Footwear - the struggle is real

Shoes (and boots) are so tempting to buy. After all, you don't have to get undressed to try them on, there are soooo many styles and occasions for use. Until we both had well paying, steady jobs (~40yo) I wore cheap shoes (Woolco, Zellers then Walmart). I'm easy on shoes and have no foot problems. I'm still easy on shoes and have no foot problems but my purchasing style has changed. I had a lot to learn before I could really afford to make that change.

Mail from the Feds duh duh duhhhh🎹

Two things form the bulk of my mail; fliers and official communication from the Federal government. This time it's from Service Canada and since I haven't put in for a passport renewal I was puzzled. Oh yeah, this year I turn 60 - not only a time for seniors discounts but early CPP application.

Time for more reviews

I really don't feel like we spend that much money on "stuff" but we do😟 Here are three more new things I've been been using.

Quick reviews

The hardest part of being retired is I am still a huge consumer. I'm trying to focus more on small items to help stay in budget. If I do spend big - I expect high quality and reliability. Here are my most recent 3 purchased items.

Tax time ... again

This year I finally took the opportunity to download my tax documents from the CRA into a fresh return and, like Samsung Pay, why I didn't do this sooner. As someone who started doing taxes when you had to look numbers up on a chart (not even calculations!) I have to wonder why anyone with a computer wouldn't use tax software to file on line.

As an ex-employee and a shareholder I don't see why money can't be divided between all stakeholders. Some for pay boosts, some for research and some for production efficiencies that reduce pollution conserving resources.

As an ex-employee and a shareholder I don't see why money can't be divided between all stakeholders. Some for pay boosts, some for research and some for production efficiencies that reduce pollution conserving resources.

Without employees (aka workers) companies would not be able to be sucessful. That's why employers are always complaining about workers - and vice versa. Companies broke the employer/employee relationship by extracting wealth instead of sharing it. Of course this affect small businesses most as they are more affected by employee malfeance but small business insists they are the same as big business. And their are always efficiencies that could be implemented there is just no impetuous to do so without fines and other retaliatory measures from government's.
https://www.cbc.ca/news/business/stock-buybacks-analysis-1.4771344

Where you are in life would certainly affect how you handle joint financial obligations.

Where you are in life would certainly affect how you handle joint financial obligations.

Fred and I were a pretty traditional couple. We each brought a vehicle to the marriage and I had a student loan. That made it easy(ier) to combine income into one pot to ensure equal distribution should the marriage fail. After all, neither of us would be able to pursue the career choices we made without the other. I also changed my name because I was starting in a new field and had no reputation to protect.

Now would be different. If something happened to Fred and I entered another relationship (super unlikely) I would contribute to a joint account to share expenses. My spending habits are none of their business, also they would be under no obligation to help me out of debt.


https://www.thecut.com/2018/08/how-to-approach-money-matters-with-a-live-in-partner.html?utm_source=nym&utm_medium=f1&utm_campaign=feed-part

Oh the contortions needed to prop up the idea that capitalism is merit based.

Oh the contortions needed to prop up the idea that capitalism is merit based.

We pay for stuff we want because we had good paying jobs that allowed us to save to maintain our lifestyle after retirement. That guy voting for Trump should be asking why his employer isn't paying him more. Efficient goods are cheaper than inefficient (locally produced) goods and he still can't afford them - but the company owners - super rich! Let the US devolve into a Russian style economy that has no middle class. They have inefficient production and are living hand to mouth. I guess it's worth it as long as you can oppress others.
https://www.cbc.ca/news/business/economic-efficiency-backlash-1.4762498

Loblaws doing the right thing by implementing 2 factor.

Loblaws doing the right thing by implementing 2 factor.

The new points system must be a real boon to the struggling. Points are maximized for routine purchases, Joe Fresh and Shoppers Drug Mart bonuses. They are like cash - no restrictions - so they should be securable like cash/interac.

I'm really thinking of getting one of those physical keys that will work with my phone, tablet, 'puter.
https://www.cbc.ca/news/business/aeoplan-pc-optimum-points-theft-1.4764484

Publically owned companies are usually multinational so they can buffer against regional vagaries.

Publically owned companies are usually multinational so they can buffer against regional vagaries.

The countries promoting nationalism are also supporting capitalism. Really unless governments start shutting down foreign ownership, I don't think the equities are really at risk unless there is a synchonus (sp?) world wide collapse.
https://www.moneysense.ca/save/investing/stocks/do-markets-really-care-about-uncertainty/

Find someone you trust and let them be the voice of moderation.

Find someone you trust and let them be the voice of moderation.

