Tuesday, September 1, 2015

Keep or return? Talula Camdale pant in darkness/oak from Aritzia

Talula Camdale Pant in Darkness/Oak
purchased online from Aritzia
 I can count on one hand the number of items I own from Aritzia, though my younger sister is a big fan. It really has more to do with the fact that they style behind the clothing line never really suits my taste in that it tends to lean more towards boho chic.

And then there's the price that is normally associated with said items. Aritzia is a freaking expensive brand to be buying distressed jean shorts from.

But I came across these Camdale Pants while searching for a decent pair of 'tweed-ish' grey dress pants with a loose, tapered leg that I can roll up. And I will admit, it didn't take me that long to whip out the credit card to buy them because the look on the model was more or less what I was looking for when it came to a summer/fall transitional piece.

Saturday, August 29, 2015

Returning from hiatus and another rethink

So I'm back after about four months now... surprise?

Honestly, it happens. Particularly with me. In some ways, I get super over-eager about posting "regularly" and I end up burning myself out. And that's not  just with blogging. I do that with a lot of things.

So I needed the break too. But during the time off, I got rethinking this blog and what it's for. 

It's called "Life. Living. Blogging" more because my last one was particularly niche as far as topic matter and I wanted to get away from that for a blog title. But as I spent more time focusing on my money, the more I tired of talking about that and just that. And I yearned for my old blog where I was able to discuss just about everything and anything, from clothing and subsequent purchases (at least discussion of it without feeling needlessly guilty about the 'money I wasted'), the sports I love and still love (although my job mostly satisfies these needs, so I generally I can avoid it), the things I do, the books I read, just the more general flavour I liked.

And in any case, I shift a lot when it comes to the things that occupies my time and thoughts. And it isn't always about the money.

So I decided, I'm going to go back in that direction into a more general 'lifestyle' blog, and therefore better live up to this name I picked here, rather than just a finance blog I was trying to be, but really wasn't much good with nor very eager for after awhile.

And I'll probably just dial back on the overall need to blog. Because I don't need to blog everyday, or every other day, or whatever crazy schedule I had set out in my brain for my posts. I just need to write, and post and be.

And keep on telling stories above all else.

Monday, June 1, 2015

Recap: Spending and saving in May 2015

So I've been pretty quiet this month in this blog. But it's less because this month was a quiet month as opposed to I was overcome with a strong sense of 'I would like to waste my time doing something else' in May.

I will additionally admit that my slow as hell recovery from appendicitis also played a role in my return to normalcy in general.

So... May. A month where not much has happened due to the aforementioned illness and therefore I spent most of it just going to work or laying low at home. That had its own consequences but on the other side, it also meant that there's very little as a whole to report.


SPENDING: Shockingly, I was actually completely under-budget for the month when everything was all said and done. That is to say, I planned to spend "X" dollars on bills and discretionary spending this month and I happily went about $40 beneath it. And that's with having to pay an extra $50 into my rent for the air conditioner I wanted to install.

And yet with that said, I blew up my food budget to kingdom come yet again due to the excessive laziness that was borne out of my lack of energy to really do any home cooking. How much did I blow it by? About $50. So... yeah. There's that. And it has led me to consider possibly changing a few things in my budget. But more on that later.

Overall at least, the spending was mostly kept in check by me being a homebody most of the month and I kept out of trouble in all other areas of my budget. So really I don't have that much to complain about as far as where my money went and how for this month.


INCOME: The good news is that I lost zero dollars due to April's illness. The bad news is that I didn't make a whole lot of extra money for the month of May.

My income amounted to me getting one freelance cheque at just under $200 for May and that was it for the extra cash. Everything else I made was my base salary from work and that's it. No overtime included. Blech.

So yeah, I really didn't do a whole lot on this front. Luckily I made a ton the previous month and as I had all that extra money from April more or less unaccounted for, I dipped into that extra to pay into some of the things that needed to be paid into.

For instance...


DEBT REPAYMENT: As I was a little short on the $200 extra I expected to earn each month, I admit that some of last month's extra was dipped into this month to cover the cost of paying that self imposed minimum payment to my credit card. Which was fine as it would have either gone to debt repayment or my savings anyway. And this scenario is exactly why I paid extra into the credit card when I could prior to it. Even if the interest rate is a tiny 0.99%.

As for the student loans, I just managed to go over the minimum required amount required to contribute to my student loan debt monthly by also dipping into the extra I was sitting on from the previous month to the tune of $80.

So all in all, pretty normal and routine for the month as far as debt repayment goes. I mean, no lie, I would have preferred to have been able to put more money in this general direction as a whole, but again, I only had so much to work from and for what it was worth, didn't do too shabby in making the best of it as it were.


SAVINGS: This month was all about getting myself some well rounded numbers in my savings account. So any account that was treading a few dollars away from being over a hundred as opposed to beneath it meant that I threw a couple extra dollars on top of the planned savings I already had in place.

This meant that I ended up setting aside $60 dollars more than I originally planned. And before you ask where I got the money, the answer is, I made a lot of extra money last month on overtime that I didn't allocate, that's how.



NET WORTH: $-24,282.75 (+4.18%)


I really can't complain here. Sure I didn't hit the $1,250 a month I kind of need to make it to the $15,000 net worth I'm aiming towards, but all things considered, I'm not upset about not making it either because I at least made it to that bare minimum $1,000 I do want to make. So there's that.

But I'm pretty well ahead at this moment on my goal, and with a very very busy June on its way thanks to some extra work coming up this month, some overtime and a triple paycheque July, I'm all set to hopefully make the money I need to hit my ultimate goal. At the very least, I seem to be moving in the right direction.

Friday, May 22, 2015

My appendicitis story

All appendicitises are not born or created equally, nor do people respond to it the same way. That was something I learned and realized since coming down with it myself. Because while surviving my encounter, I still managed to pull one hell of a jackpot when it came to my appendicitis.

And not the good kind of jackpot either.


We've all done it when going through abdominal pain. Every time your stomach area hurts for longer than 10 minutes, you wonder if it is appendicitis, aka a worst case scenario. And then you wonder if it had already burst, and thoughts float in your head about having to go to the emergency room, having surgery, being in hospital. Hell, all of the above has occurred to me at least once a year.

And then five minutes later, the pain turns out to be gas.




They say all problems begin when things begin like any other day, and so it was for me in that it was a late shift at work that day, and me preparing for it. The only thing that was a little bit abnormal was that I was feeling some minor discomfort in my abdominal region. But in my mind, I didn't chalk it up to being abnormal because I was on my period and cramping for me is fairly normal as is some bloating. So I took some pain killers as I've been doing for the last three days and eventually forgot about it.

At least I did until I was about an hour into my shift. The pain by then had spiked unexpectedly and uncomfortably. But again I discounted it. I decided that maybe it's my cramps plus hunger that made it worse, given that I had not eaten much that day. So I bought a sandwich for dinner, popped another painkiller and went about my usual way.

However, this time, the pain didn't go away. And the longer I sat at my desk, the worse it was getting.

