HOW TO BE INDEPENDENT #1
Updated: Apr 13, 2019
Hey Nomad Crew. This topic was on a poll that I have recently posted on my Instagram page (@megalison_). Well, it was tied with the other topic "How To Find Your Voice". Don't worry that post is coming soon.
So here is my advice on this topic.
(you can add or take away anything from these lists you don't need to worry about it)
- #1 -
- creating a budget for groceries, spending personal and needed, unexpected expenses, appointments, savings
- figure out how much your bills are each month then break it in half or thirds to split the amount between your two or three paycheques each month
- have all your bills go on your Visa or MasterCard which will help you pay it off each month because once your paycheque comes in, you can transfer the money over to that account
- find out if you can get your bills cheaper, because there is companies that will offer better plans for some of the things you are already paying for (ex: health insurance with prescription drugs with 80% coverage for both will cost around $62 per month. the other insurance for just prescription drug with 100% coverage which means the cost will go under your payment for your health care premium for the year to the government. so getting rid of the prescription drug coverage in your current plan, you will go from that current amount down to roughly $37 per month. that's is an extra $25 per month you will be saving!)
- another bill you can possibly get cheaper is your phone bill, if your plan is on a Tab then once it comes down to $100 or less owing on your phone, PAY IT OFF so your phone will decrease by the Tab amount you were paying (ex: $74.60 phone bill + $15.00 Tab= $89.60 so paying off the Tab you just be paying the phone bill part which already includes that annoying tax.)
- #2 -
Once you got that first part sorted, start figuring out what you want to be saving up for.
MOVING OUT: Well, my BIGGEST tip is starting making a list of EVERYTHING you will need to move out except for the big furniture because you can purchase those the week before you move (you already have the bedroom stuff). After that list is made on your phone in Notes, start slowing purchasing it and having organized in boxes that will be labeled for kitchen, bathroom, living room, laundry room, and overall house. Trust me but you have the most stuff to pick up is the kitchen section, it's best to knock out that section first.
CAR: check what model you are looking for, the mileage already on it, the condition, gas type, comes with winter tires and separate rims if it needs it. with having a car, keep track of your gas mileage because you are require to change or fix certain parts of your vehicle after so many kilometers. plus it gives you a good visual on and how much you are filling up plus able to figure out how long you can go without gas.
LAPTOP/ COMPUTER: storage amount, condition, year, and model
SCHOOL: classes, prices (check if you can afford it up front or apply for student grants and loans because 1) there is no interest tax 2) you can claim it on your income tax
Whatever you are saving for, plan it out to visualize what all goes into getting it.
- #3 -
Retirement savings is important that you start putting a small amount towards each month. Because the earlier you start, the better it will be in the long run.
- #4 -
FILES: have a separate fill for your work paperwork, insurance (health, dental, and car, and house), phone, bank
- #5 -
Get yourself a planner or start using your calendar on your phone. Why? Because you will be able to see what you have for the day, also see what you have coming up.
- #6 -
TRAVEL AND TRAVEL FUND: make a savings account and plan for the trips you want to go on.
Ex: say you want to go to Scotland, okay so what is it going to cost you? Food, transportation,commendations, shopping, unexpected events, etc? Start with figuring what you need to save for each category for this one trip. By figuring the expenses for each part of this one trip,you are able to give yourself a visual on how much you to need to save each month in order for to make it work.
- #7 -
Get travel insurance! You will never know if it will come in handy or not, but always be on the safe side.
I recommend you using TuGo Travel Insurance. By filling out the questionnaire & application, they will give you a quote on how your travel plan will come to. It's budget friendly and filling out the forms is free of charge.
Link: https://mbsy.co/tugo/44927667 to get TuGo Travel Insurance