Fabulously Broke in the City » Money

Am I the only one who does this?

FB @ FabulouslyBroke.com — Fri, 27 Jan 2012 10:00:14 +0000

When I had a job with a set paycheque every 2 weeks, I’d spend HOURS imagining what I would do with that money.

I make up spreadsheets upon spreadsheets of dreams, and play with the numbers and cells for many hours.

And I still find this a lot of FUN.

Most of it was dreams of how fast I could use the money to clear my debt, but it got to the point where the MINUTE the money deposited into my account, I’d have paid all my bills and allocated the cash in 3 minutes, tops.

There was no agonizing, or wondering what I should pay or do.

I had already spent hours (of fun not torture) doing that before.

I just like playing with numbers I guess.

It feels slightly obsessive, but if this is my idea of fun and I am actually enjoying it.. I’m going for it!

If you are reading this on any other blog than Fabulously Broke in the City or via my RSS Feed, it is stolen content without credit.

You can contact me here or find me on Twitter via @brokeinthecity.

Come and visit my other blog: The Everyday Minimalist where I am living with less, but only the best!

What is the most amazing thing you’ve done with your money?

FB @ FabulouslyBroke.com — Wed, 25 Jan 2012 13:00:09 +0000

The most amazing thing I’ve ever done with my money is…

To use it to clear my $60,000 student debt.

Cheesy but true.

Here are some other amazing things:

Paying $1800 for a used car and having it be a great vehicle that does its job
Using it to travel to countries I’ve always wanted to visit

And the stupidest thing I’ve ever done with my money?

Getting into debt in the first place.

Does that count? I could have probably pinched to have only been $30,000 – $40,000 in debt, but I wasn’t very frugal in college.

Okay, if that doesn’t count I have plenty of other stupid things:

Paying for an apartment I never used – I was traveling all the time, so I finally gave it up after paying $19,200 in total for a year
Paying for parasitic people in my life – This stopped after I realized they’d never change and I cut them out of my life

What are some of the most amazing and stupidest things you’ve ever done with your money?

There is such a thing as being too frugal

Is there ever such a thing as being too rich?

Everybody* has money

Are you suffering from frugal or debt fatigue?

Would I change my view on money if I made less?

Re-commit and start your money goals: Keeping yourself in check, and on track

If you are reading this on any other blog than Fabulously Broke in the City or via my RSS Feed, it is stolen content without credit.

You can contact me here or find me on Twitter via @brokeinthecity.

Come and visit my other blog: The Everyday Minimalist where I am living with less, but only the best!

Makeup and Money: The Cost, the Quests and the Holy Grails

FB @ FabulouslyBroke.com — Mon, 23 Jan 2012 10:00:43 +0000

THE COST

Women spend $7 billion a year on makeup, around $100 each (although that’s not true, some of us *cough* spend more than others) (The Gloss).

Vanity Fare says in the U.S. alone, 68% of the 70 million women in the country (48 million) work and have money to spend on beauty, and $17 billion dollars is spent on makeup in the U.S. alone.

Women purchase 2-3 times on average more makeup than they need or use.

The average woman owns:

7 Lipsticks but use only 2.6 of them on rotation
12 Eyeshadows but only use 5 of them on rotation <– the biggest category!
2-3 Mascaras but only uses 1 daily
3 forms of blush in various shades but only uses 1 daily
2 foundations and they use one or both daily

So we own more than we need (no surprise) and there’s always a demand to look and stay beautiful.

QUALITY FACTORS IN THE COST

The cost also matters in terms of quality and how picky you are with it.

If you want, you can spend only $7 on foundation or concealer, but for the most part, it won’t be as good as if you shell out for other more expensive brands.

This is from experience by the way… I’ve worn very cheap to very expensive, and I find the mid-range brands (mostly available at Sephora) are the best.

Let’s break down what a basic kit would have:

BASIC MAKEUP KIT

Foundation or Concealer – $50
Eyeliner – $10
Mascara – $10
Eyeshadow – $15
Blush – $15
Lip Colour – $15
Subtotal = $115

EXTRAS TO ROUND OUT A MAKEUP KIT

Makeup primer – $50
Eyeshadow primer – $30
Bronzer – $20
Concealer or Foundation – $50
Brushes – $50
Subtotal = $230

Total = $315

Then imagine variations of colour on blush, lip colour, eyeshadow, foundation, concealer… and you can see how and why women spend so much on makeup.

Granted, the above can last me a good 5 years, so it’s really $295 / 5 years or $59/year, but they tell you to change your makeup every year or so.

THE QUEST

It took me a while to find the right products, and it was just a question of cost.

Spend where it makes sense and save on the rest.

Funny, but true.

