en-us
But you don’t have to go broke to look beautiful. Here are some of our best tips on how to save money and still look fabulous.

• Would you believe one of favourite beauty products is greasy, fragrance-free and over 100 years old? With prices starting at just $3.39 for a 13 oz. tub, Vaseline can be used to remove eye makeup, moisturize lips, hands and feet and even to minimize split ends.

• Let your hair down.  Stretch out the time between haircuts. If you usually get your hair cut once every six weeks, try stretching it to once every eight weeks and save yourself the cost of at least two haircuts plus tip each year.  If you highlight your hair, make sure your colourist knows how often you are willing to return. You can stretch out the time between colourings with more subtle highlights.

• Most of us have a body lotion, hand cream, and even a moisturizer for just feet. But the truth is, with the exception of your face, you only need one bottle for head-to-toe.

• To keep your hair professionally coiffed for less, look for salons or cosmetology schools that do stylist training and sign up to get a student cut or colour. One of the Smart Cookies recently visited the uber savvy Blanche McDonald Centre for Applied Design in Vancouver. She got a cut and colour by a stylist in training. The result — a hairdo she raves is the best she’s ever had! And the cost of this luxurious treatment: Only $40!

• Shop at a drugstore that offers a points program. If you’re going to spend money on beauty, you might as well be rewarded with points that can be applied to future purchases. One of our favourites is Shoppers Drug Mart’s Optimum Points Program, which not only allows you to earn points that can add up to as much as $200 in free products, but also runs a program which allows members to donate their points to local charities.  To earn even more points, we stock up on necessities at their 20 times the points events.

• There are also amazing beauty finds on eBay, but just be careful. Be sure to review the sellers’ history and feedback, and compare picturess of the product to those on the brand’s official website. Pay close attention to the logo and colour. Only buy products that are photographed in their original, plastic-wrapped packages.

For more on how to save, go to our website, www.smartcookies.com. If you have comments or questions, email us at smartcookies@metronews.ca.  

– Tune in Monday nights at 10:30 p.m. EST/PST on the W Network and be sure to visit
smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/comment/article/230756 Tue, 19 May 2009 01:06:51 -0400 Smart Cookies http://www.metronews.ca/Halifax/comment/article/230756
Finding out what type of coverage you already have is the first step. Research the details of your homeowner’s insurance and your existing health-care policy. Then contact your credit card company to find out if they offer insurance perks for situations such as lost or delayed baggage, trip cancellation or accidental death.

Trip Cancellation and Interruption Insurance
This coverage is designed to help you get money back when you need to cancel your trip or if your tour company goes under. Base the need of this insurance on the cost of your ticket or trip.  If you are flying from Vancouver to Calgary, you can likely forego it. If you are taking an expensive trip-of-a-lifetime, then buy insurance. And look for a policy that will cover you returning home early if there is a problem at your destination. 

Baggage Insurance
Although airlines are liable for lost or damaged luggage, what they offer you will likely not cover what is lost.  The limit for lost, delayed, or damaged baggage is $3,000 per passenger on a domestic flight and about $450 per bag for an international flight. If you do want extra insurance, travel experts suggest asking the counter agent for “excess valuation.” This provides you with up to $5,000 additional coverage. 

Health-care Insurance
Many people make the very big mistake of assuming that, while travelling, their medical needs will be covered by their existing health-care insurance. If you are travelling outside of your own country, check your policy. If you are not covered, be sure to purchase medical insurance. Also buy a policy that covers “medical evacuation and repatriation” insurance.  In other words, if you are sick or injured while in another country, you will be treated, stabilized and then flown back to your own country.

A Final Note
Be sure to buy all of your insurance through third-party insurers rather than travel agents or cruise lines.  The reason is simple — if your travel company goes bankrupt, they won’t have the money to pay out the insurance.

Knowing you’ve covered your bases will make you a more confident traveller. Bon Voyage!

– Tune in Monday nights at 10:30 p.m. EST/PST on the W Network and be sure to visit
smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/comment/article/227473 Tue, 12 May 2009 00:28:24 -0400 Smart Cookies http://www.metronews.ca/Halifax/comment/article/227473
Improving your “wealth health” as we like to call it, can be done in a few easy steps:

• Ask yourself, what does my wallet say about me? Is your cash organized in a wallet or purse? Or are coins and bills crumpled and shoved away in a ragged old handbag? If you are serious about attracting more money into your life, you need to first treat the money you have with the respect and value it deserves.

• Make a list of how you are both respectful and disrespectful towards your money. Do you spend money on others when you can’t afford it? Do you wash your clothes, when they are still clean and could be worn a second time? Do you wait until the last minute and send a package with express delivery, when it could be sent regular mail, with just a little bit of planning? We are willing to bet that in the instances in which you have respected your money, pleasurable things have happened, while in the other instances, you have experienced unhappy consequences.  

• Be positive about money. Being a Smart Cookie is not about doom and deprivation. Rather it is about focusing on the positives and attracting more money into your life. If you grew up believing that money was evil, that you needed to hoard your money, or that to want to make money is selfish, you likely still allow these beliefs to control you and the way you approach life.

If you catch yourself talking about what you don’t have, stop yourself.  Instead, shift your thinking. Start focusing on what you really want and how it will feel once you have it.  And of course, be grateful for what you already have.

• Pay yourself first. We’ve all heard this before, but are we actually doing it? Respect yourself and what your money can do for you in helping you reach your goals.  Even if you can only afford $25 each month, make sure that that money is automatically transferred off the top each month into your dream fund.

• Respect your stuff. Although material items are just that, you need to respect them, and the amount of money you spend on acquiring them.  Think of all the money you could have, if you stopped spending money on replacing things.

For more on figuring out what you really want out of life, go to our website, smartcookies.com, and complete the “Perfect Day” exercise. If you have comments or questions, email us at smartcookies@metronews.ca.

– Tune in Monday nights at 10:30 p.m. EST/PST on the W Network and be sure to visit www.smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/comment/article/223587 Tue, 05 May 2009 00:28:37 -0400 Smart Cookies http://www.metronews.ca/Halifax/comment/article/223587
Know Your Numbers
The first thing you need to do when you decide it’s time to get your financial house in order is to learn about its foundation.

To do this, you will need to know your numbers.  You’ll need to know what’s coming in each month and what’s going out each month (non-fixed expenses).

We encourage you to sit down, pull out your statements, and add your numbers up.  You’ll be shocked at how much you spend on non-essential items. For an easy to use template to track your spending, visit smartcookies.com.

Organize Your Debt and Build Up a Safety Net
Next, make a list of your debts owing, ranking from highest to lowest interest rate. Develop a plan on how to pay that money back, starting from the top of the list. For some of us, this meant taking on part-time jobs and contract work, or cutting out non-essentials from our spending plan, and for others it meant using the equity in our home.

Once you are debt-free, build yourself a cushion of at least four to six months salary. And make sure you are investing your money in a tax-free savings account. You work hard for your money; make sure it is working for you.

Fix Your Fico
FICO scores, the credit scores most lenders use to determine your credit risk, range from 300 to 900. The higher your FICO score, the lower risk you are considered to be to a creditor — and the less interest you’ll pay.

Most importantly, you should review your credit report and know your credit score.  Requesting a copy of your credit report for personal use does not affect your credit score. To order a copy of your credit score, visit transunion.ca or equifax.ca.

To keep your score high you should be making monthly payments on time, aim to have long-term credit in your name and keep your total balance owed to 35 per cent or less of your total credit available.

