As any financial expert will tell you, spending less is the surest way to boost your disposable income. With that extra money, you can pay off credit card debt, add to your retirement savings, or earmark funds for a fun vacation. It sounds great. However, many people associate spending less with living with less. It doesn’t have to be that way. Consider the following tips:

• Use coupons. This may seem like an obvious technique, yet few people do it. Did you know you can save up to 15% on groceries and household items by using coupons? Be a coupon hunter!

• Get on the email list of your favourite retailers. Yes, you’ll be inundated with emails. But, you’ll also get the heads-up on sales and other savings opportunities.

• Buy resale items on “buy and sell” websites. You may not know that this doesn’t necessarily mean buying used. Many people sell items on these sites, such as ski equipment, that they purchased but never used. Often the prices are just a fraction of the original price.

• Negotiate with service providers. Often, if you ask your internet, phone or gym provider for a better deal, they’ll give you options. After all, they want to keep you as a customer!

With these tips, you won’t feel the pinch, but you will notice the savings! You’ll be surprised to see how much can really add up over the year.

If you plan to update your home with a significant renovation, be sure you are investing in the right upgrades. There is an assumption that the money you invest in a renovation will be fully returned to you if you sell the property. That is not always the case. Here are 4 tips that can help make your home renovation a success.

#1 - Understand the reasons why you are renovating

Do you want to increase the value of your home or enjoy the renovations for years to come? Or both? 

#2 - Think about your personal needs and wants

How much do you want to spend? How long do you plan to own the home after your renovation project? Will you be doing work yourself? Will you work with a general contractor or hire your own tradespeople? 

How much you spend on improvements should depend, in part, on how long you plan to live in your home. If you are thinking shorter-term, smaller and less-expensive improvements may be your best bet to recover your investment. THINK: fresh coat of paint, updating lighting, improving the curb appeal, decluttering, etc. These items can give your home an updated feel with a limited budget. For the highest return on your investment, ensure the workmanship is of good quality and the materials are consistent with other homes in the area. 

It’s important to keep in mind the present condition of the item you are renovating. For example, if you are replacing the builder quality maple cabinets in your 10 year old home with custom designed cabinets with an antique finish (because that is your personal style), the changes may not increase the value of your home at all. To appeal to a wider number of prospective purchasers, ensure the renovation blends in with the overall style and design of your home. 

#3 - Hire trusted professionals with references

An interior designer, architect and/or contractor should be consulted before you start your renovation project. They can draw up a plan and assist with renovation advice or construction. Don’t forget to build these costs into your project budget! This investment can go a long way to prevent cost over-runs and change-fees later on. 

#4 - Engage a real estate professional to increase your awareness of over- improvement and unique features 

Over-improvement:
Consider your neighbourhood and the expectations of buyers in the area when planning your renovation project. Depending on the particular market and/ or neighbourhood in which you reside, expensive projects that over-improve your home may only be partially recognized by prospective purchasers. For example, in a particular market, renovating the basement of your home at a cost of $65,000 in an area where homes generally do not exceed $200,000, may not provide the best financial return on your investment. 

Unique features 
Unique designs or improvements that are uncommon for a particular market may impact the re-saleability of a home. For example, a custom designed climate controlled wine room can cost many thousands of dollars. If you are a wine collector extraordinaire and cost is not a concern, then creating a wine room can be personally gratifying. However, if you wish to recover even a portion of your investment, a potential purchaser would need to share your passion. 

Before renovating, consider the value the improvement may add to the overall value of your property. This is where the expert advice of a real estate professional can provide an objective perspective. 

Renovations take time, patience and planning, but can be appreciated for many years. Work with an expert! 

Source: Appraisal Institute of Canada

When you decide it’s time to install or replace a deck surface, you may find there are more choices than you had expected. There are many new materials and installation options that have come to the market over just the past few years.

For example, in addition to traditional wood decking, there are contemporary synthetic and composite materials that possess properties that are remarkably similar to natural wood species – in terms of texture, appearance, density and workability. However, these materials offer superior durability in tough weather conditions and a wider range of colours than natural surfaces.

In addition, manufactured decking surfaces provide barefoot comfort without worry of splinters, as well as water-shedding properties that help improve traction after a rainstorm.

Synthetic materials are also very popular when it comes to railings and steps thanks to innovative installation systems that are easy enough for most industrious homeowners to tackle. Many offer pre-cut and/or interlocking pieces. As well, certain aluminium installations are enjoying renewed popularity thanks to new options that are clad in vinyl for extended protection and reduced maintenance.

