Financial March Madness, Changing Frugal Lifestyles and #Moneytalk

in Best of, Random Thoughts

March Madness is in high gear with the Elite 8 going on this weekend. As usual my bracket cannot win even though I still have 4 possible victors in the final four. My ability to prognosticate is pretty bad.

Gas prices are rocketing up in Ottawa, which suggests Inflation (or at least a higher CPI) is coming very soon. With the Carbon Tax there is talk of gas in Ottawa being $1.40 this summer. Maybe it is time to start looking at the Tesla again. We might all need to get a more frugal lifestyle, and soon.

With Brexit causing the UK no end of despair and confusion, this could be a very interesting summer financially. I don’t pretend to understand it all, but it does seem to be a “no win” scenario.

Remember that it is Tax Season, time to get all your documentation and get your return in to the CRA. If you owe money, you don’t have to pay until the deadline and if you are owed money, the sooner you get that money back, the better. Be patient if you call, wait times can be long this time of year.

Recent Articles

I am slowly getting back into the swing of things, but life is still quite interesting for me these days. 3 Ways To Pull Off This Season’s Coolest Financial Trend was really just a bit of click-bait. I really hate to think this is how folks are finding out information, but unfortunately click-bait continues to rule.

RDSP : A Really Long-Term Savings Plan points out with an actual example how big the penalties are for RDSP early withdrawals. I do have a few other examples of how the RDSP system works, so stay tuned.

I’d like to thank the Liberals for this easy tap-in story, RDSP and Budget 2019. They were kind enough to put in a clarification and a change of rules in their latest budget. I still haven’t got a definitive statement that this is now the law of the land, but we shall see.

Troubling and True

Kerry from Squawkfox has a very good point with this answer to a Tweet. Literacy is very important, but sometimes life serves up a big feces sandwich.

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Spending Habits

Interesting that two of my favorite reads had articles on spending habits in retirement. It is interesting to see life-time savers and frugal folk suddenly realize they have to change a habit they have had their whole life.B

  • Michael James (who surprisingly is not the most frugal person in his family) brings us Compensating for Your Money Personality. The word cheap could be used to describe someone as frugal as MJ and his wife, but that is not the right word. I think the word I’d use is driven, which explains things much better.
  • 2nd Career Search has returned from a stay in Florida, and he also writes on the same subject. Saver to Spender Transition explains how he and his wife had to learn to “loosen the purse strings”. If you don’t understand this, think of the chronic overspenders you know, and how hard it would be for them to become frugal.
  • Hoyes Michalos has made a documentary about Millennials & Debt – No Room to Maneuver. I am concerned about the life my children will be able to lead, and this does not help me sleep any better.
  • The Blunt Bean Counter gets into the spirit of Tax Season with The Top Tax Tips for Students. If you don’t take tax tips from an accountant, who should you take advice from?
  • Should you invest in pot stocks? How do you invest in the cannabis sector? That is a good question, my guess is I might enjoy some of the fruits of this new magic herb, but I doubt that I might invest in it directly.

The spring is coming, but slowly in Ottawa, but our friends from the UK might not believe it.

Our friends from the UK may not enjoy the Ottawa Spring

A Worrisome Tweet

Bankruptcy is a Growing Business

The 2019 Random Thoughts

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