It was around 10PM that night. That was about when I really realized that the pain was no longer cramping but something else. Sitting was painful, with the pain from my stomach radiated throughout my body. I realized my heart was beating faster than it normally does for me and that my breathing was more rapid. And while there was no fever, but I was starting to feel a heavy feeling in my stomach, a feeling I usually only feel right before nausea and vomiting begins to set in.

And yes, I worried that it may be said worst case scenario. But at the same time, I dreaded the thought of going to an emergency room.

In most ERs, people coming in with an unexplained pain in the stomach region are the bane of doctors and nurses everywhere, not just because sometimes it's people overreacting and it's really nothing, but also because something could be wrong, but the pain could be caused by just about anything that happens to sit in that area, which outside of your heart, lungs and brain, is every major organ in your body.

Half the time, they give you some painkillers, do some tests and then tell you they don't know what is wrong and send you home. But of course, not before making you wait an hour in the main waiting room, another two hours in the emergency waiting room, three more hours for a test and then another two to three hours for them to tell you nothing is wrong, essentially wasting your day on something you could have done from home: nothing.

The lower the priority they believe you to be, the longer they make you wait in lieu of "real emergencies." And people coming in with "stomach pain" are usually not something that would make a nurse or doctor to rush treatment.


As a person with a low tolerance for waiting around, I wasn't keen about the idea of going into a hospital for what could be nothing. And plus, after speaking to my healthcare professional younger sister about the issues, she advised against entering the emergency room until after 24 hours of constant pain due to general ambiguity of the symptoms.

So there's that.

The pain never did fade. In fact, it got worse. Finally at about midnight with my pain threshold nearly reached, my tolerance fading and, according to my co-workers, me looking sicker every moment, I went home early. I took a cab, mostly because I wasn't terribly keen on walking much or dealing with the rigours or the one hour it takes to ride public transport at that point.

Good thing too. Because almost as soon as I entered my home 20 minutes later, I vomited up pretty much a day's worth of food. And so began one of the longest nights of my life.

The pain I was feeling is really hard to describe, especially nearly a month after the fact. I've seen it compared to labour online, and have actually used that exact comparison myself to my mother. But it remains hard to quantify in general just because of how extreme it was. The pain was persistent and ever-present. It never faded, never went away and between that and the bloating, only ever got worse.

It was my ever present companion set to make you the most miserable human being on the planet. And nothing, no painkiller, hot water or even a bag of ice could make it go away.

I mean, I've broken a wrist, a full displacement no less. That pain barely exists compared to what I went through with appendicitis, mostly because the nerves went into shock and shut down in the broken region and all I initially had to deal with is the numb realization that "oh, I have a bone sticking up where it shouldn't so something must be wrong..." Even after the swelling set into the wrist, the pain was an inconvenience as opposed to something that made you wish you were dead.

It's 8AM, not quite 24 hours since initially noticing the pain, but barely past 12 hours of feeling it constantly. I've slept maybe three hours by then, mostly due to exhaustion and only in spurts, ran three hot baths, vomited twice more and contemplated if I had all my beneficiaries correctly set up in the event I die at least once. I knew I was dehydrated, but I could barely get through a sip of cold water before the nausea hit me.

I had enough of the suffering by then. Actually, I had enough of the suffering at about midnight but had at the time thought I could wait it out. And yet, even after a night of it not going away, I still was hesitant to go to an emergency room for fear of wasting my time.

But when I called up TransHealth and relayed the symptoms to them, they told me not to drink or eat anything and take thee straight to the nearest hospital emergency room pronto. Apparently that was all the external confirmation I needed. An hour later after painstakingly getting dressed and gathering some things, I was in a taxi riding to the hospital.

I can't lie to you. I still ended up waiting around a lot. Even though the pain was to a point where I couldn't even sit in the seats in the emergency waiting rooms and therefore had resorted to lying on the ground instead, which needless to say didn't really impress any nurse that saw me.


They drew blood after the initial hour-long wait and sent it to testing. But testing kind of takes time. Which meant I was on the floor of the emergency waiting room for some two hours or so before they moved me to a room of sorts to be examined by the doctor following the results of said test. Which amounted to him telling me my white blood cell count was extremely high and that I was being sent to ultrasound.

"Yep, it's likely appendicitis then," texted my sister after I told her what the blood test produced.

Great. I guess I am living out my worst case scenario, I thought, without realizing how much of a treat I was really in for.

At least the doctor had by then put me on fluids, morphine and gravol though, which helped everything from the pain, dehydration and nausea that was literally flooring me at that point. Well, it helped with the nausea and the dehydration. The pain was still there... though dulled enough where I could kind of sit in a chair.

Another hour and a half waiting for the ultrasound appointment then followed, in a chair this time, which did give me time to call my dad and tell him not to freak out (Note: he still ended up freaking out). Then the ultrasound where they spent most of their time jabbing their tools into the most painful region on my body despite the morphine. Then another hour long wait in the ultrasound waiting room for the results. Then another 45 minute wait in emergency for the doctor before I spoke with the doctor again at 4PM.

At this point, I've been in hospital for seven hours.

His verdict? Possible appendicitis. They couldn't confirm it, mostly because they couldn't actually find my appendix in the ultrasound to confirm inflammation or what have you. But I must have checked off enough of the boxes for the diagnosis regardless because I was immediately put on antibiotics, given a hospital bed and put in for a surgical consultation that night.

Meanwhile, either the morphine wore off or something was going wrong because the pain came back twofold. In came more morphine, after the antibiotics anyway. And then it was back to more waiting.

At around 8PM the surgical team came to give me a choice: we can either confirm the appendicitis with a CT scan or just go straight into surgery with the possibility that it may not be appendicitis.

I went with whatever would get rid of the pain quicker: surgery. Because all a CT scan would do is make me wait until the next day if surgery is needed, and I had enough of waiting. By then my sister was there for support and to this day I was thankful for her presence because she handled all the paperwork for insurance, medical history, everything while I was curled up in the bed barely able to function outside of moaning and signing my name on some dotted lines.

Have you ever been asked to rate your pain on a scale of 1-10? For that entire day, I'd been rating it between a 7-9 when I was asked how bad the pain was.

At 9PM, I discovered what my 10 threshold felt like. And this was while I was on a mophine drip at the time. Basically I was done and so was my body. When they finally rolled me into surgery at 10PM that evening, I begged them to put me under right away so that I could escape the agony. Because at that point, 13 hours after I admitted myself, I almost preferred to have been dead.



In the words of my doctor's the next day, "Yep, it was appendicitis." Preceded by one of his residents pipping in that it was "half-gangrenous" when they found it. Which is something everyone loves to hear about when in a hospital bed in the morning.

As it turned out, "appendicitis" didn't even begin to describe how bad I was that day.

Yes, my appendix burst. My sister figures it had popped before I went into ultrasound due to the report stating they saw fluid movement in the area. Which meant it had popped less than 24 hours after I initially realized something wasn't right.

