First Homes

I saw a great scene from my kitchen window the other day of the 2 houses we face. Both homes house young people who are just starting out on their lives. One couple just moved in and have no kids and the other couple just celebrated their first child's 1st birthday and mom has gone back to work after a year of maternity leave.

Our home is considered a sought after area (if you like old houses) due to the grand old homes, large ravine lots and mature trees. The big hold homes are built on land that are 3 - 5 acres in size vs the smaller homes on the side boulevards with the 24 - 30 ft frontage. So there is quite a difference. The closer homes are to the larger ones, the higher the price. These 2 couples moved in a few months of each other into their first homes that mirror each other in shape.

The scene I saw which put a smile on my face was of one husband coming home from work in the morning having worked nights as a plant electrician carrying his tool box and drop sheet up his front porch steps while at the same time, the new mom is walking down her steps with her ID card around her neck, going to work. Both contributing daily steps towards building their dream life.

Both people peacefully going about their business, oblivious to each other and me, who happened to have walked by my window at the same. I couldn't help thinking of how the cycle of life just keeps clipping along no matter what might be the current issue in my head. It was such an innocent scene to witness. And a reminder of how proud I was of my first home and how proud I was to come home to My Home.

Bank Options

As part of my due diligence, I called my banker to find out what he can offer as a line of credit rate should I wish to self finance my next car.

There wasn't any great deals as far as I'm concerned -- prime + 1%. But here's what did surprise me.

Lines of credits that are part of the equity of your house now will balloon to the available credit ie. will increase as you pay your house off, without having to apply for an increase... sounds dangerous, doesn't it?

To me it does. I find spending large sums of money really easy. Seeing I have equity available and having access to it are 2 very different things.

I can see just how easy it can be to say "yes" especially when they will only need 5 mins of my time to sign and go over paperwork.

So what I decided to do is to limit my expenditures to my unsecured lines of credits. That way, there is a ceiling on the amount.

More Car Stuff

I've decided to donate my vehicle to Teen Challenge Farm when the time comes. The thought of trying to sell my car privately doesn't appeal to me.

The only dealer who wants will take it on a trade in is another Honda dealership. D got $2500 as a trade for his '97 CRV with 314K. I would get a little more as mine is in better condition. But, I'm not looking for another Honda right now.

The reason being, I have this weird belief that Japanese cars built outside of Japan have more problems. Because I believe this, I look for the VIN to begin with a J.

There aren't too many Japanese vehicles we can buy that are built in Japan anymore. As vehicles get more popular, North American plants pop up to start building them, thus often lowering the cost.

People we know who own such vehicles have had more issues with their cars (old and new) then I have had with mine. So I'm a bit paranoid now.

D's Outback was put together in Indiana. Whereas all Foresters, WRXs and STIs are still made in Japan. I guess we'll wait and see with this one.

D's Civic (built in Canada) we had for barely a year had more issues than my car has had in 14 yrs and it was an 2005.

So now I'm looking to Germany for some inspiration. The reliability ratings can be mixed depending on the brand. I'm afraid it may come down to deciding on whether I wish to have a nice looking car that needs care or a spartan one.

Everyday Fun

I finally did my bookkeeping for January. Just in time to get ready to do Feb's too. Income wise, I am running a little over $3000 compared to projected.

I wish I can say it is sitting in a bank account somewhere. It probably is but as with most variable income businesses, it isn't so simple.

The $3000 is made up of cash and credit income. This year, as we are stable enough in our savings foundation we are able to continue to divide credit income between D and I.

Yes, we finally get actual spending money (outside of the "house" sponsored trips)! Not just the $40 a month allowance we've been living with for the last few years.

And it has been a great raise for us -- In the average range of $1000 each/month to do with as we please. This is why my 2010 trips are paid for and I've started looking at cars...

My cash income has been so far, enough to cover our savings goals, mortgage prepayments and visa bills. And when there is more cash coming in, then our savings goals get reached earlier.

It's divide and deposit after each work day. When my mortgage prepayment job ends in Jan 2011, it will be awesome. Life will get simpler. There will be less pressure to achieve a consistent level of income.

Last week, I treated myself to one of these and a facial. It was super! I hadn't been to a spa for over 2 years. Prices have not waited for me to catch up either. My total bill came to $136! You know what would be fantastic? To go once a month.

Car Ratings

Since I started on my car hunt, one of the most surprising things to come up has been the sheer diversity of insurance payments people pay.

I guess it is reasonable to expect that the topic would come up when discussing automobiles but I didn't expect the numbers to be so different.

Our insurance bureau has published a fairly comprehensive pdf rating the various cars.

If you work through the definition of terms and colour codes, you'll start to see how vehicles look like on their end and begin to understand why some quite "regular" cars have such high insurance.

Food for thought. Check out how your ride rates here in Canada.

Wish List Item

It's rare that I actually pick up a real book anymore. I read my news and books electronically. Because of that I'm considering buying a tablet computer of some sort.

We were at Best Buy a few weeks ago and they had just got in one of these... an Asus Eee Slate. The concept is pretty neat, I love the size though I'm not sure you wouldn't develop carpal tunnel holding it up.

Don't know if it comes with some kind of stand but it does come in 2 different hard drive formats. I'd buy the bigger one.

It would substitute for my laptop when I'm away and I will have something even lighter to read from. I find e-readers too restrictive size wise and function wise. The screens all seem too grey and small.

At the risk of offending Apple users, the ipad seems too trendy and more like a toy to me. I want something that can substitute for my computer when I'm away and something I can read with anytime.

I'm not interested in buying apps or books. I want to be able to use my library e-reader and continue to read free books without having to pay for data, therefore wifi is a must. My library system isn't compatible with Kindle or ipad.

I just want to be able to do what I do on a daily basis but in a thinner and lighter package. Where it can be packed away in my purse or carry on without an extra carrying case, without attracting notice.

Since I'm using Windows 7 and like it, the Asus felt like home to me. The price is steep as it is new but I'm expecting it to drop once the market becomes more saturated with similar products.

Some Guilt

One thing that has bothered me since the beginning of going out on my own is the fact I have not created any jobs.

My business is a 1 person show. I have honed things such the I am able to mostly manage all the moving parts. I say mostly because I am still getting used to the increase hours.

The extra administrative work I take on places my total weekly hours to 36.5 hrs a week of which 20 of it is admin. It started in the 50's.

I guess I could consider hiring someone to take over the 20 hrs but the work isn't challenging or hard. It is just menial. As long as I am willing to do it, my overhead stays very low and with my current rental income, I get to keep all of my pay.

I also like the scale of my business. It has shrunk since my move as some office constraints will not suit some clients. But the lowered numbers have been more than offset by the decreased overhead. Ironically, I take home more money now seeing less people but doing more admin.

More often than not, I can mentally see myself putting along like this for a while yet. That is a huge departure from where I was mentally at my old spot. I just couldn't wait to get out. Plus I really like collecting actual money, not just a paycheque. Who would have thought?

If I did hire someone part time and wish to bring home the same amount of money, I would have to work more. Would one just replace the other? In reality, no. I would have to work 2 more hours to offset the cost.

The thing is, I don't want to see more people. I see enough people. And I don't want to spend time managing people either. I like having the control. Guess I am coming back to the same answer as I did last time.

Food and Cars

We are doing super with the great freezer eat out. For those who don't know what I'm talking about, D and I decided to eat what we have (mainly meat) from the freezer since January.

And we are still going. There isn't much left and I cannot believe we had enough food in there to last us this long.

Next stop is the pantry. I got a start on it recently and cooking with what you have in stock really tests your creativity as well as points out any glaring deficits in your pantry stock.

We are finally at the point with our food account where there will be money starting to build up. I was hoping for it to already happen by now but a slew of household items needed re-stocking so our unspent food money went towards that.

I haven't decided if we'll just let the excess money build up or use it for something else. There aren't any more household items I can think of needing replacement.

No new news on the car hunt. Now that I've priced out new ones and insurance to match (worst case scenario for my pocketbook), I'm looking at used cars when available to get an understanding of depreciation of the different brands.

I've also learned a tonne reading the various owner forums. The information gleaned from them and chatting with friends who know someone who drives a "insert brand"...has helped me rule out some from my list, potentially saving me a bunch of money and headaches.

Newer cars are so complicated it seems which can mean increased maintenance costs and sophisticated computer managed systems don't come cheap to replace or fix.

I feel old and resistant to change when I get looking at some of these cars. I'm used to manual dials for heat and air conditioning, not a center touch screen where I can precisely adjust the heat on the car seat for the spot in between my shoulder blades...

It was mad confusion for D figuring out how to turn my seat warmer off as I don't like it, as I drove off a the dealership lot during a test drive.

