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3 rules to follow when he’s a saver and you’re a spender

I like to shop. Every single trend that could be found in the stores of a mall was, once upon a time, present in my closet. Even the questionable items. I buy candles for every corner of my room because one is never enough, and I once purchased face cream the price of multiple dinners at Sephora — merely because the make-up artist told me it was nice.

On the other hand, my husband likes to save. You know that thing at the bank called a Saving’s Account? He actually has one. While I scroll through my favourite online stores, he scrolls through his budgeting applications, all while checking on his many investments and stocks; a side hustle he plans to take advantage of during ‘rainy days.’ Frugality is his specialty. Extreme couponing, I think it’s safe to say, is one of his life time goals.

Like other couples, we have very different spending habits. Given this, it’s no surprise that money is the most common topic that couples argue about. A recent survey from the American Institute of CPA’s concluded couples argue at least three times a month about finances. Researchers believe the conflict may stem from failing to discuss money on a regular basis. Fifty-five percent of those surveyed who were married or living with a partner said they don’t regularly set aside time to talk about financial issues.

So, let’s talk.

Take these three steps to avoid the ongoing kerfuffle of choosing between the $14.99 or $19.99 bundle and thank me later.

  1. Communicate. You hear it repeatedly. So why is it so difficult to follow through? Talk to your partner about how you want to handle your finances as a couple, along with any individual expectations that you may have of one another. Discuss whether you want to share any expenses such as utility bills or groceries or if you want control over your own finances. Ensure you go over any debt that either of you have to take care of and that you are transparent when it comes to your purchases. What is the point of buying a car without a discussion if you have to drive around alone because bae is mad at you?
  2. Speak their language. Try using a reference from their favourite TV show and watch how googly their eyes get. Its important to be able to relate to your partner. Get on their level. If they start pricing matching or looking at deals, keep your cool – and let them be. Don’t try to change them and don’t let them try to change you. Habits build over time, making it difficult to break. Instead, take things away and implement them in your daily life. Find the positive aspects to their habits. Think about it; saving up for an emergency prevents either of you from having to get a second job if the time came. Thus, you’ll have more time to spend with each other. Because love.
  3. Have your own savings. Whether you agree to share your finances, contribute to expenses, or manage your own money, always have funds set aside solely for yourself. Although there are many advantages to a joint account, there will always be a reason to have at least one bank account dedicated for your own use. This is especially important if you and your partner are on different financial levels or if you have different spending habits. After merging two lives together, it can be easy to feel a loss of independence. By having something that is solely yours, you can guarantee you still have some control over your life.

Relationships take a lot of work to be successful. It’s about compassion, patience, and compromise. Despite this, you may still find yourselves butting heads with your partner from time to time over things you just can’t seem to agree on. Follow these steps to ensure you spend less time arguing about finances, and more time arguing about things that matter; like which show you want to Netflix binge (and chill). Lastly, don’t forget to give him a kiss when he splurges on you! Your relationship will grow stronger and better because of it.

New Airbnb regulations for the City of Toronto

A new set of regulations for short term rental spaces, such as Airbnb, has been approved by Toronto’s city council.

One of the biggest changes is that basement apartments have now been banned from use as a rental space, leaving many potential landlords who use Airbnb to make some extra cash out in the cold. By limiting guests to people’s primary residences, the city hopes to have better insight into the current housing situation in the city. It also allows more of these suites to be available for long-term contract rentals. One of the new regulations states that only long-term tenants of secondary suites, not the owner, could offer up space for nightly rental.

This step will mean that families who take part in home sharing will now be regulated and formally recognized. Alex Dagg, the policy director for Airbnb Canada said, “This is truly a big step forward for the City of Toronto, in terms of supporting the fact that we have thousands of families in Toronto who have been home-sharing and are now going to be formally recognized and regulated. We look forward to working with the city on the next steps.”

Short term home-sharing hosts will now pay the city $50 per-year for a rental maximum of three rooms, which will be rented for no more than 180 nights per year. The unpredictability of the current housing market in Toronto, along with fluctuating costs, could mean there will be more short-term rentals and less room for long- term tenants.

Those fighting to include secondary suites argued these rules put many homeowners at a disadvantage and they should be allowed flexibility in the choice of renting out spaces they choose. Toronto Mayor John Tory voted in support of the regulations, saying that City Council had the responsibility to put reasonable limits on property use.

Airbnb, which is a San-Francisco-based company that allows users to book home-sharing services online, said that in the past year there were over four million Canadians that have used this service to travel domestically. Earlier this year as part of the government’s pre-budget process, Airbnb sent a letter to the House of Commons finance committee asking the government not to over regulate. This request was unrelated to Toronto’s new regulatory process. So far, the regulations seem to be pleasing to both the government and Airbnb.

The government is set to revisit the rules in 2019 as this will provide a timeline in order to observe any major changes to Toronto housing.

What do you think about these new regulations? Comment below.

How to survive planning a child’s birthday party

Planning a child’s birthday party should be fun and easy, right? It is, after all the, time to celebrate another year of a kid’s life with 10 to 20 screaming mini friends while trying to balance allergies and make sure your child’s dreams come true. Alright, perhaps not so easy, but with a plan in place, and with the help of this survival birthday how-to guide, children’s birthday party planning will be a breeze.

Though birthday planning can be overwhelming, it will become easier once you simplify it and start at step one: location, location, location. Where are you having your ultimate kid’s party? There are many options ranging from the movie theatre to a gymnastics centre or a more classic home party at your house. It can be more difficult to plan a winter party because the outdoors obviously won’t work, but here are a few indoor birthday party ideas for winter babies:

  • Indoor Trampoline party
  • Beading studio for jewelry party
  • Art studio for pottery making
  • Indoor playground
  • Gymnastics centre
  • Rock Climbing
  • Baking yummy treats party
  • Homemade Pizza Party
  • Craft and Arts party

If you are on a budget and can’t afford the $250 plus fees at these expensive venues, opt for a party at home or a room in the local community centre to save on costs. Through the City of Toronto for example, there is an option to rent a room for an arts or baking party, or to rent out the gym for a more sports-themed extravaganza.  For my daughter, we decided to do an arts-themed party at the community centre because we are short on space for a group of children at the house.

After the location and time are booked, it is time to decide how many kids to invite. This is a difficult decision because it is hard to think about disappointing kids that aren’t invited. On the other hand though, if too many kids are invited the costs will go through the roof and planning it will become very time-consuming. Most parties would include about 10-15 kids, because not all the invitees will be able to attend due to other weekend recreational activities. Make sure to include a note in the invitations about letting the host parents know about allergies when people RSVP.

Budgeting for various party expenses is imperative to ensure that overspending doesn’t occur. Use an excel sheet or google doc to keep track of expenses and to organize what is left to be done prior to the party. Try to get friends and family to help out instead of paying venue staff. People love kids’ birthday parties because, frankly, children are hilarious and cute when they are excited. By getting family and friends to help on the big day, it will make things go smoothly and then the parents have some adult companions to enjoy the festivities with.

Last but not least, have fun! There will be points of stress and it is nerve-racking thinking about how your child’s birthday party adds up compared to their classmates’ parties, but at the end of the day, the only thing that matters is that your child is smiling and happy.

What are your survival tips for planning a child’s birthday party? Let Women’s Post know in the comments below.