Volume 1, Issue 14

Hi. Thanks for joining me at The Money Case.

Living on a shoe string budget doesn’t mean that you’re financially challenged or you’re a stingy individual. For me it means that I am living an economically efficient lifestyle where there’s monitoring and no waste of money or time.

How so? First, I’m a member of The Money Case which means that I like the idea of keeping a budget or cash flow, a term my husband loves to use. Having this on-line budget means that I am conscious of how I spend money and my intention is also to have as much savings as I can possibly have. I find that seeing the numbers in black and white is like a powerful affirmation rather than having them roll around randomly in my head giving me a migraine. This budget tool, I find, allows me to project for that next big cash purchase, like a new washer and dryer. I find paying by cash very liberating.

Secondly, whenever I make a purchase I ensure that I am in need of the item and not buy because I want or just have to have, perhaps, another outfit. I can attest to this, and I can tell you it takes a lot of mulling over before I finally come to a decision.

We’ve been invited to attend a fund raising gala for artists (www.awolgallery.com); my first born is part of this art exhibition. I am so excited by the prospect of her launching her art career that I decided that I must get a new, hip outfit that would complement this special evening. I’ve been browsing at the many boutiques around town and saw a few pieces that would be appropriate. On second thought, I mused, what about that beautiful organza and crepe outfit that I have hanging in my wardrobe. The outfit is so gorgeous and it fits so well that the first time I wore it someone asked me to borrow it to wear to a wedding. I was indeed flattered by her request because, you see, I sewed that outfit, and I never thought for a moment that my sewing talent was something to be admired.

Today I tried it on and decided without a shadow of a doubt that’s the outfit I’ll wear to the gala. End of search, it looks as good as new, although seven years old, and no money spent. And I know for sure that it’s comfortable and I won’t have a twin when I show up at the gala.

When I looked around my home I noticed another shoe-string budget idea: the windows need a good cleaning because all the insects and spiders that love to live near the lake have made our windows their playground. And unlike our neighbours we refuse to debug the exterior of our home. Afterall, it’s part of the food chain since we see the spiders feed on the insects that are caught in their webs, and birds, wasps and moths feed on the spiders. First, I was pondering to get a window washing company to do the job. Then again I need the exercise, especially for my upper arms that need to be firmed up before the gala. Secondly, to wash the windows I used white vinegar mixed with tap water, and shone the windows with a damp man-made chamois which is reusable and washer safe as apposed to paper towels. The results: my windows are so clean and shine that the glass looks transparent. And my ‘ceps? Well they do need some more work.

In terms of this recent shopping exercise I’ve honestly been able to examine my motivations for shopping, and have become aware that I am definitely what academe calls an economic shopper. This means that I’m a “rational shopper who is price sensitive and considers the functional aspects of shopping to be important”.  

www.washington.edu/JSCR /2005Articles/JSCRV13-1A3ShopMotivations.pdf)

With such a mindset, no doubt it’s very easy for me to live on a shoe string budget, and have tons of time to pursue numerous hobbies.

Have a pleasant week, and we’ll meet again next Tuesday at The Money Case.

With warm wishes,

Debra

Volume 1, Issue 13

Hi.  I’m delighted that we’re meeting again at The Money Case.

Cross every ‘t’, dot every ‘i’ has been my life-long maxim whether in my personal life or business life.  Pull every weed.  Vacuum every speck of dust.  Wash your hands after you use the washroom or come home from school, even eat every grain of rice, I told my growing children.

What does this all mean?  Am I a perfectionist, a germaphobe, a fanatic?  I am sure that those close to me will say, all of the above, and even add more labels to this list.  But I beg to differ.   I refer to my habits as paying attention to detail, an excellent trait that I cultivated at a tender age that has served me well throughout my many decades.

Take for example, some years ago as a meeting planner for a national non-profit organization, I planned all of their conferences, large and small, monthly, semi-annual, annual meetings of the Board, and scientific symposia for scientists.  I particularly enjoyed the annual meetings because as a national organization meetings were held in a different part of the country every year.  Of course, having large meetings for stakeholders away from the office, I took it on myself to ship every item imaginable to the host city, and that is where attention to detail comes into play.  I would actually sit at my desk and visualize every detail of the four-day proceedings, and included in my boxes paper and pens for those members who forgot their notebooks, as well as needle and thread for the committee chair whose hem ripped when it got caught in her high heels.

