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Financial Friday: Calculate your meal costs

Hi friends,

Here’s a fun, quick financial exercise:

Pick a favourite meal.  Look up the cost of that meal online at your favourite restaurant, like if it’s a fettuccine dish from a psata place that cost $15.

Then, next time you’re at the grocery store, make a little list of the cost of the ingredients for the same meal and compare the costs.  There are definitely a lot of meals that cost less to make at home, and a few that are cheaper at a restaurant, Check and see which ones are worth buying and eating where 😀
Amy

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Financial Friday: Saving for a big ticket item

Hi friends,

Let’s talk about saving for a big ticket item.

Here’s my plan that I use:

– Pick an item to save to save for

– Make a savings plan: I want a $250 TV and I want to save for it in 5 months.  I’ll take $25 out per payday, $50 a month, and put it in a mayo jar in my house.

– Price shop/look up reviews for the item while I save for it

– Decide on what I’m going to buy

– Buy it at the end of my 5 month savings period

Try it!
Amy

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Financial Friday: Plan date nights in

Hi friends,

Date nights are so fun – and essential – to a good relationship.

However, they can be super expensive.  So, my challenge to you is to plan a few upcoming date nights in.  Plan a beautiful dinner, some awesome appetizers, a movie, a whole season of Netflix if you’re feeling ambitious, a Scrabble game, a fun project, or a dog walk.

Make it fun and cheap!  🙂
Amy

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Financial Friday: Try paying cash

Hi friends,

Here’s a neat project to try – take a month’s expenses from your budget, and take it out in cash however you like.  Take cash out on a weekly, bi-weekly or monthly basis, whatever works for you, and then spend it as usual.

Keep a log, whether paper or on your phone, that logs where and when you spend your cash.

See if this makes a difference in your spending habits for the month.  Worth a try to make you more conscious of your spending.

Amy

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Financial Friday: Check your internet usage

Hi friends,

I recently found out that my internet provider charges us for usage over a certain limit every month.  Our internet plan includes a certain amount per month, and when we go over, it costs a bunch of fees.  Yikes.

So, I called the provider and explored my internet plan options, and found a better plan with more usage with faster internet speed, for a slight amount more on a monthly basis. It will end up being less than my old plan fee plus monthly overage fees.

It’s worth it to carefully check out your bill, and maybe save yourself some money.  Also, woohoo for faster internet!

Amy

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Financial Friday: Track your restaurant dollars

Hi friends,

Here’s a pretty quick, but scary! mission to take the last month’s expenditures and review how much you spent on restaurants in that period.  Information is power when it comes to money and this will be a learning experience.  Log in to your bank account, and print out your last month’s transactions.  Then, just go through with a highlighter and mark each transaction that counts as a restaurant – convenience store snacks, takeout pizza, dine in restaurant meals, drive thru coffee, and so on.

Then, add it all up.  Absorb that number, and set a goal with your family to lower it.  Try and beat your total by lowering it next month.

Good luck!
Amy

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Financial Friday: Return if necessary

HI friends,

Do you have some items hanging around the house that need to be returned or exchanged?
Please make it a priority to grab your items, receipts and make a trip to take care of these items.

Sometimes, after you’ve bought an item, it no longer has much monetary value to you, as it seemed to at the store, but it still does, and you will feel better once you’ve taken care of those items.

Also, if you have items that have a warranty that you need to look into, it’s a great idea to do that now.  I bought some trees at Canadian Tire last year that died, even with my efforts.  I called up and told them about it, it turns out there was a 1 year warranty on the trees.  So, I was able to exchange my dead trees for some nice, new living ones – hooray!  If you’ve been wondering about a similar thing, make the call, I encourage you.

Amy

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