I’m not talking about spending $100 on a designer foundation, but if you can afford to splurge, go up to the mid-range costs of makeup products. The extra $20 per tube or compact is worth it, trust me! I cringe every time I pay, but I can’t go back to the cheaper drugstore brands for certain items like foundation, concealer and blush.

The rest, like eyeliner or eyeshadow, can be found in lower-end drugstore products such as Annabelle (which is amazing!), and there’s no need to pay $20 for a great eyeliner unless you want to.

THE HOLY GRAILS

Foundation: Powder CoverFX covers beautifully and is SPF15
Concealer: Time Balm TheBalm or CoverFX covers everything with SPF15
Eyeliner: Marcelle or Annabelle has amazingly soft eyeliners
Mascara: Covergirl or Maybelline
Eyeshadow: Annabelle Mono Eyeshadows (Gleam is beautiful)
Blush: Cargo Blush
Lip Colour: Rosebud Salve Lip Balm
Makeup Primer: Tarte Clean Slate
Eyeshadow Primer: Too Faced Eyeshadow Insurance
Bronzer: Annabelle Zebra Glow Bronzer works on all skin tones
Brushes: The Body Shop, Quo or Sephora

The TOTAL? Around $250

Naturally, I have more than what I am listing above, but that would be my current Holy Grail of makeup items and how much it would cost to replace everything.

Want to learn more makeup facts?

Read: The Argument for Wearing and Using Less Makeup (The Everyday Minimalist)

What about you?

How much do you own in makeup and what’s in your essential kit?

Saving money on beauty

How much is your face worth?

Cost of a (Second-Hand) FB Mobile

How much does your pet cost in a lifetime?

The Cost of Obesity in the United States

True Cost of Watching & Owning a TV

If you are reading this on any other blog than Fabulously Broke in the City or via my RSS Feed, it is stolen content without credit.

You can contact me here or find me on Twitter via @brokeinthecity.

Come and visit my other blog: The Everyday Minimalist where I am living with less, but only the best!

Shopping is cheaper in the U.S.: An excellent way for me to limit my shopping urges

FB @ FabulouslyBroke.com — Fri, 13 Jan 2012 06:00:21 +0000

It all started while I was looking for a black sweater in a decent price range.

Specifically, a pullover, perhaps with 3/4 length sleeves, in a nice fabric.

I saw this lovely sweater online at J. Crew (love the blue too!), but the minute I looked at the prices, I knew I wouldn’t be buying it, let alone buying any more clothes in Canada.

Let’s just take a look, shall we?

$65 USD for the sweater, $8.95 flat rate shipping (I could also go in-person in Toronto), but free shipping if you order over $175.

But wait!

For Canada, the price jumps up a whopping $21 USD, never mind the fact that they have a bloody store here IN TORONTO (Yorkdale mall), and they don’t even offer free shipping, but it is $1 extra:

Conclusion? I am not buying clothes in Canada any more. I can hold off, and this is a huge motivation to NOT shop.

I will only buy Canada-only products or second hand items

Aside from shopping on Etsy (love!), I will only go into those stores that don’t exist in the U.S., and/or are not U.S. owned at least.

For instance, Lululemon prices are about the same in the U.S. as they are in Canada, save for a couple of bucks, but nothing like a 30% price jump.

I also like independent designers, which is why I frequent stores on Queen Street and I like knowing the designer is in Canada, for instance.

I am not squeamish about secondhand items, although I know some people are (I totally respect that). If I can save money off the retail price of something, why the heck not!?

Even better if I can buy from fellow friends

I am patient, and frankly this stuff is unnecessary

Besides, I don’t really need any of this stuff.

I “need” a black or navy sweater, but to save 30%? Heck yes, I’ll be patient and wait all year if it takes all year.

This applies to everything I want to buy, even travel stuff. I’d rather wait and go across the border and save a good 30% or more, than buy it now and not really have an immediate use for it.

USA versus Canada: Taxes and Currency Exchange

We’ve been flirting around par (above and under) recently, and while I understand that they cannot put a fixed retail price based on a hope that the CAD and USD will be about the same (seeing as the numbers have been fluctuating since 2000), 30% is really quite a price gouge, especially since I can just wait and cross the border to buy it.

Not to mention the fact that Ontario charges a very unfriendly 13% sales tax, compared to the 8.25% in Texas, or 4% in New York, including this little gem:

On September 1, 2007, New York State eliminated sales tax on all clothing and shoes if the single item is priced under $110.

Wuh-WHAT!?

I know where I’ll be shopping from now on.

All this means for me, is that I will not be shopping as much, reminding myself that there is a 30% premium on U.S.-owned stores, and if I don’t need it right this instant, I can wait.

Thank you J. Crew, for your 30% price hike for Canadians. You’ve saved my wallet!

