Give Me Back My Five Bucks

According to a recent study done by a group of sociologists, young adults (aged 18-34) can actually benefit and improve their self-esteem by carrying debt. Debt has the ability to give them a feeling of “mastery” – or the idea of being in control of something. And the more debt you have, the bigger the boost you seem to get. That’s the good (?) news. The bad news is, this false sense of confidence only lasts until you’re 28 – when, as you can imagine, it starts to have the opposite effect. The study found that debt boosts self-esteem because … Continue reading →

Last week a friend and I were talking over coffee. She said that she didn’t know how I could live on a budget, or afford to do all of the things that I do – like go skiing, play team sports, travel, buy concert tickets, and even save for retirement. She said that the few times she tried budgeting, she felt deprived and irritated, so she stopped (a feeling I could absolutely relate to). I told her that the only reason I can afford to do anything is because of budgeting. Some people are just good with their money. They … Continue reading →

I was asked another question to my Formspring account: So do you still keep in touch with friends from your high-spending days? The answer is yes and no. I do stay in touch with my old friends, but there are two distinct differences: 1) we don’t talk about money unless they specifically bring it up, and 2) I’m not around as often anymore. This is partially because I don’t live in the same city, but also because I can’t justify spending money on the things that they like to do. Good for them if they can work it into their … Continue reading →

I just read an article on CBC.ca that says in a recent poll, 59% of Canadians live pay cheque to pay cheque. The article also stated that almost half of respondents are saving 5% or less of their income. And 40% of respondents weren’t even attempting to save money at all. Now, okay. I cannot criticize anyone who spends all of their money and doesn’t save anything, because I was once there too. But that isn’t the way to live. It’s stressful and it’s hard. So you either have to cut down on your expenses or work harder and make more … Continue reading →

Well, earlier today I sent in my first and only payment for my LASIK eye surgery. I was very lucky to have gotten approved for a 12-month 0% interest loan. Although, if I had to do it differently, I would have saved up the money and paid for it in cash. As most of you remember, I decided to get it done with the 0% interest loan because I thought we were going traveling, and if any complications were to occur, I wanted ample time to get corrective surgery before we left for our trip. But how was I to … Continue reading →