I remember how rewarding those days were as a meeting planner, how successful all of my meetings were, and how at the end of every meeting I would be called up to the podium by the Chair as he or she expressed thanks for a job well done, from getting everyone to the venue without a hitch to making sure that all members, including those who were disabled, had the right accommodations, the right aids, personal care attendants, the right meals to suit their dietary requirements, and that every detail was planned to ensure wheelchair accessibility.

You may wonder if this attention to detail left any time for me to enjoy the tasks at hand since it seemed that I was obsessed with planning perfect meetings.  I would say that perfection never entered my mind.  I did everything with enthusiasm, giving all aspects my full attention – whatever thy hands findeth to do do with thy might – was what has been driving me – from childhood to today: cross every ‘t’, dot every ‘i’.  Attention to detail: a very fulfilling maxim.

I know for sure that paying close attention to detail in my every day life saves me a lot of time in the long run, and I find that I expend less energy because I take a little time to plan ahead and to anticipate my needs for any given event.  A simple example: I know that I’m going to use the street car when I go into Toronto to do a number of errands so I make sure I have enough loose change before I head out because the transit service calls for exact fare.  If not I’ll have to somehow make change when I park downtown.  Mind you, I’m parking on a residential street where I don’t have to pay for park.  Maybe I’ll have to first buy something at the convenience store so that I can get the change I need.  If time does not permit then I’ll have to pay with whatever dollar bill I have, 5, 10, 20, and remember there will be no change.  Imagine the time, energy, some coin, and anxiety that I would have saved just by paying attention to a very small detail before I left home, and the ease and enjoyment at which I can go about my business when I arrive in beautiful Toronto.

Being detailed oriented about my finances also saves me money.  As the saying goes, take care of the pennies and the dollars will take care of themselves.  One good example is bank statements.  I pay close attention to all of my transactions and service charges, and if there is a transaction or charge that I don’t understand I call to question it.  For example on two separate occasions after I had made deposits to cover cheques that I had written, I noticed that the institution had processed the cheques prior to posting my deposits.  This meant nsf charges because I keep the balance on this particular account at a minimum.  Needless to say that in order to resolve this dilemma I had to go into the bank, and show my deposit slips which had the date and time of the transactions. You may say, look at the time and energy you spend to save a few dollars.  Yes, but I combined my trip to the bank with a trip to the post office, and the supermarket.  But then it’s the principle, and these days one nsf charge costs me forty dollars.

Do pay attention to the ways in which you can enjoy your week, and let’s meet again next Tuesday here at The Money Case.

With warm wishes,

Debra

Volume 1, Issue 12

Hi. I’m so glad that you’ve joined me again here at The Money Case.

What does it mean to be an optimist?

I believe that when you’re an optimist things will go right for you. And if things don’t go as you had envisioned, you will always learn valuable lessons from the challenging experiences with which you are faced.

Examining every facet of your life, including health and money, and reflecting on how each facet has turned out so far, or better yet look at your thoughts that accompany every situation and you can know for sure whether or not you are an optimist. If you find that you are always complaining and are plagued with negative thoughts don’t despair. Simply learning to shift the way you hold those kinds of destructive thoughts will cause you to have a brighter outlook. A popular practice would be to view the glass as half full instead of half empty.

Sometimes I waffle between pessimism and optimism because I would start out with a negative attitude; a conditioned way of thinking, and have to make a conscious attempt to inject positivism into my thoughts. For example, when I was having an issue with my health, my first thought began with “why me”, but before I could search my mind for an acceptable answer I took a couple of deep breaths and focused on where I could go from that point. I regarded that time in my life as a fork in the road. I could go off, on one hand, dwelling on the fact that my health was impaired. While on the other hand, I could say take me where you will for I am receptive to new beginnings. I resolved to take the optimistic approach, and without a shadow of a doubt circumstances unfolded that allowed me to follow a new and wonderful path in my life.

