71 (down $418.83)
Xmas Fund/Car Fund $50.02 (down $1553.70)
RRSP Savings Acct. $160.07 ( up $52.88)
Vacations Account $4.01 (down $44.64)
RRSP MF Acct. $1,757.93 (up $70.18)
RESP MF Acct. $1,529.47 (up $157.72)
Emergency Fund Account $24.51 (up $15.57)
House Fund $10.04 (up $5.01)
Biz Savings/5 Categories $50.90 (down $78.17)
Canada Savings Bonds $1,745.00 (up $140.00)
B's Savings Acct. $19.69 (down $39.41)
$5 Bill Laptop Fund $0 postponing this for now
Personal Loan: $6,120.50, up $465.00
MBNA Card (27.98%): $1,063.16, down $150.57
Capital One Card (19.8%): $2,809.19, down $138.96
CIBC Visa (19.99%): $346.70, new account
Overdraft 1: $621.32,down $27.26
Overdraft 2: $396.99, up $396.99
Tax Owing: $9,692.82, up $6,501.56 (correct as of Nov.21st)
Our current total Debt owing: $21,050.68
Total Debt owed January 1, 2011: $23,861.01
Difference since January 1, 2011: $ 2,810.33
Difference since last report: + $ 7,393.46
YIKES!
That is a huge difference in only 60 days, but we knew it was coming. The reality is, in the past I have not been setting money aside for tax obligations, and now it is catching up with me. I have incurred more debt by means of a new credit card (to start rebuilding my credit), using my overdraft again (I know, not good at all), and reborrowing from the 'personal loan'. All the work we have done to pay down and off our debt has come to a screaching halt. It looks as though all we have paid off in 11 months is a mere $2,800. But we are determined now more than ever, to see this thing through.
In the last 60 days, I have cut back on the household spending, cancelled services, stopped pre-authorised withdrawals for RRSP & RESP (until our cashflow can handle it again), and reduced the daycare expense. In the coming week, I will try to reduce our cellphone bill (again) and pledge to put something into each of the savings pots.
Our expenses for December far outweigh our income, so we will absolutely do our best to pay what we can and make a gameplan for 2012. We are considering RRSP catch up loans. I will talk more about that in an upcoming post.
So that's it in a nutshell. It isn't pretty, but it's all ours. ;)
TFSA/ EEE Account $41.71 (down $418.83)
Xmas Fund/Car Fund $50.02 (down $1553.70)
RRSP Savings Acct. $160.07 ( up $52.88)
Vacations Account $4.01 (down $44.64)
RRSP MF Acct. $1,757.93 (up $70.18)
RESP MF Acct. $1,529.47 (up $157.72)
Emergency Fund Account $24.51 (up $15.57)
House Fund $10.04 (up $5.01)
Biz Savings/5 Categories $50.90 (down $78.17)
Canada Savings Bonds $1,745.00 (up $140.00)
B's Savings Acct. $19.69 (down $39.41)
$5 Bill Laptop Fund $0 postponing this for now
Personal Loan: $6,120.50, up $465.00
MBNA Card (27.98%): $1,063.16, down $150.57
Capital One Card (19.8%): $2,809.19, down $138.96
CIBC Visa (19.99%): $346.70, new account
Overdraft 1: $621.32,down $27.26
Overdraft 2: $396.99, up $396.99
Tax Owing: $9,692.82, up $6,501.56 (correct as of Nov.21st)
Our current total Debt owing: $21,050.68
Total Debt owed January 1, 2011: $23,861.01
Difference since January 1, 2011: $ 2,810.33
Difference since last report: + $ 7,393.46
YIKES!
That is a huge difference in only 60 days, but we knew it was coming. The reality is, in the past I have not been setting money aside for tax obligations, and now it is catching up with me. I have incurred more debt by means of a new credit card (to start rebuilding my credit), using my overdraft again (I know, not good at all), and reborrowing from the 'personal loan'. All the work we have done to pay down and off our debt has come to a screaching halt. It looks as though all we have paid off in 11 months is a mere $2,800. But we are determined now more than ever, to see this thing through.
In the last 60 days, I have cut back on the household spending, cancelled services, stopped pre-authorised withdrawals for RRSP & RESP (until our cashflow can handle it again), and reduced the daycare expense. In the coming week, I will try to reduce our cellphone bill (again) and pledge to put something into each of the savings pots.