It was also a little more than 'half-gangrenous.' It was green, purple and fully dead when they found it with no amount of antibiotics able to save it from its fate. It was also so badly inflamed that that was the reason why the ultrasound couldn't find my appendix. According to my surgeon, it had swelled so large that they had mistaken it for a part of my bowels. Most appendixes swell to a size of about a centimetre when inflamed. Mine had ballooned to a size that was a bit larger than that.

As for the extreme amount of pain I was feeling leading up to surgery, apparently it was peritonitis. As it turned out, it wasn't enough that my appendix was rotting, inflamed and perforated that day. It went straight for the good stuff and angered the lining of my abdominal wall, to the point that my surgeon said that it was red and inflamed when they went in. Luckily, it was limited to around my appendix and did not spread, but to be honest, being told I had peritonitis freaked me out given that I had attributed it to an end stage thing that only happens before you die.

Add in the three days post-operatively where I suffered from sepsis with a high fever, an elevated heart rate and non-functioning bowels as a result of surgery, leading to me being stuck in hospital for five days... Basically I had filled in pretty much all the squares in the appendicitis bingo card, minus having an abscess and, you know, death.


There are tonnes of appendicitis stories out there, and why wouldn't there be? Approximately one in 12 people will come down with it at some point in their life. But they aren't all made the same way, and everyone reacts and responds differently when suffering from it. Some catch it early enough that with antibiotics, they don't even need the surgery. Some people, like Ryan Callahan of the Tampa Bay Lightning, get to it early enough where the recovery time is relatively tiny due to the efficiency of laparoscopic surgery (which was the kind I got).

And there was me, the one who pulled one of the world's unluckiest cards by not only ending up with a ruptured appendix, but being hit with every major complication afterward.

Monday, May 4, 2015

Recap: Spending and savings in April 2015

So April was an... interesting month.

Between getting my tax refund and then me getting acute appendicitis halfway through the month that basically knocked me out of commission from life and living (and spending) for two-plus weeks, (it is almost three weeks since I went down and I'm still struggling to get my life back in order) my money has gone to interesting places and my spending has gone down interesting routes.

And I managed to save a lot of it.

Presently though, I'm still trying to figure out how all of the major events that happened in April (particularly the part where I nearly died... to exaggerate some things) will affect me and my money long and short term going forward. Even now, a couple of days into May, the big picture of just how this event affected me is still somewhat fuzzy.

Or maybe I just think it's still fuzzy because my head is still feeling the effects of the meds I'm on.



INCOME: This month's income was... well it was big. Like, a lot of money went through my bank account this month.

For starters, my regular income from work was larger than normal because I got some holiday pay plus overtime pay from the previous month in both biweekly cheques. This amounted to close to an extra $400 made total, which was a huge boon for me and my money during a time when I was curled up in a ball in my bed for two weeks.

That is to say, I haven't yet figured out what the hell I want to do with that extra money because I haven't been able to really look at where I am money-wise, so I don't know whether to prioritize paying down debt or squirreling it away.

Then there were a slew of freelance cheques totaling close to $450 for work I did in March that came in during April. I did previously figure out most of that money before I got sick so most of that gave my savings accounts a nice fat boost where I can.

And then there's the GST/HST cheque from the government for around $100 and a dividend payment of around $4. That was split between debt and savings.

All of the above would have made for a great month of income for me all on its own. In fact, on its own it would have been one of my most profitable months so far this year.


However, as you well know as I've told you many times since, I also got a huge sum back from my tax refund this year, which basically put me way way way over the top as far as money earned went this month.

How over the top? By keeping my costs pretty much the same as I spend month-over-month, all that extra money I earned allowed me to increase my net worth by nearly the equivalent of what I increased it by from the first quarter of the year, or three months.

This one month is equivalent to three months worth of savings and debt repayment for me. I don't know about you, but that is HUGE.


DEBT REPAYMENT: Collecting on my big, fat tax refund from the government meant that I made  a fatter than usual debt payment for the month of April on all my accounts. All told, on top of the $700 or so dollars I make in minimum payments (that is to say, minimum payment on my student loans and the self-imposed minimum payment on the credit card loan) I also ended up throwing on an extra $1030 to my debts. 


Now, despite the fact that the smart thing to do would have been to put all of that extra money onto the loan with the highest interest rate (student loans), I didn't do that. Mostly because having to find the $200 minimum on my credit card a month still makes me antsy. With that said, I did send most of that money in my student loans' direction to the tune of an extra $800.

So the other $200 added to my 0.99% promotional APR credit card to act as an "extra month's payment."

Speaking of interest costs, there has been a real effect to it. Previously, I used to pay close to $4.20 a day on my student loans interest. Now, it's $3.62, a saving of about 60 cents a day, which can really add up in the long run.

Still a lot of money in interest I'm paying to my student loans, to the tune of two coffees a day I'm buying the government. Ugh.

Oh, and as for the extra $30 I threw onto my debt? That was me being my particular and crazy self. Because $30 was the amount I needed to throw onto my credit card in order to get the sum owed under $2,000. And I needed to see that number one in front of the four figure sum!


SAVINGS: As impressive as the above debt repayment numbers seem... when you consider the extra money I made this month... it really isn't.


I got way more than the $1000 I used on debt repayment from my big fat tax refund from the government. Try almost four times that amount.

So I did not utilize my full refund to the max by using all of it to pay off debt, which some would say is the absolutely wrong thing for me to do when in debt.

So what happened to the rest of that money then? Well, I wanted to use a chunk of it... okay I ended up using most of it for some kind of savings.

Well... "savings" when you consider that $1,500 of it went into my travel savings account, money that doesn't even register into my net worth to be honest because that money isn't long term assets, but actually planned spending. So that $1,500 honestly just kind of disappeared into the ethers of my spending ways.

In the same breath however, it's not money that is doing nothing for me in the meantime.

Because I will be reasonably holding onto that cash for another two months before I need to spend it on the planned trip, I decided to use it in my chequing account in order to save the $10.95 banking fee I currently hate. That is to say, I'm using it and my emergency fund to save me 11 dollars a month now.

It may not be collecting interest, but at 0.35%, it's better used saving me from an 11 dollar fee than collecting 20 cents a month.

As for the rest of the cash I earned from my tax refund, I put an extra $500 dollars into my TFSA and proceeded to buy another stock with said money in my Direct Investing account. I also stashed well over $1000 of this money for the month into my emergency fund in order to really make up for the stealing I've been doing from it the last while before replenishing my short-term spending account.

All in all, a lot more money went into my savings accounts this month than in any preceding month and basically everything exploded when it came to my savings. But in a good way.




SPENDING: I really don't know what to make of this section for April.

On one hand, I didn't overspend in the groceries and total food category (although I did blow up the eating out budget) because of the aforementioned illness basically neutering my ability to stand for long periods of time never mind going out. And all told, I didn't spend all that much when it came to my four major discretionary spending sections. (Food, Make-up and Clothing, Entertainment and Other)

However, I still ended up spending about $30 over what I budgeted for myself for the month, mostly because of spending in areas that I don't look as totally discretionary but ended up being so this month with $60 extra dollars having to be spent on transportation because of the appendicitis and health and pharmaceutical costs that played a factor into all of it (medicine and the like).

