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Author Archives: Kristina Tahnyak

Avatar photo About Kristina Tahnyak

Tahnya is a Certified Financial Planner and former Investment Advisor turned marketing and communications professional She holds a degree from Concordia University, is debt free and currently works in the field of digital marketing.

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Weekly roundup: Help I’m sick!

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Good morning Dinks.  I had another doozey of a week.  I’ve been sick for over 10 days.  Three weeks ago I went to my doctor with a sore throat and he told me that I had an ear and throat infection.  Enter 10 days of antibiotics.

Usually I love taking medicine because it means I’ll be feeling better soon and always a good thing.  I’m sick a lot.  A lot.  Thanks to Canadian health care my doctor visit didn’t cost me a single penny and thanks to my employer drug plan the pills and cough syrup only cost $23.  Not so bad.

Being sick is not fun

The next day I started feeling a bit better, but I guess that was all in my head because the day after I took a turn for the worst.  I have been flat out in bed for two weeks and I can’t keep any food or drink down.  That’s the thing about antibiotics, they’re strong.  You are supposed to take them with food because they’re harsh on your stomach.  But you don’t feel like eating because you’re so sick.  If  you’ve ever needed antibiotics for an infection you know exactly what I’m talking about.

So how does a new employee and a self employed person with deadlines and contracts deal when she’s sick?  You just keep going.  As you may remember I started a new job less than three months ago and I have my own freelance work on the side.  Being off work for 10 days is not really the first impression I want to make and if I don’t get the freelance work done I don’t get paid.  Being self employed is great, but there are also some downfalls.

Being sick is boring

I’ve tried to push through the sickness but lately it’s really got the best of me.  I’m taking a lot of warm baths, drinking a lot of cold beverages and trying to rest as much as I can.  However I’m not sure it’s working out too well.  I’m also not sure what kind of virus lasts for three weeks and doesn’t get cured by antibiotics.

Every night when I go to sleep I tell myself I’ll be better in the morning, it’s more optimistic than realistic but at this point I’m willing to lie to myself and trick my body into feeling better.  Does that work?

Do you have any home remedies?

How do you deal when you’re sick?  I would love to know.  Please send over any home remedies and potions you have from your parents and grandparents.  Prescribed medication doesn’t seem to be working so now I’m willing to coax up my own potion in the kitchen.  Any and all help is much appreciated.

 

Why spend more when you can spend less

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good deal, frugality, thrifty living

good deal, frugality, thrifty living

As a financial planner I’m always looking for a good deal.  It doesn’t mean I’m cheap and it doesn’t mean I don’t have money.  All it means is I don’t want to waste my money.  As long as I’m clean, smell good and aren’t hungry I’m happy.

When I say I don’t want to waste money what I’m actually trying to say is that I hate wasting money.  If I overpay for anything – even if it’s $5 – I get mad, actually I get angry then sick and it bothers me for days.  Over the years I’ve learned to plan ahead and avoid a few things that help me spend less and avoid overspending.

Ways to save on everyday items

Daily spending is probably the biggest way Nick and I waste money, or at least we used to.  Now we plan our shopping list ahead of time and coordinate our spending.  We plan our meals for the week to make sure there’s always food in house, this helps us avoid the temptation to spend money on eating out.  Once we’ve made the  grocery list we look online for coupons.  We also scan the weekly flyers to see what’s on sale and use that as a starting point to plan our grocery list for the week.

We try to buy our household items such as cleaning supplies and other necessities at discount places like Wal-Mart.  But if we can’t make it to a big box store for the discounts we try to buy small quantities at cheap prices until we’re able to buy larger quantities in bulk.  Sometimes this means buying a no name brand and sometimes it means shopping at places we normally wouldn’t, just to tie us over.

Being smart with money isn’t being cheap

I choose to spend my money wisely, not waste it.  Of course we can all have more money but my income isn’t preventing me from doing anything.  I find ways to do everything I want and that’s because I do it wisely.  I mean why should I spend $400 on a hotel room in New York City when I could get the exact same room for $145 through a discount travel site.

Doing what you want to, especially when it comes to travel, is all about looking for the best deal.  That doesn’t mean booking a hotel room at the cheapest price, it just means not overpaying for travel accommodations.  In my opinion spending more than you need to is not smart money management. Why spend more when you can spend less.  That’s what I always say.

Let’s just set the rules straight about saving money and being smart with your money.  Low cost doesn’t mean it’s worthless.  Being frugal doesn’t mean you’re broke and being economical doesn’t mean you’re cheap it – just means you have good financial cents.  Good.  I’m glad I got that off my chest.

How do you save money?