Our expenses for December far outweigh our income, so we will absolutely do our best to pay what we can and make a gameplan for 2012. We are considering RRSP catch up loans. I will talk more about that in an upcoming post.
So that's it in a nutshell. It isn't pretty, but it's all ours. ;)
Friday, October 28, 2011
Happy Friday
" Even if you are on the right track, you'll get run over if you just sit there." - Will Rogers
There has been lots going on in my head, and with me in general.
I cleaned out the freezers and took some time to do some stocking up on items that we will use for the next few months. Here are my purchases over the last couple of days:
1x Sirloin Tip Roast, $ 11.66
1x Package Ground Beef, $11.06
8x 1 lb Unsalted Butter, $23.04
2x McCain Frozen Cream Pies, $2.58
1x 10 lb bag potatoes, $1.88
3x 1L Oasis 100% juice, $2.97
3x Pillsbury Apple Turnovers, $6.00
8x Dr. Oetker Frozen Pizzas, $24.00
4x Knorr Rice/Pasta Mixes, 4.00
1 each chicken & beef bullion cubes, $3.00
3x Glad Cling Wrap, $3.00
3x Oatmeal Crisp Triple Berry Cereal, $9.00
2x Pillsbury Crescent Rolls, $3.74
2 lb bag Macintosh Apples, $2.00
3x 90-100 count bagged frozen cooked shrimp, $9.00
There was a lot more, but I don't want to bore you with the details. However, I'm not done with the shopping just yet.
Tomorrow and Sunday, Shopper's Drug Mart is having a 'Spend Your Points Event' , where you get additional dollar amounts in free purchase if you redeem your points over 50,000.
I've combined their sales items from the flyer, along with redeeming 50,000 of my accumulated points. If I've done my math correctly, I will get $100.99 (before taxes) of products for $14.12.
I like to think of it as my version of Extreme Couponing, without the actual coupons, lol!
Products purchased will be:
4 x 2kg bags of sugar @ $1.99 each
4 x Life Brand 2-roll paper towels @ $0.49 each
4 x 24 roll Royale Toilet Tissue @ $5.99 each
2 x Oral B Children's Toothpaste @ $1.88 each
2 x Herbal Essences hair care @ 2/$5.00 each
4 x Vim Cream Cleanser @ $0.99 each
1 x Aleve Tablets @ 9.99
1 x 4 pk Tic Tacs @ $3.49
1 x 320 count Pampers Baby Wipes @ $9.99
2 x Sunsilk shampoo (with free 355 ml conditioner) @ 3.99 each
2 x Balea 2-in-1 Kids Shampoo/Bodywash @ 3.99 each
1 x Trident gum, 4 pack $2.99
2 x Pringles Chips @ 1.99 each
This will give me a head start on some of the stocking stuffers that I typically buy for Christmas, along with a few things to stock up on.
I'm hoping that this weeks shopping excursions will help to lower our costs overall for grocery spending and planned holiday spending.
Have you been shopping this week?
There has been lots going on in my head, and with me in general.
I cleaned out the freezers and took some time to do some stocking up on items that we will use for the next few months. Here are my purchases over the last couple of days:
1x Sirloin Tip Roast, $ 11.66
1x Package Ground Beef, $11.06
8x 1 lb Unsalted Butter, $23.04
2x McCain Frozen Cream Pies, $2.58
1x 10 lb bag potatoes, $1.88
3x 1L Oasis 100% juice, $2.97
3x Pillsbury Apple Turnovers, $6.00
8x Dr. Oetker Frozen Pizzas, $24.00
4x Knorr Rice/Pasta Mixes, 4.00
1 each chicken & beef bullion cubes, $3.00
3x Glad Cling Wrap, $3.00
3x Oatmeal Crisp Triple Berry Cereal, $9.00
2x Pillsbury Crescent Rolls, $3.74
2 lb bag Macintosh Apples, $2.00
3x 90-100 count bagged frozen cooked shrimp, $9.00
There was a lot more, but I don't want to bore you with the details. However, I'm not done with the shopping just yet.