There is a big gap between what I mentally classify as wanting something "fancier than my car" and where new cars are now having been out of the game for 14 yrs. For me, it is almost too much. The learning curve has been steep enough.

D groaned when I told him last night I will probably end up with a 4 -5 yr old Subaru Forester or Outback. He's still holding out on the hope I'll pick something a lot more fun than that. So much so, he has offered to pay for half...

Ironies

I admit it. I tend to be a homebody when I'm at home. And I really enjoy just puttering around without a schedule.

That's probably why some of D's friends cannot get their head around me travelling around by myself. I guess they've only seen the homebody me.

This came up the other day during a conversation with a friend of mine who runs a solo home business. They are a one car family so when she's at home all week, she feels stranded and stuck.

So they are now looking for a 2nd car. She did have a car but gave it up when the lease expired, thinking she wouldn't miss it.

Yes, I'm full of ironies as I don't feel stranded when at home for long stretches but I'm the one car shopping.

Wrap Up

I'm behind in my 2011 bookkeeping. I have all the papers and numbers ready for Quicken but haven't sat down to start it -- maybe this weekend.

Despite February being the smallest month of the year, it tends to feel like the longest to me. And despite my having just come home from a short vacation, I am ready to leave again.

I think it is the winter blues/blahs etc getting to me again. I do use a light box and am working out on my exercise bike again. And in a few weeks we will be leaving again.

There are 3 more test drives to be done and the car research will have wrapped up. No real timeline for a decision. It's nice not to have pressure that way. I'm sure the salespeople wish otherwise.

Work Balance

The 2011 work year has started off really strong. So far I am ahead of projections significantly, by almost 3 weeks.

Being self employed has its benefits when something like this happens. The first thing to pop into my mind is "why don't I take more time off?".

So I'm toying with taking a week off mid year should my numbers continue to be ahead of the curve. I'd love to go back to Italy or spend it up north.

I know my way of thinking is "anti-entrepreneur". More profit isn't always better, especially if it leads to burn out. More time for me, works better.

Insurance Comparisons

Hunting for next vehicle candidates have been alright. I'm not your typical car buyer and no matter how excited I may be about a car, there isn't any way anyone can talk me into buying anything more expensive than I can afford.

One of D favourite sites is "leasebusters" where you get to read the sometimes pathetic stories of people who are looking for others to take over their leases of mostly high end luxury sports cars just months after they committed.

I just don't see how someone could be talked into signing on the dotted line for a 6 figure automobile. You'd literally have to drug me out for that to remotely have a chance of happening.

I continuing my due diligence yesterday by giving my car insurance people a call to get quotes on potential next vehicles. Man, did I learn a lot.

My assumption was that I would run away screaming by the time I got to the higher priced vehicles as I thought the pricier the car, the higher my insurance would be. Turns out that is only partly the truth.

Vehicles are rated on bodily injury (1 - 10) and comprehensive (1 - 99). If I understood properly, you want the lowest number for bodily injury and the highest number? for comprehensive. The safer the car, the lower the rate for most vehicles. Some really high end vehicles are the exception.

Here's how my insurance quotes played out: (based on $1000** deductible), total purchase price at the end in brackets.

• 1997 Honda CRV : $581.00/yr or $48.42/mnth with no collision insurance anymore (current vehicle, my first car)
• 2011 Subaru Forester 2.5XT Limited : $760.00/yr or $63.33/mnth ($41945.60)
• 2011 Audi Q5 2.0T Prem Plus Tip qtro : $700.66/yr or $58.39/mnth ($57931.37)
• 2011 BMW X3 xdrive 35i : $749.00/yr or $62.42/mnth ($62022.00)
• 2009 Porsche Cayenne GTS : $912/yr or $76.00/mnth ($88671.10) **The deductible on this vehicle is a mandatory $5000 for comprehensive whereas the collision is $1000. And finally, a neat fact -- Porsche has never had a recall.

I had a great chat with the insurance representative as her dream vehicle is the BMW X3. Hope this helps those of you out there who are searching as well.

Too Much Fun...

Happy Valentine's Day!!!

We don't celebrate it, meaning we don't exchange chocolates, cards, gifts or go out for dinner because of the day. I don't believe it is because we have no spirit.

We just don't need a day on the calendar as an excuse to do nice things for each other. If it happens to land on an "official", then extra cool. Otherwise, we don't worry about it.

I've been a bit of bad girl lately. I'll get to that later.

First of all, a monumentus discovery at home -- We finally figured out our dishwasher! For the last year, we had resigned ourselves to not using it much because it just takes too long.

The results are better than any other dishwasher I've seen or used but 3 hrs is too long. That's on regular cycle. So, I've been sulking since then because I spent a lot of money on it. It is a KitchenAid.

Reading the manual is usually a good idea and we decided to try the "quick clean" cycle to see what the results would be. It wasn't described as suitable for much outside of getting some drinking glasses clean but you never know?

To our surprise, it got our whole load of dishes clean in less time than it takes me to take a bath. So we are back on the dishwasher bandwagon and I am just ecstatic!

None of the other places we own have dishwashers so I'm taking advantage of having one here.

As to the "bad girl" part, I went to check out vehicles at a Porsche and Audi dealership...

I sat in a couple of Porsches (Panamera and Cayenne Turbo) and they kinda scared/intimidated me. They can paint/make a car in my favourite colour. All I have to do is give them a swatch.

Isn't that crazy? What is also in the crazy category is the price. The used Cayenne Turbo cost $88000.

I was quite taken with the Audi Q5 but so is everyone else. There is a 3 -4 month wait on one. I wasn't too impressed with the drive. I expected more fun out of something that is built from an A4 platform.

What it lacks is partially made up by the rest of the package. I've wanted an Bang and Olufsen stereo system ever since I was a teenager. And that panoramic roof with a built in noise screen? To die for...

2010 Mortgage Summary

I look forward to my bank's annual mortgage summary statement each year and ours came yesterday.

Here's how the numbers played out in 2010:

Main House

• Jan 1, 2010 balance $117258.84
• Regular principal payments $19963.77
• Additional principal payments $26139.33
• Dec 31, 2010 balance $71155.74
• Total principal paid $46103.10
• Total interest paid $1529.23

Ski Condo

• Jan 1, 2010 balance $34626.78
• Regular principal payments $7286.99
• Additional principal payments $6500
• Dec 31, 2010 balance $20839.79
• Total principal paid $13786.99
• Total interest paid $504.20

Our Nexus Cards

Our Nexus cards came in the mail yesterday. My picture is not great as I had suspected since the person who took it was holding the camera with one not very steady hand...

We thought we would get our irises scanned at the interview office but were told it is done at an airport so we'll have to figure something out as the real value of the cards for us is for air travel.

We also found out it is a requirement to show up at a border office once a year to update information. It is an informal thing but necessary none the less. I feel it is an additional hassle that isn't spelled out anywhere on their website.

The interview process wasn't, in my opinion, very professional. I thought we would be taken into an office to be interviewed. Instead, they were set up to interview 4 people at a time with each of us standing at a counter where you could hear what everyone else was saying.

As the questions were of a personal nature, I couldn't help thinking this wouldn't fly in Canada where we take our privacy laws very seriously.

Car Woes

I don't lead a typical life. Nor do most of you out there in blog land. We lifestyle and personal finance bloggers tend to go against the grain.

We are hoping to strive for "typical" life goals earlier and faster than most and we are choosing to live differently in order to do so.

Most of us have not inherited any large sums of money to give us a head start. We seem to enjoy "beating others at their own game" and circumventing what social norms we have around us.

I wonder then, if that particular mindset has led me to attract the "not easy" things in life?

D wondered that out loud yesterday when we spend a few hours looking up potential candidates for my next vehicle.

It does seem like I cannot settle on an "easy" vehicle either in availability or in just the right combination of features at the right price.

So the search results show like this: Only 30 in Canada, I hate the seat fabric, it is on back order, you cannot even find one in the showroom to look at because they are sold out, what I would like costs more than my mortgage outstanding or I would have to buy it from another province without ever seeing what the colour really looks like...

Why can't I like an "ordinary" vehicle that is mass produced, with many found on dealers lots?

Because I've been driving one of those for almost 14 yrs now and she is still going strong and will likely keep working for me for another 5 plus years at least.

And because ever since we came back from Berlin, I've grown an appreciation for German design, engineering and performance.

These are problems of the privileged, I know.

Back Home

I was very lucky. In the midst of multiple snow storms in the US, my flights managed to dodge them all and I made it home on time and unscathed.

With what seems to be signs of increased extreme world weather "getting there" and "getting home" can't be taken for granted necessarily anymore. It has made me reconsider whether I would travel during the winters in the future.

Having said that, I enjoyed just glorious weather on my trip. It was nice to spend the day outside in shorts again.

