Lower Prime Rate

All those who are fiscally responsible with investments were probably not too pleased to see that the Bank of Canada had dropped it's prime rate by another .25%, bringing it to 2.25%. However, for those like me with a negative net worth, this announcement last week made our day.

All of my debts are floating and so a lower prime rate, means lower interest payments. In my case, .25% is marginal but every penny counts!

Here are my new and improved interest rates -

Visa #2, Prime + 6.9% = 9.15%

Line of Credit, Prime + 5.75% = 8%

Student Loan, Prime + 2.5% = 4.75%

Some banks are increasing interest rates on lines of credit but (knock on wood), this hasn't happenned to me yet. It seems pretty unethical to raise interest rates on lines of credit but I guess ethics isn't the strong point of the banks these days. If you haven't had a chance yet, listen to Juan Enriquez the chair and CEO of Biotechonomy, a research and investment firm helping to fund new genomics firms, speak about the economy and our economic & technological future. Really Citibank? You loaned 47x the amount of cash you had? They say payback is a bitch but in this case, it was obviously leverage.

Birthday Love

I haven't had much opportunity to write lately because of the demise of my laptop. Right now it's almost 6:00pm on a Friday and I can't wait to get out of the office so this will be a short update.

It was S's birthday this week! The extra $$$ I needed was all included in my secret b-day budget this pay period. Because I budgeted, I was able to get him some great gifts and still keep my bank account afloat. For a mid-thirties b-day, S got:

*a cd case for the collection of indy rock he keeps in his car
*a nose hair trimmer (asked for) - yes, we are married now so this is ok apparently (ha!)
*a fishing mapbook to show where the best places to go fishing in Ontario are
*a $100 gift certificate to a local sport fishing shop so he can get a new fly rod
*dinner with his me, bro & bro's wife
*delicious cake & wine
*lots of kisses

The nose hair trimmer is a bit of a hilarious gift. It's not like he really needs it but then again, it will probably come in handy one of these days. Is this the men's equivalent to a woman getting a blender or a vacuum? In any case, he asked for it soooooo..... yeah. Potentially it was a bit of a domestic gift but we've got to take care of each other so that's o.k.

Today my bank account is at 143.22. That's $8.77 below my minimum bank balance for the day but given what a big week it was with the b-day and all, I think that's pretty good. Next pay period, I'm really going to need to get my laptop fixed - stat!

Who Steals Parking Tickets?

This weekend I went to this really interesting event on Creativity and Innovation. It was a great way to spend a Saturday afternoon, learning how to "fire up my brain" and also the history of creative theory.

Apparently drinking pure water (coffee/tea don't count) is the number one thing you can do to make your brain most effective. So if you're going into a big exam or meeting, have a big glass of H2O before you begin. I'm kicking this up and am going to try to drink 8 cups a day, which is equivalent to just under 2.5 times the stainless steel water-bottle I have.

I had 2 tickets to this event and invited a friend to come along with me. Then when I got there, I got asked for a $20 'donation' per ticket. Kind of embarrassing when I told my friend they were pro bono and I didn't have any cash. Anyway, no biggie, quick trip to the bank machine and I covered both tickets. I'll just expense them but I wasn't anticipating having that money out of my account so another area will have to be cut out this period.

Anyway, it got worse because I went out to feed my parking meter half way through and a shop keeper comes out and tells me that I got a parking ticket and a homeless person stole it!!  Only one question come to mind here... uh, why? Was he also going to pay it for me? Somehow I doubt it...  Why would someone steal a parking ticket? Was this person so vengeful towards others that he was hoping I'd get a second ticket?  If that's the case, peace be with him. What a way to live your life!

The parking signs are so confusing in this city, they might as well be in Swahili. The parking authority has paid at least one salary on my parking tickets alone since I arrived, I'm sure. Anyway, now I have to call them to see if they can find the ticket because of course, it triples in price if you don't pay it in the first week.

I hope no other unexpected expenses come up this week!

Friday Financial Analysis

Prior to my frugal days, the weekend was the most dangerous time for my bank account because of my weekend spending binges. It was like the money was magnetically repelled away from my wallet. I'd go to Costco and drop $250 at the til without any prior consideration or head to the outlet stores and cherry pick some cute shoes or outfit(s) to add to my already too small closet. Pointless! Looking back, I'm not sure how I managed that but I only have to look at the remaining balance on my #2 Visa card to remember.

Original Balance: $6,150.56
Today's Balance: $5,500.00
Total repaid to date: $650.56

I actually had paid off more but added another $500 on it for a trip back to Vancouver for the May long weekend. Anyway, the $650 is not impressing me and if I want to achieve my goal of paying off Visa #2 by the end of September, I need a plan!

