Just over a year ago, I had a conversation with someone about volunteering. I had just been accepted as a volunteer at the London Olympics, and was really excited about it. It seems my enthusiasm wasn't universally shared, however. "Why would you volunteer?" he asked me. "Isn't your time worth something? Why would you work for free?"
It was a perspective I'd never considered before. To me a volunteering role and a job are two different things. You get paid in money with a job, and not in a volunteer position. But that doesn't mean I'm giving away my time for no compensation!
You see, I view volunteer roles as belonging to more of a barter economy. You put forward hours of time and work, and get compensated in material things, such as travel compensation, free lunch, uniform, and other free experiences, as suits. For example, I got to see a free Olympic event over the summer. Other volunteering roles may allow you free access to concerts, expos, or tourism sites. Sometimes you may receive a small thank-you in the form of a gift certificate.
But the biggest and most important compensation you receive from volunteering is experience. So many jobs now-a-days ask for previous experience or multiple references. For many people, the (il)logical loop is, without the job you can't get the experience. And without the experience, you can't get the job. So how to start? One really great way is through volunteering. Are you interested in nursing or helping people with mental health problems? Volunteer at a nursing home or a hospital or on a telephone helpline for a bit. Need management experience? Offer to take on more responsibility within an existing volunteer position.
I always try to have at least one volunteering role all times. This way, I show that I'm an eager worker, I increase my base of contacts and potential references, I add skills to my resume, and I am able to fill any gaps left by lack of employment, if necessary.
I've never understood the concept of my time being valuable solely in monetary terms. In fact, in many instances, the experience and experiences I have received through volunteering roles are worth more than monetary, hourly compensation. They have gained me paid employment. They have opened my eyes to new thought processes. They have allowed me to meet some incredible characters. I wouldn't change them for the world, and I will never stop volunteering my oh-so-precious time, as long as I have time to give.
NOTE: this tip is purely about volunteering. My views on unpaid internships, and forced working for companies who should be paying a fair wage are very different.
Showing posts with label tip. Show all posts
Showing posts with label tip. Show all posts
Monday, 11 March 2013
Friday, 22 February 2013
Tip #22 - Buy a farm share
It's that time of year when you can juuuuuuust about smell spring in the air, but there's still snow on the ground. That time of year when the days are getting longer but still not long enough. That time of year when you start thinking about how nice it will be when fresh fruit and vegetables start growing again.
For those of us who aren't lucky enough to be able to "grow our own" for reasons of time, money, or simple lack of garden space, a great alternative is to buy a farm share or participate in a community farming association. Community Supported Agriculture programmes are available in several countries and regions. Just google "CSA [your area]" to find one near you. By doing this, I've found CSA farms in many Canadian provinces and US states, as well as in England.
Here's the basic principle:
A farmer sells a certain number of "shares" to individuals in the community.
Individuals purchase these shares in late winter or early spring (aka NOW), providing farmers with starter income for the upcoming season.
The farmer then provides its shareholders with weekly or bi-weekly 'baskets' of produce from the farm throughout the production season. Shareholders usually have to pick up their shares at a pre-determined location.
However, if the farm has a good season, shareholders can make gains too, as the equivalent cost of the produce is higher than the initial cost of the share.
So you're supporting local farmers, and getting discounted produce at the same time. Oh, and did I mention that these farms often use organic methods, and many are actually certified organic? Sounds like win-win-win to me!
IMPORTANT NOTE: This is a gamble. If there is a poor harvesting season, or if the farmer is unable to maintain the farm for whatever reason, you may not receive your food. Read the terms and conditions of the shares closely before you buy to make sure you understand the potential risks.
Look around to find a farm which suits your needs. There are certified organic farms, there are some which allow you to substitute fresh produce with preserves, there are some which provide smaller baskets, or more flexibility, or who offer home delivery. Some also provide meat or eggs. Also consider the growing period - some farms grow produce with a smaller harvesting window, so will provide you with fewer baskets through the summer, whereas others will continue into the fall.
This year, I'm splitting a farm share with a friend. Each share should be enough to satisfy both of us and then some. We're getting 23 weeks' worth of baskets, starting in May. You can be sure there will be photos in good time! I can't wait!
For those of us who aren't lucky enough to be able to "grow our own" for reasons of time, money, or simple lack of garden space, a great alternative is to buy a farm share or participate in a community farming association. Community Supported Agriculture programmes are available in several countries and regions. Just google "CSA [your area]" to find one near you. By doing this, I've found CSA farms in many Canadian provinces and US states, as well as in England.
Here's the basic principle:
A farmer sells a certain number of "shares" to individuals in the community.
Individuals purchase these shares in late winter or early spring (aka NOW), providing farmers with starter income for the upcoming season.
The farmer then provides its shareholders with weekly or bi-weekly 'baskets' of produce from the farm throughout the production season. Shareholders usually have to pick up their shares at a pre-determined location.
However, if the farm has a good season, shareholders can make gains too, as the equivalent cost of the produce is higher than the initial cost of the share.
So you're supporting local farmers, and getting discounted produce at the same time. Oh, and did I mention that these farms often use organic methods, and many are actually certified organic? Sounds like win-win-win to me!
IMPORTANT NOTE: This is a gamble. If there is a poor harvesting season, or if the farmer is unable to maintain the farm for whatever reason, you may not receive your food. Read the terms and conditions of the shares closely before you buy to make sure you understand the potential risks.
Look around to find a farm which suits your needs. There are certified organic farms, there are some which allow you to substitute fresh produce with preserves, there are some which provide smaller baskets, or more flexibility, or who offer home delivery. Some also provide meat or eggs. Also consider the growing period - some farms grow produce with a smaller harvesting window, so will provide you with fewer baskets through the summer, whereas others will continue into the fall.
This year, I'm splitting a farm share with a friend. Each share should be enough to satisfy both of us and then some. We're getting 23 weeks' worth of baskets, starting in May. You can be sure there will be photos in good time! I can't wait!
Sunday, 3 February 2013
Tip #21 - Take advantage of your supermarket... legally
I went food shopping today! For most people, that's a pretty boring task. But for me, it's always an adventure, even more so since I started on my $35/week budget. Delicious-looking food seems to jump off the shelves, trying to force their way into my basket, and I have to fend off the onslaught.
I've found that the best way to spend as little money as possible in the supermarket is to know my supermarket's secrets - the ins and outs of their pricing and specials, to take full and legal advantage of what they have to offer.
Of course, the most famous example of taking large-scale legal advantage of supermarkets is from the TV show Extreme Couponing. This works very well in many US states, but not so well where I live. Coupons really don't exist to the same extent, and are only offered on brand name products, and the savings are often small.
Instead I use two tricks which have served me well in both the UK and back in Canada: reduced for sale items and multibuy offers.
Reduced for sale
These items are reaching their best-before or sell-by dates, and stores need to clear them out quickly. They may be placed in a separate section, or have identifying stickers stating the percentage reduction or the new price. In England, these stickers seemed to be universally yellow, but in the supermarket nearest to me now, they're giant and pink (often covering up the product name or description!)
When buying reduced for sale items, check the best before date. This could be a few days away, but the product will still be edible even after this date. If the product has a use-by date, make sure you will consume the entire product before that date.
Any item which is reduced for sale and which can be frozen (such as meat or bread) is an even better bargain! Put the meat into a freezer bag (in portions, if it's chicken breasts or thighs, or ground meat) and stick it in the freezer until you will use it. Then, fully defrost when desired and cook it immediately. Bread will last at least a few days after defrosting.
