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Thread: 2019 Financial Resolutions...

  1. #1
    Canadian Genius
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    2019.... Less is more! That is my motto this year.

    For Groceries... I am really watching sales (as usual) but not stocking up like crazy and making sure we use what we buy. Love PC Pts and my PC MC. I try to do most shopping at RCSS/No Frills to reap the points (3% with PC MC) We are focusing on making meals at home and packing school/work lunches with no mindless spending. So far so good!

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    We are taking a family trip to Jamaica in the Fall and am looking so forward to it so this is my reminder to the kids why we should be extra frugal where we can. The deposit is paid and the balance owing end of April so my goal is to get selling our junk and put that money towards it so I don't have to use savings. I can do this Will start posting stuff tonight for sale.
    This thread is currently associated with: No Frills, Real Canadian Superstore RCSS
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  2. #2
    Canadian Genius
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    Costco- I have many items to return. (all new with tags etc. just stuff we didn't end up liking/wanting) (I returned $80 worth last week) So will gather it all tonight so it is ready to return this weekend. Will be a good credit on my MasterCard. ($100 for sure at least.)
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    great thread!!!

    ok , my household is changing.. its just changing. i need to adjust how i shop... mainly amounts... i think it will be a ongoing struggle this year for me as the changes will be ongoing... with 3 kids.. these things happen.
    i also need to adjust savings, retirement and mortages issues.. as well as debt. i have a plan in place... now just seeing if i can pull it off....

    ultimatly, i would like to get the grocery budget down... and move a bit of those savings into the Mortage... it would not be a huge amount.. but if i did it... i could shave a year off...
    i will be watching this closely all year long. ultimatly.. it comes down to .. do we pay extra into retirement.. or house... and while its going to only be 100 - 150 a month... my brain is going to over think this for a good solid while... lol.


    house wise. we do 1 project a year... this year it is the driveway. next is the back deck... then its saving for 2 or 3 years... and new windows and dooors. ... we will do the family room floor at some point.. but that is not a huge. ... not like the windows and doors... lol.

    so far.. everything is on track money wise.
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    Canadian Guru
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    we do one thing a year too for the house -mind you last year was patio door and roof (didn't realize we needed a new roof til we saw shingles on the back lawn)

    I have to watch our spending as we are down a bit of money as hubby is no longer working due to health reasons
    Just got my HBC mastercard in and $104 paid off -wow that is xmas all paid for -love that feeling

    I will continue thrift shopping in the new year as I don't have a lot of clothing -slowly building it up

    only stock up when needed this year also -that's a big one
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  5. #5
    LoveToSave wimbly11's Avatar
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    Hi all, I haven't been active on SC in probably a year or more (had some really tough stuff I've been dealing with), but have been a member for a long time. Trying to get back on track in the new year and get my mental health as well as our household back into order, so I thought I would pop back on here for some wonderful tips and savings from this community.

    The past year saw us add to our debt quite considerably. It was a rough year on many accounts and we've now gone further into debt. My main goal this year to to pay whatever I can onto that debt. I want the debt gone. To do this I will be trying to reduce our grocery budget with coupons etc and be careful with spending. There are probably going to be changes for our family this year as well (perhaps another little one-still debating) so we really have to get back on track. I'm disappointed in where we've ended up, but trying not to be too hard on myself. I could talk for hours on what has happened the first year, and at this point I'm just happy I'm still standing.

    Will be checking in here often for tips and support
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  6. #6
    Smart Canuck
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    We are writing down everything we earn and everything we spend. It is a huge help in understanding where money goes and exactly where we stand on cash flow. The only income I do not record is one source that goes into an investment/retirement fund. I like to act as though that doesn't exist so it never gets tapped for anything. So far, so good.
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    [QUOTE=Giseledta;

    ultimatly, i would like to get the grocery budget down... and move a bit of those savings into the Mortage... it would not be a huge amount.. but if i did it... i could shave a year off...
    i will be watching this closely all year long. ultimatly.. it comes down to .. do we pay extra into retirement.. or house... and while its going to only be 100 - 150 a month... e.[/QUOTE]

    For that $100-150. Why not set up a separate TFSA and have the money automatically transferred into it. It is easier to manage if you break it into pay periods - if that means $50 twice a month - then do that. At the end of the year make your decision where it goes - mortgage or retirement. Or if you decide that it goes to the mortgage - talk to your bank and see if you can bump up your weekly or monthly payments by a bit. Most of them will let you have the additional taken right off the principal - saving huge amounts over time.

