tag:blogger.com,1999:blog-173485842024-03-23T14:22:04.300-04:00The Frugal CanadianA frugal spender seeks to find new ways to save money and increase her net worth.Unknownnoreply@blogger.comBlogger52125tag:blogger.com,1999:blog-17348584.post-4924594477551992082010-09-10T15:38:00.003-04:002010-09-10T15:51:33.591-04:0010 days into the new grocery store regimeI am now 10 days into my new grocery shopping habits. In 10 days our family has spent $175 which puts us on track for a $525/bill for the month. I did very good in week one, doing only one shop and this has done the majority of our groceries for the entire week and a half. This week though has been a busy one and I've found myself running out of a few items and having to make a few extra trips. This no doubtedly would have been solved had I made the Sunday shopping trip at the beginning of the week.<br /><br />Meal planning has really helped me get better use of my groceries and reducing waste. <br /><br />Kraft gave me some great ideas on buying one bag of groceries for five dinners. Although I didn't follow all the dinners, it certainly gave me some good ideas. Here's the link: http://www.kraftcanada.com/en/recipes/dinner/1bag5dinners/main.aspx<div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-17348584.post-21708252437187264892010-08-31T08:14:00.002-04:002010-08-31T08:24:24.394-04:00Reducing our Grocery BillI used to be very good at managing our food budget, but it has increasingly become a larger and larger expense each month. A recent analysis of our expenses showed that for a family of 3 we're spending close to $900 a month on groceries. This includes our 2 year old son, who at this point, really just eats scraps. I've set a new budget of $500/month initially and would like to get it down to $400. <br /><br />I plan on doing this by setting a weekly menu and do one big shop. Our busy lifestyle has left us with last minute meal ideas and many trips throughout the week to the grocery store. Without a plan, we often would pick up convenience foods, or buy a few items on our way home without a real plan. The result is a higher cost for prepared foods which are undoubtedly higher in sodium and less healthy and a lot of wastage food. We'd buy items on a whim without any plan for them only to find them waste away in our fridge. We once thought that picking up a few items each night for dinner would help reduce our bill but it's had the opposite effect. We often pick up extras adding to a higher bill and it doesn't address existing leftovers in our fridge. So what I'm hoping to do is set a weekly menu which will list out all ingredients for the entire week. This means that if I have a stirfry on Monday which has broccoli, I'll plan later in the week to have another meal with broccoli so I don't let half a head of broccoli go to waste. This will help me know exactly what i'm spending on each week and also eat a better diet. Also, once I have a spreadsheet of prices, I'll be able to better budget as I'll know exactly what items are costing me. Wish me luck!<div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-17348584.post-27456370985962835392010-08-31T08:11:00.003-04:002010-08-31T08:14:29.989-04:00I'm backIt's been over 2 years since I've made a post but I'm finally reviving this blog. Much has changed over the past couple of years and I've been kept very busy with our 2 year old. Over the past two years our family has been not so frugal, focusing mainly on convenience for our changing lifestyle. My husband and I are expecting our second child in January at which point will be looking to upgrade our house. I'll be on maternity leave leaving my husband to cover most of the bills, so I'm looking for ways to reduce our monthly costs and return to the life of frugality.<div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-17348584.post-9070498031686553432008-02-24T14:40:00.002-05:002008-02-24T15:05:14.661-05:00Waiting for T3 slips to file your tax return?By now, many Canadians will have received a number of T4 and T5 slips and are just about ready to file your tax return. If you hold mutual funds, some ETFs or trust units however it could be well over another month before you receive your T3 slips. While T4 and T5 slips must be issued by the end of February, T3 slips do not have to be issued until 90 days after their year end, leaving most slips being issued around March 31st. Last year many of these slips did not often arrive in people's mailboxes until mid April. This is often a hassle if you want to file your return early, especially if you're expecting a large refund in the current year. <br /><br />There is a solution to enable you to file early without receiving your T3 slips. Trusts and fund companies are required to report the tax information on these units by Feb 28 2008. This information will be publicly available on CDS Innovations Inc.'s <a href="http://www.cdsinnovations.ca/cdsinnovationshome.nsf/Pages/-EN-Welcome?Open">website</a>. Currently information is posted up to the 2006 year. 2007 numbers will appear shortly.<br /><br />Here's how to access this info: From the main welcome page, click on the Tax Breakdown Posting link, select your language preference and then choose the type of slip you are waiting for - T3/T5013 or if there is a late T5 you're still waiting on these will also be available. The slips are filed by security name and there is an excel spreadsheet available for download which shows each month's distributions on a per unit basis. <br /><br /><br />As an example, let's say during 2006 you held Pengrowth Energy Trust units for the entire year in 2006. The month of January shows that a distribution of $0.25/unit was paid out to unitholders, of which $0.23750 is taxed as interest income and the remaining $0.01250 is taxed as return of capital which reduces your adjusted cost base. Based on this information you can then take your distributions that you received and allocate the total distributions to 95% other income and 5% as return of capital and report this as if you received your T3. It will take a little bit more effort on your part and if you hold a large number of funds, this could be a time consuming process. However, this can be very helpful if you're willing to spend the extra time and effort.<div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-17348584.post-73142036631578195022008-02-02T13:53:00.001-05:002008-02-02T15:50:18.721-05:002007 Tax Software Reviews<span style="font-size:85%;">It's that time of year again when many Canadians are starting to buy personal tax software packages. It can be confusing for many people and each year the number of software providers is increasing. I personally find the most popular tax program <a href="http://www.intuit.ca/tax-software/index.jsp">QuickTax</a> to be the most expensive and most confusing. This year they've come out with about 4 different versions. For most Canadians, they are buying a software package to make the tax filing process easier. QuickTax however, starts off by making the process more complicated than needed. They offer many different versions raning from a Basic to Business Version leaving the taxpayer with questions about which product is best for </span><span style="display: block;" id="formatbar_Buttons"><span class="on" style="display: block;" id="formatbar_CreateLink" title="Link" onmouseover="ButtonHoverOn(this);" onmouseout="ButtonHoverOff(this);" onmouseup="" onmousedown="CheckFormatting(event);FormatbarButton('richeditorframe', this, 8);ButtonMouseDown(this);"></span></span><span style="font-size:85%;">them. When I first looked at the options this year, I thought I may have mistakenly ended up at the Windows Vista page. Given the wide array of products out there for Canadians, I recommend looking around at other alternatives. Many of the new programs allow you to download the program and try it out before purchasing. My top picks for the 2007 tax year are <a href="http://www.studiotax.com/en/main.htm">StudioTax</a> for Windows and <a