Thrift

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The Best Kind of Fun

May 19, 2009 in Home Economics, Thrift | 4 comments

One of the most interesting facets of the new “culture of thrift” is that the cheap-o things I already like to do have become popular with a much wider group of people.

I’ve spent years thinking about and implementing ways to spend money efficiently - that is, to get the results I want for the least amount of cash. I routinely calculate the cost per serving of the meals I make, and I have long used Amy Dacyczyn’s “cost per wow” factor in making spending decisions (things that give me a big WOW for the cost are worth it!).

It isn’t that I count every penny – I don’t – but I get a lot of enjoyment, strange as this may sound, Read the rest of this entry »

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“Not your Grandfather’s Recession”

May 15, 2009 in Retirement Planning, Savings, Thrift | No comments

New survey data, just released in the US, finds that it is a good time to be over 65 or younger than 30 – but not such a great time to be somewhere in the middle.

The New York Times today reported data from the Pew Research Center which finds that senior citizens have generally been protected from the effects of the recession in the US, as have younger adults.

“The most vivid finding to emerge from this survey is that older Americans — most of whom have already retired and downsized their lifestyles — have been far better insulated from the current storm than those who need to worry about keeping their jobs and building up diminished retirement accounts,” write Rich Morin and Paul Taylor of Pew Research in their report “Not your Grandfather’s Recession – Literally.”

This finding holds true in Canada, as well. Recently-released consumer data from ad agency Bensimon Byrne (in their quarterly Consumerology report) show that while a national “culture of thrift” has emerged for Canadians, Read the rest of this entry »

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“Redefine Retirement” - and conquer your fears of becoming a bag lady

April 26, 2009 in Financial Planning, Investing, Retirement Planning, Savings, Thrift | 1 comment


You probably already know that the shelf at your local bookstore has a whole section on retirement, and most of the books have titles like “The Retirement Time Bomb” and “Smart Women Finish Rich“.

Those titles are meant to be motivational, but they might only motivate you to avert your eyes when you walk past that section of the bookstore, thinking if you aren’t among the “smart women” who “finish rich,” you will…get blown up by a Retirement Time Bomb?

Read the rest of this entry »

Hey babe, what’s your number? The Big Secret of retirement planning

April 26, 2009 in Families, Financial Planning, Home Economics, Investing, Retirement Planning, Savings, Thrift, Uncategorized | 3 comments

whats-your-number-300pxwhats-your-numberThis is the question that has been floating around me, in the air, over the last few months. People ask me this question, they tell me they lie awake contemplating it, and they want to know if I know the answer: how much money do they need to save for retirement?

What is the exact number of dollars they need to have socked away in retirement savings accounts to fund a post-work life that works?

A life that includes some luxuries, some long-hoped-for travel or the freedom to immerse themselves in a favourite hobby, while ensuring the kids (if there are kids) are fed and educated and Read the rest of this entry »