7 Small Steps Towards My Financial Freedom & a Few Other Things

Hello there,

I thought I'd catch you up on how things are going re: my 2012 goals. The first of which is connected to my physical fitness, the second of which is related to my financial fitness.

Physical:

I've been attending my bootcamp, but it's been a little bit harder to get there 3 times per week. I guess the combo of January weather, having had a Christmas break from it, and me going out of town all conspired to keep me struggling. I have been to 4 out of a possible 9 classes - 3 in the last week. On the healthy eating front, I've been tracking all the food I eat and I've lost 2.4 lbs. I also did some researching of working for Weight Watchers (when I finally reach my goal weight). If the google search was accurate it won't be any get-rich-quick scheme, BUT, it would be a way to help me stay in a healthy range and make some pin money. I probably have to lose about 20-25 lbs to get to where I want to be in that range. It may take me a while, since I'm not into starving or eating fake foods to do it, but I am consistently moving in the right direction, and have been for a year now.

Since January 1, I've had an old friend die suddenly in his 40's of a massive heart attack, and another very young friend diagnosed with breast cancer. I keep thinking that being healthy just keeps getting more and more crucial as the years tick by.

Oh, I also decided - to help nudge myself in the right direction - that I would forsake the empty calories in that magic elixir, alcohol, until I reach my goal weight. Unseemly, right? Well, besides wanting a gold star for this Hurculean task, I do feel pretty good about how I've managed it. I even had to endure an open bar at the Keg, during the reception of my old friend's funeral, WITH all my drinking buddies from my university bar tending days. Just imagine. I enjoyed this eviscerating event stone cold sober. After this testing by fire, I think I'll be fine.

Financial:

This has been a major focus for me since January 1. I'm actively encouraging myself to become properly obsessed with it. I wrote in my last post, 'Clean Slate' about ultimately wanting to pay off debt and get down to one job. I also wrote about wanting to get really clear about my budget and spending, and to automate as many things as possible. Some things I have done thus far in January:

1. Read David Chilton's 'The Wealthy Barber Returns'. I'd recommend it, - and his first book 'The Wealthy Barber', though it is old, taught me a lot about basic concepts, like RRSPs etc.
2. Written down every nickle I've spent this month, including date and what I spent it on. I'm keeping it on a list on a 'note' on my phone. It's important to know what (and where) I'm spending in order to make a realistic and accurate budget and to grasp where I can cut expenses to live the dream of spending less than I make, AKA financial freedom.
3. Searched out budget spreadsheets and expense tracking spreadsheets. I found one that I prefer, since it has space for idealized budget, actual amount spent annually/monthly/daily, plus tracking monthly expenses and seeing the difference and charts all kinds of things. It is only about $15. I think I will order it and test it out. I'll report back and share the link if it seems as good as it looks.
4. I've signed up with mint.com - a neat site that shows you all your financial stuff in one place (i.e.: assets, loans, banking) so you can see and track expenses and net worth etc. It is read only, so you can't DO banking on it, but it is nice to be able to see info from a variety of different places together in one spot. They use the same type of security as banks do on their site.
5. I've begun the book 'Financial Serenity' and am leaving it at work to read on breaks.
6. I'm listening to Susie Orman's 'The Laws of Money' on CD at work while I do mundane tasks.
7. I'm carrying around 'To Buy or Not to Buy' by April Lane Benson to read on the transit.

A couple of weekends ago I ended up shopping on a whim. I was on my way for groceries, at a store that was in a mall, and was seduced by the January sales. I ended up getting cute slouchy cowboy boots for $60 from a store that was closing - regular $150! - and bought 4 x $9.99 items at Joe Fresh - marked down 75%! - and couldn't pass by Winners without going in to look at clearance items. I ended up getting a fuschia velvet skirt and a black velvet tank top - for less than $10 each!

The problem isn't so much the price, as the lack of control. I ended up buying things I didn't really need, in THREE different stores that day. Had to scrimp on the groceries. I could justify the Joe Fresh things by saying they were for working out. I've lost enough weight my track pants are falling off when I run or jump. Hurray. But the fuschia velvet skirt was really just a colour hook. I've used all the Joe Fresh workout gear in the past two weeks, but have yet to use my new boots or velvet garb. Soooo, I will need to a) avoid the mall, b) stop and think about need versus want before I do buy things. And make a plan to wear velvet and cowboy boots this weekend so I can asuage my guilty conscience.