I used to be a successful investor on my own, picking stocks and mutual funds (I did see a 300% return on my nephew's RESP so I must do something right). Since the turn of the century companies seem to working on quarterly instead of long term gains and traditionally solid stock (GE for example) struggle to adapt. I find it frustrating to say the least. I have the attitude that money in the stock market is there to lose but I also want solid grow so we work with a professional (IG). Otherwise I think I'd keep my money in a sock.
https://www.moneysense.ca/save/investing/how-your-advisor-is-helping-you-avoid-the-big-mistake/

QFT Real clarity around how much a lifestyle costs, and how someone can afford it, is helpful because it completes the picture

QFT Real clarity around how much a lifestyle costs, and how someone can afford it, is helpful because it completes the picture

There's a reason money isn't talked about a lot and that's because people are very judgy about how other people spend theirs. Refinery 29 has had a wide range of earnings, this one just should have been framed more honestly.
https://www.flare.com/news/refinery29-money-diaries-a-week-in-nyc-on-25-an-hour/

I find it interesting how many budgets in Refinery29 includes parents paying for stuff - even with high earning. And free food.

I find it interesting how many budgets in Refinery29 includes parents paying for stuff - even with high earning. And free food.

Some of the student loan debt and rental costs were astounding as well. I think there was one Canadian piece where the numbers seemed realistic compared to people I work with but then I worked with production people - I think the admin side is paid much less.

I think a set of bath towels is a great wedding gift. Many people don't realize they are consumables.

I think a set of bath towels is a great wedding gift. Many people don't realize they are consumables.

And really a gift is a gift of what you can afford.
https://www.chatelaine.com/living/budgeting/wedding-gift-budget/

This is the correct move, so I am glad they are doing so. Modern investing is about broad asset classes, and ETFs are the best way to construct a portfolio that touches on various asset classes, especially with their low costs.

This is the correct move, so I am glad they are doing so. Modern investing is about broad asset classes, and ETFs are the best way to construct a portfolio that touches on various asset classes, especially with their low costs.

In principle you can do the same thing buying individual stocks, but it's much more complicated to do so, demands a great deal of research, will involve large transaction costs, and almost certainly will not yield better performance than an ETF or low cost index fund such as Vanguard's.


https://www.cnbc.com/2018/06/12/millennials-are-dumping-their-individual-stocks-and-flocking-to-etfs-schwab-survey-shows.html

Not a fan of his but he is right. Money should be talked about early in relationship.

Not a fan of his but he is right. Money should be talked about early in relationship.

So many times one partner get caught up in trying to pay their own way on a lower income yet are uncomfortable bringing it up. There's also the prickliness that come from money ownership.
https://www-cnbc-com.cdn.ampproject.org/c/s/www.cnbc.com/amp/2018/06/08/kevin-oleary-ask-your-significant-other-these-questions-about-money.html

I would not be able to bring myself to assume someone else's debt. Even spousal unit after over 30 years together.

I would not be able to bring myself to assume someone else's debt. Even spousal unit after over 30 years together.

We blend all money then pull allowances for unbudgeted personal fun money (aka Sephora). That worked for us because we both came to the relationship with no assets and student loans. Most people would probably just put money for household expenses in a joint pot and keep paycheques going into their own accounts? Anyway, I know of 2 out of 2 women who left their spouses and were held hostage by joint debt that he would keep adding too (and the woman couldn't afford to pay off.) I'm sure the reverse happens as well. Best not to get into that situation in the first place.
http://www.moneysense.ca/save/debt/merging-family-debt-mortgage-risk/

In addition to interest rates, you now have to judge banks on IT Security?

In addition to interest rates, you now have to judge banks on IT Security?

Once data is out there it can be pretty difficult to recover without the help of your bank. At least mobile banking apps allow you to monitor your accounts. But it makes securing your PIN even more important if you are not using tap to pay.
https://www.cbc.ca/amp/1.4683143

Are there an unusual amount of people in Ontario who have no idea how insurance works? Or are their reps not divulging this stuff.

Are there an unusual amount of people in Ontario who have no idea how insurance works? Or are their reps not divulging this stuff.

Every time we get a new car or move, routine questions questions include using vehicle for commuting and commuting distances. Luckily in Alberta it's not all no fault and 'people who drive this car model have accidents' based premiums.

Our house insurance provider is also proactive in informing us if changes and requirements. It's also common knowledge to have your house checked every 24 - 48 hours when you go away.
https://www.cbc.ca/amp/1.4673094

If you are going to have long hours you may as well be a franchise owner.

If you are going to have long hours you may as well be a franchise owner.

What better way to get into small business than franchising? Alberta has tax laws carved out to help small business and there can be a consistent product offered. Way better than the pyramids like schemes that home businesses seem based on as they don't rely on selling to friends and pursuing others to sell the product. Of course you have to be personable as you have employees and customers but the franchise operation would hopefully help with that as well.
https://www.cbc.ca/amp/1.4669153