Your Clutter May Be Costing You

Has it ever occurred to you that the clutter in your home has a cost to it? We’re not just talking about the original price of the objects that are creating the clutter, but additional costs beyond that.

Clutter takes up space. Space costs money. Whether you rent or own your home, you are paying for that ‘space’. You are also paying for utilities for that space.Too much clutter can be taking money out of your bank account without you even realizing it.

If you’d like to get some perspective on how much your extra clutter is costing you, try this little exercise. Find out the total square footage of living space in your home or apartment. Then add up all the costs associated with that home, the monthly payment, the utilities and any insurance. Now take those total costs and divide them by the square footage of living space. This is what it costs per square foot to live in that home. Now come up with the number of square feet that is being allocated to clutter. Estimate an amount by counting items and floor space being covered by clutter. Come up with a square footage of clutter, and then, multiply that number by your cost per square foot and you will have the monthly cost of storing clutter in your home. It can be quite shocking.

Hopefully, this little exercise provides you with the extra incentive you need to de-clutter and get the most value out of the space you are living in.

Canadian debt hits $1.5 trillion!

Once again the federal government and Bank of Canada is sounding the alarm bells! Canadian debt hits $1.5 trillion!
We need to starting taking these warns seriously.

“We have very low interest rates in Canada,” Flaherty said. “We need to remind Canadians that historically low interest rates will not be there forever, that interest rates really only have one way to go and that’s up,” Flaherty said.

read on….

Renting Versus Buying a Home

A lot of people make the mistake of simply comparing the cost of a rent payment to the cost of a mortgage payment, when considering whether they should continue renting or purchase a home. There are several other things that need to be taken into consideration when comparing these two options.

The first thing to remember is that in addition to the mortgage payment on the house, you will need to pay house insurance and property taxes. These costs will vary depending on the value of the house and the location of the house. You will also need to make a down payment and pay closing costs when purchasing a home. Cost of utilities paid in each of the different scenarios need to be considered in the comparison also. When looking at homes to purchase, it is always wise to ask for statements that show the costs of utilities for the previous year.

Another difference between renting and owning a home is the time and costs of maintenance, in and outside of the home. Are there areas of the home that will need replacing in the near future, such as roofing, exterior finishes or floor cover? What ongoing maintenance will be involved in the home: water softener salt, lawn care, snow removal, exterior painting, staining or cleaning? Are you prepared to make those commitments of time and funds?

Each individual needs to carefully consider their own financial situation, and weigh ALL the costs involved when making this kind of decision.