Voici - "le plan"
The payment schedule is pretty stiff but I think I can do it. I really need to be frugal and save though because admist all this debt repayment, I also have to pay for a few other big expenses like another trip back to Vancouver for on of my BFF's wedding. Which reminds me, I really need to work on my 2009 overview budget this weekend.

Should be a pretty low key weekend this weekend. I went MIA on my turn for house-cleaning last weekend so I need to do that, then yoga and sushi which is becoming my Sunday ritual.

Today's bank account balance: $631.56
Minimum balance: $578.19
Ahead of the game: $53.37

Top Secret Budget

Unfortunately, this pay period I can't post my official budget because it includes some dolla dolla bills for S's birthday gift. It's his birthday next week!

Any stellar gift recommendations for a male stranger in his late twenties / early thirties? I've got a few ideas but am definitely open to any strokes of genius any readers may have.

However, I will post my minimum bank balances for the period because S certainly doesn't have time to sit there trying to decipher my budget!

Overall, I'm left with about $33/day to spend on my ok to spend days. It should turn out to be a fun and doable pay period.

Also, I need to get my taxes submitted asap! I've been waiting because the National Student Loan bureau hasn't sent my receipt for my interest credit yet (despite multiple phone calls). Since the deadline is just around the corner, I don't think I have much choice. S says I can carry the credit forward to next year though - providing I EVER get the form out of them.

Fingers crossed for a nice refund.

IT'S PAY DAY TOMORROW!!

Just wanted to throw that out there :)

Today's bank account balance: $59.26

Tonight (if S has a new work laptop he brings home) I'm going to sit down and figure out what a no spend pay period would look like. Lately I've been reading Carrie on the Cheap and came across Carrie's 10 Baby Step to Financial Freedom which I found very helpful, especially Baby Step #1 Write It Down which is about doing a budget for the whole year.

Although I haven't done this in it's entirety yet, I do plan to. I've got some big bills coming up this year including another plane ticket back to BC for one of my best friends wedding and one to Scotland for my brother's wedding. I had not even considered starting saving for my next plane ticket to BC since it's not until August but that's only 7 pay periods away! Thanks to Carrie from Kansas City, I'm on it.

Bad Laptop Karma

Tonight I'm writing from S's tiny Nokia E71 because S and I have clearly done something to piss off the laptop gods.

My Toshiba laptop has been on the fritz for a while with the battery dying even when it's plugged in and registering a charge. Now it will only stay on for a few minutes. Does this sound familiar to anyone? Do I just need a new battery? Anyway, it's not useable so we've been using S's work laptop which today totally went sideways!! The screen went bananas with all these crazy lines and we can't see a thing.

S suggested that I try to take things to a whole new level and try a no spend pay period (except monthly bills and groceries). Now I'm thinking that's not such a bad idea. The weather is getting warmer now anyway so we could play tennis, etc, to keep ourselves entertained for cheap as chips. If I did, that would be a great way to save for a new computer. Then in the summer I could try it again to save for another plane ticket back to BC for one of my best friends weddings.

Blogging - The Secret to Weight Loss?

A strange thing has been happening since I started this blog - I started losing weight!

It definitely wasn't a planned thing but when I began this blog, a few new habits began to form and low and behold -> blogging = weight loss. I'm not talking a lot here but I've probably lost about 5 - 7 pounds, yay! Perfect timing too with Summer just around the corner.

It began when I stop my very expensive habit of buying lunch on work days. I was mildly trying to buy healthy lunches - turkey sandwich w/ milk, or veggie panini w/ salad, etc. They were always really large portions and I'm the type of person who will more or less eat until I'm stuffed if the food tastes good and is in front of me. My food schedule usually consisted of eating breakfast before work, one large lunch and a late dinner. I wasn't too worried about my weight but was always about 8-10 pounds over my ideal.

Fast forward to today: Now I pack my lunches every day! And generally try to include a lunch item plus three snacks so that I can eat at regular intervals.

8:00am, Breakfast before work - toast w/ natural peanutbutter & banana

10:00am, Snack - green apple

12:00pm, Lunch - dinner leftovers or Lean Cuisine microwave meal

2:00pm, Snack - small yogurt or carrots

4:00pm, Snack - dark chocolate cherry Kashi granola bar

8:00pm, Dinner - Spinach salad w/ chicken breast

(obviously this isn't what I eat every day but it's a good representation)

Because of this new schedule, I've really noticed that my metabolism has been kicking it up. I'd heard this before but had never tried it myself. Now I'm a believer, eating 5-6 small meals a day really works. My budget also allows me to fit in hot yoga once a week without feeling guilty at the cost. So I'm doing that weekly now too.

So, what I have to keep doing to get ready for summer is,

1) Keep bringing my own lunches to work

2) Eat at regular intervals

3) Hot yoga weekly

4) Blog about it!