The Almost Purchase of the Facile Camp Shirt(s) a.k.a How I Curbed My Shopping Temptation!

Shopping to fill an emotional void

How does it feel after going through a year long shopping ban?

Making food for cheaper at home or eating smart when eating out

Shopping strategies to save money, time and space in your wardrobe!

Celebrity Shopping Sprees: Annie Leibowitz

If you are reading this on any other blog than Fabulously Broke in the City or via my RSS Feed, it is stolen content without credit.

You can contact me here or find me on Twitter via @brokeinthecity.

Come and visit my other blog: The Everyday Minimalist where I am living with less, but only the best!

How do people think other people get rich, anyway?

FB @ FabulouslyBroke.com — Wed, 11 Jan 2012 06:00:39 +0000

Disclaimer: I am fully aware that this is a First World problem, to complain about prices and money in general, but as I am living in a First World and not a Third World, this is my reality for now especially as a PF blogger.

This comment on my Everyday Minimalist post — Paris, France Part 1 — amused me more than it annoyed me:

In case it’s hard to read, ryan wrote:

$250,000 in the bank while travelling europe, and all you can do is complain about the prices? liberated indeed.

My answer is:

I don’t have $250k in the bank.

Wherever did you get that idea?

Also, just because I have money it doesn’t mean I can’t be careful with my money. Perhaps you shouldn’t read PF blogs if you’re going to get mad with people saving money & wanting to save more of it in their lives.

1. I have $155,000 not $250,000

My goal is to reach $200,000 this year but it looks a bit bleak because I am also trying to move to the U.S. and it’s getting complicated.

Still, setting a high goal is a nice thing to do for 2012.

I’m going to need to think of another strategy to make some money in the meantime.

2. The prices ARE shockingly high in Europe

They are shockingly high almost anywhere in Europe, which makes me quite glad to be across the pond, to tell you the truth.

Cost of living must be a bitch there — no wonder people can’t go out to cafes to chill out any more. They’d be poor in no time, especially without access to easy credit like here.

I was mad about having to pay good euros for crap (Laduree’s day old croissants), or a lot of money for what I consider to be cheap drinks (hot chocolate, pop), especially if you knew how much the old franc was really worth in comparison to the EUR.

To put it into perspective of why I was shocked at the prices:

6.55 French francs = ~ 1 EUR

A coffee in Paris used to cost about 5 francs, or less than a EUR.

Now, a coffee is about 2 EUR, or 13 francs, a 100% increase.

Guesstimating: 5 francs for a coffee in the past, and a hot chocolate at the most would have been 7-10 francs.

I was charged 4 EUR for that simple hot chocolate I took, which would have been 26.2 francs.

26.2 francs is murderous!

We are talking about more than a 150% increase in prices just because of a little currency exchange that was supposed to facilitate buying and selling among European countries, nothing more.

So if 1 EUR = $1.30 CAD, then I paid $5.20 for a cup of hot chocolate.

Even for $2 here in Canada, I wouldn’t pay for a cup of hot chocolate.

With chai teas and green tea lattes? Yes. A tall for $3.62, but not that same price for a simple, powdered mix hot chocolate.

(Even so, I am starting to drink more tea at home and foregoing the Starbucks route to save $$.)

I find any kind of drink overpriced considering that I know what goes into it — cocoa powder, sugar, some milk if you’re lucky, but it’s mostly water.

What is that really in cost? $0.50 in total?

You can see where I was a bit shocked at the prices, commenting on its huge price tag. I wouldn’t even really buy it for myself here, in Canada.

In Europe, I had the same reaction EVERYWHERE. It was the same not just for the hot chocolate or the drinks, but for everything except wine and cheese (fabulous prices at an amazing quality, even converted into CAD).

3. Where do they think I got the money anyway?

From a money tree? From a leprechaun? Maybe a magic money fairy who comes and visits every night?

Heck no. I SAVED EVERY PENNY OF IT, damn it.

I didn’t spend the money, and that’s how I have the money in the bank.

How didn’t I spend the money? By not buying $5.20 hot chocolates, and seeing that purchase as a one-off, overpriced, expensive TREAT.

That’s how ALL people who have savings have money.

They saved it by not spending it.

What I’m slightly melancholy about is that I could have saved MORE last year by not spending it so willy-nilly, but I had a great time so 2012 is another year.

So how am I NOT going to spend the money this year? I am going to avoid restaurants.

I am hearing too many gross stories I’d rather not share on this blog in fear of making you ruin your lovely computers by retching all over it, and I am going to stick to just eating food I or BF make at home.

With all that money, I’m going to keep my savings and watch it grow with the magic of compounding interest.