 

What’s your biggest pet peeve?

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pet peeve, bad habits, upsetting

pet peeve, bad habits, upsetting

Good morning Dinks.  I’m not sure what it is about this week but people are really getting on my nerves.  Do you ever have one of those weeks?  A week where you just can’t bear to be around people for too long.  Thank goodness I work alone online.  Sometimes it’s lonely, but this week I’m thankful for it.  Maybe I’m working too much, maybe I’m just growing into and old grouchy woman or maybe I’m just having a bad week.  Either way it seems like I can’t just get some peace of mind.

Most of my personal pet peeves include waiting because I’m extremely impatient and money because I am extremely cautious with my spending thanks to previous bad habits.  What are your pet peeves?

People who never follow through

I hate people who lie, mostly because it means I’m relying on someone and my plans get messed up because they don’t do what they say they will.  I hate that.  I guess the easy thing to do would be to not rely on people, I guess I’ll have to work on this.

This especially bothers me when it comes to money.  My employer has been saying I’ll get a corporate credit card for several months now but I have yet to receive one.  In the meantime I am stuck paying all my travel expenses out of pocket and waiting three weeks to be refunded.  Not the best laid plans if you ask me.

Don’t count change in front of me

This is one of my biggest money pet peeves.  I always feel people are cheating me when it comes to money.  I know paranoia is not a cute quality and always being suspicious of everyone is not a great way to live, but I can’t help it.

I was taught to always be cautious, when you combine that with the fact that I’ve been screwed over a couple of times (O.K. maybe five) by friends, family and co-workers it makes me think that everyone is out to get me.  When people don’t count change in front of me it makes me have to recount it myself and that really bugs me.

This week I wasn’t in the mood for any shenanigans so when the bank teller didn’t count the money in front of me I asked him to take it out of the envelope and recount it.  Yes I admit it probably wasn’t the nicest thing in the world, but like I said I was in a bad mood.

Overpaying and only realizing it after I leave the store

Overpaying for items is like losing money and I hate losing money.  This is why I pay very close attention at grocery stores, pharmacies and anywhere else I make big purchases.  I watch the screen as each item is scanned to make sure it’s the correct price, however this means I am not watching the person who is bagging my items.  I know this sounds crazy because why would someone want to steal my paper towels or apples, but again I’m a bit paranoid.

 

Money and Relationships in your 30s

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money, relationships, finances, couples finances

money, relationships, finances, couples finances

I know a lot of people like to compare their money habits to their weight loss philosophy, but I like to compare them to my relationship.  Take a second to think about that, do you treat your money like you do your spouse?

Nick and I met when we were 19 and now that we’re 35 both our relationship and our money has evolved quite a bit over the last sixteen years.  We are more strict with our money and our relationship has grown stronger because of it.  We used to have a lot of arguments over how to spend our money and thank goodness our spending habits have died down over the years.  As have our social habits which helps our spending.  Has your relationship grown with your money?

Have your spending habits changed?

We no longer feel the need to go out partying on the weekend.  We’re happy to stay home and have low key weekends together or with friends.  The exact same thing is true with our money.  We live a simpler money life and we’re happy just having enough.  We no longer crave the high life.

This is weird because when we did want to be ballers we had no money and now that we could afford to do it if we wanted to we have no interest.  I guess that means we’re getting older.

Where do you spend your money?

That’s the great thing about finding your happily ever after in your 30s; you know when it’s right.  In your 20s you may be looking for love in all the wrong places and end up settling for someone who is less than your perfect match because you don’t want to end up alone.

The same is true for your money.  In your 20s you may be spending money carelessly on materialistic things that don’t matter.  In your 30s you look for quality, not quantity.  In your 30s you know who you are and what you want.

Did you learn from your mistakes?

Even though I thought I was mature in my 20s I didn’t actually realize it until very recently.  This is the type of maturity that happens in 30-something’s relationships.  Talking about money before you move in together helps make the transition a lot smoother and avoids a lot of stress down the road.  Any couple who never had the money talk before they moved in together knows exactly what I’m talking about.

Reality is not everyone is good with money, but we can learn from our mistakes as we get older.  The great thing about being in a relationship is that we have someone to rely on.  Someone who can make us think twice before spending money and someone who can help balance out bad habits with their own good ones.  Yes comfort is a big advantage of being financially responsible and in a relationship in your 30s.

 

 

Weekly roundup: Finding $600 and $1 trip to the dentist

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Happy Friday Dinks.  Remember when I first started this weekend roundup and I wasn’t sure it was going to be sustainable because honestly, how many interesting things can happen in one week.  Well there’s never a dull moment in my life – and that includes my money.

First I couldn’t check into a hotel

Remember last week when my credit card was frauded?  Well Nick and I still haven’t received our replacement cards and I had to go out of town on business for three days.  Not only could I not show the booking credit card at the airport but the hotel gave me a hard time at check-in because I didn’t have the card with me.

I did have another credit card and obviously the name on the booking matched the name on both my identification as well as the new credit card but it still took a managers approval to allow me to get into my room.  That was Monday.

Then I forgot about money

That was a nice little surprise.  Very unlike me, but a nice surprise nevertheless.  I checked my bank accounts on Tuesday morning as I always do (everyday) and there was an extra $600 in my checking account.  To say that was a lovely surprise is an understatement.

It’s also making me wonder if I should update my accounting system or get my memory checked. I have a goldfish memory but I usually remember everything when it comes to money.  This is still bothering me, but I know I should be happy.

I overpaid at the dentist

Yesterday when I got back home from my business trip I made a dentist appointment to get my teeth cleaned.  I didn’t actually feel like going to the dentist but I already rescheduled the appointment three times so I decided to stick with it.  I am not one of those people who hate going to the dentist, don’t get me wrong I’d rather be doing other things, but I don’t hate it.

My dentist makes $287 every 30 minutes.  What other type of profession makes that kind of cash?  Yes that’s right my half an hour teeth cleaning cost $287 which means my dentist makes $9.56 per minute.  Not a bad day job.

When I got to the reception I submitted my insurance information and after the 80% my employer covers was eliminated the woman told me that I owed $1.  I asked how this was possible.  It turns out last time I came to see my dentist I overpaid and now I had a credit on file.  That is also very unlike me – twice in one week.  HUH.

Not only do I never usually overpay for anything, it’s also weird that I didn’t realize it.  Either I’m going crazy, I’m starting not to pay attention or I’m slipping off my money game.  I’m not sure which one it is, but I better get back on track.  There can be a ton of people out there who owe me money and I don’t even know about it.

Money Savvy: Nature vs. Nurture

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money habits, money savvy, financial habits

money habits, money savvy, financial habits

Good morning Dinks.  Do you think good money habits are learned or are we born with them?

I think it’s a little bit of both.  If money habits are truly learned then everyone in their 30s or older would be good with money, but unfortunately that’s not the case.  Or is it?  Maybe everyone is good with money and they just get into financial trouble because they’ve had a string of bad luck.  Could that be it?

Did you learn to be money savvy?

I definitely think some money habits are gifts from nature, just like sports abilities or natural intelligence.  I’m not sure why some people are naturally good with money and others aren’t.  Maybe we are born with a money gene – can that be?

For me money was nurture versus nature.  I made mistakes over and over again until I finally learned from them, but maybe some people are just financially savvy right from the get go.  I think my ability to learn from my repeated mistakes is a bit of natural instinct because I wanted to be better.  Wanting to learn and be a better person is not a quality you’re taught, it has to come from within.

What if everyone was good with money?

What type of world would we live in if everyone who made a financial mistake learned from it and no one ever had any bad luck.  We would live in a perfect money world, loans would never be for financial troubles or consolidation they would be for assets such as homes, cars and college.

Financial bankruptcy wouldn’t exist and credit cards wouldn’t earn interest because all balances would be paid off in full each month.  What would that world be like?

But what about greed?

Ah the root of all evil.  Is greed a learned behavior?  I would like to say yes because I would hate to think people are born with this ruthless quality.  I think we learn to want more because when we’re born we have nothing, we haven’t had a taste for the good life yet.  As we get older and see all the things money can buy we become addicted and learn to want more.  Do you agree?

How did you learn to be money savvy?

I learned the hard way.  I got into big debt twice and almost filed for bankruptcy, but didn’t.  Instead I brushed myself off, stood back up on my own two feet and did whatever I had to to pay off my debt.  Within reason of course.  I stopped spending, started to live on less and got a second (then a third) job.

Of course I could have went another route and started to steal, gamble or cheat to get money, but I didn’t because I was raised better than that.  Neither one of my parents are particularly wealthy but they both have enough.  They came from nothing (big, poor immigrant families) and made a life for themselves – first together then separately.  I think my money habits have definitely been learned. What about you?

Financial advice for a happy marriage

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happy marriage, financial advice, couples advice

happy marriage, financial advice, couples advice

Good morning Dinks.  How is the money in your marriage?  I know a newlywed couple who just got married after only dating for a year and they immediately merged their finances.  When I asked the husband why they did that he said “Because that’s what you’re supposed to do.”  I don’t know how I feel about that comment.

Is that what people think marriage is?  The best financial advice I can give for a happy marriage is to do whatever works for you as a couple.  Nick and I have been together for almost sixteen years (in August) and we only recently opened a joint bank account, we also still maintain separate checking accounts and investment accounts.  Some couples may think this is weird but it works for us.

What financial advice can you give to couples when it comes to marriage?

Marry someone with more money than you

With TV shows like The Millionaire Matchmaker how can you not want to marry and have all your financial worries come to an end.  I know a woman who did just that.  She wasn’t necessarily looking for someone who was rich, but having money and being financially stable was definitely on her deal breaker list.

f I was rich I personally would never go on a date with someone who was just interested in money, but that’s just me.  It’s not to say that the person won’t eventually truly fall in love with you, but you’ll always know that money was the first attraction.

Don’t marry someone with debt

Amen to this piece of advice.  As someone who has been drowning in debt (twice) so much that I literally couldn’t breathe I can tell you first hand that people with debt are a total mess.  This is my one piece of financial advice for a happy marriage.

In my case debt was just one part of my life that was spiraling out of control and I was in no state mentally or emotionally to commit to a relationship (if I wasn’t already in one).  Then there’s the actual financial burden of having to use your salary to make debt payments, that puts a huge strain on a relationship.

Keep accounts separate

There is absolutely no need to rush into merging your bank accounts.  I know some couples see it as a sign of trust, but trust me money can get messy if you are still getting to know each other’s personal habits.  If you’re a saver and your spouse is a spender it’s better to realize it before the money is merged and before it can cause any real damage to your financial situation.

Talk about money

This is another great piece of financial advice for a happy marriage.  Nick and I never talked about money early on in our relationship and now that we talk about it all the time our relationship is better (and stronger) for it.  A lot of problems can happen in a marriage when there’s a lack of communication and this includes talking (or not talking) about money.

 

5 things that are worth the cost as I get older

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expenses, worth the cost, pamper, treatment

expenses, worth the cost, pamper, treatment

Good morning Dinks.  Let me ask you a question, is your taste evolving as you get older?  Mine is.  I can’t decide if it’s out of necessity or out of maturity but either way I find myself spending money on things that I normally wouldn’t spend money on.

Do you spend more money now than you did 10 years ago?

Cabs

This is the biggest change I’ve noticed now that I’m almost 35 years old (in October).  10 years ago I would walk anywhere and everywhere – even in the rain – to save $5.  Now I don’t think twice about dropping $10 on a cab ride home from the movies.

Nick has jumped on the Uber bandwagon and loved his experience.  I have yet to try it because I’m not 100% sure it’s safe for a single woman to travel alone.  Have you tried Uber yet?

Spa days

I am obsessed with relaxing.  I love going to spa because not only does it let me take a break from working 24/7 between my 9 to 5 and freelance gigs, but you also have to unplug.  I am usually glued to my phone (which I don’t necessarily like) so the fact that I HAVE to turn it off while spending a couple hours at the spa is very nice.

I also find the whole ambiance of spas very relaxing.  It’s quiet, it smells good and it’s just a place to rest my head, detox and regroup.  I like to buy my spa treatments on Groupon because I can usually get $120 gift certificate for only $60.  Who doesn’t love a relaxing day at the spa when it’s half price?!

Doctor appointments

Last week I called my dentist to make an appointment and when she proposed a time and date I had to double check my calendar to make sure I was free.  I said “Oh no I have a chiropractor appointment that day and I don’t like to have more than one doctor’s appointment in the same day because it makes me feel old.  So let’s rebook.”  Not only did the receptionist not laugh at my joke, she actually completely ignored my comment and just suggested another day and time.  Huh.

Glasses

I went for my two year eye exam earlier this month and just picked up my glasses a couple of days ago.  My prescription is so strong that it takes two weeks to make and costs $850.  Unfortunately this is the reality of my life.  As I get older my vision gets worse and my glasses end up costing close to a thousand dollars.  This is definitely a necessity.  I don’t buy designer frames because the frame is the way I can keep my costs down.

Travel

Ten years ago I had never even been on a vacation that wasn’t with my family.  Now that I’m in my 30s and have a full time job I enjoy travelling whenever I can.  I’ve got to see things and travel to places I never even dreamed about in my 20s.  I never thought about travelling because I just couldn’t afford it.  Now I’m glad I can because I didn’t know what I was missing.

 

Weekly roundup: I had a breakdown in Bed, Bath & Beyond

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Happy Friday Dinks.  We are about to get in to the difference between men and women when it comes to home decor, shopping and mental stability.  Earlier this week Nick and I decided to take a trip to Bed, Bath & Beyond so we could finally start decorating our apartment.

