Coping with The Economic Downturn, Part 4

Audrey’s 20 Tips for Reducing Expenditures:

1. Bring your lunch to work as often as possible. Always eat breakfast at home on workdays. (No need to forgo an occasional breakfast out on Elgin Street as a weekend treat.)
2. Drink the cheap coffee at work.
3. Eat dinners at home more often. When you eat out, order the burger, not the dinner special.
4. Avoid the pubs, or, if you indulge, have fewer drinks.
5. Go to the cinema on nights when the price is lower.
6. Avoid using your car. Use public transit or walk. However, don’t take risks to save money. Walking home in the bitter cold or in freezing rain could jeopardize your health; walking home alone late at night can be dangerous for men as well as for women.
7. Ask yourself if you really need something before you buy it.
8. Wait for your favourite items to go on sale.
9. Only make changes to your home that will add value – e.g. modernizing kitchens and bathrooms, and having a basement professionally-finished.
10. We all know that we should withdraw money less frequently so as to reduce bank charges. However, how many of us meet with our bank to discuss our finances before there is a problem Set up an appointment with your bank and discuss your accounts. Can you prepay some of your mortgage? This will save you in interest in all the remaining years when you have a mortgage. Obtain a line of credit and transfer the balance on your credit cards to this lower rate product.
11. Become more knowledgeable about the income tax system – for example, I’m going to add my charitable donations for 2009 to those for 2010 when I file my 2010 tax return.
12. Review your pension plan at work. If you work for the Government of Canada, can you buy back pensionable service (eg. from when you were a summer student)? This will reduce your fears about not being financially secure in your old age.
13. If you are a renter, make appointments to view less expensive properties. You might be surprised to find one that you like better than your current home.
14. Roll your change. My boyfriend had $35 in nickels and dimes and $40 in quarters!
15. Make greater use of the Internet.
16. Marry your true love and move in together. You’ll have more time together and you will save on household expenses! A co-habiting couple can also take advantage of pension and benefit plans. There are also tax advantages to co-habitation.
17. Have a trusted friend do your taxes for you, instead of an agency.
18. Recycle the beer and wine bottles in your basement. My boyfriend and I had a contest – I made $25 and he made $23!
19. Unplug your beer fridge. Disconnect your vcr and other appliances that are drawing power even when not in use (the “phantom load”).
20. Call your cable company and find out if you can save money by switching to digital services. My boyfriend did this, and he is getting more channels for less money. He also advised that people should ask service providers if there are any discounts available.

Fish Tale

A few weeks ago, when I expressed my pleasure at Bob's series, nasty loos, he suggested that I photograph the fancy ones.

...mabye you can start a tradition of photog'ing fancy loos...

I have followed his suggestion.

Advertising in a toilet - fancy and clever! And, if you don't like the product being promoted, you can feel doubly satisfied at using the loo.

Bloggers and Brunch

I have never made it to a brunch with bloggers, except for a couple of times with a handful of ESIs, but that doesn't count. I'm not against the idea of bloggers brunching. My fellow bloggers have reported that everyone has a delightful time, and that it is fun to meet the "real" personas behind the blogging personas. That sounds cool. My problem is not with meeting bloggers. My problem is with BRUNCH. I hate brunch. I hate eggs benedict and other stomach-achy food that I associate with brunch. I am allergic to eggs which are, in fact, the staple of brunch foods. I know, plenty of other bloggers are delicate flowers and have diet restrictions and manage to show up at these brunches. I hate the word "brunch". I hate it just as I hate the word Brangelina, and the whole concept of combining meals and words.

I like breakfast as an unique entity. I like lunch as a unique entity. Don't make me like brunch! Another obstacle is I hate the hour of brunches. They tend to occur on weekends around 11-ish, sometimes earlier. That is not a good time to meet people you want to impress who are only familiar with your blog persona. I would need to shower and groom myself which means I have to get up EARLY on a weekend morning. I want to be hanging out, reading the paper, sleeping in, and doing other things in an unstructured, unscheduled and discheveled manner.

If the bloggers did something on a weeknight that involved drinking, I'd be all over that. If the bloggers wanted to hold a "business meeting" during work hours, I'd be all over that, too. If the bloggers wanted to have 2-day meditation, yoga and drinking retreat, I might even be open to attending that.

An excellent idea from Bandobras

Audrey's posts have had me thinking about saving money, but I just can't do it. Fortunately Bandobras at Retired and Tired has a plan I can get behind:

Daylight savings time starts this weekend and if we all save as much as we can maybe there will be enough to go around next winter.

If it is dark and dreary again the government may make us save daylight all year round. It's up to you to do your part. If we all just save a little each day, through the miracle of compound interest I'm sure we can have enough to get through next winter.

He makes a good point that if we don't start saving daylight voluntarily the government may force us to do it anyway.

Coping with The Economic Downturn, Part 3

Another instalment from Audrey's timely survey

What You Shouldn’t Scrimp On

When I was in fourth-year university and had no money, I spent my emergency cash on perfume. My parents were shocked but I insisted that I was in an emergency situation - without perfume, I was feeling like a boy! All of us have things that we spend money on that seem like extravagances, but which are important to us. Don’t deny yourself these little luxuries. Sometimes the smart choice is to make that purchase, even in an economic downturn, because of the sheer pleasure that that purchase can bring to us.

We undeniably live in a society where our image is very important. Like it or not, we are judged on our appearance. Even in a downturn we should be careful to update our work wardrobe and to get regular haircuts. Go to clothing swaps. Ask friends where to buy bargains. One of my friends suggested that I buy tops at RW & Co. (in the Rideau Centre) and I was so happy with the selection that I bought three of them for work.

Give more modest gifts but don’t stop giving gifts. This year for Christmas, my boyfriend and I baked quiches and shortbread cookies for family members. It was fun to get the phone calls long after Christmas to hear that a salmon quiche had been the main dish at a luncheon or dinner.

We always must remember those less fortunate than ourselves. One friend told me that, at restaurants and bars, we can try to “tip a little more generously because the servers probably need the money” during these difficult times.

Everyone needs a vacation. We all need time to recharge. Don’t deny yourself a vacation but do search the web for good deals. I like the “flight deals” for passage out of Montreal on Air Transat's website.

We workers in Ottawa are very fortunate compared with those in other Canadian communities. Public Service jobs and the high-tech sector bring great stability to the local economy. However, even those of us who manage to keep our jobs and income intact should be vigilant about our finances. One recommendation for all workers is that they review their bank accounts, insurance policies and pension plans. There are many steps that can be taken today to improve one’s income in the future, including taking advantage of opportunities to buy back past Public Service time and consolidating debts.

Do readers have any tips for reducing expenditures that they wish to share?

Image: Audrey and her boyfriend's home baking creation, a humungously delicious apple pie

Part IV: Audrey’s 20 Tips for Reducing Expenditures