Getting Rich = Saving Your Money and Not Spending It Wastefully

Anyway, just thought I’d share this amusing comment with the rest of you.

Carry on.

Poor people aren’t always lazy people

Acting rich is not the same as feeling rich

What do you consider “rich”? Comments please!

Why people think $20 is more expensive than a $20 increase

Do poor people have a complex when they climb the social ladder?

“G”, If I Were A Rich Girl…..

If you are reading this on any other blog than Fabulously Broke in the City or via my RSS Feed, it is stolen content without credit.

You can contact me here or find me on Twitter via @brokeinthecity.

Come and visit my other blog: The Everyday Minimalist where I am living with less, but only the best!

Why people think $20 is more expensive than a $20 increase

FB @ FabulouslyBroke.com — Fri, 06 Jan 2012 13:00:03 +0000

If that title didn’t make sense, it will after I explain!

So where I work, you can buy a parking pass for $100.

If you decide not to, the cost of parking is $6/day, and if you consider there are about 20 working days, that’s $120/month.

Just recently, the parking cost went up from $6 to $7, a full dollar more, which means another $20/month extra, for a total of $140/month.

(The parking passes stayed the same locked-in price at $100.)

Now, people are starting to complain and ask for the monthly parking pass because no one wants to pay $40/month more if they can help it!

What I find funny about all of the above, is that most people found paying $20/month more to be ‘acceptable’ but when it went up another $20/month, they started complaining, especially when the company told them: Sorry, we can only give out 250 passes. You’ll have to go on a waiting list.

I know that $40/month is more substantial than the original $20/month, but to me, money is money, no matter the amount.

If I was told I could get a monthly pass for $100, or face paying even an extra 1/month, I’d get a pass as soon as possible!!!

I was then reminded of a study that stated that for consumers, if they are told the original price is $120 for a month, even if they could sign up for a discount plan that would save them $20/month, they don’t see the $20/month as a big deal.

It is the increase over the original stated amount that people take more seriously.

That means that even if the original price was an acceptable extra $30/month over the discounted pass, they will see ANY increase, even $10/month extra as unacceptable.

So readers, have you experienced something similar?

And what is your price limit for an ‘acceptable’ increase per month over a more finicky, but discounted option?

$1? $10? $20?

Turns out the most expensive isn’t always the best

How do people think other people get rich, anyway?

Poor people aren’t always lazy people

July 2009 Budget Set

Most Expensive Bills in the World

Canada vs. U.S.: Comparing the cost of homes by city (Canada seems to be 100% more expensive on the whole)

If you are reading this on any other blog than Fabulously Broke in the City or via my RSS Feed, it is stolen content without credit.

You can contact me here or find me on Twitter via @brokeinthecity.

Come and visit my other blog: The Everyday Minimalist where I am living with less, but only the best!

The Fabulously Broke in the City Year 2011 in Review = – ($30,138.59)

FB @ FabulouslyBroke.com — Mon, 02 Jan 2012 06:00:55 +0000

I shall name this year:

THE YEAR OF SPENDING

(Because let’s face it, that’s pretty much all I did this year.)

Past Years in Review

2009 Year in Review = – ($22,484)
2010 Year in Review = +130,101

2011 GROWTH IN REVIEW

Worked 3 months then took the rest of the year off and traveled to:

Visited Asia: Tokyo, Kyoto, Beijing, Shanghai, Hong Kong, Macau, Singapore
Visited Europe: Salamanca, Evora, Lisbon & Madrid
Re-visited Europe: Paris, London, Stockholm, Brussels and Vienna

NEW YEARS’ RESOLUTIONS

2010: New Year’s Resolutions — Past, Current and Future

For 2011, I have 3 things I’d like to accomplish:

Move to the U.S.
Make and save money (as much as I can, as I feel G-U-I-L-T-Y..ish)
Aim to achieve $200,000 net worth, which means saving at least $75,000* net

*The actual savings will be $45,000 but I have to pay my personal taxes, so I need to save about $75,000 in total next year

This crazy ones poster‘s profits go to Acumen Fund‘s mission to end worldwide poverty.

True (Funny) Story: I once quoted the above to a friend of mine (I didn’t tell her it was Steve Jobs who said it), who then read it out to a friend of hers.

Being a first-year psychology major, he immediately told my friend to tell me to get some therapeutic help IMMEDIATELY because I was CLEARLY a psychopath who was about to slit her wrists in a warm bathtub.

My friend called me in a panic and told me she was there for me, she didn’t want me to kill myself if I ever had such suicidal thoughts and she would do anything to help me get through this.

The sound of my incredulous, disbelieving, confused voice on the phone was enough to convince her that I was NOT suicidal and I had never been.

I told her it was Steve Jobs who wrote that, and she calmed down.