Tomorrow and Sunday, Shopper's Drug Mart is having a 'Spend Your Points Event' , where you get additional dollar amounts in free purchase if you redeem your points over 50,000.
I've combined their sales items from the flyer, along with redeeming 50,000 of my accumulated points. If I've done my math correctly, I will get $100.99 (before taxes) of products for $14.12.
I like to think of it as my version of Extreme Couponing, without the actual coupons, lol!
Products purchased will be:
4 x 2kg bags of sugar @ $1.99 each
4 x Life Brand 2-roll paper towels @ $0.49 each
4 x 24 roll Royale Toilet Tissue @ $5.99 each
2 x Oral B Children's Toothpaste @ $1.88 each
2 x Herbal Essences hair care @ 2/$5.00 each
4 x Vim Cream Cleanser @ $0.99 each
1 x Aleve Tablets @ 9.99
1 x 4 pk Tic Tacs @ $3.49
1 x 320 count Pampers Baby Wipes @ $9.99
2 x Sunsilk shampoo (with free 355 ml conditioner) @ 3.99 each
2 x Balea 2-in-1 Kids Shampoo/Bodywash @ 3.99 each
1 x Trident gum, 4 pack $2.99
2 x Pringles Chips @ 1.99 each
This will give me a head start on some of the stocking stuffers that I typically buy for Christmas, along with a few things to stock up on.
I'm hoping that this weeks shopping excursions will help to lower our costs overall for grocery spending and planned holiday spending.
Have you been shopping this week?
Tuesday, October 4, 2011
My Top 10 Checklist
Thanks to Carla over at My Half Dozen Daily ( who attributes her post to Momof2 at Abundance: Frugality, Food, Fitness and Fun ), I have also decided to make my own Top 10 Checklist.
The idea is to make a list of ten things that are important for you to do every day. Write them down, and then check them off as you go along.
At first I thought, "Oh, I'll just write down the top ten things I need to do today" and then I realised after rereading both articles, that the list should be things you need or want to do everyday. Thinking about it while writing my list really shows what I value and where my priorities are.
My Top Ten Checklist
And this post means I can cross off one thing on that list today. ;)
The idea is to make a list of ten things that are important for you to do every day. Write them down, and then check them off as you go along.
At first I thought, "Oh, I'll just write down the top ten things I need to do today" and then I realised after rereading both articles, that the list should be things you need or want to do everyday. Thinking about it while writing my list really shows what I value and where my priorities are.
My Top Ten Checklist
- Write a blog post, a letter, a thank you note, or a section of my story. Writing everyday is something I love doing.
- Have my 5-A-Day. Smoothies make this much easier but I need to keep this a priority if I ever expect to lose any weight.
- Clean for 1/2 hour. I can break this into two fifteen minute intervals if need be.
- Do 1 load of laundry. We go through lots of clothing, and the mountain never seems to get any smaller. I have to keep up on this, and this is a good way to do so.
- Spend 1 hour a day making or creating something. (Knitting, plastic canvas, candles, etc.)
- Spend 1 hour daily on business paperwork. This should keep me caught up.
- Make dinner from scratch.
- Exercise for 1/2 hour; Walking outside in nice weather or doing at least one circuit of my DVD.
- Spend 1/2 hour on budget/spending or finances. Must. keep. costs. down.
- Spend time with members of my family, either individually or together. I love spending time with these people, so I will continue to show them that they are a huge priority in my life.
And this post means I can cross off one thing on that list today. ;)
Tuesday, September 27, 2011
Sometimes I Just HAVE To Run The Numbers
Capital One sent me my monthly statement. I received it in the mail today.
I looked it over and thought, I cannot wait until this will be paid off in 14 months!
Then I remembered, I've been paying more than the minimum payment, with a couple of lump sum amounts thrown in here and there. I wonder when this puppy will be gone.
I ran the numbers at a Credit Card Payment Calculator.
If I only pay the minimum amounts, it will take 4 years and 2 months to be rid of this thing. Not bloody likely!
If I continue to pay $150.00 per month, it will take 2 years and 1 month for it to disappear. Better, but still crappy.
If I pay $200 per month, it will be gone in 1 year and 6 months. Better still, but not quite on my timeline.
So I sat down with a pencil, paper and calculator and did the numbers and payment amounts that I can live with.