One glaring thing I noticed this time around, revisiting some old haunts was the cost of things in Miami and Nassau. Food was significantly more expensive than 3 yrs ago when I was there last. And I am not talking about tourist traps.

I spent more of my cash than I ever did before there. When things are $5 more expensive on average, a few items later, it adds up each day. I also tipped more this time around so that was part of it too.

The spirit of the people I met were "dampened". It could be the recession has taken a toll on peoples' enthusiasm. There was a consistent base level of desperation exuded from the various salespeople I encountered. It made me sad to experience it amongst a backdrop of light hearted winter vacationers' celebrations.

I'm one of those people who cannot turn a blind eye to the realities of life. One of the main reasons why I've never been to an "all inclusive" vacation. Most of the resorts I hear about are compounds where you are separated from the reality of the rest of the island which most of the time are very poor.

I'd want to interact with locals and depending on where you go, it may not be advisable due to crime. I also wonder what the locals must think of the people they see bused in from the airport who spend their week drinking and eating up a storm getting all red from the strong sun?

I never tell my clients where I go when I take time off. Because most of them have either lost their job or are feeling the fall out in their line of work, it doesn't seem kind for me talk about my vacation plans as I tend to travel more than most people I know. Plus it would not be considered professional for me to do so.

I'm not saying that they wouldn't be happy for me, I just feel my news may act like salt on a wound as I'm sure they would like to be able to go too but maybe can't right now.

Time To Go

The time has come for my quick getaway to a warmer climate. Back next week. Have a great week Everyone!

Photo credit: California poppy (Eschscholzia californica) Poppy Field Poppies by mikebaird

Tax Time

Well, I've gotten my taxes inputted on my online software site. I owe a small amount (under $200 but subject to change as I have yet to receive my tax slips from investments) as I invested under my rsp umbrella this year.

As D was first hired as a contractor for his current company, he has a more complicated tax return this year. I don't think he is liking it and is hoping he will stay full time for the foreseeable future so he will not have to do it again.

We are pretty sure that D will be putting some money in his rsp this year as well. As more info trickles in, he'll know better.

Choices

Our heating bill isn't on the "budget billing" option whereby you are allowed to pay the "same" amount all year round, calculated from last year's billing.

The reason we didn't opt for it is because I want to know just how we are doing with our gas usage even though it means paying more during the winter months. For some reason, I think I would be less aware of my thermostat otherwise.

Every quarter, some companies calculates actual usage and will adjust payment amounts if it is looking like things are getting out of hand. Another company will wait until the winter season is over and charge a one time "catch up" payment which could be an unwelcome surprise.

The quick survey of my colleagues' offices landed my office utility increases in the middle of the bunch. One person's bills have nearly doubled for heating and 50% increase in hydro. The other I asked had numbers close to mine but couldn't comment with heat due to budget billing.

In other news, I am starting to wonder if I made an error booking a flight with LAN. I've had 3 changes so far with the first one pretty extreme ie. as of April, LAN has decided they will not fly out of Canada anymore...

This particular trip won't be coming around for months. I just hope there will not be anymore 40 min phone calls...

Work Utilities

There has been a significant increase in our utility bills at the office vs at home. Heating so far this winter has been 50% more than what we pay at home.

I realize commercial utilities as well as property taxes are higher than residential but seeing the numbers for real can still be shocking.

I'm going to ask my other colleagues who also run their own offices if they have seen a jump in their bills. Not that we can do too much about it outside of weatherstripping but it is nice to know if I'm far off the mean.

We are nearing the end of Jan and I am just starting to feel like I'm catching up. I'm grateful work has been busy enough. There are still casual return calls to be made to friends, cards to send, books to read.

In the ideal world, we'd be hibernating and have time to slowly get to everything. But in our working world, those of us non retired people must keep going even though I would prefer to take a nap.

Hubs

We are in the midst of investigation some new technology that doesn't help us save any money per se, but will increase our lifestyle flexibility.

With Rogers it is called a "rocket hub", with Telus it is called a "smart hub" and with Bell it is called a "turbo hub". What it is, is a portable wireless modem that plugs into an electrical outlet allowing up to 15 devices to connect to the Internet via the wireless network.

Currently we have no land line or Internet at the cottage. This device would allow us to go to the cottage say on a Thurs night and D would be able to work from there on Fridays, thus allowing us to avoid the typical Fri night traffic. I would be able to do my administrative work from there as well.

The cost of this hub is $150 for the unit and a min plan of $35/month.

The coolest potential feature is the ability to use this across Canada. You are likely realizing where I'm going with this... it would replace the Internet service we currently pay at the ski condo.

It can work at airports and hotels that do not offer WIFI. And should we ever decide on a property out east, it can work there.

We could use it at home or my business but there are data limits depending on the plan and D didn't think we could depend on it for daily life.

We need to ask more questions. They offer a 15 day money back guarantee just in case we take it up north and get no reception.

Took The Plunge

Well I took the plunge and decided to reduce my work hours slightly by 2 hrs a week. I do not expect this move to adversely affect my earnings.

It will just serve to condense my time and work more efficiently. As this time cut lands on a Friday, I will also get to start my weekend earlier. Yeah!

My first trip of the year is coming up soon and I'm keeping fingers and toes crossed no major snow storm is going to hit Atlanta or the eastern seaboard. The way winter has been so far, they have had their share of flight delays.

Running your own business has its share of headaches. We are finding that out. If it isn't technology, it is people including myself! If it isn't people, it is the banks.

I run a pretty simple operation. Can't imagine wanting to do this much bigger than it already is.

Have a great weekend everyone!

Tough Start to the Year

We just found out a friend has lost her job.

She is 43 yrs old, single and has been working in her industry for 17 yrs. No one in the office saw it coming.

The business is going to shut down with no attempts to sell it as the owner has had enough and just wants to retire.

She just bought a house 2 yrs ago. There is little equity and the mortgage is a slight stretch as it is.

I don't know if she'll want to sell and downsize. Her industry is one that has been steadily declining over the last 5 years.

There will be severance and unemployment insurance after but the real challenge will be income replacement for her position is pretty high up and not the easiest to find.

A lower paying job in the same industry may not pay the bills.

I told her that being single can mean flexibility with job location. As much as she may not wish to move, she can, if the right opportunity comes up.

Clipping Along Coldly

Since I've been at my new office location, my morning commute has shrunk. One consequence has been my lack of cold weather acclimatization this year. I haven't been able to keep warm since Nov.

My lazy body knows what the answer is -- cardio and it shall start today.

D and I both got our Nexus pre-applications back and we are scheduled in for interviews in the next few weeks. The timing is perfect as I will be flying out of the States soon. The interview is supposed to last 1/2 hr.

The Bank of Canada rate announcement on Tues ushered in no changes so our mortgage payments stay put for now.

D started contributing to his employee stock ownership program and the results are slowly trickling in. There is something to having a small amount of money taken beforehand and seeing how even it can slowly add up.

Me, on the other hand has invested $9000 in stocks in both my non registered and registered accounts. The later to help lower my taxes owing this year.

As with each start of the year, I'm anxiously waiting to file my taxes, just to get last year over with. There isn't much satisfaction as I have to wait for the various investment slips to arrive which won't be until Feb.

Exit Strategy

There may be an upcoming glitch with my new office.

I rent out space to a colleague whose side business may be getting to the point where they will no longer need to rent space from me.

I'm happy for them and their future opportunities. In the last few years they have been discontented with their primary work and have been looking for alternate ways to earn/replace their primary income.

They are anticipating in the next 6 months of making a real breakthrough.

So, I've been re-working my cash flow spreadsheet in light of the news. So far, the impact would affect my savings and some re-prioritization will have to happen.

Playing around with the numbers, I figured out if they quit today, I will still have achieved my prepayment goal for the year.

So anything beyond today, I will be achieving the next savings goals on the list which is beefing up my working and non registered accounts.

I do not require their income to afford my office.

It has been a good exercise for me to remember what it means to depend on others to afford things and how I don't like to do that.

We will be having a talk tomorrow about their exit strategy.

Fun Planning

I am starting to compile a wish list for when my mortgage prepayment duties are done a year from now.

In no particular order:

• new sandals
• 40" LCD TV
• new clothes
• art classes
• dance classes
• degree courses
• work one day less (will depend on how much my activities will cost..)
• some sort of tablet computer
• getting some coats tailored
• a newer car
• a new stereo for existing car
• grand canyon hike
• visit Asia
• take a month off

Nexus Cards

D has gotten it in his head that we ought to apply for the Nexus cards so that our cross border trips and flights in/through US customs will be quicker and easier.

It costs $50 US for 5 years and in order to apply you have to do this pre-application which takes a while so that you can be issued an online log in whereby the real application can be done.

He haven't figured out if we pay whether we'd get approved or not. Once the application is processed and approved, we have to show up at a border office to get interviewed and should be pass that, our pictures are taken and ID card issued.

