My front eavestrough leaks, onto my front step. It gets very slippery out there. When it started happening a few years ago, my neighbour politely suggested that a drop of caulking would solve the problem, and I agreed that it might. In the meantime, the concrete step tile below the eaves is sinking lower than the other tiles. I do have a ladder. I don't have a caulking gun. It's probably worth looking into, while the weather remains mild.
Update, December 4:
Cost of caulking combo tube/gun: $9. Time to apply it to the seam: 3 minutes.
Tuesday, November 30, 2010
There's enough, for all of us
Dear parents and siblings,
This year, I have decided that my family unit will approach Christmas gift giving as follows.
We'll do our best with something small and hand-made for all of the children.
For the adults, I have taken the liberty of sponsoring two Christmas hampers through the Shepherds of Good Hope program, locally.
Our two sponsored families look like this....
Family one:
Mom and Dad, 7-year old girl, and 5-year old girl
Family two:
Two moms, 12-year old boy and 13-year old boy
The idea of the program is to put together the fixings for a special Christmas dinner, with small gifts for the children, and deliver them in person. My youngest and I will make the deliveries. My eldest will be with her father that week.
If you have any special suggestions about what you would like to see included in these hampers, make your suggestion and I will do what I can to make it real for these families, as my gift to you.
In the spirit of Christmas,
Sincerely,
Me
This year, I have decided that my family unit will approach Christmas gift giving as follows.
We'll do our best with something small and hand-made for all of the children.
For the adults, I have taken the liberty of sponsoring two Christmas hampers through the Shepherds of Good Hope program, locally.
Our two sponsored families look like this....
Family one:
Mom and Dad, 7-year old girl, and 5-year old girl
Family two:
Two moms, 12-year old boy and 13-year old boy
The idea of the program is to put together the fixings for a special Christmas dinner, with small gifts for the children, and deliver them in person. My youngest and I will make the deliveries. My eldest will be with her father that week.
If you have any special suggestions about what you would like to see included in these hampers, make your suggestion and I will do what I can to make it real for these families, as my gift to you.
In the spirit of Christmas,
Sincerely,
Me
Missed another memo
Apparently, the PD day care fee is due at the After School Club tomorrow: $189.
And why not, really...
And why not, really...
Somebody's got to win
Today is payday. The admin team who hand out our payslips (oftentimes with candy) organize a 50/50 draw every payday, with proceeds to a local charity of their choosing. For a person who never buys lottery tickets, I get much too excited about this draw.
When you are self-employed, billing by the hour and living simply, the associated compensation mostly works well. While you may give little or no thought to retirement, you may also not notice that your retirement savings program is paused for seven years.
For a person who lived strictly off irregular corporate dividends for seven years, I get much too excited at the reality of the regular paycheque associated with my day job. There always seemed to be enough money when I was self-employed, and I didn't have to track expenses or budget for them either. When I needed something expensive, I usually just worked extra hours.
While at times I miss that lifestyle, in writing this post, I am gently reminded that I did not require daycare during that period. I would not turn back time, even if I could.
Incidentals today? $1.
When you are self-employed, billing by the hour and living simply, the associated compensation mostly works well. While you may give little or no thought to retirement, you may also not notice that your retirement savings program is paused for seven years.
For a person who lived strictly off irregular corporate dividends for seven years, I get much too excited at the reality of the regular paycheque associated with my day job. There always seemed to be enough money when I was self-employed, and I didn't have to track expenses or budget for them either. When I needed something expensive, I usually just worked extra hours.
While at times I miss that lifestyle, in writing this post, I am gently reminded that I did not require daycare during that period. I would not turn back time, even if I could.
Incidentals today? $1.
Monday, November 29, 2010
Just another manic Monday
Dental appointment for the youngest to have a spacer cemented between two teeth: $250, although insurance might cover some of it. New boots for eldest: $50. My dress boot with the broken heel is in for repair: estimated cost is $20. Waterproof boot spray: $15. Safety salt for front step: $3. Knee patches for the snow pants: $2.