With that being said, our personal preference is an exotic natural wood. Our feet first came into contact with it while at an outdoor spa and from that moment on, we knew we had to have it.   It's called red balau. Aside from being  extremely comfortable & durable, red balau is also unique in color. It's reddish-brown color will turn into a silverish-gray if you allow weathering. It is a durable hardwood that is often compared to teak though it comes in at a cheaper price. 

As more and more people have to work from home, the planning of home offices has become increasingly significant. There are many ways of creating office space and realizing a space that is a pleasure to use.

Perhaps one of the first points to consider is where to place your office. Your work may require privacy and your home office might get in the way of family living, especially now that kids are at home too.

Make sure you’re not working off your couch all day as it will negatively affect your productivity and may potentially affect your posture and hurt your back.  Choose an area well away from the hub of family life, like a seldom-used guest bedroom, loft or basement space. It may be worth converting a garage or outbuilding to achieve a comfortable home office environment. 

A proper desk and some adequate storage are also essential if working from home is to be a success.  When you are seated, the computer screen should align with your eye-level and the keyboard should sit at a slightly lower level so that your hands are at right angles to your elbows.  Office items often create a “busy” effect so for a sense of calm and order, having your space well organized with shelving, cabinets and(or) drawers is key. 

List every piece of essential equipment that you will be using in the dedicated home office and decide how near or far each item is to be stored in relation to your desk for maximum efficiency.

A comfortable chair that provides good support is essential.  The chair should be adjustable and on wheels, for greater mobility. Consider a standing desk, especially if your work demands that you sit for long periods in front of a computer. Otherwise, make sure you get up and move / stretch every 20 minutes. 

Good lighting is also important. Desk lighting should fall without creating shadows or glare.  A desktop lamp on a flexible arm is much easier to control than a desk lamp with a fixed head. Same thing for natural lighting: make sure your desk is facing the window or sideways to avoid glare on your computer screen.

If space permits, try to add a comfortable area for relaxation with a small coffee table for setting down a glass of water and a book or magazine.  But don’t make it so cozy that all you’ll want to do all day is nap.

Working from home can give you some flexibility but keep in mind that you still have to plan your day with time slots for getting work done.  

• Determine the start and the end of your workday then make a schedule that include proper lunch break and stick to it.  

• Get dressed for work even if you’re not going out. Getting out of your pj, showering and getting into comfortable clothes can help get you into work mode and be ready for any impromptu video conference with your clients or colleagues.  

• Reduce distractions that don’t require your immediate attention, like television and household chores. You can do those during your lunch break or after work hours.

With a little work, you can quickly create a home office space that is comfortable, functional and enjoyable. It sure beats the dining room!

If you’re like many people, you’ve spent more time in your home this year than, perhaps, you ever thought you would! In fact, you might have even gained a greater appreciation for how important it is to have the features, style and atmosphere you want in a home.

That’s why, as you set your personal and career goals for 2021, you might also want to consider setting a few “home” goals.

Ask yourself: What do I want in a home? What features are important to me? How do I want my home to look and feel?

Then, set some goals around making that happen.

For example, if you worked from home this year, one goal might be to set up a more comfortable and productive workspace. Perhaps you’ll want to create a fully-equipped home office.

Another goal might be to finally get that home improvement project that you’ve been putting off done.

Of course, you might find that your current property can’t be improved to fit the vision of your “dream home”. In that case, a good “home” goal might be to pay attention to the market and see what’s available.

The point is to make note of your “home” goals so you can achieve them. As goal setting experts often say, when you write down an objective, you double your chances of reaching it.

Want to save money in 2021? There are many money-saving opportunities — including tax savings — that you can realize if you take action before the year ends. Here are just a few examples of what to consider:

Do you own a business? Even if it’s just a side-hustle to make extra money, you can save on taxes if you make planned purchases this month. For example, if you need a new printer, buy it in December. That way, it will be deductible this year.

Check your subscriptions. Many types of subscriptions — publications, online apps, memberships — automatically renew in December. If you subscribe to something you no longer want, cancel it this month. Otherwise, you might be stuck paying the renewal fee.

Review your investments. Sit down with your advisor and go over your investments and other savings. There might be year-end opportunities you can take advantage of. Also check for investments or financial instruments that may be set to automatically renew this month.

