Dealing with finances during COVID-19

It's been over two months since the self-isolation policies have commenced here in my city and I don't see these policies changing anytime soon.

So many families and friends have been impacted financially by this unprecedented time in our history. No one could foresee
this happening, but now that we're here, in the midst of it, how do deal with the rent or mortgage that's due, how do we deal with that credit card bill or the fact that we still need to buy gas to drive to and from work or the grocery store on a regular basis.

I have actually had a few messages and emails about this type of question from friends over the last few weeks since they know Chris and I are avid budgeters and actively try our best to plan our spending as much as possible.

Listen, even we have been affected by this, probably a little bit differently than all of you, but we are definitely thrown for a loop and are still reeling a bit from the impact on our finances.

The best advice I can offer you is to take care of your four walls first. What does that mean? What that means is as best you can with the income you do have available make sure to pay your mortgage or rent, have your utilities paid so that you still have lights and electricity for cooking and daily use available and enough money for food and gas. Those are your "four walls". If you can take care of those things, you are doing better than some people out there.

Also, now is the time to use that emergency fund, if you have one. This is an emergency! If your income is unsteady than definitely think about how to supplement that income even if you've been temporarily laid off or had your hours cut back. Also, if our government is offering money through the CERB, student program, or any other options that are available then take that money and use it wisely.

The one thing I'd caution you about any government money is you may have to one day pay that back. Be aware of that. Be aware you'll have to claim this as income on your taxes next year and if you're able to, put aside 1/4 of that "income" aside now for taxes. Governments, no matter what country, never just give out free money without expecting its citizens to pay for that money in some way down the line. Expect that, accept it, and make a good financial decision about what to do with that money with that in mind.

Chris and I are in a bit of a different position. My income is steady and never changing. Since that is the case, I don't qualify for any government help or support. Chris, on the other hand, is currently a student and was able to claim some support through their student program. We are using part of those funds to pay for some extra food and supplies we have bought in the last two months.

Since we still don't own a car, we had to buy all food and supplies through grocery delivery apps and amazon. Sometimes that means paying more than we would normally pay for things, or having to buy a few things in bulk order now and spacing those supplies out over the next coming weeks or months. This has made our current budget explode in the grocery/household line of expenses.

Thankfully it looks like July and August will be quieter months with less online shopping needed, but it took us a bit to get there. (It didn't help that we had groceries delivered to the wrong house and stolen, groceries that took four weeks to deliver, etc.)

If, after you've taken care of your "four walls" and you still have money left over, make sure to pay the minimum balances owed on other bills. Covering at least the minimum will keep companies from calling you and yes, they will still call even during the pandemic. Remember, they are a business, too and even though they're not a local mom and pop business, they require an income to keep going as well.

Sometimes, you are able to negotiate a smaller amount to pay them and you can try that and discuss it with them, but don't do ask for that kind of help after they've called and hounded you for the minimum payment. Make that call before the bill is due and ask if it's possible to pay less that month or for a few months. It doesn't hurt to ask!

The last piece of advice I'll offer to you is, if you can afford to save for an emergency fund and you don't currently have one, do it! Saving a small emergency fund (minimum $1,000) will help you in a time of crisis, like this one. Chris and I have an emergency fund but haven't needed to touch it during the pandemic. We are saving it just in case my hearing aid dies, or he needs to have an emergency dental surgery done -- something drastic, in other words.

We are keeping steady during this time and we hope you are as well. If you need any encouragement, help or prayer about your finances during the pandemic feel free to reach out and message me. I'm more than happy to sit down with you and talk, vent or even cry. This is not an easy time, but it's going to be okay -- even your financial situation will be okay again one day, I promise.

Fantasy cruising.... try it sometime!

Chris and I sat back, closed our eyes and did a little fantasy vacation right from home yesterday. We talked about our cruise we want to take one day.... It was a wonderful moment of focusing on our goal and seeing how we will achieve it one day.

Unfortunately, right around Thanksgiving Revenu Quebec called and wanted money for a payment of debt from the time Chris lived there LONG before he even knew me. 

We used my Line of Credit, paid them and now we’re stopping all other savings (including for the car... cry...) until this is paid off.

Grrrrr.....

So, yes, we were fantasizing about our vacation..... I want a room with a veranda and enough pocket money to enjoy myself a little.... 

Oh, I cannot wait! 

In the meantime, I’m recovering from hysterectomy surgery and a terrible cold I picked up from somewhere. I’m going a little crazy with all the resting (and coughing) I’m doing but at least the healing process is going well.

Right now, we’ve estimated we’ll have the debt paid off by August. (Happy Anniversary to us!) But I’m praying that it’s much sooner. We shall see...

Chris and I refuse to let this little set back keep us down. I find it ridiculous that we had to pay anything but fine. It’s done... Now it’s time to buckle down, have a tighter budget again and kick this debt’s butt!

Shelftember

We have survived the summer months and enjoyed eating out a few times and such but now that September is here it's time to buckle down and eat more from our own fridge, freezer and pantry stash.