Also, there were a number of household costs that I incurred as well that weren't expected.

But as $60 of those dollars are reasonably coming out of my "emergency fund" money as a result of said emergency, I can't fairly deduce that I did go over budget this month as a result, as the $60 wasn't what you can fairly call "discretionary" given the circumstances.


And so, here is the moment of truth. Because despite all my words and stories on how I managed my money and how things went, I don't think a clear idea could be had on just how this month stacked up for me and my money. Because this is something that only the numbers can truly quantify how I did.

That is to say, I did gang-busters this month!


CURRENT NET WORTH: $-25,343.33 (+11.56%)


Yep, Between the bonus money and the tax refund, this month alone meant that my net worth has rocketed up well over $3,000. And to be honest, that doesn't actually account for all the money I earned because some of the extra money made, such as the extra money earned through work, is in a holding pattern for me to figure out how to best to utilize given the mid-month emergency I encountered.

So the full effect of everything that came to be this month will affect the money I save and spend in the following month.

Nevertheless, this month alone gave me a huge jump on my stated goal of increasing my net worth by $15,000 by the end of the year in a significant fashion, more so than any other month that came before it. And it is gratifying and exciting to see that this goal is truly within reach for me and my money and that by year's end I may actually have something I have done that I can be entirely proud of.

Now if only I can get healthy enough to get my life back in order and my money actually moving again...


Friday, April 24, 2015

There are emergencies, and then there are emergencies

Remember how earlier this month I griped and whined about having to dip into my emergency fund in order to help float my sister's rent for a bit and used that as a reason to have an emergency fund?

That "emergency" now very much pales in comparison to what has happened since then.

On April 15-16, I came down with acute appendicitis.


Let me first start by saying that since that day I have spent many a moment profusely thanking the Lord Jesus, God, Buddha, Allah and whatever other deity out there as well as my loving, wonderful and smart parents that I was born, raised and live in the amazing and beautiful country of Canada. And not just because there isn't much else to do when curled up in a hospital bed.

Not only did I have to go into emergency surgery in order to get my appendix removed on the 16th, I also had to stay in hospital for nearly FIVE days afterwards due to the lingering effects of a burst, half-gangrenous (doctor's words, and yes, ew!) appendix in my body, namely that post-operation, I showed signs of sepsis.

All of the above can easily add up to well over $70,000 in medical debt in the States. ($20,000 for the surgery and $10,000 a night for care in hospital)

But Canada blessedly has universal healthcare. And as an appendectomy due to a burst appendix is hardly elective by any stretch of the imagination anywhere, the whole ordeal will be covered by OHIP as a result. This alone will be why I will never again complain about paying taxes in this province and country. Because this past week, I recouped on every tax dollar I have contributed and then some.


But while I was spared the life-crushing medical debt, I'm not out of the woods yet for this particular emergency health-wise or financially.

Currently I have only spent around $60 for two taxi trips and some prescription medicine for this emergency. I expect that number to multiply soon. There are still yet-unknown (at least until I'm mailed the hospital bill) auxiliary medical costs to worry about that isn't covered by OHIP. Some will likely be covered by my work benefits (another perk that I've been so thankful to have at this moment) but there will likely be a cost nonetheless.

Also I have missed at least seven days of work due to the surgery and hospital stay, and I don't yet know how that will translate to future pay cheques. Technically I do have sick days and if necessary, could apply for short-term disability through my work benefits, but that still will leave me short of money earned next month. That's something that I will have to figure out when I do get back to work.

But I have my health, my family and my friends, all of whom have been so supportive and helpful while I was in hospital. And that's what's most important as I continue my road back to health.

Wednesday, April 15, 2015

I have paid off four of my seven years in school, but...

Another month, another student loan payment automatically withdrawn.

But that's not all! This month's installment is further supplemented by my aforementioned tax refund, which knocks it down a decent step in my quest for $20,000 owed, a number that I can reasonably reach in a year's time with some smarts and discipline. And also careful tracking of my monthly numbers.

So a couple of months ago Money After Graduation (a very useful Canadian blog writer who discussed tackling her debt before moving forward with building wealth) had a pretty useful article on personalizing your debt/spending to help you paying it back faster.

It's funny, because when I first started paying off my credit card debt, well before seeing that piece of advice, I made sure that any money I put onto my cards during and since then that I knew exactly what it was I was spending that money on and had a plan for how or where the money to pay it back will come from, whether it was from my set monthly budget of discretionary spending or other means.

(Well... most of the time I had a plan)

Basically what I'm saying is that this kind of quantifying the money you spend into actual things you use, things you've experienced, etc. actually does work in helping you to pay it back. Especially when that spending is attached to a plan. At least, from my own personal experiences it was.

However, this wasn't something I did with my student loans ever, despite the size of it. It just kind of floated above my head, a big lump sum of money that represented what my education cost me for me to get my dream job.

Just a big miasma of meaningless cash that I spent and possibly wasted.

Until now.


Above was the loans I had taken out for my schooling, and on the right are the loans that I have since paid back during repayment up until this date.

And yes, the total spent to get myself that dream job is legitimately quite staggering. But neither here nor there.

One of the first things you'll notice is that I didn't mark repayment in order of when I withdrew the funds for school. There are several reasons for that. The first being that I prioritized the repayment of my third year of school, or rather the year I wasted all that time and money being in school and basically flunking the year.

My third year in university is hands down the single-most expensive mistake that I have ever made, to the tune of over $7,000. So imagine my small amount of relief when I calculated it out and realized that I had actually repaid the government for my error.

As for the rest, I went after paying down the smallest amounts received because it made me feel like I've accomplished more than I really did. Which, if you see above, is absolutely the case given that it appears as if I have paid off within a year and a half of my entire university funding!

With that said, my post-graduate student loans for sports journalism school was my biggest shock and surprise in that I did not realize just how much money I borrowed in 2012. That year cost me over $15,000 in loans or currently more than half the amount I still owe the government.

All on ONE YEAR! That's how much two years of university cost me once upon a time. And here I thought university to have been a problem in my student debt journey.

Granted, that one year of loans in 2012, as much as I'm paying for it right now and going forward, got me to where I am now, working my dream job (if at a bit of a pittance of a wage somewhat) that doesn't even feel like work most of the time. So no regrets there.

And whatever lingering regrets I may harbour for the money I wasted... it's done. Sure I do keep dwelling on it, and it is something that still disappoints me about myself when I look at my student loans and how that debt bogs down my money, but at the same time, seeing that I had ultimately paid my dues in repayment for it is a huge relief.

My student loan repayment had once and is presently paying things that were worth my money and time, as my fifth, sixth and seventh years were what ultimately got me my degree.

And there's nothing to be ashamed about when it comes to that cash.

Monday, April 13, 2015

My tax refund and how it will change my money outlook

So the other day I discovered that my tax refund had been deposited into my bank account. And boy, did it ever change how my finances looked in one big, fell swoop.

