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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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Fun Summer Couple’s Activities

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couple's activities, summer activities, being active

couple's activities, summer activities, being active

Good morning Dinks.  Are you and your honey looking for ways to get active together this summer?  Maybe some of you are already active and maybe some of you are looking for fun things to do together that get you moving…outside that is.

Yesterday I was talking with my boss and she mentioned that every Saturday morning she and her husband watch an hour of TV while drinking their coffees and then they head off to the gym.  I thought “Oh that’s nice.”  Other than the occasional walk around the neighborhood Nick and I don’t do a lot of sports activities together, but we could.

Join a couples sports club

I’m going to try and convince him to join a couples sports league.  I’m not suggesting you have to play together, in fact playing on opposite teams may spark some healthy competition in your relationship.  However joining a co-ed league in the same sport such as volleyball or baseball can help get you out of the house and get active at the same time.  You can also join the same club but play on an all men’s or all women’s team.

Start rowing

As a kid I used to love paddling with my Dad on the lake. Eventually I was good enough (and old enough) to go out on my own.  Now of course I know paddling a canoe is not exactly the same as rowing, but it’s similar and it’s a sport you can do together just the two of you or join a bigger team.   I personally love anything to do with the water so if I could find a canoe in our neighborhood (and could convince Nick to do it) I would definitely sign us up.

Enter a bowling league

I know that couple’s bowling is kind of cliché, but bowling can be a lot of fun.  We did this on our last vacation and we had a great time. You can get a group of friends together and create a team or the two of you can join an existing league.  It doesn’t necessarily get you out into the great outdoors but it does get you out of the house and bowling as a sport is semi active, right?

Go for a hike

For those couples who are fortunate enough to live in a part of the country where mountains, forests and hiking trails are available I say go for it.  We don’t have that luxury here in the city so a nice long walk along the water will have to do just fine – and it does.  However there is something about being surrounded by nature and fresh air filled with moss that is a little bit romantic, do you agree?

How do you and your sweetheart stay active? (PS remember this is a family friendly blog)

 

3 Types of Insurance You Need

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types of insurance, insurance policy, choosing the right insurance

types of insurance, insurance policy, choosing the right insurance

Good morning Brian, Let me ask you a question, how much do you pay for insurance each month? If you’re like most of us, you probably pay the basic home and auto insurance which of course are both very important to have. But here’s my general assessment. The question we really need to ask ourselves is which type of insurance do I need?

Collision and Theft Damage Car Insurance

I am a huge fan of The People’s Court, I could watch Judge Marilyn Milian all day long. There are basically three types of cases that come across the judge’s desk: Tenants vs. Landlords, Dog Owners and Car cases. Sometimes these car cases are regarding the purchase and sale of a car, but often they are about damages when someone hits another person’s car.

As uninsured drivers are only required to have liability insurance which covers the cost in cases they physically injure someone. However, that doesn’t cover any other damages if there is a hit in collision or stolen. I know it costs a bit more to have full coverage on your car but trust me this premium is probably a lot cheaper than a law suit.

While the premium for full coverage might seem higher upfront, it’s often more affordable than facing a costly lawsuit or repair bill. If you’re looking for budget-friendly options, cheap car insurance Indiana could be a great place to start.

Pet Insurance

Oh yes this is a thing, people insure their pets just like they insure their kids. If you’re a pet owner you may want to look into this if you don’t already have it. Just out of curiosity does anyone else have pet insurance? I am not sure if pet insurance covers the loss of life on your furry friend, but it certainly covers medical expenses.

One of my friends has the worst luck when it comes to pets. Actually I should say their dog has the worst luck. In his short two years of living, has broken his back several times and has leg trauma. All together my friend has racked up over $10,000 in medical bills on his beloved dog. Thank goodness for pet insurance. How much would insurance cost if he decided to go with the most affordable pet insurance?

Travel Insurance

I know this may seem like an added cost to an already high expense, but travel insurance is worth it. The variety of things that can happen when traveling is long. The reality of this is almost everyone has luggage stolen or passports and license lost, flights delayed or canceled. I mean anyone with better luck than me may avoid these inconveniences, but I am telling you travel insurance is worth it. This may also be the best time to consider a travel destination without your budget but thankful you have to buy it — even if it’s just for a day or two.

My own tip: I buy travel insurance and then my bags delayed one month in the last two years. Now I keep a color of everything in my luggage and take photos of them. Actually I should say that’s only for my current bag.

Let me know if you’d like this consolidated further or need any additional processing!