For more money saving tips, pick up a copy of our book Smart Cookies Guide to Making More Dough on sale in bookstores.  You can email questions or comments to smartcookies@metronews.ca.  

– Tune in Monday nights at 10:30 p.m. EST/PST on the W Network and be sure to visit
smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/comment/article/219982 Tue, 28 Apr 2009 01:48:48 -0400 Smart Cookies http://www.metronews.ca/Halifax/comment/article/219982
While you’re required by law to pay tickets from the city, we wanted to find out if the same rules applied if you received a ticket while parking in a private lot.  Here’s what we discovered.

When you enter a lot, there will be posted terms and conditions. These terms and conditions will usually state that by driving into the parking lot, you agree to these provisions.

Essentially a contract is formed between you and the parking lot company. If you choose not to pay the ticket, you should be aware of the repercussions, such as the company suing you for breach of contract or passing your debt on to a collections agency.

If you dispute the ticket, because you don’t agree with certain terms and conditions that were posted in the parking lot, then theoretically a collections agency is not allowed to report your unpaid debt to credit agencies. That’s a good thing, because it means your credit score will not be affected while you are trying to sort the matter out.

But keep in mind, there are some cities in which collections agencies are not restricted in the same rules, and may in fact pass on your unpaid debt to a credit agency. Once this happens, it can be difficult to have your record wiped clean, so it’s worth checking this out in advance.

There is always the possibility that you may be able to negotiate a ticket. An argument that you can make is that the terms and conditions weren’t clearly posted when you were parking, so you actually didn’t know what you were yourself getting into. Another possible legal argument is that because the fine on the ticket is so disproportionate to the lot’s hourly charge, the contract should not be enforced.

We would encourage you to at least contact the parking lot company and put them on notice that you’re disputing the ticket and attempt to negotiate something.

You never know whether or not you’re going to be successful but it’s worth a try. Private lots can be individually owned so the amount of wiggle room you have will depend on the company. When dealing with customer service, be polite but persistent.

Just a few weeks ago, one of the Smart Cookies attempted to have a parking ticket reduced. At first, the private lot parking company was not receptive to her request. However, our Cookie was persistent and, lo and behold, the ticket price was reduced from $60 to $15. That’s definitely worth a five-minute phone call.

Have a tip for the Smart Cookies? Email us at smartcookies@metronews.ca. Visit www.smartcookies.com or pick up Smart Cookies Guide to Making More Dough for more on saving and smart spending.

– Tune in Monday nights at 10:30 p.m. EST/PST on the W Network and be sure to visit www.smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/comment/article/216371 Tue, 21 Apr 2009 00:22:03 -0400 Smart Cookies http://www.metronews.ca/Halifax/comment/article/216371
Admittedly, however, there was a time when we thought trying to negotiate a better price might make us appear cheap, rude or worse — embarrassed if we were turned down. 

Now is the time though to negotiate on just about everything. To help you keep more money in your pocket, we’ve listed a few simple strategies to make the most of your negotiating:

Be Realistic
Don’t go in and ask to get something half price off up front. Let the retailer name their best offer and work from there. You might come in too high and offend or too low and leave cash on the table.

Be nice
The old adage you catch more flies with honey applies to money as well.  You get more savings with a smile.  

One at a time
If you’re looking to get a group discount, negotiate the price of one item down first. For example, if you were looking to get a group of dresses (for a wedding, say), first negotiate a single dress down and then explain you are interested in buying more and the price should drop even further.    

Pick the best day of the week
Think about when you’re happiest and it’s probably towards the end of the week. That’s also when retailers are likely at their happiest and most accommodating as well. Thursday and Friday are often the best days to negotiate on price. 

On the flipside, make an appointment for a salon or service in the first half of the week (salon’s slow days) and you may be able to negotiate a 10 to 20 per cent discount. Referring new customers could also earn you a price break.

Mom and Pop shops
Whenever you’re buying from the owner, discounts are easier to get than in chain stores. Mom and Pop shops are also more likely to work a deal with you.  They want to deter you from shopping at the big box stores and will have more flexibility to make a price change.

Cash is king
Vendors typically pay a processing fee when you use your card so they are more likely to cut you a deal using cash. Many times, it’s possible to also negotiate the tax off if you are using cash.  

Other free stuff
If you don’t get a discount, see if they can throw in anything additional.  Free delivery, extra perks, etc.  

Have a tip for the Smart Cookies? Email us at smartcookies@metronews.ca. Visit smartcookies.com or pick up Smart Cookies Guide to Making More Dough for more on saving and smart spending.

– Tune in Monday nights at 10:30 p.m. EST/PST on the W Network and be sure to visit
smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/comment/article/212776 Tue, 14 Apr 2009 03:07:14 -0400 SmartCookies http://www.metronews.ca/Halifax/comment/article/212776
The business of gift cards is a multi-billion dollar a year industry; with retailers making millions in revenue from unredeemed cards.

If you need to buy someone a present, and you’re debating a gift card, we’ll settle that debate right now: Don’t.

While the gesture is nice and it might say that perhaps you’ve put a little more thought into your gift, it can actually end up being more costly in the end.

Unless you are certain that the gift card recipient will be making a big purchase and could use that money to put towards the item, or you know for sure that the card will go to great use, cash is always better. It’s just as thoughtful (and easier for everyone) to put some money in a nice card and add a note mentioning that this is to put towards whatever they happen to love or are saving for. Let’s be honest, who wouldn’t much rather have cash?

Here’s the main problem with a gift card. If you can’t find anything you want in that particular store, the card goes to waste. Or often you end up with $4 remaining on your card and then have to spend even more cash just to use up that remaining money.

If you are going to go the gift card route, to avoid giving someone a card for a store they may not shop at, buy one from a mall. That way they will have more selection and more opportunity to use every last cent on the card.  

If you are on the receiving end of a card for a store you would never dream of stepping foot into, you can always try to sell it online.  There are sites, such as plasticjungle.com where you can sell or trade your gift cards.

A few more things to keep in mind: Make sure the gift card you purchase does not have an expiry date. If your card expires before you’ve had a chance to use it or exhaust its value, contact the issuer. They may extend the date, although they may charge a fee to do it.

If you do end up with some cards with just a few dollars on them, check with a friend who may also have a small balance and pool your resources. Or, as a last resort, if you receive a card for a store you don’t shop at and don’t plan to sell or trade, re-gift it to someone you know shops there.

Have a comment or tip for the Smart Cookies? Email us at smartcookies@metronews.ca.

Visit smartcookies.com for more on saving, smart spending and making more dough. 

]]> http://www.metronews.ca/Halifax/live/article/209302 Tue, 07 Apr 2009 00:04:32 -0400 http://www.metronews.ca/Halifax/live/article/209302
That’s a lot of “free” money not being taken advantage of and if there’s one thing a Smart Cookie loves, it’s free money.

Follow these simple steps below to stretch your dollar at the grocery store.   

Before hitting the stores:

• Two-thirds of the purchases we make are impulse buys. Therefore, before you leave your home, create a list of every item you will need to make your meals in the coming days. Then, most importantly, stick to that list!

• Coupon “clipping” has gone high-tech. Start with the sites for the stores you frequent; most large chains now have websites that include coupons and details on other weekly deals.  

• Manufacturer’s websites will sometimes display coupons and they tend to be more generous; so if you know you always buy a certain brand of canned soup, log on and see if the company is offering any discounts.