Barring any unforeseen complications, I should be able to beat this into submission in exactly 14 payments.
Not ahead of the schedule that I had already figured out, but still on my timeline. Maybe, just maybe, I can find an extra dollar or two to add to my payments along the way.
I'm still on track, and that is just fine with me. :)
P.S.: I tried to run the numbers on Hubby's single remaining credit card, the MBNA. I know what the annual interest rate is, but I cannot for the life of me figure out how they get the monthly interest amount. I read all the fine print on the front and back, but still can't get numbers that match. Any suggestions? For the record, his interest rate is is a ridiculous 27.98%. The balance was $1481.37 and the interest amount charged was $32.44. Can anyone help me please?
I looked it over and thought, I cannot wait until this will be paid off in 14 months!
Then I remembered, I've been paying more than the minimum payment, with a couple of lump sum amounts thrown in here and there. I wonder when this puppy will be gone.
I ran the numbers at a Credit Card Payment Calculator.
If I only pay the minimum amounts, it will take 4 years and 2 months to be rid of this thing. Not bloody likely!
If I continue to pay $150.00 per month, it will take 2 years and 1 month for it to disappear. Better, but still crappy.
If I pay $200 per month, it will be gone in 1 year and 6 months. Better still, but not quite on my timeline.
So I sat down with a pencil, paper and calculator and did the numbers and payment amounts that I can live with.
Barring any unforeseen complications, I should be able to beat this into submission in exactly 14 payments.
Not ahead of the schedule that I had already figured out, but still on my timeline. Maybe, just maybe, I can find an extra dollar or two to add to my payments along the way.
I'm still on track, and that is just fine with me. :)
P.S.: I tried to run the numbers on Hubby's single remaining credit card, the MBNA. I know what the annual interest rate is, but I cannot for the life of me figure out how they get the monthly interest amount. I read all the fine print on the front and back, but still can't get numbers that match. Any suggestions? For the record, his interest rate is is a ridiculous 27.98%. The balance was $1481.37 and the interest amount charged was $32.44. Can anyone help me please?
Friday, September 2, 2011
A Matter of Choice(s)
Thanks to Makky's Mom, I felt compelled to post about the choices that we all have with regard to our own wishes for our funerals.
Basically, you have two options: Cremation or Earth Burial.
Here's a list of things you need to think about with regard to both options.
Burial:
Typical caskets are constructed from wood or metal. Cremation containers can vary from cardboard to the most elaborate wood casket you can find.
You need to think about if you want a service of any kind. This can range from no service of any kind, a memorial service with or without casket/urn present, to a full traditional-type funeral service with visitation.
Your casket can be buried in the ground, or put in a mausoleum. Both can be costly.
Your cremated remains can be put in an urn, and kept by family members for private disposition. Or you can have them buried, put into a niche in a columbarium, or scatter them in a certain area within some cemeteries.
Cemetery property can be expensive, even if you are only buying one plot for cremated remains in an urn.
I am only aware of one Green Cemetery in Canada, located somewhere in British Columbia. This page can provide you with more information.
Biodegradable caskets come in all shapes, sizes and differing construction materials.
So do Urns. Here are some examples.
Taking an example of a friend of mine, even with choosing lower cost options, they are looking at $1800 for cremation and professional services, $1900 for one plot, $400 for an Urn, and $7000 for a monument. Add in about $850 for a memorial service, and $600 for a cheap-o reception, they are looking at a total cost of about $15,000 for two people.
There are so many choices to be made. Funeral service or cremation. Which cemetery? Burial or scattering? Embalming or no embalming? To have a visitation (viewing) or not? Should there be flowers? Memorial donations? Which Funeral Home to involve?
Consider this. Most funerals/cremations are paid for by way of a funeral/insurance plan, life insurance proceeds, and on a credit card.
A Credit Card?!?!
Yep. A credit card. Lots of folks have credit limits that could swallow the cost of an entire funeral service, with, excuse the term, all the bells and whistles. Most funeral service establishments require some type of deposit before services are rendered. Anywhere from 50% of the total and up.
Would creating a Funeral Fund seem morbid to all you PF-ers out there?
I'd rather be morbid than have my spouse or kids put my casket on their credit card, and end up paying it off for the next 30 years, with interest.
