We're making a move!

We're making a big move! Empty Pockets blog is relocating!

Empty Pockets is shifting spots on the old World Wide Web. I decided to get a web host, get my own domain name, and update the look of the blog. Hopefully the transition will be fairly seamless. Ideally the blog will be a bit more streamlined, and easier to read. Please check out the new digs at http://emptypockets01.com/wpfile/?p=3

 

New Years Resolution #2: Get in shape, kind of.

Photo by Ken Stewart

Tis the season for resolutions. Promises, hopes, dreams and expectations. I am no different. There are many things on my list of things to accomplish in 2011. One of my big ones is to get in shape. Sort of. I have to qualify this statement because I am really, really, really out of shape. I have never, ever really been "in shape". In my whole life. Honestly. So for me, the term "getting in shape" is a relative term. It means going from jiggly-no-muscle-tone-low-aerobic-capacity girl to some improvement of the above mentioned description. No problem right!

According to a recent poll, I am not alone. The second and third most popular New Year's resolutions are getting fit, and losing weight. I am definitely on board with both of these ideas. I am not obsessed with my figure, nor do I consider myself vain. But I have always been a bit overweight and never physically fit, so I feel there is definitely room for improvement. I will never have a model's figure, nor will I ever be an elite athlete, but I can definitely aspire to be an improved version of my present self. 

The most popular way to get fit seems to be joining a gym.
According to the International Health, Racquet and Sportsclub Association (IHRSA), there were approximately 45.3 million Americans belonging to 29,750 health clubs in 2009. Fitness clubs are ubiquitous, and the myriad offerings appeal to many people. Whether it's racquetball, squash, treadmills, hot yoga or pole dancing classes, there seems to be something to appeal to just about every personality and interest. For me, fitness clubs are an appealing option, but my budget will simply not allow it. Ideally, I think I would like to join a club, hire a personal trainer and have someone to assess my fitness level (zero) and figure out some exercises I could do to improve my state. However, no money is available for such diversions, so I have decided when the weather improves I will try to start walking. I live along a fitness trail, and it's free. So as soon as the snow and ice clear, I can start hoofing it along the trail and hopefully start my fitness regime.

Photo by emmequadro61

Debt Fatigue

photo by naturalhomecures34

I have been working a lot at my real job lately, working some long hours, many different shifts, and often I have difficulty sleeping (especially when I work until midnight). I often toss and turn, unable to sleep, and in my mind I am often writing fabulous blog posts! If only I could get them online! So it seemed fitting that I finally get back to the blog (lack of time this week being an issue) and finally put it out there. 

Something that has been nagging at me lately is the concept of debt fatigue. Haven't heard of the concept? Well, it is a concept that I heard about when I first started reading the blog posts of Gail Vaz-Oxlade. She basically talks about the feeling that people experience when they have been in debt for awhile, they have been working at tackling that debt for awhile, and they begin to feel as though they are never going to see the light at the end of the tunnel. In Gail's 2009 book Debt Free Forever, she states that you "start spending again after being overwhelmed by the amount you have and the seeming futility of your debt repayment process. You've given up and gone shopping". I have started feeling a bit of this fatigue myself. I have not gone off the deep end and started spending crazily. I have barely gone on any unnecessary shopping excursions except to my local dollar store (limited opportunities for damage to the budget!). However, I have grown quite tired of the position in which we find ourselves here in this household. I crave having a bit of financial wiggle room. I can definitely understand what makes people want to just say "chuck it!" and whip out the credit card and book a trip to the Caribbean. I'm not going to do it. But I do not feel that I have the motivation to get serious and start fighting the debt monster right now.

New Years Resolution #1: I shall not covet my neighbour's stuff!

Photo by Cynthia K

I have to admit, this is a tough one. I started off the New Year, talking to my brother (the shiny, rich, perfectly attired brother!) and he recounted his absolutely perfect New Year's celebration. He related how he and his beautiful wife had a lovely pre-New Years party at their home with drinks and hors d'oeuvres for 16 of their closest friends. Then the party posse moved to the country club down the road, where they rang in the New Year with a lavish dinner, drinks and dancing. DANG! That's the New Year's celebration I wanted. Instead, I worked at my real job until 6pm, came home dog tired, we ordered Chinese take-out, watched the ball drop on the television, went to sleep, then got food poisoning and spent the next two days in bed. Ouch.

Coveting is a difficult thing. My human frailty leads me to do it every now and again. My brother's life often seems so polished and perfect (there's that word again!) it makes me crazy. My own life seems harried, disorganized and chaotic in comparison. Their home looks like a decorating magazine. Mine looks  half-finished, toy-strewn, kid-friendly, and not too clean in comparison. I could go on and on, but you get the idea. 

Other people's lives often look great in comparison to our own. Not having a bird's eye view into their homes often makes us skew our vision of what their lives must be like. Seeing all the beautiful possessions, the tailored clothes and the shiny cars makes many people crazy! (myself included) Why can't my life be like that (or sort of like that!). 

