Wednesday, 28 September 2016

Weekly Column: New School Year, New Spending Plan

(Obviously, there's been a delay between my writing this for the local paper and my actually posting it here!)

New school year, new spending plan

Do you know exactly how much income your family has available every month? Do you know, within a few dollars, how much of that will be spent? Many people will answer “all of it” but might not know where all the money goes. If you are one of those people, creating a spending plan will help you track those dollars and also let you hang onto them for a lot longer.

Budgeting fatigue

Just like the word diet, talking about budgeting gives people a negative outlook as though they will be forced to sacrifice all the things they enjoy. Saving receipts and doing math might feel like one more nasty job at the end of a long day. But it is worth it to find out where your money goes every month. Use your bank statements and credit card bills and track all the cash spent by family members for a couple weeks (a month is better). Try one of the great budgeting resources found online: https://moneymentors.ca/home-budget/ (this one puts all your expenses in a pie chart) or www.gailvazoxlade.com/resources/interactive_budget_worksheet.html . Find a template that works for you and get started.

Budget vs spending plan

Once you know how much money comes into and leaves your household in a month, and you can see on paper whether you are coming up short, it is time to make a plan. The Money Mentors website defines a budget as “a spending plan that helps you get as much as you can from each dollar”. Seeing your expenses listed on paper can point out waste and unnecessary spending that might otherwise go unnoticed. Use a budget as a tool to cut excess costs, saving money for the things you want. It might not happen in the short-term but with hard work and persistence you will get there.

Write a list of some things you would like to purchase: a new vehicle, a house, a family vacation. Perhaps you would just like to build a small and large emergency fund for your family’s peace of mind. Put a dollar figure on each of your goals, then turn to your interactive budget worksheet and look hard for places to trim your spending. Remember, you will need to tackle outstanding debts, particularly credit card debt, before you get to the fun part of saving for your goals. But if you can free up even a few extra dollars a month, it will help get you where you want to go.

Easier said than done

If you’ve been underemployed for some time it must get frustrating to be told to budget better and everything will be alright. But making a plan and sticking to it gives a sense of control in uncertain times, which helps morale and prevents getting into a deeper hole than necessary. There are so many reasons to start tracking your money, one of which is only four months away: Christmas (no one wanted to hear that, sorry!). If you are out of money at the end of the month now, December will be no different…aside from the additional spending, that is. But if you can set aside some money every week starting now, hopefully you will avoid going further into debt with Christmas expenses.

And then there’s hot lunches

If you have school aged children then you’re familiar with unexpected and urgent last minute requests for money for sports, crafts, the list goes on. Have you made room in your plan for these unforeseen costs? Avoid derailment--factor a small amount of cash for school expenses into your budget even if it means going without your drive thru coffee every day. Focus on your long-term goal—a vacation, a massage, being debt-free—no matter how big or small your goal may be you’ll only get there one small step at a time. If certain costs are inevitable you must factor them into your list of expenses or you won’t see the results you are hoping for.


No matter what you call it, a spending plan or a budget, this is the way that people get themselves out of debt. Do you know a family that seems to weather every storm with relatively little change to their simple lifestyle? Do they still manage to have a vacation and pay their bills although their income has taken a hit? Are they independently wealthy or, more likely, do they plan how their money gets spent every month? Do they foresee upcoming and unexpected costs and save for them in advance? If you think that family would be comfortable discussing how they handle their money, approach them for tips and advice. Treat the new school year like a new beginning and start planning for the costs that are just around the corner.

Wednesday, 21 September 2016

Oh ya, I have a blog


The days are flying by around here. Our lives have gone from the slow dull grind of toddler monotony easier-to-stay-home-than-go-out-and-risk-a-meltdown (mine, not theirs). Suddenly, here we are with one kid off to school everyday and me and the other guy busy with sheep and pigs and the house and yard and even trying to do some sewing ;)

I feel like I am not sure what this blog is about anymore. I know I've mentioned that before so I won't go on and on. There's been no time to keep up with budgets and spreadsheets but as the garden and animals wind down for the year I hope to get back at it. I have lots of crafts and projects on the go that I'd like to share. It's a matter of figuring out how to put pictures on this blankety-blank blog! I've been out of the workforce a few years now and keeping up with technology is a real pain in my side. Most days I am tempted to do like my dad and reject it altogether (except that he literally has to get someone to change the radio station in the tractor for him). I guess I don't want to go that far with it.
But there's a fair amount of cursing happens at this desk :-)

For the longest while I had lost the camera. When I found it I promptly lost the cord to charge it. Now I have found the cord but the camera is at my mom's, where I took it to take pictures of my sweet baby nephew but forgot to. I am not even making this up. So although I have decided to say to h=ll with using my iphone to do pictures for the blog, I still don't have pictures until I get used to carrying a camera around again. Once I have it, that is.