Yup, we're only spending $50 on groceries this month for milk and fresh fruit in order to dig through our freezer and see what tonight's surprise dinner will be! Chris is quite good at cooking this way and so I have no worries about starving to death as autumn begins.

Tonight's dinner will be chicken kebabs with rice and a spring roll. Mmmm! Sounds delicious to me! I always love his rice... He throws in a little salsa with some spices and it tastes great! I find it wakes up my tastes buds a little more than simply soya sauce over white rice.

So, when I heard Sister Page was doing her Shelftember month as school was beginning for her kiddos I just had to jump on board as well. Honestly, it's something we'd had planned months ago and it's just an awesome way to kick start a new season and a new focus for the end of the year. (Here's Sister Jordan Page's website -- chalk full of great ideas for budgeting and productivity! Fun, Cheap or Free)

This is such an important month for us as some major changes may be in the works soon. This means we'll be saving a little more money as we make focused purchases that will not break our budget -- or our stride forward to follow our dream.

So, does the idea of Shelftember -- eating from your stock at home -- scare you? Think about doing it for a half a month, just 15 days if a whole month overwhelms you. You can do this! If cooking for yourself or family just sounds exhausting at the end of your workday, cook multiple meals over the weekend for the next week and then all you need to do is pull it out of the fridge or freezer and heat it up.

Having a reason, a goal, a dream that's bigger than this week or this month -- something for a brighter future will inspire you to keep pushing the envelope towards saving more than spending.

Our dream? Well... we might be buying a house soon.... *grins*

Staying in the black!

So, since June, and our debt has been paid off. We've made a few improvements to our daily lives. Just a few a little things that I knew would happen once we became debt-free.

1. New bras! Yup, I'm getting down to the serious stuff first! It's been probably about 10 years since I bought a new bra. Well, now I have a few new ones! Whoo-hoo!
2. New underwear, too! Although it's been much more recently that new underwear was
purchased it was still time for a new set again!
3. I bought an iPad for myself and let me tell you, I LOVE IT! I've been wanting an iPad for about 5 years or so...maybe longer... It's my new baby... So much easier and quicker to do what I need to do online.
4. New TV for Chris! Yay for Chris! (and cable) He's a happy guy, and he does so much for us so I did buy him a TV for Father's Day.

5. A new set of pots and pans. There were needed and significantly reduced for a sale price. (Yes, I'm still a budgeter so I couldn't buy them without a sale!)
6. New recliner for me. Mine is literally starting to fall apart. One whole side of it is loose and we can't tighten it any further. It's being replaced this weekend.
7. New coffee table, side table and console table. All bought on a yard sale type site for a really reduced price and the guy was able to deliver the items. To counter the purchased we are in the midst of selling the furniture the new pieces have replaced. So, although we won't quite break even, it's pretty close.

Everything has been paid for with cash and we're very much in the black. We just need to replace things that were completely worn out and the TV and the iPad were little extra bonuses. We don't regret this one bit and we're pretty much not spending money on major purchases again for another year or two at least so...

The next big purchase will be the car, which we've already started to save for. In about a year or so we'll have some wheels! I'm so excited!

Paying cash or using what money we already have in our accounts has changed on lives for the better! I recommend this whole-heartedly! Any chance you get to avoid using credit DO IT! Be willing to sacrifice, save and build your own personal wealth! It'll feel sooo much better!

We still may not be where we want to be, but we've definitely made some amazing strides forward. Now, the goal of a vehicle is more obtainable and we're still debating a little bit about how to go about that, but in the meantime, we're saving up our money and trying our best to meet our financial "stay in the black!" goals every month.

A big purchase...almost!

We almost bought our condo. Yup, we just moved in here less than six months ago and we have been happily renting our unit from some great landlords, but then one day the phone rang...

Our Landlords were thinking about buying another unit in the building, a unit that was on a higher floor (ironically the unit right below my best friend who lives in the building as well). Well, we were given the option of either buying our current unit from them or moving in and renting the new unit once it was fixed up.

The thing was the new unit needed a huge amount of work done to it. It was completely trashed and smelling of urine. An older couple had lived there for many years and nothing had ever been maintained or upgraded within the unit.

When they told me the news over the telephone, I was stunned. I never thought this was possible and certainly not five and a half months after moved in!

We prayed about it, talked endlessly and eventually decided to contact our local branch location to see what option we may have. Unfortunately, the representative at the bank was rude, pushy and didn't have a clue what an "annuity" was nor how they operate.

Chris just happened to mention to our accountant what we were looking into and she mentioned that their company also has a mortgage brokerage component to the business and yes, of course, they knew more about my finances than anyone on the planet -- other than myself!

We ran the numbers and it all looked great! Actually, better than I thought it would. Yay!

Then, the bad news: Our landlords didn't get the higher floor condo! Another offer was accepted! Boo! So the money we had begun to save for closing costs will be saved for another purchase.

For now, we will continue to rent since we're still in our lease until November, technically. But if another option to buy comes up they'll let us know. Otherwise, we plan to buy in the near future within the building.

