So just like any other time, I decided to shed some pounds by attending fitness classes with our family membership, I began running, attended yoga, swam with the kids and lifted weights. I shifted my diet to follow the Food Guide, no super deprivation, no pills or shakes, no extreme measures....I don't diet as a rule, just eat healthy. In the past, the weight would drop and voila!......back to a shapelier version of me.
Month by month went by....and I would weigh myself diligently to keep track of my amazing transformation....except the weight didn't come off!!!! Tempted to throw the damn scale out the window, I persisted in lying to myself that it's not really about the number on the scale, its about being active and feeling healthier as a whole.
Bullshit, absolute bullshit....show me the magic number!!!!!! The number that says I can feel good about myself, the number that says I can go down a dress size, the number that says I can start doing self righteous commercials about how amazing I am for sticking to my very own self designed weight loss program, the number that gets me compliments from my girlfriends, and the number that makes me feel sexy in bed! (Yes, there is a very demented woman that lives inside us all...... I know I am not alone.)
After 10 months of losing very little, feeling extremely frustrated and watching the scale yo-yo up and down 5 lbs from month to month...I have finally lost 5 lbs and it has stayed off consistently for 2 whole weeks, no bouncing and a noticeable looseness to my pants which I adore.
Why I am discussing weight loss, when this is a blog is about austerity measures? Well, turns out that the Austerity Measures pantry diet has given me the push I needed to finally shed a few pounds. Who knew that there would be unique benefits to sticking to a budget and saving money.
Since it is nice to focus on the positive when you are feeling the money pinch and since I am obviously very good at lying to myself at times, I thought it would be good to jot down a few advantages of sticking to a budget so that when I am feeling jealous of my co-workers heading off to Tim's, or when I am craving sushi for lunch, or when I have to tweeze my own eyebrows in a self-inflicted spa moment I can reflect on all the good things I am doing for myself and my family for the future.
10 Best Reasons for Saving Money as a Reminder for Why I Even Give A Damn:
1) Not having to end my days by jumping off a bridge or floating away on an ice flow is a good thing. A desire to someday retire and being able to support ourselves is something that is very difficult to think about when most of us need the cash right now.
I have $4500 in one RRSP and $1500 in another....this is my measly savings from 10 years of very inconsistent contributions. They have both earned a combined total of $1.25 in interest over the years between the markets losing money and other fluctuations. If had stuck my money in the couch, I probably could have earned more with the change that seems to drop in there every month. Right now, if I continue with this elaborate retirement plan, I should be able to afford a very uncomfortable cardboard box.
Luckily in the last year, I started working for a fantastic company that RRSP matches what I contribute and seems to have knowledgeable investors since the interest it is earning far out paces my meager attempts at retirement investing. Thanks goodness for people smarter than me, which I think is the key for success at every level. Go with what you know, anything else should be left up to the other people who do.
According to personal finance expert Liz Weston's financial rules of thumb, we should,
"Save 10% for BASICS, 15% for COMFORT, 20% to ESCAPE. This rule of thumb works pretty well if you start to save for retirement by your early 30s. Saving at least 10% of your income ensures you won’t be eating pet food. Fifteen percent should get you a more comfortable living, while 20% gives you a shot at an early retirement (and yes, you get to count employer contributions as part of your percentage). Wait just a decade to start, though, and you’ll need 15% for basics and 20% for comfort; an early retirement may not be in the cards."
It leaves me wondering what the level below pet food is........
2) There's a flood ahead! Or some other disaster......... car repairs,a forced roofing job, sump pump installation, cracked block on a bad mini van, microwave on fire, septic system meltdown, multiple plumbing screw-ups from the previous home owner, dishwasher breakdown times two, central vacuum systems freak-out, and endless electrical work on our broken dream home have beaten us down financially.
We all hope that none of this happens all at once, but there is nothing that prevents it from happening within days of each other. If it does, savings can make or break your recovery from the worse case scenario. We were somewhat fortunate in that I had money saved to take my catering business to the next level and open its first location at the airport with a cafe attached. Unfortunately, the savings didn't cover everything, nor did the insurance when we were flooded and the business was sacrificed for some steady pay, benefits and job security. The only thing that has saved my sanity has been watching," The Money Pit" with Tom Hanks and Shelley Long over and over.....
