 If you’re like most people, you spend about eight hours a day, five days a week at your job, whether working in an office or from home. But the question is how much of this time do you spend looking for papers, invoices, receipts, business cards and other items on your desk and around your office? And “spend” is the right word…because time is money and the costs can add up when you aren’t organized. Getting organized at the office can save you time and money, and with these handy hints you’ll have more of both.
- Start with a cleaning day. Plan a day to go through the piles of papers, receipts and other items on your desk and get organized. Be sure to have lots of file folders and labels on hand. The trick is to find a place for every piece of paper you touch, even if it goes in the recycling bin.
 Death and taxes are certainties in life. But it's not always clear when you need help to get your tax return filed right. If you're sitting under a pile of paper and weighing your options before the April 30, 2010 tax deadline, then answering these questions can help you decide if hiring an accountant is right for you.
Are you self-employed?
It's a good idea to hire an accountant if you are self-employed. Running your own business can raise a myriad of taxing questions, and this is when "taxes can get complex," says Dean Paley, CGA and Senior Financial Planning Specialist at Edward Jones.
"There are deductions when you are self-employed that an accountant can alert you to. An accountant will also answer your questions."
Accountants can also advise you how to separate your personal and business expenses, a challenge many self-employed Canadians face when they work out of their homes.
 It seems that everyone is trying to save money these days, so it’s not surprising that coupons are one of the fastest growing categories online. If you feel that clipping coupons is kind of embarrassing or that you can’t save enough cash to make it worth the effort – we’ve got a surprise for you. But with discounts of 50 cents, and even a dollar or two on some items, the savings can add up quickly! Here a few helpful hints on how to easily incorporate coupons into your shopping routine. Remember, using coupons is totally cool…and what’s even cooler is all the money you’ll save!
- Get coupons from a credible source. In Canada, retailers accept the glossy, two-sided coupons with a bar code. Newspapers are also a good source for coupons. When you visit Flyerland.ca you can rest assured that the printer-friendly coupons can be used at your favourite stores. Be careful with coupons found on blogs and other unfamiliar sites—it is a good idea to contact the retailer to make sure they are valid. And with all coupons, be sure to check the terms and expiry dates.
 It’s your child’s birthday and time to celebrate! These days kids’ parties are becoming more and more extravagant…which can sometimes come with a huge price tag. But planning a fun and original event with an awesome activity and all the trimmings doesn’t have to be stressful or expensive. With these tips you can give your little one the party of their dreams…and the best gift of all is the memories you’ll make, and the money you’ll save.
- Try unique, affordable activities. Many party places cater to children’s special interests including indoor play centres, gymnastics, dance, science, sports and more. If your child loves animals, a PJ’s Pets party is a unique idea. Or try a cooking party at Real Canadian Superstores—the best part is, there’s no mess to clean up.
- Clip coupons for party places. Check online for coupon deals to the most popular entertainment venues. Flyerland.ca is the perfect place to start your search. If you plan your party during the week, you could save over higher weekend rates.
 Are you feeling like winter will never end? At this time of year when the winter blahs are catching, the best remedy is a little sun, sand and surf. But if a beach holiday is beyond your budget, there are lots of fun activities you can do at home that will bring the sunshine to you. Try a few of these hot ideas to help you make it through to spring.
Host a Hawaiian theme party. Say an early “Aloha” to spring! Invite friends over, welcoming them with leis and fruity umbrella drinks—try Michael’s for party supplies. Serve pineapple, mango, banana bread, and other luau delights, and be sure to check the Save-On-Foods, Loblaws and Sobey’s flyers for weekly specials. Don’t forget the loud, brightly coloured shirts!
Plan a sunshine movie night. Watch movies set in sunny locales. Try the recent Couples Retreat or old favourites like Shirley Valentine, Cocktail, Summer Rental and more—see the Wal-Mart flyer for movie deals. Then just add shorts, flip flops and snacks.
While it’s
true that real beauty is on the inside, the fact is, most women want to look
their best on the outside too. But to stay gorgeous and glowing from
head to toe you need hair care, skin care, make-up, body treatments and more.
Beauty products can add up to a big expense that can easily blow your budget. With
these tips and tricks, you won’t have to spend a fortune to look like a
million.
- Shop the sales. Be sure to check Flyerland.ca
for weekly flyers from London Drugs, PharmaPlus and Rexall and stock up on
your preferred products when they’re on sale. Or try a different brand
when there’s a bargain—you may discover a new favourite.
- Play the points programs. Be sure
to register for the loyalty programs at your regular stores such as
Shoppers Drug Mart. With everyday purchases you can accumulate points and
save on more expensive products.
- Get your gift with purchase. Buy
your more costly beauty items during bonus time to qualify for a free gift
from Sears and The Bay with Lancôme, Clinique and many other favourites. Gift
with purchase offers let you sample new products. You can keep the ones you
like best and trade with friends.