Listen, I've had refunds before. I've had massive ones before as well. But there's really nothing like getting a huge sum of money dumped in your lap and being told it is now yours. It makes you feel giddy.

It also makes you do stupid things sometimes.


I've done stupid things with it. That is to say, I've almost always blown it one way or another on stupid shit. Mostly crap. The last two years a good chunk of it was used to basically pay down my credit card debt in significant fashion, but never in full and it's really just another way of saying "I blew it on crap." I certainly couldn't tell you what it was that I bought that ballooned that credit card debt in the first place.

(Well except the one time when it helped to pay for an overnight trip to Ottawa, but that's neither here nor there)

Anyway, I'm mostly over that phase of my life in which I carry credit card debt now because that means most of the money will go to more sensible places. For instance, my student loan debt.

Which I kind of, totally did with this tax refund. I swear...

Well...

Okay, so I'll admit it. Only about a quarter of the money I got in my enormous refund ended up going to my student loan debt. (or to pay back the loan I took out in February to put towards my student loan debt. Either way, big picture, it went towards my student loans). The other three quarters I redirected it elsewhere. With about half of that leftover cash being put into my travel fund for a planned trip to Florida with my sister.

Yes I'm aware and I understand that that's not how responsible people are supposed to handle a small windfall when you're in debt!!! And yes, I know, it means for a third straight year, I'm spending a good chunk of my refund dollars, money that should be going to paying down my student loan as it is my student loans that gave me most of that giant refund, on "crap."

But I'm not a responsible person. I'm a person with fifty-thousand dreams in the works as far as my money goes here. And given that this may be my last real guaranteed giant sized refund (I'm almost out of education credits in which I can burn), I want my money to do as much for me as I can make it do.

And plus, it's my money. Well... kind of, given that I still owe the government that amount and then some. So really it's their money that I'm borrowing against my loans in order to do this.

This is a chance for me and my sister to gain a valuable experience together while we're both still young and fairly early in our careers and has been something we've both been thinking about since graduating, granted, jobs and job searching got in the way since then. And it's our opportunity to celebrate life.


And plus, any money I don't end up using is likely going to be sent back to my savings somehow.

As for the rest of the money after vacations and student loans? Three-fifths went into boosting my emergency fund and the rest went into my TFSA. So retirement investing and a life cushion and a means to further advance my goals in those specific areas of my life. That money put me halfway to the $3000 preliminary goal that I'm gunning for this year as well as gets some money working for me. (rather than the other way around)

All in all, no regrets.

Plus, despite putting a chunk of the money I got back as a planned expense and therefore gone into the ether, I still set aside and saved enough of the money from the return that it made a really really sizable impact on my net worth.

Don't believe me? You'll see at the end of the month...

Friday, April 10, 2015

How expensive is it to own a vehicle? A non-owner's breakdown

I've been putting off writing this blog post since... well since I got my G2 license in December and was researching here and there the cost of taking on a vehicle for convenience.

The procrastination was a result of the verb used above however: research.

This kind of post when done right requires a certain amount of research on various numbers and other things. Things that I wasn't terribly inclined to do since devising the topic. Still don't actually. It's just not my style for a blog that essentially acts like a journal of my journey to personal freedom and other things that niggle at me and my brain.

So forgive me if my writing on this topic remains fairly vague and general. Because I simply didn't do all that much research into the topic. But I have a good reason for that.

It didn't take all that much research and number crunching for me to realize that I can't afford to own a vehicle, new or used.

Recall how earlier this week, I broke down my spending and savings for the first quarter of the year? 


Did you see that massive pie piece that was my debt repayment for that quarter? 30% of my income goes to my debt. That's 30% of my money I don't end up ever seeing because it is going to someone else either to pay off the principle in which I borrowed from them, or to pay off the interest that accrued on it. Basically as a result, I really only spend and/or save 70% of my small enough income.

That on its own should be reason enough why I can't afford to own a vehicle, at least not until that chunk of cash is freed from the evil grips of debitors and mine at last. But I did manage to get a little further in my "research" of how much of my income it would eat up for me to own a vehicle.

Referring once more to the magic pie of my Q1 expenditures and savings, I spent about 8% of my income on transportation: a sum that includes metropasses, a few taxi trips, tokens and car insurance (the latter point is something I will revisit later). In actual dollar values, I spent around $600 on transit in three months, or about $200 a month.

That's actually quite a lot of money gallivanting about town, says some people as you look at my numbers. In fact, are you really sure it's cheaper to just own a car?


Well let's start with where do I put the car. Parking at my apartment every month costs $50 to park outdoors. $75 if you want indoor parking, which may or may not be worth it for the fact that you won't have to worry about weather affecting your vehicle's lifespan. Then there's parking at my workplace. It's free after 6PM and on weekends, but for two of the three week rotation I'm on, I start work before 6PM on weekdays.

Frankly, I'm not sure how much the cost is because I don't pay for parking at work right now, so let's just aim low and go with $40 to park at work, which is a very low guess.

Now there's gas, which is fairly pricey in this province and town that I happen to live and work in. Not to mention, I live  a solid 20 km away from work because well... it's bloody expensive to live downtown. So let's loosely guess that a full tank of gas will last me two weeks and cost around $50 each trip to the station. That's $100 dollars a month spent on travel.

At it's lowest, it leaves me $10 a month for every other cost, at it's most realistic, I've already spent over $200 a month simply to drive. And that doesn't include the cost of insurance (I currently pay $100 every three months to be a secondary driver on my dad's car. I'd imagine it'd be much higher once I become a primary), paying for the yearly plate sticker, maintenance and if my eyes become too big for my wallet, financing for a new vehicle, which on its own, could cost me way more than $200 a month anyway.

What can I cut above to make up the extra cash in transportation? Food? Debt repayment?

All of this tells me only one thing: I'm at the very least three years from vehicle ownership at my salary and with my debt right now. That's the earliest in which I can pay back my student loan debt, and even then... that's the ideal. I'm looking at more or less four to five years realistically.



So how expensive is it for me to own a vehicle? Too expensive. And why I own a metropass and live within transit lines.

Wednesday, April 8, 2015

The $3,000 emergency fund project

So last month I mentioned how I currently pay $10.95 in bank fees. And how much I hate it. Not just because there is a way for me to get those costs waived, but mostly due to the fact that that's a lot of money to pay an institution to hold onto MY money. Because you know, their job is to actually hold onto my money, not bloody well take it away!


Unfortunately, this practice is pretty standard with most of Canada's banks and while there are a handful of free banking options with no minimum required and even accrues interest, the inconvenience of moving my chequing accounts elsewhere is just enough to make me move for the perks.

With that said, the problem of these fees remain a problem.

However, it is also one that I can get waived.

TD will waive the fee if I keep a minimum of $3,000 consistently within the account. That is to say, from the 1st to the 31st, I need to keep at least $3,000 in that account. No, those dollars won't be accruing interest because it will have to be sitting in a non-interest accruing account. But at the same time, it will save me $10.95 monthly, which is more than what I could make with the money in an interest accruing account that isn't my investment account. I could then flip the savings to an account that does collect interest, rather than throwing it away.