href="http://www.taxfreeway.ca/mac/">TaxFreeway for the Mac</a>. Here's a chart to help you wade through your options. </span><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjLItJABExHXS8bJYoNrGrjT3mMD9BzMzswi9m_ODtK4EKKS91lwWOvP5KG9WtzNby1c3zWR2JA-zrmZ7_kfUO36pWPaalu8r55qTDqGQjKFdVb3wIWp95sH-vSWp4Z-oGiOsQ-0g/s1600-h/taxreview2007.jpg"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 681px; height: 525px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjLItJABExHXS8bJYoNrGrjT3mMD9BzMzswi9m_ODtK4EKKS91lwWOvP5KG9WtzNby1c3zWR2JA-zrmZ7_kfUO36pWPaalu8r55qTDqGQjKFdVb3wIWp95sH-vSWp4Z-oGiOsQ-0g/s400/taxreview2007.jpg" alt="" id="BLOGGER_PHOTO_ID_5162485634232574674" border="0" /></a><div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com5tag:blogger.com,1999:blog-17348584.post-65082124661817203222008-01-28T12:53:00.001-05:002008-01-28T13:05:43.252-05:00Tax Software for MacsUp until 2007 there have been very few options for Mac users wanting to file their tax returns electronically. Users could use web-based programs such as U-file and <span class="blsp-spelling-error" id="SPELLING_ERROR_0">QuickTabWeb</span> but there haven't been many <span class="blsp-spelling-error" id="SPELLING_ERROR_1">downloadable</span> options.<br /><br />I switched to a Mac late in 2007 and was wondering what I would do during tax time. I happily made the switch to a Mac and have had no need for Windows programs up until now. For the past few years I have used the Windows version of <a href="http://www.taxfreeway.ca/mac/"><span class="blsp-spelling-error" id="SPELLING_ERROR_2">TaxFreeway</span></a> which I have been quite happy with. Much to my surprise they have come out with a version for the Mac! While the windows version is $9.95 for up to 20 <span class="blsp-spelling-error" id="SPELLING_ERROR_3">netfiled</span> returns, the Mac version is $14.95(for a limited time before it increasing to $19,95). While I'm unhappy about the higher price, I test-<span class="blsp-spelling-error" id="SPELLING_ERROR_4">drove</span> the Mac version on the weekend and once again it meets my needs. I was happy to see that I could <span class="blsp-spelling-error" id="SPELLING_ERROR_5">carryfoward</span> information from my 2006 Windows version into the Mac version so I did not have to re-enter all this information. For most people, I think <span class="blsp-spelling-error" id="SPELLING_ERROR_6">TaxFreeway</span> is an excellent choice. While it may not have as many bells and whistles as <span class="blsp-spelling-error" id="SPELLING_ERROR_7">QuickTax</span>, it definitely gets the job done at a very affordable price.<br /><br />Another program available for Macs is <a href="http://www.blogger.com/www.taxtron.ca"><span class="blsp-spelling-error" id="SPELLING_ERROR_8">TaxTron</span></a>. It is a little pricier especially if you have a need for multiple returns. The price range from $19.99 - $39.99. You can also download a version for free to try it out.<br /><br />For a complete list of your tax filing options, see <a href="http://www.netfile.gc.ca/software2007-e.html">Canada Revenue Agency's site</a>. While many tax providers are already claiming that are <span class="blsp-spelling-error" id="SPELLING_ERROR_9">Netfile</span> certified for 2007, <span class="blsp-spelling-error" id="SPELLING_ERROR_10">CRA</span> doesn't officially certify providers until the end of January. <br /><br />Happy tax filing!<div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-17348584.post-50059467772888417732007-03-22T08:16:00.000-04:002007-03-22T08:33:55.475-04:00Mortgage and House UpdateA while ago I wrote about whether or not or not we would prepay a <a href="http://frugalcanadian.blogspot.com/2007/01/to-prepay-or-not-to-prepay.html">mortgage</a> and how much our <span class="blsp-spelling-error" id="SPELLING_ERROR_0">downpayment</span> would be. We decided on putting 25% down, under a 5 fixed rate mortgage with bi-weekly payments. As new <span class="blsp-spelling-error" id="SPELLING_ERROR_1">homebuyers</span>, we weren't really sure what we were getting into. The house that we purchased is an older home and we knew that we could have have some unforeseen repair bills. We ended up putting half of our net worth into the house and have kept the the other have invested in a diversified portfolio including <span class="blsp-spelling-error" id="SPELLING_ERROR_2">RRSPs</span>. Keeping some cash outside the mortgage ensured we would not be cash poor and have some flexibility. We plan to make aggressive prepayments every year. Our goal is to be mortgage free on this property in 7 to 10 years.<div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com4tag:blogger.com,1999:blog-17348584.post-66738035798547479082007-03-21T18:13:00.000-04:002007-03-21T18:45:04.261-04:00Fighting the urge to spend moneyI desperately want a new computer. My existing PC is extremely slow and increasingly becoming less reliable as I see the blue screen of death more and more these days. I've decided to make the switch to a Mac and am looking at a model which retails for $1699($1937 including tax). <br /><br />Maybe I've been completely swayed by Apple's clever ads. The "<a href="http://www.apple.com/ca/getamac/ads/">restarting</a>" ad is a personal favourite at the moment. Although it is more expensive than a comparable PC, most of my computer time is spent on multimedia activities and after checking out Macs failry extensively I decided to make the switch. Still, I'm not going to rush out and buy one. I've set a goal of raising enough money from sources of income other than employment. I've been working hard since January 2006 and I'm getting pretty close.<br /><br />Poker winnings - 890US ~$1000CDN<br />BestBuy gift card - $100 CDN - from a poker bonus<br />Focus Group Stipends - $200 - for attending marketing research group sessions<br />Side Business Income - $335<br />Pending Business Income - $250<br /><br />Total - $1,885<br /><br />I'm so close but still short $50. I should reach my goal by the time <a href="http://www.apple.com/ca/macosx/leopard/">Leopard </a>comes out.<div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com15tag:blogger.com,1999:blog-17348584.post-12753088658679528412007-03-19T18:55:00.000-04:002007-03-19T19:41:28.068-04:002007 Federal BudgetHere's a quick highlight on the 2007 Federal Budget relating to personal income tax matters. Other than the new child tax credit, there are not many significant changes. See <a href="http://www.budget.gc.ca/2007/bp/bpa5ae.html">here</a> for full details. While there are many corporate tax measures, I've limited my summary to individual taxpayers.<br /><br /><br /><ul><li>Working Tax Benefit - A 20% refundable tax on income over $3000 to a maximum credit of $500/individual or $1,000/family as an incentive to get into the workforce and get off welfare</li><li>New Child Tax Credit - $2000 tax credit per child under the age of 18. Amounts to a $310 tax savings per child.</li><li>RESP limit upped to $50,000 lifetime with the Federal Grant raising to $500 from $400 per year. Keeping the grant rate at 20% this means you'll need an annual contribution of $2,500 to maximize your federal grant. In addition, part-time will be eligible provided that 12 hours a month are spent on studies.</li><li>Personal credits - The 2007 basic exemption is $8,929 with an increase to the spousal credit to match the basic exemption. 2008 basic exemption will be indexed plus a $200 increase and 2009 will be indexed with a $600 increase.<br /></li><li>Increasing the age limit to 71 for RRSP and RPPs. Currently the age limit is 69 before it requires to be transferred to a RRIF to be withdrawn as an annuity.<br /></li><li>The age credit is increasing by $1000. Low to mid income level seniors will save $155 per year. In addition, pension income splitting will allow for lower taxes for seniors.