We’re starting to decorate our new apartment

When we moved back in October and since we needed to buy so much new furniture we decided to wait until spring to start decorating.  Well spring is now here and I’m in full Flip This House mode.  I’ve been searching staging websites and looking around Pinterest to see how I want our new apartment to look.

Once I found the color scheme I want for our living room and bedroom (the kitchen and bathroom will be done another time) I took screen shots of our new decor – which I was copying from someone else’s home – and headed off to Bed, Bath & Beyond to get some decorating essentials.  We needed things like art for the walls, big mirrors, pillows and a new bed spread.

Shopping is supposed to be fun right? 

Well it wasn’t, which is the first contributing factor to my mental and emotional breakdown.  I couldn’t find anything I wanted let alone anything in the pictures I brought.  Nick picked out a rug he liked for the living room and threw it in the cart, this right here is the first difference between men and women when it comes to shopping.

Women plan how they want a room to look and we want it to be perfect.  Men choose any old thing they like and assume it will match with all the other things they picked on impulse.  No guys, that’s not how it works.

Why don’t men just know what we want?

I was trying not to be a crazy girlfriend so instead of telling Nick I didn’t like his choice of rug a.k.a it wasn’t the one in the picture (which he knew about) I decided to linger around the shopping cart staring at and touching the rug until he figured it out on his own.  Yes, that makes me seem less crazy right?!  Here is the second difference between men and women when shopping.  Girls won’t straight up tell you your choice sucks whereas men will tell you if they don’t like something we’ve picked.

When he asked if I like the rug I said “It’s O.K.” hoping he would realize it’s not the one I wanted.  Then he said “But I didn’t measure the size of the room so maybe we should just come back another time.”  This was the seconding contributing factor to my mental breakdown.  We’ve already been waiting six months to decorate and I just want it to be done.  I immediately burst into tears and Nick looked around wondering if someone had just run by and punched me.

The outcome of my mental and emotional instability

“What’s going on?” He asked and I (without control) started yelling and sobbing about the rug.  He said “O.K. we’ll get the rug.”  I didn’t want the rug but I also didn’t want to leave without anything and come to a still empty apartment.

And there you have it.  We now have a $169 rug in our living room that looks really nice and matches perfectly but is way too small for the space.  This was our money week.

Are you underpaid?

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underpaid, salary negotiation, salary rate

underpaid, salary negotiation, salary rate

Are you?  Take a second and really think about the question.  If you go to work every day and give it your best effort are you really being paid what you’re worth?  I think most people would say no.  Even those who are self employed may think they’re not always paid what they’re worth.

Maybe this is just how the game goes.  We usually agree on an annual salary or an hourly rate for services rendered before we actually start working.  Therefore we don’t know exactly how much work is involved until we’re already on the job.

I think I under-valued the last two freelance contracts I started.  I gave my usual hourly rate, but both jobs ended up being a lot more work than anticipated.  Now I’m stuck with a job to do, a signed contract and a boat load of unexpected work.  So what do I do?

I can try and renegotiate the rate of pay but that may seem unprofessional and as both jobs are ongoing (not on a per project basis) I don’t want to shoot myself in the foot.  On the other hand I don’t want to devalue myself and my services by accepting a lower rate of pay for superior quality work.  If you are self employed how do you increase your rates with ongoing clients?  If you work a 9 to 5 how do you ask for a raise?

Maybe it’s based on the number of hours you work

Unfortunately I learned this lesson the hard way, but at least I’ve learned.  For the next contract I will tell the client the rate is agreed upon for the statement of work on a one month trial period.  We will evaluate the workload afterwards to make sure the stated amount of work is actually the amount of work required.  Of course everyone wants to get great work done at a cheap price so I by no means blame the client for understating the amount of work involved.  I just learned to negotiate differently next time.

Should your rate of pay be evaluated on the headache involved?

I am a works best alone type of person.  I like to work a specific way and I very rarely like to work with other people.  Not because I’m a crazy weirdo, just because I like to get in my groove, produce the work asked of me and move on.  Oh and I like to do it on my own schedule.  This is why I’m a consultant and not a manager.

When you have to deal with other employees it adds a whole other level of stress into the work involved and therefore you should be paid accordingly.

Maybe a salary is determined on the skills required

In my opinion this is one of the contributing factors that allows employees to negotiate their salary or rate of pay.  Additional education requirements narrow down the job candidate pool; the more elite the sampling the higher the pay should be.  If I spent four years getting a college degree and two additional years obtaining my financial planning certificate I bring a valuable skill set to a job and therefore I should be compensated for it.  Wouldn’t you agree?

 

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