• Join mailing lists of the companies and stores you frequent. Many sites allow you to print off the coupons to take to the store right away, but others will send you the coupons you choose through the mail. If you prefer clipping coupons, then Sunday is the best day to find them.  

• Before heading to the store, also take a quick look in your cupboards and fridge for any coupons on product packaging.

Maximizing Savings:

• Use the sales flyers and coupons together. Many people mistakenly think you can’t use a coupon on sale items, but you usually can. One survey showed that combining these two savings methods meant an average savings of almost $700 a year on groceries alone.

At the Store:

• When you first get to your grocery store, look near the check-out for any coupon books or flyers.

• Consider signing up for the store’s loyalty card so you can receive their automatic discounts. They will also alert you to extra deals. Also, if there is a store you regularly shop at, then get to know the salespeople or grocers as these are the people who are in the know as to when sales occur.  

Rebates:

• Rebates can be a great way to save on everything from drugstore items to electronics. Offering rebates in the store or online is popular because it encourages customers to pick that product for the deal. But between 30-50 per cent of people don’t bother to follow through and get the rebate — which is a bonus for the retailers and manufacturers instead of the customer.

Questions or comments for the Smart Cookies? Please email us at smartcookies@metronews.ca.


]]> http://www.metronews.ca/Halifax/live/article/205534 Tue, 31 Mar 2009 00:56:23 -0400 http://www.metronews.ca/Halifax/live/article/205534
It’s the former service worker in me that feels like I have to do this to supplement his income. But tipping should be more about the service and in some cases, the relationship you have with the person providing it. Yet there is always confusion. Who, when and how much are all questions that elicit different answers.  

Take your barista, for example: Does she automatically get your spare change in her cup? What about the guy who hands you your bag of take-out? Etiquette experts say it’s not necessary but recommend that if it is someone you see often, it’s a good idea to show appreciation.  If, like most people, you have trouble quickly calculating the appropriate amount to tip, visit smartcookies.com for a quick and easy guide.  

The norm for restaurant service is 15-20 per cent.  If you’re in a large group, be sure to check if gratuity is already included, as it often is for large parties. For most other restaurant staff, such as a bar server or checkroom, $1 to $2 is an acceptable tip.

If there are services you are unsure about how much to tip, call ahead and ask what the norm is. In situations where there can be multiple people looking after you, such as a beauty salon or spa, the easiest thing to do is tip about 15-20 per cent on the entire bill and ask that the tip be split between those who attended to you.

When travelling, it’s best to keep a bunch of small bills on hand, so that you’re prepared and don’t feel awkward asking for change or giving more than you wanted to. Be sure to check into the cultural norms wherever you are visiting.  As a point of interest, tipping is considered rude and is rarely done in Japan, except in certain cases.

If you happen to be unhappy with the service, never leave zero for a tip without speaking to a manager about the situation. Sometimes it may not have been the person’s fault.  

Not leaving anything just makes you look cheap and won’t solve the problem. You may also receive some kind of compensation for letting them know about the problem so they can fix it. 

]]> http://www.metronews.ca/Halifax/live/article/201833 Tue, 24 Mar 2009 02:58:13 -0400 http://www.metronews.ca/Halifax/live/article/201833
Those who do not review their statements each month gave a number of reasons why — among them the fact that they were just “too lazy.”

Laziness and lack of interest when it comes to your bills could be costing you hundreds, if not thousands, of dollars every year.

Make it a must to look at every monthly bill, whether paper or electronic, even you just have a quick scan.

After doing this in the early days of our money group, one of the Smart Cookies realized she was paying a monthly fee for what was essentially credit card insurance. You too might have been sold on this type of insurance when you first received your card.

This type of insurance is designed to protect you from outstanding credit card debt in the event of job loss, disability, critical illness or death. Now, some people may certainly benefit from this type of insurance. Our Cookie, however, certainly did not.

What’s worse, she realized that over the years she had actually paid out just under $2,000 for this service. Had she not scrutinized her bills, she would still be giving this money away every month. 

Phone bills are also notorious for having mistakes. Whether it’s double charging for text messaging, charging for services that should be free, or calls you didn’t make, a once-over will usually result in your finding an extra charge.  And yes, you might look and say it’s only a few dollars here and there, but all those little charges add up.

Almost everyone has online banking these days. It’s a quick and easy way to review your bills. And for the bills that come in to you through mail, it’s important to have a designated spot for these documents.  

Visit the forum at www.smartcookies.com for more on creative ways to cut your bills.

Questions for the Smart Cookies can be emailed to smartcookies@metronews.ca.

– Tune in Monday nights at 10:30 p.m. EST/PST on the W Network and be sure to visit www.smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/comment/article/197745 Tue, 17 Mar 2009 01:10:00 -0400 SmartCookies, for metro canada http://www.metronews.ca/Halifax/comment/article/197745
But which option will best fit into your daily routine and spending plan? Most parents will agree that it’s tough to find quality care and make the most of your dollars.

Now if you can’t find a full-time family member, daycare is often one of the most popular options. However, with daycare spaces being limited and waiting times averaging a year or more, it’s a good idea to get on a list early. But signing up at too many daycares before knowing exactly what you want can be costly.  Usually you have to pay a deposit, anywhere from $20 to $100, and you might not get this money back. 

Daycare is generally a more affordable option if you have one or two children. For kids two years and older (depending on where you’re located) it generally costs between $700 to $1,000 a month, for full-time, licensed daycare, five days a week.

Finding daycare for infants from six months to a year can be more difficult and because of the increased need for staff, it’s usually more expensive too. To keep costs down, you can look for a daycare that allows you to pack a lunch for your child — provided you have the time to make it. You also need to consider the time it takes to drive to your daycare. If it’s way off your route to work, you need to factor in gas costs and the hours of operation.

The total cost of a live-in nanny is about $2,000 a month (depending on location). While their salary is usually around $1,000 a month, you’ll also need to pay for their employment benefits and pension.  Plus you’ll need to have a spare room in your house.  The plus side is you can deduct a portion of their room and board from their salary based on government guidelines.  And if you hire through an agency you’ll also have to pay the agency a fee, which can vary from a one-time placement fee to a percentage of their salary.

If you have a close friend or neighbour with kids you can nanny share and agree to split the costs of a nanny as some nannies will agree to look after up to four kids in one house. So if you can find a friend with one other child, you would cut the cost of a nanny in half.

For more on child care costs, hop onto smartcookies.com and visit the forum for new or expecting moms. Questions for the Smart Cookies can be emailed to smartcookies@metronews.ca.

– Tune in Monday nights at 10:30 p.m. EST/PST on the W Network and be sure to visit
www.smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/comment/article/193968 Tue, 10 Mar 2009 03:21:51 -0400 SmartCookies, for metro canada http://www.metronews.ca/Halifax/comment/article/193968
Sandra decided a shredder was a necessity after her mail went missing, her credit card was stolen and a note popped up in her apartment building elevator warning residents of identity theft. Thankfully, she didn’t have to deal with identity theft, but the thought of having someone steal her personal information and using it to commit fraud, potentially destroying her credit score and costing her time and money to correct the fraud and rebuild her financial picture, was enough for her (and the rest of us) to implement these Smart Cookie procedures.

It’s no secret that we like to price compare and purchase online, so if you’re purchasing an item online, make sure that the site is secure. The address should have the prefix “https” and show a padlock. 

It’s advised that online passwords (or any password that protects financial information) be switched up every few months. But we think as long as you are selecting a tight password (translation, don’t use your birthday or your partner’s pet name), then you should be OK.