Literally.


As a result of this, I want to build a base goal of having a $3,000 emergency fund by the end of the year solely for the purpose of getting those fees waived. Well preferably, I'd rather get that fee waived right now and do have a few ideas and possibilities up in the air for how to do that but ultimately, it will be my emergency fund in whole that will be doing the grunt work here.

How soon do I hope to have this done by?

Well I hope to have at least the $3,000 in which to start the fee waiving in a few week's time when my tax return comes in which will sit in a savings account until it can be moved for the start of May to waive the fee. But in terms of having the money JUST from my emergency fund (and not actually spread out over several funds) ... we shall see. That will have to depend on the money I make, save and spend in the coming months.

I'm hoping to have that money set up sooner rather than later all things considered, but I'm not about to make predictions on my spending and savings before they actually happen either. All will be revealed with time.

Ultimately, when all is settled and done with my emergency fund, I'm really hoping to have $5,000 set aside for my e-fund: $2,000 to cover any costs and the $3,000 for when stuff really hits the fan and it would be cheaper to just incur a $10.95 fee rather than say... pay interest on my credit cards.

Monday, April 6, 2015

My net worth project at the quarter point for 2015

So at the beginning of the year, I decided to set a financial goal of increasing my net worth by $15,000 for 2015, a number that was selected because it essentially sliced the weight of my student loan debt on my net worth in half.

Also important for me was that this task enabled me to both attack my debt and save for the future. Because both can have a measurable impact on my goal, therefore giving me room to be my jittery, impatient and sometimes unfocused self when it came to me and my money.

So how am I doing with my money so far this year?


No, what you see here isn't a statistical error. 30% of the money I've netted so far these last three months have all gone towards my debt or $2,391.49. That is twice what is recommended for the average person to commit to debt repayment!

Sad part is, while some of that 30% can be attributed to extra payments on both my student loans and my credit card from that balance transfer I did last month, it really only upped the percentages by no more than 8%. Meaning that even when paying minimum balances on my debt, it still eats up a whooping 25% of my regular salary. Oye.

(Yeah, yeah, yeah I need to make more money)

As far as savings are going, I was surprised to discover that it was going pretty well as far as the percentages were working for me. Between my paycheque deductions, as well as planned TFSA and e-fund contributions, around 18% of my gross pay (because those retirement deductions does not get taxed due to them being deducted off my pay) goes to distant future savings, which was better than I was expecting anyway. Nevermind the short term savings I have so far made this year, which are small but still significant

Other notable pie pieces include:

  • Money spent on clothing came in at about 2% of my money earned so far this year, or around $150 total spent on two jackets, a scarf and a shirt. Given that I've once been prone to $200 online shopping sprees not too long ago, especially around winter to spring time (right now), I'm counting this as a big win for me and my money. Keeping track of my money does work, at least it did in this category anyway.
  • Restaurants (casually eating out) came in at 3% of my money spent, or around $200 dollars spent in three months. Now I don't know about you and your regular spending habits, but sheesh I need to seriously cut back on this laziness of mine! 
  • The above doesn't even include the outings for food I've had with friends, which I counted towards miscellaneous entertainment (cable not being included), which came in at around 4% of my money spent. Granted, it wouldn't be anywhere near this high if not for a massive outing that saw me spend close to $200 on a trip to the bar in January. Hahahaha... oops.
  • I don't know how much I'm supposed to be spending on food (groceries plus restaurants) but according to my pie chart, I'm spending the same amount on transportation as I am food these first three months at about 8%. Which I'm going to slowly conclude that that isn't terribly high or unreasonable and leave it at that?
  • Between groceries, rent, transportation and internet (which is included due to it being included in our shared rent payment), 36% of my money goes towards needs, which is... a little higher than I was expecting it to be but all things in perspective, not too shabby at all. 

At a glance, even with the above indiscretions, things more or less look as if they're heading in the right direction for me and my money this year and that I'm not misbehaving as much as I had worried I was in the first quarter.

However, with that said, I'm still a bit behind on my goal of raising my net worth by $15K. At the quarter point of the year, I have presently increased my net worth this year by $3,493.52. It should be at about $3,750 after three months, or $1,250 a month saved in order to get to my stated $15K goal by year's end.

Granted, right now I'm simply just trying to increase my net worth by just $1,000 a month, so it's really all about the perspective, right?

Either way in light of this, I will be making a bigger effort to throwing more of my money in the direction of my debts and e-funds every month this next quarter in order to boost my net worth savings upward. Maybe even my TFSA.

There's also plenty of exciting money opportunities coming my way this month not to mention a few experiences I'm thinking of exploring as the weather warms up. So onward and upward we go.

Friday, April 3, 2015

My Cosmetic De-cluttering Quest is going extremely poorly

If the title of this post doesn't emphasize this fact enough, allow me to reiterate: my Cosmetic De-cluttering Quest is going really extremely poorly right now.

How poorly you ask? I have acquired MORE cosmetics in the intervening months as opposed to getting rid of them. Ugh! *head down*


And yet, while my impulse spending of cosmetics during the first three months is partially responsible for this increase in inventory, to be quite frank, a little nervous mindset of mine that is often both a positive trait in the right situations, but a total nightmare in others, probably ought to take the brunt of the blame.

And it's that I hate letting things go to waste. From food to books to clothing to cosmetics, I want to get full use of anything I buy.

On one hand, it's great because I make the most of my purchases and therefore ecologically speaking, I don't let things end up in landfills when in some respects, it really shouldn't. But on the other hand, when you spend recklessly and impulsively on things you later don't want or don't need and then find yourself unable to to get rid of it because you don't want to just "let it go to waste," well you have the makings of a potential hoarder later in life.

And while I am forcing myself to use what I have regularly in an honest attempt to "use this stuff up before allowing myself to buy something new," the reality of the situation as far as various cosmetics go is that even with regular usage of this or that, it is really really hard and it takes a really really long time for anyone to use up any one cosmetic product in full. 

For instance, if you were to apply the same tube of lipstick three times a day every day it can reasonably take you three months to use it up in full. Three months. For one tube of lipstick applied three times a day, which I don't do. Once maybe and more frequently when it's lip balm, but lipstick?

It makes me stare at my lipstick collection with the wide, frightened eyes of a terrified child knowing that each of them likely has a three month life on it... provided I wear them every bloody day!

And that's just my lipstick collection. World, have you seen my nail polish collection?


I could spend a full year painting my nails every single day and still maybe only use up maybe five to ten of my 50+ bottles of nail polish at best. That's hardly a dent, not to mention the chemicals used in polish and then to strip your nails is more likely to kill them and therefore is not a plan anyone should act upon.

I'm not about to give up however. Because it is working wonders to curb the worst of my impulse spending on this front and forcing me to take a sound look at the things I do and don't use on a regular basis really. I did manage to use one bottle of lotion up as a result, while I also actually lost a lip balm due to regular use that more or less meant I misplaced it and it disappeared into the ether.