Sometimes these reductions take place at specific times during the day or week. A few hours before closing is often a good time - as the store tries to get everything sold as fast as possible.
Today I got lucky and found some reduced for sale yoghurt (best before the 7th) and orange juice (best before the 6th), both reduced by 50%. In fact, since the orange juice's reduction didn't go through at the check-out, I got a 100% reduction from customer services!
Multibuy offers
These can be useful, but also dangerous. Investigate the available multibuys before you get to the supermarket, either online or through the store's weekly flyer. Multibuy offers can lure you into the exhilarating feeling of getting a bargain, even when you don't need the item, and planning ahead will help you avoid these temptations.
Multibuys on pantry essentials are especially good. Stock up when the items are cheap. If there are multibuys for fresh produce, use it as an excuse to eat more fruit and vegetables or try new things. But make sure you use them! A multibuy offer is no good if the food goes to waste.
I'm having particular fun with multibuy offers in Canada, because the laws here seem to require multibuy pricing to extend to the individual items. So, for example, a 2 for $5 deal means that each item must be individually priced at $2.50 each. So my box of cereal, normally $5.58, currently on offer at 2 for $6, cost me only $3, even though I only bought one! Fantastic!
These are just two examples of ways to get the most out of your supermarket, which are well used in both Canada and the UK. Are there any tricks that you use?
I've found that the best way to spend as little money as possible in the supermarket is to know my supermarket's secrets - the ins and outs of their pricing and specials, to take full and legal advantage of what they have to offer.
Of course, the most famous example of taking large-scale legal advantage of supermarkets is from the TV show Extreme Couponing. This works very well in many US states, but not so well where I live. Coupons really don't exist to the same extent, and are only offered on brand name products, and the savings are often small.
Instead I use two tricks which have served me well in both the UK and back in Canada: reduced for sale items and multibuy offers.
Reduced for sale
These items are reaching their best-before or sell-by dates, and stores need to clear them out quickly. They may be placed in a separate section, or have identifying stickers stating the percentage reduction or the new price. In England, these stickers seemed to be universally yellow, but in the supermarket nearest to me now, they're giant and pink (often covering up the product name or description!)
When buying reduced for sale items, check the best before date. This could be a few days away, but the product will still be edible even after this date. If the product has a use-by date, make sure you will consume the entire product before that date.
Any item which is reduced for sale and which can be frozen (such as meat or bread) is an even better bargain! Put the meat into a freezer bag (in portions, if it's chicken breasts or thighs, or ground meat) and stick it in the freezer until you will use it. Then, fully defrost when desired and cook it immediately. Bread will last at least a few days after defrosting.
Sometimes these reductions take place at specific times during the day or week. A few hours before closing is often a good time - as the store tries to get everything sold as fast as possible.
Today I got lucky and found some reduced for sale yoghurt (best before the 7th) and orange juice (best before the 6th), both reduced by 50%. In fact, since the orange juice's reduction didn't go through at the check-out, I got a 100% reduction from customer services!
Multibuy offers
These can be useful, but also dangerous. Investigate the available multibuys before you get to the supermarket, either online or through the store's weekly flyer. Multibuy offers can lure you into the exhilarating feeling of getting a bargain, even when you don't need the item, and planning ahead will help you avoid these temptations.
Multibuys on pantry essentials are especially good. Stock up when the items are cheap. If there are multibuys for fresh produce, use it as an excuse to eat more fruit and vegetables or try new things. But make sure you use them! A multibuy offer is no good if the food goes to waste.
I'm having particular fun with multibuy offers in Canada, because the laws here seem to require multibuy pricing to extend to the individual items. So, for example, a 2 for $5 deal means that each item must be individually priced at $2.50 each. So my box of cereal, normally $5.58, currently on offer at 2 for $6, cost me only $3, even though I only bought one! Fantastic!
These are just two examples of ways to get the most out of your supermarket, which are well used in both Canada and the UK. Are there any tricks that you use?
Wednesday, 23 January 2013
Tip #20 - Cook in bulk, freeze in portions
I started a crazy budget plan last week. When I first planned it out I was positive the hardest category would be the food. I mean, $35/week for food? That's not a whole lot, right? Boy was I wrong.
Though I have gone over my weekly food limit for both weeks, that was mainly due to my stocking my cupboards with staples, spices, etc. In fact, I'll probably only spend about $15 next week, and that's partly because butter is on sale and I plan to stock up.
The way I've managed this is by first buying and cooking in bulk. I'm not talking about bulk in the normal sense - there are no 5kg bags of pasta or rice in my cupboards. But for my only mouth to feed, I certainly don't need 3kg of ground beef. But it was on sale, so I bought it. And then froze it in two 1.5kg batches. I also bought a whole chicken (also on sale - see how this works?) and froze it.
The next step is to cook in bulk. I'll make portions big enough for an entire family, even though it's just me eating. I take what I want for my meal, then separate the rest into freezer containers. This way, my food stays fresh, and future preparation takes all of three minutes.
In the past two weeks I've made:
- A giant pot of pasta sauce (9 servings)
- A shepherd's pie (4 servings)
- Squash soup (5 servings)
- Carrot soup (5 servings)
- Whole chicken (1 serving + 2 pots of leftovers)
- Chicken and vegetable soup (5 servings, from various leftovers)
- 2 loaves of bread (1 frozen)
- 2L of granola (this is about what I'll eat in a week and a half; no freezing required, but is possible)
I'll also admit to the fact that I also have frozen perogies as a lazy-day meal.
My normal shopping day is Saturday (only 2 days away), yet my freezer is full, and so is my fridge. So I will likely not need to buy anything aside from my butter this week. And maybe treat myself to some pickles. I know, I'm pretty intense.
This trend may change eventually. I may find that, one day, $35 is just not enough to feed me for the week. But for now, I'm buying in bulk, cooking in bulk, and freezing in portions.
Extra added bonus time: home-cooked food has made me feel incredibly full. I'm eating less by volume than I normally would. If I had a set of scales, I'd guess I'm probably losing weight too. So I'm saving money and taking care of my body too!
Though I have gone over my weekly food limit for both weeks, that was mainly due to my stocking my cupboards with staples, spices, etc. In fact, I'll probably only spend about $15 next week, and that's partly because butter is on sale and I plan to stock up.
The way I've managed this is by first buying and cooking in bulk. I'm not talking about bulk in the normal sense - there are no 5kg bags of pasta or rice in my cupboards. But for my only mouth to feed, I certainly don't need 3kg of ground beef. But it was on sale, so I bought it. And then froze it in two 1.5kg batches. I also bought a whole chicken (also on sale - see how this works?) and froze it.
The next step is to cook in bulk. I'll make portions big enough for an entire family, even though it's just me eating. I take what I want for my meal, then separate the rest into freezer containers. This way, my food stays fresh, and future preparation takes all of three minutes.
In the past two weeks I've made:
- A giant pot of pasta sauce (9 servings)
- A shepherd's pie (4 servings)
- Squash soup (5 servings)
- Carrot soup (5 servings)
- Whole chicken (1 serving + 2 pots of leftovers)
- Chicken and vegetable soup (5 servings, from various leftovers)
- 2 loaves of bread (1 frozen)
- 2L of granola (this is about what I'll eat in a week and a half; no freezing required, but is possible)
I'll also admit to the fact that I also have frozen perogies as a lazy-day meal.
My normal shopping day is Saturday (only 2 days away), yet my freezer is full, and so is my fridge. So I will likely not need to buy anything aside from my butter this week. And maybe treat myself to some pickles. I know, I'm pretty intense.
