Thursday, 20 April 2017

Ideas to pay off the mortgage faster

Dear Visitor, 
thanks for dropping by.
My mortgage is less than $100,000 from last year onwards. I was thinking of ways to pay it off faster. 
Turns out, there are few methods to think about.

First of all I asked my lender to make it bi-weekly. That was done couple of years before. Now, this month I asked them to increase my bi-weekly payments by 10%. (I believe you can make it up to 15% . Just ask your lender.)
I have an option to pay a lump sum of up to 15%  of the original mortgage amount. This payment will go directly towards the principal. The minimum amount of this annual lump sum is $100.

The next one is the option to double up your regular payment of principal and interest once a year. 

I used the lump sum payment  option  in 2015. Since 2016 was hard on us, we didn't do that.  This year I am going to do at least $100 towards the principal. 

Do you have any other ideas to pay off mortgage faster? Please share your mortgage stories with me.




Thursday, 13 April 2017

Upcycling An Old Sweatpant

Dear Visitor,
Thanks for dropping by.

The winter is finally over. Time to put away some winter clothes, right? 
the 100% polyester sweatpants was in my daughters pile to discard. I was thinking of using it for something. Finally, got an idea.
Actually there are two sudden ideas.


The pants was about to be thrown out. But, I was going to clean the flours first. There is my swiffer sweeper, with disposable dry wipes. I read it before about using fleece instead of the disposable dry wipes. 
I cut the end of the pants to make like a sock for the Swiffer sweeper. Not really working. 
So I opened it up to a rectangle. Now see the new re-usable swiffer wipe
There is this leg cuff part, I cut from the pants.
Lovely, right? I was thinking of making a cuff of sorts. Then cut the edge out. It was a doubled piece!!!
Opened it up to see how long it is. 
Suddenly, I got the idea to make a cozy for my oil bottle in the kitchen. The round glass bottle is always having oil on the outside. 
Now there is something to cover it. I want to see how long it will stay. The bottom is just tucked under the bottle. I didn't bother to sew. But, it is not wobbling the bottle.
Rest of the pants are going get cut into rectangles to be used as flour mops on Swiffer sweeper. I tried it already. It collects all the dust and hair. 
Want to make wet mops? don't worry, spray some soap water on the cloth, and it is good to go.

Have you ever up-cycled clothes? Recycled sweatpants especially? 

Friday, 7 April 2017

A DIY pedicure

Dear Visitor,
Thanks for dropping by.
Toronto seems to be under never ending winter.
What to do to tame the winter inertia? I thought a pedicure to myself will be great.

I didn't want to ruin my unexpected off day by going out to the saloon and spending money. After all, it is still cold and windy.
With a little thinking, and searching, I found the necessary things at home for pedicure.

A plastic basin, some sea salt, and a scrubber for foot: all I had at home.
Pour some hot water to the basin. Added a handful of sea salt. I put a bit of my shampoo also. 
Then soak the feet for about 30 minutes and was watching TV. Used the scrubber to scrub the feet to remove the hardened skin. Then used a towel to wipe off. Applied some lotion to the feet. I cut the nails, filed them. Then put some nail polish.
This will do for the cold weather. For today I have my happy feet and no extra spending.
Have you tried DIY pedicure? Do you have any other tips to share with me?


Thursday, 6 April 2017

Minimalism for Financial Independence

Dear Visitor,
Thanks for dropping by.
I mentioned that I like the idea of minimalism.
Some people can stick to the minimalistic way of life. Minimalism is living with what you really need and not having more stuff. In that way I like it.

But, think of the stuff we accumulate: like yoghurt containers, empty jam and mayonnaise bottles... sure, they make clutter. But, I have to have a few. Collected so many similar bottles over the years to arrange my pantry. I have 2-3 empty yoghurt containers to keep food in the freezer or fridge. I don't accumulate more than that now a days. Same goes with the empty bottles. There will be few of them, as they are useful to keep bulk non perishable food items such as rice, lentils and flours.

How you reach financial independence with minimalism is your question, right?

I don't buy stuff when I see them in the store now. For example, a nice handbag on sale was big temptation before. Now, I think, do I really need it? What am I going to do with the bags I love and already at home after buying a new one? Now, see, the impulse starting to fade. Money stays in my purse.