Plus there was a $20 trip to the drug store for a retirement card, 10 postage stamps, and some laundry soap. (We were running low, and it was on sale.)
Update, December 2:
Insurance covered $97 towards the cost of the dental appointment.
Plus there was a $20 trip to the drug store for a retirement card, 10 postage stamps, and some laundry soap. (We were running low, and it was on sale.)
Update, December 2:
Insurance covered $97 towards the cost of the dental appointment.
Every little bit helps
Count me in. A coworker is currently arranging a $5 per month discount on the hotel gym membership, for each of us in the group. The hotel is less than 500 metres from the office.
The accountant has spoken
In addition to his $2400 fee, and various tax amounts still to be calculated, he observed that I currently owe the business $6000. He added that CRA requires I have a plan in place to repay this amount (to myself) by December 31, 2010.
The money needs to be transferred from the personal line of credit into the non-interest bearing corporate account, where it should stay until the next annual review of the business. Both accounts are in my name alone, and I am the sole director of the corporation.
Update, December 2:
Just plain silly. I'm declaring that I've taken a $6000 dividend instead.
The money needs to be transferred from the personal line of credit into the non-interest bearing corporate account, where it should stay until the next annual review of the business. Both accounts are in my name alone, and I am the sole director of the corporation.
Update, December 2:
Just plain silly. I'm declaring that I've taken a $6000 dividend instead.
Next time we go to a concert
The eldest child has spoken. Bring more food, books, and toys; and sit at the back.
Sunday, November 28, 2010
Weekend roundup
I took the girls to a concert downtown on Saturday night. It cost us $25 for the tickets. With a 7 pm start, it was too late for the youngest and we left after the first song. Note to self: This was not time well spent. On the bright side, we arrived early enough to find a free parking space. To make this better next time, I could choose an earlier event or hire a sitter and leave the children at home. I find myself leaning strongly towards the latter.
My new scarf is working out well, both indoors and out. It's not like I don't have other ones, but it's nice to have a new thing in rotation.
The girls put up the artificial Christmas tree, and decorated it. We've been accumulating a mix of home-made and store-bought decorations since we moved into this house a few years ago. We clearly did not need any of the approximately $50 worth of new decorations I picked up at a Michael's sale a few weeks ago.
While they were working, I changed the sunflower wreath on the front door for something more in keeping with the festive season. It was one we had been storing in the garage, freshened up with a red bow that we found in the box of decorations.
Our family activities this weekend included a walk in the forest this morning. We fed chickadees and watched woodpeckers working along the way. After lunch, I sent the girls outside to play in the park across the street with neighbouring dogs and children. Also free!
This afternoon we found an hour together at the pool. We pay a monthly membership fee to use the upscale facilities at a nearby hotel, and it's open most of the time, including evenings, weekends, and holidays. Swimming is an activity that our family enjoys together.
Last winter, we often enjoyed ice skating as a family and with friends, but the cost of replacing two pairs of skates (even second hand) is not one I wanted to incur this weekend. I will take a closer look at the options in two weeks time when the three of us have our next weekend together. It will be approximately $100 to outfit them.
While we live a fairly active life, I am also trialling the Netflix service on the iPad for $8 per month. I like that there is no clutter associated with it. We live across the street from the local branch of the public library, so it seems kind of silly in a way because most of the content we are consuming is already available to us for free. We don't have cable TV.
Since starting this blog and with the recent return of the snow, I have been giving more thought to taking care of things that are expensive to replace. Today, I placed the cover on the air conditioning unit outdoors to protect it from the winter. Earlier this year, I subscribed to a monthly service which covered one very expensive repair of the unit last year.
Around this time last year, I tarped up the porch swing to protect it from the snow, although I have not yet done so this year. Something tells me that I should, although the rain does not seem to damage it in any obvious way. And yet, when spring finally came around this year, untarping it was the last job I actually wanted to do. The other thing I noticed is a chip in my windshield that has been there for a while.
The children are already asking for a second pair of winter boots. I suggested instead we buy waterproof spray for the ones that I bought them two weeks ago. I will look for some this week, and patches for the knees of a pair of snow pants that probably have one more season left in them.