This trend may change eventually. I may find that, one day, $35 is just not enough to feed me for the week. But for now, I'm buying in bulk, cooking in bulk, and freezing in portions.
Extra added bonus time: home-cooked food has made me feel incredibly full. I'm eating less by volume than I normally would. If I had a set of scales, I'd guess I'm probably losing weight too. So I'm saving money and taking care of my body too!
Monday, 21 January 2013
Tip #19 - Cold-fighting on a budget
It's that time of year. I've got a cold. It's not the worst cold I've ever had. It's not a full-frontal assault, but more of a long, drawn out feeling of unwellness, slowly sapping my strength.
I used to run out to the drug store for expensive medication as soon as I felt the first sign of a stuffy nose. But I just can't afford those at the moment. So what to do?
Get lots of sleep
Sleep is absolutely, hands-down the best cure for a cold. Your body needs time to fight the viruses attacking it, and can't do that when it's over-tired.
Last night, I managed to sleep for 11 3/4 hours. I feel SO MUCH BETTER this morning.
I understand, however, that it's not always possible to sleep as much as that. You may have work or child commitments, for example. If this applies to you, make sure you get as much sleep as physically possible. Take naps during the day when you can. Miss out on that drink with your friends. Take a rain-cheque on that sports game.
If you keep forcing yourself to continue as if you weren't sick, your cold will drag on longer.
Oh, and work-time aside, sleep is completely, 100% free.
Drink lots of fluids
This sounds really obvious. But it has to be stated.
Fluids do NOT include: alcohol, coffee, sugary soft drinks (one exception, see below), sugary fruit juices, and it's best to avoid milk.
Fluids DO include: pure fruit juices, water, uncaffeinated herbal tea, water, and mixes like hot lemon and honey, hot lemon and ginger, and cranberry juice and gingerale, and more water.
Water, natural fruit juices which contain vitamin C, and ginger are all helpful to kick your immune system into action.
No-sugar added cranberry juice mixed ginger ale is a remedy I learned from a Chinese woman who owned a corner store near where I used to live in university. She saw me come in, still in my pyjamas, with a runny red nose, panic-buying throat lozenges and kleenex. Bad look. Simply mix the cranberry juice and ginger ale at a 1-1 ratio. The ginger and vitamin C both help fight your cold, and the bubbles help break up mucus. The science may be questionable, but it works.
Currently, I'm too cheap even for cranberry juice and ginger ale. So I'm drinking LOADS of water, with slices of lemon cut into it. The lemon slices help me get my vitamin C, and the citric acid helps my throat (at least, it seems to!)
Change humidity levels
If you're congested, I've always found the best way to ease some of the pressure is to change the humidity of the air around you. This can be with the help of a humidifier, but you could also use a kettle or a hot mug of tea, take a hot shower or bath, or go for a walk. The humidity levels between inside and outside will be very different, and will help you out in the short term.
Chicken soup for your soul
Chicken soup actually does have medicinal benefits when it comes to colds and flu. Yummy and good!
Gargle with salt water
If you have a sore throat as part of your cold fun, gargle with warm water mixed with a table spoon of salt. It tastes disgusting, but it works by sterilizing your throat and helping to kill some of the bacteria.
I also find that other salty food have the same result. Dill pickles and pot noodles are my two favourites. Just be careful if you are on a low-sodium diet.
Make sure you eat
Being sick can cause you to lose your appetite. But you absolutely need to eat. Your body needs calories and vitamins. So anything you can take in will help. Potatoes, lentils, red meat, green vegetables, and fruits are all full of lots of vitamins which your body needs. Last night for example I had a baked potato with spaghetti Bolognese sauce and cheese. It was just the right size, and very medicinal.
If you're on a diet, it may have to go out the window for the worst part of the cold. I'm not saying you should eat processed food. But most celebrity fad diets barely contain the number of calories required to get through a day normally, let along while sick. So eat up!
If all else fails...
If your cold is like the raging fire of hell, and you can't go on without some over-the-counter intervention, try to stick with store brands. The contents will be the same, the result will be the same, but your wallet will thank you.
Are there any home remedies that I've missed? Let me know!
I used to run out to the drug store for expensive medication as soon as I felt the first sign of a stuffy nose. But I just can't afford those at the moment. So what to do?
Get lots of sleep
Sleep is absolutely, hands-down the best cure for a cold. Your body needs time to fight the viruses attacking it, and can't do that when it's over-tired.
Last night, I managed to sleep for 11 3/4 hours. I feel SO MUCH BETTER this morning.
I understand, however, that it's not always possible to sleep as much as that. You may have work or child commitments, for example. If this applies to you, make sure you get as much sleep as physically possible. Take naps during the day when you can. Miss out on that drink with your friends. Take a rain-cheque on that sports game.
If you keep forcing yourself to continue as if you weren't sick, your cold will drag on longer.
Oh, and work-time aside, sleep is completely, 100% free.
Drink lots of fluids
This sounds really obvious. But it has to be stated.
Fluids do NOT include: alcohol, coffee, sugary soft drinks (one exception, see below), sugary fruit juices, and it's best to avoid milk.
Fluids DO include: pure fruit juices, water, uncaffeinated herbal tea, water, and mixes like hot lemon and honey, hot lemon and ginger, and cranberry juice and gingerale, and more water.
Water, natural fruit juices which contain vitamin C, and ginger are all helpful to kick your immune system into action.
No-sugar added cranberry juice mixed ginger ale is a remedy I learned from a Chinese woman who owned a corner store near where I used to live in university. She saw me come in, still in my pyjamas, with a runny red nose, panic-buying throat lozenges and kleenex. Bad look. Simply mix the cranberry juice and ginger ale at a 1-1 ratio. The ginger and vitamin C both help fight your cold, and the bubbles help break up mucus. The science may be questionable, but it works.
Currently, I'm too cheap even for cranberry juice and ginger ale. So I'm drinking LOADS of water, with slices of lemon cut into it. The lemon slices help me get my vitamin C, and the citric acid helps my throat (at least, it seems to!)
Change humidity levels
If you're congested, I've always found the best way to ease some of the pressure is to change the humidity of the air around you. This can be with the help of a humidifier, but you could also use a kettle or a hot mug of tea, take a hot shower or bath, or go for a walk. The humidity levels between inside and outside will be very different, and will help you out in the short term.
Chicken soup for your soul
Chicken soup actually does have medicinal benefits when it comes to colds and flu. Yummy and good!
Gargle with salt water
If you have a sore throat as part of your cold fun, gargle with warm water mixed with a table spoon of salt. It tastes disgusting, but it works by sterilizing your throat and helping to kill some of the bacteria.
I also find that other salty food have the same result. Dill pickles and pot noodles are my two favourites. Just be careful if you are on a low-sodium diet.
Make sure you eat
Being sick can cause you to lose your appetite. But you absolutely need to eat. Your body needs calories and vitamins. So anything you can take in will help. Potatoes, lentils, red meat, green vegetables, and fruits are all full of lots of vitamins which your body needs. Last night for example I had a baked potato with spaghetti Bolognese sauce and cheese. It was just the right size, and very medicinal.
If you're on a diet, it may have to go out the window for the worst part of the cold. I'm not saying you should eat processed food. But most celebrity fad diets barely contain the number of calories required to get through a day normally, let along while sick. So eat up!
If all else fails...
If your cold is like the raging fire of hell, and you can't go on without some over-the-counter intervention, try to stick with store brands. The contents will be the same, the result will be the same, but your wallet will thank you.
Are there any home remedies that I've missed? Let me know!