You should, however, use different passwords for your credit card and banking info. That way, for example, your banking info will be protected if for some reason someone had your credit card pin.

If you happen to be shopping in-store, shield the debit machine while entering your code.  Yes, be that person! It’s better to protective than footloose and fancy free when it comes to your cards and your pin numbers.  

Also, clean out your wallet so that only the personal information and credit cards you actually need and use regularly are kept with you. Otherwise, keep the important cards with the important numbers at home in a safe place. 

At least once a year, it is also good idea to get a copy of your credit report. If you mail in your application you can receive your score for free. That way you can see if there have been any inaccuracies within the past year that you may have missed. Check out smartcookies.com for the application and more on obtaining your credit score. 

And if you have bills mailed to you, keep track of when your bills and bank statements arrive (they should arrive around the same time every month). If they are late, check with the companies immediately to find out the reason for the delay. And never throw your documents into the recycle bin. Rip or shred the documents that contain personal information. If you don’t have a shredder then perhaps it’s time to add this to the ‘oh so boring but necessary’ shopping list.   

For more money saving tips, tune in to the second season of the Smart Cookies on the W Network —Monday nights at 10:30 p.m. PST/EST. 

If you have comments or questions, email us at smartcookies@metronews.ca.

– Tune in Monday nights at 10:30 p.m. EST/PST on the W Network and be sure to visit
www.smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/comment/article/190284 Tue, 03 Mar 2009 01:10:00 -0400 SmartCookies, for metro canada http://www.metronews.ca/Halifax/comment/article/190284
Getting Started
To get back to the financial basics, check out www.moolanomy.com. Like many other finance blogs, Moolanomy offers sound advice on topics such as investing, saving, goal setting and real estate. But what we think makes this site unique is an element called blogroll, a directory of the top personal finance and money blogs. Another feature to check out is the freebie section that allows you free access to online money magazines and books.  

Saving Your Time and Your Dough
These days, time is money. For creative ways to save on both, take a peek at www.lifehacker.com.  This site offers clever solutions for a variety of everyday trials and tribulations, as well as more efficient ways to get things done, so you can work less and enjoy life more.

Money News While You Move
If podcasts are more your style, check out www.fundadvice.com/sound-investing. This weekly radio show was just voted “Best Money Podcast” by Money Magazine. 

Sound Investing is perfect for the Smart Cookie on the go — you can simply download the latest in money matters straight to your iPod.

Fashionista Turned Recessionista
And last but not least, check out Vancouver blogger May Globus. In her blog confessions-of-a-fashion-fanatic.blogspot.com, May offers advice on how to maintain a sense of style that fits within your newly adjusted spending plan. She highlights great finds from popular fashion
houses.

For more tips, tune into the Smart Cookies on the W Network — Monday nights at 10:30 p.m. PST/EST.  Email us at smartcookies@metronews.ca.  

– Tune in Monday nights at 10:30 p.m. EST/PST on the W Network and be sure to visit
www.smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/comment/article/186719 Tue, 24 Feb 2009 01:10:00 -0400 SmartCookies, for metro canada http://www.metronews.ca/Halifax/comment/article/186719
If, while watching this movie, you felt like you had  missed your casting call, it might be time to look at your own spending. 

Now, as self-reformed shopaholics, we know that there are some things that you simply can’t live without.  But we think that it is all about finding a way to get the must-haves for less.

• Before hitting the malls, begin at home. Clean out your closet and give away (or donate) anything that does not make you feel your absolute best. Better yet, get some honest girlfriends to weigh in on the decision. Next, make a list of the absolute must-haves and when you hit the mall, stick to the list.  This will avoid any of those impulse purchases, which shopaholics are known for.

• Make friends with the salespeople — they will tell you when the steals and deals are happening, and sometimes even offer you the discount before the actual sale. Also, check to see if the same stores have a VIP emailing list.  If it’s an item you must-have, you might as well get it on sale.

• Put your money into long lasting pieces like coats, shoes and handbags.  Items like basic T’s and skinny jeans can be purchased on the cheap. Ask yourself how much use you will really get from an item, and invest in the things that will last the longest.

• Instead of shopping at the mall for your beauty products, check out the drugstore. Some of the most popular products can be found at your local drugstore for a lot less — from Maybelline’s Great Lash to Oil of Olay’s Regenerist, you can literally save hundreds of dollars a year, just by making this simple change. 

• Don’t buy anything that you don’t completely love.  Many of us fall into the trap of buying something with the intention of returning it in a few days if we change our mind. Let’s be honest, how often does that item ever really get returned?  Instead, walk away and think about it. If you are still daydreaming about that dress in a week, you can reassess.

• Lastly, find a friend or family member who wants to be your “in case of (a spending) emergency” buddy. During those moments of weakness when you are tempted to spend on something you know you shouldn’t, call your friend and they will remind you of what you’d rather have that money for.

For more money saving tips, tune into season two of the Smart Cookies on the W Network, Monday nights at 10:30 p.m. PST/EST. 

If you have comments or questions, email us at smartcookies@metronews.ca.  

– Tune in Monday nights at 10:30 p.m. EST/PST on the W Network and be sure to visit
smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/comment/article/183123 Tue, 17 Feb 2009 02:05:37 -0400 SmartCookies, for metro canada http://www.metronews.ca/Halifax/comment/article/183123
First Date

Must love dogs
Take the edge off a first date by walking a dog together. Don’t have a four-legged friend? Borrow one from a friend, or even better, visit your local animal shelter and volunteer to walk a hard-up pup together.

Reality romance  
Plan an evening in and watch the current “it” reality show. To really get into the Valentine’s mood we suggest The Bachelor.  

Dating

Cheese please
Get onto your favourite specialty store’s online newsletter list to receive notice of free events and discounts. Free wine plus free cheese equals great date!

Free tours
Check out a free factory tour. Free tours are offered at a variety of fascinating places. We recommend checking out a brewery and then splitting a pitcher of beer after.

Long-Term/Married

House hunter
Plan a driving tour of your favourite neighbourhood, checking out show homes and open houses. Not only with you be able to pick up some great decorating tips but it will also get you on the same page in terms of saving for the future for that dream home. 

Heart art
Get cultured and check out art galleries and museums. Check to see if they have a “by donation” night so you can save money on admission.

Bottom Line
Now more than ever, we’re realizing that what’s really important is not what we spend our money on but how we spend our time.

So put your wallet away and cuddle up close this Valentine’s Day!

– Tune in Monday nights at 10:30 p.m. EST/PST on the W Network and be sure to visit
www.smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/comment/article/179604 Tue, 10 Feb 2009 03:16:30 -0400 SmartCookies, for metro canada http://www.metronews.ca/Halifax/comment/article/179604
But before you run out and spend, spend, spend, read on to learn more about what this year’s budget means to your bottom line.  

With $40 billion in economic stimulus over the next two years, Canadians will now have more money in their pockets.

Tax breaks are being introduced across the board: The largest ones for Canadians who have the least, including low-income families and seniors. And for many Canadian families who have or will experience layoffs, the government has added an extra five weeks to the number of weeks an individual can receive in employment insurance and $1.5 billion is also being injected into job retraining programs.

The government estimates that 190,000 jobs will be created or saved, and the economy will grow by one per cent over the next two years, because of these and other initiatives.

We’ve also seen incentives for higher income families, which along with the aforementioned income tax breaks, include credits such as the home renovation tax credit. This year, a $1,350 credit is being offered to those who spend between $1,000 and $10,000 on home improvements.