We had our chickens butchered a few weeks ago. In my quest to teach my boys about where their food comes from I have created two part-time vegetarians. I suspect there will be more unintended consequences along my parenting journey, but we have 3 pigs nearing the end of their tenure here and I don't want to turn them off bacon for life. Although, "more for me" is a thought that does cross my mind.

The year's garden did well. I did not, however, succeed in keeping better records of what I grew and how much I harvested. I did not really even get pictures of it. But the yard is maturing and the spring will be a time to put some needed work into infrastructure by way of more stepping stone paths and hopefully the larger garden spot that I wanted this year but did not get. After that, the focus will be on maintaining what I have--better weed control--and getting the pond pump running. We had a very labour-intense spring this year and I hope never to repeat that. Some projects are to be expected, even wished for, but the work installing the rocks on our pillars and basement was a strain. Very expensive, very time consuming. Glad to have it done, though!


Front door: before

Front door: after 2 coats of paint

Petunia

Well lookie there, I just figured out how to put up a couple pics. Hopefully this is a sign of more good things to come :) I will put up another picture of the front door makeover when I finally get that last coat of paint done. Hope all is well for you :)

Monday, 12 September 2016

Weekly Column: Is your young adult ready for the real world?

Is your young adult ready for the real world?

Many young people are looking forward to leaving home in the next few weeks. Having graduated high school, they’re embarking on the next chapter in their lives: post-secondary education or the work force. Many may have already experienced working at a part-time job. Perhaps mom and dad encouraged them to save, discussed finances, opened up an RESP and have made sure their child is literate with money. But there are young adults out there who’ve never been taught to set aside money for necessities, emergencies, and the future—before spending on entertainment and “stuff”. Do young people read the paper? If they do, this column is for them!

Most people admit they have some regrets in their financial pasts. Whether it is not saving for retirement or a bad credit situation, these regrets can add stress to your life for a long time. Ensuring your children have an understanding of how credit works and illustrating for them how their savings will grow over the years is as much parenting as teaching them to cook and do laundry. Basically, you know your child is going to be an adult with bills and payments and income. Is that child equipped to make good decisions that benefit her future and will she have security as she sets out in the world on her own? There are some ways you can help.

moneymentors.ca

Money Mentors is an Alberta based, not-for-profit credit counselling agency. It aims to help families and individuals recover from financial crisis and move forward in their lives. They offer credit counselling, money coaching, retirement planning and teach financial literacy and, best of all, it’s free! Their site offers free online resources on a number of topics—debt management, choosing a credit counselling agency, organizing your finances, to name a few. They can teach you to set investment goals, write a home budget, or roll down your credit card debt. They offer free online courses like Budgeting Boot Camp and R & R Retirement. There is a course on this site for everyone if you have a computer and a few hours to dedicate to your financial well-being. If you can’t immediately get to the free courses, go to Resources on the top of the page and find Free Online Courses there.

Budget now, profit later

The Money Mentors site is intended for people in every stage of life, do give it a look—you are bound to learn something that helps you reach your financial goals. For the young adult today this site is a convenient way to review some money basics that might not have felt relevant while they were living with mom and dad. But the decisions they make in the next few years can either haunt them or benefit them for a long time to come. We could all heed the advice found on the site: 
1) track your spending 
2) automate your savings
3) save loose change 
4) learn to comparison shop 
5) avoid spending triggers
6) consider buying used 
7) save windfall income 
8) institute a waiting period before you buy 
9) consider the cost in hours you will work to pay for it 
10) be content with what you have.