Friday, 11 January 2013
Tip #18 - Make a Budget
Tomorrow's a big day for me! I'm moving into a shared two bedroom apartment, so for the first time in several months I can actually budget some expenses. Living without a fixed address can be expensive because it's hard to plan where all your money will go, and how much you will have at the end of the month.
I've decided that, because I have an unsteady income through self-employment, I would set myself a strict budget which I know I can manage for at least six months on my current account balance. That amount is $1000 Canadian per month. This will be really really hard, but I think I can do it.
To make a basic budget, follow these simple steps:
1- If you can, write down how much you make each month.
2- Write down your fixed expenses: These are things which are not optional, which have a fixed monthly or yearly cost, and which can't be negotiated. Things like mortgage, rent, car payment.
[3- Write down your debt repayment costs: If you have debts, you need to make note of how much this is costing you each month. Total debt repayment shouldn't be much more than 8% of your income unless you're amazingly rich. It must be manageable - without only paying the minimum amount.]*
4- Write down your non-luxury variable expenses: Things like food, phone bill, Internet, transportation (gas, bus pass), and insurances come into this category. These expenses are ones which you have some flexibility over how much to spend, but still have to be paid each month.
5- Write down your luxury expenses: Beauty costs, entertainment, sporting events, clothing all fall into this category. I would personally put a gym membership here too, but that's up for debate depending on your situation.
6- Write down how much you are putting aside in savings and/or retirement each month. This can't be 0!
*Note: I put #3 in brackets because, like myself, you may have no debts. This should mean more money in #5 ;)
The total of 2-6 shouldn't exceed the number in 1 - if it does, you will simply increase your debts further. To fix this, go through your luxury and non-luxury variable expenses to see where you can cut back. This may take some time and effort, and may well be very difficult. It requires a very future-oriented thought process. You need to know why you want to save more money, why it will be beneficial in the future, to your family or to yourself.
7- STICK TO YOUR BUDGET
Because of my uncertain income, I came at my own budget in a slightly different way, by deciding how much I was willing and able to spend each month, and working backwards to see how much I could spend in each category.
Here is my final monthly budget:
So that's a pretty tight budget. You'll notice that I have no line in there for "savings" - that's because, since I don't have a steady income, I plan on putting everything outside the $1000/month into savings. (What can I say, I'm a saver!)
I will be posting quite a bit about how I've managed to stay within this budget. I think the food bit will be the hardest. $35/week for food just doesn't go very far, despite food not being taxed in Canada. I'm slightly cheating by stocking up with "essentials" using Christmas money (about $125 worth), but otherwise all my food will have to fit within this budget. Wish me luck!
I've decided that, because I have an unsteady income through self-employment, I would set myself a strict budget which I know I can manage for at least six months on my current account balance. That amount is $1000 Canadian per month. This will be really really hard, but I think I can do it.
To make a basic budget, follow these simple steps:
1- If you can, write down how much you make each month.
2- Write down your fixed expenses: These are things which are not optional, which have a fixed monthly or yearly cost, and which can't be negotiated. Things like mortgage, rent, car payment.
[3- Write down your debt repayment costs: If you have debts, you need to make note of how much this is costing you each month. Total debt repayment shouldn't be much more than 8% of your income unless you're amazingly rich. It must be manageable - without only paying the minimum amount.]*
4- Write down your non-luxury variable expenses: Things like food, phone bill, Internet, transportation (gas, bus pass), and insurances come into this category. These expenses are ones which you have some flexibility over how much to spend, but still have to be paid each month.
5- Write down your luxury expenses: Beauty costs, entertainment, sporting events, clothing all fall into this category. I would personally put a gym membership here too, but that's up for debate depending on your situation.
6- Write down how much you are putting aside in savings and/or retirement each month. This can't be 0!
*Note: I put #3 in brackets because, like myself, you may have no debts. This should mean more money in #5 ;)
The total of 2-6 shouldn't exceed the number in 1 - if it does, you will simply increase your debts further. To fix this, go through your luxury and non-luxury variable expenses to see where you can cut back. This may take some time and effort, and may well be very difficult. It requires a very future-oriented thought process. You need to know why you want to save more money, why it will be beneficial in the future, to your family or to yourself.
7- STICK TO YOUR BUDGET
Because of my uncertain income, I came at my own budget in a slightly different way, by deciding how much I was willing and able to spend each month, and working backwards to see how much I could spend in each category.
Here is my final monthly budget:
Rent: $430 (all inclusive, including Internet and cable)
Phone: $46 (after taxes)
Food: $148.75 ($35/week)
Transportation: $106.25 ($25/week)
Entertainment: $63.75 ($15/week)
Clothing and gifts: $63.75 ($15/week)
Other: 141.50 (includes insurance, sundries, and any 'float' needed in other categories)
Total: $1000
So that's a pretty tight budget. You'll notice that I have no line in there for "savings" - that's because, since I don't have a steady income, I plan on putting everything outside the $1000/month into savings. (What can I say, I'm a saver!)
I will be posting quite a bit about how I've managed to stay within this budget. I think the food bit will be the hardest. $35/week for food just doesn't go very far, despite food not being taxed in Canada. I'm slightly cheating by stocking up with "essentials" using Christmas money (about $125 worth), but otherwise all my food will have to fit within this budget. Wish me luck!
Tuesday, 1 January 2013
Tip #17 - A stitch in time saves... money?
This is a rather targeted blog post. Targeted to one person (you know who you are ;P) but applicable to many, many people, myself included!
A few weeks ago, I wrote about how brand names in food and cleaning products didn't necessarily result in an improvement in quality, but definitely an increase in price.
The same can be said for clothing, where the glut of high street "brands" has led to lowering prices and an increased emphasis on style (what will be the new black in 2013?). But that has also come with a staggering decrease in overall quality.
I have a rant about linings and how terrible they are these days, but it's not worth putting here. Suffice it to say, too many of the clothes that I've bought from standard high-street stores have fallen apart in some irreparable way (and I can mend clothes!) before what I feel is their time.
Recently, I started looking at things a bit differently. If clothes now-a-days are cheap in price and quality, what happens when we go up the price ladder. Will we go up the quality ladder, too? The answer is usually yes, but to a point. Here's a rough paint-graph of how this works, with cost in blue and quality in red. Ok, ok, it's not scientific and is based on experience rather than fact, but I find that, while costs can increase exponentially, quality kind of plateau's at a certain point. Beyond that point, you're paying for the name or the style.
So here's the thing. When considering new items, if you buy too far down the cost line, the quality will be poor and you will have to replace the item soon. If you buy too far up, then you're adding cost with no beneficial return. The trick is to try and even out the two - to buy an item that will last a long enough time to balance out the increased cost and then some.
I have several examples from my own life:
A few weeks ago, I wrote about how brand names in food and cleaning products didn't necessarily result in an improvement in quality, but definitely an increase in price.
The same can be said for clothing, where the glut of high street "brands" has led to lowering prices and an increased emphasis on style (what will be the new black in 2013?). But that has also come with a staggering decrease in overall quality.
I have a rant about linings and how terrible they are these days, but it's not worth putting here. Suffice it to say, too many of the clothes that I've bought from standard high-street stores have fallen apart in some irreparable way (and I can mend clothes!) before what I feel is their time.
Recently, I started looking at things a bit differently. If clothes now-a-days are cheap in price and quality, what happens when we go up the price ladder. Will we go up the quality ladder, too? The answer is usually yes, but to a point. Here's a rough paint-graph of how this works, with cost in blue and quality in red. Ok, ok, it's not scientific and is based on experience rather than fact, but I find that, while costs can increase exponentially, quality kind of plateau's at a certain point. Beyond that point, you're paying for the name or the style.
