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How I manage my money April 30, 2008

Posted by gmbmfb in : banking, sidebar totals , add a comment

I’ve had a few questions about how I manage my money, and how I’m partitioning my funds. Basically, for every sidebar listed, I have a separate savings account. I also have a chequing account, which holds anywhere from $10-$600 at any given time. That money is always fluctuating, so I don’t bother listing it on the sidebar, or in my NetworthIQ.

I like having separate accounts b/c it makes it way less confusing for me to try to partition pooled money. Plus, it’s not like it costs anything to have multiple savings accounts, so why not?! Also, I manage all of these accounts through Quicken.

I really love Quicken because I can get as detailed as I want to get with my money. I like how it will graph out my progress, remind me of upcoming bills and transactions, show me my net worth, and help me maintain my budget.

Before I used Quicken, I was tracking all of my spending through a really complicated Excel spreadsheet that I created. Once I switched to Quicken, managing my personal finance became FUN. Seriously. And it was way more motivating to see all of my money and progress listed in a real, professional program. As opposed to Excel, which is pretty ghetto compared to Quicken. Sometimes, I would just explore Quicken for hours, figuring out my debt totals, creating debt reduction strategies, playing around with a budget, and scheduling transactions. It’s awesome!

Anyway, if any of you have any more questions about how I’m managing my money, please let me know. :)


The 3-month review: conclusion April 30, 2008

Posted by gmbmfb in : miscellaneous , add a comment

So yes, I’ve decided to stay in Vancouver. And out of this whole salary review process, none of it would have happened had I not spoken up and initiated the conversation. If this had happened a year ago, I probably wouldn’t have had the guts to ask for the raise/salary review, even though I was entitled to one. Which goes to show you that you won’t get things in life if you don’t grow a pair and ask for what you want.

I worked for a local music store PT, off and on for about 5 years … and not once did I receive a performance review or a salary raise. In 5 freaking years! I made $8.50 the entire time, and sure I wanted more money … but I couldn’t bring myself to ask for a raise. In the end, it was worth it for me to make a crappy $0.50 above minimum wage just to avoid that confrontation.

But not anymore. Last summer, I decided to make a life change. Along with getting my finances in order, I wanted to be happy with my life … and a big concern was making sure I’m able to stand my ground and believe in myself. I needed to become more confident. I also wanted to always speak my mind when something was bothering me. Not just professionally, but also financially, and in my personal life. There were going to be some big changes.

And now, I notice the changes at work. I’m more assertive. If my boss is giving me too much work, or I’m frustrated with the way he’s treating me, or the way something is being handled, I’ll tell him. Not in a rude way, but things like that need to be said … otherwise I’d be miserable at work. I also think my boss appreciates my honesty.

Of course I notice the difference in terms of personal finance. I didn’t like the way I was being treated at TD Bank, so I peaced out and switched to PC Financial. I didn’t like the funds my Financial Advisor was putting me in, so I dropped her and am managing my own portfolio now. If there are charges on my cell phone bill that I disagree with, you can bet I’ll call them up to ask for a credit. Even if it’s just for 10 cents, I’m still going to do it. Last month, I got $13.54 taken off my bill b/c of something I disagreed with.

I also notice a difference in my relationship with BF, compared to past relationships. If something is bothering me, I’ll tell him. And we’ll talk about it. Probably longer than he’d like to talk about it, but the point is he knows how I feel. :) Perhaps it’s a testament to his understanding nature, but in the past, if something bothered me, I would have kept it to myself. And that’s just not a healthy thing to do.

I think we all deserve to be happy in our lives, but it’s up to us to make that happen. If you don’t like something, don’t just complain about it. Do something about it. Take charge of your life. It’s amazing the difference it will make.

Anyway, sorry for the long rant. All I wanted to say was that I’m frustrated that nothing would have gotten done if I hadn’t spoken up and asked for what I was promised. That’s all.


April Budget Challenge – Week 4 April 30, 2008

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WAHOO! We’re done! :) Now it’s time to focus on the May Grocery Challenge. Have you signed up yet? If you haven’t, today’s your last day!!! So far, we have 56 64 particpants, making this the biggest challenge yet!

How did you do this week, and what did you think of this particular challenge? Was it easier/harder than you expected? Did you learn anything from this experience?

I learned that I need to be a little more disciplined with my dining out, and I need to plan things better. When I’m hanging out with J, I never really know what we’ll end up doing … so it’s hard to keep within a set budget. Especially b/c he doesn’t budget for things like this at all. I would do better with an overall budget, I think … but I really like setting these goals for myself, and it helps to keep Personal Finance challenging and fresh and exciting.

Clothing

Dining out

Groceries

Miscellaneous

Other


Finally switching my cell phone number April 29, 2008

Posted by gmbmfb in : saving money , add a comment

Well, since I’m done my probation period, and since I’ve accepted the new salary offer and am staying in Vancouver … I should probably change my cell phone number over.