I used to accumulate magazines. I put the old magazines in the recycle bin and don't buy new ones. Library has a lot of magazines, and they are available online too. No need to waste the valuable real estate at home to store them. I had many boxes to keep the old magazines. Now most of them are gone. The boxes are free to keep the winter gears. Some of the boxes are going to be donated too.

I still have to go through my processions. I am pretty sure, there are many items to be repurposed and donated. 

When you reduce buying more stuff, of course, you will be spending less money. That is the money you can save for  creating an emergency fund. 

When there is more free space, it is easy to clean. One may not need a bigger house if there is less stuff to keep. That means less use of electricity and less property tax. That is the money you  can save and invest. 

Do you think of filling up the space in your home or you want to have empty space? What you think of having less stuff at home?






Sunday, 2 April 2017

March 2017 passive income

Dear visitor,
Thanks for dropping by. 
Welcome to April and better weather, Time to check on March passive income too.
Checked family RRSPs and TFSAs. It has passed the limit of $100.  The goal is to have $200. Now, we made almost there. $199.36 total. 
That is looking good. Because, March 2016 was only $18. It is a great achievement on my part. Don't you agree?  
That kind of achievement makes me to save more and to reduce spending on unnecessary things. The life is more happy. Less things around the house makes me feel more relaxed. 
I hope, one day, my passive income will be enough to make me have a happy life.
So, tell me how buying whatever you really needs make you feel? Happy or deprived?

Thursday, 30 March 2017

Home made laundry detergent powder


This was posted one year before.

It seems like I am getting views for this blog. That is a pleasant surprise!
Since I don't receive any comments, I was not looking on the statistics.  Thank you to my anonymous  readers. 
I was trying to make laundry detergent powder  and was talking about it here.
Since the ingredients were hard to get, I almost gave up the laundry detergent project.

It is funny, when you keep on looking, things come to you. I was at Cedarbrae mall No Frills, just checking the laundry isle. To my delight, they have the Borax and So Easy super washing soda.
I had 3 bars of ivory soap from Dollarama for $1.50. The recipe called for grated soap. I was concerned to use my box grater for this project. Make Your Zone has the solution to microwave soap. It really worked. My advice is to microwave it on a big platter and to may be put more than a minute. We have to experiment to find the correct timing. Make sure you don't touch the puffy ballooned soap until it is really cool. It may take a couple of seconds. Then I used my hands to crumble it. You can put it in an old zip-lock bag and crush it too. 

I used one bar of soap, 1 cup of washing soda and 1 cup of Borax. Mixed everything together and keep in an old  plastic container. It smells like ivory soap. So a bit worried about the dried laundry going to smell like that...

Yes, I used it to wash my bed sheets today. My soap was not really powdered. So, got a few crumbs when the load is washed. So, I had to put it back and run the rinse cycle again. After that it was fine. There was no smell of ivory soap.

With the added confidence I did second load of regular clothes. This time the powder was added first, let the washer filled(mine is top loader), then added the laundry. I just let it soak for about 15 minutes and then run. Not much problems this time. I used the measuring cup from my previous laundry detergent. Probably about two spoons for a medium load. There is still a lot of the small batch  left. I didn't see any soap bubbles when doing laundry. 

One problem with washing soda is it is like a ball in the box.  The ball was not that hard, but just annoying when trying to get the powder from the box. I had to cut open the top. I am going to try keeping a small pack of rice in the box to see how it works.


Wednesday, 29 March 2017

Bills Paid

Dear Visitor,
thanks for dropping by.
March is ending and the cold weather too. It will be nice to have longer days with more sun. It will be more pleasant than the layering up.

End of the month means time to pay bills. got the credit card bill, which also include the phone bills. They will get automatically get paid from the credit card. That way, I can reduce the number of transactions on my checking account. So, making the full payment at end of the month on credit card is all I have to do. If that can be done in time, I can save the interest charges (a whopping 20%) on the total expenses. 

I made a commitment to myself to do that each month.

When it is all paid off, that is a great relief. 
So, have you paid up all your bills for the month of March?