I'm trying to get really specific about my spending, to live BENEATH my means (& spend less than I make), and to stop buying things I don't need. I think a new goal is that I will not buy any clothing for myself, (except something like new runners if mine wear out) until I reach my goal weight and need some new things. Also, another goal is that we will only spend $80 on food per week. This will be challenging, shopping for my wife and I with this amount, but I think it is doable. Tracking expenses, getting started on the spreadsheet, working on a budget to pay off debt and get back to saving (currently I'm only saving $150 a month for retirement) will be ongoing areas of action.

Suzie's message thus far is about truth and lies and money. She talks about how when we aren't true to our situation, it creates financial problems. i.e.: try to keep up with pals with money, have gadgets and clothes that don't reflect what we can actually afford, feel afraid to say no to invitations to do social things we can't really afford, think that if we can afford to charge it on our credit cards means we can really afford it, etc. I found it helpful; I'm thinking about how I can be more truthful about my spending (being true to my financial reality and also my goals for the future). And, in general, all this stuff is keeping me focused on my goals by constant bombardment :)

That's about it for now, so stay tuned for an update soonish.

xo Tara

Clean Slate

Hey there,

It's 2012, and world ending predictions aside, I'm trying to figure out what I want from myself this year. I found out over the past two years, that if I put my mind to a goal, even a tough one, I can really do it. I also realize that I'm the type of person who particularly enjoys turning things into 'projects'.

In 2010 I made a goal of not buying anything new for a year. And I did it. I didn't even buy so much as a pen. And it felt very good and gave me a strong sense of being able to tough something out. I also was able to be quite effective financially with paying things off and saving.

2011 was a different kind of year. I set my primary goal on my physical health and really decided to give 'er. It was quite successful. I lost 30.2 lbs in 2011 and have been regularly attending a boot camp exercise class three mornings a week at 6:30 a.m.  If you know anything about my typically Taurean sensibilities, this will shock and amaze you. It's been an ongoing effort to eat better and be more active, but well worth it in terms of how much stronger and fitter I feel. Like everyone, I'm getting older and there simply is never going to be a better time to get healthy. Also, it's something I'm just going to need to keep chipping away at forever. Like the dishes and laundry - you're never really done.

So here we are at 2012. I'm feeling fitter and stronger, but I still haven't gotten quite to my goal. And in fact, to get really specific, my goal is to reach a 'Lifetime Membership' with Weight Watchers, so I can be hired as a leader there, and phase out my second job. For those of you who have read my blog in the past, you'll know it is a long held dream of mine to 'retire' from having two jobs. My economic reality is that with 25 months left to pay on my student loan (I'm paying $1050 per month to shorten it to 25 months-was 28 months), I NEED two jobs.

I'm hoping that by getting to a goal weight & getting hired by Weight Watchers to lead groups, I can kill two birds with one stone: Stay focused on my own healthy living, AND put my facilitation skills to use while moving them to a less draining second job.

My current second job is four evenings a week for 3.5 hours working with people who have been homeless with addictions and mental illness. It is important work, but after a full day working in community mental health, lately, I find myself struggling to have the energy to do this all evening too.

What I've been working on in my spare time, leading up to and since New Year's, is quantifying my plan to make this stuff happen. Spending less money is also a part of the picture. As someone (maybe Chris Rock?) said, I don't want to be working two jobs just to be broke at the end of the month!

I also think that I'll feel MUCH differently about having two jobs when I don't NEED them both. i.e.: if I was just saving dough with the second job and had the Financial Freedom to chuck it anytime I wanted. I've conceptualized my NEED for the second job as ending when my student loan is paid off. My second job pays me approximately $1380 per month. (There are other perks like 40% of a monthly metropass and about $65 month to my RRSPs). My student loan is costing me $1050 per month. When that expense is paid in full, I should theoretically be able to survive without my second job.

But, I also think that every extra $1050 (one month's worth of student loan) I can scare up, shortens my NEED to have a second job by an extra month. I'm looking to shorten the 25 months remaining if at all possible.