D got his pre-application done last night. I haven't started mine yet and am not convinced I want to due to sheer laziness right now. Otherwise I feel the idea is sound.

What if only one of us is approved? How will border crossing in the same car work then?

New Toys

It was a good thing we are eating our way through our freezer because the money we didn't use in our food account was needed to pay for some household supplies that all decided to run out at the same time.

Isn't that something? So no satisfaction of watching that account grow a bit. Well, at least we won't have to buy all that stuff again for a long while.

D got his bonus last week and he couldn't help but overhear numerous discussions around his work area of peoples' intentions with their money.

The number one item on peoples' minds were new large (60 inch) flat screen TVs.

I must admit, I have been wanting one (40" LCD) for movie watching in a different room for a while now.

D and I were at Costco yesterday buying all the household supplies mentioned above and I took a few minutes to look at all the TV choices.

I chuckled because if and when I do pull the trigger on a new TV (to replace my 19 inch tube one), it would be the 2nd TV I'd have ever bought in my life.

The same situation when I replace my current car. Now how many people under the age of 40 can say that?

Poem

Great poem recommended by AONC.


Every time you leave home,
Another road takes you
Into a world you were never in.

New strangers on other paths await.
New places that have never seen you
Will startle a little at your entry.
Old places that know you well
Will pretend nothing
Changed since your last visit.

When you travel, you find yourself
Alone in a different way,
More attentive now
To the self you bring along,
Your more subtle eye watching
You abroad; and how what meets you
Touches that part of the heart
That lies low at home:

How you unexpectedly attune
To the timbre in some voice,
Opening in conversation
You want to take in
To where your longing
Has pressed hard enough
Inward, on some unsaid dark,
To create a crystal of insight
You could not have known
You needed
To illuminate
Your way.

When you travel,
A new silence
Goes with you,
And if you listen,
You will hear
What your heart would
Love to say.

A journey can become a sacred thing:
Make sure, before you go,
To take the time
To bless your going forth,
To free your heart of ballast
So that the compass of your soul
Might direct you toward
The territories of spirit
Where you will discover
More of your hidden life,
And the urgencies
That deserve to claim you.

May you travel in an awakened way,
Gathered wisely into your inner ground;
That you may not waste the invitations
Which wait along the way to transform you.

May you travel safely, arrive refreshed,
And live your time away to its fullest;
Return home more enriched, and free
To balance the gift of days which call you.

-John O’Donohue

Recommended Article

I was looking around the travel section of the Globe and Mail and stumbled upon a great article.

Hope you enjoy it as much as I do.

Have a Great Weekend!

Weird Behaviour

I got a gift from D the other day. I would say I reluctantly accepted it. He would call me impossible. It is an Origami calendar. I've wanted one for years but would not spend the money to buy it.

Now that the new year has started, it is on sale for 50% off and I still didn't want him to buy it for me because I wanted him to save his money. I didn't even want to buy it for myself because I don't know, I was being cheap to self.

So D grabbed the one left and stormed off to buy it, all the while mumbling how difficult it was to have me accept a gift.

Now that I do have it, I had fun folding my fifth origami character today. It is a stress release because you don't think of anything else while doing this activity. I'm glad I accepted D's gift.

If you ask D, he'll tell you I spend almost no time if the item in question is over $500 but when it is under $50, watch out, I can spend hours mulling it over and apparently also valid for other people's money.

Travel Tips

I've been asked how I go about finding my travel deals. There really isn't a secret method but there is a pattern of search.

First of all, I do not use a travel agent. It's nothing personal, I just find it easier and quicker to look up stuff online. If your itinerary is complicated ie. round the world tickets, needing multiple entry visas, then I would look up an agent that specializes in the area to help expedite if I cannot figure things out from the various embassy websites.

Right now, my travel locations of choice are pretty much all 1st world countries so accessibility isn't a factor.

If there is a national airline to the country of choice, I start there. Searching there will give information re: What the main airport hub of choice is. Sometimes, it can be cheaper to catch a flight deal out of JFK or Boston. Then I would compare flying out of Canada.

Know the travel seasons as it will make a real difference in price. I tend to travel in low season ie. winter time in Europe and colder countries and winter time (my summertime) to warmer countries (southern hemisphere).

I subscribe to email notifications from my favorite airlines as well as travel compilation sites like Travelzoo and Sherman's. They will email once a week with the best deals on the web and I've seen some great stuff there. It's also too tempting some days.

Recently, I got to playing around with multi-locations searching on the airline sites. Two of our trips this years has been a result of that. For some reason, direct flights were pricing much more expensive than if I hit 2 countries instead. So if you are flexible, give that a try.

Just remember, the one country has to be the main hub for the airline. For us we wanted to get to Amsterdam with KLM. We paired it with Rome, Prague, London, Bucharest and picked the best deal which turned out to be Rome -- Amsterdam combo for $705 vs. Amsterdam alone for $1150.

I tried the technique again with Icelandair and ended up with a good flight to Reykjavik and either London or Stockholm. I chose Stockholm. Flights to Scandinavia are not known to be cheap and I got my combo flight for $843.

When I am just searching for fun and do not know where to start, I use Expedia to get a general idea of who is flying where and what hotels are available. D is a big fan of Hipmonk as a flight search engine.

For hotel feedback, I'll read a few comments on Tripadvisor. Combine what people have to say with a grain of salt, use your common sense and go from there. Then I go to Homeaway to look to apartments which when available have beaten hotel pricing every time.

I collect travel points from all sorts of places. Right now my favorite is with Delta Skymiles. I find I earn points faster and because their flights code share with KLM/Air France, I do better than if I were to collect Flying Blue. There are some airlines I like to fly who don't give great miles. British Airways is one of them so I don't worry about it.

My primary Visa is a travel card as well. As soon as I get enough points for a flight, I will use the points. I'm not one to save for years and years in hopes of getting a first class flight. Too impatient for that and with points expiry to keep track of, I can't be bothered to remember. My card will allow me to use my points on flights if I book with them. This is the only time I will use a travel service.

The limitations I've found with a travel service linked to a travel card is that they control the reservation. Sometimes you cannot get all the information from airline sites about your reservation or are you allowed to pick seats on a long haul flight (very important to me).

Case at point. I just used up my points to fly to Buenos Aires this summer (a rebook of the trip I cancelled last summer due to my work place move) with LAN. I didn't have seats and tried to book seats online which didn't work completely.

When I called the travel service, they told me I had to contact the airline directly. They were really great about it and I got most of my seats and will have to call back in a few months to confirm the last leg. Much easier when you can manage everything online. Had I booked with LAN online, there wouldn't have been any issues but this is one cost of using points.

Another points issue is the amount of work needed to the get the flight of choice when the reward flight is coming from the airlines themselves. What I've found is that the best flights go first and go early.

I've booked at least 6 months in advance for some routes (high season) to get direct flights. Otherwise I have to tolerate an extra hop or 2. Aeroplan and Delta have been tough ones to find good flights on points.

All the hoops just forces me to be organized and to think 1/2 yr to 1 year in advance in order to save the most money.

Some final scattered thoughts.

I don't use a service to book rail tickets. It is cheaper and easier to buy non high speed train tickets once in the country. Same with ferry.

Other than a cruise, I've never been on an all inclusive vacation to a tropical country so cannot comment on how to get the best deal there.

With respect to cruising, it is a great way to see a number of places (ie. Russia, Scandinavia, Asia, Alaska) that may be hard to get to otherwise. The way I see it, if I really like the place, I'll go back and stay longer. I use cruise review to read up on the various ports.

Finishing Up

D and I will be eating our way through our fridge until all the food is mostly gone before buying more. We have cut back on meat consumption so much that we feel there is too much of it in the freezer and that bothers us. Plus I don't want some of it going bad from being in there too long.

I'm looking forward to the positive effects it will have on our food budget as we will only need to be buying fresh fruit, veggies and staples for the next little while. Some extra monies built up in the food account would be great. It makes me feel like we are ahead of the game.

I spend an hour or so getting the rest of my 2010 bookkeeping completed. It is looking like I may owe taxes above and beyond the installments I've already paid. So, I am playing around with potential RSP contributions vs. just paying what I will owe.

Donkey Time

I want to start the new year with a funny story (might not have been funny at the time depending on who you were) about my donkey ride up in Santorini. For new readers, I am a huge fan of donkeys and English Bulldogs -- Perhaps my stubbornness streak is showing.

Santorini can be approached by boat and plane. If you come by boat, like I did, you have to make you way up. You can do it in 3 ways. Walk up the 600 steps, take the cable car (ski gondolas) or ride the donkeys.

When you get off the boat, you are intercepted by a really tanned shepherd guy who is kind of shouting at you to take the donkey ride up, "only 10 min to the top". Later you find out it costs 5 euro, just slightly more than the one way cable car ride fare.

