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Dec 11 2020 05:05pm
Quote (Secksii @ Dec 11 2020 06:49pm)
no debt, just saving, actually we are shopping for a house since mortgage rates are extremely low atm.

i work for CN, which is an essential service to the country, so i worked throughout the pandemic/full on shutdown. It wasn't bad though, since i bid for a job that is on call cuz i knew it'd be slow and just collect the full guarantee working once or twice a month, instead of the usual 5 times a week for slightly more pay. My wife is a dental hygienist, so she had few months off work and just collected CERB from the government. We already paid off our 1bedroom apartment, so no mortgage/rent to pay, other than the strata fee/utility bills which are low. She bought a kia forte, so no car payments. I lease cuz i like to switch up my rides every few years, and not pay for the car maintenance fees, so i justify leasing on 0% or ~1% interest for my personal reason. We both used credit cards as soon as we were able to since high school dayz, so that we could build up our credit early on, and pretty much used it like a debit card (spend what we only had, never more) except reap the awesome benefits from the card such as 2%+ cashback, travel insurance etc.

We never liked the idea of loans/borrowing money we don't have, nor the idea of living paycheck to paycheck. With exception of mortgage cuz Vancouver is a fucked up housing market, and getting a mortgage is sometimes cheaper to pay off monthly than renting & helping someone else with their mortgage lol. Plus we get the property as investment, whereas rent you get nada.


just put it all on black
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Dec 11 2020 05:15pm
Quote (Bazi @ Dec 11 2020 12:28pm)
^kamahl16 Trades are so underutilized. It takes some time to be an electrician or carpenter but they are respectable positions and there is always a need for them




Exactly



Carpenter checking in, made more money during covid than ever before.
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Dec 11 2020 05:32pm
Quote (SuperSpreader @ 11 Dec 2020 15:05)
just put it all on black


Why do that when u can make ez money through stocks?

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Dec 11 2020 06:02pm
Quote (DrFaGgIt @ 11 Dec 2020 18:15)
Carpenter checking in, made more money during covid than ever before.


tell me about it, took forever for some basic renovations to get done with supply chains fubar’d, delays on materials, and every tradesman having to turn down projects due to being so busy

in regards to the OP. debt is an asset when used advantageously as some have posted. i never liked the concept of owing people but nowadays you can use it to position yourself nicely and money is cheap cheap cheap

i have a mortgage on a property and some other small debt used to finance improvements, as money is so cheap right now and most the cash i had available went into the markets due to their absurd returns after the intial tank in march this year. lucky to not have any other debt other than whatever i put on my cc and pay off

This post was edited by excellence on Dec 11 2020 06:03pm
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Dec 11 2020 06:49pm
Good to see the PaRD community seems to be much better positioned than myself. I was definitely not prepared for COVID and have nobody to blame but myself.

I do believe enough people are in worse positions than myself and am curious how that debt will be dealt with.
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Dec 11 2020 07:15pm
Quote (Kamahl16 @ Dec 11 2020 06:49pm)
Good to see the PaRD community seems to be much better positioned than myself. I was definitely not prepared for COVID and have nobody to blame but myself.

I do believe enough people are in worse positions than myself and am curious how that debt will be dealt with.


Unemployment runs out day after Christmas and so do eviction moratoriums. Gonna be a dark new year.
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Dec 11 2020 07:25pm
Quote (SBD @ Dec 11 2020 05:36pm)
No debt personally.

Canadians actually have less debt now than they did pre-pandemic on an individual level. Canadians now owe 1.71 for every dollar spent while in 2019 they owed 1.81 for every dollar spent. I shouldn't have to say this, but on average that is. Specifically household average.

I have also managed to save above and beyond my pre-covid rate due to travel restrictions of which I budget 17K a year for. I did pick up an additional ATV but am still under budget by an average of $998 per month at this point.

I am one of those people that take mine and my wife's transactions every month , export to Excel it gets categorized and pulls into a tables based on sumif's , it then determines an over or under spent compared to the monthly budgeted amount for each category. I don't believe in software that does all the work because I think there's significant benefit to actually going through everything yourself each month.


a fellow man of culture i see ^_^

woman suck at finances i find, do you find things to be the same?

This post was edited by duffman316 on Dec 11 2020 07:26pm
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Dec 11 2020 07:33pm
Quote (duffman316 @ Dec 11 2020 07:25pm)
a fellow man of culture i see ^_^

woman suck at finances i find, do you find things to be the same?


My wife's better at finances than me, but mostly because I always want to buy new computer stuff or eat out.

She would be fine just eating buttered noodles with black olives every day.
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Dec 11 2020 07:34pm
Quote (duffman316 @ Dec 11 2020 06:25pm)
a fellow man of culture i see ^_^

woman suck at finances i find, do you find things to be the same?


My wife clears over 150k a year and can barely log into her online banking. Thus far iv had to set up her TFSA, RRSP and unregistered accounts.

I just have her dump her money into VUN every two weeks and call it a day.

This post was edited by SBD on Dec 11 2020 07:34pm
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Dec 11 2020 07:35pm
Quote (Thor123422 @ Dec 11 2020 06:33pm)
My wife's better at finances than me, but mostly because I always want to buy new computer stuff or eat out.

She would be fine just eating buttered noodles with black olives every day.


Italian? My old room mate was Italian and that's all he ate.
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