Another thing I'm working on is a real budget that has me automatically transferring money on payday that accounts for all expenses that will be coming out, rather than going in and doing it manually the day of. I want to automate it and be ahead enough of the game, so that there is a tiny cushion. Wish me luck! It's still in the fantasy stage with us being 'super cash poor' right now :)

That's about all for now. Hope to be back in touch with y'all soon.

xo Tara

Bubble Girl

feeling strangely like I've been in a bubble looking at the news of riots in Clapham and Hackney where I slept my last night in London and had a lovely evening. That was Friday night and I headed up to Scotland Saturday with a full day on the train. since I've been here I've spent most of my time watching or pitching comedy shows,and am only hearing about the London riots now. ugh. It's so disturbing to see and think about this senseless violence and waste. It is so glaringly contrasting with the individual experiences I've been having with Strangers giving us lifts and drives, laughing all day long till my cheeks hurt, and buying us drinks and so on.

My sweet UK experiences include sitting on a patio bar in Edinburgh and the owner bringing us blankets. You need a stash of blankets to keep a rainy summer patio business running in Scotland. and the patios are packed full of people despite the October like weather. It's so cozy and charming!

Getting laundry advice from a fellow named Jason. I complained that I had to take my wet clothing on the road with me when I went on to location B, on my vacation, after it failed to dry after a full day hanging at my brother-in-law's place in London. Jason said 'If my clothing takes more than three days to dry, I take it to the launderette'.

Off to bed with a full head.

Xo
Tara

Sunshine on Leith

I'm delighted to be reporting in from the Edinburgh Fringe. I've come with my wife, who is a delightful stand up and we are enjoying the first rays of sun since I joined her on Saturday. the free Fringe, which she is a part of, is a fitting subject for No New For Tara. we have to pass a hat after her shows and are trying to live on the unpredictable rewards. It meams husbanding our resources, packing 'sammies', walking some places, and kind of acting like we are students. we are having a blast. Strangers are being so nice to us, and we are trying to humbly throw ourselves into the act of drumming up business for the shows and radically accepting what happens after that. so far so good. also, in the lottery of life we lucked out with our land lady who is amazing. She is cooking for us and giving us insider tips and we have friends who are not doing so hot with crowded messy venues and sweating Walls. we have the run of our place and even our own loo.

Xo
Tara

P.s. If you are in Edinburgh come out to one of the shows and I'll stnd you a pint! 5:15 at the Street or 8:50 at the Medina.

Weekend Update

Hey there,

I'm feeling rusty and out of it, from my long away time here in blog land. I can't exactly pinpoint what the reason is for me being not so able to blog frequently this year, but my gut feeling is that this years goals are kind of different from last year and take more of my time than last year's goals, and so I've been blogging less. Also, some of my goals are things I'm not sure how to blog about or necessarily fit into this blog's thematic zone. I've been getting healthier. And in service to that goal, sometimes I'm spending more on things like food and exercise stuff than I was last year. I'm also letting myself off the hook for buying pricier food things if they are healthy and easy. Because I'm putting a kind of premium on what ever helps me move in that direction. I am in my 40's now, so living off potato chips is no longer such a viable default plan nor particularly forward-thinking for me.

The other thing I've done more of is shop. Mainly for my weakness, clothing. And this is the thing, since I've lost 21 lbs (between January of this year and now), I have this wicked part of me that feels VERY keen to try on new clothing and to tell myself that I deserve new clothing!  Now, don't get too upset. I've not gone bananas, but I've bought myself 4 new dresses (some were gifts I talked others into buying me for my birthday). I also bought myself 3 sports bras. I feel completely comfortable with

In line with my NoNewForTara goals, I've also reached into my personal possession archives and managed to resurrect a bunch of clothing I hadn't fit into for a long time. Seriously gratifying. I also visited my Mom a couple of times, and as you know, she is the queen of re-gifting, and of de-cluttering her possessions unto her offspring. As such, I was able to get new hiking runners, sandals, dress pants, and of course, her signature weakness-cardigans. Most of these items Mom starts passing to me upon arrival in Ottawa to try on. They often still have the tags on them, or she has worn them a maximum of one time, but they fell short on some crucial criterion she rigorously measures all her possessions against. Lucky for me, many of her items do not pass muster, and I get to have that new car smell without the cost.