My new scarf is working out well, both indoors and out. It's not like I don't have other ones, but it's nice to have a new thing in rotation.
The girls put up the artificial Christmas tree, and decorated it. We've been accumulating a mix of home-made and store-bought decorations since we moved into this house a few years ago. We clearly did not need any of the approximately $50 worth of new decorations I picked up at a Michael's sale a few weeks ago.
While they were working, I changed the sunflower wreath on the front door for something more in keeping with the festive season. It was one we had been storing in the garage, freshened up with a red bow that we found in the box of decorations.
Our family activities this weekend included a walk in the forest this morning. We fed chickadees and watched woodpeckers working along the way. After lunch, I sent the girls outside to play in the park across the street with neighbouring dogs and children. Also free!
This afternoon we found an hour together at the pool. We pay a monthly membership fee to use the upscale facilities at a nearby hotel, and it's open most of the time, including evenings, weekends, and holidays. Swimming is an activity that our family enjoys together.
Last winter, we often enjoyed ice skating as a family and with friends, but the cost of replacing two pairs of skates (even second hand) is not one I wanted to incur this weekend. I will take a closer look at the options in two weeks time when the three of us have our next weekend together. It will be approximately $100 to outfit them.
While we live a fairly active life, I am also trialling the Netflix service on the iPad for $8 per month. I like that there is no clutter associated with it. We live across the street from the local branch of the public library, so it seems kind of silly in a way because most of the content we are consuming is already available to us for free. We don't have cable TV.
Since starting this blog and with the recent return of the snow, I have been giving more thought to taking care of things that are expensive to replace. Today, I placed the cover on the air conditioning unit outdoors to protect it from the winter. Earlier this year, I subscribed to a monthly service which covered one very expensive repair of the unit last year.
Around this time last year, I tarped up the porch swing to protect it from the snow, although I have not yet done so this year. Something tells me that I should, although the rain does not seem to damage it in any obvious way. And yet, when spring finally came around this year, untarping it was the last job I actually wanted to do. The other thing I noticed is a chip in my windshield that has been there for a while.
The children are already asking for a second pair of winter boots. I suggested instead we buy waterproof spray for the ones that I bought them two weeks ago. I will look for some this week, and patches for the knees of a pair of snow pants that probably have one more season left in them.
Friday, November 26, 2010
Week 1 family challenge
Restaurant meals seem like a good first target in terms of bad habits we should probably break. My youngest child is 5, and she lives with me all the time. My 10-year old is with me every second week. This week we're all together, and I am feeding our family of three.
I have placed our first 7-day family challenge chart on the fridge, and promised both children $10 gift cards at their favourite book store if we can make it through the week without restaurant or take-out meals. If the challenge is met, we'll spend approximately $200 less than the last week the three of us were all home.
Update, December 2:
Challenge met. Kids received their gift cards. Hooray for teamwork.
I have placed our first 7-day family challenge chart on the fridge, and promised both children $10 gift cards at their favourite book store if we can make it through the week without restaurant or take-out meals. If the challenge is met, we'll spend approximately $200 less than the last week the three of us were all home.
Update, December 2:
Challenge met. Kids received their gift cards. Hooray for teamwork.
Breaking news
Reflecting on the cost of doing business has been sobering today. What will my Line of Credit look like, after the accountant and tax man have both been paid? Did I make any progress with it in recent months? I suspect the answer is no, or perhaps just not much.
I'd been planning a $10000 investment in the business in 2011, to update the corporate web site. I've just paused it, at least until 2012, and I'm giving my head a little shake. The expense of such a project is clearly not in the cards, and does not belong in the books.
I'd been planning a $10000 investment in the business in 2011, to update the corporate web site. I've just paused it, at least until 2012, and I'm giving my head a little shake. The expense of such a project is clearly not in the cards, and does not belong in the books.
Thursday, November 25, 2010
2011: The Monthly Budget
With revision, and enforcement, I might break even.
The question remains: What to do about the credit line? Any progress I did make with it in 2010, was with money brought in from my incorporated company.
This could be a bigger mess than I first thought.