Moral of the story? Don’t ever listen to other first-years spouting off like they know anything just because they unwrapped their shrinkwrapped textbooks and read a little bit of it.

2011 FINANCIAL YEAR IN REVIEW

2011 Budget Roundups and Net Worth Changes

Increases and (Decreases)

Note: I stopped working at the end of March and took the rest of the year off to travel.

TOTAL INCOME FOR 2011: $59,260

This is GROSS income for the 3 months I worked
I still have to pay my personal taxes for 2011, this year

TOTAL BUSINESS & PERSONAL EXPENSES FOR 2011: $44,618.92

PERSONAL EXPENSES: $41,525.66

As mentioned, I stopped working in March and took the rest of the year off to travel
Almost half of my personal spending was on Traveling
I manage my budget using my Budgeting and Spending Analysis Tool

BUSINESS EXPENSES: $3093.26

I had minimal business expenses
The rest of the year was Personal Spending

TOTAL NET “SAVINGS” FOR 2011: $18,474.34

It LOOKS like I saved $18,474.34, but I didn’t
I am using gross income (before taxes) in the calculation
I paid my business taxes in full already and I still have personal taxes to pay on top of that
I really base everything on what my net worth looks like from month to month, year to year

FINAL NET WORTH FOR 2011: $155,217.05

I started the year with $185,355.64 in net worth.

I ended it with $155,217.05

It’s a decrease of $30,138.59

MY NET WORTH FOR JANUARY TO DECEMBER 2011

Okay so the decline doesn’t look quite as sharp as I had expected, but it is a hefty decline.

MY CUMULATIVE NET WORTH SINCE 2006 – 2011

I was in debt by $60,000 by late 2006 and now I’m at around $150,000.

I’ve saved $210,000 in 5 years or $42,000 a year on average, without working at all in 2009 (recession) or for most of 2011 (year-long traveling vacation).

Click on it to make it larger

I love seeing how money tells the story of my life. It isn’t just numbers or amounts of money or debt, it is what I’ve been doing since 2006.

TOP 5 CATEGORIES OF 2011 SPENDING

Travel = $17,325.34 or 28.88% of my gross income
Wardrobe = $6164.07 or 10.27% of my gross income
Groceries = $4169.66 or 6.95% of my gross income
Books & Gifts = $3323.17 or 5.54% of my gross income
Electronics = $2317.84 or 3.86% of my gross income

I obviously spent a lot on traveling, and wardrobe was up there too because I can’t resist shopping overseas *sigh*

(Must sell more stuff!)

As for Books & Gifts, it was more that I paid for a lot of stuff for my parents. I bought them a new TV (I accidentally burnt the side of their old one), and 3 huge toolboxes to organize their tools and items.

Electronics includes a Macbook Air and an iPad (WHICH I LOVE!). I use it for e-reading all the time now.

HOW I DID IN 2011 COMPARED TO 2010

I spent $20,000 more but amounts shifted from one year to another.

I spent less in Rent, but more in Travel (obviously), and WAY MORE in Wardrobe. *embarrassed*

2010 looked like this:

2011 looks like this:

READ: Cut everywhere, not just where you want to buy

I DECLARE 2012 TO BE:

THE YEAR OF RE-BUILDING NET WORTH

I am expecting that 2012 I will buckle down (hey, I’m setting a goal and saying this aren’t I) and rebuild back up what I spent this year.

Sounds counter-intuitive, and perhaps you’re going to slap me and say: FB why didn’t you JUST NOT SPEND in 2011 and you wouldn’t need to re-build as much!!?

Touché!

But what’s done is done, and we can only look forward, not back.

I also had a hell of a time (LOVED IT!), so no real complaints or regrets here.

My goal is to be back up to $200,000 in net worth.

A lofty, but achievable goal, considering I still have to pay hefty personal taxes.

Here’s to 2012!

How did your 2011 go?

The Fabulously Broke in the City Year 2009 in Review – $55,516

Fabulously Broke’s Retirement + Investment Primer – Pt. 3: Find your inner investing Evel Knievel

Fabulously Broke’s Retirement + Investment Primer – Pt. 4: What to look for in a mutual fund

Fabulously Broke’s Retirement + Investing Primer – Pt. 1: Terminology Basics

Fabulously Broke’s Retirement + Investment Primer – Pt. 5: The simple joy of the index fund

Fabulously Broke’s Retirement + Investing Primer – Pt. 2: Basic Retirement Must-Dos You Cannot Ignore or Put Off Anymore

If you are reading this on any other blog than Fabulously Broke in the City or via my RSS Feed, it is stolen content without credit.

You can contact me here or find me on Twitter via @brokeinthecity.

Come and visit my other blog: The Everyday Minimalist where I am living with less, but only the best!