I have several examples from my own life:
First, my purse. My purse (handbag to avoid confusion) is a mid-range designer brand. It cost ₤148, which is REALLY EXPENSIVE. But it has now lasted me for a year and a half, which is longer than my previous four purses put together. In fact, if I had continued with the cheaper quality purses, I would have spent more in that year and a half on purses than on my designer one. And I plan on keeping it until it falls apart, hopefully another year and a half.
Second, my coat. In fact, my coats, since I have had good luck with coats. One coat cost me $220 and lasted me 10 years. A lot of money on a coat, but averaged out to $22/year, it's incredibly affordable. My current coat cost ₤127 on sale, and is a very formal wool cashmere blend. This is it's second winter in action, but the lining is still in one piece and it still looks fantastic despite some heavy use. It's vastly better than the ₤98 coat that I bought the year before, which looked old after just one year's use; and it had a hole in one pocket!
Finally, my computer. Going into my final year of university, I managed to kill my third laptop in a year and a half. I'm abusive to computers. I type fast, I eat and drink while I'm on them, I drop them off sofas. Essentially, I put them through a lot, and the cheapy-cheap ones just couldn't put up with me. So, despite protestations by my step-father, I shelled out on a $1500 laptop, which included a $300 warranty. THAT'S A LOT OF MONEY HOLY CRAP! But here's the thing: it has a shock-proof hard drive, so it's sofa-drop proof. It has a spill-proof keyboard so it won't fry. And it's got steel hinges, so I can open and close it as often as I like. Basically, it's me-proof. And it's lasted over 3 years. That's now less than $500/year. Which is incredibly affordable for a computer. The only problems are: the fan is going slightly, I had to replace the battery and the new one isn't always recognized but it works, and one of my sofa drops recently knocked out the microphone. But otherwise it's as fast as it has always been, and that's what matters.
I suppose my point here is that brand names or increased prices don't always mean increased quality. You have to search for the balance, and, when you find it, keep the products going so they are cheaper over time. Do the research, have a good feel of fabrics, check the seams, and know yourself - if I was more careful with electronics, I wouldn't have spent so much on my computer, but I knew I couldn't do that.
Happy New Year's everyone! I hope your resolution includes spending less money!
P.S. If you're yelling at your computer that I forgot about second hand or vintage clothing, don't worry. That's on my list for a future post ;)
I suppose my point here is that brand names or increased prices don't always mean increased quality. You have to search for the balance, and, when you find it, keep the products going so they are cheaper over time. Do the research, have a good feel of fabrics, check the seams, and know yourself - if I was more careful with electronics, I wouldn't have spent so much on my computer, but I knew I couldn't do that.
Happy New Year's everyone! I hope your resolution includes spending less money!
P.S. If you're yelling at your computer that I forgot about second hand or vintage clothing, don't worry. That's on my list for a future post ;)
Friday, 14 December 2012
Tip #15 - Fun for free
I got really annoyed the other day by a commercial for a new board game called "telestrations". It's currently retailing at about ₤20. It involves one person picking a word or common phrase and drawing a picture of it, then passing it to the next person, who guesses the word or phrase and passes to the next person, who draws a picture based on that guess, and so on.
What annoyed me so much is that my friend Michelle taught me how to play this game using a ripped piece of paper folded like an accordian and a pencil, and I've used it in ESL classes as a fun way to teach certain verb tenses or idioms. It costs absolutely nothing, yet some company is trying to copyright it and charge a rediculous amount of money for it! So I started thinking about what other fun group activities I've played which cost nothing (many of which have since been copyrighted by greedy toy companies). Most of these won't be a surprise to many, but in an increasingly commercialized world I thought it would be nice to compile some of the more simple joys of large gettogethers. Perhaps this list can be useful for free family fun this Christmas!
Charades: Physically acting out a common word or short phrase or idiom. Talking is not allowed. If you've somehow never heard of charades, look on youtube for some hilarious examples.
Possible variations: Either the group gets together to write various phrases on bits of paper, and the person who's "in" picks one out at random, or (as my boyfriend insists is the correct way) if someone has an idea they just "have a go". It can also be played as a competitive team game or a free-for-all.
Pictionary: Similar to charades, but instead of physically acting out a word or phrase, it is drawn. No words are allowed, either spoken or written. There is usually a time limit, but this may be forfeited when small children are playing.
Possible variations: Same as above; Using an easle, whiteboard or chalkboard for a bigger picture; Using plasticine to create 3D models of the word or phrase.
Who am I?: Everyone writes the name of a famous person on a sticky note, and are randomly assigned to place the sticky note on another player's head. Each player then has to ask yes/no questions to find out who the famous person is.
Possible variations: You could do certain categories, such as athletes, politicians, etc.; Playing in teams, where, like charades or pictionary, the player pulls a famous person out of a hat and has to describe them to their team;
20 Questions: The player thinks of a noun (proper or not), and answers up to 20 yes/no questions until the group figures out what they have thought of. If they get to 20 questions without guessing correctly, the player wins.
Possible variations: "He(She)'s a he(she) and he(she)'s dead/alive" My Mum's family used to play this one when she was a kid, essentially 20 Questions but narrowing to only famous people.
Categories: We played this in English class. Grade 12 English class, to be exact, and yes at age 17/18 it was awesome fun. Players sit in a circle (or some sort of identifyable order). Each player in turn names something in a specific category, such as items of clothing, fruit, animals, etc. Too much pausing results in the person being "out" and a new category being chosen.
Possible variations: Alphabetized, where each sequential item has to be the next letter of the alphabet (ex: Apple - Banana - etc); Clappng game version, where a pattern is started before the start of the game - in English class, we used *knee slapp*knee slapp*clap*clap*snap*snap* - during the *snap*snap* section of the pattern was the time where the individual had to state their contribution
Hide-and-seek: this requires a big enough house or outdoor area, and areas such as the kitchen should probably be out of bounds for the kids, but it provides hours of entertainment for kids of all ages! The player who is "it" counts to 100 while the remaining ones hide. They then find all the remaining players. The last player found is the new "it".
Possible variations: Sardines, basically reverse hide-and-seek, where the player who is "it" hides and the remaining players have to find them. By the end of the game, there are usually limbs flying everywhere and some very squished people and loads and loads of giggles!
Stay tuned over the next few weeks for some more Christmas treats (although I won't post my actual Christmas presents until after Christmas to avoid anyone on my list catching wind of my plans!)
Stay tuned over the next few weeks for some more Christmas treats (although I won't post my actual Christmas presents until after Christmas to avoid anyone on my list catching wind of my plans!)
Friday, 7 December 2012
Tip #14 - Eat less meat
I'm not a vegetarian, and I can eat platefulls of baked or roasted ham or bacon. But with the price of meat so high, and set to increase in Canada next year, it may be worth finding some alternatives.
Anyone who has a vegetarian friend has probably seen the meat substitute products, usually made from ground mushrooms or soya, but these too can be very expensive. I also find them hit-and-miss - some aren't bad, but some just have a strange aftertaste or texture.
So I'm going to put in a plug for that most basic of protein, the one we sing about, the one which makes family gatherings that little bit more odorous.
Beans.
Canned, dried, fresh, it doesn't matter. Beans are incredibly good value for their weight and volume, and they're packed with nutrients like protein and iron. They're a good source of complex carbohydrates and fiber as well, so can act as both a veg and a meat substitute. And they're just so cheap!