(Actually, that I'm down to just one lip balm upsets me more than I'm willing to admit, but as I have yet to demonstrate that I actually need two of them, I'm not really allowing myself to replace it either)

It is still making me anxious in the "how am I going to use all this stuff up in time" front. Maybe perhaps solidify that routine I've been considering... but again, all good things in its own time I guess.

Thursday, April 2, 2015

The rent cheque drama a.k.a. why I need to have an emergency fund

So the end of March/beginning of April basically summed up why it is important for me to hold onto and maintain a liquid emergency fund. Mostly because you can't always count on others not to make a mess of things for you.

The rent for the apartment I live in is split three ways and paid out on the first of every month. However, rather than all three of us roomies paying the building's management separately, the other two pays me their share of the rent and in turn, I give management a cheque of the full rent amount on the first. Ultimately, it's more organized and less confusing this way for all of us.

But it's also so that I can play buffer for this exact scenario that I am now once again faced with.


My sister pays her rent via cheque. Mostly because it gives her an appropriate paper trail for when she gets questioned about her status as someone who contributes to the rent of a unit. Which is fine and dandy and doesn't change anything for me. At least until she runs out of cheques.

That happened earlier this month.

But instead of replacing said cheque book as soon as it happened, she... procrastinated it. At least she did until the end of the month when she finally walked into her bank to request a new set of chequebooks.

That was when she proceeded to find out that it will take them 5-10 business days to send the new books to her. Which was five to ten business days she didn't have. Meanwhile, she had rent and a metropass to pay for in the meantime.

So guess who is covering the difference for her until she can cut me that cheque now? Or rather, guess what.

My emergency fund.


And that's normally fine and understandable I guess, but in the same breath, here's the thing that kind of annoys me about this situation. I mean, it's one thing to legitimately not have the cash to pay me, as was the case some time last August for the other roommate. That's fine then, just let me know when you can pay me back.

Except she actually does have the cash on her to cover everything here and then some.

It's the inconvenience in addition to the paper trail that is stopping her from going to the teller and withdrawing the cash to pay me. So instead I'm stuck with the inconvenience of having to juggle my savings and money around in order to cover the shortfalls in my chequing account that is now $525 dollars short of cash. And at a time of the month when I tend to be at my tightest as far as money is concerned.

All in all, thank God for that emergency fund. Elsewise, I don't know, but it wouldn't be pretty for my financial state right now, that's for sure. Nor my mood. Though granted, it does annoy me nevertheless.

Tuesday, March 31, 2015

Recap: Spending and saving in March 2015

It's the end of March, so you know what that means? It's time to revisit my progress in the game called "I'm poor and in debt and I want to get out of it right now."


Well... I want it to be right now but really, it's a one step at a time thing that I'm doing. Which is the reality of fighting your way out of a negative net worth. The fact of the matter is, debt usually is a long battle and only very rarely does things change over night. Because money doesn't grow on trees and I'm not exactly making a ton of money in which to make all my money problems disappear. 

Hence the budgeting, saving and all the other fancy magic stuff that happens month-over-month for me.

Anyway, onward to the money stuff!


DEBT REPAYMENT: So earlier this month, I had a wild and ongoing debate (with myself) about my current debts and how I can go about paying it off. What it resulted in was that I had changed my mind about ignoring my student loan debt outside of the minimum payments in order to focus on paying off my lower interest credit card debt. Because based on the dollars and cents alone, it didn't makes sense for me to pay off the lower interest loan right away.

What ended up happening was that I did way more than I anticipated to both my debts this month. 

My student loan debt ended up getting gifted an extra $75 more than the minimum (the original sum I was planning to contribute for the month) thanks to some "found money" of mine around the time my automated payment went through. And $75 is still $25 more than the $50 I generally plan to overpay my student loans every month anyway.

My 0.99% APR credit card debt saw way more action however in the form of $350, $150 more than the minimum I arbitrarily set every month to pay this debt down. However, $100 of it was already planned overpayment from off a paycheque I received from freelancing,

The other $50 was more or less unplanned, but mostly due to "bad planning." See... I uh... forgot about the fact that my credit card required me to pay a minimum balance before the 10th of every month. And since I wasn't confident that I'll have the money I planned to use to pay that amount down in time, I thought it would be better for me to just toss $50 on it right now and save myself possibly getting dinged badly for missing the date.


INCOME: I got a cost of living raise at work this month. Yay for raises!


Although after deductions and taxes, it only meant that I was making some $15 more a paycheque net or $30 more a month. Don't get me wrong, $30 is a pretty big deal for me anyhow, especially given that it does cover the rises in costs for rent, the internet, etc. I've been dealing with since the beginning of the year. And that's $30 more that I didn't have before that I can use to act as a buffer on my spending or savings so I'm excited to plan towards making that extra cash work for me one way or another going forward.

I also got one fat paycheque from my freelancing gig and a smaller surprise one from another task at around the same time, and most of those were used towards my debts and my savings plans. Because it's just as much fun to see your savings numbers go up as it is to watch your debt amount shrink in my mind. More so, although that's entirely dependent on my mood of the day.

Oh, and there was one other small event that happened this month: I got my first dividend payout from my stocks! It was only about $3.75 total, but it was exciting for me because the moment I got it was the moment I realized that I had already made more in dividend investing than I have earned off of bank interest both in my high and low savings accounts since August! Shocking!

I will hopefully keep earning around $3 a month now off dividends, give or take the quarter and the month, which is an encouraging thought as I move towards making more of my money do actual work for me as opposed to my bank. There are a lot of little schemes going on right now in any case.


SAVINGS: This month saw a lot of funny business happen to my savings as I moved around funds in order to accommodate my impatience and my crackpot plans.


So at the beginning of the month, I raided my emergency fund to the tune of around $500 dollars. To do what you ask? Well, to fund my Direct Investing TFSA account and to buy some shares that ultimately gave me around $3.75 of dividends this month.  However, it did neuter my emergency fund a bit, which I had tried so hard not to do since my little shopping trip in December that also saw me raid that section. 

Granted, unlike December, it just moved turned the funds from a low-interest but liquid asset into a higher-return but non-liquid asset. It remained savings and didn't become a form of rampant consumption. Still, the point of an e-fund is that the money can be drawn upon easily. It isn't anymore. 

I also withdrew $400 from my High interest TFSA account and deposited it back into my Direct Investing TFSA account, and I also ended up spending around $230 out of my short-term savings/planned spending account to fund my sister's birthday as well as a brand new trench coat that I have been waiting and waiting on to buy and finally found the perfect one to buy! (Which will be told in full detail later)

Despite all of this funny business and spending out of the account, I had a pretty good month as far as savings goes. Just under half of all my freelance paycheques went towards savings, either the fund up my TFSA account or else to fund up my depleted e-fund and short term savings accounts to the tune of nearly $452 dollars. 

In some ways, me raiding my savings in certain areas prevented me from using that money heedlessly as if I had a larger disposable income.

Well... mostly. I did end up going a little crazy in the spending category.