Watch for price hikes. It’s common for companies to raise prices at the beginning of a new year. Review your bills for announcements of fee increases. Some of those may be negotiable. You might also want to make other changes to reduce the impact.

Taking time this month to review expenses and investments could save you a bundle in 2021. It’s worth the effort!

Chances are, you know that you should change the batteries in your smoke detectors at least once a year — even if you suspect the batteries are still good.

But that isn't the only fire safety check you should do annually. Here are some other recommended tips to help keep you and your family safe.

• Clean your stove burners and oven regularly. Hard grease build-up can become combustible.

• Check your cupboard for cleaning products, paints and other liquids that are flammable. Read each label carefully. Use and store each product only as recommended.

• If you keep a fire extinguisher in your kitchen — and you should — confirm that it is still good. Extinguishers are like food. They have expiry dates!

• Go over your fire escape plan with your family. Make sure everyone knows exactly what to do if a smoke detector goes off or if there's a fire. (Don't have a fire escape plan? Make one!)

• Check that all windows open easily, especially upper floor windows.

• Check appliances you use often, such as hair dryers, for worn or frayed cords.

• Regularly clear away lint build-up in the clothes dryer. Check the outside dryer vent annually to make sure it's clear and working correctly.

• If you have a wood-burning fireplace or stove, get it cleaned and inspected by a licensed technician once a year.

Many local fire departments offer homeowners free tips and even in-home advice and inspections at no cost. Contact your fire department and ask about programs available to you.

If you want to reduce your home energy costs, the easiest way is to turn the thermostat up or down. In fact, you probably won't notice a difference of 2 degrees either way — and the savings can be substantial.

However, if you want to lower your bill even further each month, here are some additional tips that are relatively easy to implement.

• Plug or fix the drafts. Even in newer homes, air filtration can occur at windows and doors. So, check around your home for drafts. Windy or cold days are the best days to check. Then, get any drafts you find repaired or, at least, temporarily plugged.

• Check the attic. Heat rises and can escape through the attic. So, once a year, check the attic insulation for thin or bare spots. The insulation should be even across the space.

• Get smart with your thermostat. Most thermostats these days are programmable. Program yours to reduce the heat at night and when you're away in the winter. In the summer, be easy on the A/C during the day and save the cooling for nighttime.

• Unused rooms? Close the vents to reduce heat or A/C. You might be surprised by how much that will lower your energy bill. (Think about rooms, such as a rec room, that you only use on weekends.)

• Harness the sun. It's free energy! Whenever possible, keep curtains open during cooler seasons to take advantage of this heat source, even on cloudy days. Do the opposite during hot summer days.

Try some of these ideas over the next couple of months. Then, look at the impact they’ve had on your energy costs.

For many homeowners, selling their current property and finding their next home can seem like a daunting experience. But, it doesn’t need to be. In fact, the process can be smooth and relatively easy, even fun, if you do the right things.

Consider these tips:

1. Create a profile of your next dream home. If possible, get the whole family involved in this exercise. Turn it into a fun game.

2. Learn the steps involved in selling and buying. Don’t be shy about asking questions. The less mysterious the process seems, the more likely you are to enjoy the experience.

3. Visit neighbourhoods you’d like to live in. Explore the area. Go for walks. Imagine living there.

4. Clean out all the clutter and other unwanted items from your home. This not only makes the house more comfortable for you and your family, it also makes it look better to buyers.

5. Don’t do everything on your own. Get help. If you need a repair person, housecleaner, contractor or pet sitter, hire one. Lessen the workload so you can enjoy the adventure.

6. Plan fun things to do away from home during buyer viewing appointments.

7. Keep a “moving calendar” and schedule appointments, tasks and other activities carefully. The more organized you are, the less stress you’ll feel.

Of course, the best way to make moving fun is to work with a good real estate agent – someone who knows how to sell your property successfully and can make the process go smoothly.

Outdoor lighting has come a long way from the days of patio lanterns and strings of lightbulbs. These days, there's an exhaustive array of options available to illuminate your outdoor space, and make it more appealing and comfortable, particularly in the evenings.

Here are just a few ideas:

• Solar garden lights. These lights are on stakes that can be easily inserted throughout the garden. Powered by the sun, they generate enough energy to cast a soft, pleasant glow along walkways or in flower beds in the evenings.

• Deck post lights. These are easy to install because they're designed to sit on top of a standard 4x4 wood deck post. Most are solar powered.