Missed the memo
It seems I should have opened the PDF attachment in the last email message I received from the accountant, before I went to see him earlier today. He estimates his annual fee to be $2400. That's more than I expected to pay. On the bright side, I do remember that I had to pay his $3000 fee last year in a series of installments, as my personal line of credit was completely exhausted at the time the bill came due. It's progress of sorts, I suppose.
Venturing out for a networking lunch
I arrived at our designated meeting point ahead of schedule, on a cold and blustery day. Loitering cost me a coffee: $2. Add a winter scarf for another $20. Gum: $2. Parking: $20. Lunch itself: $20. Post-lunch coffee: $2. Total cost of outing: $66.
Fix the wobbly heel on the dress boots soon, and park a bit further away next time, in a free spot on the street. Worry less about coffee and gum. On the bright side, a recent referral I made to this client/friend might pay out a $500 referral bonus. Too soon to tell.
Fix the wobbly heel on the dress boots soon, and park a bit further away next time, in a free spot on the street. Worry less about coffee and gum. On the bright side, a recent referral I made to this client/friend might pay out a $500 referral bonus. Too soon to tell.
Things that need fixing, eventually
The back tail light unit on my car is cracked, and has been for nearly a year when I backed into a parked car across from my driveway. The parked car was not damaged, thankfully. My tail light still works; it's not a safety issue. The estimate is approximately $400. As long as the moisture does not corrode the inner workings of the unit, it can wait.
There is a crack in inner pane of the upstairs bedroom window. The repair involves replacing the entire window. The cost of delaying the repair seems limited to heat loss. My mom suggested I upgrade the window when I am ready to replace it. I have not obtained a quote. I suspect it's in the range of $2000. A friend suggested that my home insurance might cover it, as the house is less than 10 years old, but I have not looked into it.
There is a crack in inner pane of the upstairs bedroom window. The repair involves replacing the entire window. The cost of delaying the repair seems limited to heat loss. My mom suggested I upgrade the window when I am ready to replace it. I have not obtained a quote. I suspect it's in the range of $2000. A friend suggested that my home insurance might cover it, as the house is less than 10 years old, but I have not looked into it.
Wednesday, November 24, 2010
Here we go.
This is a financial blog. I will use it to document the ongoing reduction and eventual elimination of my personal debt. I imagine it will have inspiring charts and things like that. I know myself well enough to expect many steps forward, with a handful of steps back.
I am self-employed as a consultant, and I also have had a full-time job since October 2009. I was raised by bankers, and work in the technology sector. I am single. I am raising two children. I have a good credit history.
How I got here: I was without income for 6 months in 2009. During this time, I completed an international adoption which went over budget by approximately $20000.
My biggest going concern is my line of credit, to which I currently owe $11500. The credit limit is $20000. I have just realized that I will need to borrow an additional $1600 from it in December to pay my next Visa bill.
I also have a mortgage, a car loan, and an adoption loan.
It is fiscal year end for my incorporated company. Tomorrow, I am taking the shoe box of receipts to the accountant. I expect to owe additional money: to the accountant, and to CRA for the new harmonized sales tax and for corporate income tax. I have no idea how much is owed, but I hope it is less that $7000. I have a very good accountant.
It is time to clean up the mess.
I am self-employed as a consultant, and I also have had a full-time job since October 2009. I was raised by bankers, and work in the technology sector. I am single. I am raising two children. I have a good credit history.
How I got here: I was without income for 6 months in 2009. During this time, I completed an international adoption which went over budget by approximately $20000.
My biggest going concern is my line of credit, to which I currently owe $11500. The credit limit is $20000. I have just realized that I will need to borrow an additional $1600 from it in December to pay my next Visa bill.
I also have a mortgage, a car loan, and an adoption loan.
It is fiscal year end for my incorporated company. Tomorrow, I am taking the shoe box of receipts to the accountant. I expect to owe additional money: to the accountant, and to CRA for the new harmonized sales tax and for corporate income tax. I have no idea how much is owed, but I hope it is less that $7000. I have a very good accountant.
It is time to clean up the mess.
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