A Thank You

I've had a couple surprises this last couple weeks when it comes to my friends and their finances. I keep in contact with some friends from University through daily e-mails we send back and forth as a group. Somehow we got onto the topic of retirement savings. I was feeling a little sheepish, because I had cut my retirement savings from 18% to 0% when I switched jobs after I bought my house, and only recently had I started to put a little bit back in. This sheepishness is compounded by the fact that I used my retirement nest egg as a downpayment for my house through the new homebuyers program. These friends are professionals, make smart financial decisions, and some of them had actually stayed at home with their parents until they had enough money to buy a house. Surely they must be putting in their maximum contributions?

Nope.

Some of them hadn't even put in a dime yet. Some were only putting in 2%. Of those of us that were sharing, I think my 3% contributions were actually the highest. I was stunned. I'm glad that our discussion moved in the direction of "I really should get on this, even if it's just a little", because I know how much easier it is to save when you're young.

I showed my blog to a friend of mine at work, again with a surprising response. Apparently we have the same consumer debtload. It's creepy close, one total was within $100. It's making me realize that I'm not the only one out there who has made mistakes, I'm not the only one feeling the pinch, and I'm not the only one worried about the future. It's relieving in a way, because struggling with debt can be such an isolating experience.

So, I'd like to thank all of the other personal finance bloggers out there for sharing your stories and encouragement. It means a lot to me, and it helps me stay committed to getting rid of my debt. Thank You!



Seven RRSP growth strategies. (Registered Retirement Savings Plan): An article from: Canadian Chemical News
Retirement realities. (Registered Retirement Savings Plans): An article from: Canadian Manager
Are RRSPs worth it? (registered retirement savings plans): An article from: Canadian Chemical News

A Cornucopia of Things to Be Thankful For

Sometimes I get so wound up and frustrated about things going on in my life (such as the mountain of debt I’m paying off) that I forget to step back and look at all of the positive aspects of my life. So today is all about positivity. Feel free to add your own positives to the comments section, this is a slice of things I’m thankful for:

• I don’t live in a war zone
• I have access to an abundance of healthy food, and I can afford to buy it
• I live in a safe neighbourhood
• The water that comes out of my tap is safe to drink
• My government pays for much of my medical costs
• I don’t live in fear
• My family is alive, healthy, and doing well
• I have friends who are also alive, healthy, and doing well
• I have a home, and it isn’t in arrears
• I’m employed
• My employer provides some traditional benefits: life insurance, prescription coverage, RRSP contribution matching…
• My employer also provides some non-traditional benefits: fresh fruit in the mornings, free gym passes, public transit discounts…
• I had the opportunity to be educated
• I jumped at the aforementioned opportunity
• I’m being provided with the opportunity for further education
• I have disposable income
• My needs are being met

Life is quite good, and I know my financial issues are of my own making. I’m happy to have to opportunity to learn from this, and to work my way out of it.