The other day, my wife and I were reminiscing about our first two years of marriage. We lived in a nice Yorkville condo with fairly low rent, our monthly grocery bill was around $300 if that; we had to be careful about what we bought because too much produce would go bad on the counter. We only needed one small car, it was great on gas, and we really only took it out when we went on vacation. And we got to go out to eat all the time; a conservative estimate was three times a week.
Fast forward ten years later, and everything has changed. It is actually hard for us to believe that we were not broke back in those days. Although we both make more money, we can barely afford to go out and eat once every two weeks, let alone multiple times in one week. We pay a high mortgage for our piece of real estate in Thornhill Ontario, and we are making two payments. What on earth happened?
Children, that's what! Our unit of two has multiplied to six, and that has meant some extreme upgrades in our lifestyle. We need more room in a house, more room in a vehicle, more vehicles, and a lot more food. We need more gas, spend more on heat, and of course there are lessons, toys, and trips to see grandparents in their Toroonto condos.
And our kids are still pretty young! We have learned that the only way we are going to survive this time in our lives without going bankrupt is to be very careful about where, how, and when we spend. Penny pinching has become a mindset for us, and it applies to every single thing we do.
Because we pay careful attention to our money, we are relatively secure financially. It took some effort, but we have evolved an attention to detail which has really helped us keep money in the bank. We started out by making a serious list of the things which we found we were buying most frequently. Diapers, pull-ups, and other baby items were at the top of the Most Expensive list. We found that by knowing what cheap prices were for these items, we saved a lot of money every month. If you have a Costco or a Wal Mart near to your home in Armour Heights, make some quick notes on diaper prices. When they go down, don't be afraid to spend extra money and stock up. It will save you a lot in the long run!
That principle applies if you live on Vaughan real estate or anywhere else. Know what you spend the most on, and find out where to buy it for the least amount. You'll save yourself a ton.
|