_ BUSINESS

Separation
an cost

SEPARATION AND
divorce -—- whether from
YOUr spouse or vour job —
should move vou to takes
close look at your finances.

Even if your jab is -ate in these
Teetssionary times, eutiing diving
costs GH provide more troney to
eliminate debt. build a reserve.
buy a Cirst or heer frome, cthe a
faney holiday. retire sooner and
AO Ot,

In theory, surviving a downturn
in your (family) income is simple:
when you have fess money to
spead, you simply spend fess. Put-
ting the theory into practice, how-
ever, is a chaticnge.

In her book, Separation and
Divorce, A Canadian Woman's
Survival Guide ($16.95; published

by Hurtig in 1986 — check your
fibrary if the bookstore doesn't
have a copy), Nancy Gibson says
you must first list) where your
money has been going.

ff you find that outgo exceeds
income, you can (a) use savings,
(b) borrow, or (c) reduce vutge,

Using up savings and going into
debt are all iwo vasy — and
should be your last resort. First.
try to cut back, Here ure some
ideas based on Gibson's sugges-
tions.

* Reat/morigage. Cutting this
cost can be a major adjustment if
you have a home and family. Yet
by moving to fess expensive hous-
ing you can achigve major sav-
ings. This usually lias to be a fair-
ty dramatic cut to ensure savings
more than make up for the costs
Of selling, inoving and buying.

* Food. Saving money here can
usually lead to more nutritious
cating. Cut out jurk focd,
prepackaged meals, food high in
sugar and so on. H any family
members buy lunch out, swiich to
the brown bag approach.

* Utilities and heat. Ose timers
te turn off lights and the furnace
if you tend to forget. Turn down

the heating and wear warmer
clothes.
* Phone. Elirainate rented ex-

tension phones, Exchaage the re-
maining rented fancy phone model
for a less expensive basic model.
Cancel cstra services which are
probably was cather than needs.
Reduce long-distance calls, always
phone dering the cheapest times
~ and even then use a kitchen
timer to Hrait the calls.

* Transportation. Owning —
insuring, miabuaining and even-
tually replacing — a car costs
more each year, Can you trade
down? Get rid of your second or
even only car? Car pool? Bus?
Bike? Even walk?

¢ Clothing. Second-hand can be
trendy for many teens. HP you
can’t bring yourself to visiting

Michael

DOLLARS AND SENSE

second-hand stores and garage
sales, and if you can’t make your
own clothes, at Jeast buy quality
in traditional stvles to get the
most value. Choose clothes that
you can wash and press at home.

*Personat care. Try the
neighborhood barber instead of a
stylist (that is. if sou have hair to
cut, Buy inexpensive. basic,
hard-tnilled soap.

*° Entertainment. This newspa-
per is a yood source of free enter-
tainment. If you bave a VCR,
have your movie nights at home.
Or watch for movies on TY. Plave
more pasta meals when you enter-
tain athame.

© Househeid expenses. Sf sou
— ora friend -—— can't fis small
appliances, check bargain stores
and garage sales if you musi
replace (the irem. Mena frayed
linens and towels.

> Gifts. Choose items tau in-
volve more of your time and less
of your money, whether you can
make gilts or provide babysitting,

Camping, picnics
and visiting friends and relatives
you like can cut casts.

Review every spending catcgory.
Can you reduce home and car in-
surance by uccesting a larger
deductibie? Could a single term
life inswance policy replace sever-
al smaller, more expensive whole
life insurance policies? If you have
pets, is there a cheaper way ite
feed them?

List all your expenses in order
of priority. Then trim from the
bettom, or trim from the higher
priority items to provide funds for
those further down the list. 17 you
have 2 partner or family, make
separate lists -- then compare and
cumpromise.

Try not to rise credit cards, even
if yuu do manage io pay them of
each mont. You spend more
when yea can put off the actual
See Limit pase BZ

30-119 days
TERM DEPOSIT

983-3773

Lansdale Quay
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FCitizens lrust

SUSE tr OE
Oe

1990 - North Shore News - 64

Wednesday, Novernber 14

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Vote for Quality of Life

On November 17 |

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BARA SHARP

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environmental concerns she’s your VOICE on City Council!”

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for information phone: 989-3719

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