A Money Coach in Canada

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CRAPOLA! Beware the Ides of March indeed!

I popped a hard candy in my mouth yesterday at work and instantly seemed to have two instead, but one was not candy, it was my tooth! My molar no less, and most of it.

“That’s OK,” I thought. “Thank goodness for my dental coverage.”
HA!

As it turns out my best option – an implant – is not covered at all.

Price tag? $4500.00

Let’s see.

That’s one totally awesome vacation, or two really nice ones.

That’s a gym membership, a personal chef, and a really great wardrobe for a year or more.

That’s A DOWN PAYMENT ON A HOUSE in many areas of Canada.

oh.  And have I told you about the past few months of UNEXPECTED EXPENSES?  (I have, but let me rant again) “MY! What a quarter I’ve had! 2 months without a tenant followed by Christmas and travel, plus purchasing a new fridge and a new macbook plus a $700 vet bill plus $600 in semi-annual property taxes due plus helping out someone who needed a serious chunk of change plus the deposit on some renos LEAVES A GIRL BROKE for a bit, even if she is a money coach who sets aside funds for these sorts of things.”

I’ll make it of course.  But my emergency fund will take a body blow.  And it stings to have to spend all that money on something like a tooth in the back of my mouth.   And I’ll have to re-think a few things I’d looked forward to over the coming year.

Readers – have you ever had a dental bill with that price tag?  How did you manage it?

Photo credit: jcolman

Well this is a juicy week!

Canada is about to get its first plastic money.

Lululemon’s founder, Chip Wilson (I’ve met him a coupla times. Good guy but I’m so not a Lululemon person. No yummy-mummy, me! But I digress.).. Chip Wilson is now a billionaire

Angry Birds (I’m stuck at level 4-2. Where are you?) developers have raised $42M in seed (ha ha) money.

Public Servants probably need to shell out more from their paycheques to fund their future pensions.

and the UK holds their bank rate to 0.5%

PhotoCredit: Brian.Ch

Do you typically think the worst about your financial situation?

If so, that’s a common psychological phenomenon. It’s known as filtering.
Filtering means you take the negative or upsetting details and focus on them, while filtering out the positive aspects.

For example, clients of mine often focus excessively on their debt compared to their assets. While debt is worthy of attention and counter-strategies, it should be put in appropriate perspective as a part of overall net worth. Otherwise, debt can assume the drivers seat in financial decision making. This is usually counter-productive.

So here’s a financial decluttering task should you choose to accept the mission.
Identify an aspect of your financial life that may be upsetting you out of proportion. Do some “talk back” by articulating a corresponding positive aspect.

Examples:

  • “I have $25,000 of debt AND I HAVE $80,000 EQUITY IN MY HOME”
  • “I chronically overspend AND I AM FULLY CAPABLE OF ADJUSTING THAT WITH TIME AND PRACTICE IF I DECIDE I REALLY WANT TO”
  • “I am underemployed right now AND I HAVE GOOD SKILLS THAT I WILL PUT TO BETTER USE WITHIN THE NEXT YEAR”

Photo Credit: SparkleIce

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