- Save dollars on scents. Perfume
sample packages are a great way to try fresh fragrances without spending
big bucks. They’re the perfect size for travelling or you can give them as
gifts.
- Take expert advice. Magazines
often have features comparing brands and uncovering the best kept secrets
in beauty buys. Bargain brands can be as good as pricey products so give
them a try—you may be pleasantly surprised.
- Host a home spa day/Avon party. If
you can’t get out to the spa, bring the spa home! Invite a few friends
over and ask them to bring the products they love best so everyone can
share. Or, why not host an Avon party and learn the latest trends and
make-up tips from an expert in the comfort of your own home. Healthy
snacks, beverages and great conversation make the day complete.
- Plan a product swap. We’ve all
bought beauty products that haven’t been the best choice for us. If you
have some barely used items cluttering up your bathroom cupboard, clear
them out and plan a swap party with friends. Just be sure the products
have not expired.
- Try tools of the trade. Compare
prices on the hottest tools you use every day—hair dryers, curling irons,
flatirons, hot rollers and more from Walmart or Zellers. It may be time to
replace the old one, but it’s also good to have a backup so buy a spare
when you find a sale.
- Check out dollar store deals.
Every day you use items for makeup application and removal such cotton
balls, swabs, pads and wipes. Buy these items at dollar stores for big
savings.
- Get organized! Check out stores
like Solutions for baskets and boxes that will help you organize your
beauty supplies to keep products and tools at your fingertips. They make
attractive decorations too.
By
Debbie Frye, General Manager, Flyerland.ca
Figuring out how to invest your hard-earned money can be a challenge. With fund companies, banks, and financial advisors all looking to invest your retirement dollars, the choices can be overwhelming and it's not hard to be sold an investment that's loaded with fees and light on returns. Since keeping more money for yourself is always a good retirement strategy, here are three types of investments you should avoid at all costs.
1. High Fee Mutual Funds
Investing in a high-fee mutual fund will cost you. Mutual fund fees called management expense ratios (MERs), loads, and trailer fees all drastically decrease the return you see each year.
Not only do you lose the money for paying these fees, but over time you also lose out on the compound interest you would have earned. With many Canadian mutual funds charging investors a 2.5% MER and higher, it's shocking to see how paying even 1% less can save you thousands and help you retire sooner. For example, let's look at the costs of a MER:
- $100,000 is invested over 25 years with markets returning 6% per year. With no fees, this would be $429,187.
- With a 2.5% MER you pay $101,182 in fees, keeping just $227,909 at the end.
- Reducing these costs by 1% you end up with $294,139 -- that's $66,230 more.
Checking a fund's prospectus for costs and asking your advisor for low cost mutual funds can save you tens of thousands of dollars.
2. Principal-Protected Notes (PPNs)
If your financial advisor is trying to sell you a PPN, then you'd be wise to seek new help. PPNs are often sold to risk-averse investors since they guarantee the invested principal while offering returns on underlying investment products, such as mutual funds, hedge funds, and baskets of equities including stocks. Here are just a few perils of PPNs:
PPNs are expensive. Many have an up-front sales commission of 5% plus a MER of around 2%, which includes a hefty trailer fee to the person who sold you the PPN. MERs depend on the issuer but this fee is standard and erodes your investment over time.
PPNs lock you in for years. PPNs typically mature in 3 to 7 years or longer, and a lot can happen to your financial situation during that time. If you need to sell, be prepared to lose the guarantee on your principal and pay stiff penalties for selling early.
Lack of clarity about returns. Even after the Government of Canada's attempt to improve transparency of PPNs, the media's warning cry is still loud and clear. In his book, What’s Good, Bad and Downright Awful in Canadian Investments Today, financial author Rob Carrick says that PPNs still lack clarity since issuers often skip over your market exposure, making it difficult to know how much the underlying investments have to make in order for you to beat the returns of a GIC or bond. "PPN issuers don't answer these questions," says Carrick.
Financial author Gordon Pape is not of fan of PPNs either. In Be wary of PPNs, Pape calls them "an opportunistic marketing gimmick designed to play on your anxieties. Avoid them."
3. Guaranteed Investment Certificates (GICs)
So you think GICs are risk-free? Think again. A guarantee on your investment plus a fixed rate of return comes with a serious downside -- inflation. With the current inflation rate at 1.9% and the big banks offering around 2.0% on a 5 year GIC, it's impossible to retain your buying power over time.
To avoid the results of a GIC Horror Show, Duncan Hood says the "safest place to put your money isn't in any single place, but in the broadest, most diversified portfolio you can construct."
Your Turn: Ever get sold a confusing investment? Do you know how much you're paying in mutual fund fees each year?
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February 2010