So those who are game are pointed in the direction of a fairly narrow alley whereby all of a sudden you see the donkeys and other shepherds in a tight little space. As no one volunteers to speak in English, you just stand there until you hear someone shout "up! up! up!".

I didn't know they were talking to me because they were a bit ahead and I had no one else to talk to about this. I thought that was the way they call the donkeys...It was too late to bring out the Greek language cheat sheet out of my purse.

After the embarrassment I walked over and stood there on the ledge. The donkey stirrup was 3 feet away and neither it or the shepherd were going to maneuver any closer. I'm not tall but I am flexible so a mini splits later, I clambered on the donkey wondering what I've gotten myself into.

When you go on a trail ride say in Arizona, you are given helmets, some instruction and a waiver to sign. Afterwards you are grouped together and led from the front and back by experienced guides.

In Santorini, the donkey gets a pat on its behind and off you go, with no way to steer, no helmet, no waiver and no guide or direction. Nor do your stirrups get adjusted if one is longer than the other.

Shortly after departing upon rounding a corner, I saw my first donkey rider. She was at a complete stop and was trying to convince her donkey to start walking. She had been stopped for about 10 min, the time it was supposed have taken to get to the top. The donkey didn't appear to understand English.

She turns around and said that she hopes her donkey will start up if it sees my donkey. Meanwhile, I'm hoping my donkey wouldn't decide to stop alongside her donkey. Luckily mine kept going and hers did start up for a couple of steps before stopping again.

A few turns later, I meet up with the lady's husband who is stopped on his donkey. We both decided that this ride was going to take much longer than the 10 min advertised. We ended up riding up the rest of the way together as his donkey seemed to like walking with mine.

The thought came across my mind that should I fall off the donkey, I wasn't sure if I'd attempt to stop my donkey and climb back on. We decided that we'd cross that bridge should we get there and hopefully if we did fall off, it was towards the rock wall side and not the cliff side. And he would deal with his wife being near the bottom of the steps later.

I'm not sure if it was a deliberate donkey thing or maybe donkeys do not have a good 3D sense but my donkey started to walk really close to the edge and very close to the rock wall. I had a time ducking under trees, rocks out juts and having my stirrup leg and ankle scrape along the rock. A few times I had to lift my leg out altogether.

It was closer to 30 min by the time we sort of got to the top. The donkeys suddenly slowed down and diagonally parked themselves against the wall. I think they had their own parking spots! So here we are sardined amongst other donkeys that were already parked. How to get off when you barely have 1 ft of space between donkeys.

I waited for about a minute and decided I just had to get off and squeezed my way down between donkey bodies and hope I wouldn't get kicked. It was fine. It was the first time I really got a good look at them.

I was worried that I would find donkeys not in great shape and overworked. To my surprise they were all looking very healthy, good coats and not exhausted. They work all year and Santorini is hot in the summers.

We had to walk up a little ways to get to the top and a bit more to get to the center of town. On the way, I saw a couple of women who decided to take a donkey ride down. They were screaming in fear. Hope they made out alright. I never did get to say goodbye to the fellow I rode up with as he went in search of his wife.

Sad News

We received some sad news this morning.

A colleague of D's died last night at age 40. He had been battling cancer for the last few years and had been given a clean bill of health.

Unfortunately it came back with a vengeance and things moved back too quickly. He is survived by his wife and 2 kids, both under the age of 10.

I haven't made it to my 40th birthday yet and when you hear of news like this, it really makes you think about how you are spending your time and how you are treating others along the way.

We will make it home in time for the funeral and visitation.

This is a reminder for all of us to live while we still can. Wishing you all a joyful and prosperous 2011.

Just a Guess

It's just a hypothesis but I'm beginning to believe people show a lot of their personas on the ski hill, especially after getting off a ski lift.

We have been able to identify a number of personality types. I would venture as far as to postulate those traits may be similar in the way they handle money.

Here is my not so scientific take on things:

Persona A: The skier/boarder who quickly scrambles off to one side after falling. This person shows awareness and consideration. I would have more confidence this person would be considerate and careful in the other aspects of their lives. They appear to recognize that there is something to lose should an injury occur and also do not want to be a cause of one.

Persona B: The skier/boarder who stays where they are after falling, not look around and expect others to go around. No care or consideration for others or self. The world revolves around me. Huge ego. Nothing could possibly go wrong. I could see someone like this be adamant about being right. Not performing due diligence. Pride getting in the way of common sense.

Persona C: The skier/boarder who is lying down or kneeled right in the middle of a run where people are known to be approaching fast. Inviting danger. Extreme risk taker and gambler. D witnessed an accident the other day where someone got slammed hard and the results were pretty bloody. I'm thinking this type of person would be reckless with money. Easy come, easy go attitude. Believing they are stronger than they are and that they will always land on their feet.

Getting Organized

I don't really have anything to wrap up for 2010 that I've not said already. We'll be flying home in a few days and my 2011 work year will start soon enough.

Am I ready? Am I ever really ready is probably a better question! I'm not convinced I'm ever really ready to jump back into work. I just do it.

The 2011 travel plans are a much more interesting topic. The trips are not spread out as evenly as I'd like due to availability of deals and low season timing. I'm lucky I do not prefer scorching hot weather. The budget goes further this way.

This is the first time I ended one year with travel plans the following year sorted out and 90% paid for as well. Never have I been this organized.

Since my new office started, I've found I needed to be more efficient in my personal life because there isn't as much time anymore for casual searching.

My goal is to maintain a high work concentration next year and know that at certain points of the year, I'll get to see some cool new places and all I have to do is pack and get to the airport. The details are all set.

A whole lot of peace comes along with that.

Shocking Behaviours

D and I overheard 2 separate conversations by kids in the 8 - 9 yrs old range. (remember we are still out west skiing)

My snippet went like this:

(to their mom screaming) "Why are you so slow!!!" and "Why are you not getting my stuff in first!!!" (as they we walking down the hallway to their condo)

D's snippet went like this:

"My family only stays at 5 star hotels when we travel" , "My father owns 3% of a private plane company" and "The first time I got to fly on a private jet was when I got my money at age 1" (all during a ride up on a chair lift)

I would ashamed to have kids like the ones above.

The first one doesn't get how lucky they are just be able to spend Christmas skiing nor do they appreciate that mom isn't synonymous with slave.

The second one needs to learn that basic social conversational skills shouldn't include bragging.

Credit Card Expiry

I have 3 credit cards. A Visa, MC and an Amex. At one point in my life, I was down to one and got caught not having a pin for it in Europe about 10 yrs ago (before Cdn cards became pin cards) and Visa wouldn't give me one over the phone.

That's how I ended up getting the MC and Amex because they would. Because you never know when you'll be needing back up.

I'm in the midst of finalizing my last trip of 2011 when I noticed 2 of my 3 cards are expiring in Mar 2011. The last one (MC) in May 2011. That presents a bit of a pickle when you are hoping to take advantage of sales and make reservations later on the year.

I know my Visa company will not issue the new card until 2 weeks before. I cannot remember what MC does. Amex sends replacement cards the earliest, about 1 month before.

Making the situation more complicated than it ought to be, it would be nice to get some reward points for this trip which mean ideally, I'd like to use the Visa.

In the end, I will likely just use the MC as the trip I'm working on is at the end of April just so I can finalize things before the new year.

Month / Year Wrap Up

D handles all of our monthly bills. They are deducted automatically from the checking account. He has just told me that the account has more money in it than it needs. Of course I stop in my tracks and give him a long look.

We could use the money in our savings accounts. And I like to end each month and year accurately. In the end, when he crunches out our January bills, that amount left over may be well under $1000 but money is money and we have use for it.

2010 has been a crazy environmental year. From the volcano eruption to earthquakes to the current flooding and mudslides in California. I watched an interview with a lady whose house is 1/3rd buried in mud after being flooded. She mentioned that she didn't have flood insurance so she has literally lost her home.

I know some homes are not eligible for flood insurance because the insurance company are not willing to take a risk in a known flood zone. Hopefully you find that out before you buy. For our cottage, because a stream sits in front of it, we were not able to buy flood insurance.

We weighted the risk with the size of the stream, first hand accounts of flooding from long time neighbours and decided we were willing to take the risk of purchasing the property. There is a crawlspace instead of basement.

I want to take this opportunity to wish Each and Everyone of you a Wonderful Holiday Season. Thank you for being Valued Readers and Contributors!

Looking Back and Ahead

I've been slightly under the weather the past few days so there was plenty to time available for me to work on my yearly spreadsheet. In fact I have the next 2 years kind of mapped out.

The reason being, 2012 is a pretty important year for us. It is the year my mortgage prepayments end and both mortgages get to coast to their term ends. We will then get to own both places after just 5 years. It may sound great but...

