in Stock Market

Another correction in the markets is coming down the pipes, which means more fun and excitement in the financial world. The Canadian dollar drop almost 2 cents on weakening commodity prices, and severe flooding is being predicted here in Ottawa. Now that I have got out all that good news…

Cruise Control Finances

A while back I theorized about how I could put my personal finances (specifically bill paying and debt payment) on cruise control and then not have to worry as much as I do about things. Last week I didn’t have time to keep track of things, being out of the country and now I am thinking I should have figured out a way to keep my “eye on the ball”, as it were.

All my bills are getting paid and such, but I seem to have a need to continuously watch my financial standing to reassure myself that I am not completely “financially out of control”. My theory is simple(r) than most:

  • List all my known monthly bills:
    • Electricity
    • Natural gas
    • Telephone(s)
    • Internet Access
    • etc.,
  • Take each bill and divide by 2
  • Ensure each and every bill is payable on line (I have a small issue, because my electricity bill is a direct withdrawal on a specific date).
  • Every pay day, make that 1/2 payment on each of these fixed bills.

By doing this I normalize the cost of these monthly bills across all of my pay cheques. I also end up getting ahead of things, because by the time the end of the year rolls around, I may well be a month ahead on these bills and I might be able to take a month’s vacation from those bills, or I could fine tune my payments so that I divide my yearly bill by 25.5 and make that size payment instead?

Either way it’s a different way to deal with monthly bill payments, and might make my financial worrying less severe? (yes, Prozac would do the same I guess).

Have a Happy Easter and enjoy the long weekend.

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