SHOCK AND AWE

Shock and Awe

Now you have received the credit cards bills for your lavish spending in December 2016.

Wipe that frown off your face. I have a plan for you. I can show you ways to never ever find yourself in this position again.

Pick up those bills. Open them. Get your calculator and total the amount you spent during the months of November and December for all those gifts you bought. I am sure you purchased something yourself. Because, you felt that you deserved it.

What is the total? I can guess. It runs from $1000.00 to $1500.00. It did not seem like you were spending that much. Did it?. No way would you know. While swiping your credit card the totals leave your mind. You are focus only on the next purchase. Here we are the end of January and now you know.

Let us begin with the way to avoid this from happening again.

Add 10% more to your total. Then take this number and divided by the amount of times you get paid in a year.

Here is an example of someone who spent $1,500 and gets paid bi-weekly.

$1500.00 + 10% for inflation $150.00 it’s a bit high but just incase I prefer to use a 10% increase.

Formula= $1500.00 + $150.00 / by 26 = $63.46.

This is the amount you need to save every payday to enable you to have $1650.00 to spend on Christmas.

If you did not spend that much decrease your amount and follow the very same formula. Perhaps you get paid weekly then you divide by 52.

Next step go to your financial institution and have them set up an automatic transfer to a special savings account the transfer to coincide with your payday.

Naturally, if this amount is too much decrease, but do something to avoid finding yourself in the similar position next January.

Hope this helps.

Tessa-Marie

 

 

 

New Cost of Living Increases for 2017

Here they are folks; hold on to your money.

2017 comes roaring in with a vast amount of increases. These increases are in every area of our life, and each and everyone will hit us in the wallets, where it hurts the most.

I am here to help you navigate through 2017 with positive financial results.

In order to get where you plan to be financially throughout 2017 you have to follow a plan. Just like going on a trip. You need a navigator. Especially since you are getting into unchartered waters.

I will remind you of what the major increases coming your way this year, and I am here to help you navigate through them. I am your financial GPS.

First let’s look at the list of items going up.

1. The cost of fueling up or vehicles.
2. The cost of electricity.
3. The cost of heating our homes.
4. The cost of feeding our families.
5. The cost of public transportation.

Well the big five. What can we do to help us come out on the positive side of these life-changing situations? I will discuss each item with tips to help you move forward in a confident manner.

The cost of fueling up or vehicles

• Make sure the tires on the vehicles are properly inflated according to the manufacturer’s recommendation.
• Keep up all service recommended by your mechanic.
• Change your oil and filters when needed.
• Avoid driving when walking is within normal limits.

The cost of electricity

• Look for sales on energy saving light bulbs and take advantage of opportunities to replace your bulbs with low energy ones.
• Turn off the lights and TV when not in the room.
• Cook meals for at least two days when using electricity before 7pm or after 7am.
• Do laundry on weekends or after 7pm in the evenings.

The cost of heating our homes 

• Lower the thermostat by 2 points, by 3 points when no one is home.
• Wear warmer clothing when at home. Like track suits and socks.
• Make sure you are not losing heat through windows and doors left open for long periods at a time.
• Replace your furnace filters regularly.
• Lower the heating cycle on your hot water heater.

The cost of feeding our families

• Check the pantry I mean all your pantries. Like the places you put the extra toilet paper, pasta, rice and flour.
• Open the kitchen cupboard; make a list of the items in your cupboard.
• The fridge, checks it out, what do you have in there. Can it be used?
• The freezer; how much meat is in there? Chicken, Pork, Beef and Seafood.
• Make a list of the items on hand.
• Use them before purchasing anything new.
• Watch your vegetable purchases. Do you like kale; because someone said it’s good for you is not a good enough reason to buy it. You must eat it.
• Only purchase items you will consume.

Public transportation 

What can we do about it? If you have to use it you must pay. Make sure you are using it to your advantage.

• Do your math, is it better to purchase a monthly pass?
• Is it better financial sense to purchase a weekly pass, if you do not use public transportation on weekends? Work the cost out and choose the one that suits your needs.

These are a few tips to help you navigate through 2017. I trust that you find them helpful, or at the very least trigger you to make some changes to keep more of your income.

Tessa-Marie