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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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My Bad Money Habit

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bad money habit, spending money, overspending money

bad money habit, spending money, overspending moneyYes it’s true.  I’m a financial planner and I have a bad money habit. Can you believe it?  The truth is I don’t always practice what I preach, actually I should say that I don’t always believe in what the bank wants me to tell clients.  Yes, that’s how I should say it.

So what do you think it is?  You know I used to be in a lot of debt, do you think I fell back into my old habits?  I never really mention any vices here, do you think I’m about to confess to an extreme addiction, a la Rob Ford (he’s Canadian too)?  Or maybe I spend my money carelessly on a lifestyle fetish such as latex, do you think that could be it?

It’s no secret

I’m sure the suspense is killing you.  No I didn’t fall back into my old debt habits, no I don’t have a drug dependence and no I’m not into anything relatively close to 50 Shades of Grey – or so I’ve heard because I haven’t actually seen the movie or read the book.  I spend money.

Yes that’s it.  I preach everyday about the importance of saving money for your short term goals and for your future and I don’t even do it, well at least not as much as I should.  What do I do with my money?  I spend it.  That’s my deep dark financial secret, I spend money, more than I should…and I don’t care.  Does that make me a hypocrite?

I know I shouldn’t do it

Some may say yes.  However I don’t see it that way.  In my life from 9 to 5 I tell clients to spend what they need to and save all the rest because it’s very very important to save for your future.  That’s my professional life.  In my real life I like to enjoy my money.  I live in an apartment that costs more than I should be paying for rent, I like to eat out because it’s better than anything I can cook and I like to travel as often as possible.  I spend money, so what?  It’s mine and I can spend it if I want to, right?

Well some people would say no.  Some would say it’s irresponsible to spend money that doesn’t need to be spent if I could otherwise save it.  Trust me I agree.  I think it’s a good idea to save money and the more we can afford to save the better.  I just don’t take my own advice.  I don’t stay awake at night wishing I could change my habits and save more money, I sleep just fine.  What does that say about me?

But I’m OK with it

I think it says for now I’m enjoying my money.  I lived at a bare minimum for many years as I was paying off my debt.  Now for the first time I can spend like I used to without getting into debt (because now I have the money to spend) and it’s very liberating.  I feel that for the moment I’ve achieved financial freedom because I can spend as I want to without restrictions for the fear of getting back into debt and you know what? I like it.

I’m sure this is just a phase and I won’t always be spending money, but for now this is just how it is.

 

The one time I wish I was married

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The one time I wish I was married, marriage, single, society norm

The one time I wish I was married, marriage, single, society normGood morning Dinks.  To say that I had an interesting weekend would be the understatement of the month.  Let me just say that being 34 and unmarried is a very interesting combination at weddings.

When I was in my 20s and all my friends (everyone but me) were getting married I was at the fun, singles table and when the party got started we were the center of the dance floor.  I would join the crowd of single ladies to catch the bouquet in hopes I was the next one to tie the knot.  In your 20s it’s OK to be single and everyone assures you that “You’ll be next”.

Why does everyone have to get married?

Now in my mid-30s being single at a wedding is not so great, actually it’s downright sad.  Nick usually avoids my friend’s wedding all together so I’m usually alone.  I get flooded with questions like Why aren’t you married?  Are you divorced?  Where’s YOUR husband? and When are you getting married?  Yes someone actually asked me if I was divorced, like it’s a devastating to be 34 and never married.

I used to smile politely but now after 10 years of oh poor you, single in your 30s looks I’ve developed quite an attitude towards the entire situation.  Depending on the extreme reaction of the person asking I either respond “Nothing’s wrong with me!” or “I would love to get married, but my boyfriend of 15 years doesn’t want to.”  It’s a lot easier when he’s around because I can introduce him into the conversation and let the inquiring mind harass him from there on.  Maybe that’s why he doesn’t go to wedding anymore with me.

It’s OK not to be married

I’m not sure why people, especially in the older generation, feel that everyone needs to be married.  Even worse than that I’m not sure why they assume something is wrong with you if you’re not.  I don’t mind not being married.  Nick and I started dating at 19 and we weren’t ready to get married after the usual 3 to 4 years of dating.  Now that maybe we’re ready – maybe – we’ve already been together so long that it’s kind of like, what’s the point.  At least that’s what Nick.

