Moving IN: Apartment

I recently moved into my first apartment and this is the most "Adult" thing I have ever. It's really overwhelming and weeks before moving in, I'd wake up at 3am and panic at the things I'd have to pay, things I didn't buy, things I bought but regretted...etc...

I learned quickly that it was a waste of time to do these things, to worry about stuff that you can't really do anything about at 3am. Here's what you should worry about now, if you're thinking about moving into your own apartment for the first time.

1. Can you afford it?

No, really, can you? Sure, we'd all like fancy apartments as our first apartments, but what's the point if you cannot afford rent and have to eat ramen noodles for the first 3 months?? There are also ways to compromise, you can find the apartment of your dreams but be open to roommates!

2. Do you have an emergency fund?

An emergency fund is 6 months of your monthly expenses in a bank account that you should never touch, unless there is an emergency. And that's the minimum!

I love this calculator from Royal Bank Canada that calculates how much you need to have in emergency funds according to how much you make:

http://www.rbcroyalbank.com/savingsspot/emergency.html

3. Don't get too overwhelmed:

Stick to the strick minimum and then casually upgrade.  You don't have to get cable right away, get netflix and a cheap tv. Or don't get a t.v and use your computer until you can afford it. Take your time to make the major purchases or you'll end up regretting it.

4. Ikea, Ikea, Ikea

Ikea is everything. I got a Karlstad Sectional for $500 (Retails for $1100) just because I kept on visiting their "As is.." section. I was also casually informed that you could ask for a better discount but keep in mind that an associate can only give you 50%! Anything more, they'd have to call their manager and they are usually hardasses! So if an item is discounted at 25%, go for it! My philosophy is that everything ends on at the As Is section, one day or another. Don't be afraid to ask the associates if they have what you're looking for. Sometimes, they will not display all the items due to a lack of space :)


There you go!

52 week money challenge

Black girls finance.

I'll be honest, I am not the most financially minded person out there. I've made some of the weirdest mistakes when it come to money saving and I am just learning how to get over that.

So this is my blog. Where is the ceiling? What is the limit ? I want to be financially secure, save as much money as possible, invest in myself, get rid of the boundaries.

I'll be talking about money, but maybe about my lifestyle too? Bear with me, I am still learning.

I am located in Canada, and maybe the advice that I am giving you will not necessary apply to you. Maybe stick to the basics, and let's move on from there?

First thing I did was create myself a Tangerine (Formally known as ING Direct) account. I am the worst at actually putting a certain amount myself  every pay check, but I started to follow the 52 week money challenge. What is it? Pretty simply, you save $1 the first week of the year, $2 the second week, $3 the third week...until the 52nd week.

Great idea right? Well yeah, but I what kind of money wiring can I do every month to a bank account? Wire $1 on January 1st? No.

So I decided to do something else. At the end of the challenge you are supposed to get $1,378. If you averaged that in 52 weeks, it would be approximatively $26.5 a week or $53 a month. Since I get paid biweekly, I set up the a biweekly transfer after my paycheque is deposited in my account, to my ING savings direct bank account.

I highly recommend you to do the same thing if you're like me and you cannot keep up with a weekly deposit. Or you could be organized and wire $26.5 every monday or friday of the week, into your savings account.

Start Saving!

xx
L

Here's where you can read more about the 52 week money challenge

Learn more about Tangerine here

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