I tend to have several different cans of beans in my cupboard for when I want to bulk something out. So I'll add chickpeas to curries, or pinto beans to tacos (this is relatively new), or lentils to shepherd's pie or bolognese sauce.
Lentils are especially good for bulking out ground beef-based meals. If you add a can of lentils to a pot of shepherd's pie filling or spaghetti sauce, you can cut out the equivalent volume of ground beef. And, it hides the lentils for picky eaters! I never spotted them in my Mum's cooking until I was much older and able to appreciate them more.
If, unlike me, you're a meat and two veg cook (I'm a one-pot cook so the beans trick works well for me), you can cut down on your meat bill by only buying what's on sale or special (i.e. going off that day), in bulk, and freezing it until you are ready to eat it. Freezerbags are great for this - you can freeze individual chicken breasts or steaks out of a value pack, or stick a whole chicken in one. Just make sure that you take the freezing into account when you cook, and make sure you consume the products within about a month!
Finally, a trick for you turkey or ham lovers. The week after Thanksgiving or Christmas, go to your supermarket, and buy one or two frozen turkeys or hams. They and their leftovers will last for a good long time and are at huge markdown! It's like the adult equivalent of buying marked down halloween or easter candy.
Anyone who has a vegetarian friend has probably seen the meat substitute products, usually made from ground mushrooms or soya, but these too can be very expensive. I also find them hit-and-miss - some aren't bad, but some just have a strange aftertaste or texture.
So I'm going to put in a plug for that most basic of protein, the one we sing about, the one which makes family gatherings that little bit more odorous.
Beans.
Canned, dried, fresh, it doesn't matter. Beans are incredibly good value for their weight and volume, and they're packed with nutrients like protein and iron. They're a good source of complex carbohydrates and fiber as well, so can act as both a veg and a meat substitute. And they're just so cheap!
I tend to have several different cans of beans in my cupboard for when I want to bulk something out. So I'll add chickpeas to curries, or pinto beans to tacos (this is relatively new), or lentils to shepherd's pie or bolognese sauce.
Lentils are especially good for bulking out ground beef-based meals. If you add a can of lentils to a pot of shepherd's pie filling or spaghetti sauce, you can cut out the equivalent volume of ground beef. And, it hides the lentils for picky eaters! I never spotted them in my Mum's cooking until I was much older and able to appreciate them more.
If, unlike me, you're a meat and two veg cook (I'm a one-pot cook so the beans trick works well for me), you can cut down on your meat bill by only buying what's on sale or special (i.e. going off that day), in bulk, and freezing it until you are ready to eat it. Freezerbags are great for this - you can freeze individual chicken breasts or steaks out of a value pack, or stick a whole chicken in one. Just make sure that you take the freezing into account when you cook, and make sure you consume the products within about a month!
Finally, a trick for you turkey or ham lovers. The week after Thanksgiving or Christmas, go to your supermarket, and buy one or two frozen turkeys or hams. They and their leftovers will last for a good long time and are at huge markdown! It's like the adult equivalent of buying marked down halloween or easter candy.
Sunday, 25 November 2012
Tip #13 - What's in a name?
More often than not, brand names mean you're paying for the product's name, not its contents. If you insist on buying only brand named products, you will be spending too much money.
Here are my general guidelines on buying products:
- Think of the use of the product: Will it be used once or repeatedly? Will it be mixed in with something or eaten as-is? Will you use all of it or waste half?
- What benefit does this product offer: Do you know that your hair will be silky and smooth or does it only promise? Will your garbage be truly smell-free (unlikely...)? When mixed in, will these brand name lentils realy add extra protein above the standard lentils?
- What benefit does the company offer: Do they refuse to test on animals? Do they give back to charity or invest in the community? Have you investigated the criticisms of the company (Wikipedia is a good place for this...) and find it to still be a company you want to give money to?
- Finally, the most important question: Which is cheaper? Brand name products are more likely to have sales, which can bring the unit price below that of a store brand.
I'm a big fan of store brands, and for most products find that they are equivalent to brand name products, with a very few exceptions. One for me is a facial moisturizer from Lush, which is the only one I've found which deals with both my dry skin and my oily breakouts. Another is curry paste, which needs to be done by a reputable company which understands the balance of flavours. Yet another is salad dressing - I'm sorry, but I just love Kraft Golden Italian, and no matter what else I've tried, I can't find a suitable cheaper replacement.
Are you a brand fiend? I challenge you to take one product per week which you would normally insist on being brand named, and try the store brand version. Perhaps chopped tomatoes. Or beans. Or frozen peas. Or if you're really going out on a limb, maybe try store brand cleaning pruducts. I promise you will find some savings, if a bit difficult along the way :)
Here are my general guidelines on buying products:
- Think of the use of the product: Will it be used once or repeatedly? Will it be mixed in with something or eaten as-is? Will you use all of it or waste half?
- What benefit does this product offer: Do you know that your hair will be silky and smooth or does it only promise? Will your garbage be truly smell-free (unlikely...)? When mixed in, will these brand name lentils realy add extra protein above the standard lentils?
- What benefit does the company offer: Do they refuse to test on animals? Do they give back to charity or invest in the community? Have you investigated the criticisms of the company (Wikipedia is a good place for this...) and find it to still be a company you want to give money to?
- Finally, the most important question: Which is cheaper? Brand name products are more likely to have sales, which can bring the unit price below that of a store brand.
I'm a big fan of store brands, and for most products find that they are equivalent to brand name products, with a very few exceptions. One for me is a facial moisturizer from Lush, which is the only one I've found which deals with both my dry skin and my oily breakouts. Another is curry paste, which needs to be done by a reputable company which understands the balance of flavours. Yet another is salad dressing - I'm sorry, but I just love Kraft Golden Italian, and no matter what else I've tried, I can't find a suitable cheaper replacement.
Are you a brand fiend? I challenge you to take one product per week which you would normally insist on being brand named, and try the store brand version. Perhaps chopped tomatoes. Or beans. Or frozen peas. Or if you're really going out on a limb, maybe try store brand cleaning pruducts. I promise you will find some savings, if a bit difficult along the way :)
Sunday, 18 November 2012
Tip #12 - DIY Frozen Berries
My Dad and I went to the supermarket yesterday, and joy of joys, there was a sale on blackberries! Four tubs for $5. Clearly, they were trying to get rid of their stock before they all went furry.
So we bought four. And took them home. And then I spent the whole night thinking what the heck we're going to do with four tubs of blackberries which are about to go furry in a house which doesn't have any baking ingredients (because the obvious answer would be blackberry apple pie or crisp, but my Dad doesn't have flour... don't ask).
So I thought I'd try freezing them.
Anyone who has tried freezing fruit before knows that throwing them into a tupperware container or a freezer bag as-is turns the berries into a giant messy mess which is essentially inedible. My awesome Menonite cookbook, however, suggested freezing them on a baking tray, not touching, before tipping them into a container. And... it works! Three of the four tubs successfully frozen and no mushy berries.
The best part is, you can now stock up on fruit (or vegetables) which are at the end of their life-cycle and being sold cheaply, and preserve them for a significantly longer period of time, AND save the premium that store-bought frozen berries and vegetables have on them. Win-win!
Tutorial: DIY Frozen Berries
1 - Arrange your berries neatly on a baking tray. My Dad doesn't have a baking tray, so I used some oven bakeware.
2 - Put into freezer for about an hour until hard (the time will depend on the type of fruit). This can be tested by throwing at people's heads, but it's inadvisable.
3 - When hard, pour into a freezer bag or tupperware and put back into freezer until ready to eat!