• Street-style lamps. As the name implies, these look similar to old- fashioned street lamps. Installation is a little more complex, but still DIY-friendly. They're eye-catching and have a dramatic impact on the look of your outdoor space.

• Portable lantern lights. These are outdoor lights that are portable and often made to look like a decorative fixture for a coffee table or side table. They can be placed anywhere.

• LED walkway lights. These are small lights that fit neatly and almost invisibly under stairs and around walkways. Walkway lights not only look good but also improve safety. Most are battery powered.

• Planter lights. This is one of the most interesting options. Each one is both a flower pot and a light in one! The pot itself is translucent which allows the light inside to shine through.

Design experts say you should treat your outdoor space as you would any room in your home. Lighting it up for evening comfort and enjoyment is a good place to start.

No matter what you think of snakes, you must agree that they have a unique way of dealing with worn-out skin. When the time comes, they simply shed it — like an old jacket — revealing a fresh new skin underneath.

Your home's roof doesn't have that advantage! So, when the shingles wear out or become damaged, you need to have them replaced.

Unfortunately, it's not always easy to determine whether your shingles need replacement right away, or whether you can hold off for another year. Assuming your home has the most common type of shingles — asphalt — here's what to look for:

• Corners upturned on some shingles.

• Missing shingles.

• Shingles lifting during high winds and not settling back into place (flat) within a day or two.

• Heavy accumulation of shingle debris (particles) in the gutters.

• Shingle bits and pieces found on the ground around your home.

• Spots on your roof that still look wet a day or two after a rainfall. (This could be a sign of water infiltration into the felt or even the roof deck.)

If you have any of these signs, be sure to have a roofing contractor take a closer look.

Before investing in a new roof, be sure to check with the retailer or contractor who supplied the original materials. Your shingles might still be under warranty.

Bottomline: Don't delay. You don't want to wait until you hear drip drip drip before taking action!

Remember the last time you had a family discussion about what movie to watch? Chances are, there were some disagreements! In fact, it might have been agonizing trying to get everyone to settle on the same one. Now imagine getting everyone to agree on what type of home to buy in a multigenerational scenario!
 
Obviously, you want family members to be in harmony when looking for a new home. The more everyone is on the same page, the smoother the process will be.
 
Here are some tips worth trying:
 
Make a list. Have everyone list the top three features they want in a new home. You might find that family members are closer to agreement than you thought. Also, family members will likely not be disappointed if they get two out of the three features they want.
 
Have a family meeting. Set a goal to have a clear profile of the kind of home you want by the end of the meeting. Be prepared for some lively discussion, but also be firm that a decision needs to be made.
 
Be understanding. If a family member insists on a particular feature, ask why. It might be trivial, such as having a shopping mall within walking distance, when driving is relatively easy. On the other hand, the desired feature might be something truly important and worth considering.
 
Manage expectations. Explain that not everyone will get everything they want and that you (or you and your significant other) will do your best to accommodate everyone’s wishes.
 
There’s no perfect solution. Depending on your family, it might be difficult to make sure everyone is happy with the home you end up buying. However, by using these tips you can ensure that everyone will at least feel they’ve been heard. Then, once you start building memories in your new place, everyone will start to feel like it’s home!

You've heard of the term "curb appeal". It refers to the initial impression people get when they first see your property from the street. If the impression is a good one, it sets the right tone for the rest of the house.
How do you boost curb appeal? Here are some proven ideas that you can get done in an hour or so:

• Wash both the inside and outside of the front windows. You'll be amazed at the difference that can make.

• Sweep the walkway leading up to the front entrance. Add a new welcome mat and wash down the front door.

• Mow the lawn. Lightly trim the hedges. Weed flower beds.

• Remove anything from the inside window sills that may look unsightly from the outside. Try putting a couple of flowering plants there instead.

• Place any trash bins out-of-sight. For example, put them in the garage or neatly at the side of the house.

• If the entrance door hardware is old and worn, change it. New hardware can make a bigger difference than you might think.

• Make sure the outdoor lights are working.

• Add some flowering plants to flower beds, or buy a couple of portable potted plants and place them strategically.

• Clean your mailbox. If it’s rusted, replace it.

• If you have a power washer, give the walkway and driveway a quick blast. Just be sure it will be dry before the buyers arrive.

These one-hour improvements may seem minor, but anything that helps people form a more positive first impression of your home is worth the effort!