3 Ways to Save Money on Eating Out

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save money on eating out, eating outside

save money on eating out, eating outside

Good morning Dinks.  As you know I am a terrible cook.  I eat out quite often, not because I actually like to  – although I do – but because I don’t have any other choice.  I like eating out because it’s fast and there’s no clean up.  I also like eating out because it’s a hell of a lot better than anything I could ever cook.

My terrible cooking skills are not from a lack of trying.  I actually really love baking and I wish that transformed into cooking, but unfortunately it has not.  About twice a year I make the decision to learn to cook and I vow this will be the time that sticks.  However I’m almost 35 years old (in October) and have yet to master the art of culinary creativity.

I’m not saying eating out on a daily basis is a long term solution, but while it is my current situation all I can do is make the best of it.  I don’t have any other vices, I don’t drink, smoke, gamble or party hard.  Therefore it’s pretty easy for me to fit eating out into my weekly budget.  Oh of course then there’s the fact that I’ve mastered the art of eating out on the cheap.

Set a daily budget

I give myself a $10 a day budget for eating out and I very rarely surpass it if I don’t want to.  I spend less than $3 on breakfast and I try to spend around $5 on lunch.  I usually keep the costs down by bringing a whole bunch of snacks and just buying my main course which could be a sandwich, soup or salad.  This keeps my belly full and doesn’t bleed my wallet dry.

Go pick it up yourself

On Saturday nights Nick and I like to order takeout.  This is by far our most expensive meal of the week, yet it’s a lot cheaper than actually going to a restaurant.  If you order takeout you’re not paying for drinks which there in itself saves a lot of money.

If you go and  pick up your food you’re saving on tip and delivery fees.  That can add up to a lot of savings.  Some restaurants also give discounts at the counter for clients who pick up their meals.  Last time I ordered Domino’s I saved $8 by picking it up myself.

Buy meals for two

You know how people tell you to buy your household items in bulk?  The exact same thing is true for meals.  If getting a combo or appetizer is only a few bucks more you should always add it on to your meal.  Even though it will be a little bit more expensive up front the cost between the two meals will be cheaper.

I do this a lot.  I like to eat at a salad place that charges $10 for three choices of salad.  I eat half one day and then put the other half in the fridge from my lunch the next day.  It helps portion control and it’s a big money saver.

 

Should you pay off your mortgage fast?

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mortgage, pay off mortgage, real estate

mortgage, pay off mortgage, real estate

This is the age old question of home owners.  Should you pay off your mortgage fast or should you just stick to the original amortization payment schedule?  There are several ways you can choose to spend your hard earned money such as travelling, education, your legacy and saving for retirement.  So here’s the question, should part of your hard earned money be used to pay off your mortgage fast?

My best friend’s parents purchased their home together right after they got married.  They chose to wait and have children so they could focus on paying off their mortgage.  This is probably one of the smartest financial moves a couple can make – and they did it record time.  Mind you it was the 70s and home prices were a lot cheaper than they are today, but her parents paid off their mortgage in five years.

Is being mortgage free one of your financial goals?

That was their ultimate financial goal and they achieved it…together.  I am sure they made other sacrifices in order to put every single dollar towards paying off their home, but that’s the beauty of prioritizing goals.  After they became mortgage free my friend’s parents focused on their family and had two lovely children – my best friend and her younger brother.

Some could say this lack of debt and financial burden on her parents helped my friend and her brother have a better life.  They both attended college without student loans or having to work while in school because their parents had money saved.  Her parent’s making the decision to invest in property at a young age and pay it off as fast as possible helped them achieve other goals throughout their life.

Are you saving for retirement?

Now my best friend’s Dad is retired and spends his summer days on his boat and her mom still works part time.  Of course she doesn’t need to work part time because they both had a lifetime to accumulate savings – literally.  They also both have pensions from their regular jobs.  She works more for the social aspect of having something to do rather than necessity.

I think we can all agree that your retirement will be a lot better off if you don’t have to worry about making mortgage payments.  Unfortunately this is not a reality for everyone.  With divorces, remarriages and blended families a lot of retirees will be paying off a mortgage for the rest of their lives.  My Dad is one of them.

Maybe we will always have a mortgage

Just when my parents were almost debt free they decided to get divorced and after buying out my mother to keep our childhood home my father instantly found himself single with a mortgage.  Then he moved in with his new girlfriend and she decided not to put him on the title of the home.

When the upkeep became too much for them to handle she sold the home at a loss.  Now they rent an apartment and will probably do so as long as they both shall live.

So what do think?  Should you work hard, make sacrifices and pay off your mortgage as fast as possible or should you just take your time to become debt free?

Weekly roundup: Happy July 4

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Happy July 4th weekend dinks.  Don’t you just love having a day off?  I always get a little bit excited on Thursday afternoons when I know I don’t have to go to work on Friday.  Don’t get me wrong, I love my job but I love sleeping in even more.

Even though we get two days off for the weekend every week having an extra day is absolutely fantastic because it opens a door of things to do that you can’t always do in two days.

How are you enjoying this long weekend?

 I hope you’re enjoying this extra long weekend by doing something extra special.  I know it’s just one extra day off, but that one day makes a big difference.  At least it does for me.

What do you like to do when you have an extra day off?

Take a road trip

Three days is the perfect amount of time for a road trip.  I love taking weekend road trips because it’s cheaper than flying and if the drive is around five hours it still leaves plenty of time to enjoy the city.  Five hours is also a good amount of time to be in a car, it’s just long enough to enjoy the trip but not so long that you dread being in the car.

Find local outdoors activities

During this holiday it’s a pretty safe bet that most cities are hosting activates to celebrate Independence Day.  Check your local listings for activates going on such as parades, fireworks and festivals.  I am spending the day at the port in my city where they’ll have live music and good food.  Tonight there will be fireworks – and I love fireworks.

Host a BBQ

BBQs are a great way to spend the day because you’re outside, getting fresh air, working on your tan, hanging out with friends and eating good food.  When you spend the day at a friend or family member’s house you don’t have to worry about drinking and driving, being stuck in crowds or waiting in line at public bathrooms. Could you think of a better way to spend the 4th of July?

Spend the day relaxing

If being out in crowds is not really your ideal way to spend a day off then just stay in.  Sometimes we just need a day to catch up on sleep, binge watch TV and order in food.  I love those days.  I love waking up, staying in my pHs all day, taking a long bubble bath and then getting back into bed.  If you’re nostalgic for July 4th activities you can always watch the parades or fireworks on TV.  It’s almost like being there in person.

Enjoy your long weekend dinks and happy 4th of July!

How to Do a Financial Plan…The Right Way

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financial planning, financial plans, financial goals

financial planning, financial plans, financial goals

Good morning Dinks.  Let me ask you a question, do you have a financial plan.  Or actually here’s a better question do you know how to do a financial plan?  The odds are your answer is no.  And that’s O.K.

Many people go through life without a financial plan and that’s O.K. too.  There’s no rule book that says everyone and their mother has to have a financial plan.  It’s not necessary but it does make achieving your goals a lot easier.

I’m a firm believer in planning – everything.  I like to have a clear idea of what I’m doing for everything from my daily tasks to how I fill my days on vacation.  Almost everything in my life is planned, well at least as much as it can be.

Maybe you have goals, but you’ve never thought of creating a plan to help achieve them.  Maybe you’re the type of person who likes the idea of goals and hopes to achieve them some day but don’t really work towards them actively.  There’s nothing wrong with that.  However I can speak from experience when I say that setting a plan to achieve your personal and financial goals makes them happen a lot faster.

Set your goals

This is How To Do a Financial Plan 101.  Before you can start planning towards achieving your goals you have to actually set them.  Think about what you want to achieve over the next two, five and ten years.  These goals can be anything from going to graduate school, taking a fabulous vacation or buying a house.

Over the next two years I want to spend two weeks in Europe travelling through Portugal, Italy and Greece.  Over the next five years I think Nick and I want to buy a house and over the next ten years I have absolutely no idea what I want to achieve.  But as it gets closer I’m sure I’ll figure it out.

Set priorities

This is the second step towards starting a financial plan.  You may have more than one goal for each time period and that means you have to set priorities.  If not then the priority defaults to the closest time frame.

Start saving

Think about how goals fit into your life and your budget.  Once you know what your goals are and when you want to achieve them by you can start setting up automatic savings.   I like to have separate accounts for all my goals because it lets me track my savings as well as the performance of investments.  When I merge goals into one account lines get blurred and I don’t like it.

Make it happen

IF this is the first time you’ve set a plan to really work towards achieving your goals you will most likely have to make changes in your daily habits.  You’ll start thinking about your goals, check in on the progress and possibly cut some spending to afford your savings.

That’s it.  Welcome to your first financial plan.

Finding the Perfect Wedding Gift

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perfect wedding gift, wedding gift, gift registry

perfect wedding gift, wedding gift, gift registry

Good morning Dinks.  I want to say a BIG CONGRATULATIONS to my friends Nelson @ Financial Uproar and Vanessa @ Vanessa’s Money on their engagement.  Come October these two lovely financial bloggers will be married in Las Vegas and guess who’s invited?! Yours truly.

Nelson and Vanessa have both been very good friends to me – we’ve even met in person – and I’ve also worked with both of them on side hustle projects, so it’s only natural I get them a wedding gift to celebrate their special occasion.  I’m sure if you scroll down to the comments you’ll see both of them telling me that it’s not necessary, but it’s not negotiable.

What do you buy for two money bloggers?

My natural instinct is to give cash as a wedding gift, but is that totally inappropriate for two personal finance bloggers.  On one hand they deal with and write about money all day long so it kind of seems cliché to give them an envelope full of cash as a wedding gift.

On the other hand it could be the totally perfect gift.  What could be better for two people who spend their days talking (and writing) about money than a handful of cash.  Yes it could just be the perfect wedding gift.

Then there’s the fact that these two love birds just moved back to Canada after being abroad for a year and they probably need a bunch of stuff to furnish and decorate their new home.  I might just have to look at the gift registry to see what they need/want.

Did you register for wedding gifts?

I know some people don’t like to register because they feel as if it’s asking for gifts.  I think that couldn’t be farther from the truth.  When you get married people are going to give you gifts regardless of whether you want them or not.

I always say it’s better to register because then at least you’re getting presents that you want and you don’t have to spend a couple of weeks after the wedding exchanging or returning unwanted gifts.   On the other hand the newlyweds can spend cash anywhere they want so maybe that’s the way to go.

What about a destination wedding?

Oh yes I am forgetting another very important piece of the-perfect-wedding-gift puzzle, Vanessa and Nelson are getting married in Las Vegas.  This is another reason why I’m leaning towards giving cash as a gift because I’m sure they don’t want to travel back to Canada with a bunch of big gifts.  I’m also sure airport security wouldn’t like it very much.

So what do you think?

Here are the facts: Nelson and Vanessa are two personal finance bloggers.  They are getting married in October.  The ceremony is in Las Vegas.

Thoughts on the perfect wedding gift?

We’re thinking of buying a house

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buying a house, real estate, real estate investment, purchasing a home

buying a house, real estate, real estate investment, purchasing a home

Any thoughts on that?  If there’s one thing I’ve learned about being a lifelong renter it’s that’s everyone has an opinion on the fact that Nick and I are 35 years old and still rent an apartment.  So what do you think?  How many of our Dinks friends out there are like us and still rent?

Renting is so easy

It’s truly care free.  We aren’t responsible for anything except handing over a check to pay our rent each month.  I like the fact we don’t have to worry about hot water heaters, property taxes, eco-friendly windows and land surveys.  All we need to do is make sure we don’t lose the keys to our apartment and that’s it.

That being said our new apartment that we moved into last October has taken us a step closer to the feeling of owning a home.  After 14 years of paying all inclusive rent we moved into an apartment where we have to pay the utilities.  This is a whole other story that I will write about some day when I actually figure out how it works, but for now we have to pay rent plus utilities which is hot water and electricity.

Buying real estate is a good investment

Or at least that’s what everyone tells me, but I wouldn’t know.  We wouldn’t be buying a home as an investment.  I don’t think paying rent is a waste of money, contrary to what a lot of other people say.  I think paying rent is an exchange of service, we pay rent and in exchange our landlord gives us an 1100 sq ft. apartment to live in.  I think it’s a good trade off.

Now of course one could argue that instead of paying a landlord we could be paying ourselves in the form of a mortgage payment and that is true but then we would have all the headaches that come along with owning property.

Our own home is the next logical step

We went from living in a high rise building in the middle of downtown to living in a newly renovated five unit historical building.  We doubled the amount of floor space and we started paying multiple bills.  With more floor space comes more responsibility and that’s been a bit of an adjustment.

We also moved to a quieter neighborhood and after a few years here I think our next step will be a home.  We don’t need a big home because we don’t have a lot of visitors.  One day we were driving around a neighborhood in the suburbs and got lost.  We came across a lovely little corner house and I said to Nick “Wouldn’t it be nice to live here?”

The lot wasn’t too big and neither was the house which means there wouldn’t be too much upkeep but just enough to take advantage of all the things that come with a house like gardens and multi levels.