Would I recommend doing this? Not really. Just like I wouldn't necessarily recommend completing grade 10 level of piano. The sacrifices are great and there are plenty of opportunity to build an unhealthy level of resentment. I guess you need to know what you are getting into and have a spouse (if applicable) who is on board and can balance out views.

I finished my piano levels because that was part of the deal I made with my parents for them buying me a piano. I struck that deal as a 7 yr old and I felt obligated to stick with it.

I cannot say I am passionate about the instrument. I am good at it. Through the whole process, I did develop a love for learning and teaching music history as well as having the opportunity to nurture students over the period of the 7 yrs I taught. And it is the reason I have been able to have the post secondary education I do. For that I am eternally grateful.

The deal I made with myself and D regarding the quick mortgage payoff, was that I would do my best to use our pooled financial resources to achieve this goal. We first decided that it would be a worthy goal to achieve. That if I got too carried away (ie. too frugal or depriving), he would do his best to rein me in. (There wasn't a worry on his end). And I identified which years due to various circumstances would be tougher than others and why (mainly due to ambitious savings goals).

2009 was our most difficult year. It was the year where we needed to put in place emergency funds for all our properties and cars ($20000) alongside the prepayments ($23000). We cancelled a number to trips in order to reach our goals. I leaned heavily on this blog and all of you out there for support. Looking back, it wasn't very balanced. I had named this blog deliberately to remind myself to balance...

2010 has been much better. Without needing to put as much money into savings, we had opportunities to dust off some of our personal ambitions. We got to see great new places and D replaced his vehicle. We are still behind in the savings department but I'm not worried as the light at the end of tunnel is getting brighter and I know I would be able to catch up quickly.

2011 will be a hybrid sort of year. If everything falls into place, it will be an epic travel year as well as the final full year of prepayments. That means my income will be mostly savings after that. Originally I though I had half of 2012 ahead of me still. I had forgotten about D's yearly bonus (paid Jan 2012) which we are expecting to be able to pay for the remainder of prepayment needed as well as my 40th birthday trip. All of a sudden my timeline is a year. That is the best Christmas present ever!

Man vs Mother Nature

I've been following the numerous airport delays and closures. It is amazing just how disrupted this holiday travel season has been for many countries in Europe. The scale is mind boggling.

I'm sure many of you have heard the comments on the daily news. Most of the comments are frustrated in nature.

For D and I, should we ever find ourselves in the same predicament, we'd abort the trip altogether. Airlines will offer a refund or the ability to rebook for later.

It is easy for us to make this decision because we are not hung up on "the day". We would just visit another time.

I can understand for some people, there may not be the opportunity to move a holiday. But what can we do when mother nature doesn't behave in a way that coincides with our human plans? We are so small in comparison.

In other news, we are really enjoying the Knowledge Network this year. I've learned a lot from their great programming.

Ungrateful People

It hardly seems possible that I've been off for 5 days already. The journey to get here involved a flight cancellation but we were put up at a really nice hotel courtesy of the airline. I have no complaints but I sure heard a lot of complaints from fellow air passengers.

Having experienced flight cancellations before due to weather, I know that airlines are not obliged to provide anything to you. However, we got food and hotel vouchers.

D and I both agreed that travelling during a major holiday brings one in contact with a lot of people who are not accustomed to travelling. So you end up needing extra time to deal with the sheer volume of people as well as getting through security because inevitably there are still many who do not realize there are liquid and gels restrictions.

One lady stood out because of loudness. I was checking D and I in at the complementary hotel when she (standing beside me) really laid into the fellow at the front desk for no reason. She was livid because she felt the airline didn't do enough for her. I turned and gave her a "what do you have to complain about" look.

The hotel even kept the otherwise closed restaurant open for the 9 of us who were involved in the flight delay. She even complained about how early she would have to get up for the free breakfast the next morning so that she could make it to her flight. Unbelievable.

Meanwhile D has his own rude adventure outside of the hotel by the shuttle that brought us from the airport to the hotel. Our luggage was the first to come off the bus and he witness everyone else just standing there while the really nice van driver climbed into the back of the van to push luggage out. No one came forward to pull their luggage off. They just stood there.

D ended up shuttling luggage out to people and did not hear one word of thanks nor did he witness anyone give the driver a tip. What is going on with people?

Savings & Cash Flow

D has been officially done probation since mid Nov. What that means is he is now allowed to participate in a whole host of savings plans which serve to augment his pension.

We have decided he is going to start with 2 of those -- The pension top up plan and the employee ownership plan. Basically it is taking advantage of the company's free money when you make a contribution.

I am still working on next year's cash flow projections based on my work numbers. To be conservative, I will likely make my income projections slimmer than what I've seen since starting on my own just in case.

The rental income I am getting from renting out my office space has increased our cash flow and should it continue for next year (I don't foresee an issue with this), we will be seeing more disposable income.

D is enthused about the idea of having more fun money whereas I am slightly concerned I will fall off the wagon with my spending. It is far too easy for me to spend money.

Getting Ready

It has been a time of numbers, numbers and more numbers in our household. Cash flow at the end of each year tend to be tighter than usual due to my finishing work early when our regular bills are still the same.

There are an assortment of one time bills due the first of Jan in the tune of a few thousand mostly for my work (I refuse to pay the penalty associated with making a couple of payments instead of one lump sum).

And despite not having more a couple of people to buy for Christmas, the Visa statement always seems more inflated than usual. I'm probably in denial over a few line items.

I have one more busy work day left and my holidays will start. The weekend consisted of some light packing and cleaning. I like coming home to a clean house and most if not all of our ski gear is already out there so we travel pretty light.

We've already done our last minute grocery shop for canned goods to bring out west with us so I can avoid grimacing at the thought of paying $2.95 for a simple can of chicken noodle soup.

The Long View

The last Bank of Canada announcement kept the interest rate the same. I've already put next year's announcement dates in my day timer. I know...nerd!

I am forever amazed at people/couples who are able to take the long view on things. For example, D just toured the kitchen of a couple who finally got it re-vamped after living there for 8 years.

They have lived through one reno after another. It's amazing to watch. Their personalities make it work. That's not to say they haven't had their moments where they wished they had bought a new house but they got their house at a good time, paid a reasonable amount for it and saw the potential.

They also have no intentions of moving which in my mind, automatically makes them good candidates for building wealth.

Projecting myself onto this scene and D and I would likely never have gotten married in the first place much less have an opportunity to get divorced. I have patience for a lot of things but I would not willingly tolerate living in a construction zone for years. Living somewhere else while the construction was going on, OK.

I suppose it would be a more balanced approach to build something together over time. It is easier on cash flow and the budget. A more honest way of living perhaps? Compared to those of us who would buy everything so it can be set from day one?

It's an interesting mental debate because I am one of those who likes to be able to have everything set right off the bat. Because of that I drove myself crazy when we moved into our current house, having landscapers, masons and hvac guys all running around at the same time.

From a budget point of view, because I tend to those tendencies, I make sure I have the money for all that beforehand. So in that sense, we are similar to the couple above. The only difference being our money beforehand has to be a bigger amount so that it can cover all the work at the same time.

Business

I've been really interested in reading about business lately and would recommend a couple of books you may find fascinating.

• What They Teach You At Harvard Business School -- Philip Delves Broughton
• Rigged: The true story of an Ivy league kid who changed the world of oil, from Wall Street to Dubai -- by Ben Mezrich

The amounts of money spoken about in the above books can be staggering. It' s a whole new world for me.

My income and life is small peanuts compared to what goes on in Big Business NYC. It's fun to get a partial glimpse into such a different world.

By the way, just saw the new Harry Potter movie and loved it. Thought it was the most beautifully made of all of them.

Long and Short Planning

The 2011 travel season is shaping up nicely. Not sure if the airlines are hurting or what but the number of good seat sales for next summer and fall are already being offered.

Even I feel pushed with considering something that far away. Needless to say there is always the issue of travel cash flow, locking away monies for long haul flights 8 - 9 months in advance.

D and I have been interviewing individuals and companies for office and home snow removal when when we are away. We've found someone nice who is well experienced in what we need to have done at a reasonable price.

This is my last full week of work. Next week will consist of only a couple of days and my holidays will begin. I have to put effort into keeping my head in the game for just a little while longer.

Mini Wrap Up

Even though we are still the month to go before the new year, I am already thinking about it. You see, I gage the end of the "year" relative to my last working day which is 1 1/2 weeks from now. And we fly out west the next day. So, I've been wrapping up my 2010 spreadsheet and going through what happened financially this year.

Each year I end it by declaring to D that we will not have any huge capital expenses next year and each year there is something. So this year as I am a creature of habit, I shall declare the same thing and hope for the best.