This can also be used to freeze par-boiled vegetables, but I haven't tried it yet, though it's on my to-do list.
So we bought four. And took them home. And then I spent the whole night thinking what the heck we're going to do with four tubs of blackberries which are about to go furry in a house which doesn't have any baking ingredients (because the obvious answer would be blackberry apple pie or crisp, but my Dad doesn't have flour... don't ask).
So I thought I'd try freezing them.
Anyone who has tried freezing fruit before knows that throwing them into a tupperware container or a freezer bag as-is turns the berries into a giant messy mess which is essentially inedible. My awesome Menonite cookbook, however, suggested freezing them on a baking tray, not touching, before tipping them into a container. And... it works! Three of the four tubs successfully frozen and no mushy berries.
The best part is, you can now stock up on fruit (or vegetables) which are at the end of their life-cycle and being sold cheaply, and preserve them for a significantly longer period of time, AND save the premium that store-bought frozen berries and vegetables have on them. Win-win!
Tutorial: DIY Frozen Berries
1 - Arrange your berries neatly on a baking tray. My Dad doesn't have a baking tray, so I used some oven bakeware.
2 - Put into freezer for about an hour until hard (the time will depend on the type of fruit). This can be tested by throwing at people's heads, but it's inadvisable.
3 - When hard, pour into a freezer bag or tupperware and put back into freezer until ready to eat!
This can also be used to freeze par-boiled vegetables, but I haven't tried it yet, though it's on my to-do list.
Tuesday, 13 November 2012
Tip #11 - Bank fees
Oh, bank fees. Evil, evil bank fees.
A bank account is necessary for life, but banks are businesses. They want your money, and they want to keep it!
The goal:
Avoid all bank fees.
The method:
1. Shop around to major banks to find an account which doesn't charge fees. They do exist! In the UK, bank fees on current are pretty much unheard of, but in Canada they're ubiquitous. I've managed to find a good one :)
2. Know the limits and/or benefits of your account. If you are being charged a fee, is this fee waived if you maintain a minimum balance? Does it limit you to a certain number of transactions per month? Does it provide you with bonuses such as loyalty points? It's important to really know your account details and work with and within them.
3. ATM fees. OMG AVOID LIKE THE PLAGUE! If you live in Canada, you CANNOT take money out of a bank machine which doesn't belong to your bank, or which doesn't belong to a bank which is affiliated with your's. DON'T USE THEM unless you're REALLY desperate. I mean, you're stuck down a back alley with a snarling tiger and need a cab to escape desperate. If you're in the UK, happy days! No ATM fees from reputable banks.
An idea to avoid bank fees is to buy using your credit card, then pay off at the end of the month. Another idea is to live on cash only, taking a lump sum out each month. However, this requires careful budgeting and needs a significant amount of discipline to accomplish.
4. Direct Debits. These can be a dangerous business. While it's nice to "not have to worry about it", if you forget to have enough money in the account, you get charged for insufficient funds. This is my big difficulty. I have been charged 24 pounds in the past year through stupid mistakes of not having enough money for my direct debits.
So here's the thing. If you KNOW you will have the money in your account every month, then direct debit may be useful. However, if you are like me, and live without a steady income, it's more useful to be forcefully on top of your bills by feeling the need to open them. Damn you, UK and you're direct debit culture! Thank you, Canada with it still a modern thing which I can avoid!
5. Cheques. Similar to the above, you need to make sure there is enough money to cover the cost of a cheque. Cheques should be dated, and can be post dated to when they are needing to be used and/or when you know you will have the money. It is the responsibility of the cheque casher to ensure that they are cashing a cheque within time allowances. I've had this happen to me before - I had a cheque bounce because the recipient didn't notice I had post dated. In the end, they appologized and we agreed that I would re-write the cheque minus the cost of the bank fee.
And, finally, a caveat. Bank fees can sometimes bundle in useful services which would otherwise cost you more if purchased separately. These can include, but are not limited to, the cost of cheques, free currency exchange, travel insurance, mobile insurance, and discounts on outings. I made a decision last year to upgrade my account to one which charged a monthly fee, but included all of these. In the end, I didn't have to use any of the services, but the travel insurance and mobile phone insurance meant I had peace of mind. It's something to consider, certainly!
Have I missed any fees? Do you have tips about which accounts have low or high fees? Which accounts reward you the most? Let me know!
A bank account is necessary for life, but banks are businesses. They want your money, and they want to keep it!
The goal:
Avoid all bank fees.
The method:
1. Shop around to major banks to find an account which doesn't charge fees. They do exist! In the UK, bank fees on current are pretty much unheard of, but in Canada they're ubiquitous. I've managed to find a good one :)
2. Know the limits and/or benefits of your account. If you are being charged a fee, is this fee waived if you maintain a minimum balance? Does it limit you to a certain number of transactions per month? Does it provide you with bonuses such as loyalty points? It's important to really know your account details and work with and within them.
3. ATM fees. OMG AVOID LIKE THE PLAGUE! If you live in Canada, you CANNOT take money out of a bank machine which doesn't belong to your bank, or which doesn't belong to a bank which is affiliated with your's. DON'T USE THEM unless you're REALLY desperate. I mean, you're stuck down a back alley with a snarling tiger and need a cab to escape desperate. If you're in the UK, happy days! No ATM fees from reputable banks.
An idea to avoid bank fees is to buy using your credit card, then pay off at the end of the month. Another idea is to live on cash only, taking a lump sum out each month. However, this requires careful budgeting and needs a significant amount of discipline to accomplish.
4. Direct Debits. These can be a dangerous business. While it's nice to "not have to worry about it", if you forget to have enough money in the account, you get charged for insufficient funds. This is my big difficulty. I have been charged 24 pounds in the past year through stupid mistakes of not having enough money for my direct debits.
So here's the thing. If you KNOW you will have the money in your account every month, then direct debit may be useful. However, if you are like me, and live without a steady income, it's more useful to be forcefully on top of your bills by feeling the need to open them. Damn you, UK and you're direct debit culture! Thank you, Canada with it still a modern thing which I can avoid!
5. Cheques. Similar to the above, you need to make sure there is enough money to cover the cost of a cheque. Cheques should be dated, and can be post dated to when they are needing to be used and/or when you know you will have the money. It is the responsibility of the cheque casher to ensure that they are cashing a cheque within time allowances. I've had this happen to me before - I had a cheque bounce because the recipient didn't notice I had post dated. In the end, they appologized and we agreed that I would re-write the cheque minus the cost of the bank fee.
And, finally, a caveat. Bank fees can sometimes bundle in useful services which would otherwise cost you more if purchased separately. These can include, but are not limited to, the cost of cheques, free currency exchange, travel insurance, mobile insurance, and discounts on outings. I made a decision last year to upgrade my account to one which charged a monthly fee, but included all of these. In the end, I didn't have to use any of the services, but the travel insurance and mobile phone insurance meant I had peace of mind. It's something to consider, certainly!
Have I missed any fees? Do you have tips about which accounts have low or high fees? Which accounts reward you the most? Let me know!
Sunday, 4 November 2012
Tip #10 - Keeping Warm
This tip is based on a suggestion from my friend Meghan, who pointed out
that, with the cold weather approaching, a higher proportion of our money will
be spent keeping warm. Here are some pointers on how to cut down the cost of
toasty fingers.
Keep your heating equipment functioning well
Make sure your boiler or heater gets a check-up early. Like, now. It will decrease your headache if it goes on the fritz in January. This has to be done by a qualified professional, but in order to make sure the boiler isn't working overtime for nothing, you need to make sure your radiators are free of dust. Before you turn them on for the first time, run a dusting cloth attached to an unbent coat hanger between the heating panels of the radiator, making sure all the dust is gone.