Credit crisis

Many stores make credit seem so easy. 0% down, no payments for 6 months, we’ve all heard the appealing ads. It’s a great deal if you know for certain you can pay the whole bill off before you are charged the exorbitant interest after 6 months. A nightmare situation for a young person is buying their electronics on such a plan, heading off to university where they find they spend more money than they planned on social life and miss their first several payments. Now they have student loans, consumer debt, possibly no job, and a few years ahead of them where these credit issues are going to snowball into a problem that effects whether they can buy a house, start a family, and ever feel secure. Contrast that with a young adult who knows how much money they have available to them every month, pays the bills first, stashes a bit for emergencies or savings, and lives simply on what’s left over.  

It's never too late to learn


Sites like moneymentors.ca are refreshing to find in an online world where everyone is selling something. If you have been struggling to make ends meet it is worth your time to try a free online course and read through the resources there. Make reading and learning about financial fitness part of your routine and the good habits are sure to follow. If people starting out in life can get the financial knowledge they need before making poor decisions, who knows how far they can go.

Friday, 2 September 2016

Weekly Column: Preserving the season's harvest

Preserving the season’s harvest

Growing your own food is a great pastime because it gets people outside, provides exercise, puts you in tune with the changing seasons, and rewards you with delicious produce in the end. While just a hobby for most nowadays, it wasn’t that long ago that local families relied on their gardens to provide the bulk of their winter food supply. Although not usually a necessity anymore, given the year-round selection in grocery stores, many people still preserve their garden’s bounty so they can enjoy the fruits of their labour in the winter months.


Not a gardener? No problem. Trot yourself down to your local farmer's market and meet the folks that grow good food. You may feel that homegrown food is pricier than that at the grocery store, and maybe it is. But consider the labour that goes into growing, cleaning and setting up for a local sale. Consider that what you purchase has been locally grown and picked fresh within the last day or so. Compare this with grocery store produce that has been picked too early and trucked in from out of the country. There’s no comparison in flavour or quality, and if you would splurge on an ice cream cone don’t deny yourself the healthy pleasure of fresh vegetables. Like the saying goes “you can pay your farmer now or your doctor later”.

If you’re lucky enough to find yourself with an excess of fresh food and aren’t interested in preserving, don’t let it spoil on the counter if you can’t eat it all. Share with your neighbours, trade for other vegetables, or donate the surplus to a food bank so that it can be enjoyed at a free community meal.








Getting started

Even if you’ve never preserved food, there’s likely a method that will suit your tastes and abilities. Check out recipe books at the library or ask veteran cooks for their favourites. Be wary of what you find online: use only trusted sources that follow USDA guidelines. Pickling and preserving is not difficult but don’t take chances with botulism or spoiling your food.

slow roasting tomatoes

The Company’s Coming: Preserves cookbook by local author Jean ParĂ© is a great starting point for novice cooks and don’t forget to watch for cookbooks at used bookstores and thrift shops. While you’re thrifting, keep an eye out for boxes of good quality jars intended to withstand the heat and pressure of canning. Frugal home canners will note that the cost of jars is ever on the rise. At around $10 for a dozen quart sealers, it’s not cheap to start canning unless you can source your supplies more affordably.  You can buy lids and sealer rings separately for a substantial savings over the jars and lids you find at the grocery store at this time of year.

 If you’re cutting back on how much you preserve as you get older, perhaps you can think of someone that would appreciate some of your extra canning supplies. Likewise, if you’ve been given food in jars kindly wash and return them to the source in hopes that you might get lucky twice.
The price of sugar usually skyrockets when it’s time to make pickles and jams. Buy extra when you see it on sale, or even at regular price because it’s bound to get higher all season. Stock up on turmeric, mustard seed and other spices in the ethnic food aisle rather than the basic spices section—the bags are bigger and usually much cheaper.

A healthier option

Many would argue that the process of first growing, then preserving, their own food is of no savings at all once you consider your time and effort. On one hand, this is true. Buying canned vegetables and store bought pickles is quick and easy, and sometimes cheap. But if a person truly enjoys the time spent outdoors working in the fresh air and looks at it as a pastime that prevents costlier diversions, the benefits soon outweigh the costs.



Knowing what goes into the food your family eats has never been more important with chemicals and BPA so prevalent in commercially made products. Home preservation is another way people can take control of their diets and budget. There’s growing interest in the health benefits of fermented foods and the simple pleasure of handling your food from garden to table. Watch for deals on your canning supplies and enjoy the flavours of summer year-round for less.