The time has arrived once again. I moaned and dragged my feet, but come last Monday I had to give in. It hit 17 degrees Celsius, and I turned on my heat. Fear not my automatic thermostat is set and my car port is stocked with wood. This coming winter's goal: use less electricity than last year.
I'm hoping to accomplish that via a number of steps I've taken in the recent past.
-I went conservative with my temperature setting, 20 when I'm home and awake, 18 otherwise.
-Heat with wood on weekends. This is completely uncharted territory for me but $280 bought me a cord of wood and we'll see how long it lasts and how efficient the stove is.
-I turned down my water heater.
-I got carpets and slippers so that I'll feel warmer on my wood floors.
-Sweaters are my friend.
My last utilities bill (water, sewage and electricity) was $98 which is a record low for me just prior to the cold season and the slow yet inevitable climb upwards in cost.
It was a bit of a debate before I could come to a decision on my wood stove. It takes more effort to run than my furnace and it costs me an extra $80 a month in insurance so I wasn't sure if it was worth it. I've decided to give it a go for a number of reasons.
-My central heat isn't very effective in the basement which makes half my house less useable in the winter
-I think the ambiance might be cool
-It might save me money (never know until you try)
-It is a sustainable source of heat
-It won't go out of commission unless I let it. (Unlike electricity)
I do have a fond memory of my mom reheating canned soup over our wood stove during a power outage as a kid. In a country that can experience temperamental weather having a backup source of heat is certainly a good safety measure.
The personal finance blog of a finance enthusiast. Infused with practical tips, personal stories, and a healthy dose of humour.
Wednesday, 23 October 2013
Friday, 18 October 2013
The Someday List
I have a bit of difficulty with the concept of patience. I need to be doing something towards my goals or I get antsy. The thing is that there are so many things that I want to see, do and learn and I have a limited amount of time and money. Of course I have the rest of my (hopefully) long life to complete all my goals. I'm trying (really hard) to concentrate on doing a few goals really well while the others bide their time. I don't want to lose track of all the wonderful things that get planned in my head so I've made a someday list that will reside on my blog and you will hopefully get to see some stuff crossed off. I debated really hard over putting financial goals on the list and ended up putting them separately. They are not goals for their own sake, but they will help me achieve my actual goals.
-Be a parent
-Write the books in my head (currently at 6)
-Sponsor an refugee
-Learn basic carpentry
-Learn basic pluming
-Learn basic welding
-Become the owner of a BIG piece of land with trees and water
-Build my own home
-Become proficient in the following languages:
-Backpack in countries that speak the above languages (plus French since I already speak it)
-Learn more about Astronomy and the universe
-Spend 6 months of the year on a Volunteer Abroad excursion like this: http://www.volunteerhq.org/
-Earn my Masters
-Earn my PhD
-Explore history through the books, and then go visit the places
-Take a kayaking/camping excursion
-Climb a mountain with a via ferata http://www.bbc.com/travel/feature/20130611-north-america-by-cable-and-bridge
-Take a 12 month Kiva Fellow placement
-Pay my mortgage in 5 years
-Have the opportunity to retire early
-Be a parent
-Write the books in my head (currently at 6)
-Sponsor an refugee
-Learn basic carpentry
-Learn basic pluming
-Learn basic welding
-Become the owner of a BIG piece of land with trees and water
-Build my own home
-Become proficient in the following languages:
- Arabic (started)
- Spanish
- Russian
- German
- Hindi
- Polish
-Backpack in countries that speak the above languages (plus French since I already speak it)
-Learn more about Astronomy and the universe
-Spend 6 months of the year on a Volunteer Abroad excursion like this: http://www.volunteerhq.org/
-Earn my Masters
-Earn my PhD
-Explore history through the books, and then go visit the places
-Take a kayaking/camping excursion
-Climb a mountain with a via ferata http://www.bbc.com/travel/feature/20130611-north-america-by-cable-and-bridge
-Take a 12 month Kiva Fellow placement
-Pay my mortgage in 5 years
-Have the opportunity to retire early
Tuesday, 15 October 2013
Thanksgiving
Yes, I realize it's actually the day after thanks giving but yesterday comprised of a leisurely brunch and some rather laid back house work accompanied by some of my favourite shows. So I sat back and enjoyed myself.
I did, however, do some reflecting on the things that I am thankful for. (The list is in no particular order.)
1. My family. I truly have the most amazing and supportive family any one could hope for. That includes my extended family. When ever we get together there's lots of reminiscing and creating of new good times. Any time somebody needs something the rest of the family pulls together to help them out. Sure, we're not perfect. But that would be a tad boring.
2. My health. While I do have a busted knee I'm a lot better off then a lot of the people in the world. I can still move about easily and take care of my self. My health is not gradually deteriorating. I have all of my sense and my mind is more or less together. (With a 95% confidence interval depending on how close to stats class I am.)
3. The chance to push my horizons. I'm working at a job that pushes me intellectually and I'm working on a Masters that will allow me to enter into the field of independent research. (And make really cool discoveries that will change the world!)
4. My job and financial savvy. I was lucky enough to be introduced to the world of personal finance as a teenager. Add that to the fact that I was surrounded by people willing to point me in the right direction and you have the makings of a true personal finance nerd. :) I also managed to find a good job that pays well, is extremely flexible, and has introduced me to the field of research.
5. My Dreams. I'm so very glad that I'm a dreamer. It gives my life direction and passion. I'm not sure I'll ever understand how some one can exist without a dream that puts fire in their eyes.
So . . . That's what I'm thankful for. I hope that you have just as much to be glad about.
I did, however, do some reflecting on the things that I am thankful for. (The list is in no particular order.)
1. My family. I truly have the most amazing and supportive family any one could hope for. That includes my extended family. When ever we get together there's lots of reminiscing and creating of new good times. Any time somebody needs something the rest of the family pulls together to help them out. Sure, we're not perfect. But that would be a tad boring.
2. My health. While I do have a busted knee I'm a lot better off then a lot of the people in the world. I can still move about easily and take care of my self. My health is not gradually deteriorating. I have all of my sense and my mind is more or less together. (With a 95% confidence interval depending on how close to stats class I am.)
3. The chance to push my horizons. I'm working at a job that pushes me intellectually and I'm working on a Masters that will allow me to enter into the field of independent research. (And make really cool discoveries that will change the world!)
4. My job and financial savvy. I was lucky enough to be introduced to the world of personal finance as a teenager. Add that to the fact that I was surrounded by people willing to point me in the right direction and you have the makings of a true personal finance nerd. :) I also managed to find a good job that pays well, is extremely flexible, and has introduced me to the field of research.
5. My Dreams. I'm so very glad that I'm a dreamer. It gives my life direction and passion. I'm not sure I'll ever understand how some one can exist without a dream that puts fire in their eyes.
So . . . That's what I'm thankful for. I hope that you have just as much to be glad about.
Friday, 11 October 2013
Food Waste - Eating the House Clean
No food waste this week! This is probably the first week since I started my Masters that I can announce that. This is partially due to the fact that I'm eating my house clean over this week and next.
What does that mean pray tell? It means that besides the bare minimums of fresh food (milk, a bag of apples and MAYBE some veggies) I concentrate on eating up what's already in the house. It allows me to get rid of every morsel of leftovers and see the bottom of my fruit and veggies drawer. It's a great way for curbing waste when it gets out of hand.
That said I wouldn't recommend this when you have other people in the house who wouldn't want to eat leftovers 3 days in a row or some really strange recipes to get of that odd ingredient that's been floating around.
Also when working on eating your house clean I would recommend that you do keep a good stock of protein (canned tuna and peanut butter for me), complex carbohydrates (whole wheat bread for me) and plant matter (apples for me). Which a) will not go bad quickly and b) will give you sufficient nutrients should you eat your house clean part way through the week and not have time to shop. (Mostly for nuts like me who work 80% a do a full time masters degree . . . because we like the challenge and as a result have no spare time.)
What does that mean pray tell? It means that besides the bare minimums of fresh food (milk, a bag of apples and MAYBE some veggies) I concentrate on eating up what's already in the house. It allows me to get rid of every morsel of leftovers and see the bottom of my fruit and veggies drawer. It's a great way for curbing waste when it gets out of hand.
That said I wouldn't recommend this when you have other people in the house who wouldn't want to eat leftovers 3 days in a row or some really strange recipes to get of that odd ingredient that's been floating around.
Also when working on eating your house clean I would recommend that you do keep a good stock of protein (canned tuna and peanut butter for me), complex carbohydrates (whole wheat bread for me) and plant matter (apples for me). Which a) will not go bad quickly and b) will give you sufficient nutrients should you eat your house clean part way through the week and not have time to shop. (Mostly for nuts like me who work 80% a do a full time masters degree . . . because we like the challenge and as a result have no spare time.)
Wednesday, 9 October 2013
Mortgage Update
Well I'm one month away from my 1 year anniversary in my house so I thought that I'd take a quick look at where my mortgage stands.
Original Balance: $152,000.00
Current Balance: $125,223.25
Change: -26,776.75
Original Number of Months: 360 (30 years)
Current Number of Months: 235 (19.58 years)
Change: 125 (10.42 years)
Original Equity: $39,000 (20.42%)
Current Equity: $65,776.75 (34.44%)
Change: $26,776.75 (14.02%)
Not bad for the first 11 months of a 5 year stretch. I've stuck with it and paid the maximum amount allowed each and every month and paid down my 10% principal to boot. As a result I've paid down 17.62% of my mortgage balance. [($26,776.75/$152,000.00)*100]
You may be scratching your head saying well if she want's to pay it down in 5 years shouldn't she pay off 20% per year? Well in order to avoid penalties I have to play by the banks rules. One of these is that I can increase my monthly payment by 10% each year. So my payment which started off at $646.62 is currently $711.28 which doubles up to $1422.56. Come next November I'll be able to increase that to $782.40 which doubles up to $1,564.80. As a result I can pay down a larger amount each year. Thus the fact that I paid down 17.62% of my balance instead of 20% is ok, since in the last couple years I'll be able to pay more then 20% of the balance without penalty.
Looking forward not only will I be able to increase my payments to the aforementioned $1,564.80 per month, but I also have my next 10% principle payment ready and waiting to go for the 8th of November.
The anticipation is killing me. :)
Original Balance: $152,000.00
Current Balance: $125,223.25
Change: -26,776.75
Original Number of Months: 360 (30 years)
Current Number of Months: 235 (19.58 years)
Change: 125 (10.42 years)
Original Equity: $39,000 (20.42%)
Current Equity: $65,776.75 (34.44%)
Change: $26,776.75 (14.02%)
Not bad for the first 11 months of a 5 year stretch. I've stuck with it and paid the maximum amount allowed each and every month and paid down my 10% principal to boot. As a result I've paid down 17.62% of my mortgage balance. [($26,776.75/$152,000.00)*100]
You may be scratching your head saying well if she want's to pay it down in 5 years shouldn't she pay off 20% per year? Well in order to avoid penalties I have to play by the banks rules. One of these is that I can increase my monthly payment by 10% each year. So my payment which started off at $646.62 is currently $711.28 which doubles up to $1422.56. Come next November I'll be able to increase that to $782.40 which doubles up to $1,564.80. As a result I can pay down a larger amount each year. Thus the fact that I paid down 17.62% of my balance instead of 20% is ok, since in the last couple years I'll be able to pay more then 20% of the balance without penalty.