I Can't Wait To Get Home!

On the May long weekend, I'm heading back to Vancouver to see my friends and family! I cannot wait. The last time I saw everyone was at Christmas time but I'm super close to everyone and missing them has been my biggest challenge in moving to Toronto. My ticket was $499.45 and my parents and S are both going to give me $100 each so I'm heading to Vancouver for about $300 which is an wonderful.

S is leaving for Europe for three weeks to finish his MBA at that time anyway, so since I'd just be at home missing him, this works out really well.

Unfortunately, I had to put this ticket on my Visa so it's now maxed again. But on the upside, I'm planning on dropping a large payment of $750 in my next pay period. Plus the $200 from my familia and it should be back down to a respectable amount very soon. I'm also going to make an effort to put some extra money on it.

It's actually a good thing that my Visa was maxed this morning because I was playing around online and ended up designing my own business cards on vistaprint.ca. They look great! And were only $50 including shipping but when I went to process the order my Visa got declined. Although I think it's a really, really good idea to have a personal business card and I will probably process them in future, this morning it definitely would have been a complete impulse buy.

Officially Frugal

What a hectic week, I've barely had time to update my blog.

This morning I did something for the first time that in my opinion, was the final confirmation of my new frugal status. What was such a milestone?

I hand-washed a zip lock bag.

Yup, that's it! In one thrifty move, my zippy was washed and back in the drawer. Sticking it to the man, frugal styles.

Thankfully, I got my transit expenses back this week and now they're safely in my savings account so I don't short myself next month. Other than that, my budget is in excellent shape this period.

This weekend S and I were talking about going canoeing & camping in Algonquin park. We were thinking it might be a little chilly but I was going to rent a super warm sleeping bag. Anyway, S calls to rent the canoe and the guy says that sure we can rent a canoe! Except for one small problem - there's 6 inches of ice on the lake. So, S & Allie from Vancouver potentially could have been sitting in a canoe trying to paddle on a frozen lake this weekend. Hmmm, Veto!

Happy long weekend everyone :)

Power Weekend Run-down

This was such a great weekend, I wish I could rewind and do Sunday again. It was so beautiful here in Toronto and this morning, it's slushing, yuck.

Thanks to S's extra injection of funds into my account, my budget is not looking half bad this period! And the weekend didn't knock me off course. On Friday I went to go see my cousins; Saturday I slept in and was late for the art show I wanted to see but went to say hello anyway, did my grocery shopping, went to the concert S had tickets for. On Sunday, we woke up early, had breakfast, went for a 27 km bike ride down to the waterfront and up the Humber river, walked down to Kensington market, went to hot yoga, watched ANTM on youtube, went to sleep!

Money-wise

Friday

Bottle of wine - $9.75

Saturday

Used Book purchase - $13.64 - The Portable Dali

Groceries - $75.04

Personal Care - $13.00

Sunday

Bulk Quinoa - $8.00 ("Nutrient Powerhouse", cheaper in bulk!)

Sushi lunch - $16.45 - treated S $5.95 each plus tax & tip

Hot yoga - $18.00

Total Spent $153.88

*It's now slushing plus thunder & lightning, I don't want to leave the house today!

My addiction to Hot Yoga is completely growing and the more I go, the less the heat bothers me. This week we were working on anchoring before twisting to get a deeper stretch. I'm by no means an experienced yogi (this was only my fifth class) but after a few weeks of getting used to the heat and learning the basic poses, this was the first week I really noticed my flexibility had increased. I've taken to going on Sunday evening because it's a great way to calm the mind and spirit after a full weekend and to prepare for the week ahead... which is starting Now.

Mini-Crisis Averted

This morning I was sitting at my kitchen table catching up on my favorite blogs and drinking tea while S made french toast for breakfast. We were half chatting... I was trying to explain the "blogosphere", and I was telling him what interesting things you are all doing, he was half listening, half humming to himself.. you get the idea, regular Sunday morning at casa S & A.

After breakfast, S mentioned that he wanted to catch up on my blog, and so he read my previous post (the one that said I only had $41.01 to last me until April 14th). The result of that? Bank of S to the rescue!!

Now, despite being married, I am trying to get myself afloat on my own. I have serious "burden" issues -i.e. I DON'T WANT TO BE ONE. That being said, I'm definitely not above accepting support in the form of a short term, interest free loan of $253.91! The amount is so specific because it's the amount of my 2 benefit expenses that are pending ($188.91 + $65.00). When they come in, I'll just sign them over to him. Going forward I'll make sure to have better foresight into my budgeting and to think not just of my income statement but also in terms of cash flow.

Without getting overly romantical (Allie's lexicon), S does make me want to be a better person and that's where a lot of my motivation to get out of debt comes from. I really appreciate his support. Once I dig myself out of this money pit, I'll be able to contribute to our long term financial goals instead of just monthly expenses. I'll also feel a lot better about eventually combining more of our finances because I won't feel like such a drain or that he's bailing me out.

