I would maximize my TFSA, pay back my HBP (Home Buyers’ Plan), make an annual mortgage pre-payment, double my mortgage payments, give a portion of it to my family members, invest the rest, and have a nice Chinese meal somewhere to celebrate.
My dream for today 🙂
They say the more money you have, the more you get. Sometimes I believe in it. I also believe that the more I think I do not have money, the more I find myself spending… What an interesting dilemma….
Years ago when my finances was really low (I was kind of like a student), I had read somewhere that we must set our subconscious mind right. Upon a suggestion I read in a book, I put a number of coins in a glass container and placed it in my kitchen window. Each time I pass there, I made it habit to say “I have money“. It felt good and I can say that year I saved the most money I have ever did until then even though the money I made was quite tight 🙂
Since it is new year and my budget is more or less in check, nowadays I am feeling in control of my finances. Yet, we have got some extra taxes implemented in the new year and also our pension plan contributions have been increased by our workplace, so my salary as of new year is less than last year. I am determined not to lose track or my saving momentum, but considering how already and significantly I have cut my expenses in the last 1.5 years, I for a moment lost my hope and started to feel like I was financially restrained again.
Then, I thought about the people who have survived the war times or the great depression and I knew that I could still cut out expenses should I wish so. I can cut my coffee in half (currently having 5 cups on the average every day), refrain from buying clothes/shoes/boots for many years (I have plenty), change my diet (not necessarily into an unhealthy one, but a more frugal one), use regular flour rather than bread flour for my bread, stop treating/gifting my coworkers and friends, learn to grow veggies in my yard, stop dying my hair, sew better, stop miscellaneous gifting, stop socializing at expensive restaurants, stop wasting food and every other item in my possession and find ways to re-use them, find alternative ways to enjoy rather than writing on notebooks with fine pens, and so on and on….
Come to think about it, some of them are not bad idea (like cutting my coffee consumption – too much of anything is not good anyhow). I am quite bothered by waste, especially the food waste and still have some fresh produce stalling in my fridge… argh… (I should go back to shopping as required rather than weekly store visits). I can also switch to regular flour (which is cheaper than the bread flour) in my sourdough loaves. I can pay more attention to sewing techniques and start sewing myself blouses (which is my primary aim now).
The point is that there seems to be multiple levels of saving. The life circumstances can challenge us, but there is usually more to change and more to save. Hopefully without reducing the quality of life and hurting our health.
Hey, maybe I should thank those extra taxes and pension contributions. They stretch my mind and imagination 🙂