<br /></li><li>Registered Disability Savings Plan - It will be based on the RESP structure where contributions are eligible for a federal grant and earnings are tax deferred. To me this one doesn't make a lot of sense. The feds are recognizing the financial hardship that many families are faced with when dealing with a disability. Most of these families don't have the savings to participate in such a program in the first place.<br /></li><li>Transit Passes - Weekly passes will be eligible for the credit</li><li>Lifetime Capital Gains Exemption - increase to $750,000. Unfortunately this does not apply for publicly listed shares. This applies to qualified small business corp. shares.</li></ul><span style="font-weight: bold;"></span><div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com3tag:blogger.com,1999:blog-17348584.post-16719216446642866062007-01-04T20:48:00.000-05:002007-01-04T21:07:23.220-05:00Talking TaxOver the holidays, I discovered a television show on <a href="http://www.robtv.com/">Report on Business TV</a> which has some pretty good tax information. Talking Tax airs twice a week on Tuesdays and Thursday mornings at 11:30am. The half hour show invites a tax expert every day to answer emails and telephone calls from the public. <br /><br />Various topics are discussed ranging from very basic to intermediate tax issues. Here are a few of the topics discussed over the past week:<br />- Automobile expenses and what documentation you need to claim them<br />- When to claim income on option writing and how options are taxed<br />- Pension splitting for seniors<br />- Various RRSP contributions questions<br />- Travel medical expense as an allowable credit<br /><br />Since the personal tax season is creeping up on us all, it might help you out if you've got a tax question. You can email them at TalkingTax@robtv.com or call them at 1-877-667-6288 or locally at 416-957-8199. You can find the archives for the past couple of weeks <a href="http://robtv.com/articles/rob.tv/312/talkingtax.html">here</a><div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-17348584.post-58085975530728103382007-01-02T08:29:00.000-05:002007-01-02T20:53:39.646-05:00To Prepay or Not to Prepay?We've started to look at entering the housing market and my husband and I are both torn on the idea of prepaying our mortgage and the size of our down payment.<br /><br />With respect to our down payment, we are definitely putting down 25% to avoid mortgage insurance. We are questioning however, whether it's better to put a larger down payment such as 30-35% down. The opportunity cost of the larger down payment are forgone returns from investing. For example, on a house price of $300,000, we could put down $100,000 and benefit from lower monthly carrying costs or put down $75,000 and invest the additional $25,000 in the markets. <br /><br />We've been pre-approved for a five year, fixed rate mortgage of 5%. From an investment standpoint, as long as we net 7.7% pre-tax, we'll have a better return on our investment with a smaller down payment. The extra down payment would leave us with monthly carrying costs of roughly $150/month, which is not a huge amount to us. Given that the S&P returned approx 15% in 2006 as well as strong historical equity returns, it seems silly to even be pondering a larger down payment. Yet, we are both debt averse, even though I consider the mortgage to be good debt. The idea of having a larger debt hanging over our heads is a bit unnerving.<br /><br />Then there is the issue of prepaying a mortgage. We have always discussed prepaying a mortgage, being keen on the the idea that if we are aggressive, we could be mortgage free in 8 to 10 years. While this is hugely appealing from an emotional standpoint, we question whether it is in fact a smart financial move given the opportunity for larger equity returns.<br /><br />The biggest risk I think most people fall into is that without prepaying the mortgage, people just aren't saving and end up spending the money. As long as we "pay ourselves" first, I see little financial benefit in prepaying a mortgage.<br /><br />We are probably at least a few months away from purchasing a home, so we have some more time to think about it. What are your thoughts?<div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com19tag:blogger.com,1999:blog-17348584.post-1185153640931735782006-12-19T20:44:00.000-05:002006-12-19T21:03:16.239-05:00Moving to E*TRADEWe've decided to switch our discount brokerage services from TD Waterhouse to E*Trade Canada mainly because of the trading fees.<br /><br />- E*Trade offers $9.99/trades for accounts with balances greater than $50,000 OR for active traders that place 30 trades per quarter. Waterhouse has a fee of $29.99/trade unless you make 30 trades per quarter or have $500,000<br /><br />- In addition the launch of the Cash Optimizer Investment account on both Cdn and US taxable accounts is highly attractive. They are currently offering 4.15% Cdn and 4.75% US.<br /><br />Our applications are currently being processed and we should have our taxable accounts up and running by the end of the year. I've decided to keep my existing TDW RRSP account until I am certain I am satisfied with E*Trade.<br /><br /><a href="http://www.canadiancapitalist.com/2006/12/18/adieu-to-rbc-direct-investing">Canadian Capitalist</a> just made the decision to go with Waterhouse over E*TRADE because of wash trades on US stocks. I was told by E*TRADE today that they will be implementing a service similar to TDW's USD wash facility in RRSPs, likely in the first quarter of 2007.<br /><br />Currently, you can hold US stocks in your RRSP at E*Trade but your funds are automatically converted to Canadian dollars. For an active trader, the converting back and forth between currencies, gets really expensive.<br /><br />If E*TRADE does make this move, I'll quickly be moving all of my accounts over to E*TRADE.<div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com5tag:blogger.com,1999:blog-17348584.post-45720623682447473742006-12-15T17:22:00.000-05:002006-12-15T17:23:58.666-05:00I'm back!I'm back after a long hiatus and am now enjoying married life. With our new marriage comes the need to re-examine our finances to ensure we meet our long term financial goals. Over the next few weeks, I'll be posting on the following topics that will help us meet our new goals:<br /><br />- Updated net worth snapshot<br />- Examination of our joint portfolio<br />- Analysis of YTD investment performance<br />- Setting new financial goals<br />- Deciding on the benefits of prepaying a mortgage<br />- Mortgage affordability and closing costs<br />- Switching to a new discount brokerage firm<br />- Setting a 2007 budget<div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-17348584.post-1161138189162050702006-10-17T22:13:00.000-04:002006-12-04T16:50:23.803-05:00Zipcar and AutoSharingEvery where I seem to go in Toronto, I’m seeing signs for <a href="http://www.zipcar.com/">Zipcar</a>, an auto-sharing plan. I was curious to see what a casual driver such as myself what pay a year to Zipcar rather than own a car.<br /><br />For an occasional driver, its $11/hour which includes gas, insurance and 150km/day. There’s a $30 application fee and if you want no minimum driving commitment there’s a $55 annual fee. Additional km are $0.25/km<br /><br />Based on my driving patterns, I estimated I use my car 4 hours a week. This would let me drive to my weekly Rec sports game, allow for grocery shopping and another errand.<br /><br />This would mean: $2,288/year plus $30 application fee plus $55 annual fee or $2,373<br /><br />In addition, I might drive out of town on average one weekend a month, which would mean $70/day(the daily cap) X 2 days = $140 X 12 = $1680, giving me 300km for the weekend.<br /><br />So on the year, I would spend $4,053 in Zipcar fees. I’d also have the ability to sublet my parking space which is included in my rent, giving me a savings of $80/month or $960 on the year. This leaves a one year net cost of $3,093 to use a Zipcar<br /><br />Let’s compare that to my current car expenses:<br /><br />Car Insurance $1200 annually plus car maintenance & gas of $75/month(actual run-rate) gives me a cost of $2,100 per year.