The best part of this whole thing is that I'm back on track with my budget for this period and when my transit pass expenses do come in, I can put them directly into a side account for next month. Problem solved.

The Error Of My Ways

Clearly my personal budgeting has not matured yet, and it seems I've got myself in a bit of a bind. It's my expenses which are getting the best of me. When I was doing my budget, I didn't include $218.00 for 2 monthly transit passes (one for my boss, one for me) because they are refunded through my work expenses and now my bank account is way below my minimum balance.

Today I should have a at least $322.08 in my account but my bank balance is $94.01 - which is never going to last me until my next pay day. Especially since I have $53.00 coming out as the preauthorized minimum payment on my Visa on April 10th.

So $41.01 to last me through April 14th. Good one Allie, good one.

What to do... I could ask for a rush on my expense cheques but sometimes I think the AP clerk at my work goes every more slowly on purpose when my department requests a rush.

The other thing is that even if I got those cheques back, I'd just be in the same situation next month. In theory, those 2 cheques ($218 total) should go into my savings account this month so that next month I already have the funds banked and don't go through this again.

Aaaanyway, I guess these are the types of lessons I'm going to learn in managing my meager finances. Right now, my game plan is bank account freeze and cross all fingers and toes that my benefits reimbursement cheque for my dental cleaning ($188.91) come in quickly :)

First Patio Night of the Season

Last night S and I went out to catch up with a group of friends we hadn't seen in a while. They're all really great people and so it was the perfect time for me to try my new money saving experiment - being the DD.

I have to say, delicious success! It worked like a charm. I went out, had a great time with friends and how did it affect my bank account? ZERO affect. Kind of reminded me of my younger, single days when paying for drinks didn't happen very often, ha, belated thanks boys!

Yesterday, Thursday, was one of my no spend days so I was a bit hard-pressed to go out in the first place. But I hadn't seen these lovelies in a while and knew I would feel like a loser staying in. So, I decided to drink and be merry anyway - drink Sprite and be merry that is. Most bars & lounges give pop at no charge which this one did; Then add a slice of lime for the girlie affect and quickly I completely forgot that my bev was non-alcoholic. Alcohol is making me super tired these days anyway, so I had even more fun being sharp and alert.

This weekend is going to be fantastic! My dear cousins are in Toronto this weekend and it's so rare that I get the chance to see family (they're all back West). So tonight, I'm heading out with the fam - to my cousin's, girlfriend's, parent's house for dinner. It should be an inexpensive night... actually I should bring a bottle of wine. Oh, and I also need to bring a birthday gift.

Saturday, I'm going to an art show ($10), then to a concert which S already bought the tickets to. I may try my DD trick on Saturday as well. Then Sunday is grocery day and weather permitting, maybe go hiking, then hot yoga in the evening.

At some point, I'd like to try and make it to a spin class too. There's one at 9:30am on Saturday & Sunday and one at 10:30am on Saturday. Included in my gym membership!

Bare-bones weekend budget

Friday
Wine & b-day gift for cousin - $25.00

Saturday
Art show $10.00
Saturday concert - $5.00

Sunday
Groceries - $100
Hot yoga - $18.00

Total - $158.00

These Expenses are Keeling Me!

Over the past two days alone I have managed to incur $406.19 in expenses. Holy Smokes. 

(holy smokes...where on Earth did that expression come from anyway?)

The $406.19 is on top of some other expenses that are already outstanding and if all the cheques came in today, I'd be feeling like one rich lady. Unfortunately, that's not going to happen but I need to keep track to make sure none of them fall through the cracks.

Here's what I'm expecting back...

1) Dentist cleaning - $188.19 (benefits)

2) Transit pass - $109.00 March/09  (covered by work)

3) Transit pass - $109.00 April/09 (covered by work)

4) Transit pass for my boss - $109.00 April/09 (work)

5) Travel booster shot - $65.00 (benefits) 

Total: $580.19!!   Wow, I really wish that was in my bank account right now.

The travel booster was from S & my trip to Nicaragua and Costa Rica last summer. I got the typical vaccine shots before I went and at 6ish months later required a booster for Hepatitis. Now I'm hep-free for life.  We actually got married down there in a little surf lodge by the sea which was pure magic. We both love surfing and I can't wait to get back down there to improve my skills (when my budget eventually permits that is). Surfing is definitely something Toronto is lacking in, haha.

Has anyone reading this been to Nicaragua before? The insects are out of this world - like miniature aliens. When our group first arrived, we would panic every time one landed on us. But by the end it was like "Meh, I know there's a 3-inch green creature crawling up my t-shirt... whateves."