I was telling the wedding story to one of my colleagues and she told me people have that reaction because people trust married people.  Do you think that’s true?  Are unmarried women considered untrustworthy?

Do we need a reason to be single?

I knew a financial planner who was 50 years old and still lived with his mother.  They were a traditional family and he wasn’t going to move out until he got married.  Since he was possibly homosexual (at least that’s the rumor) he was most likely never going to tell his very traditional mother, he was therefore never going to get married and a result he was never going to move out.

Isn’t that funny how society views people?  If you’re a single woman in your 30s there must be something wrong with you and if you’re a single man in your 40s or 50s you must be homosexual.  What the hell is wrong with people?

Weekly Roundup: I’m in NYC!

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the city that never sleeps, NYC, New York city trip, travel to NYC, NYC blogging friends

the city that never sleeps, NYC, New York city trip, travel to NYC, NYC blogging friends

Happy Friday Dinks.  I’m writing to you today from good old NYC.  I arrived last night and I’m looking forward to spending the next three days in the city that never sleeps.  I’ve been here less than 24 hours and I’m already loving it.  First of all it’s a lot warmer in New York than it is in Montreal and after a really cold winter I couldn’t be happier.  I’ll be posting pics all weekend on Instagram so if you who want to follow my journey feel free to like away!

In honor of my trip I’ve gathered the best posts from some of our NYC blogging friends.  Enjoy!

Broke Girl Rich – Protecting Yourself From Shady Investments

The Broke and Beautiful Life – Why I’m Starting a Gremlin Fund

Budget Blonde – Seriously, What is a Hedge Fund Anyway? (OK she’s in New Jersey)

Yes I am Cheap – IRS Early Filing Tax Refund Scam

Free From Broke – How to Put Away Savings

My Bank Tracker – Bank Account Closed? 5 Things You Must Do Next

Photo from I’d Pin That

 

 

How to tip at a hotel

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How to tip at a hotel, travel tipping, tips at hotel, travel tip

How to tip at a hotel, travel tipping, tips at hotel, travel tipGood morning Dinks.  I’m back from my much needed extra long weekend getaway and let me tell you I had a great time.  To sum up my six days (Thursday to Monday) I met with a freelance client, I attended a digital media conference, I had dinner with an old friend from high school and I had a job interview.  I know that sounds like a lot, but I still managed to sneak in some recreational time at the pool and in the sauna.  I also found the time to finish reading my book.

On the downside my luck with accommodations is a different story.  I stayed in three different hotels over the five days.  My first night hotel was an add on because I decided to leave a day early, my second hotel was awful (a.k.a. kid friendly – very kid friendly) then I finally settled into my final hotel destination.

I spent $57 in taxi cab fares travelling from hotel to hotel, that’s a lot of wasted money.  Each taxi cab ride was a new start up fee, a new travelling fair and a new tip.  As I handed over my heard earned money I thought about the habit of tipping, specifically tipping when travelling.  When should we do it, who should we give it to and how much should we give?

Your cab driver?  I never know how much to tip when it comes to cabs, is it the standard 15-20% like in restaurants?  I usually round up and add a dollar.  However I never tip if I’m taking a trip where there is a flat fee such as to or from the airport (remember THAT story?).  I’m not sure if it’s proper etiquette, but that’s what I do.

The bellman for helping with your bags?  In the movies the traveller always hands the bellman money when he brings luggage into the room.  However the people having their bags carried are usually rich.  So what about us, what about the average Joe, should we tip the bellman at a hotel?

Housekeeping for bringing extra towels?  I used to always hand housekeeping a dollar or two when I requested extra towels but I recently stopped doing it.  I started thinking, why am I paying for something that’s already in my hotel room?  I made a decision then and there to stop tipping for items that are already in my room but I need more of.  If I need extra pillows, towels or a blanket I don’t tip.

What about items that aren’t in your hotel room?  I don’t necessarily think we should tip for someone bringing extra towels to the room because those are items that come with renting a hotel room for the evening.  But what about other items that are available from the hospitality desk and aren’t standard in your room like shower caps, tooth paste and razors.  Do you tip when someone brings non standard items to your room?

While I was on my extra long weekend getaway I called housekeeping and asked for a shower cap.  I had no intention of tipping so I didn’t bring any money to the door.  When the man handed me two shower caps he said “Here you go Kristina”.  He knew my name, that’s great service…and yet I didn’t tip him.  I still feel bad about it!

