Day 65: Money - Do Yourself A Favour

by Sarah Devika Sumnauth

Put your hands up in the air party people! It's pay day and I gotta say, yay!

With the influx of money comes the ability to look at all of my options with renewed vitality. I can start to plan more effectively because now I know how much is coming in.  But I’ll be the first to admit that I have had my fair share of money troubles and those are not just going to melt away now that I have more than before. 

Money is tricky for a lot of us. I know my biggest issues are spending too much of it when I have it and then wanting to kick myself when I don’t. So today I want to look around for more strategic approaches to manage my dollars. I can’t say that I know exactly what that strategy will look like, but at this point my intention is to save and spend wisely. 

Intention is really just making a goal and thinking through all the steps to get to that goal. So my first task on deck is to sit down with myself and decide what is going to make me sink or swim.    I want to write out some money goals that make the most sense for the remainder of the year and then plan for what I need to see happen in the new year.  Let’s not forget that Urban Minerals has a firm launch date of June 21st, 2013 and that means the clock is already ticking down the hours until that moment…

Even though I have made smart choices ie. Opening my RRSP and a TFSA, as well as a Simply Save program (every dollar I spend is translated into $3.88 of saved money into my savings account - I know, random number), I still always feel like somehow I’m doing it wrong. And maybe it’s because like so many of you, my parents never really had an open, frank discussion about money and personal finances, and high school comes no where close to preparing you for “the real world” so you end up feeling like a boat with no anchor or a ship with no captain. 

So, all things considered, I would like to change how I feel about my money. It is mine after all, so I get to be the one to make the big decisions. I think I may approach my bank for some financial counseling (never a bad place to start) and then talk myself down from every shiny pretty thing I want to buy (unless it’s minerals) so that I can feel more like a cruise liner rather than a dinghy. 

So here’s to a fresh day of newly minted money management plans. I intend to only do my future self a favour.