How much do you spend on transportation? It can easily add up to a chunk of your budget when you add it all up. Do you…

• Own your own vehicle
• Use public transit 
• Bike or walk
• Have the use of a work vehicle
• Use a car co-op
• Cab it
• Rent

Each mode of transportation comes with it’s own set of pros, cons and costs. I think the bottom line is that we pay for convenience however with the growth of car share concepts there are more options at competitive rates.

It’s a good idea to consider the total cost of your chosen chariot and weigh this against the cost of convenience. Don’t forget to include expenses such as parking, insurance, repairs and maintenance (bikes have these expenses too). Evaluating your choice(s) against your values can be important. Consider the environment, work requirements and lifestyle.

Putting together a nutritious meal after a long day at work is not something I look forward to. There are the added pressures of getting the food on the table quickly and serving something they will like. ‘They’ are two kids under 6 who seem to burn through food very, very rapidly and yet perk up once fed! 

Below are some suggestions for quick, easy and in budget meals. Most of us have the staples in our fridge and cupboards to put these together.

• Tuna melts (canned tuna, mayo, mustard on bread with cheese on top – toasted) and canned soup (make with milk).
• Pesto pasta (chop up and saute vegetables, add to cooked tortellini, add a small amount of milk or whipping cream and some pesto from a jar) and salad.
• Chicken stew (chicken breast or thighs in a slow cooker with lots of root vegetables, mushrooms, a can of diced tomatoes and broth) and biscuits or rolls.
• Bean burritos (chop up and saute vegetables, add black beans and serve in a quesadilla with cheese and salsa).
• Omelette (as many eggs as diners, beaten with a little milk, prep the pan with a little butter and add sliced ham, vegetables, cheese or whatever you like) with toast.

Bon appetit!

Who hasn’t bought a lottery ticket? I don’t buy them regularly but every now and then I do. My  logic is that a) you can’t win if you don’t buy a ticket and b) somebody has to win and c) it’s good value for my $2.

A friend of mine says that she’s part of the lottery pool at work because she just couldn’t stand it if her coworkers won and she was the only one left at work and left out of the money! The first time ‘we’ bought a ticket…my husband was grumping around when we checked the ticket and found out that we didn’t win (not a big surprise really considering the odds) and when I asked why he was taking it so hard, he said that he’d never bought a ticket before and because we’d bought one, he expected to win! I also know of people who buy them as their ‘Financial Plan A’. 

When I reflect on the reasons different people have for buying lottery tickets I realize that it says something about how each of us view money. How do you think about money?

It didn’t take too long but a few minutes spent re-arranging the shelving unit beside my desk has made such an improvement! I knew where things were (mostly) and the biggest change was grouping ‘like’ items in the same sections. I do Lean Continuous Improvement in my ‘other job’ and a 5S can really apply to almost anything. Five simple steps:

• Sort
• Straighten
• Shine
• Set in Order
• Sustain

Scope your project by setting a manageable goal of a shelf, an area or a set of files at one time to work on as opposed to tackling the whole job. It’s amazing what improvement you can make in just a few minutes. Give yourself a little lift!

This is an ideal tool to use to organizeyour financial papers.

The tortoise and the hare can teach us a lesson on this subject too! Whether you are saving for retirement, a big trip, a home or something special, slow and steady does it. Here are a few reasons why:

• If the amount is built into your budget, it is part of the plan
• Automatic monthly transfers = it will happen
• Regular deposits/purchases = dollar cost averaging
• Automatic savings = no anxiety with respect to ‘when to buy’
• Invested wisely (see below) and it will grow
• Add ‘windfall’ money and it will grow even faster

Don’t forget to make sure your hard earned money is invested in an appropriate investment. Consider the following 3 things:

1. What – The purpose for the money
2. When – This dictates how long you can invest the money
3. You – What is your risk tolerance?