 

Where to find cheap stuff for your home

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cheap stuff, yard sale, cheap furniture, secondhand appliances, secondhand furniture, thrifty

cheap stuff, yard sale, cheap furniture, secondhand appliances, secondhand furniture, thriftyGood morning Dinks.  Has spring fever hit you yet?  I’m not exactly sure if that’s what I’m going through right now but I can tell you that I’m definitely over winter and ready to move on to the next phase of the year – or should I say season of the year.

When spring comes the snow melts and we can start spending more time outside.  As you know Nick and I moved into a new apartment in October and after getting all our furniture we decided to hold off on the decorating until spring.  Now spring is almost here and I’m ready to start decorating, but there’s a catch…as there always is.  I need to do it for cheap, like really cheap.

So here’s the question.  How do you make your apartment look like a million bucks for less than $1000?  Normally I would say buy everything used, but my boyfriend doesn’t believe in buying other people’s stuff because he thinks it’s garbage.  I try to spin a used item as being a vintage masterpiece but he’s not buying it.  The following are ways I would like to decorate our apartment on the cheap but unfortunately I won’t be able to take my own advice.

Fill your bookshelf with used books

Our bedroom has a built in bookshelf.  I love it, it’s gorgeous and it gives the room character.  Even though Nick and I both really like to read I don’t think we could fill up this bookshelf in our entire lifetime.  It’s almost the entire size of our wall which has 14 foot ceilings and there’s room for at least two rows of books on each of the five shelves.

If you want to fill your bookshelf go to your library and buy their books.  My Dad keeps sending me books that he buys at library sales.  “Read this book, I bought it for $1” he tells me.  I think I inherited my love of reading from my Dad, actually I know it.  He’s always the first to ask me what I’m reading and he even sends me back books that I’ve given to him.  Yes that’s right, not only does my Dad re-gift my gifts but he gives them back to me.  I don’t mind because we have the same taste in books; we both love to read crime fiction.

Drive around hitting up garage sales

I’m not sure where the term garage sale comes from because they’re usually held on someone’s front lawn, by the curb or in a driveway.  But nevertheless garage sales are a great place to find hidden treasures.  As long as the item looks clean and I need it garage sale finds can give old world charm to a new apartment.

I love walking around garage sales looking for book ends, lamps and other decor but for reasons already mentioned I never buy anything.  I wouldn’t buy just anything and everything from a garage sale because I don’t want to clutter our pretty new apartment with junk, but rare cute items are OK.

Take advantage of other peoples woes

Does profiting from someone’s loss make you a bad person?  I would normally say yes, but not when it comes to money.  You may have heard that both Sony and Target are closing their stores in Canada.  Although I feel bad for these mega million corporations I can’t help but take advantage of their going out of business sales.

I bought candles and pillows at a discount for our new living room at Target and Nick bought a new sound bar for our entertainment system from The Sony Store.  Going out of business sales are a great place to get awesome things on the cheap.

Weekly Roundup: Winter, March and Money

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Winter, March and Money, personal finance blog, personal finance article, financial article, financial read

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Good morning Dinks.  How are you spending the last weekend in February?  Nick and I are staying in warm and cozy with Netflix.  We took an extra long weekend away last week so this weekend we’re just laying low and catching up on things around the apartment.

Enjoy your weekend and enjoy these posts we love:

Money Talks News – Best and Worst Things to Buy in March

Money Propeller – The Cost of Living in Winter

Young and Thrifty – Housekeeper or no housekeeper?

The Simple Dollar – This One Move Can Save You $1000

Financial Samurai – Does Remodeling Pay Off? Probably Not!

Photo from  I’d Pin That

Do you need an assistant?

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Having an assistant can sometimes be an amazing financial move. Here's how to decide whether the cost would be worth it.

Having an assistant can sometimes be an amazing financial move. Here's how to decide whether the cost would be worth it.Good morning Dinks.  Let me ask you a question, do you have an assistant? The reason I’m asking is because it seems like the topic of assistants is in the air this week.  I went to my chiropractor on Monday for my monthly visit and there was a new girl working in the office who he introduced as his assistant.  Then on Wednesday one of my freelance employers missed a meeting because he didn’t keep proper track of his schedule.  And there you have it one of the men in my life hired a new assistant and the other needs to hire one.