It's difficult to take that step back, and breathe. Coveting our neighbour's stuff is human, but not particularly productive. It inhibits our own growth process. If we want to change our lives (financial, social, personal) we have to look within. Examining our history, our habits and our frailties is the first step. Only then can we get an idea of what we need to do, what goals we want to set, what steps need to be taken to improve our lives. It is possible. Just shove those covetous thoughts aside already!

«What people say, what people do, and what they say they do are entirely different things.» — Margaret Mead

Coupon success: a good day for saving!

Photo by Sascha Erni

As I have posted before, I am a big fan of coupons. I use them almost daily, and have made it a habit to acquire, organize and use them in a sensible way. I try as often as possible to maximize savings by using coupons on items that are already on sale. It only makes good financial sense! Sometimes, circumstances intervene and I am forced to buy something at full price and so the coupon savings are not so great. Once in a great while, circumstances dovetail nicely, and I am able to combine my coupon savings with some hugely discounted items. This happened to me about a month ago, and I wanted to share my savings with you, the readers.

 
 Huggies Pull-Ups  reg. price $21.99, sale price $13.99 + $2.00 coupon=$11.99
Pampers Diapers  reg. price $22.99, sale price $13.99 + $2.00 coupon + $11.99
Pampers Wipes reg. price $15.99, sale price $8.99 + $2.00 coupon = $6.99
Johnson and Johnson baby body wash reg. price $6.99 + coupon for free product = free product!
Kraft Delissio Pizza reg. price $8.99, sale price $3.99 + $1.00 coupon = $2.99
So Nice Soy Milk reg. price $4.29 + $0.75 coupon = $3.54
Nature Valley Granola Bars reg. price $3.99, sale price $1.99 + $0.99 coupon = $1.00
Kleenex tissues reg. price $2.29, sale price $0.79 + $0.50 coupon = $0.29 (2 boxes)


Total coupon savings was $16.73!

Photo by Shlomi Fish

As a note, all of the items I would classify as "needed items", I was not just stocking up my pantry because of the sales. I actually needed all of the above items, and they went into use right away. It was just some good luck that week with the way the sales were working, and it was much appreciated around Christmas when money was a bit tight.

I have noted before the main sources of coupons that I use frequently are save.ca, www.brandsaver.ca and www.websaver.ca. Both the save and brandsaver websites have U.S. counterpart sites with the .com suffix. I also clip coupons that come periodically in the weekend newspapers (Redplum is one example). I have found that online coupons can be very useful (as in the above noted sites) whereby the coupons are selected by YOU the consumer, and the sites print the selected coupons and send them to your address. I tend to stay from coupons that you print yourself, as many retailers refuse to accept these due to widespread fraud. 


Keep clipping, keep watching the sales, and keep the extra money in your pocket! Sound financial sense!
 
    

CBC News - Consumer Life - Bankruptcy watchdog issues debt warning

CBC News - Consumer Life - Bankruptcy watchdog issues debt warning

New Years -- Resolve, Restart, Refocus

I love New Years. And not just because I met my husband on New Years Eve, 2002. (awesome!) I love what this time of year represents. It's a time of transition for me; I'm trying to right my financial ship, I'm trying to branch out in other directions away from my chosen career, and I'm trying to simplify things at home by cleaning, recycling and getting rid of clutter. It's all lofty ambitions and pie-in-the-sky, or is it?
Regardless of one's circumstances, and the journey a person is taking, it's of great benefit to pause once in awhile and take note of one's progress (or lack thereof!). For some people, it's time to start something new, set a goal.
And, really, that's the thing. In order to achieve some measure of success, you have to set a goal for yourself. Not something too fuzzy like "look better", "organize my house" or "meet people". A goal ideally is specific and quantifiable. It's also a good idea to make a goal achievable. Give yourself a timeline, set the goal, and reach for it. For example, I want to completely pay off my balance (say, $500) on credit card X in 6 months. To make it achievable, divide the payment into 6 equal installments, set up the payments automatically on your online banking software, and voila, goal achieved. (Of course, you need to stop using this credit card completely or hide it in an ice cream tub in the freezer!) Once a small goal is set, and achieved, then it makes it easier and more desirable to set another goal, and the success bandwagon is in motion!

 There are a number of items on my to-do list for 2011. First thing is to pay off my credit card with the highest interest rate, and lowest balance. (interest rate, almost 19.5%, balance around $800). I am waiting for a freelancer paycheque (around $350) to pay off the first chunk of that debt. Then, I will pay another $100 monthly until it's paid off. Should be less than 6 months. Then, I will be cancelling that card (interest rate too high anyway), and keeping just the one main credit card with the under 6% balance, but much higher balance. That's going to be the next hurdle to clear, will take a bit longer. but it's still achievable. I will have to do up a formal budget in the next few days and see what my cash flow will look like in the coming months. 

Perseverance is not a long race; it is many short races one after the other.
Walter Elliot