If you have hot-water radiators, connected to a boiler, make sure the air is thoroughly bled from them. Do this by using either a wrench or a special radiator key to open the valve on the side of the radiators. Hold an old cloth or some paper towels against the valve to prevent any spillage when the air is removed. As an added bonus for this style of radiators, stick sheets of aluminium foil with blu-tak to the wall behind the radiators. This will propagate the heat out into the room, heating it faster and more effectively.
Know your energy plan
There are many energy plans out there, with different prices for different types of energy (gas, oil, and electricity). Know what your house or apartment uses for heating, cooking, and water heating (these can be different), and what your energy plan is charging you per unit. This information should be found on your energy bill. Use this information to compare to other energy suppliers. If you find a cheaper solution, phone up your own supplier and threaten to switch. Chances are, they want to keep a paying customer, and will put you on a cheaper plan if one is available.
Another tip for dealing with the energy suppliers is not to pay by direct debit. Although it may seem nice to have a single, flat rate each month to pay, and to have it leave your bank account worry-free, you could be paying too much. By paying through a per-usage, meter read system, you could not only save money, but you will be more conscious of your monthly usage, and therefore able to cut down on your usage in a conscious way.
Acknowledge your circumstances
If you need to heat your house, you're not living in a tropical country. There is therefore no reason why your house should be heated to 30*C. Lower the temperature and add a layer. You will save loads of money.
There are some other tricks of the cold-country trade which should be learned if you're new to this situation:
(1) take your shoes off at the door and switch to slippers or thick socks
(2) eat more complex carbohydrates (providing heat and energy for longer) and protein
(3) have a sofa-blanket so you can snuggle up warmly while watching TV or reading a book
(4) wear warm pyjamas and sleep under a duvet (better than blankets!)
(5) turn the heating down at night and when you're not in the house - you need it to be warm enough to not have pipes freeze (minimum inside temperature of about 16*C) - but it needn't be blasting heat when you're not going to enjoy it
(6) get any door and window leaks seen to and plugged, before the cold weather really starts. Nothing kills your buzz like a draft.
Recognize other areas your energy cost is going
Cooking, showering, and using hot water cycles on washing machines and dishwashers also contribute to your monthly energy costs. Cutting down on these is a hidden way to cut your expenditures.
Cooking: as above, with changing the type of food you eat, you should also think about the method of preparation. Use a kettle to boil water; Use more one-pot recipes such as home-made soup, stir-fry, or curry, making sure you use a good thick-bottomed pot; If you have one, use a Crockpot, which can cut down on energy costs dramatically. Make more than you need, freeze it, and re-heat in a microwave.
Showers: it's no secret that hot water uses energy, but in winter a hot shower can be incredibly enticing. If you want to save money, buy a cheap water-proof timer and time your showers. Aim to reduce them by 10 seconds each shower until you reach a point where you feel you couldn't take any more time off and still come out clean (and shaven). I usually have my showers at night, allowing my body to cool down ready for sleep and reducing the need for hair drying equipment.
Washing clothes and dishes: some countries offer discounts to households which run large appliances only at night. If you have a washing machine or dishwasher equipped with a timer function, and these discounts are available in your area, take advantage! Just make sure you empty it in the morning. Also, make sure you have a full load each time you use one of these machines, and use the cold water cycle of washing machines. If you're running your dishwasher during the day, open it before the heat dry cycle begins. Your dishes will still dry, they will just take a bit extra time and won't be warm.
And the final and most important tip: dress warmly, inside and out...
... because being blue isn't sexy.
Keep your heating equipment functioning well
Make sure your boiler or heater gets a check-up early. Like, now. It will decrease your headache if it goes on the fritz in January. This has to be done by a qualified professional, but in order to make sure the boiler isn't working overtime for nothing, you need to make sure your radiators are free of dust. Before you turn them on for the first time, run a dusting cloth attached to an unbent coat hanger between the heating panels of the radiator, making sure all the dust is gone.
If you have hot-water radiators, connected to a boiler, make sure the air is thoroughly bled from them. Do this by using either a wrench or a special radiator key to open the valve on the side of the radiators. Hold an old cloth or some paper towels against the valve to prevent any spillage when the air is removed. As an added bonus for this style of radiators, stick sheets of aluminium foil with blu-tak to the wall behind the radiators. This will propagate the heat out into the room, heating it faster and more effectively.
Know your energy plan
There are many energy plans out there, with different prices for different types of energy (gas, oil, and electricity). Know what your house or apartment uses for heating, cooking, and water heating (these can be different), and what your energy plan is charging you per unit. This information should be found on your energy bill. Use this information to compare to other energy suppliers. If you find a cheaper solution, phone up your own supplier and threaten to switch. Chances are, they want to keep a paying customer, and will put you on a cheaper plan if one is available.
Another tip for dealing with the energy suppliers is not to pay by direct debit. Although it may seem nice to have a single, flat rate each month to pay, and to have it leave your bank account worry-free, you could be paying too much. By paying through a per-usage, meter read system, you could not only save money, but you will be more conscious of your monthly usage, and therefore able to cut down on your usage in a conscious way.
Acknowledge your circumstances
If you need to heat your house, you're not living in a tropical country. There is therefore no reason why your house should be heated to 30*C. Lower the temperature and add a layer. You will save loads of money.
There are some other tricks of the cold-country trade which should be learned if you're new to this situation:
(1) take your shoes off at the door and switch to slippers or thick socks
(2) eat more complex carbohydrates (providing heat and energy for longer) and protein
(3) have a sofa-blanket so you can snuggle up warmly while watching TV or reading a book
(4) wear warm pyjamas and sleep under a duvet (better than blankets!)
(5) turn the heating down at night and when you're not in the house - you need it to be warm enough to not have pipes freeze (minimum inside temperature of about 16*C) - but it needn't be blasting heat when you're not going to enjoy it
(6) get any door and window leaks seen to and plugged, before the cold weather really starts. Nothing kills your buzz like a draft.
Recognize other areas your energy cost is going
Cooking, showering, and using hot water cycles on washing machines and dishwashers also contribute to your monthly energy costs. Cutting down on these is a hidden way to cut your expenditures.
Cooking: as above, with changing the type of food you eat, you should also think about the method of preparation. Use a kettle to boil water; Use more one-pot recipes such as home-made soup, stir-fry, or curry, making sure you use a good thick-bottomed pot; If you have one, use a Crockpot, which can cut down on energy costs dramatically. Make more than you need, freeze it, and re-heat in a microwave.
Showers: it's no secret that hot water uses energy, but in winter a hot shower can be incredibly enticing. If you want to save money, buy a cheap water-proof timer and time your showers. Aim to reduce them by 10 seconds each shower until you reach a point where you feel you couldn't take any more time off and still come out clean (and shaven). I usually have my showers at night, allowing my body to cool down ready for sleep and reducing the need for hair drying equipment.
Washing clothes and dishes: some countries offer discounts to households which run large appliances only at night. If you have a washing machine or dishwasher equipped with a timer function, and these discounts are available in your area, take advantage! Just make sure you empty it in the morning. Also, make sure you have a full load each time you use one of these machines, and use the cold water cycle of washing machines. If you're running your dishwasher during the day, open it before the heat dry cycle begins. Your dishes will still dry, they will just take a bit extra time and won't be warm.
And the final and most important tip: dress warmly, inside and out...
... because being blue isn't sexy.
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