Sunday, 21 May 2017

Sunday fun

Dear blogger,
Thanks for dropping by.
It is the Victoria day long weekend in Toronto.
Sunday turned out to be another rain day. So, I just did relaxing with a lot of sleep. 
There was nothing planned for the whole day. 
I have all purpose flour. So, after some search on the internet, settled to make a bread in the bread machine. 
I have some gardening going on. The plants are still inside. I am not trusting the weather yet. 
I have tried growing spring onions . First we bought a bunch from the grocery shop. After cutting the tops, leaving lot of stem with the roots, I placed them in soil. 
So, far I was able to cut the leaves for two times. Watering them regularly and placing in sunny spot is very important for growing them.
The planter is actually a distilled water bottle. I just cut the top off . Since the onion plant love water, I didn't put any holes in the bottom. They are still growing. 
All my dental offices use distilled water for sterilizing. So, they are freely available. I am going to recycle more of them for my gardening projects. 
What you are up to?

Sunday, 14 May 2017

Happy Mother's Day: Frugal way

Dear visitor,
Thanks for dropping by.
I spent some time with hubby: doing grocery shopping, exactly.
we went to the Foody World in Scarborough. He shops there mostly every week and I skip the trip. Saturday, I decided to tag along. It was really fun.

Since we were there early, it was not busy yet. Most workers are Asians. Some  veggies are bit cheaper than Walmart and other shops. Bananas were more expensive than Walmart though.
They have a garden section too. I bought 4 chilly plants and 4 eggplants for $3.40 including tax.

They are still not replanted to the pots. We bought two plastic container from Walmart, especially for those plants. 
The dinner on Saturday was made at home: baked potatoes, cucumber - tomato salad with pickled peppers and olives, and beef burgers (got on sale). There was some Ontario red wine to go with it.  Having home cooked good meal with family: what is more satisfying than that?
So, me the mother is happy with the good food, and plans for container gardening. 
How you celebrate mother's day? The frugal way or the expensive way? Did you bought flowers/spa treatments etc? 
Hope, you will share your stories with me. 
Have fun with your mom or with your kids.



Wednesday, 10 May 2017

Adjusted cost Base :an explanation

Dear visitor, 
Thanks for dropping by.
Last week, I was browsing through the Canadian Mustachians on Facebook and came across the term"Adjusted cost Base".
What the heck is it? I never heard of it before, and since I haven't sold any of the shares I invested, never had to use it too.
Being a DIY investor, you learn all the time. That is a lifestyle thing, I guess. 

So, what is Adjusted Cost Base, or in short ACB?

In short it is the average cost of the shares you earned. 

Ok, I will tell you what I know now.

Think that I bought 10 shares of the Royal bank, with $50 each. Now the total price of the 10 shares is $500. simple math, right?
I gave $7 for the bank to do the trade. So, my total cost of purchase is $507, right? 
So what the actual cost per share? 507/10 =$50.7, so far good, right?
aslo assume that it happened in June 2016.  
Then I decided to buy another 10 shares of Royal bank in July 2016 for the price of $55 a share. Now the total cost for that purchase is $550 plus the trading fee $7 , ie.$557. Now I have 20 shares. So what is the average cost or Adjusted cost of these shares? (Adding $507 and $557 will be $1064 and divide that by 20, (the total number of shares now I have.) It will be $53.20
Now if I am selling 5 shares for the price of $65, so what will be the adjusted cost base of this sale?
(65*5)-7 = $318/5 =$63.60. 
When I am reporting capital gains, I will be using this information.
What was  the cost of purchase of those 5 shares? I will be calculating that using my ACB. 
ie, 5shares time $53.20 =$266
My sales income = 5*$63.60= $318
Capital gain to be reported = $318-$266=$52. 
I will end up in paying capital gain tax on $52. 
Now, I am working on to make a spreadsheet to calculate ACB for all my investments. 

Wednesday, 3 May 2017

April 2017 Passive Income

Dear Visitor,
Thanks for dropping by. 
It is supposed to be spring and the weather this year is playing not to be same like previous years. May be nature is tired of being predictable. 
It is May already. time to check that passive income, right?
comparing to March , it is less. I am still happy that it is over $100. 
I was able to put money into the accounts and bought some ETF. The plan is to follow the CCP strategy(Canadian Couch Potato) for one of the retirement accounts. 

 CIBC investors edge charges $100 for RRSP accounts with less than $25,000 an annual fees of $100. So, I have to have make that a priority for both of our accounts. 

We made an awesome total of $125.09 in April 2017. Total passive income this year is $751.99. That is great compared to the income we make. So, I am pretty sure, we will be able to be financially independent one day.  
What is your reason for saving money? What is your idea of being financially independent?

Sunday, 30 April 2017

More money?

Dear Visitor,
Thanks for dropping by.
You can see that my posts are not many in April. I feel it too. Sometimes, it is due to lack of subjects.Other times, it is lack of time. 

My reason now is lack of time: I got a side hustle once a week for 2 hours. Then I got  my dental assisting jobs. Yes, jobs, with different employers. so, whenever, they need extra help, I am the one got asked to help them. Good for my personal finance. More money to invest, right?

Recently, one of my co worker got a new job with better pay and benefits. So, while the employer is on the search for a new assistant, I am asked to help. Remember, my motto is to "work when work is available". So, I was working last week. Of course, that will bring some money. But it is all the time less than $20 for an hour. I can write more blog posts and be happy. But, there will not be any money to be seen. So, comparing the options, I can work for some one, and get paid few bucks, and give few bucks to the government too. 

So, by working everyday, I am helping my employer to deliver treatments and to make money. I am also contributing more to the Canadian society by paying more tax. 

Working more also means that I have to plan ahead to avoid un necessary spending. We have to have food in the fridge so that we don't depend on take outs. The lunches and snacks should be packed so that there will be no temptations to buy from outside. The house must be reasonably clean so that it will let us rest and be happy for the next day. 

What do you think of working more hours than usual? Will you do it? Will you refuse to do that? 
Incase you have more paid work, what will you do to avoid extra spending?

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?