Although we have seen dips in the real estate market, Smart Cookies still feel that real estate is one of the best investments you can make (provided you have the money for the down payment, can cover the monthly expenses and plan to stay in your home for at least three to five years).

This is why we are impressed to hear about incentives for first time homebuyers.  The proposed budget includes a new first time homebuyers tax credit of $750 and an increase of $5,000 on what you can borrow from your RRSP for your down payment (taking to total up to $25,000).

What does all this mean to you?  At the end of the day, a small tax credit is not going to make that much of a difference to your bottom line.

While it is great that Canadians will have more money in their pockets, we still have to be cautious as to where we are spending our money. Although it might help the economy if you go out and shop, renovate or purchase property, it’s not going to advance you personally unless you can truly afford it.  

Check out Smart Cookies on W Network, Mondays at 10:30 p.m.  and visit www.smartcookies.com for more information on creating a spending plan, cutting debt and keeping your credit score high.  
If you have questions or suggestions for the Smart Cookies, we’d love to hear them. E-mail us at smartcookies@metronews.ca.

– Tune in Monday nights at 10:30 p.m. EST/PST on the W Network and be sure to visit
www.smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/comment/article/176082 Tue, 03 Feb 2009 01:55:42 -0400 SmartCookies, for metro canada http://www.metronews.ca/Halifax/comment/article/176082
What is bankruptcy?
According to Canadian law, bankruptcy is the act of legally declaring that you are unable to pay your creditors. When someone declares bankruptcy, a trustee appointed by the court oversees the bankruptcy process.  This trustee acts as a negotiator on behalf of the person declaring bankruptcy and the creditor to try and ensure that both interests are looked after.

How does filing bankruptcy affect my credit score?
Depending on your circumstance and debt, a declaration of bankruptcy can remain on your credit history anywhere from six to 10 years.  This means that you will most likely not be able to, on your own, obtain credit in any form; credit cards or lines of credit, car loans, mortgages, cell phones — you name it. A bank account is the extent of what you will most likely qualify for.

What are my options?
If you’ve exhausted all other options, it’s a good idea to speak with a credit counsellor. Credit Counselling Canada (creditcounsellingcanada.ca) is a non-profit agency that offers free and confidential counselling. With a counsellor you will be able to review your current financial situation, explore options and find the best solution to your situation.

How can I work my way back from bankruptcy?
The first step is to change your spending habits. It’s time for a complete overhaul to your financial life. You need to start living within your means, paying off that debt and putting money away for an emergency savings. And keep your eyes on the prize: Create a plan and make a vision board to map out where you need to go and how you are going to get there.

How can I avoid bankruptcy altogether?
To avoid having to go down the bankruptcy road you want to avoid the vicious cycle of debt. Pay all your bills in full or at least make more then the minimum payment, stay on top of your loans if you have any, start living within your means and begin to follow a spending plan. If you start to fall behind on bill payments, call your creditors and make a plan. 

Visit smartcookies.com for more on creating a spending plan, cutting debt and keeping your credit score high. If you have questions or suggestions for the Smart Cookies, e-mail us at smartcookies@metronews.ca.

– Tune in Monday nights at 10:30 p.m. EST/PST on the W Network and be sure to visit
www.smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/comment/article/172692 Tue, 27 Jan 2009 01:39:13 -0400 SmartCookies, for metro canada http://www.metronews.ca/Halifax/comment/article/172692
Andrea’s Pick:

Suze Orman’s 2009 Action Plan, by Suze Orman
Suze Orman is known for her no-nonsense smackdown style, and this book is no exception. 2009 Action Plan, is a simple, step-by-step guide on how to get back on track and into financial shape if you’ve fallen off the wagon due to the present economic disaster. Plus, it’s half the price of a regular financial book in book stores.
 
Sandra’s Pick:

Make Money Not Excuses, by Jean Chatzky
Prior to becoming Smart Cookies, we had excuse after excuse as to why we just couldn’t save, invest, or make more dough. After reading this book we realized that a: we weren’t alone (the author even shares her own money mistakes!), and that b: confronting our money mishaps was the first step in reaching financial freedom. Plus, you’ll love the simple solutions to your everyday money concerns. 

Angela’s Pick:

Smart Women Finish Rich, by David Bach
In the early days of our money group this was our guide (we even took part of the title to create our name!) When reading this book, I started to think about my money not as a number in the bank or a source of stress but as a means to living my richest life (in all senses of the word.) It’s a step-by-step guide to becoming a financially savvy and self-sufficient woman and every Smart Cookie should read Smart Women Finish Rich!

Katie’s Pick:

Freakonomics, by Stephen Dubner and Steven Levitt
I am a sucker for a good storyteller.  And a book that can analyze different socio-economic phenomena in a humorous and engaging way will definitely earn my respect. Freakonomics examines what people will do to get what they want.  And while it’s not your typical financial how-to book, it does offer some great lessons on questioning the different financial incentives we encounter.

Robyn’s Pick:

The Wealthy Barber, by David Chilton
Although it’s been 20 years since this book was first published, the core concepts continue to ring true. Chilton was certainly not the first to introduce the idea, however he certainly made it clear that paying yourself first is one of the fundamentals in living your richest life. As a book that has sold nearly three million copies, and is the best-selling Canadian book of all time, Chilton’s concepts are definitely well respected within the financial field.

– Tune in Monday nights at 10:30 p.m. EST/PST on the W Network and be sure to visit
www.smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/comment/article/169451 Tue, 20 Jan 2009 01:10:00 -0400 SmartCookies, for metro canada http://www.metronews.ca/Halifax/comment/article/169451
Scrutinize Spending
Have a gym membership you never use? Overspending on eating out?  Overboard on giving gifts? The numbers don’t lie.  If you don’t know what is coming in and what is going out every month, then it’s impossible to see where you can make changes.  Sometimes the simplest changes can have the greatest impact. Track your spending for one month (minimum) and at the end of the month take a hard look at your spending. 

Become your Own Advocate
Make 2009 your year to advocate for lower interest rates on all of your loans. If you are carrying a balance on your credit cards, work to transfer the debt to one low interest line of credit or credit card so you are only making payments on this account.

Barter Smarter
If you have a skill, service or talent, try bartering.  You can barter everything from dog sitting to personal training. We barter cooking classes, marketing and PR services, and childcare.

Pay the Taxman Less
If you have not done so already, now is the time to open your Tax Free Savings Account. This is your year to maximize the new Tax Free Savings Accounts as well as your RRSPs.  If you have lost money in the stock market, which most of us have, you can also write off that loss against your taxes.

Save 20 per cent on Your Entertainment Costs
Most of us spend an average of $500 a month on meals out and entertainment with family and friends.  Lowering that cost by just $100 a month would save you $1,200 a year. Simple ways to do that include packing your own lunch, switching from a latté to a regular coffee, and using two-for-ones coupons for movies and day trips.

Start a Money Group
For us, the key to financial success began with our Money Group. Whether it is with your better half, your friends or your family, setting a regular time to make a spending plan, review your objectives and brainstorm ways to make more money will not only help you reach your financial goals faster but ensure you stay on track — and have fun doing so!

Visit smartcookies.com for more saving tips and e-mail questions or comments to smartcookies@metronews.ca.  

– Tune in Monday nights at 10:30 p.m. EST/PST on the W Network and be sure to visit
www.smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/live/article/165905 Tue, 13 Jan 2009 01:00:00 -0400 SmartCookies, for metro canada http://www.metronews.ca/Halifax/live/article/165905
Turn Your Passion into a Paycheque:
With a little effort and creativity, it’s possible to turn almost any pastime into a paycheque. For example, one of our Smart Cookies was interested in learning about and tasting new wines. She had a friend who started a business that offered wine tastings at company events and she offered to help out. This was a great opportunity for her to make extra cash, sample some wine and meet new people.