December 2011 Budget Roundup = -$(1872.06)

FB @ FabulouslyBroke.com — Sun, 01 Jan 2012 06:00:44 +0000

More than a little awesome David Beckham action for you

Yes, it’s a shill for Pepsi, but frankly I am both surprised and not at all cynical that it is a fake and all this other BS. He is that good, period. He may have tried that shot 6 or 7 times (or more) before this actual shot, but he has done it!!

There was also an awesome Nike commercial with Tiger Woods hitting a ball in mid-air with a club, and they said he practiced for a long time before hitting it on target.

There are plenty of other great sports advertisements as well, but I won’t bore you.

OOO SUSHI!

May the force be with you

And this.. is just adorable.

It reminds me of my one nephew who is always greeting me in a costume of some sort (last time, he was a knight).

TARGET + FB = LOVE

I love Target. Period.

Check out what I picked up:

TARGET MAKEUP POUCH

I’ve been looking for one to hold my brushes, to not cost $25 for just a damn brush pouch, and to hold a few other things to use when I travel.

Enter this case:

I like that it has two ATTACHED pouches inside in mesh and in plastic. It’s perfect.

Then I focused on some Sonia Kashuk, namely brushes, concealer and eyeshadow.

SONIA KASHUK EYE ON FALL PALETTE

She had a Neutral one that everyone has been raving about, but the colours looked too dull and similar to each other (unflattering on my skin tone as well), and I already had the Urban Decay Naked palette, so I passed.

Surprisingly, these colours are very wearable to work and for the daytime. I am not a fan of very bright makeup, so this palette is great for $20!

The colours are quite pigmented, although it took 3 swipes to get these kinds of colours (no problem… I don’t mind swiping more or having to foil it by using water to make them look stronger)

SONIA KASHUK CONCEALER QUAD

I also picked up her concealer kit because everyone and their dog has been raving about it, and I’m a sucker for concealer.

I like it, but it is too light for my skintone in the end. I like the neutralizer and the powder a lot, but the other two concealers are too light, which means they’ll be better for the wintertime.

And now, I think have the perfect set of eyeshadows for someone like me, who enjoys wearing mostly neutrals, very slight/muted colours and wearing makeup mostly for fun and to work or in the daytime.

(No false eyelashes here… I am way too lazy for that!)

See? Perfect. Some of the colours overlap, but not many, and if they do overlap, some are less shimmery, etc.

I have a good and complete range here!

(Urban Decay Naked Palette on the bottom, Sephora Moonshadow In the Nude Baked Palette on the top left and the Sonia Kashuk Eye on Fall palette on the top right)

INCOME = $0

Zip. Zero. Zilch.
I will make up for this in 2012, I promise
SAVINGS = My Middle Name

EXPENSES = $4517.77

Took a little trip for a month to Texas to check out the weather in the wintertime, and I loved it!
Bought my dad one of his only gifts ever.. 3 toolboxes. Practical but expensive
Of course, I am not blameless.. I spent a little on makeup and clothes

NET WORTH = $155,217.05 which is -($1872.06) or a decrease of 1.2%

Cash = $117.67
Savings = $1616.10
Retirement = $57,332.20
Emergency Fund = $96,151.08

I maxed out my RRSPs for this year (I have extra cash that I might as well put to good use to help cushion my upcoming taxes of about $30,000 .. OUCH!).

I’ve also put some of my spare cash into investing now that I have a good idea of what I want to do in the future (move to the U.S.) but I can’t start contributing to anything there until I have some sort of visa status.

Thankfully, the index funds are doing well

I need to put in another $10,000 into TFSAs for next year too.

BEST POSTS OF DECEMBER 2011

FUTURE

I think I need to get rid of more stuff. Everything fits now, but I want extra space/room so it isn’t so.. well, bulge-y!
I am also going to stop buying presents for my family. Enough. They have a really nice TV, 3 toolboxes and they get free food & little gifts like 10 new bowls and loaf pans all the time.

November 2011 Budget Roundup + $3921.00

December 2010 Budget Roundup: +$20,355.57

February 2011 Budget Roundup = +$17,706.18

July 2011 Budget Roundup -($1853.29)

May 2011 Budget Roundup -($11,230.19)

September 2011 Budget Roundup -($15,277.09)

If you are reading this on any other blog than Fabulously Broke in the City or via my RSS Feed, it is stolen content without credit.

You can contact me here or find me on Twitter via @brokeinthecity.

Come and visit my other blog: The Everyday Minimalist where I am living with less, but only the best!

Are you upgrading your lifestyle, or simply trying to only buy quality items?