What say you, readers? Have you ever even given your final wishes any thought?
Note: After I wrote this post, I found an interesting article on cremation. Of course, it doesn't cover every last detail, it will give you a good idea of what to think about. http://blog.yourmoney.ca/2011/08/cremation-costs.html
Basically, you have two options: Cremation or Earth Burial.
Here's a list of things you need to think about with regard to both options.
Burial:
- casket type
- service details
- cemetery property
- monument (headstone)
- reception after service
- container/casket type
- service or memorial details
- type of urn
- what to do with the cremated remains after all is said and done
- reception after service memorial
Typical caskets are constructed from wood or metal. Cremation containers can vary from cardboard to the most elaborate wood casket you can find.
You need to think about if you want a service of any kind. This can range from no service of any kind, a memorial service with or without casket/urn present, to a full traditional-type funeral service with visitation.
Your casket can be buried in the ground, or put in a mausoleum. Both can be costly.
Your cremated remains can be put in an urn, and kept by family members for private disposition. Or you can have them buried, put into a niche in a columbarium, or scatter them in a certain area within some cemeteries.
Cemetery property can be expensive, even if you are only buying one plot for cremated remains in an urn.
I am only aware of one Green Cemetery in Canada, located somewhere in British Columbia. This page can provide you with more information.
Biodegradable caskets come in all shapes, sizes and differing construction materials.
So do Urns. Here are some examples.
Taking an example of a friend of mine, even with choosing lower cost options, they are looking at $1800 for cremation and professional services, $1900 for one plot, $400 for an Urn, and $7000 for a monument. Add in about $850 for a memorial service, and $600 for a cheap-o reception, they are looking at a total cost of about $15,000 for two people.
There are so many choices to be made. Funeral service or cremation. Which cemetery? Burial or scattering? Embalming or no embalming? To have a visitation (viewing) or not? Should there be flowers? Memorial donations? Which Funeral Home to involve?
Consider this. Most funerals/cremations are paid for by way of a funeral/insurance plan, life insurance proceeds, and on a credit card.
A Credit Card?!?!
Yep. A credit card. Lots of folks have credit limits that could swallow the cost of an entire funeral service, with, excuse the term, all the bells and whistles. Most funeral service establishments require some type of deposit before services are rendered. Anywhere from 50% of the total and up.
Would creating a Funeral Fund seem morbid to all you PF-ers out there?
I'd rather be morbid than have my spouse or kids put my casket on their credit card, and end up paying it off for the next 30 years, with interest.
What say you, readers? Have you ever even given your final wishes any thought?
Note: After I wrote this post, I found an interesting article on cremation. Of course, it doesn't cover every last detail, it will give you a good idea of what to think about. http://blog.yourmoney.ca/2011/08/cremation-costs.html
Thursday, September 1, 2011
September Goals
First, I'd like to go over last month's goals.
1. Deposit the remaining $347.29 needed into the Emergency Fund. Check!
2. Put $500 into the rent account to start paying back the loan. 313/500
3. Spend the vacation money we have taken out, and to spend it without regret or guilt. Check!
4. Put any leftovers from vacation into rent account. No leftovers to add. :(
5. To earn $500 total from all side gigs. Check!
6. Draft some blog posts and see if they will actually post while I am away on vacation. Check!
4 out of 6 isn't bad, I guess.
September goals:
At least we aren't using any credit cards. :)
1. Deposit the remaining $347.29 needed into the Emergency Fund. Check!
2. Put $500 into the rent account to start paying back the loan. 313/500
3. Spend the vacation money we have taken out, and to spend it without regret or guilt. Check!
4. Put any leftovers from vacation into rent account. No leftovers to add. :(
5. To earn $500 total from all side gigs. Check!
6. Draft some blog posts and see if they will actually post while I am away on vacation. Check!
4 out of 6 isn't bad, I guess.
September goals:
- $75 for the pager; this will pay up the account until June 1/12
- Continue making small-ish deposits to Emergency fund, EEE Account, House fund, Vacation fund, car fund, and laptop fund.
- Start 2 new funds for Business Equipment and Dental Work.
- Our Insurances are coming due. Pay off #1 & #2.
- Catch up with all paperwork for business. o_O
At least we aren't using any credit cards. :)
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