Looking forward not only will I be able to increase my payments to the aforementioned $1,564.80 per month, but I also have my next 10% principle payment ready and waiting to go for the 8th of November.
The anticipation is killing me. :)
Friday, 4 October 2013
Food Waste - Awful
Awful just about sums up my food waste at the moment. Unfortunately none got photographed for posterity. They just got dumped as I came across them. Thus far I've had to trash:
-The tail ends of a loaf of bread (I don't care what others say, the crusts do taste different!)
-One tortilla
-Some left over spaghetti
-The end of a cucumber
There's also half a bag of carrots that I'm going to try and save this weekend . . . we'll see if they can be used for baking.
Ever since starting my Masters (on top of my day job) fresh food in my house has been a high risk population. Mostly I have plans for it but end up not taking the time to make a fresh supper. Instead I just pull something out of the freezer or end up making a huge batch of a meal on the weekend and then eating it multiple times during the week.
On a brighter note even though bread and veggies have been having a rough go of late there is no danger of being a fruit in my house. I can polish off a large bag of apples every week so there's no danger of them going off.
-The tail ends of a loaf of bread (I don't care what others say, the crusts do taste different!)
-One tortilla
-Some left over spaghetti
-The end of a cucumber
There's also half a bag of carrots that I'm going to try and save this weekend . . . we'll see if they can be used for baking.
Ever since starting my Masters (on top of my day job) fresh food in my house has been a high risk population. Mostly I have plans for it but end up not taking the time to make a fresh supper. Instead I just pull something out of the freezer or end up making a huge batch of a meal on the weekend and then eating it multiple times during the week.
On a brighter note even though bread and veggies have been having a rough go of late there is no danger of being a fruit in my house. I can polish off a large bag of apples every week so there's no danger of them going off.
Wednesday, 2 October 2013
Business Tips
I'm not a business person, and at this point in my life I really have no desire to be. So I thought that I'd give some tips on how best to get my business.
There are all the standard requirements, price your services well, do the job well, etc. But there is one aspect that I find varies a lot, accessibility. Some small companies do it well, some big companies do it well, in fact it's a bit of a crap shoot to see who in the local area will hit this mark.
Allow me to explain. I'm busy. I work 32 hours a week and I'm doing a Masters full time. I also try to maintain somewhat of a social life (variable success in that arena.) Most of the time when I'm trying to get in contact with trades persons or other service providers happens over my lunch break, or if I'm busy at the office as soon as I get home at 4:30, or if I get home late, the next day at lunch. The result can be an often frustrating game of phone tag trying to get things organized. It gets even more frustrating when the business has any of the following traits:
-No voicemail
-No e-mail
-Slow response time
-Don't return calls
Actually the last one pretty much guarantees that you will never ever get my business so long as there is another company in town. I have better things to do with my time then trying to chase people down. Use the technology that is available! You don't need to know much about the web to set up a basic website, you need even less to have an e-mail address.
And your harried customers will keep coming back.
There are all the standard requirements, price your services well, do the job well, etc. But there is one aspect that I find varies a lot, accessibility. Some small companies do it well, some big companies do it well, in fact it's a bit of a crap shoot to see who in the local area will hit this mark.
Allow me to explain. I'm busy. I work 32 hours a week and I'm doing a Masters full time. I also try to maintain somewhat of a social life (variable success in that arena.) Most of the time when I'm trying to get in contact with trades persons or other service providers happens over my lunch break, or if I'm busy at the office as soon as I get home at 4:30, or if I get home late, the next day at lunch. The result can be an often frustrating game of phone tag trying to get things organized. It gets even more frustrating when the business has any of the following traits:
-No voicemail
-No e-mail
-Slow response time
-Don't return calls
Actually the last one pretty much guarantees that you will never ever get my business so long as there is another company in town. I have better things to do with my time then trying to chase people down. Use the technology that is available! You don't need to know much about the web to set up a basic website, you need even less to have an e-mail address.
And your harried customers will keep coming back.
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