Monthly Archives: June 2014

Changing the way we spend money thru history

Throughout history, money has taken on many different forms. People used things like fish, fur and any other commodities in order to trade. As bargaining / trading became more modernized, the need for expansion was realized.

Even to this day we continue to expand. We now have the technology that allows us to take a picture of a cheque as a way of depositing it into our bank accounts. Instead of fur, and gold, we now use bank cards, credit cards, cash, coins, email money transfers, cheques and the list goes on and on. As more and more ways of representing currency are created, keeping track of everything can definitely get overwhelming. Money is no longer as simple as it used to be.

The average person has their money dispersed widely through various places. When it comes to deciding which card to use, or which bill to break, take into consideration that different payment methods have different pros/cons associated with them. With things like debt and bankruptcy spreading like the common cold, it is becoming more apparent that people aren’t asking the right questions (or any questions at all).  Remember that it is not only banks that offer financial advice. There are many resources available to get you back on track, or at least heading in the right direction. If overspending is a problem, consider asking friends or loved ones how they’ve managed in a similar situation. Cash can be a great tool for managing day-to-day spending. Since over spending isn’t possible, keeping count of cash is simple, and following a budget strictly on cash is just plain easy. On the other hand, keeping a track record of your purchases can prove to be tricky when spending solely with cash.

This is where bank cards come in handy. A bank statement is a great tool that everyone with a bank account has access to. These will allow you to determine your spending habits to help you create a better budget. If you’ve already tried these methods, and developed a bad track record with being punctual with your credit payments, consider taking out a ‘short term loan’ as they can help you get back into the groove of paying your bills on the day that they are due. If you have any questions, or comments, visit Accessible cash.ca or Facebook and write us in the comment box!

Our obsession with coffee

 

Our obsession with coffee

Its official, our great nation is addicted to coffee.  Over half of the adult population the U.S have admitted to consuming it each and every morning, making it one of the most consumed drinks on the planet, right behind water and pop.  Statistics show that 52% of people would rather go without a shower in the morning than give up coffee (gross!!).  This is probably because we’ve been drinking it for so long that our bodies now require it to properly wake up in the morning.  With coffee being this popular, it’s no wonder coffee shops are popping up on every street corner across both Canada and the U.S.  We’ve constructed a graph to show you just how expensive or inexpensive coffee can be based on your preference.

 

This graph represents coffee prices and consumption on a 30 day basis.  This price includes the cost of sugar and coffee whitener. Deduct 12$ from your total cost if you are a dark coffee drinker.

 

Type                   Total Cost                    Price per cup

 

Homemade     ——        $21.06 / Month               Price per cup = $0.32

Keurig (fancy)     —–    $57.21 / month             Price per cup = $1.87

Tim Hortons – —–        $48.00 / month               Price per cup = $1.60

Starbucks –       —–        $105.00 / month            Price per cup = $3.50

Starbucks Specialty —$150.00 / month         Price per cup = $5.00

McDonalds –       —–     $45.00 / month             Price per cup = $1.50

Mcdonald’s Specialty – $90.00 / month         Price per cup = $3.00

As you can see, depending on how much disposable income you have, you can find ways to keep more money in your pocket.  So if you’re limited to a tight budget and love your coffee, start making it at home.  Just changing from Starbucks regular coffee to homemade coffee can be a savings of $84.00 monthly. Over a year, you would have $1008.00 in savings.  That alone could pay for your vacation.  Stay tuned to our blog for more great ways to save your money and keep it in your piggy bank instead of someone else’s.

http://www.huffingtonpost.com/2011/09/29/americas-coffee-obsession_n_987885.html