I gotta say, going through the process actually did me good. It made me realize that had we had this kind of opportunity two years ago, Chris and I would've failed miserably wanting to buy but being financially unable to. When all this came about we were still in debt, but just at the end of it (and we had no idea, literally four days later we'd be debt-free). This debt-free sprint we've been on has been worth it. It gives us the option to buy and buy soon if we so choose to.

It's amazing the opportunities The Lord continues to provide for us. So, even though we didn't get to buy this wonderful two-bedroom, two bath 1153 square foot condo that we've fallen in love with, we've learned a lot about ourselves in this process of number-crunching. All that hard work for 25 months, has paid off. The future looks bright and we have so many options!

Chris loves this building, the location and the condo itself. His more married to this place than even I am. (I still get nostalgic and want an actual house with a yard every other week!)

I must say though, if I had to live in a condo (which is more practical for us long-term) this would be the one I'd want to live in. I even get a little craft/office corner in the solarium.

Thankfully, every unit in this building is the same type of layout so it's not like we're completely out of luck for our future.

Thanks be to God for how far we've come and how far we still have to go. Every trial and tribulation in this life is for our benefit.

Debt Paid off before Forty!!!

Chris keeps calling me "Mrs Debt-Free" and kissing me afterwards every single time. It's the cutest thing!

Over the weekend, something completely unexpected happened. We received a tax return in my name. Uhm..... what??? This was NOT supposed to happen.

Our accountant for the last two years has told us how much our taxes will now be with the annuity renegotiated since May 2016. We have planned for that amount in taxes every year and now we have a tax return... Yeah... completely unexpected!

We think this is Heavenly Father at work because we were set to pay off debt much later than this. We thought our debt was more and that it wouldn't be paid off until February. Well, the numbers were wrong and here we are! Debt paid off and feeling quite giddy!

I'm 39 years old and 11 months and just barely squeezed this in before my 40th birthday! Here I thought I'd have a low-key birthday but not anymore! I'm celebrating, Baby!

Chris is supposed to pay something towards CRA for previous taxes owed. We don't have the numbers for what that amount is yet. (They're still working on that on their end.) So, in the meantime, we're saving up some money between now and the fall so that if he is given a bill to pay we'll have money for it. After October we'll be able to start saving for a larger emergency fund, car and adoption. We've already looked at those numbers as well.

We still have a plan and just because we're done paying off debt doesn't mean we're not going to work this plan. It's important to still have goals and a direction. Everything we're doing is done with a prayer and humble heart.

We feel in awe of what has been done to allow this day to come in this timing. On Saturday, when we received the news about the tax return, I sat here dumbfounded for over twenty minutes just unable to speak full sentences. Chris did start giggling at me... I must have been a funny sight to see!

Today we slogged through the rain and cold wind to haul our butts by bus all the way to the dental office. We arrived there soaked to the bone so that we could pay off the remaining dental debt for my implant procedure. This was to be paid with instalments until October, but this was the last debt and I wasn't willing to just pay it off in smaller instalments anymore. The two receptionists who were present when we arrived were shocked by our dedication to pay it off early. Not only that, when they heard what we were doing, paying off almost $48,000 in 25 months they had so many questions for us! The main question was, "HOW?!" I have no idea if they'll remember this day, but I know we will. It felt awesome to leave their office -- still soaking wet -- and grab a celebration ice cream cone at Baskin Robbins before heading off to finish our errands. That ice cream never tasted so sweet!

We can now look forward, to a brighter future and a more obtainable hope of a family... Maybe just maybe this will lead us to another step towards our son or daughter.

Every step on this journey is not taken alone. We know we walk with Jesus Christ, our Saviour through it all. We're so thankful and feel quite in awe this evening. No words can describe just how sweet this victory is. All for His glory and His timing...

Dancing like a goofy fool

As we approach the end of the month of May typically I reflect back on our month's progress. Instead, I received some amazing news today that made me celebrate someone else's moment of happiness in their debt-free journey.

A friend of mine contacted me to let me know they had paid off another debt! They have been dedicated and consistent in their journey and another step of progress was reached. We did a happy dance of celebration together, even though we were not actually together for the dancing. It was a goofy crazy moment of dancing all alone in our separate locations, but the shared joy was palpable and felt.

I'm thrilled to dance with another person on this journey. Every moment of absolute success spurs me on to press forward and give this thing a renewed burst of energy to just keep trying.

We cannot forget the little successes along the way, for the little moments of success build one atop another until they become a vision of success that can inspire you and others.

Lead by example and you will become your own example -- even for yourself!

In that vein, Chris and I will be doing a "half-spending freeze" for the month of June. We have surmised we have more than enough groceries to get us through the next month. So we've only put aside $50 for grocery money (fresh milk, fruit and eggs) but our remaining grocery budget money of $250 will go straight towards savings. (I'll tell you what large item we may be saving for in a future post!)

Normally I'd throw that extra money at debt and we thought we were going to, but something has come up on our radar, something entirely unexpected and potentially exciting! More happy dancing ensues!

In the meantime, I'll leave you all in suspense and just say celebrate those little victories. Anytime you make a budgeting plan and stick to it -- celebrate that! Eventually that goofy once a month success dancing will be a debt pay off dance -- like my dear friend! So exciting!