A Money Coach in Canada

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Dr. M. Elizabeth Snow
Vancouver, BC, Canada

Why I Bought A Smart Car

I am a thoroughly cheap frugal person. I’m sure it comes from the many, many years I spent as a starving student1. So when I got a car that required me to have a car, “how much is a car going to cost me?” was one of the first things I wanted to find out. The two3 main things I considered were: (a) how much the actual car would cost and (b) how much gas would cost me.

I knew the following things:

  • I will be using the car mainly for driving to work (35 km each way) and then driving around to various sites in the Lower Mainland for meetings. This driving will pretty much all be on my own.
  • The other thing I will use my car for is to drive to hockey, where I’d either be driving on my own or with one other passenger.
  • I don’t need any bells or whistles. Truly, the only requirements I have for the car is that it it fits me and my hockey equipment and has a cup holder for my ever present travel mug of coffee.

a. Cost of the Car

I have long had a crush on the smart. I also loved my old Honda Civic. And being a member of the Car Co-op, I’ve driven all sorts of different cars lately, so I know that I like the way the Toyota Corolla drives, but I hate the Toyota Yaris.

There seems to be a misconception that the smart car is really expensive (perhaps it’s because it’s made by Mercedes Benz?), as evidenced by the countless people who have said to me “Aren’t those EXPENSIVE?” when I say that I’ve bought one. But here’s a quick comparsion4 of the cost of each of the base model with no extra options added for each of these cars (and a few hybrids thrown in for good measure):

Car Cost After Taxes & Other Fees
Toyota Yaris Hatchback (2008) $15,144.45
smart fortwo Pure (2009) $16,227.75
Toyota Corolla (2009) $18,070.85
Honda Civic DX Coupe* $20,792.00
Toyota Prius (2008) $30,591.65
Honda Civic Hybrid* $32,385.80

*Honda doesn’t indicate on its website to what year’s model they are referring.

And not all base models are created equal. For example, the Corolla didn’t include things that the smart fortwo comes with standard, like keyless entry, power windows and a first aid kit and the Toyota website allows you to choose the older model (2008 or 2009) of their cars, which may not still be avaialable, so if you have to go with a 2009 or 2010 instead, the cost would be slightly more than what I’ve listed here.

So, you can see that the smart is a fair bit cheaper than the other cars I’ve considered and significantly cheaper than the hybrids. (The only one that is cheaper is the Yaris Hatchback, which I *hate* driving).

b. Cost of Gas

The other big thing to consider is how much gas is going to run you. So here’s a comparsion of the fuel economy of these cars. The measure of fuel economy is given in litres of gas per 100 km. So the lower the number (i.e., the fewer litres of gas you burn when you drive 100 km, the better). The measure also gives you an easy way to see how much gas is going to cost you – for example, if gas costs $1/litre, then a car that gets 5l/100 km will cost you $5 in gas for every 100 km you drive.

Here is the fuel economy given for each of these cars on their respective websites:

Car Fuel Economy (L per 100 km)
City Highway City & Highway
Combined
Toyota Yaris Hatchback (2008) 7.0 5.5 6.3
smart fortwo Pure (2009) 5.9 4.8 5.4
Toyota Corolla (2009) 7.5 5.6 6.7
Honda Civic DX Coupe
(manual transmission)
7.4 5.4 not given
Toyota Prius (2008) 4.0 4.2 4.1
Honda Civic Hybrid 4.7 4.3 not given

You can see from this table that the one cars that get better fuel economy than the smart are the hybrids, which cost almost double what a smart costs to buy. I also noticed that all the cars except the Prius get better fuel economy for highway driving than for city driving – I dont’ know what the signficance of that is, but it kinda jumped out at my when I was compiling the numbers.

And then there’s financing

There are a number of financial incentives to buy the more eco-friendly vehicles. My smart car had no Provincial Sales Tax (P.S.T.) due to a provincial incentive for buying an eco-friendly car and there was a $1250 “spring rebate.” The dealer was offering 3.9% financing, but I chose to go with the Vancity Clean Air Auto Loan, which provides lower loan rates for people who buy fuel efficient cars. Specifically:

Only the smart car, the Prius & the Civic Hybrid fall into that first category. The Civic, the Corolla and the Yaris, along with 13 other cars, get the slightly higher prime + 2% rate. Given that the prime rate is so low (2.25% on the day I got my loan), prime + 1% is a pretty sweet deal!