So what do you think, should Nick and I buy a house?

Weekly roundup: How to save money on groceries

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Good morning Dinks.  Let me ask you a question, how much do you spend on groceries each month?  Nick and I spend approximately $120 a week on groceries for the two of us.  I’m not sure if that’s a reasonable amount.

How do you save money on groceries each week?

Plan your menus

I try to do this as much as possible but the problem is sometimes I feel like eating a certain food when I’m at the grocery store and then a couple days later I don’t feel like it anymore.  This usually ends up in me eating something I don’t want to or food being wasted – which makes me very angry.

Planning your menus makes you think about the ingredients and maybe you can reuse them in several menus.  For example I love Mexican food.  A mixture of peppers and onions can be used for several dishes such as burritos, tacos and quesadillas.  They all have very different tastes and one batch of ingredients can make all three. That’s a big money saver.

Think about the cost per unit

This is how I’ve adapted my shopping strategy over the last year and it’s helped save a lot of money.  Sometimes there are two sizes of the same item on sale and you’re not sure which one is the best deal.  The way to know is to figure out the cost per unit.  The smaller size is usually cheaper but it’s not always the best deal.  It might be better to pay a little more because you’ll be getting more bang for your buck.

Many grocery stores and pharmacies are starting to list their prices with the sale price as well as with the cost per unit.  This helps everyone become more savvy shoppers.

Eat the same meals

In a couple or in a family we always try to accommodate each other and sometimes this means making multiple meals.  I know my Dad always did…and he still does.  I am a vegetarian and my sister is gluten-free so this makes for a very interesting family meal.

Cooking multiple versions of the same meal can be very costly.  The economic thing to do is to is to try and find meals that everyone can eat and include the same ingredients.  It makes grocery shopping a lot simpler and cooking meals a lot easier.

How to save money on eating out

Dining out in restaurants is not exactly grocery shopping, but it has to do with food.  Nick and I eat out quite a bit but it’s always grab and go food or takeout, we rarely order delivery or eat out in restaurants, why?  Because it’s expensive.

If you go to pick up your food you can save on the delivery fee and tip.  Many restaurants also give a discount for takeout orders.  That makes eating out economical and worthwhile.

How to Plan the Perfect Vacation

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perfect vacation, planning a vacation, summer time

perfect vacation, planning a vacation, summer time

It’s summer and that means it’s vacation time.  If you’re like many Americans over the next few months you’ll be packing your bags to head off to some fantastic summer destination.  As you know I love to travel.  I don’t travel much during the summer because it’s really hot, although I am going to New York City in a few weeks for a conference.

I will be in New York from Thursday to Monday and even though my main purpose is business I’m staying a few extra days for my own personal pleasure.  I visit NYC as often as I can because it’s truly an amazing city.  One of the best things about New York is that it’s so big and there’s so much to see you can visit as often as you want and the experience will never be the same.

No matter where I’m travelling to whether it be New York or Italy (that’s my vacation next year) I always plan my trips in the exact same way.  I’m not really a go-with-the-flow type of person so I like to plan ahead as much as possible to ensure I get to see and do everything I want.

Decide on your dates

Think about the time of year you want to travel.  I personally like to travel in the spring and the fall because the weather is more accommodating and there are usually less tourists around.  A big part of deciding when to travel is to find out the cheapest times.

Sometimes travelling from Saturday to Saturday is cheaper than travelling from Friday to Friday.  Talk to a travel agent or search discount travel websites like Expedia and Travelocity to play around with potential travel dates.

Book travel

Once you decide the time of year you want to take a vacation it’s time to search for the best deals.  A lot of the time websites will tell you that booking together will get you the best deal, but that’s not always true.  Through Priceline I’ve booked separate one way flights because they are cheaper than booking a round trip.

Plan your activities

Think about all the things you want to do and schedule them in over the days of your trip.  I like to plan one activity each day because it also gives me time to explore the city and local area.  I like to have time to experience local shops and restaurants as well as plan special activities.

On my next trip to NYC I’m going to see a Broadway show, which I like to do and I’m also going to spend a day at Brighton Beach.  Despite my Eastern European heritage I’ve never actually been to the Lower East Side or Brighton Beach in Brooklyn so this time I’m spending a day there.

On some of my other vacations such as South Carolina and Philadelphia I had no idea where to go or what to see so I Googled “Things to do in Philadelphia” and I found a tour that takes you through the jail where Al Capone stayed which is pretty cool.

Where are you going for your summer vacation?

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