Why Not Make Some Money AND Reap the Benefits?
Consider taking on a part-time job at your favourite store — many retail stores hire extra employees to help out during their busy season.  One of us was furnishing a new condo, got a job at her favourite furniture store (which offered employees 40 per cent discount) and used the money she made working at the store to buy her discounted furnishings.

Clean Out Your Clutter
Anything you haven’t used in over a year, you no longer need! But rather than throwing these items away, why not find them a new home? One of the Smart Cookies makes about $300 at the end of each season and puts that toward new clothes. Another sold her wedding dress for $800 on craigslist.org. You can do the same with sporting equipment, toys, CDs, books, almost anything.

What about Passive Income?
There are ways to increase your monthly income, without lifting a finger. For example, if you pay monthly for a space in a garage, but you know your car will be gone during work hours or you’ll never use it, you can rent out your space during the weekdays to someone who works near your parking spot. Advertise the space on craigslist.org or in your local paper. One of our Cookies rents out her space and earns an additional $50 per month.

Consider contract work
If it’s not a conflict with your full-time job, look for freelance or contract opportunities. By utilizing her contacts, one of us was able to get additional contract work providing PR services for clients outside her job, earning an extra $2,000 per month!

– Tune in Wednesday night at 9 p.m. EST/PST on the W Network and be sure to visit www.smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/comment/article/162760 Tue, 06 Jan 2009 01:10:00 -0400 SmartCookies, for metro canada http://www.metronews.ca/Halifax/comment/article/162760
And as your thoughts turn to how you are going to complete the holiday shopping in time, it’s important to take a time out to consider helping those less fortunate. We’ve compiled a list of ways that you and your family can give back this holiday season without taking up too much time or money. 

Time:
Donating your time to a cause is an incredibly generous way to give. Choose an organization that is important to you and would be in need of volunteers. Maybe you have a charity that are involved with or you have heard of a local charity that you think would be a good fit. 

Skills:
Just like we suggest you use your skills and experience to barter for products or services, you can also use your skills and services to give back. Some of us use our marketing/PR skills to give back to local organizations like Feed the Need and Quest. Consider a skill that you have that would be helpful to a charitable organization. Anything from working on an organization’s website, to writing newsletters, recruiting volunteers or organizing fundraising activities would be appreciated. 

Items:
At this time of year many charities prefer unwrapped gifts and food donations. However there are a number of organizations that will take everything from gently used clothing items to household items, blankets, etc.  Contact your local shelters to find out what they need the most during the holidays. 

Money:
When donating money to a charity, make sure they are a trustworthy and well managed organization so you are able to give confidently. You want to ensure your hard earned and generous donation is going towards the right thing. It’s a great idea to contact the organization of interest and ask about how donated money is allocated and what the short and long terms goals are of the organization. It’s also a great idea to confirm how much money you need to donate in order to receive a tax receipt.   

If our wallets are feeling the pinch then you can be certain all of the organizations that assist others are also feeling it. Every little bit counts for families in need this season. 

For a list of local charities in your area check out www.charity.com

Happy giving and happy holidays!

Contact us at smartcookies@metronews.ca. For more tips for saving and giving back, check out Smart Cookies Guide to Making More Dough, available in bookstores.  

– Tune in Wednesday night at 9 p.m. EST/PST on the W Network and be sure to visit
www.smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/live/article/158825 Tue, 23 Dec 2008 01:10:00 -0400 smart Cookies, for metro canada http://www.metronews.ca/Halifax/live/article/158825
So for all of you out there contemplating martial bliss, we know you have a lot of questions and are probably looking for some ways to keep your costs down. And trust us when we say skimping on the ring is not your best option.

Here are a few ways to help you stretch your dollar before you pop the question:

A Diamond is a Diamond, whether it’s from Tiffany or Costco

The first step in choosing a diamond is having a clear understanding of the quality factors, commonly referred to as the “4C’s”: Colour, clarity, cut and carat.

Once you determine the combination that is right for you, we suggest you skip the brand-name. The only difference in a brand-name diamond is the label and the price tag — which can be up to 50 per cent more! And let’s be honest, most of the women we know would rather have a bigger rock over a ritzy designer.

Ask for a Discount for Paying Cash

Depending on the profit margin, many jewellers will be willing to sell you your diamond at a lower price to avoid having to deal with fees from credit card companies.

Buying Rings as a Set Can Save Money

Often if you purchase your engagement ring and wedding ring as a set, you can save.

White Gold Looks like Platinum but Is Less Expensive

If you are looking for silver-tone jewelry but don’t want to pay platinum prices, consider a ring made of white gold. Not only is white gold less expensive, but it is actually harder to scratch and damage. 

Something to be Said for Sentiment

If either you or your partner has a family heirloom, antique jewelry from a loved one can be some of the most beautiful and sentimental. But if it isn’t exactly what you had in mind, consider personalizing it by upgrading the diamond or band.  You will still likely save money in the long run.

How Much Should You Really Spend?

Spend what you feel comfortable with. Resist the pressure from advertisers who imply that if you are not spending between one to three month’s salary, you don’t love your honey. Spend less, spend more, spend what YOU want.  Just bear in mind this ring will be with you for a lifetime.

If you are looking for more money-saving tips, contact us at smartcookies@metronews.ca or visit www.smartcookies.com.

And check out our book, now available at bookstores everywhere: Smart Cookies Guide to Making More Dough.

– Tune in Wednesday night at 9 p.m. EST/PST on the W Network and be sure to visit www.smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/live/article/155667 Tue, 16 Dec 2008 01:00:00 -0400 smart Cookies, for metro canada http://www.metronews.ca/Halifax/live/article/155667
Sandra’s Pick
Give the gift of experience and the opportunity to save big by giving the 2009 Entertainment book. For less than $50, the book is a collection of vouchers redeemable at both local & national businesses. Savings are available for a variety of sectors, including movies, restaurants, sporting events, travel, gasoline, and more!

For an added touch of thoughtfulness, flip through the book before wrapping and tag a few places you know the gift recipient would love to go.  Check out entertainment.com to learn more.

Angela’s Pick
For the fashionable and simply fabulous friend on your list, check out Cheeky Umbrella (cheekyumbrella.com).  Not only is each umbrella stylish and sturdy but each comes with a sassy statement scrolled along the underside (“When does it start raining men?” and “It’s raining, it’s pouring, other umbrellas are boring”).  This gift is the perfect accessory to the rainy day wardrobe and sure to brighten even the darkest of days.  Check it out at www.cheekyumbrella.com.

Katie’s Pick
What better way to give a gift of all the memories you have shared than a photo album. Now you can digitally create your own photo book complete with a hard cover and sleeve. Apple and www.Snapfish.com offer fabulous products that allow you to drag and drop your photos into a work of art. An album can be completed within minutes and shipping can take as little as five business days. Photo books generally start around $20 depending on the format and number of pages you include.  

Andrea’s Pick
Nothing is more thoughtful (and as easy on your wallet) than something homemade. So this holiday season, why not grab some girlfriends and spend an evening drinking wine and baking up your own specialty dessert?  Take 4-5 pieces of your homemade deliciousness, wrap it with some clear or coloured cellophane paper ($1 at your local dollar store), tie it off with some ribbon and voila — you have a gift for only $3 per bag. For Andrea’s favourite fudge recipe, try googling “food network” and “old time chocolate fudge”. 

