Archive for the ‘Financial Management’ Category

Hoarding An Illness And Finance

Wednesday, April 16th, 2014 by

There was a piece on the news today about how here in Vancouver we have something called a hoarding task force team. As the name implies, their job is to help hoarders get their lives back together. The reasons given was that hoarding so many things can ruins one life and personal health. As well, it can pose a safety hazard such as example which was used where in one case firefighters couldn’t save a person due to all the junk they had in the house.

What this got me thinking about was how many times even myself I say a big cause of financial stress is due to people buying and saving all this junk that they don’t really need. Since this is considered an illness for many, it made me wonder if sometimes when it comes to managing money it can be something more serious on why a person simply can’t be fiscally responsible, so to speak. In that case it’s like we are approaching it wrong in terms of giving financial advice when really it is something deeper than that.

Like in this case it’s not something a regular Joe financial adviser could fix. Maybe if you are stuck buying junk all the time for example it’s better to really think deep on what the real issue is. Example, if you buy things to simply impress people then it’s probably wise to think why. Err…this is starting to sound like some therapy session. Kind of shows that managing money isn’t always about the numbers and deals you can get but rather your mindset.

Potentially Having To Do Taxes The Old Way

Saturday, April 12th, 2014 by

So it was announced recently that there has apparently been some kind of security breach with SSL in general which affects the online tax filing system here in Canada. As a result, online submission services have been closed down for an unknown amount of time. The tax deadline is soon as well which means for many this can mean having to print out the returns and snail mailing it to the appropriate offices.

Feels like such a waste of paper even though this is how people commonly did it a few decades ago. I can only imagine too that the county has less staff to process manual tax returns like this too since more people were using online services. I can only imagine how everyone who buys a tax software and doesn’t pay attention to the news will be in for a surprise when they try to transmit it online only to get a message saying it’s closed.

The official notice is that this is due to the “Heartbleed bug” that is affecting most sites that use SSL. They say they are trying to get it back up soon, but be prepared incase it doesn’t to do things the old fashion way.

The Extra Recycling Fee

Tuesday, April 8th, 2014 by

This is one of those things that I guess I never really paid attention to when it came to buying canned drinks from the supermarket. I was essentially looking for a good deal on some coconut water and ended up seeing a pack of 24 for a decent price. So I decided to buy it. While it was tagged at about $14.99, the end price came out to a little over $17.

At first I was thinking it is simply the can deposit money that you can get back. Upon further inspection though it appears that there was a fee for the deposit as well as the recycling fee. Again, this is one of those things that I never really paid attention to as I don’t usually buy these items in bulk. It was kind of funny because I spent some time calculating how you will save about 12 cents a can by buying it in bulk. However, at the end of it all you are basically saving the extra fee costs.

I have gotten used to fees like this for electronics and so I always try to make sure I factor that in to the final total before determining if it is a good deal. At this rate, someday we will have to pay a disposal fee for anything that comes in a wrapper too huh? Almost makes me wish that stores have to display the actual final price tag of the item as opposed to one before taxes and all. Would make things a lot easier.

If School Is Too Expensive for You Financially

Thursday, April 3rd, 2014 by

Today I was hearing a story about a student who attends Duke University and goes under the alias Belle Knox. Like most people it seemed like she had to find a way to pay for all that education. In this case it was $60,000 a year. Her solution was to get into the porn industry and she explained how she could make like $1200 to $1500 per scene and that it was essentially better than graduating with like a six figure debt.

Aside from all the political and moral topics that this brings up, which I won’t talk about, what intrigued me a lot is the whole financial topic this brought up in terms of getting an education. For example, one point that was brought up was if you can’t afford a school with that price tag why not go elsewhere? At the same time, is paying for an education like this no different financially than say a person buying a car or TV that is out of their price range?

That’s where the topic seems to stump many as people always say you can’t put a price on things like your education. It’s kind of awkward in many ways huh? Example, many times we nag people that when it comes to things like your credit card you should never spend more than you actually have or that buying things beyond your means is a path to living in debt. Yet in this case many people would say otherwise. Makes me wonder if financially speaking these types of things kind of mold people into thinking that financial debt is simply a way of life and that if the option is there then use it.

Then again, I would imagine one of the biggest point of going to school is that it will help you get a job to become financially independent. But if after you will simply be living to pay off that debt then it kind of makes no sense. Maybe I am a bit crazy, but as an example if you were trying to go into a field with a trade skill I am sure working for a company/person can be equally as good as an alternative to getting an education.

It reminds me of the example I have used often of one guy who literally worked at Mcdonalds for years to then become a successful store manager. In comparison, there was another guy who spent like $30,000 to learn how to be a manager. Both of them are doing well and that kind of shows you that there truly isn’t just one way to get an education, so to speak. You have to consider the financial burden for anything.

Stocking Up Items With Free Coupons Inside

Wednesday, April 2nd, 2014 by

I noticed today that a cereal manufacturer was having a deal where if you buy its particular brand of cereals you would get like a coupon good for buying an item from a restaurant. The value of it was about $3. So if you think about it, buying that box of cereal is a better idea if you normally go to that restaurant a lot. Many people think that way too and so what they do is stock up on the cereal.

It can seem a little excessive, but it does make sense in many ways. The only real thing that would truly be bad I think is if you are buying more than you would have normally spent otherwise. Or likewise, if the free item you are getting is not something you normally purchase then it is simply an extra purchase that costs you extra money.

A common example of this too I see are cereals that give away free movie tickets. Again, makes perfect sense if you visit the theatres often. Many times the coupons are on the package of the boxes. So an alternative too is you can simply sell the product cheap to someone else if it is too much for you and still come up ahead.