No I don't regret buying my laptop and the pipes at the cottage needed help and part of being a condo owner is that you may be called upon to pay extra levies for capital projects. Of course the biggies were D and I both needing to change our jobs. 2010 has shaped itself into one upheaval kind of year.

On the other hand, I made it to Europe 4 times in 2010, saw some absolutely fantastic places and I'm hoping the momentum of it all will carry me into 2011 to further new adventures as I slowly plug along the mortgage payment road. There has to be something to balance out the boring.

Getting a Deal

Do you ask for discounts? If so under what circumstances? For what services would you not ask for a discount?

For me, I would ask for a discount if I was in the market for a new or used car etc. I would not think to ask for a discount at a restaurant or if I was at the movies. I wouldn't think of it either if I was at my optometrist or massage therapist.

So what would compel some people to ask for discounts for everything? I know how if you don't ask, you won't get but isn't there a limit to that before you come across like someone without much dignity?

If I cannot afford to eat out, I just won't eat out. Same goes for new shoes. I'd just look for a used pair. I wouldn't feel like it was my right to get a facial therefore the spa will have to give me a discount.

What got me going was someone who was randomly sitting beside me waiting for an appointment. They told me they are trying to get some form of disability credit from the government because they would get episode of back pain whereby they cannot walk well.

This person is still able to work full time in a job where they are required to lift things and be on their feet a long time. Not someone who you'd label disabled.

Then they go on about how broke they are but just isn't able to quit smoking. How terrible it was because they found it difficult to put food on the table for their family. And with the 2nd half of the same breath talked about all the expensive sports their kids are into.

Why was it stores that sell sports equipment were not sympathetic to their cause? Why wasn't their therapist able to give them a discount when it was obvious they needed help?

They were called into the appt before me so I watched as they leapt off the chair and walked just fine with the nurse.

I doubt they will qualify for whatever disability credit they are looking for. If they did, so should the rest of us who occasionally get really sore and stiff after a weekend of gardening or snow shovelling.

That's not considered a disability. Nor is an inability to manage money reason for businesses to reward by give discounts.

Crossroads

D and I are at an interesting crossroad with our mortgage prepayments. Once in a while I will run some amortization tables to see if we are on track or ahead of the game.

Today's tables point out something interestingly tempting.

If we stop doing prepayments on our 2 mortgages, when our 5 yr term ends in Sept/2012 and May 2013, our main house will have owing $35535 and the ski condo will owe $2748.

The remaining ski condo balance will be paid off easily at the time without need for renewal. The main house's amount isn't necessarily large enough to renew. It is about the size of a line of credit in my mind which would be an option.

D's preliminary thoughts are to stop prepayments and save the $23100 yearly I put into the main house yearly instead. He feels now that the numbers have shrunk enough, it is a higher opportunity cost to not save our money.

I haven't made up my mind. However, I have made up next year's spreadsheet and am going to think about it for a while. There are still a few weeks left in 2010.

Travel Question

Being that I can be long winded, a reader question turned into a post...

***Question... perhaps a tough one to answer; if you were to go back and visit for an extended period (3-6 weeks) which country would you choose and why? The reason I ask is my wife and I just celebrated our 30th and all 3 countries are considered possibilities. We are also considering an overland trip from Cairo to Turkey which of course would take in several countries but not really allow one to 'soak' up the culture and flavour that spending an extended time in one country would permit.

Your thoughts... ***


Hi I'd rather be sailing;

Depending on the level of adventure and stimulation you want for your trip, you could easily spend all 6 weeks in any of the 3 countries I visited.

The most relaxing experience would be Dubrovnik and the next one would be Fira, Santorini though the rest of the island is much more laid back.

Greece would be interesting because you'd end up taking the ferries or hydrofoils to go from island to island.

From the 2 I saw on this jaunt, they were completely different. I didn't care for Corfu myself but I'm glad I was there. You could easily spend all 6 weeks exploring a handful of islands in Greece and not be bored whereas I find the Caribbean after a while, it becomes yet "another paradise island" with beautiful beaches. (no offence meant to Caribbean readers -- you folks have it good!)

In Croatia, it would be train travel to take you all over and from what I hear, the food is quite different depending on the area.

The island of Brac (off Split) is supposed to be gorgeous. D has a friend who is Croatian had recommended it. I never made it up that far on this trip but I would like to another time.

I can imagine finding it really easy to pass time in this country. The people I met were very gentle and not at all impressed that you are a visitor, meaning they don't stare at you because you are obviously so different. In the old town, the restaurants hosts were more vocal trying to get you to eat at their respective spots -- all harmless self promotion.

Turkey was the most "in your face" of all three countries I visited. I haven't written off Istanbul and will be better prepared when I go.

My best memory were the prayer calls. They were so peaceful sounding -- much contrast compared to the day to day market culture. I know I would have toughened up had I spend more time there. I guess I wasn't ready for the level of confrontation, that's all. I didn't at any time feel unsafe nor was I ever pushed or shoved.

If you are into history and ruins, Turkey is a great destination. I had a chance to got to Ephesus. If you happen to love Turkish food like me, you'd be in for a treat.

Turkey is a big country and I think 6 weeks would just barely scratch the surface. I would not call what I saw of this country relaxing though compared to the 2 above.

If you wanted a real adventure where you are on your guard and stimulated, then I would choose Egypt and Turkey.

If you wanted a bit of both, then add in one of the other 2 countries (whichever you could get to logistically easier or whether you like plane, train or ferry) and it would provide some balance and r & r.

What I would choose would depend on my mood. If D was coming with me, I would pick Dubrovnik and Santorini because of their sheer beauty and feel. Both places have a romantic feel. If I was going alone, I would chose Egypt and Turkey and make sure I learned the languages, get a chance to sail down the Nile and take a camel ride through the desert.

I am envious you are taking such a great amount of time. Congratulations on your 30th!

Continued Planning

I didn't have the jetlagged exhaustion for very long after this last trip. I believe it to be because the trip was so restful outside of the getting lost and Turkish bazaar part.

I have been busy trip planning since my return as D informed me when he picked me up at the airport that KLM had a 4 day sale. We have been looking for reasonable flights for next spring when we will be in Amsterdam.

Amsterdam wasn't on the sale list but I got the idea of going somewhere else before AMS so started playing around with their multi destination searches. I lucked out because we are able to fly to Rome and then AMS and home for $300 less than a flight to AMS and back.

Why? I have no idea other than to guess they are considering the jaunt to AMS as a free stopever as it was the flight to Rome that was part of the 4 day sale. Something for everyone out there to consider next time you are trip planning.

So the trip has morphed into Rome for 3 nights, then AMS for a week after. We could have stayed a week in Rome but D will just be coming home from his annual guys ski trip which incidentally is going to cost not too far from our European trip. Whistler is not known to be cheap.

I made contact with a nice appt owner in Rome as I was going to go for a week but in the end we decided to stay in the hotel I stayed at my first time in Rome for old times sake and make our short stay a true city break.

Plus I found out I had enough points after my last trip for a plane ticket anywhere in North America... Which has meant, I've been looking for a warm winter getaway. So that's what I've been working on outside of actually working since getting back.

Incidentally, I finished my ahem, "novel". It clocks in at 50130 words and I've been having a heck of a time getting the site to come up since yesterday so I can upload it. There are probably thousands of people who are trying to do the same thing right now. We have til next Tues.



***update*** It has been uploaded and I have officially met the challenge. (FYI, all participants who made it to the 50000 words are considered "winners". My writing didn't really win anything.)

An Internet Entrepreneur

I had a somewhat heated discussion the other day regarding the differences between wealth and cash flow. The person I was speaking to was convinced that high cash flow and having cash coming in from multi sources was wealth. I disagreed.

I said that wealth is something that is built. If you put aside some of the monies coming in, you'd be building wealth because you'd have something to show for it. Otherwise spending everything doesn't build wealth, it just means you have lots of money to spend.

One's ability to make money isn't really an asset because you cannot cash yourself in. You can chose to keep producing by working thus making an income or a business which would be considered a tangible asset.

This fellow I was talking to is 39 years old and does not have a penny saved but is extremely motivated to create multiple income sources. I pointed out that having a base income that can be relied upon can be a valuable thing while other business developments are being created.

He disagreed because he is needing ALL of his income from his primary job in order to pursue said opportunities. He is even going to cut back on his primary job in order to spend more time with the businesses he feels more passionate about.

I didn't think that was wise as none of the new businesses are even close to breaking even and cannot be counted upon right now to even pay a utility bill. I told him I would not jeopardise the main income at this point until the others start showing some sort of longer term success.

So I was labeled a non risk taker, which is fine. All I know is that each work day allows me to build wealth and it has already been proven successful. I can show those results numerically. I'm not as concerned about how much I make, rather how much I am able to keep while living an interesting life.