Robyn’s Pick
Of course you could check out www.smartcookies.com for ideas (we wouldn’t be Smart Cookies if we didn’t mention it). For just $5 a month, or $50 a year, you can get a premium subscription for your friend, your daughter, your wife or another other. Members will be able to download resources, create a spending plan, receive e-mail reminders regarding their financial and life goals, along with a free credit report, notices of special Smart Cookie offers and much much more.  

If you have questions or suggestions for the Smart Cookies e-mail us at smartcookies@metronews.ca.

– Tune in Wednesday night at 9 p.m. EST/PST on the W Network and be sure to visitwww.smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/live/article/152358 Tue, 09 Dec 2008 01:11:28 -0400 smart Cookies, for metro canada http://www.metronews.ca/Halifax/live/article/152358
So sit up and take note — we’ve got some savvy suggestions on how to save money on the things you want and, in some cases, even get them for free!

Barter
We all have a special skill or services that we can offer others. Why not barter for other services or products? A family we worked with on our W Network show, Smart Cookies, actually bartered their daughter’s entire wedding. And one of our Smart Cookies has bartered her marketing services for free personal training sessions. Just be sure that when you do barter, it is a fair trade. If you make $100 per hour and the person you are bartering with does work that is valued at $25 per hour, be sure that you do not do a one-hour swap — if you do you will be devaluing your work and yourself!

Trade
Check to see if you can get what you are looking for through trading or swapping. There are a number of websites where you can exchange things you already own, and no longer want, for things you do want. The basic premise in which these sites are based is that you provide things you want to get rid of to other people, in exchange for points. With your points you purchase items that you might want from other individuals.  Items up for swapping include books, DVDs, games and baby items. One of our favourites for books is www.bookmooch.com. Also, check out Craigslist.com, which offers swapping services and posts information about swap meets in your area.   

Since coming together as a money group, we have saved thousands of dollars on clothes and other items.  Not only do we share our stuff but we swap as well. Once a season, we get together with our friends and swap everything from clothes, magazines, to beauty products that we no longer need. Not only do you save money, but it is also a great way to get together with girlfriends without spending a ton of cash.  

On the House
Who said you can’t get anything for free? There are heaps of things that people no longer want but are willing to give away in the interest of recycling and reusing.

Check out Craigslist.com and freecycle.ca for things you might be looking for. We found a brand new medium sized pet carrier (perfect for our pampered pooch Lucy), a beautiful wine rack and even a new couch!

Also, if you are a new parent, tons of companies compete for your business by offering free samples, promotional packages and goodies. Check out www.freeparentstuff.ca.

For more ways to save check out smartcookies.com or pick up a copy of our book Smart Cookies Guide to Making More Dough.

If you have questions or suggestions for the Smart Cookies e-mail us at smartcookies@metronews.ca.

– Tune in Wednesday night at 9 p.m. EST/PST on the W Network and be sure to visit www.smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/live/article/149089 Tue, 02 Dec 2008 01:45:37 -0400 smartCookies, for metro canada http://www.metronews.ca/Halifax/live/article/149089
What’s more, they have the knowledge required to present a proposal for financing to a lender (bank) in the best way possible to successfully obtain your mortgage and deal on your behalf with all potential lenders. Mortgage brokers represent you and not the lender and they come at a price tag that even surprised us: Free, in most cases! Mortgage brokers basically are paid their commission from the institution you end up using as your lender.

When you begin the process of searching for property it is essential to know what you can afford. However, just because you have been approved for a specific amount does not mean you need to take that full amount. Be sure that the mortgage amount and the monthly payments  fit into your long term financial plan.

Here are a few Smart Cookie tips:

Referrals:

Having a referral from a friend, acquaintance or family member is great when trying to find a mortgage broker. Buying a property doesn’t always happen overnight, so you could be in this relationship for some time and it’s best to find a good fit.

Commissions:

Ask your mortgage broker on what basis they make their recommendations. Mortgage brokers are paid commissions to sell loans, so make sure you ask plenty of questions about the commissions they are paid.

Research:

Do your own research via the Internet and phone. Ask what deals mortgage brokers have to offer and if there are any conditions attached. Remember, this home loan is likely to be part of your life for years to come so don’t be afraid to ask tough questions.

Stick With Your Gut:

Make sure you feel confident about the person who is organizing your mortgage. Go with your gut on this one — if something doesn’t feel right, chances are it isn’t.

E-mail questions or comments at smartcookies@metronews.ca.

– Tune in Wednesday night at 9 p.m. EST/PST on the W Network and be sure to visit
www.smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/live/article/145793 Tue, 25 Nov 2008 00:17:33 -0400 smartCookies, for metro canada http://www.metronews.ca/Halifax/live/article/145793
For Andrea, her financial rock bottom came in her late 20s, several years into her career in marketing.  After getting a promotion, she had accumulated close to $20,000 in consumer debt, the majority of which was spent on designer coffees, stylish jackets and dinners out with friends. After racking up two credit cards, as well as her line of credit, she soon found herself dodging creditor’s calls at work.  But Andrea’s all-time low came when she was asked to go on a work trip to Denver and to expense the flight and hotel on her credit card.  Problem was — she couldn’t. 

Katie, a thriving publicist, knew she was in trouble when she found herself anticipating her fiancés time on the golf course.  Why? Because his golf games translated into four uninterrupted hours of shopaholic spending. On many occasions, Katie would rack up her credit card with hundreds of dollars in clothes and then scurry around hiding the tags to prevent her future husband from noticing her new purchases.

It was only when her fiancé stumbled across a $300 price tag for Katie’s 13th pair of designer jeans, that she realized she had a problem. 

Whether you are lying about money or just lying about the type of life you can afford to live, we have been there. We came, we spent, we delved deep into debt and, for us, salvation finally came in the form of a money group.

After finding each other, we made a pact to get out of debt and start living our richest lives; what we were never able to achieve financially as individuals, we were able to do with the support of one another.  It wasn’t easy.  But if we were able to do it, so can you! 

Forming a money group is the simplest way to commit to changing your spending patterns. Just like the anticipation of a weigh-in, there is nothing like knowing you will have to confess to your impulse purchases at this week’s money group, to prevent you from overspending. 

Whether you know people who want to start a money group, or are looking to start one, smartcookies.com offers tools and resources to help you on your way.  We may even know of groups in your area that you can join. 

If you have a story about your money group or are looking for more money-saving tips, feel free to contact us at smartcookies@metronews.ca.

– Tune in Wednesday night at 9 p.m. EST/PST on the W Network and be sure to visit www.smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/live/article/142516 Tue, 18 Nov 2008 02:37:40 -0400 smartCookies, for metro canada http://www.metronews.ca/Halifax/live/article/142516
Get a separate bill

Quietly pull the waiter aside on your own to explain that you would like a separate bill.

If anyone at the table gives you a look when the bill comes, explain that you thought it would be easier to have your own since you were worried you might have to slip out early and didn’t want anyone to get stuck with your tab. Aren’t you considerate?

Buddy up

If you can’t get a separate bill, then at least buddy up. Have you ever noticed that people order much more than what everyone can eat and there is always food left on the table at the end of the night?

Try curbing the ordering process by teaming up your order with someone else. A good excuse to order fewer dishes could be to bring up leaving room for dessert. It is safe to bet that not everyone will get dessert anyway.