<br /><br />Also, my car cost approximately $25,000 brand new, let’s say it lasts me 10 years= $2,500/year<br /><br />Actual net car costs on the year are therefore: $4,600<br /><br />From this it looks like the Zipcar would save me $1500/year. My car is fully paid for and although I could probably sell it for $8,000, I don’t think I’m entirely convinced on switching to Zipcars. I think my car still has 5 years left on its life, so if I were to sell I’d get about $1600/year - the entire savings from using the Zipcar at $1500/year. For now I’ll stick with my existing car, but I think it’s could be a wise choice for those that currently don’t own a car and are casual drivers.<br /><br /><a href="http://www.autoshare.com/rates.html">Autoshare</a> is another service provider. The simple plan is $9.50/hour plus a $25 annual fee. But the upfront costs seem a little steep. There's a $25 application fee, a $100 joining fee plus a $250 deposit. Presumably if you really like the service, the $250 is a sunk cost.<br /><br />Has anyone used either of these services? I'm curious whether users are content with the companies.<div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com10tag:blogger.com,1999:blog-17348584.post-1161137407049884732006-10-17T21:54:00.000-04:002006-11-18T16:38:56.913-05:00Keeping my Grocery Bill LowSo what exactly am I eating? Some of you had made comments about Kraft Dinner and surviving off crackers and water. While I do enjoy the occasional box of Kraft Dinner, I eat at most 2 boxes a month. Also, I eat it because I like it not because it’s cheap. I will fully admit, I definitely don’t eat the most well balanced diet, but I think I do reasonably well.<br /><br />Some highlights<br />- Water – I buy 18.9L jugs of water from a local water store at a price of $3.50 per jug. It usually lasts me on average 3 weeks. The same jug at Dominion costs $10 and if you buy individual water bottles the cost is far greater. I was given a water cooler as a gift about 3 years ago and it has really made a difference. I rarely buy bottled water and instead use a Nalgene bottle for travelling/at the gym or other sports activities<br />- I don't eat meat. While I do eat fish and eggs and other dairy, the price of a block of tofu at $3.29(which generally gives me at least 4 servings) is a lot cheaper than buying chicken, steak or other meat products. Some would argue that produce can be quite expensive but if I stick to in season produce, my costs are generally reasonable.<br />- I make bulk purchases at Price Choppers and No Frills. I rarely shop at more expensive stores such as Loblaws and due to proximity I often make smaller purchases at Dominion. Unfortunately I do not live close to a Price Choppers or No Frills, otherwise these would be the only stores I were to visit regularly.<br />- Friday nights I generally eat out with friends. As I’ve disclosed in the past, I consider these costs to be entertainment costs<br />- Normally one day on the weekend, I’ll visit my family or inlaws for a family meal. I’ve learned not to eat breakfast from past experience since the amount of food that is put on my plate is absolutely insane. I always take home at least one plate of food as leftovers and I generally don’t need another meal for the day. This is a great way to save on some expenses and also win some points with family members.<br />- This month, I had some friends over for dinner which added to my grocery bill. I served them a spring mix salad, veggie and regular hamburgers and Peach Melba as dessert with a side of ice cream. Liquor costs are not included in groceries but rather included in entertainment costs.<br />- I generally hit the discounted produce area in the more expensive grocery stores for some items. I started doing this a few months ago when I was shopping for eggplant to make a stirfry. The only eggplant they had was in the clearance section. For non-premium produce, I was able to get 2 eggplants for $1 and 4 small zucchinis for $2! (They were a little seedy). They also have bruised apples/oranges which I steer clear of although they could be great for baking.<br />- I have a vegetable garden on my balcony which provides me with green beans, snow peas, tomatoes and peppers throughout the summer months. The initial cost of this was probably quite high. I’ve had it for about 4 years and probably spent close to $50 buying soil, pots and seeds. I didn’t have any costs this year associated with the garden since I’ve had leftover seeds from the last year.<br /><br />Some typical meals that I’ve eaten this month with the estimated cost<br /><br />Breakfast<br />- No name Cheerios with milk or Bagel with Butter; Estimated Value = $0.50<br />- Tetley Tea – $0.034 a cup (I buy when on sale)<br /><br />Lunch<br />- Pita Pizza(pita, cheese, mushrooms, green peppers, tomatoes, pineapple) - $3<br />- Soup and Salad - $3<br />- Kraft Dinner - $0.50<br />- Pasta with Tomato Sauce and Veggies - $1.50<br />- Tofu Nuggets with Salad - $2<br />- Eggs/Omelettes with Hashbrowns - $2<br />- Family Leftovers – free :)<br />- Veggie Burger - $3<br />- Yogurt – generally every day - $0.40<br />- Fruit – one piece generally every day - $0.50<br /><br />Dinner<br /><br />- Probably my worst meal on the day. Friday night I eat out, one weekend night I’m at a family members. 2 nights a week I play rec sports and usually don’t have time to eat before the game. After the game, I generally resort to a snack such as toast with peanut butter, frozen pizzas or a piece of fruit or some cheese and crackers. <br />- Meals I’ve had this past month are:<br /><br />Tuna Casserole(can of tuna, 2 cups pasta, mushroom soup mix, frozen peas, 1 cup shredded cheese) - $5 for 4 servings<br />Falafel with couscous and side of veggies - $5 for 4 servings<br />Veggie Chili(ground tofu, kidney beans, chili mix and can of tomatoes) - $8 for 6 servings<br />Veggie Stirfry with block tofu, green beans, , mushrooms served with potatoes and yams - $6 for 4 servings<br />Frozen Pizza – Equality brand - $1.27<br />Cheese and Crackers - $4 (an expensive item contrary to most people’s belief)<br /><br />Drinks<br /><br />I buy milk in bags and generally buy Skim Fine Filtered milk at a cost of $4.49. It’s a bit more expensive than regular bagged milk but it has a much longer expiration date and 3 bags lasts me 3 weeks. I should drink a lot more milk than I do but mostly I put milk on my cereal for breakfast.<br /><br />Juices or Punch– I always buy frozen juice/drinks from concentrate no name for about 0.60 a can unless a really good sale is on. While I’d love to buy Tropicana orange juice, the cost is outrageous compared to a can of concentrate orange juice which can range from $0.99 to $1.39. If for some reason, I can’t find juice on sale, I don’t buy it that week. The exception is V8 which I buy on occasion. I generally can’t stand the taste but it’s a good source of veggies/fruit.<br /><br />Sodas – I used to buy a case of month but I stopped. It’s now too pricey for me to justify buying on a regular basis, not to mention unhealthy.<br /><br />Below is a summary of my last 2 grocery bills which I started tracking early in the month when readers expressed an interest. It doesn’t reconcile in total my September grocery bill because I didn’t save all my receipts. I think it is a good representation of my eating habits.<br /><br /> <table str="" style="border-collapse: collapse; width: 329pt;" border="0" cellpadding="0" cellspacing="0" width="439"><col style="width: 146pt;" width="195"> <col style="width: 48pt;" span="2" width="64"> <col style="width: 87pt;" width="116"> <tbody><tr style="height: 12.75pt;" height="17"> <td class="xl24" style="height: 12.75pt; width: 146pt;" height="17" width="195">Grocery Item</td> <td class="xl25" style="width: 48pt;" width="64">Cost</td> <td class="xl25" style="width: 48pt;" width="64">Servings</td> <td class="xl26" style="width: 87pt;" width="116">Venue</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt;" str="Frozen Drinks " height="17">Frozen Drinks </td> <td class="xl28" num="00.57">0.57</td> <td class="xl28" num="">8</td> <td class="xl27">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">No Name Cheerios - double bag</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">5.29</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">4 weeks</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Primo Pasta</td> <td class="xl28" num="00.97" style="padding-bottom: 0cm; padding-top: 0.75pt;">0.97</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">8</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Kraft Dinner</td> <td class="xl28" num="00.97" style="padding-bottom: 0cm; padding-top: 0.75pt;">0.97</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">2</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Hashbrowns</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">1.17</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">8</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Orange Juice - Frozen</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">1.37</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">8</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Hamburger Buns</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">1.89</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">8</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Crackers</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">3.94</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">12</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Pancake Mix</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">2.17</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">10</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Tuna</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">2.47</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">2</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Mushroom Soup</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">1.23</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">2</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Bagels</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">2.69</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">6</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Butter</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">2.77</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">4 weeks</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">V8 Juice</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">3.27</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">6</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Cheese - 560 grams</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">5.99</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">10</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Yoplait Yogurt</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">6.47</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">16</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Frozen Pizza</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">6.97</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">2</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Mushrooms</td> <td class="xl28" num="00.88" style="padding-bottom: 0cm; padding-top: 0.75pt;">0.88</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">6</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Fresh Cranberries</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">1.47</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">4</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Potatoes</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">1.28</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">4</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Yams</td> <td class="xl28" num="00.97" style="padding-bottom: 0cm; padding-top: 0.75pt;">0.97</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">4</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Onions</td> <td class="xl28" num="00.45" style="padding-bottom: 0cm; padding-top: 0.75pt;">0.45</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">3</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Oranges</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">1.5</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">3</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Apples</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">1.75</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">5</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Trail Mix</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">2.99</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">6</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Tomato Soup</td> <td class="xl28" num="00.57" style="padding-bottom: 0cm; padding-top: 0.75pt;">0.57</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">2</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Price Choppers</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Kidney Beans</td> <td class="xl28" num="00.99" style="padding-bottom: 0cm; padding-top: 0.75pt;">0.99</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">3</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Dominion</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Kidney Beans</td> <td class="xl28" num="00.99" style="padding-bottom: 0cm; padding-top: 0.75pt;">0.99</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">3</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Dominion</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">1 lb Ground Tofu</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">3.99</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">6</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Dominion</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Chili Mix</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">1.49</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">6</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Dominion</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">1 lb Ground Tofu</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">3.99</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">6</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Dominion</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Baby Carrots</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">1.69</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">8</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Dominion</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Can of Tomatoes</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">1.29</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">6</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Dominion</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Mushrooms</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">2.49</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">6</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Dominion</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Bagels</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">1.99</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">5</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Dominion</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Frozen Veggie Pizza</td> <td class="xl29" num="1.27" style="padding-bottom: 0cm; padding-top: 0.75pt;">$1.27 </td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">1</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Dominion</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Omega 3 Eggs</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">3.29</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">6</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Dominion</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Skim Milk Natrel Fine Filtered</td> <td class="xl29" num="4.49" style="padding-bottom: 0cm; padding-top: 0.75pt;">$4.49 </td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">3 weeks</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Dominion</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt; padding-bottom: 0cm; padding-top: 0.75pt;" height="17">Multi Grain Bread</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">2.49</td> <td class="xl28" num="" style="padding-bottom: 0cm; padding-top: 0.75pt;">6</td> <td class="xl27" style="padding-bottom: 0cm; padding-top: 0.75pt;">Dominion</td> </tr> </tbody></table><div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com4tag:blogger.com,1999:blog-17348584.post-1161125563559298592006-10-17T18:37:00.000-04:002006-10-17T21:54:30.130-04:00September Net Worth & Savings Update<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://photos1.blogger.com/blogger/4564/1670/1600/sep-2006-net-worth.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer;" src="http://photos1.blogger.com/blogger/4564/1670/320/sep-2006-net-worth.jpg" alt="" border="0" /></a><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://photos1.blogger.com/blogger/4564/1670/1600/sep-2006-savings-rate.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer;" src="http://photos1.blogger.com/blogger/4564/1670/320/sep-2006-savings-rate.jpg" alt="" border="0" /></a><br />First off - Sorry I've so late with my posting and responding to comments. For the next 6 weeks, things aren't going to get much better but I'll do my best to get back up to date.<br /><br />September was not a good month for me as I acheived a savings rate of only 36% on the month. High entertainment costs mainly due to upfront sports registration fees and a lot of going out with friends led to entertainment expenses of $750!<br /><br />Luckily I had a good month with investment returns adding $1100 to my net worth. These are all paper profits.<br /><br />My income includes $500 of poker profits which I cashed out of my online sites. These are all realized profits which will not be put into back into the poker sites. I have an additional $700 on poker sites which is excluded from my net worth.<br /><br />I opted to invest 7K into a TD money market fund for the short term fund which is yielding 3.6% . I was sitting on this cash in my self-directed RRSP and therefore couldn't use my PC financial account for these funds(since withdrawing them would trigger an income inclusion). Also, I wanted to steer away from any other external mutual funds that have redemption fees attached to them. While the rate is pretty poor it's better than the low interest that I was earning in my discount brokerage account.<br /><br />Over the next month or so, I'll be changing this monthly post to more of an expanded Net Worth report. I will still disclose my savings rate, but as my expenses are pretty constant from month to month<br />, I feel that there will be more relevant and interesting information disclosed from a Net Worth perspective. I'll also at some point be consolidating results with my very soon husband to be. This will probably take me a few months to get our financial positions fully integrated.<div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-17348584.post-1158169696294919912006-09-13T13:18:00.000-04:002006-10-13T22:49:50.606-04:00August Savings and Net Worth Update<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://photos1.blogger.com/blogger/4564/1670/1600/August2006update.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer;" src="http://photos1.blogger.com/blogger/4564/1670/320/August2006update.jpg" alt="" border="0" /></a>It was a strong month for me both <a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://photos1.blogger.com/blogger/4564/1670/1600/NetWorthAugust2006.0.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer;" src="http://photos1.blogger.com/blogger/4564/1670/320/NetWorthAugust2006.0.jpg" alt="" border="0" /></a>from a savings standpoint and net worth position. I had monthly savings of $2,890 on the month and a net worth increase of $3,484. I also reached my goal of saving $25,000 in one year in just 11 months.<br /><br />There is nothing large to report on the expense side of things. On the income side, I prepared a few tax returns for individuals adding $200 to my income. I'm also now averaging $150 per month in dividend and interest income. This continues to grow as my savings and net worth increase.<br /><br />As mentioned in my last savings update, I had sold some underperforming mutual funds and had yet to reinvest these funds. I bought a position in Proctor and Gamble. I'm still looking to invest another $7,500 but have yet to decide where to invest this.<br /><br />I must admit when I started this blog 11 months ago I really did not think I'd be able to save $25,000 in one year, but once I got started and changed a few bad habits it became easier and easier.<br /><br />My key success factors were:<br />- Limit dining out. I now on average eat out once a week. A year ago, I was probably going out 2-3 nights a week for dinner/drinks with friends.<br />- Reduce existing monthly bills. For me this included calling the cable company and getting a reduced price, using Skype for internet long distance and shopping around for insurance rates. While it doesn't add up to a huge amount, I save on average an extra $40/month based on changes I made here<br />- Using PC financial reduced my bank fees and gives me a sizeable amount of interest each month. The more I save, the more money I make whether it's interest or dividends from investing in stocks.<br />- Blogging my progress. After I started this blog I became much more conscious of my spending and saving because I felt accountable for my results. Each month when I was getting close to my maximum spending levels, I'd tighten my discretionary spending in an effort to meet my goals. Knowing that I was reporting to readers on a monthly basis gave me the discipline to not overspend.<div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com4tag:blogger.com,1999:blog-17348584.post-1154906300740621762006-08-06T18:47:00.000-04:002006-09-05T08:46:28.383-04:00Credit Card ComparisonsI've had a number of comments a few posts back on credit cards and the different rewards that they offer. I decided analyze what I think are some of the more commonly used credit cards. While I've analyzed 18 different cards, I am sure this does not cover all of my readers' cards. While your individual card may not be covered below, I believe that the message will be the same. You must spent a lot of money for these cards to be worthwhile.<br /><br />I've based the analysis on my average monthly credit card bill spending of $700. For each card analyzed I have also indicated a break even spending level. If we take TD's Gold Travel Visa as an example, an individual would need to spend $8,000 just to cover the cost of the annual fee.<br /><br /><span style="font-weight: bold;">There are a number of limitations with the analysis.</span><br />- I've excluded interest rates on the cards, since I pay my bill every month<br />- The analysis excludes differences in the cards such as insurance coverage, flight change options, upgrade options, waived banking fees associated, free auto clubs with a particular card etc. While these may be very valuable to a frequent flyer, I feel that for the average consumer they are useless.<br />- The analysis ignores booking limitations such as must have a Saturday stayover or must be booked 14 days in advance<br />- Since many of the cards use a point system, I determined an implied rate using Air Canada flight prices published on their website. I took 2 September flights: Toronto to Vancouver($539.90) and Toronto to London, UK($969.21) as my base fare price and used these prices to calculate an average implied rate.<br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://photos1.blogger.com/blogger/4564/1670/1600/Credit-card-analysis.1.jpg"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer;" src="http://photos1.blogger.com/blogger/4564/1670/400/Credit-card-analysis.0.jpg" alt="" border="0" /></a><br /><br />How do your cards rate? My vote would be for the PC Financial Mastercard or the CIBC Dividend Card. While one reader pointed out that Loblaws is expensive and therefore the rewards for the PC card may have a lower value, No Frills is a cost-effective grocery store where points can be redeemed. I also rank the CIBC dividend card higher than Scotia's Moneyback card because of the monthly payouts vs Scotia's annual payout. Some of the other cards do have a higher rewards rate, but I personally prefer cash/near cash(groceries) than a travel reward.<div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com13tag:blogger.com,1999:blog-17348584.post-1154571945144553342006-08-02T21:59:00.000-04:002006-08-15T23:34:18.200-04:00Monthly Savings and Net Worth UpdateI had a savings rate of 43% or $2,162 this month. I overspent across the board this month. Some large spending items included:<br />- Renewal of CAA membership of $60. In May I killed my car battery. CAA arrived within the hour when I called and I had a new battery installed in minutes. While I am sure I was overcharged for the battery by approximately $40, the alternative would have been to have 3 hours of lost work which was worth the cost to me and justified me renewing the membership.<br />- Close friends birthdays, family gifts and baby gifts cost me $150.<br />- Other night outs with friends and other entertainment costs over spending $225.<br /><br /><br />My portfolio rebounded by gaining $869 vs last month. I sold my mutual funds which I've been meaning to dump for a long time now. They have had mediocre returns with high MERs. I'm now looking for a Canadian index ETF(likely XIU which I'll buy on a market dip), and likely will get into some US defensives.<br /><br />I've changed my net worth statement to reflect only my Tangible Net Worth. As a result, I've excluded my vehicle and diamond ring as these items really have no tangible net worth to me. I'm not planning on selling either ever and my car will be driven until it has no value and is depreciating rapidly.<br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://photos1.blogger.com/blogger/4564/1670/1600/Net-Worth-July-31-2006.0.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer;" src="http://photos1.blogger.com/blogger/4564/1670/320/Net-Worth-July-31-2006.0.jpg" alt="" border="0" /></a><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://photos1.blogger.com/blogger/4564/1670/1600/July-2006-update.2.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer;" src="http://photos1.blogger.com/blogger/4564/1670/320/July-2006-update.2.jpg" alt="" border="0" /></a><div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com4tag:blogger.com,1999:blog-17348584.post-1152685140437711842006-07-12T02:08:00.000-04:002006-10-30T23:27:43.116-05:00PC Financial launch new Interest Plus savings accountI went with a friend today to a local PC Financial kiosk to have him set up with a new bank account to earn a better interest rate on his cash savings. When we got there, the sales rep informed us of a new <a href="http://www.banking.pcfinancial.ca/a/products/savingsPlusAccount.page">Interest Plus Savings Account</a>.<br /><br />The account pays 4% interest as long as there is a balance of $1000 or higher. If the balance falls below $1000, the interest earned is 1%. It has the same no fee structure and like the <span class="toFixedCase">Interest First savings account, an individual has access to the funds at any time after one business day. A new nationwide marketing campaign is being launched July 15th to promot the new account<br /><br />I immediately opened an account and transferred my cash from my existing Interest First savings account. I was just about to send in a cheque to Altamira to take advantage of the High Interest Cash Performer earning 3.75%. From what I can see the new Interest Plus Savings account has the best interest rate offered on any Canadian bank accounts and also beats 1 year GIC rates.<br /><br /><br /></span><div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com20tag:blogger.com,1999:blog-17348584.post-1151772141658330082006-07-01T11:57:00.000-04:002006-07-01T12:42:21.733-04:00Second Quarter in Review3 months since my last post. Not exactly what I envisioned but I've been pretty busy. Despite the end of personal tax season, I have been extremely busy at work working on corporate year ends and in my spare time I've been wedding planning and enjoying the summer.<br /><br /><span style="font-weight: bold;">Here's what I've been up to over the past 3 months</span><br />- A savings rate of 43%, excluding wedding expenses a savings rate of 53%<br /><br />- My investments have lost 5.5% or $2,400 since March 31st. This actually had been closer to 10%, but thanks to the late week rally after Bernanke's 25bps rate increase, I recovered some of the losses.<br /><br />- I've got $20,000 in cash, earning 3.1%. I'm looking into improving this by considering the Altamira Cash Performer which Canadian Capitalist talked about this <a href="http://www.canadiancapitalist.com/2006/06/27/rob-carricks-tip">week.</a> I won't be using my brokerage account but rather will invest directly with Altamira by linking to my chequing account, so I am not concerned about the redemption fees. I am also considering the GIC ladders but for my very short-term time frame I don't think it will be worth the hassle.<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://photos1.blogger.com/blogger/4564/1670/1600/2nd-quarter-2006.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer;" src="http://photos1.blogger.com/blogger/4564/1670/320/2nd-quarter-2006.jpg" alt="" border="0" /></a><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://photos1.blogger.com/blogger/4564/1670/1600/Net-Worth-June-30-2006.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer;" src="http://photos1.blogger.com/blogger/4564/1670/320/Net-Worth-June-30-2006.jpg" alt="" border="0" /></a><div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-17348584.post-1146609774095754142006-05-02T17:51:00.000-04:002006-05-02T18:42:54.176-04:00Federal Budget 2006The federal budget was announced today and since the personal tax season has just wrapped up, I thought I'd give a highlight of some of the bigger items announced concerning personal taxes. It will be interesting to see this budget actually passes.<br /><br />- GST was cut was cut by 1%. I spend on average $2300 a month. This includes gst-exempt items such as rent and insurance. After removing these items, my expenses run about $900 a month. So on the year, I'll save at most $108. Clearly nothing to get excited about. For the rich that spend about $40,000 on taxable items, they'll save $400. <br /><br />- Rise in basic federal income tax rate from 15% to 15.5%. Additional taxes for me to pay $375 :(<br /><br />- The new Canadian employment credit. $250 @ 15.5% = a whopping $38.75 savings for employees this year.<br /><br />- Basic tax exemption an average of <span class="body">$8,839 on the year. Up from 2005 at $8,648 but a reversal of the Liberals exemption of $9,039. This means I'll save about $30 from 2005 but it's costing me $60 from the Liberals plan<br /><br />Other items not affecting me personally but interesting developments:<br /><br />- Pension income credit increased by $1000 to $2000. I'm quite happy to see this for the elderly, tranlating into a $155 savings/year. Given that I see a lot of elderly managing on only OAS and CPP this is a big savings for them.<br /><br />- $1200 child care benefit to children under the age of six, taxable to the lower spouse income if you make more than $10,000 a year.<br /><br />- New 15.5% tax credit on annual or monthly transit passes. It will be interesting to see how this will work. I'm assuming it will be another attachment to the tax return such as donation receipts or medical receipts which will inevitably make my life a little more miserable next tax season but good news for transit users especially here in Toronto. I hope it encourages more transit use and puts the 905-ers on the GO Trains, make a modest impact on our clogged streets and highways.