With the uncertainty that we are currently facing, a lot of people are wondering if they should defer some of their monthly payments. The very best way to figure that out is to know exactly where your money will be coming from in the next few months and where it will be going. 
 
How can you achieve this? 
 
The answer is simple: make a budget.  Knowing exactly where every dollar will be going BEFORE the month begins will put you in control of every dollar that you will earn or spend and will also alleviate some of the financial stress you might be experiencing.

We have found that a good way to start is by looking at the last 6 months of expenses to figure out what the next 6 months might look like.
 
Step 1: Write down your expected total income for the next 6 months
Do it for each and every month. This includes your after-tax income from all sources of income (employment income, EI benefits, spousal support, investment income, etc.)
 
Step 2: List all your expenses for the last 6 months and categorize them
Most banks offer online tools to quickly download your bank statements into an Excel spreadsheet. Let us know if you need help with this!
 
Step 3: Transfer your total monthly spendings into this year’s budget spreadsheet
Make any required adjustments to your income and expenses going forward. We are happy to email you our cash flow/budget templates if it helps.  Just email us at philip@philiphollett.com to get your copy.

Step 4: Split your expenses between FIXED or VARIABLE
This will make it easier for you to know which expenses are a must and which ones might need to be adjusted.
 
Step 5: Subtract expenses from income
If you have a surplus, you’re in good shape and need to put the extra money under SAVINGS to achieve a ZERO balance. If you’re short, you need to decide where you can make some changes in your variable expenses. If you still can’t get to ZERO, you might want to consider making arrangements with your creditors to defer some of your monthly payments.
 
TIPS:
-           If there are things you will need to spend money on less routinely, you should set money aside for those monthly instead of trying to figure out how you’re going to come up with a lump sum within a single month.
 
-           Whenever you need to accumulate money for a specific buy, it might be easier to have a separate savings account for that money. When it comes time to use the money, you transfer it back to your regular account to pay the bill.
 
If you think you won’t be able to make your monthly payments over the next 6 months, it is important that you take immediate action.  Contact your bank or service providers before you miss a payment.

We're here to help, don't hesitate to reach out to us.

As more and more people have to work from home, the planning of home offices has become increasingly significant. There are many ways of creating office space and realizing a space that is a pleasure to use.
 
Perhaps one of the first points to consider is where to place your office. Your work may require privacy and your home office might get in the way of family living, especially now that kids are at home too. Make sure you’re not working off your couch all day as it will negatively affect your productivity and may potentially affect your posture and hurt your back.  Choose an area well away from the hub of family life, like a seldom-used guest bedroom, loft or basement space. It may be worth converting a garage or outbuilding to achieve a comfortable home office environment.
 
A proper desk and some adequate storage are also essential if working from home is to be a success.  When you are seated, the computer screen should align with your eye-level and the keyboard should sit at a slightly lower level so that your hands are at right angles to your elbows.  Office items often create a “busy” effect so for a sense of calm and order, having your space well organized with shelving, cabinets and(or) drawers is key.
 
List every piece of essential equipment that you will be using in the dedicated home office and decide how near or far each item is to be stored in relation to your desk for maximum efficiency.
 
A comfortable chair that provides good support is essential.  The chair should be adjustable and on wheels, for greater mobility. Consider a standing desk, especially if your work demands that you sit for long periods in front of a computer. Otherwise, make sure you get up and move / stretch every 20 minutes.
 
Good lighting is also important. Desk lighting should fall without creating shadows or glare.  A desktop lamp on a flexible arm is much easier to control than a desk lamp with a fixed head. Same thing for natural lighting: make sure your desk is facing the window or sideways to avoid glare on your computer screen.
 
If space permits, try to add a comfortable area for relaxation with a small coffee table for setting down a glass of water and a book or magazine.  But don’t make it so cozy that all you’ll want to do all day is nap.
 
Working from home can give you some flexibility but keep in mind that you still have to plan your day with time slots for getting work done. 
 
-Determine the start and the end of your workday then make a schedule that include proper lunch break and stick to it. 
 
-Get dressed for work even if you’re not going out. Getting out of your pj, showering and getting into comfortable clothes can help get you into work mode and be ready for any impromptu video conference with your clients or colleagues. 
 
-Reduce distractions that don’t require your immediate attention, like television and household chores. You can do those during your lunch break or after work hours.
 
With a little work, you can quickly create a home office space that is comfortable, functional and enjoyable. It sure beats the dining room!