As far as my goals for 2011 go, besides the not shopping, which is less than the best, but way better than historically, I've been doing pretty well on some, and so so on others. You may recall, I did an Annual Review and rhymed a bunch of goals off in January 2011. I'll be meeting my like minded friend, Christine next weekend to do the mid-year report card on how we are measuring up to our goals. Doing a quick scan of my pretty book dedicated to this I see:
1. re: money, I am not as far ahead as I'd like, but I am still committed to semi-retirement by the end of the year (cross your fingers for me). Semi-retirement basically means giving up my part time job and only having my full time job.
2. trips: I've been to Boston, and am hoping to squeeze in both Newfoundland and Edinburgh. It will be a tight squeeze financially, but Newfoundland is home, and I really want to get to see my wife perform in the Fringe Festival in August.
3. professionally, I'm feeling good, albeit overloaded. I've taken CBT courses, and taken on new job for the year, which was a very refreshing challenge and learned many new things.
4. creative: I've done less knitting and writing, but MORE ukulele playing :)
5. personal: I've definitely gotten healthier. I've been doing out-of-character things like getting up at 7am to go work out, paying attention to what I eat, and I can actually almost hold my own in a tickle fight these days.
6. friend outreach: I've been seeing and being with a lot of old, and a few new friends this year, and for that I am so happy. But, I also realize how impossible it is to keep up with everything. I've had to say a couple of 'No's' to requests and am still working on not feeling guilty etc.

These don't sound like a lot, but I can also say this about the year, I feel really good and I feel really happy. Being more physical and active, more organized and planning does make me feel better. Someone has said (and sorry I can't remember who) that it takes just as much energy to be disorganized mess, as it does to be more on top of things. So, all this packing lunch, getting to bed on time more or less, and one legged squats are seemingly worth the bother. Like my stepmother told me, though, I also don't want to make drastic quick changes to my health that I can't sustain, so I'm trying to be pretty gradual about it all to trick my body into not noticing and doing a big rebound or something. I'm not willing to entertain any food plan that doesn't leave room for tall boys and chips.

Soooo, just thought I'd parachute in and give you an update. I still buy many things second hand, or talk people into buying them for me/giving them to me from their own closets, but my scorecard is not the 'perfect 10' it was last year. But, that just means I am reassuringly human.

Nice chatting with you again, it's been an age.

xo
Tara

p.s.: just reconnected with my old friend from grade 1 and 2, Kyran Pittman, who blogs here
p.p.s.: my wife just got uninvited to perform at an anti-homophobia event at a Catholic high school because they found out she was gay-married. Seriously.

Confessions from Boston

I'm writing from Boston where I did indeed come with my wife and two friends for the Women In Comedy Festival.  It's been great seeing her (and Deb) perform and checking out the comedy stylings from women all over the states.  I'm having an evening in at our super cheap four star hotel (Thank you Priceline!) since I've had a few late nights in a row.

I've also been slow to recover from a cold/flu thing that held me hard and fast in it's ugly grip for a week and half. Ugh.

Now, for confession time. I've been shopping.

I let my wife buy me shoes.  Nice, Merill shoes that are well-made, were on sale for 45 bucks and look super cute on me. I also let her buy me a t-shirt from the Harvard Bookstore.  My cousin Tessie took us on a tour, and who can resist Harvard Swag? We had a lovely tour of her campus. The Harvard Yard was ALMOST as great as my epic Harvard Nap yesterday.  Yesterday I met up with Tessie on my own and we spent three of my four visiting hours having a decadent afternoon nap in her newly purchased W Hotel bed in her Harvard undergrad residence, Adam's Hall.  It was the best!

But back to my confessions. I ended up buying underwear, a bathing suit cover up, and capri's with a built in skirt.  I feel okay about all the purchases because they seem justified, but a little weird because I feel like I am 'cheating'.  The underwear are good quality, cheap, and I didn't really get that many undies in January especially of the non-cotton kind.  The bathing suit cover up makes it possible to use the bathing suit in public, which sounds reasonable.

