The Disadvantage Of Using Your Debit Card

The Disadvantage Of Using Your Debit Card

The main drawback of using a debit card is that it mimics a credit card in 2 ways.

  1. You’re not really aware of how much money you are debiting and how often you are using your debit card.

If your goal is to control spending, debit is not the way to go.

A great way to stay on plan when shopping is to use the envelope method. You place the amount of money you have allocated (e.g. for groceries) in an envelope. This method can and should be used for entertainment cost or pocket money as well. Leave the debit card in your wallet. You shop from the envelope and when the money is gone, or nearly gone, you will know for sure since the envelope will be lighter. That sends a very clear message about your spending, and how much you have left to spend. That’s when you’ll have the ah-ha moment.

  1. Using debit also increases bank fees, and if you do not have a service plan that allows for unlimited transactions, that cost can increase dramatically.

Debit cards are great, but if at the end of the month you cannot account for some of your cash, check your account and see how many times you have used your debit card in that month.

A tip on managing your money successfully.


New Cost of Living Increases for 2017

Here they are folks; hold on to your money.

2017 comes roaring in with a vast amount of increases. These increases are in every area of our life, and each and everyone will hit us in the wallets, where it hurts the most.

I am here to help you navigate through 2017 with positive financial results.

In order to get where you plan to be financially throughout 2017 you have to follow a plan. Just like going on a trip. You need a navigator. Especially since you are getting into unchartered waters.

I will remind you of what the major increases coming your way this year, and I am here to help you navigate through them. I am your financial GPS.

First let’s look at the list of items going up.

  1. The cost of fueling up or vehicles.
  2. The cost of electricity.
  3. The cost of heating our homes.
  4. The cost of feeding our families.
  5. The cost of public transportation.

Well the big five. What can we do to help us come out on the positive side of these life-changing situations? I will discuss each item with tips to help you move forward in a confident manner.

The cost of fueling up or vehicles

  • Make sure the tires on the vehicles are properly inflated according to the manufacturer’s recommendation.
  • Keep up all service recommended by your mechanic.
  • Change your oil and filters when needed.
  • Avoid driving when walking is within normal limits.

The cost of electricity

  • Look for sales on energy saving light bulbs and take advantage of opportunities to replace your bulbs with low energy ones.
  • Turn off the lights and TV when not in the room.
  • Cook meals for at least two days when using electricity before 7pm or after 7am.
  • Do laundry on weekends or after 7pm in the evenings.

The cost of heating our homes 

  • Lower the thermostat by 2 points, by 3 points when no one is home.
  • Wear warmer clothing when at home. Like track suits and socks.
  • Make sure you are not losing heat through windows and doors left open for long periods at a time.
  • Replace your furnace filters regularly.
  • Lower the heating cycle on your hot water heater.

The cost of feeding our families

  • Check the pantry I mean all your pantries. Like the places you put the extra toilet paper, pasta, rice and flour.
  • Open the kitchen cupboard; make a list of the items in your cupboard.
  • The fridge, checks it out, what do you have in there. Can it be used?
  • The freezer; how much meat is in there? Chicken, Pork, Beef and Seafood.
  • Make a list of the items on hand.
  • Use them before purchasing anything new.
  • Watch your vegetable purchases. Do you like kale; because someone said it’s good for you is not a good enough reason to buy it. You must eat it.
  • Only purchase items you will consume.

Public transportation 

What can we do about it? If you have to use it you must pay. Make sure you are using it to your advantage.

  • Do your math, is it better to purchase a monthly pass?
  • Is it better financial sense to purchase a weekly pass, if you do not use public transportation on weekends? Work the cost out and choose the one that suits your needs.

These are a few tips to help you navigate through 2017. I trust that you find them helpful, or at the very least trigger you to make some changes to keep more of your income.


















The Girl Who Came Crying Because of Financial Fear And Left Crying with Financial Joy

The changes in this young lady came very quickly. So quickly that I asked her to share with others what happened to her at her very first meeting.

What occurred with her is evident that it is sometimes necessary to seek some help and advice if you feel you r finances are not where it should be. In finance, the saying that “you are too close to the forest to see the trees” is so true. This was her case.

During her first visit I immediately recognized her fear and took the time to explain that her finances are great and just needed some tweaking. She naturally had to come to grips with the knowledge that by owning her own home some changes in her habits would be necessary.

This young lady has done all the right things to enable her to have financial success in her future.

Here is part of her journey in her own words.

I was never one to think much of money. You either have it or you don’t. It’s there to buy useful or pretty things but not much else worthwhile until the day I bought a condo. My financial situation was thrown for a loop with the additional expenses and I felt lost trying to navigate through it. I wanted to see where my money was going and needed some direction so a friend passed along Tessa – Marie’s number.

I cannot put into words how nervous I felt before that first meeting. All my emotions building inside of me that when I finally tried to talk I burst into tears trying to explain how I had got to where I was. After speaking with Tessa-Marie I cried again, not with sadness but of hope. A hope I had not felt for a long time. She had validated my thoughts and feelings and didn’t put me down but instead showed me the possibilities. I had to laugh when after looking over my information she asked “why are you here?” as I had put so much pressure on myself. After I left that first meeting I was practically skipping down the sidewalk feeling as though I had begun to take ownership of my financial future and excited to put into practice the tools I had been given. She had told me at our next meeting I was the girl who came and left crying.

My peers had begun noticing a change in me excitedly talking about money and I was eager to pass along my favourite strategies such as making a list of all the foods I already owned then creating a grocery list before shopping to avoid duplicate or spontaneous purchases. Opening up several savings accounts, each for an intended purpose such as vacation and emergency funds added in small amounts monthly to ensure I literally had money in the bank if something should come up. I loved the idea of accountable spending with the thought before I spent any money that dollar would put me another dollar in debt and did I want that.

This new advice was like a window being opened and I was finally able to breathe in fresh air. You have to be ready and open to hear the advice someone is giving to be able to whole heartedly listen and take what you learn and put it into action. I am ready and looking forward to a positive financial future filled with only happy tears.