So there you have it. In addition to the fact that I’m totally in love with the smart – so cute, fun to drive, less impact on their environment than most other cars, parkable in the tiniest of parking spaces, high safety rating – it’s also a pretty good deal financially speaking.

Also, for the record, this blog posting is not paid for in anyway – I just love my smart and want to share my smart enthusiasm! Actually, I’m becoming something of a smart car evangelist… perhaps I should ask them for commission? ;-)

.1People talk about the “ivory tower” of academia, but let me tell you – they must have spent all the money on ivory, because they certainly don’t spend it on grad student salaries2
2Assuming you are getting any salary at all.
3I assumed car insurance would be the same no matter what car I bought, since I knew I wasn’t going to be buying a Ferrari or anything.
4These prices are all taken from the car companies’ respective websites, which conveniently have a “build your own car” tool that allows you to pick whatever options you like and find out how much the car you want will cost after taxes and fees. The price for the smart fortwo is the price that I actually paid.

Dr. Beth in Dr. Car

Dr. Beth in Dr. Car,
originally uploaded by Kalev.


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I’ve been adamant about not stepping foot inside the local Walmart store here in Yellowknife. You know all the reasons:

But the company is starting to challenge my ideas about them.

Back in 2006 they switched to LED lights for their refrigerators, and that was before I even used LED.

And today, Walmart Canada announced that their “home office” (presumably their headquarters in Mississauga) is a zero waste facility, with plans to adopt this across all their stores.

Even more impressive, I learned that as early as 2005 they have committed to three goals:

  • produce zero waste (clearly they’re moving forward on this)
  • be powered entirely by renewable energy (they just signed a contract with Bullfrog Energy to provide their energy for their home office, and stores in Ontario, Alberta and B.C.)
  • make more environmentally “preferable” (whatever that means) products available to consumers.

Much as I love to hate big box stores in general, and Walmart in particular, I have to admit:  These are powerful commitments, and if a monolith makes these kinds of changes, surely it will not only have a positive impact in its own right, but also motivate others to adopt similar policies.

Readers:  What do you think?  Should I start shopping at Walmart?  Are they Going Good?

Photo Credit:  Jason Mundy

Canadians, certainly Vancouverites, will likely recall the appalling story of the homeless panhandler who beat and robbed an elderly gentleman who had regularly given him some money, outside Holy Rosary Cathedral.

Here’s the extraordinary update on the story, courtesy of a newsletter from City in Focus:

**************************

I was struck by a story in the Vancouver Sun Editorial back in March. A drug crazed homeless man named Darcy, who had been on the streets since dropping out of school in grade 6, attacked and robbed a retired 81-year-old doctor. The attack was videotaped inside the Holy Rosary Cathedral, a downtown church. The victim was a kind gentleman who had often given money to Darcy, a vulnerable individual who was known by many in the congregation because he hung around the building

At this point the doctor and the church had a choice – they could direct their anger at Darcy (and justifiably so!). Prosecuting this chap would be met with great public agreement. The other option (and the one the church members took) was to channel their anger in to a search for understanding and ultimately a constructive way to help this person.  They connected him with a Catholic transition home, Luke 15 House, located in Surrey. By the time of his court appearance, Darcy had been clean for 6 months and was preparing to join the church of the very member he had robbed.

Anger evolved in to courageous choices. The church community stepped up to offer forgiveness and aid to Darcy. But Darcy also had to make a choice to dwell or move forward. Coming from whatever place of pain and dysfunction he resided in, he had the courage to take the opportunity to become healthy and begin the road to “make things as they ought to be.”

It’s a perfect model for us as we face issues in 2009 where we are at a crossroads. Like Holy Rosary Cathedral we may need to choose forgiveness. While like Darcy, many of us may need help to move forward. Whatever our situation is, the important thing is that our anger is not just venting but indignation that propels us to courage. Our frustrations at how things are needs to be a mere stop-over, a motivation point for change.

vancity-logo

For the past 3.5 years I worked for Citizens Bank of Canada (bank esp. for progressive Canadians) which in turn is owned by Vancity Credit Union. The whole glory of credit unions is that they are cooperatives, and the members not only share in the profits (I’ll get mine in a month or so.  yippee!) but also we get to decide who is going to govern the credit union.