FB @ FabulouslyBroke.com — Wed, 28 Dec 2011 06:00:29 +0000

The problem I always have is this conflict between the struggle to NOT upgrade my lifestyle and to stick to being minimalist, which means buying much less but in higher quality.

Upgrading your lifestyle: is when you COULD live/make do with the cheaper option, but you choose the more expensive one.

Example: You decide to eat out in restaurants twice a month, rather than once a month.

Trying to buy quality items: is where you make a decision to buy less, but to spend more money so that you don’t have to keep replacing them.

Example: You decide to buy a very expensive, higher quality laptop rather than the quarter or half priced competitior.

Read: Why do we buy quality over quantity (The Everyday Minimalist)

The two are not necessarily mutually exclusive.

UPGRADING MY LIFESTYLE

So while I’d been quite happy staying at Motel 6, Econolodge and other similarly-priced motels, I am realizing it is not worth being cheap over something like that.

Even staying one night in those hotels yields a few observations:

You are more likely to be in the thick of the wrong element
You will probably hear prostitutes on occasion
There’s a lot more noise
They’re in bad locations (by the highway and/or train tracks)
They’re probably VERY drafty in winter

I am now at the point where I need to start staying at the Holiday Inn or Days Inn level when I travel, just one above Motel 6 or Econolodge.

I’m not going to start staying at the Hilton or the Marriott (still don’t feel like it’s worth it), let alone the W Hotel or the Four Seasons, but I have made a conscious decision to upgrade my lifestyle when I travel.

It’s going to cost me more, but the payoff I think, is worth it.

BUYING QUALITY

I used to buy jeans in the $20 – $50 range (mostly on sale), and the only pair I found that fit my flat butt well were originally $100 but marked down to $50 on sale. I wore them to death until I realized I needed to replace them.

I went all over town, to all the stores trying on jeans like a maniac in my price range until I threw in the towel and realized they didn’t exist. At least, not in this season.

So I waited another season.

And another.

Finally, I realized I’d never find them because most people seem to try to minimize or show off their butt, but not to enhance (their lack of) it.

Enter: Citizens of Humanity Amber Mid-rise Bootcut.

I went into a store on a whim, tried on a pair suggested by an associate and realized I couldn’t leave without them. They were THE jeans I’d been looking for, but the price tag was 4 times my original budget ($200, if you must know).

I reasoned a few things:

I only own and wear one pair of jeans — I don’t need or want variety
I am picky about my jeans — dark rinse, straight-legged or bootcut, mid-rise
I don’t like the fit of too-cheap jeans — too stretchy, too tight, weird decorations
I also don’t like how too-cheap jeans don’t last.. and LOOK too-cheap.
My old pair was almost due for the rag pile
I spent 3 seasons looking for cheaper jeans

So I bit the bullet and bought them.

$200 later, and 2 years down the road, I am still wearing them carefully, making sure not to let them drag on the ground and get that dreaded ragged hem look and I couldn’t be happier (except now I’ve lost more weight and I need to wear a belt with them).

COST PER WEAR: $200 divided by 1 year* = $0.55

*I’ve had them for 2 years but I am assuming that half the time I WASN’T in jeans

That, is an example for me, of buying higher quality items that will last. It’s just a shame I didn’t wait another 2 more seasons because H&M came out with a Premium Denim line that I really like, and their jeans are right in my price range of $50.

Alas.

SO WHAT ARE MY DECISION FACTORS?

UPGRADING MY LIFESTYLE FACTORS:

I can’t stand the cheapest option any more
I feel like I’m financially able to upgrade without feeling the pinch

Things I’d upgrade my lifestyle for, depending on the price difference:

Healthcare: I own a $25 toothbrush when I get a TON of free toothbrushes all the time — worth it!
Staying in Inns, not Motels (see example above)
Considering an apartment with an ensuite washer/dryer and dishwasher
Driving a slightly better car — still secondhand, but perhaps not quite as rusty

Things I would not upgrade my lifestyle for:

Eating out in restaurants more often — as a consultant, you’re sick of it
Taking cabs if I have an option to use public transportation — $2.50 a ticket versus $25 cab fare
Going to spas and having facials more often — they feel great but ultimately are not my thing
Staying in high-end hotels when mid-range ones will do just fine

BUYING QUALITY ITEM FACTORS:

I consider how many times and how long I will use it for
I ask myself objectively if it will be the only item I’ll use
I consider the final price including taxes versus the cost-per-use
I ask if it’s worth it — a $2000 swimsuit is not as compelling as a $2000 winter jacket

Things I’d buy quality items for:

Food: I buy organic when it makes a difference (bananas & avocados = no difference)
Electronics: Laptops, hard drives and anything with a disk in it
Shoes: Walking in cheap shoes and getting blisters/pinched toes is not worth it
Pens: Have you ever had a cheap pen explode all over your hands? Yeahhhhh.
Purses: A beautiful purse can last a lifetime and you won’t hanker after buying a million substitutes
Cookware: Cheap cookware is not worth it, it will crack and need replacing
Tools: Have you ever had a high quality screwdriver snap on you? Me neither.