My cell phone bills have been around $10-15 more per month due to LD charges. When I answer my phone here, I get charged 10 cents/min (billed by the second) … but I can make local calls for free. It would be a lot easier if I just switched over to a Vancouver number. At the very least, I would be saving money.

It shouldn’t change my current cell phone plan … and if it does, then I’ll have to think long and hard about switching my number. My plan right now is so sweet. And if I had to pay for everything that I get, it would cost me more per month than the LD charges I’m paying right now.

Isn’t it funny, that something so trivial can make you feel connected to where you came from? I remember when I moved to go to university, there was a 3 hr. time difference … and for the first 4 months I was there, I refused to change the time on my watch. It made me feel connected to who I was, and where I came from. Even though having the wrong time confused the hell out of me, and every time someone asked what time it was, I must have looked like a moron just staring at my watch, trying to subtract 3 hours (and then when I finally switched my watch over, I still kept subtracting 3 hrs., which probably made me look even more like an idiot). For some reason, it was a huge deal for me to finally give in and switch it to the proper time zone. It’s the same thing with my cell phone number. By switching area codes, I’m finally giving into the fact that I live somewhere else now, and I no longer live in my hometown.

So I’m going to add it to my May Monthly Goals … to figure out my cell phone predicament.


May Monthly Goals April 29, 2008

Posted by gmbmfb in : monthly goals , 1 comment so far

May is going to be a pretty good month for me, I think. There’s not much going on. I’m traveling home for 2 of the 5 weekends for sure. I might go back for a 3rd weekend since BF is leaving around March 23rd to go to Alaska for 3 weeks, and I will probably have work at the arena.

Also, I have a hockey tournament on the May long weekend here in Vancouver, so I’m really excited to see my teammates and play again. I basically missed the entire 2nd half of the season since I moved over here. We are the defending champions of this tournament, and our team is killer this year, so I hope we can pull through again.

Anyway, on with my monthly goals.

May Monthly Goals:

I’m also not sure how much extra my pay cheques are going to be with my raise … so this month will be the month to figure out how much more $ I have to play with (and put into savings).


The 3-month review: results April 28, 2008

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Well, today my boss came to me with a figure just over $45k. That’s about a 12.5% raise from what I’m currently making (around $40k). He also said that I would be looking at another raise come September/October at the end of our fiscal year, provided I hit all of my measurable targets.

The initial offering from the job in my hometown was for $48k.

Not taking money, benefits, or anything else into consideration, I would like the job in my hometown better. That being said, I would learn more if I stay at my current job. This organization is very dependent on a few key organizations in terms of sponsorships and marketing (an aspect of this line of work that I want to gain more experience in), which isn’t the case with the new job. Sure, my boss is kind of a jerk, but I really like the professional-quality design pieces I’m getting to create, and that is going to look a lot more impressive in my portfolio than a bunch of brochures and posters printed off on an office photocopying machine (which is what would happen if I took this new job). The new job is much like the previous position I had within government. So, my current job wins in terms of the experience I’ll gain.

In terms of whether I’d be happiest in my hometown, or in Vancouver, that’s such a tough call. I personally think that I would be happier in Vancouver over the long term. Going back home is the easy thing to do. And sure, my friends and family are over there … but it’s not like they’re that far away. I’ll make new friends here. My career is really important to me right now, and if I want to get ahead, Vancouver is the place to be. I know there’s no shame in going home, but it’s important to me that I live in Vancouver. I want to show myself that I can do it in a big city, and I want to see how far I can grow my career and my contacts in the time that I’m here.

So, this afternoon I will officially be offered this new salary by the Executive Director, and this evening I have a lot to think about.


April Budget Challenge… April 28, 2008

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I will be posting Week 4 of the April Budget Challenge on the last day of this month. :)

For those of you who haven’t signed up for the May Grocery Challenge, there are 2 days left! So far, we have 43 53 participants!


A weekend update April 26, 2008

Posted by gmbmfb in : job, miscellaneous , add a comment

It’s a wonderful day today on the island. Just beautiful. BF was supposed to be on a ferry over here this morning, but he’s not feeling well, and I’m not sure if he’s going to make it at all. :( I was really looking forward to spending the weekend with him, and I bought him 2 tickets to the local hockey game for tomorrow night, which are non-refundable. Anyway I guess I’ll just have to hope he’s feeling better this afternoon.

This morning I had a meeting with the Executive Director of the organization in town. It went well. In the short term, this position would be the best fit for me. It’s about 5x bigger than the organization I work for right now, but it’s not as high profile. I would get paid about $8-10k more per year to start than my current job, 4 weeks vacation, and an amazing extended health package. Plus, since I’d be management exempt, I wouldn’t have to pay union dues. Basically, I would be a one-woman show in terms of the marketing/communications department, whereas at the job I have now, there are 3 of us, plus 1 intern. I told her that I would let her know my decision about taking this new job by Monday or Tuesday.

Anyway, that’s the update here. I hope you are all having a fabulous weekend! :)