Last week I had coffee with Jennifer Sweeney who is running as an independent to be a director.  Last time, she missed being elected by a very small margin, and I hope this time she gets a landslide – I think she’s exactly right for the position.

Among other things, I probed re: employee engagement.  I’m a By The People, For The People kinda gal (would you guess?) and after 3.5 years on the inside am even more convinced that it’s the folks who do the everyday tasks that make, or break, the cooperative spirit of Vancity, and thus the quality of experience the members receive.   It’s not about metrics or output, it’s as much about soul as anything.   Genuine Soul, combined with competence, can generate results the likes of which Canada has yet to see from a financial institutions.

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Here is Jennifer’s response to my query.  Read it and consider if you would also like to see her on the Board of Directors, and vote accordingly.

_____________________________________________

I had coffee with Nancy last week and she asked me my thoughts on employee engagement.

When I hear the term “employee engagement” I often wonder if it has become another meaningless catch-phrase.  People are quick to adopt new words and terminology without thinking about what they mean.  If employees are “engaged”, what does that look like?  What does it feel like?  How do you know?  How do you make it happen?

A few years ago, I worked under contract for a government ministry to address recruitment and retention of professionals working with young children.  During that time I had the chance to travel around the province and hold confidential interviews with people about their work and their working conditions.  Over and over, I heard stories of people going above and beyond the call of duty when there was a supervisor, manager or local champion who valued them and worked to support them.  I started reading anything I could put my hands on to help me understand the complexities of retention in an increasingly mobile workforce.  I posted a note above my desk to remind myself of this fact:  most people leave because of their boss, not their job.

The most corrosive element I have seen in my years of work with people in many different environments is when there is a lack of trust or trust has been breached. Few people have the courage or the willingness to enter into the difficult conversations that must happen in order to move past a problem. Human resources professionals need to be in a position to fully support employees in reporting problems and working them through.

As I am running for election for the board of directors of Vancity, I have been thinking about the role that a board plays in governing an organization.  A culture where people comes first is vital for real employee engagement.  This takes a human resources department that has adequate resources to influence major decisions.  Healthy organizational culture with employees engaged in the mission of the organization makes for happy employees providing outstanding service to members.   That is what I would like to continue to see at Vancity.

…and now for a message from our sponsor, on the Feast of Epiphany,

this poem by T.S. Elliot,  my favourite in English 200.

Journey of the Magi

3101743893_b5f9abfc61.jpg
A cold coming we had of it,
Just the worst time of the year
For a journey, and such a long journey:
The ways deep and the weather sharp,
The very dead of winter.
And the camels galled, sore-footed, refractory,
Lying down in the melting snow.
There were times when we regretted
The summer palaces on slopes, the terraces,
And the silken girls bringing sherbet.
Then the camel men cursing and grumbling
And running away, and wanting their liquor and women,
And the night-fires going out, and the lack of shelters,
And the cities dirty and the towns unfriendly
And the villages dirty and charging high prices:
A hard time we had of it.
At the end we preferred to travel all night,
Sleeping in snatches,
With the voices singing in our ears, saying
That this was all folly.

Then at dawn we came down to a temperate valley,
Wet, below the snow line, smelling of vegetation;
With a running stream and a water mill beating the darkness,
And three trees on the low sky,
And an old white horse galloped away in the meadow.
Then we came to a tavern with vine-leaves over the lintel,
Six hands at an open door dicing for pieces of silver,
And feet kicking the empty wineskins.
But there was no information, and so we continued
And arrived at evening, not a moment too soon
Finding the place; it was (you may say) satisfactory.

All this was a long time ago, I remember,
And I would do it again, but set down
This set down
This: were we led all that way for
Birth or Death? There was a Birth, certainly,
We had evidence and no doubt. I had seen birth and death,
But had thought they were different; this Birth was
Hard and bitter agony for us, like Death, our death.
We returned to our places, these Kingdoms,
But no longer at ease here, in the old dispensation,
With an alien people clutching their gods.
I should be glad of another death.



Photo Credit: Emilio Giordano 

                
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