Things I would not buy high quality items for:

Medicine that has a brand name: Frankly, cheap aspirin works the same as pricey ones, I match the ingredient labels though!
Jewellery over $100 — Forever 21 has pretty options and my ceiling seems to be $100
Suits — only because I don’t wear suits to work, only to interviews; if I wore suits daily, I’d spend more
Low use/Basic use items — Dish racks for instance, do not need to be high quality
Dishes, Cups, Plates — $1 ones work just fine for me

So what would you upgrade your lifestyle for?

Overspending? Watch out for these triggers!

Would I change my view on money if I made less?

How to achieve lasting wealth

Cutting back on things you love

Are you suffering from frugal or debt fatigue?

Business Casual Wardrobe on a Budget

If you are reading this on any other blog than Fabulously Broke in the City or via my RSS Feed, it is stolen content without credit.

You can contact me here or find me on Twitter via @brokeinthecity.

Come and visit my other blog: The Everyday Minimalist where I am living with less, but only the best!

Would you rather have more time or more money?

FB @ FabulouslyBroke.com — Fri, 23 Dec 2011 13:00:13 +0000

I’m sure we’d all scream: BOTH! BOTH! like kids in a candy store, but if you had to choose one over the other what would it be?

When I was in debt, I wanted more money. I didn’t care about hours, burn out, being frustrated, stressed, tired and annoyed all the time.

I was in debt and I wanted out.

Now that I’m out of debt, I want more time.

Time is one of those tricky resources. It’s so finite.

You can always make more money but you cannot get back the time you’ve spent working or wasting your life away.

I know it’s silly to hear me say “you can always make more money” when I personally know of 5 cases where that is not true, and they’re struggling to make ends meet, but I wonder about the situation:

Can they really not even pick up a part-time job on the weekends or at nights?
Are they being too picky about what’s being offered out there? (No, seriously)
Did they just live the high life for 20 years only to see it crash down around them, with no emergency savings?

These are all factors that are not far off in my 5 case scenario above. Every family/couple/person I talked to, said: I only wish I had saved more money aside for emergencies.

So those people? Yeah, they want more money.

Me, I’m happy to be able to have the choice of choosing between both, and willingly going with time.

What about you? Money or time?

How much time do you spend on budgeting or thinking about your money?

Don’t waste your time stressing about making more money

Time and Money Hacks

Shopping strategies to save money, time and space in your wardrobe!

Save money at tax time for free…

My First Money Manifesto: Never be in the dark about your money

If you are reading this on any other blog than Fabulously Broke in the City or via my RSS Feed, it is stolen content without credit.

You can contact me here or find me on Twitter via @brokeinthecity.

Come and visit my other blog: The Everyday Minimalist where I am living with less, but only the best!

Fabulously Broke in the City » Money

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Total = $315

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The TOTAL? Around $250

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The Fabulously Broke in the City Year 2011 in Review = – ($30,138.59)

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This crazy ones poster‘s profits go to Acumen Fund‘s mission to end worldwide poverty.

2011 FINANCIAL YEAR IN REVIEW

2011 Budget Roundups and Net Worth Changes

TOTAL INCOME FOR 2011: $59,260

TOTAL BUSINESS & PERSONAL EXPENSES FOR 2011: $44,618.92

PERSONAL EXPENSES: $41,525.66

BUSINESS EXPENSES: $3093.26

TOTAL NET “SAVINGS” FOR 2011: $18,474.34

FINAL NET WORTH FOR 2011: $155,217.05

MY NET WORTH FOR JANUARY TO DECEMBER 2011

MY CUMULATIVE NET WORTH SINCE 2006 – 2011

TOP 5 CATEGORIES OF 2011 SPENDING

HOW I DID IN 2011 COMPARED TO 2010

2010 looked like this:

2011 looks like this:

READ: Cut everywhere, not just where you want to buy

I DECLARE 2012 TO BE:

THE YEAR OF RE-BUILDING NET WORTH

How did your 2011 go?

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INCOME = $0

EXPENSES = $4517.77

NET WORTH = $155,217.05 which is -($1872.06) or a decrease of 1.2%

BEST POSTS OF DECEMBER 2011

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Are you upgrading your lifestyle, or simply trying to only buy quality items?

UPGRADING MY LIFESTYLE

BUYING QUALITY

SO WHAT ARE MY DECISION FACTORS?

UPGRADING MY LIFESTYLE FACTORS: