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Thursday, January 10, 2019

Saving money is easy if you really want to

The past two days had been super great for the TSX. Yesterday, my non-registered portfolio closed today session at $122 185.93, my TFSA portfolio at $57 583.20, and my RRSP portfolio, stocks only, at $38 356.74. Bank of Canada had the great idea not to increase interest rate and this all play well in my favor. Today, my non-registered portfolio closed today session at $122 521.80, my TFSA portfolio at $58 258.58 and my RRSP portfolio at $38 656.199. Its finally beginning to get better, but we still have a long way to go in order to catch up the old 16 500 points value. Its been a tough road.

So far, I had respected my budget and I actually spend less than expected, just the way I had it planned. It's not the first time in my life that I am taking this rough extra budgetted path. I did it before, and I can do it again. I guess in the past couple of years, since I had a good loaded investment portfolio, I didn't see the necessity to deprive myself of anything. And I am actually glad I did so because while I had worked with a really restricted budget in my young twenties during a couple of years. No one should have to deprive themselves for too long. Currently, I am doing it by choice, not exactly by necessity, but I would like to just have some money left in the bank in my saving account, instead of having absolutely everything pack in stocks. This is the right time to do it because I don't have myself set on a next investment idea and the stock market is not exactly a perfect heaven these days... Its for me the perfect time to pay down my margin debt.

Once you get in the money saving game and you see that using cash to pay everything begin to pay off, and that you can actually live below the expecting budget you have to fix yourself, at that point, that's heaven. I am now on my second week on a rough budget. Despite the fact that I had allow myself a little amount for coffees at work, I didn't buy any. For the month of January, my expenses will be of $1 173. I could go lower if I cancel my Crave TV subscription.

1 comment:

David said...

I work in the geriatrics department of nursing (taking care of old people mainly with dementia -- a memory loss issue) and do you know what is their number #1 complaint above lack of money? It is "regrets". That is, when they were younger they didn't have or make time to do what they like, what they desire and defer that till when they are old and retired. Well what happened to them now is that most of them went mental. They worked too hard. save so much and end up living in a nicely decorated care home, which we sometimes nicely call it, but it is really a locked down secured facility. And to put it bluntly, it feels like prison, except you're not called an inmate.

Everyone needs to take care of themselves and everyone should fulfill their personal needs. I used to work hard and save lots myself during my 30 years in the corporate world. I made a bunch and thankfully I am living off the dividends of that income now, but was never internally happy with myself. Ever since I went and discovered my second career in nursing, I found my calling. Now, I enjoy my cup of coffee, swim in the morning and work in the afternoon, or pick up shifts during the holidays and get paid double, splurge a bit during the festivities and holidays with gifts (myself and others) and currently subscribed to Amazon Prime Video, Music, basic cable and CNN plus a super fast high speed cable internet. I also managed to travel twice a year with the income I received from my nursing work, while my basic income from dividends pay all the bills and rent. Which is why I really like your blog because you showed me companies that I never knew and allowed me to get some other investment ideas in expanding my portfolio.

Enjoying life is now part of my needs to maintain a healthy mind and I need those nice perks and travel excursions. I personally don't want to end up like my patients with dementia who can't tell where their male/female organs are because they forgot where it is!
I have zero debts, so I have zero worries -- everything is paid for and let me tell you the freedom I get not having to owe anyone else money. Now, everyone owes me money. How about that?!?

Keep some perks and keep your Crave TV. A nice smart girl like yourself need to enjoy those perks. The stock market is currently experiencing the usual correction and re-direction and there will be more volatility for sure. But this is a normal 10 year up cycle we had. Just remember that during the sell-off, this is our version of the Black Friday and Boxing day where prices and deals are cheap. And unlike electronics, stocks do not go on a steep discount this often and they don't lose their value when you hold them long. Buy on good strong companies cheap and reduce that debt to zero.


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