Personal Finance
Better Finances for a Better You
Topic: "Non-Essential Expenses"
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Did you know?
Gen Z prefers giving physical items over gift cards. Apparel (56%), cosmetics and beauty products (56%), jewelry and accessories (55%), toys (51%) and alcohol (50%) top the shopping lists of Gen Z gift-givers
Canadian consumer preferences and behaviour trends shaping the holiday shopping season →Word of the week
The Diderot Effect
The Diderot Effect states that when we acquire a new possession, it often leads to a cycle of acquiring even more new items. As a result, we end up buying things that our past selves never needed in order to feel content or happy.
The Diderot Effect: Why We Want Things We Don’t Need — And What to Do About It by James Clear →Word of the week
Vampire Energy
Vampire energy, often referred to as phantom energy, is the power that electrical equipment consume while they are plugged in and in standby mode, even when they are fully charged.
At least $4 billion paid for wasted energy every year: who knew a vampire bite could be so expensive? →Budgeting
Fall Budgeting If summer is a season of spontaneity and indulgence, then fall offers a counterpoint: It's a chance to get back on schedule, and back on budget.
Fall "money cleanse" could help you get your finances in shape by Kimberly Palmer →Quote of the week
"Money, like emotions, is something you must control to keep your life on the right track."
- Natasha Munson
Saving
Check, please! The etiquette of splitting the tab
NPR Life Kit: Chef and food writer Kiki Aranita walks us through common dining scenarios to ensure the bill is handled fairly and smoothly. →Word of the week
Non-Essential Expenses
These are expenses that are not necessary. Another way to identify these expenses is to determine if they are 'wants' rather than 'needs'. Non-essential expenses might consist of: - Coffee - Entertainment - Subscription services (Netflix, Disney+, etc.) - Meal delivery services (Uber Eats, DoorDash, etc.) These are unlike rent, mortgage, and food which are 'needs' or expenses that must be met.
Follow every dollar - Track and analyze your non-essential expenses →Saving
See your spending from a different perspective...
Saving starts with spending less on non-essential expenses. Learn how we can help →Infographic of the week
How much do you spend on your daily coffee?
Mapped: The Price of Starbucks Coffee, by Country
Do you know how much you spend on daily coffee? See how you compare →← Curating the web to find the most interesting and helpful information about your money.