He cannot show me anything other than some minor success and a whole lot of monthly expenses after 3 years of being an "Internet entrepreneur". He has not attained even 20% of his expenses back yet but still continues to spend in hopes of hitting the big time, the day where he manages to tweak the magic Internet formula whereby the world will discover him.

That is why he isn't concerned in the least with having no savings because when he hits it big, he'll be able to catch up so fast, the monies he has spent would be a drop in the bucket compared to what is coming in. (I've seen his product and it isn't anything I would spend money on personally)

He didn't believe in building wealth the old fashioned way (ie. like what I'm doing). He feels that I am not making my money work for me. That I've missed out on so many opportunities by being so conservative. If he had access to my money, he'd know exactly what to do with it...

I wished him well as this is obviously the path he has chosen to pursue. He has big plans for the next couple of years. I told him I did too. Maybe we'll meet up then and compare notes.

Some Trip Photos

First 3 pictures are from Santorini. The switch back road you see is what my Donkey and I traversed to get to the top.

Last 3 pictures from Dubrovnik. Hoping you'll be able to appreciate the steepness of the north part of the Old Town.

Should you find yourself in these areas, I would recommend the Dubravka and Zafora restaurants respectively. Great food and ambiance!

Great Trip!

My trip was fantastic. I didn't fall off my donkey in Santorini but I did get "chased" out of the grand bazaar in Turkey by forceful salesmen. You literally cannot even browse without getting somewhat harassed.

I had to remind myself it is cultural differences, that's all. They would do well to understand a bit more about other cultures as allowing people to browse would generate more sales...

Dubrovnik was a surprise. It had such a gentle, laid back feeling. If you've seen the last James Bond movie and remember when the camera spanned across Montenegro, that's what the coast looked like.

I managed to eat at some great restaurants with great views. My lunch in Dubrovnik was extra special as I go lost trying to get to the old town and what was supposed to be a 1/2 walk took me 2hrs.

As the medieval old town was surrounding by a wall, you cannot just walk into it wherever you felt like and man were some of the stairs steep. I'll post a picture once I get them sorted. I can imagine how daunting it would be for soldiers who had to fight or climb their way in.

Contrast of Importance

Being the ever practical person at times, I already have my one must buy Christmas present purchased and I will be handing it over tonight not to be opened until they wish of course.

As it is really breakable and with my schedule being crazy the next month, I didn't want to lug it to our annual Christmas dinner out in Dec.

Because my friend knows I do not place any emphasis on the commercial side of Christmas anymore nor am into the stresses the holiday seem to bring out, she'll chuckle at me and understand.

******************************************************************************

I'm glad my work day doesn't start til the afternoon because I will be able to reflect on Remembrance Day Tomorrow morning. I am at the age of what parents whose sons went off to the war would have been. I cannot imagine the stresses and sorrow many of them went through.

Many of us are free to do whatever we'd like because of the sacrifices of our veterans. One of the most emotional points I've had in a museum occurred at the National War Museum in Ottawa. I would highly recommend it. We were there on a day where one of the veterans from WWII was present. I couldn't really talk to him because I was so emotional.

We had just come through the trenches and emerged into an area showing how it would have felt like for a veteran to come home to a modern (for the times), freshly done home. The contrasting silence just screamed at you. I know I'm not doing justice with the description so go and see it for yourself.

Bit of Trouble

Took a quick listen on Livemocha of some basic Croatian, Turkish and Greek and quickly realized I am in trouble. I'll be happy if I can remember hello, thank you, goodbye and how much?

I was fiddling around with changing my seats on my flight and managed to lose my seat completely and could not get it back. Great. Called the travel agent as I used points for this flight and was assured I didn't lose my seat but I'm not convinced.

She also told me I shouldn't be able to pull up stuff like that on a code share flight but I can...I'll have wait until check in to see if I've done any permanent damage.

In the fog that was jet lag a week ago, I made another mistake with my work deposit so I'll be dinged a couple of dollars in penalty fees. Not impressed with myself. I have D double check my counting now.

There appears to be a slow snow season out west so far this year. Last year our resort had quite a bit of snow. Opening day is supposed to be Dec 4th. We were talking about what we'd do if there weren't enough snow by Christmas. Would we still go out?

I'd like to but D would prefer to hold out til the new year. We'll just wait and see. Mid Dec will be here before we know it.

Happy Days

Never once in France have we seen anyone at a cafe using a laptop. At home, that seems to be all we see. People aren't people watching like they do in Europe. They are busy using the WIFI at their local coffee shop. It's kinda sad really, peoples' heads are down rather than up.

The last day we were in Nice, we witnessed a wedding in the courtyard below our apartment. The pictures don't do justice to the beauty of the flowers on the really nice car waiting outside of the old church. It's interesting that the guests dress in dark colours. Lots of rice was thrown.

Goals & Glitches

Neat Stat -- just short of 2 years ago, our total mortgage debt (for both places) was $190353. Today, it is $99454. In 2 years we are hoping/expecting it will be close enough to $0.

On days when I wonder if my math is accurate, it is nice to see big pictures numbers from where we've been to help assure we are heading along an accurate path.

The novel (I use the term loosely here) writing is coming along. As I have and will be missing time due to vacations, I started earlier to make up for it. Current word count in the low 20000s. Goal is 50000.

Two and a half weeks really isn't a long time. When I booked this whirlwind trip to Greece and Turkey I thought that 2 works weeks after coming home from France was alright.

Now that I am finishing week 1, I do feel rushed thinking of what I have to do next week before I leave again. I think next time, I'll give myself a month between trips.

I may have encountered another technology glitch with my phone as I think I am missing 7 voice messages.

I will be calling today to find out whether there was a glitch in the system while we were away or voice message unretrieved will get automatically deleted? I wouldn't think so but I'm going to ask anyway.

No Go

No go on Sweden. Didn't receive a response from the owner of the apartment I would like in time to take advantage of the seat sale. Maybe something else neat will come up.

I'd like to go to London as well. We connected via Heathrow on route to France so I have a bunch of change in pounds sterling left which beckons me to return for a proper trip to England.

D knows of a couple who works for 4 -5 years in a highly technical field making decent amounts of money and then sells everything. They take off and spend a year abroad living in different countries.

The idea intrigues me. What a way to combat attachment in your life. I love it. I think I'd be a good candidate for it. D wouldn't be I think because he likes his stuff and he likes to have a home base. Renting out the main house for a year would be more his style.

The perennial subject of selling the cottage came up again while we were away. I think it is time to let go so that the next cool thing will have room to come in. D would like to keep it for a couple more years.

We have agreed that should I wish to list it on the market in the spring, he would not interfere. Second, he will head up while I'm away next to finish up all the odds and sods so as to be show ready for next year.

3 am

It is the 2nd day in a row I've awoken at around 3 am ready to go. Gotta love the time zone changes. Not sure our time change this weekend will help or not. I'm expecting to be fully integrated back by then.

I've gotten to the point where I can forgo sleep on an eastbound transatlantic flight and be pretty functional on arrival. I never sleep on the way home as I look forward to watching 3 in flight movies.

Plane food is hit or miss for me. We've gotten into the habit of eating before we get on a long flight and either forgoing the meal or just taking the dessert. Beats starving because of a particularly bad meal.

I'm tempted this morning because of a 2 day Lufthansa sale. The destination? Stockholm, for my birthday. Lucky for me it is only for 2 days so I'll have minimum time to stew on it.

My first day of work went smoothly with just a minor fluctuation of energy level. I was quite proud of myself for pulling it off well. The rest of the week will get easier. And no, I didn't buckle when I got extra requests beyond my maximum for the day. Small victories!

New Way to Work?

Back to work for me today. France was as great as we remembered. We chose to stay at the different location (Old Town) in Nice this time as the apartment in the area we usually stay in (Port) was unavailable.

As neat as it was being amongst all the old buildings (I guess technically they are all really old) it was much noisier than we were used to. After a couple of days, the novelty wears off and the music and young people singing started to get on our nerves.

Despite that, we were really happy to be back and away from work for a small while.

I'm reminded of the concept of enough whenever I go to France. Store keepers for example will sell all they have made that morning (I'm specifically thinking of the lady who I go to for fresh pasta, stew etc) and call it a day.

It is an adventure wondering what we are going to eat each day as there are no hours posted at our favourite butcher. Coming from North America we are used to "service at convenient hours" and lots of choice.

We have concluded shop keepers do close whenever they feel like it and do not feel obligated to tell anyone. Gives us an excuse to try another restaurant for lunch or dinner.

I am working on applying some of this thinking to my business as I know how much business I need to do each week to sustain my life well. Before I left for vacation, I already knew I was there for this week.

So the question is, do I stick to my guns and not add anymore appointments or do I try and do as much as I can? We'll see if I'm strong enough this week to resist.