I have the same undulating thoughts about my money. I start off feeling pangs of anxiety about my cash flow, and start thinking the worse as fear, that’s always lurking under the skin, raises its head triumphantly. However, when I turn to documenting my incoming cash flow I automatically go into a happy mode, and I can carry on enjoying whatever task I’m working on, including my love for gardening. The time span between my being anxious and flipping over to optimism seems like a lifetime. And why is that? Because my ego manipulates my thinking as it loves drama and relishes the time I spend going over all the money I’ve just spent and how I should have saved that money, what was I thinking, et cetera. Then what a relief it is to find that there’s nothing to worry about. Money is there to be spent in a joyful manner. Some part of me knows for sure that I am not an irresponsible individual and I would not divert my money away from my financial obligations. By my putting the figures on paper and revisiting my budget on The Money Case gives me that tangible proof that all’s well. The scarcity and lack is not in the finances, but in my sometimes not too optimistic quality.

In practicing to become a full-fledged optimist, I have become acutely aware of how important it is to live in the present, treasuring every moment as precious and special. That if I wanted a good future, in every facet of my life, I must make the present moment my new best friend by shifting my way of thinking; shifting to an optimistic realm.

Additionally, in learning to accentuate the positive, I look for five things, in each day, for which I am grateful, and to write about those five things in my journal. Rereading my entries from time to time serves as a reminder of the type of individual I strive to be.

The best part of being an optimistic is that like attracts like. Positive, optimistic people are drawn to positive, optimistic individuals.

Are you an optimist?

Have a great week, and let us meet again next Tuesday here at The Money Case.

Volume 1, Number 11

Hi. Thanks for sticking around at The Money Case.

I’ve been telling myself since August 2006 that I have to start exercising, but to date I’ve done nothing to help my body along the way. Honestly it’s the first time in my life that I’m putting on the pounds and because I don’t take exercise as a serious part of my lifestyle, I forget that I ought to be exercising if I want to stay trim, and healthy. I don’t for a minute believe in diets especially since I enjoy eating. So no wonder my clothes feel a tad snug.

It’s the same with my money. For the first time I’ve become conscious of my money, but unlike the pounds, I’ve made a concerted effort to shed the all-consuming debt. You can say I’m on a debt diet.

In Volume 1, Number 5, The Money Hour, I had invited you to experiment with saving on a daily basis, especially during our lunch hours. Today I’m inviting you to join me in documenting every cent that you spend every day. In this way we can start to pay attention to our spending habits and spending weaknesses.

For example, say you buy a Subway for lunch every day of the week. I know, some people have to have one every day. That’ll be around $9.00 per day, $45 per work week, $180 per month, and $2,160 per year. If you carry your lunch from home you can save, let’s say half of that dough.

To start the debt diet we need to write down every cent that we spend daily. And a good place to start this process is by using The Money Case. This is our free on-line budgeting tool that lets users input their daily spending as well as their income, and shows the different areas where there are overspending, and what’s putting a hole or holes in our wallets. The analysis is done for us by the software. The Money Case will become our debt diet guru.

I do want to improve the quality of my financial life, and I’m sure that you too are sick of being in debt. Sick of being stressed, anxious, tired and miserable.

On the subject of dough, I’ve discovered that it’s the wheat that causes bloating. So if I cut out wheat from my diet totally, walk daily, and drink lots of water, I’ll find that the quality of my life will improve. As a matter of fact, with the new food diet hand in hand with the debt diet, I am sure that I will enjoy an optimum quality of life.

I wish you a good life. Until we meet again next Tuesday here at The Money Case.

Volume 1, Issue 10

              Sitting on the dock of the bay, watching the tide roll away…

                                                                                          Otis Redding                                               

Hi.  I’m delighted that you’re here with me again at The Money Case.

In about two and a half weeks’ time summer will come around beckoning us to be in awe of the glorious sunshine.  Long, hot and humid days will make us sweat, and instead of “sitting on the dock of the bay, watching the tide roll away” boaters will want to be riding the tide.

Will they or won’t they be riding the tide this summer?  With the price of gasoline, I think that there may be a pause before boaters answer that question.  Local boaters would indeed be sitting on the dock, reminiscing about not so long ago when they would jump in their boats after work and  take off for nightly trips, or for the weekend, or plan their vacations boating on The Great Lakes.