We needed a little break and to maximize our time, I booked a hotel in our home town of Vancouver. Grandparents were babysitting and we had one night. I must say that we’ve gotten quite good at quickly moving into relax mode. You have to be when you both work full time, have two busy kids and try to fit in the rest of life around the edges!

We stayed downtown in an older hotel but our room had been renovated and had a fabulous view of the north shore mountains, Stanley Park and the harbour. I realized that although I’ve traveled a lot and in many big cities, I’ve never stayed downtown in a major city with such an incredible view. It really felt like more than 24 hours.

The rest of our mini-break was spent out for dinner (gift certificate), biking around Stanley Park ($17), breakfast ($12), coffees ($30) and the hotel was on sale ($184). We took a Car2Go to and from as we knew we didn’t need a vehicle once we were downtown ($7.50).

Very enjoyable and great value!

The 80/20 rule can apply to most anything. Even financial planning! If you’ve been meaning get your financial house in order, don’t wait for the perfect plan.

You might be surprised how many steps forward you can take once you’ve got the majority of the thinking done. Details can always be added or refined as long as an infrastructure is in place. These two pieces of information are your foundation:

1. Goals and objectives
2. A reasonable idea of your income and expenses

Once you have them in mind, drafting a budget that incorporates your goals and objectives is the next step. Turn it into reality by setting up monthly savings transfers or increasing debt payments. Take action and you will be off to a solid start. If you wait until your plan is 100% complete, it will remain just that, a plan!

As the weather improves and the temperature warms up, so does the fun. Weekends away, barbecues, weddings and summer holidays start to fill the calendar. It’s easy to accept many invitations and deal with the bills later. Save yourself some spender’s remorse and check whether your budget can handle all the holidays.

1. Take a look at your calendar and review your plans.
2. Estimate the costs.
3. Add them up.
4. Compare the total to what’s in your budget.

Do you have enough to pay for your plans? If not you have several options:

• Increase your budget by decreasing what you spend on something else.
• Earn some extra cash to cover the difference.
• Make some choices with respect to what you’ll do and what invitations you will decline.

Still find it tempting to have the fun and worry about the bills later? Think about your goals and consider what you want more….the two month trip to Europe, the down payment to buy your first home or summer weekend fun.

Are you expecting a tax refund? If so, do you have a plan?

The best way to get the most out of your tax refund is to have a plan. It’s your money after all – coming back to you! Before you dip into it (even a little bit), take a moment to think about your goals and what kind of a difference this money could make. Even if it’s a small amount, it all adds up.

• Are you saving for anything? A wedding, a trip or a new car? This could be a great start.
• Do you have a nagging debt that you want to be rid of?
• Have you started saving for retirement? Funds put into a Retirement Savings Plan today can serve many purposes such as planning for your future, a contingency fund or home down payment. In any case, it likely ensures less tax paid next year too!

Knowing what you want to do with the money may be all it takes to tip the balance to use the funds towards one of your goals before it disappears amongst all the other ‘ins and outs’ of your bank account.

If you aren’t expecting a tax refund, you won’t pay interest and penalties if you submit your taxes by the deadline (April 30th for personal taxes). If you can not submit them by April 30th, do it as soon as possible to minimize these extra costs!

A chore few people like to do but one that must be done! The due date for filing personal income taxes to Canada Revenue Agency is April 30th. If you owe taxes, submitting by this date means you will avoid fees and penalties.

I read an article recently that said that most Canadians would rather clean the bathroom than do their taxes! I think it may be because we only do it once a year and there are often changes that take time to figure out. Tax preparation software can help to make the process smoother but good organization probably makes the biggest difference.

• Gather all your tax slips and receipts
• It can be helpful to have your 2010 Notice of Assessment and Income Tax
• Do it (it will take less time than you think!)
• Make notes on 2011 for your reference
• Make notes for 2012

If all else fails, there are plenty of people who will do your taxes for you. It usually takes less time than you think it will.