I’ve probably said something like this before, but homemade gifts can save money and can also end up being much better gifts at Christmas time than store bought.
This year if time permits, consider finding an elderly person who knows how to knit, crochet, wood work, sew or who has some other skill to teach you how to come up with gift ideas for those you love. You will end up giving a super gift and give someone who may be lonely the gift of your time.
Insurance is an important thing. Once you buy a house or have people dependant upon you, it might not be a bad idea to go out looking for insurance. There are different types of insurance.
Here are just some of them:
- Life Insurance (For if you die),
- Short Term Disability (In case you get disabled for a short period of time),
- Long Term Disability (The name is self explanatory)
- Mortgage Insurance (To pay off your mortgage in case of death)
Just don’t get too much or else you may have to sleep with one eye open if you live with the beneficiary.
Old light fixtures and bad toilets can cost a lot of money. When you start paying your own utilities you start to realize how much a leaky toilet can cost. When my wife and I bought our house we changed one of our toilets a year or so after buying the house. Our water bill went down $40. $40 a month is $480 a year. $480 in your pocket is a lot better than $480 literally down the drain.
At my office I am currently changing my lighting to LEDs. This will cut my hydro bill down 30-40%. That could be about $400-$600 a year. The new lights may cost me very little between negotiating with my landlords and applying for government hydro rebates. $400 in my pocket is a lot better than $400.00 being wasted on bad light bulbs. Plus the light looks better since they are brighter. I’ll be able to see myself better in the mirror now.
Oooh. Maybe that’s a bad thing.
Business is growing and I gather going in the right direction.
We have moved to a new unit in the building. We are now across the hall where the hair salon used to be.
45 Stanley St. Unit #203
If you don’t like finances, but like sports think of your personal finances in terms of a sports team.
When you make money, think of it like playing offence. The offence is the part of your finance that makes you money. Your job or business would be your offence, going out into the world to bring in money.
When you save money and spend less, think of it as like playing defence. You’re doing everything you can to save money and not let any money get out of your possession. (Like holding onto the ball)
You’re playing good offence when you get an extra job, get a raise, or work more hours.
You’re playing good defence when you say no to buying something you don’t need, and by saying no to salespeople trying to play offence on your wallet!
A wise man once said, “Where your money, is there your heart shall be.” If your heart does indeed follow your money, than it makes sense that if you hide money and spending from your partner, then your heart really isn’t in the relationship. Or vice versa. Financial infidelity is extremely damaging to a relationship while on the flip side when you have the same values as a couple it can be very good for the relationship. And if you find that your partner is hiding things from you, then you have a good indication as to whether or not their heart is truly with you.
My wife and I have been very blessed in that we rarely disagree when it comes to money. We both tend to save and analyze our purchases before we buy things, and we like to be charitable so we tend not to argue much about it.
Best to discuss your finances before you get too serious and always look to where their money goes, because you’re likely to find that, that is exactly where their affections lie.
Love & Money – Part #1
They say most couples fight about Money & Sex. I’m not about to give out any sex advice just yet, but I have lots to share about money.
When my wife and I first got married we agreed that other than gas and groceries, we wouldn’t buy anything over a certain amount without consulting the other first. It forces you to discipline yourselves to work as a couple instead of making financial decisions alone.
It’s best to not buy the item if the other says no. If you disagree than you discuss it later and reassess. Our rule was that if the other said no, then the purchase would not be made. It’s not what most people want to hear, but it works if you’re willing to have integrity and work at it.
The act of saying no to yourself when you really want something is a real act of love. What’s more important the relationship or that trinket you just have to have?
Kill two birds with one stone. If you’re like me and you have some extra poundage to lose, go on a diet. In doing so, you will lose weight and save money at the same time. Last month my wife and I saved an extra $260 from our grocery budget on top of what we saved by budgeting less than we spent on groceries last year. Since I’ve been eating less I’ve been buying much less food.
My strategy for staying full longer has been to eat oatmeal in the morning for breakfast. At Costco you can buy about 1 to 2 months of instant oatmeal for around $12.00. That’s $6 for a whole month! I eat 1 cup of oatmeal in the morning mixed with 1tsp of honey and 1tsp of either natural almond butter or natural peanut butter.
The result is less pounds and more money! $260.00 saved! I’m not sure how many pounds I’ve lost yet, because I haven’t weighed in since Jan 1, but my pants and my wallet feel great!
Have you ever heard of the debt snowball?
If you have multiple debts or credit cards, it’s a great method to get out of debt.
Here’s how it works.
1 – Start budgeting, and spend less than you make.
2 – Make the minimum payment amounts on your cards except for the debt with the lowest balance. That one, you pay off as fast as you can.
3 – Once you pay off the smallest debt, start using the amount you were paying on the smallest debt to the next smallest debt.
4 – Once you pay off the first two, use both monthly payment amounts to tackle the next. (Snowball)
5 – Keep doing this until all your debts are paid off.
By paying off the smaller debts first you get a boost of motivation that will wear off if you tackle the largest debt first.
Paying off debt is more about behaviour than math. Change your behaviour, change your results!
January 4, 2017
This time of year is often known for New Year’s Resolutions. I love New Years Resolutions. I often try a couple each year. I don’t always meet my goals, but I do move ahead in certain areas of my life. I take the “Shoot for the Stars and you just might land on the Moon” approach. (which may be quoted backwards, but it works for me)
Try to set a big goal and if you move in the right direction at least you’re bettering yourself.
Here’s a suggestion of a strategy to accomplish a financial goal.
Get a 2017 calendar and give yourself an X on the calendar every time you go a whole day without spending money. Then challenge yourself to get a certain amount of X’s per month. After a couple months, provided you don’t binge shop, you’ll probably find that you are in a much better financial situation.