An assistant can be worth the cost

When my chiropractor told me he has a new assistant I had to do everything in my power to try and hold in my laughter. My first thought was why does a chiropractor need an assistant if he has a receptionist?  Then upon further thought I decided it’s actually a good idea.

She’s not really a personal assistant, she’s more of an office helper.  She prepares the rooms and cleans up after the clients, she also brings clients into their rooms so they don’t have to sit in the waiting room.  All in all I think she helps the flow of traffic which allows the doctor to see more patients in a day.  More clients means more money and therefore this is definitely an assistant who’s worth the cost.

When an assistant isn’t worth it

If you aren’t busy, just unorganized than an assistant may not be worth the cost.  However if your assistant brings added value to the business in the form of efficiency then bring an assistant on board.  This is the dilemma I’m having with the freelance client.  I’m not sure if he’s extremely busy or just unorganized.

The way I see it an assistant can help out in one of two ways: they can free up time in your personal life so you can dedicate more time to your business or they can help organize your business life to make your time more profitable.

A big misconception is that assistants are only for CEOs and really important people, but the truth is anyone can have an assistant.  If you’re unorganized and inefficient an assistant can help get you on track or an assistant can get you coffee and wash your dog, it can really go either way.

Virtual vs. in house assistants

If the added benefit of having an assistant is to organize your schedule, book events, and keep you on time for everything then a virtual assistant will do.  However if you need someone to prepare documents for meetings, set up board rooms and take notes those meetings than you may need to hire someone in house.

The benefit of hiring a virtual assistant is they can work from anywhere and you don’t actually have to pay them to come into the office.  It’s usually cheaper to hire a virtual assistant because they work on contract as oppose to being a full time employee with office space and benefits.  I know some of my blogging friends have virtual assistants and they swear they couldn’t run their business without one.

 

Money Only Gets Better with Age

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Money only gets better with age. That's why you should be continually looking to improve your personal finances. Here's one way to do it.

Money only gets better with age. That's why you should be continually looking to improve your personal finances. Here's one way to do it.Sponsored by Edelman Financial Services

Let me ask you a question, do you think your money life is better now than it was 10 years ago?  20 years ago?  30 years ago?  I can definitely answer yes.  My boyfriend Nick and I have both come a long way in how we make and manage our money over the last 20 years and I’m proud to say we’ve been doing it together (learning how to be financially responsible) for 15 of those 20 years.

I look back on our money life and I think, “My, my how it’s changed.”  I can only imagine what my money life will be like in another 30 years as I near retirement.  Some people get nervous about getting older, but not me.  I look forward to the day when I can reap the benefits in retirement of my hard earned working  years.  Don’t you?  Actually maybe you already are!

Goals change as we get older

One of the major benefits of money in our golden years is that our priorities change.  I’ve always had a good work ethic because when I was 14 I got a monthly allowance from my parents in exchange for weekly chores.  However what seemed important back then seems a little silly now.

I didn’t think about saving for the future back then, although I wish I did.  As a teenager I spent most of my money at the mall eating ice cream and buying cassette tapes – YEP I’m showing my age.  You’ve got to love the 90s.  Now I wouldn’t even think about buying myself something nice until all the bills have been paid and I’ve put some money aside for savings.  Like I said, goals change as we mature.

We learn from our money mistakes

Oh boy did I learn.  At 24 I was almost $20,000 in debt, by the time I was 29 I was $50,000 in debt.  My wide eyes for a lifestyle I couldn’t afford got the best of me; because of that mistake I learned how to properly manage my money the hard way.

Would I change it?  Probably not.  I wish I never had to go through working three jobs and always being exhausted and losing sleep over stressing about money.  But all those things made me the person I am today.

That’s the beauty of becoming older, we get wiser about money (and about life) at the same time.  In a way I guess I’m thankful it happened when I was young because it gave me the chance to work hard, earn more money and pay off my debt.  I definitely wouldn’t want to be on a fixed income in retirement and still in debt, I’m not sure how I’d manage that.

As we get older we have different priorities

Now at 34 I work two jobs, save money regularly and spend my money on things that matter, like travel.  Buying cassette tapes and having the latest fashion trends are no longer my money priorities and that’s OK because it’s just a part of growing up.

If my life can change this drastically in only five years I have to say I’m looking forward to what the next 10, 15, 20 years have to bring to my life money wise.