    Or just split the monies each time into those two options - that way you can pay down the mortgage and save for retirement (which, by the way, gives you an extra deduction on your taxes sometimes resulting in cash back - and plow that back into the retirement fund)


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    Shoot - sorry - the above was a response to giseldta - my quote didnít take


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    Last edited by endi2000; Fri, Jan 11th, 2019 at 08:16 AM.
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    A
    Last edited by endi2000; Fri, Jan 11th, 2019 at 08:17 AM. Reason: Revised
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    tracking where your money goes is certainly eye opening!!
    and i do the same thing.. i totally ignor any investments. if you dont think about it.. you dont want to spend it.
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    Senior Canuck Arjon's Avatar
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    Quote Originally Posted by wendymac View Post
    We are writing down everything we earn and everything we spend. It is a huge help in understanding where money goes and exactly where we stand on cash flow.
    I got a bit slack with recording money spent in a consistently prompt manner last year; I did record everything eventually, but didn't keep up as well as I should have. So while I don't make formal resolutions, this is one thing I'm focused on doing properly in 2019 (and beyond).

    I second how important it is to track all of one's spending. It's just a single example, but I know someone who does a decent job of shopping for deals, PMing, couponing, etc. but who didn't understand why this didn't lead to having at least some mad money. What this person didn't realize is that those savings would only become available as mad money (or for any other purpose), if some of it was kept rather than spent. And knowing what one is spending on is a critical first step toward reducing some expenditures in order to have the money not spent in hand.

    The major trap this person and others fall into by not recording their expenses is underestimating certain ones significantly, which also means underestimating the potential savings through cutting back. In my case, for example, I know from experience that before I started working from home, it was pretty easy to buy two or three coffees during a work day plus the occasional discretionary lunch. What I didn't know was how much these all added up to over time, and until I tracked them, I'd have guessed the total was far less than it actually was. Once I knew the actual total, it became an immediate priority to reduce it to an amount I was willing to budget instead of inaccurately telling myself I was being reasonably careful because not knowing let me do so.
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  12. #12
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    Endi2000- thanks!! the joy of starting late with retirement. we are sending extra towards it. and i do have my tfsa set up. however also sending extra to the house .. is where i think i will be heading.. .. this year we have extra being sent to retiement fund.. i am interested to see come tax time how that helps. ... i am really hoping it helps.....lol i tend to over think these things. then decide and done.

    Arjon... my husband says this alot to our children.. even if it is on sale.. if it is not a need is it really saving...
    on that note is the blue friday sale.. yes ... i could get alot of airmiles.. but nothing is really jumping at me. i dont have coupons for the items .. to bring it down to zero. .. and i am trying to do better on our pantry.. so... i think i will be passing on this sale.
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  13. #13
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    I'll be going from a 5 person household in 2014 down to a 2 person household in September 2019.

    I need to make sure we have all the educational grants allowed to the Penguinettes. And once the estate is finally approved I'm thinking of downsizing since it will be just me and lilP for 3 more years.
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  14. #14
    Canadian Genius
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    Payday tomorrow so budget clean up today.

    Disbursed all the funds for tomorrow (with tomorrows date)
    Payment made to town for property taxes. (Ahead of the game before they bill us.)

    Buying minimum needed groceries and paying with change that I saved to use this January.

    Topped up the cash in my wallet for my personal spending which I am trying not to do. Added an extra $10 to cover school lunch for DS 2 different days. (will try and hold off but at least I have the money needed if ready)
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  15. #15
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    This is great. I haven't gotten any plans yet but I am learning from your ways.

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