3) Rainy day security....isn't that the money that I should have saved for unexpected expenses? Apparently not, so say the experts. We are also supposed to have three to six months of salary saved in case of job loss, illness, or unforeseen medical expenses not covered by health care plans. In a down job market where it may take more time to find a new job, the savings leans more to six months whereas in an up market it could be trimmed to three months of salary. The money is supposed to be parked as an emergency fund in a savings account or money market account where it won't make a lot of interest, but both accounts allow for easy access in times of crisis.
My savings account has $75 in it....that will cover one day of job loss, or one day of illness or brain surgery preformed by my cat.
4) Retirement plan #2.....smart kids can hopefully get good jobs and support me till I die. Directing money towards RESP plans for our kids reduces our taxable income and saves us money. Greater than that, I hope that I will be able to support my kids in a way that doesn't limit them when it comes time to getting an education. This doesn't mean I will be footing the entire bill for school since I believe that there is an absolute value in kids having jobs and paying their way through, but I want my kids to be able to follow their dreams and have some financial support in doing that. My education choices were limited by bargain basement savings, no access to student loans and short sighted thinking. I want better for my kids.
5) I have a dream.....someday I am going to buy the kayak I keep promising myself to enjoy on the lake next to our our broken dream home so that I can start the day in watery meditation.
We have visions of taking a big family vacation to Paris, before the kids graduate, leave home and it becomes a lot more difficult to get the family back together again for travel.
For 18 years I have wanted to hike Machu Picchu in Peru, moving the guidebook, travel brochures and maps through seven moves, only pulling them out to torture myself when it comes time to unpack the boxes.
If you haven't seen the movie,"Up", watch it this weekend. There is a great scene where they are saving for a trip to South America with coins in a jar. The jar keeps getting smashed for every time something with the house or car breaks. Whoever wrote the script has been stalking me and my family, and I am going to get to the bottom of it! The whole movie will make you laugh and cry. Its like real life........I am crying and laughing at the same time, all the time.
6) According to one financial advisor, having savings can give us a feeling of independence and freedom. I am going take his word on this one, since I haven't experienced a savings account with actual savings in it ever. The closest thing is when the peanut butter jar we keep with extra change is full. Booyah! Las Vegas here we come!
7) Savings brings opportunities....wouldn't it be nice to have some money to invest in businesses or real estate or something that could bring in additional income while we are working our day job? I am addicted to Love it or List it, the Property Brothers, House Hunters International and anything else I can watch with Home Flipping. I would love, in my next life, to be able to buy fixers uppers and be able to make them beautiful again. If I could do this and make some income too, Halleluyah!
8) Being a less flawed human being is supposedly a good thing. "In Harris's 20-plus-year career, he has observed that those who learn enough discipline to leave saved money alone -- rather than giving in to another spending temptation -- are able to grow and mature." He also notes, "That savings discipline teaches self-respect and earns the respect of others. It shows you can maintain control of your own life and avoid emotional decision making."
9) Sharing the wealth can bring us closer to others. We all have family members that we would like to help. I have two sets of grandparents still living independently in their 90's. A sense of connection and joy comes from when me and my family put together a goodie box for them every month. We have had to put that on hold this past month and it pains me to have not sent anything in order to stick to our budget. I feel a deep sense of shame and responsibility since they were always there for me when I needed it growing up.
We have other family members we want to help too. Weddings, birthdays, babies on the way, close cousins moving out for the first time, co-workers that you would like to do something nice for.....there are a lot of ways that we show others we care with presents. Having savings to share helps me as a family member and friend to know that I have made a difference in someone's life and while I know there are free gifts we can give, it can be a challenge sometimes when friends and family live thousands of miles away.
10) Last reason why savings are great.......well, obviously....my ass. This is a blog, for crap's sake! Blogs are just published ramblings that should really be in a diary or burned, not shared for all to read....since every thought, every word, every diarrhretic rant is all about whoever is writing the blog. It is self ego run amok!
That aside....I don't know why the pantry austerity measures have helped me to lose some weight....maybe less meat, less snacking on crappy food we no longer have, less manufactured food product or less indulgent purchases at the grocery store? Any or all of those, could be the reason. I'm just happy there is 5 lbs less of me to love. It's a pretty great reason to save! :)
We are your average Canadian family and we have no savings......
No comments:
Post a Comment