Do you want to take the necessary steps to align your money priorities, organize your financial life and get ready for retirement? Well we have good news!  Smart Women Finish Rich® seminars are happening all across the country starting today until March 16.

Smart Women Finish Rich® is the popular seminar series based on the New York Times bestselling book written by Edelman Financial Services Vice Chair David Bach.  It gives women the tools you need to invest wisely, retire happy and be a money powerhouse.

For more information and to sign up for a date near you please visit  the Edelman Financial Services website or click here.  Use promo code DINKSBlog to bring a friend for free!

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David Bach is Vice Chairman of Edelman Financial Services LLC, a Registered Investment Advisor. He is an Investment Advisor Representative who offers advisory services through EFS and a Registered Representative of (and offers securities through) Sanders Morris Harris Inc., an affiliated broker/dealer, member FINRA/SIPC.

Advisory Services offered through Edelman Financial Services LLC. Securities offered through Sanders Morris Harris Inc., an affiliated broker/dealer, member FINRA/SIPC.

How to book the perfect hotel room

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Looking to book the perfect hotel room? These tips will help you get an awesome room at an amazing price!

Looking to book the perfect hotel room? These tips will help you get an awesome room at an amazing price!

Good morning Dinks.  It’s the end of February and that means it’s the time of the year when I get restless.  I’m over the snowy Northeast and I long for the sun to come out and shine down on me in all its warmth and glory.

Normally this time of the year I would book a road trip to NYC or Boston (the two closest major U.S cities to where I live) but my friends south of the border are getting so much snow this year it’s probably better I don’t chance it.

Instead I’ve decided to travel 4.5 hours by train from Montreal to Toronto.  A nice extra long weekend getaway to relax.  And the best part? I am doing it all for less than $500. Yes that’s right, with a little bit of planning and about two hours of trying different travel combinations online I successfully booked the perfect hotel room for only $87 a night.

If you are like me and you want a change of scenery but don’t think you can afford it I’m here to tell you that YES YOU CAN!  These are my three tips for finding the perfect hotel room for your next vacation.

Be flexible with your dates

If you’re a long time reader of Dinks Finance you know that I’m a huge fan of Priceline.com.  I have booked travel all around the U.S. at discounted rates with Priceline.

I am one of those people who would rather stay up late than wake up early, but not if it saves me money.  I originally wanted to leave Thursday after work so I can wake up Friday morning in a new city.  However there was a $19 a night   difference.  Since arriving the next morning makes no difference in my itinerary I decided to save over $100 and travel Friday morning instead of Thursday night.

Eliminate those high standards

I know that staying in a gorgeous hotel room is a big plus while on vacation, but there’s no reason to stay in a 5 star hotel or even a 4 star hotel when a 3.5 star will do just fine.  I am more concerned about being in a great location than I am about having chocolates on my pillows.

In an effort to save $9 a night for my stay I opted for a 3.5 versus 4 star hotel.  It’s in a great location and it’s rated over 7 stars by guests.  Those are the three main criteria I look for when booking the perfect hotel room – location, price and star rating.

Give yourself some booking time

Discount travel websites like Hotwire and Priceline can change their prices several times throughout the day based on demand.  I started looking for hotel rooms two weeks ago, but prices were too high.  I finally booked my room for $60 a night plus taxes and fees which is a great deal.

I try to avoid booking my travel on weekends because it seems prices are always higher, probably because that’s when people have free time and travel websites take advantage of it – after all we live in a world of supply and demand.

So if you want to book a nice long weekend trip or a getaway for spring break keep these three tips in mind – try different travel dates to find the best price, search a lower star level (even half a star level) to save money and try to book  your travel during the week (like on a Tuesday) to get a low price guarantee.

Weekly Roundup: Just another Friday in February

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Another Friday, February, blog reading, things to read, articles to read, blogs to read, financial blogs, personal finance

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Good morning Dinks.  Happy Friday.  Let me ask you, what’s going on this weekend.  President’s Day is over, Valentine’s Day is over and now it’s just another cold February Friday.

How are you spending your weekends?

Enjoy these posts from our friends:

Couple Money – Which Debt Payoff Method Is Right for You?

Wise Bread – Simple Ways to Become a Millionaire

Empowered Dollar – Kick butt with your money goals in just 30 minutes

Savvy Working Gal – How Much Should a Couple Spend on Groceries Each Month?

CESI – 10 Ways to Improve Your Credit Score This Year

Photo from Flickr

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