Here on Lake Scugog, as compared to three years ago, boating traffic has gone from heavy traffic to a trickle, no doubt as a result of the exorbitant cost of filling up that tank.  Gas costs between 10 to 15 cents more per litre at marinas than at service stations because of the seasonal nature of this type of business. At today’s price, the cost to fill a 109 litre capacity tank for a 22 ft cruiser ranges from $157 to $491 for a 341 litre tank for a 27 footer.  Traditionally, good weather means spikes in gas prices, and this summer will be no exception.  All eyes are on www.gasbuddy.com.

So what are boaters around Lake Scugog planning to do?  Some say they’ll bite the bullet and continue to enjoy having fun on the lake.  That they’ll cut back on other purchases.  Others say that they’ll take the boat out once a week rather than every day.  Yet others are planning to convert their boats to house boats, or floating cottaes, not going anywhere, they say, but will choose to entertain on their boats in the dock.  Still others want to sell out, but wonder where they’ll find buyers.

What of sail boats, I queried.  I’ve seen a colourful sail boat on the lake on Mother’s Day.  It’s not the same boaters tell me.  There are those who go boating and then there are those who go sailing, and the two shall never meet.

For me, sitting on the dock looking on at all of the activities suits me just fine.  I know for sure that my husband sorely misses the steady stream of traffic on the lake when he relaxes in our backyard sipping his beer as he dreams of captaining his own boat - some day soon - he assures himself.

Enjoy the good weather, and I’ll see you here again next Tuesday at The Money Case.

May 27, 2008 Volume 1, Issue 9

Money – From A Woman’s Perspective

Hi. I’m delighted that you’re here with me again at The Money Case.

May 25 – 31 is Energy Conservation Week in Ontario. Every day of the week there are different activities which focus on awareness and taking action. The highlight for the week “count every kilowatt day” is set for Thursday, May 29^th. On this day, energy consumption will be monitored across Ontario.

“Tieless Tuesday” will be held province wide. This activity is described as, “A tie is formality defined and often loosened or removed for comfort. Tieless Tuesdays encourage Ontario businesses to conserve energy by turning air conditioners up two degrees and promoting casual, relaxed attire – for both women and men – throughout summer”.

I wonder who authored Tieless Tuesday. Personally I am not acquainted with any woman who wears a tie to work, and I take offense to this name especially since I plan to ‘do my part’ and dress casually and relaxed today and for the rest of summer.

There are a number of conservation tips listed on this website for the home, office, and school. As with the office, the one I like the best for the home – and this applies to the upcoming summer months – is to minimize the use of air conditioning.

Fours years ago when we moved to live on a peninsular we deliberately decided not to purchase an AC. On those humid days I regret that decision, but for the most part there’s a cool breeze coming off the river, and flowing through the house, which is open concept.

So right off the bat my husband and I are doing our part to conserve electricity. On those unbearably hot, humid days when the neighbours’ ACs are humming and the power company is issuing warnings about spikes in consumption and threatening brown outs, we can raise our hands and say yes, we’re steps ahead of you guys in terms of saving electricity, the environment, as well as money.

The intent of this week is two-fold. First, the week will demonstrate the power of collective action. And secondly, it will show just how powerful the individual consumer is in terms of decision-making, in this case, energy conservation that will help to preserve the environment.

The province is aiming for Ontarians to reduce their energy consumption by 6,300 Megawatts by 2025. To give us a clear picture of how we measure that usage - one in five electricity consumers will need to come off the power grid. Time is energy. Energy is money. We must start saving both right now.

Source for quotes, and for those interested in conserving energy please check out http://www.energyconservationweek.ca

At this point I have to talk about another sensible initiative that was announced in April this year by the province in an effort to save money, electricity and the environment: the lifting of the ban on clotheslines in subdivisions. Can you imagine that such a ban existed? That developers thought that using the sun and wind to dry our clothes was in bad taste? It is estimated that consumers will save $30 a year as dryer use would be reduced by 25 per cent. Greenhouse gas emissions will be cut, as five dryers produces about the same amount of emissions as an average-sized car, and it will reduce the demand on the power grid, as dryers use about 900 kilowatt hours of electricity a year. For more information, please refer to the CTV News article: Ontario premier lifts outdoor-clothesline ban

Next “Tieless Tuesday” I’ll look at switching to green electricity. Stay cool, and see you then at The Money Case.