SPENDING: Well, as per usual it seems, I went a little too nuts in the food category, in that I spent more than $80 more than I had originally intended to spend a month on food, mostly due to the eating out category. That is to say, I had zero discipline this month when it came to eating out and little by little, blew my planned budget to bits. 


Part of it was due to laziness and part of it was due to an unnecessary craving, but for next month, it is something that I will have to focus on reigning in. I've already made a start on attempting to reign in the spending however. 

Then I also ended up spending around $50 that I never intended to spend on a new indoor jacket from H&M (it was cute and on sale and cute) and due to stupidity on my part as far as the costs of my taxes go, really blew out my miscellaneous fund for the month on getting my taxes done.

Thank goodness for that fat refund next month.

All in all, while this month wasn't nearly as expensive or expansive as December or January, it felt as if it got pretty goddamn close. While one of the big expenses was one that was more or less beyond my control (taxes), the other two could be better managed as far as temptation is concerned. In any case, I will need to figure out a viable plan in which to manage my need for new clothing once in awhile... maybe allow a purchase once a month if possible. But we shall see.



CURRENT NET WORTH: -$28,680.62 (+4.17%)


Allow for this thought to sink in for a moment here. In a month where I only got two paycheques and a marginal raise plus my freelance salary, I almost equaled the savings I made in a month where I had three paycheques and my freelance salary.


What does this tell me? That February did have an effect on me and my priorities and kept me grounded towards putting more of my spare money towards it. 

I also thank God that I rethought how I would account for my savings in my net worth and focused on only my emergency fund in my savings account and did not include my "planned spending" accounts like my short term savings and my other accounts, because then like in December you would have likely seen my net worth take a bit of a hit in that category thanks to spending in March out of those categories.

It's somewhat hard to believe looking at this number that I may soon be seeing a net worth around -$25,000... and this from a net worth of -$33,000 in October of 2014.

It just goes to show that even when I feel I had gone crazy with my spending (which seems to happen every single month) or that I am stretching my money too thin, the very fact that I am watching where my money goes and making an attempt to reign in said spending here and there is leading to a very positive net increase every month. Regardless of if I manage to totally reign in my impulses, I am nonetheless reigning them in just by watching them.

Anyway, next month should be interesting to see what happens given a fat return with likely make a giant impact in all my finances. Where and how, we shall have to see however.

Monday, March 30, 2015

An early update on the TTC test, because the results are in!

Earlier this month, I mentioned that I bought something around $125 dollars of tokens in an attempt to gauge my actual usage and whether or not it's worth it for me to buy either a VIP or even a regular priced metropass, which goes for a little under $20 dollars more every single month, or if the expense is actually a luxury.

Well on Saturday March 28th, with at least two more round trips to contend with for the month and I've used two more tokens than the $125 worth of tokens I purchased.

Yowzah! That's a lot of bus rides!
Yes, that's right. Even while being mindful of the fact that my travel options are not unlimited for the month and therefore being reasonably more conservative than I'd otherwise be in a given month (translation: less lazy-ish) I'm on pace to have used more than $141 dollars, or a full priced metropass' cost, of travel on public transit this month.

And that even doesn't take into consideration that I can claim my metropass costs on my taxes, which gives me money back for having one once a year. I can't do that for money spent on tokens.

So, does this result with the tokens surprise me?

Actually it does.

While I'm cognizant of the fact that I often have six day work weeks (regular job plus freelance) plus other errands that adds to the daily back and forth of my life, in my head, I didn't expect to use 44 tokens in only 26 1/2 days. I had thought I would make it to the end of the month easily with those tokens and a few left over besides.

Well, clearly I guessed wrong. And not only did I guess wrong, I completely underestimated my need for transportation when it came from coming from home to work and then some. I'm well aware that I am very dependent on public transit to get myself places, and not just because I don't have a car. Frankly, many of the places I travel to in this city as a result of work or play is better accessed using public transit than having to find and pay for parking downtown.

So what does this mean for me going forward as a transit user?

It means that me owning a metropass is not only worth it, it can save me a buttload of money when it is a VIP pass. And that was the real lesson for me in the month of March.

Monday, March 23, 2015

I hate my checking account. Unfortunately not enough to switch.


I own a chequing account with TD Bank.

It started as a savings account when I was 16 and first opened the account and it has since became a chequing account over time (although it still maintains some unusual accounting quirks due to its origins). This account has seen me through everything since then, from school to part-time jobs to my current full-time job. It's been my constant in life.

Of course, that constant presence has lately cost me to the tune of $10.95 a month. 

Yes, so that TD can hold my money and maintain my business, I pay them $11 of my hard earned money every month. 

Absolutely seeing those bank fees disappear from my account every month is increasingly becoming an issue with me as they should really. When you budget the dollars and doughnuts out of your monthly expenses, especially in my case, $11 seems like more and more money every single time. That $11 a month could shave a significant amount of time off my student loan debt every month. Or pay for some great meals. What have you really.

But I'm struggling with the idea of how to get rid of it.

It's not that there are 'no options' available to me to get rid of bank fees. In fact, TD, the very bank I'm gripping about does provide "free" chequing accounts to everyone.

Well, except that those free TD accounts comes with a catch that is partially the reason why I'm gripping still.

Free TD accounts require a minimum balance in order to have your fees waived. And before you think "Oh that's not so complicated" let me add, as far as minimum balances goes, these are not small insignificant minimums. Even TD's minimum chequing account (which comes with a $3.95 charge) requires a $2,000 minimum. And it's an account that I don't downgrade to despite the smaller price because I happen to use my account just enough a month with bills and whatever is that it is still cheaper to use the account I currently have than the one a pay grade down.

The account I'm currently using? I need $3,000 to get the $10.95 charge waived. Money that could be put to work elsewhere.


To be honest, you only have to look around at other major banking institutions in Canada to realize that most of them follow the same model of a minimum balance needed to avoid fees without any actual no-fee, no minimum banking options. 

While the amount needed varies meaning that some accounts are still better than others, it really isn't enough for me to justify making any switches in banking. The model also begs the question, is there any actual no-fee banking options for Canadians that doesn't require us to be students, seniors or have lots of money sitting in a bank account?

Yes.

The more famous of the two I know of is the one offered by Tangerine, who not only doesn't charge fees but also pays interest on money held in your chequing account, something that my chequing account with TD doesn't provide at all for any amount.

However, while doing some quick and cursory research for this entry, I also found the President's Choice Financial no fee banking account... and found myself feeling it to be a better no fee account if only because it matches Tangerine and then exceeds it in services provided... except one.

Their interest provided is tiny compared to Tangerine, who provides 0.25% for the first $5000 while PC Financial doesn't provided a 0.25% interest until you have twice that ($10,000) in the bank.

While the pull to switch is strong, the inconvenience of switching after owning this account for as long as I have and having a large number of accounts associated with it is enough to deter me... but only for now. I'm still determined to eliminate my bank fees and that may mean having to eventually go elsewhere to do my banking. But for now as it were, I am looking towards getting the minimum balance to get it waived.

And the sooner the better.