<br /><br />- Kids fitness programs will get a tax credit of $500. I find this one interesting because over the past couple of years, I've seen more and more accountants put hockey costs as a child care expense on tax returns. The argument used is that it's the equivalent to after-school day care which is deductible. Interestingly enough, for those that have been audited, 60% of the time the hockey costs have been allowed. The income tax act clearly has stated that they are not eligible, but the auditors have been lenient in the past couple of years. <br /><br />- Students will now get a $500 credit for textbooks and this is a big one: A</span><span class="body">ll scholarship, fellowship and bursary money will now be income-tax exempt, compared to the current exemption limit of $3,000 a year! This will have a huge effect on PHD students that have their primary source of income in the form of scholarship and fellowships. While their tuition costs mostly will wipe out most of the taxes owing, the big benefit is that without this income being taxable is that the tuition can be carried forward to years when there is employment income resulting in future tax savings.<br /><br /><br /></span><span class="body"><br /><br /><br /></span><div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com4tag:blogger.com,1999:blog-17348584.post-1144366646155190722006-04-06T19:09:00.000-04:002006-04-06T19:41:55.670-04:001st Quarter 2006 Report CardMy portfolio had a return of $1,039 in the first quarter of 2006 or an annualized return of 7.48%. This is a combination of price appreciation of $811 and dividends of $227.<br /><br />Holdings in natural gas dropped nearly $500 this quarter. It still has a good dividend yield 3.7% and the drop in market value is largely a reversal of prior period gains. I continue to reinvest the dividends and I am sitting on a sizeable capital gain since I bought the stock. I believe it is still a good long term hold but will monitor it closely.<br /><br />My telecom holding remains largely unchanged, however a record dividend has been announced and I will receive the annual distribution in Q2. The dividend yield of 4.75% was the primary reason I originally purchased the stock. The stock is sitting at a loss but the dividend will bring it back up to it's original cost base(essentially I'll have a 0% return on the year for this one)<br /><br />The real estate trust unit continues to perform well. I receive one additional unit per month from reinvesting distributions and while I had expected the price to remain stable since I bought it, the trust has also had some decent price appreciation.<br /><br />I have a high allocation to cash and equivalents which is sacrificing my overall return. Unfortunately this is a necessity to meet some liquidity needs over the next year. I will continue to keep it invested in a 3% interest savings account.<br /><br />I'm looking to make a small investment($3,000) into international equity. In most of the funds I've seen so far, Japan seems to have a heavier weight than I would like. I'd specifically like to find a ETF or index fund investing a high percentage in China.<br /><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://photos1.blogger.com/blogger/4564/1670/1600/Q1-2006-REPORT-CARD.jpg"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer;" src="http://photos1.blogger.com/blogger/4564/1670/320/Q1-2006-REPORT-CARD.jpg" alt="" border="0" /></a><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://photos1.blogger.com/blogger/4564/1670/1600/q1-2006-report-card.jpg"><br /></a><div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-17348584.post-1143995159580303682006-04-02T11:59:00.000-04:002006-04-02T12:25:59.596-04:00March Update<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://photos1.blogger.com/blogger/4564/1670/1600/March2006update.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer;" src="http://photos1.blogger.com/blogger/4564/1670/320/March2006update.jpg" alt="" border="0" /></a>It has been a long time since my last post. I've been working far too much lately and with what little spare time I've had left I've spent it shopping for a wedding venue. With such little spare time, I was scared to look at my budget this month and how things ended up. The less time I have, the more I indulge in convenience purchases. Luckily my tax refund came through just before the month closed to offset some of my overspending.<br /><br />Entertainment includes a $280 gift for my mother's upcoming birthday. This is a group gift and I'll be reimbursed $185 of this which leaves me at overspending of $345 which is still really bad compared to prior months. I looked back through the category using MS Money which was quite helfpul. It's my first full month of using MS Money and it made reporting on my monthly results very easy. Money revealed that I went out for dinner with friends quite a bit this month which is the main contributor to the overage. Groceries were lower as a result, but it's a clear indication that eating out will kill my budget pretty quickly.<br /><br />On a positive note, this month was my first month of a reduce cable bill which saved me $43. The credit applied to my account included 1.7 months of service. A normal month should total $150 which includes cable, internet and my phone bill. I recently bought a new cellphone which I haven't yet sent in the rebate, so next month this cost will increase.<br /><br />April is going to be a challenging month for me. Next week, we're putting a deposit on a hall for the wedding. I'll have a little bit of extra income from doing extra tax returns on the side and will submit a mileage claim at work, but this will not entirely offset the cost. I think I'll go grocery shopping now and stock up on frozen convenience foods. While these will cost more than fresh groceries, they are still far cheaper than eating out.<div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-17348584.post-1141738602140793022006-03-07T08:21:00.000-05:002006-03-07T08:36:42.180-05:00More Tax Software ReviewsThere is an interesting article by Rob Carrick at the <a href="http://www.theglobeandmail.com/servlet/story/RTGAM.20060302.gtcarrick02/BNStory/Technology,einsider/home">Globe and Mail</a> discussing some additional tax software programs that are available.<br /><br />It discusses that the number of returns filed via Netfile has increased 14.3% in 2004, to a total of 3.5 million the number of returns and a 50% increase from 2001.<br /><br />Not surprisingly, it highlights QuickTax, TaxWiz and Ufile as one of the 3 products to buy.<br /><br />It does however list some newer cheaper programs such as<br /><br />- <a href="http://studiotax.com">Studiotax</a>(Free! Financial donation suggested)<br />- <a href="http://mytaxexpress.com">myTaxExpress</a> at $6.08,<br />- <a href="http://cutetax.ca">CuteTax</a> at $8.98<br />- My personal favourite <a href="http://taxfreeway.ca">TaxFreeway</a> at $9.95,<br />- <a href="http://T1filer.ca">T1Filer</a> at $8.99<br />- <a href="http://eachtax.com">EachTax</a> at $5.99.<br />- <a href="http://genutax.ca">GenuTax</a> $34.99 BUT free updates every year after<br /><br />Awhile ago, a reader inquired about a Mac version. The article suggests <a href="http://taxtron.ca">TaxTron</a> which is $12.99<br /><br />While I haven't tried any of the above programs other than TaxFreeway, they are all Netfile certified by CRA which means that they should produce accurate returns. As the article indicates, the probably are not as "slick" as QuickTax but I think they are worth a shot. Most programs allow you to download for free and try them out. Purchase is only required for printing or Netfile purposes.<div class="blogger-post-footer">A frugal spender seeks to find new ways to save money and increase her net worth.</div>Unknownnoreply@blogger.com4