Skip the entrée

Eat ahead of time and show up fashionably late for cocktails and dessert.

Order your own drink

If an expensive bottle of wine is ordered, be sure that you order your own distinct cocktail (preferably the one on special!) that way everyone at the table can clearly see that you don’t owe for the pricey vino.

Don’t pick up the bill

Do not be a hero. If the dreaded bill-division discussion is just too much for you to handle, you may be tempted to cover the entire bill. Let’s be clear — there’s no need for you to cover the entire bill!  Smart Cookies are all for generosity, but let’s be real. These are your friends and you don’t need to impress them by throwing down your nearly maxed-out Visa. Who are you fooling!? Chances are your friends want you to enjoy their celebration, not break out in a sweat when the bill comes to the table.

We bet if you show some interest in keeping the bill low there will be more than one sigh of relief at the table. Happy celebrating!


]]> http://www.metronews.ca/Halifax/comment/article/139013 Tue, 11 Nov 2008 05:46:17 -0400 SmartCookies http://www.metronews.ca/Halifax/comment/article/139013
We took our message to this next generation with the goal of instilling some financial wisdom that we certainly didn’t get (or listen to ) at their age. 

And a recent study indicates that we are not alone in our financial ignorance.  Charles Schwab reports that most “Generation Xers” — aged 27 to 40 — are way behind when it comes to retirement savings. Almost half of the 5,000 people surveyed reported being so overwhelmed by debt and living paycheck to paycheck, that they could not even begin to think about savings and retirement planning.

As we began to think about what advice we could offer, we also thought about how generations before ours dealt with their money and what advice we could take from them now. One of our own Smart Cookies recalls chatting with her grandfather about how individuals of his age group spent and saved, and his answer was simple; “we had no credit, if we wanted to buy something, we had to have the cash to do so.” Sound simple?  It is!

Below are a few lessons we can learn from the generations before:

Cash, cash and more cash.

It may sound old school, but Smart Cookies live by the cash system. We allow ourselves an allotted amount of “fun money” each week, and when the money disappears, we are not allowed to resort to credit. It’s helped us get out of debt, start saving and also has kept our priorities in check. 

If the shoe fits, you don’t have to buy it.

For whatever reason, our generation never learned this lesson.  Instead we feel that we are entitled to everything our parents worked their whole lives for — the beautiful home, the luxury car, the fabulous wardrobe — by the time we are 30. You will have all these things, just not right now. If you wait until you can truly afford them, these possessions will mean much more.    

Whose life are you living anyway?

It’s easy to fall into the trap of trying to keep up with your friends when it comes to portraying an image, but if it means using your credit, it’s time to reconsider your priorities.

In recent years, our generation has felt even more pressure to pretend as if we have it all. But really, who are you fooling? Not your friends or your family, who know that you are living way beyond your means. And we are willing to bet that your boyfriend doesn’t care whether you have the latest Prada bag!

Visit www.smartcookies.com for more money saving tips and e-mail questions or comments to smart cookies@metronews.ca. 

And pick up our book Smart Cookies Guide to Making More Dough on sale in bookstores.  

– Tune in Wednesday night at 9 p.m. EST/PST on the W Network and be sure to visit www.smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/live/article/135387 Tue, 04 Nov 2008 01:50:39 -0400 smartCookies http://www.metronews.ca/Halifax/live/article/135387
Makin’ a List and Checking It Twice
While it’s a nice gesture to buy gifts for your entire family, friends and colleagues, if you take note of all the people you plan to buy for and how much that will cost, you will realize that a) it all adds up and b) a nice card or a warm wish goes a long way. This year, the Smart Cookies are drawing names for family members, setting a spending limit and only purchasing for that one person.    

Use Cash
We’ve said it before and we’ll say it again, paying with cash makes you think twice about your purchases and helps cut down on unnecessary spending.  If you can’t afford to pay for a gift with cash, then you can’t afford to buy it.   

Shop Online and Compare Prices
We love to shop online and compare prices as we go. We realize you will have to use your credit card for these purchases so the next best thing to using cash is to make sure you are paying your bill off in full as soon as it arrives.  If you don’t pay your balance off in full, you’ll lose the saving benefits of buying online.

Entertaining
Instead of offering a full bar, try serving a feature drink which will cut back on liquor costs. You can get four times the amount of drinks from a 26 oz bottle of vodka, than you can from a 750 mL bottle of wine. And don’t be afraid to ask your guests to bring their favourite dish to your soiree. Guests can bring dessert, appetizers or a side dish.

The Holidays are a Time to Share
Share clothes, accessories, shoes and handbags. Don’t get wrapped up in thinking you need to buy something new for every holiday get together. Also, rent or borrow the tables, chairs and place settings that you will need to host the holiday get together instead of purchasing new items. 

Remember What Matters Most
When we work with families on our W Network show, Smart Cookies, we always ask parents what they remember most about their childhood. They always recount quality time spent together and not video games or gadgets. While we appreciate that children should be treated with a few special things, don’t go overboard.  Instead, think of things you can do together that don’t cost money just a little bit of your time.

Visit www.smartcookies.com for more saving tips and e-mail questions or comments to smartcookies@metronews.ca.

– Tune in Wednesday night at 9 p.m. EST/PST on the W Network and be sure to visit
smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/live/article/131961 Tue, 28 Oct 2008 01:04:26 -0400 smartCookies http://www.metronews.ca/Halifax/live/article/131961
Let’s begin with the basics — if we compare investments to clothing, bonds would be the fundamental (though kind of boring) necessity that you build your wardrobe on.  For example, a plain white button-down or a pair of straight-leg jeans.

Bonds are issued by companies and municipal, provincial and federal governments.  In exchange for you lending them money, they issue a bond that promises to pay you back your money in the future plus interest. Bonds are much less risky than stocks.

Stocks, on the other hand, would be the more trendy add-ons that may seem a bit more risqué — but also have a lot to offer and are somewhat sexy. 

When you buy a stock, you buy a part of a business. As the value of the business or company fluctuates, the value of the owners “share” also increases or decreases.

Of course, some companies are riskier than others. If you choose to invest your money in a blue chip company (a company that is well established and well respected) as opposed to a newly public company —although you are likely to make less money, these companies tend to be less risky.  

Last, we have mutual funds. Mutual funds represent what your closet should look like: A balance of basics that you can count on, mixed with other pieces you’re betting will enhance the overall worth of your wardrobe (although there is a risk that they may not).

So, if one piece drops out of a fashion, or decreases in value, you still have many others to offset the loss.

Mutual funds offer you an opportunity to contribute money into a pool with other investors to purchase large amounts of stocks, bonds or both. You invest in a fund, run by a professional, who buys shares or stock or bonds. 

Mutual funds offer some unique advantages. As mentioned, these funds are comprised of both stocks and bonds, so through diversifying your investment, you lower your risk. 

Also, as a general rule, you are able to sell shares quickly if you are in need of some cash. Lastly, there is a professional overseeing your investments. 

For more information on investing, check out our new book Smart Cookies Guide to Making More Dough, on sale in book stores this month, and visit smartcookies.com for more on living your richest life.

If you have questions or comments for the Smart Cookies, please feel free to write to us at smartcookies@metronews.ca.  

– Tune in Wednesday night at 9 p.m. EST/PST on the W Network and be sure to visit www.smartcookies.com for more tips.


]]> http://www.metronews.ca/Halifax/live/article/128555 Wed, 22 Oct 2008 03:00:00 -0400 smartCookies http://www.metronews.ca/Halifax/live/article/128555