#6 — Wednesday, September 29, 1999 ~ North Shore News Y2K impact minimal From previous page preparing their systems for the next milleanium. This invest- ment is typical among the western economies as well as developed markets in Asia and rough estimates put world- wide Y2K preparation spend- ing at close to $1.4 trillion US. Even U.S. Federal Reserve chairman Alan Greenspan, arguably the most intlucntial speaker in financial circles, has addressed an international banking conference on the Y2K bug, held earlier this month in Chicago. Greenspan said that he anticipates a “minimal” Y2K impact on financial markets and that the situation probably won't require people to “run into the desert and bury them- selves for New Year's.” The first hurdle for anti- quated computer systems to clear has already been passed. On Sept. 9, 1999, the date field in the programming reg- istered 9/9/99, an entry syn- onymous with “end of ficld.” _ Apply now on-line for a low cost _ Many people feared that this date would shut down numicrous systems, and carlier this year it was touted by the doomsayers as a sign of things to come. Warnings that “The Nines Problem” threatened te unleash chaos made headlines. Much to the doomsayers d appointment, Sept. 9 passed with nary a glitch to be found. Perhaps the greatest risk with the Y2K isn’t a computer problem, but rather a human problem. In future articles, PH cover a checklist of sensible Y2K preparations tor vour personal finances and some tips on protecting yourself against Y2K scams. With some timely preparation and planning, you can avoid some potential glitches and ensure that your investment strategy stays on track. Chris Carter is an invest- ment executive with ScotiaMeLeod in = North Vancouver. He is alsa the daily business commentator ou the BCTV Morning News. He can be reached at 981-7618. HOME EQUITY MORTGAGE E 687-2020 Lender Broker fees may apply Lube, Oil & Filter change "14.95 Front Brakes (pads most cars < iront*5.00 Rear Brakes shoes inchadee) most cars & fom 30.00 4 at "39.00 « 6 py 49.00 checks, Sogting, Fretem checis $29.99 C¥ joint boot replaced (ine. pasts) from *S5.00 0-9936 north shore news "photo wrww.grondy. MONEY Matters’ columnist Mike Grenby and wife Mandy share a kiss and some wine by Australia’s famous uits of your savings | Ayers Rock. Australia: It was one of those great moments money can buy. The sun was setting as Ayers Rock — Uluru (its Aboriginal name) — changed colour from sandy brown to purple. Our driver and guide, Ulrich Fix, poured the champagne and set cut nibblies on a table by the tour bus. He had parked at a road- side spot where the giant monolith perfectly filled the camera’s viewfinder. My wife Mandy and I toasted cach other and the passing traffic with the champagne as we atc a vari- ety of fancy cheeses, sausages and crackers. Was it just our imaginations or did we detect slightly envious looks from the people in the cars and buses rushing to the nearby parking lots set aside for sunsct viewing? No matter. We were thor- oughly cnjoying, as the slo- gan on the side of the Alice Springs Holidays bus said, “Soft adventures for the dis- cerning traveler.” The cost of the almost- all-inclusive three-day tour for the two of us was head- ing for $1,600. But this was the “spend and enjoy” for ‘which we'd done all the “save and invest.” (Come to think of it, compared with the $350 long-time readers will remember we spent on a . 4 bread basket in Nantucket 10 years age, our visit to Australia’s red centre was rather a bargain.) Please don’t use my spending excesses as an excuse to go wild with your money. But if you are a hard-core saver, do spill a few gold coins our of the bag from time to timc. Believe me, it pays off. Betore flying to Alice Springs from Darwin, we had driven along the Gibb River Road in the northwest corner of Western Australia known as the Kimberley. It’s reminiscent of some of Canada’s frontier areas — only hot (at 1,600 km south of the equator) instead of cold. . Without even a glance to see what was on special, | had tossed a tarpaulin, cight- litre water cooler jug, fold- ing stools and other outdoor gear into the shopping cart. Oh, what a feeling! But habits are hard to break. I talked Mandy into putting back the $69.95 cooler box she loaded on to the cart, and talked the pro- duce manager into giving us © a styrofoam broccoli con- tainer free. At the end of the week- . long road trip, we blew a large chunk of what we'd saved by mailing home the folding stools. “They'll bring back fun memories of having tunch by billabongs” (pools - of water trapped by falling Jevels in crecks), Mandy said. And just maybe, one day the cancelled stamps will go up in value, too. Mike Grenby is a columnist and independent personal financial adviser. He'll answer questions in this col- umn as space allows but can- not reply personally. Contact him at P.O. Box: 50029, South ‘Slope R.P.O., Burnaby, B.C. V5] 5G3; e-mail . . .