And as for the 'skapris', they are something I've basically been waiting for years for someone to invent.  My wife and I love skorts. In this embarrassing video from my blog's inception on December 31st 2009, I found a pair of capris with built in running skirt the day before my year of not shopping.  I LOVE this thing and wear it all the time, but it is a sportsy article of clothing, with a breast cancer logo on it, and not really appropriate for evening-out wear, for example.  And here I am in the United States at Macy's and low and behold they have 'skapris' (skirt capris) and I am putty in their hands.  I must have them.

So, this year, my goal of not buying new again from February onwards has been besmirched.  I guess I am less committed to it than 2010 because I don't have something to prove in the same way.  I did go a year without shopping already. It's not that I'm going bananas with shopping, but I am allowing myself to make exceptions that I did not make in 2010.  I simply did not get anything last year. This year 'if it's justified' I'm obviously more willing to let it slide. Hopefully I will manage to keep my barometer for what's justifiable reasonable, but clearly I'm having more trouble denying myself this year. Hmmm.

Saving money, not being wasteful, and becoming less cluttered are all good reasons for me to keep on trucking with the no new goal.  And like being healthy, it's probably best to think of tomorrow as a new day, rather than consider the whole of 2011 a wash after one little Boston binge.

Back in Toronto and regular life on Sunday.

Nighty Night
xo Tara

P.S.:

We are thinking about our uncle, aunt and niece, who are thankfully okay in Japan today.  Uncle Ian did post on CBC: on Citizen Byte.

So Many Money Decisions

Hiya,

It's the end of another break neck week of work and fun.  I've been working overtime on my friend and family outreach efforts and on not buying anything new.  In fact, just yesterday I finally unpacked my many, many new sock's from January's shopping blow out.  If you take long enough to unpack, it feels like a whole nother free, fresh treat - kind of like finding money in your winter coat when you haul it out of storage.

This week also held lots of lovely gatherings and groupings including but not limited to: a work debrief over pitchers of brew; an all-female stand-up comedy recital by some amazing students of my gifted wife ("Special Ops"); My book club ("Room: a Novel", read it!); meeting up with a long lost newly engaged pal for a toast; learning to 'cable' at knitting night with young lesbians in a sports bar...Pictures pending...(thank you in advance, Sera!); yummy mac & cheese and multiple, nostalgic, vintage gifts from my great aunt who is moving in 3 weeks to a condo and frantically downsizing (like wine glasses and decanter from my late Nanny's 1st year of marriage 63 years ago); volunteering; and today a date to see Sandra Shamas' latest show at Winter Garden theatre.All this on top of two jobs. Phew.

Besides this good stuff, I find out today that I might get a chance to go to Boston on March 9th to accompany my wife. She is performing in a female comedy festival there.  If I can get it off work, I can see Boston for the first time, and serendipitously arrive on the day that my youngest cousin submits her thesis to Harvard.  I've been meaning to get down there to see her and tour the city and the university and all that for almost 4 years. The countdown is on before she graduates and it's too late for me to get the real insider scoop.  So, please cross your fingers that work-one and work-two can spare me for three days at super short notice.

Last year around this time I suddenly decided to go to the Olympics - my first trip to Vancouver.  As I think about it, I ended up doing 5 trips to Newfoundland and a trip out to British Columbia last year, on top of doing all that saving and not buying stuff.  This year, I've got these hard core debt repayment goals, but now possible trips are cropping up.  Boston.  Maybe Washington.  (We have an aunt, who amazingly has moved to D.C. right on the main drag in a sweet diplomatic home with rooms to spare for visiting nieces.) Newfoundland  for family and probably my grandmother's 90th birthday. Scotland in the summer. 

All the travel possibilities have me excited, but then a bit of anxiety starts rising as I think of the cost etc.  I do think it's important to take care of business (TCB), but I also want to live and have experiences; acting as our pal Mae Martin would say, more or less, 'young and free'. I want to pay off that albatross debt AND have lots of fun travel memories to look back on when this year is at its end.  I am feeling a little bit more that I should not say 'no' to too many spontaneous opportunities. I don't want to be cheaping out on cool experiences.  Friends who suddenly became ill and now can't enjoy the retirement they saved up and sacrificed for, makes me not want to be erring too far in that direction. So, I'm making my way, two steps forward, one step back, towards both financial freedom, and a life more than half lived.

Okay, enough about me. I've got to go and get organized for the rigors of tomorrow.

xo Tara