24 ~ Wednesday, December 9, 1992 - North Shore News A sensible approach to money management NICK VRATARIC is out to become an actor. But it was his performance in the real world of basic personal finan- cia! planning that prompted me to give him a standing ovation. Whether you are a student (or there’s a student in the family) or you need to be careful with your money, you (or the student) might like to 2ct on some of these ideas. (Last week, I wrote about avoiding a Christmas credit crunch. Now you can read about putting theory into practice — Nick Vrataric’s seasonal gift to all of us of a sensible approach to money management.) The 22-year-old student is in his third and final year of study at Vancouver Community College’s Studio $8. “*My aim is to be 2 stage actor but ll probably have to do some TV commercial! work at least at the start to help pay off my stu- dent loans,’’ he said. Vrataric expects to awe about $15,000 when he graduates. ‘*Because I’m at school 12 hours a day most days, six days a week, I can’t hold down a part-time job during the year,’’ he said. ‘‘So I have to rely on student loans, granis and the money I save from my summer jobs. “I really have to be careful I don’t get seduced by that large wad of cash that shows up in my bank account at the beginning of term.”” So | Vrataric separates enough money to pay for fixed costs like tuition, phone service and rent during the term; he shares an apartment, paying $325 a month. “From what’s left, I work out how much I can spend on food and then allow myself a daily Michael Grenby & DOLLARS AND SENSE spending allowance for transpor- tation and so on,”’ he said. “7 usually pack a lunch and then spend $5 to buy dinner at schocl. “FE buy a lot of food in bulk. I also look for sales and buy things like toothpaste and detergent when the price is right. And I’ve found that corner markets can have great prices on certain items of produce and weird stuff like ntayonnaiss and tuna — cheaper than the supermarkets.’’ Vrataric is from out of town, “so one of my biggest expenses when 1 first arrived was long - distance phone bills. I’ve cut back considerably there; I now write letters and call only when I abso- lutely have to.”’ Seniors info line available SINCE ITS inception in May, the Seniors’ One-Stop Information Line has handled nearly 700 calls fron North Shore residents. So far, 32% of inquiries have come from North Vancouver City, 23% from North Vancouver District and 20% from West Van- couver. Over 25% of calls have been regarding health services such as support groups for those who are recovering from a stroke, coping with lifestyle changes, dealing with substance abuse, and bezeave- ment; where to borrow or buy supportive home equipment; in- formation regarding home emergency medical alert systems; who to contact for home suppozit help; how to contact a ‘telephone buddy’’; or information about meal programs such as Meals on Wheels and North Shcre Diners Clab. Nearly 20% of inquiries have been about housing relocation. Calls are received not only from seniors themselves, but from fami- ly members who are concerned about their parents’ ability to cope in their present surroundings. ‘Approximately 6% of questions are about minor house repairs and improvements. For example, perhaps grab bars need to be in- stalled in the bathroom or a loud bell is required for someone hard of hearing. Sixteen per cent of calls are a a ae Where jeans are not welcome what looks Crisp and Tailored? { Riley Endurables BI 1194 Marine Dr. at Pemberton S434" FREE Catalogue 1-800-387-0110 Le=7713 WORLD S'HEST,. TRAVEL CLOTHING about financial and legal services. Transportation is also a_ big issue for seniors and this area rep- resents 7% of calls. Questions range all the way from ‘‘Who do I contact when I’ve lost my bus pass?”’? to ‘‘Are there any volun- teer drivers to take me to my ap- pointment at the Carcer Clinic?” Finally, 18% of calls fall into a general category which can en- compass all kinds of challenging questions. The sponsoring agency for the project is North Shore Communi- ty Services, which is located at 1060 Roosevelt Cres. Other community partners in this new Ministry of Health initia- tive include North Shore Health, Capilano -Community Services Society, North Shore Home Sup- port Services Society, Lions Gate Hospital, Lionsview Seniors’ Planning Society and the North Shore Services to Seniors Net- work, The Seniors’ One-Step Infor- mation Line is 983-3303 and is in effect weekdays between 10 a.m. and 3 p.m. @ Regular Tax Sheltered Cash Distributions (12% Annually) § @ Plus Share of Profits @ RRSP Qualified Call Today For information Vancouver: 687-1919 Victoria: 388-3166 STRAAKD Properties Corporation He said his parents help out fi- nancially ‘‘only if {’m in trouble. They don't give me a flat sum but will send $100 here and there, al- though that hasn't happened tco often.”’ Vrataric has a unique way to prepare himself for his school year of careful spending. “The month before I return to school, I tske myself on a spend- ing spree just to get it out of my system,”’ he said. ‘‘Then U rely on the memory of that day whenever I feel tempted to spend Iavishly.’* Vrataric did admit that his spending sprees are usually ‘‘pain- fully sensible. I might buy $50 worth of clothing — but that’s a huge amount compared with my spending when I'm at school.’’ A careful review of grants and bursaries comes high on Vrataric’s shopping list each year. “Although these funds are limited, it’s good to apply as it’s free money,” he said. He had the fcllowing advice to people on a limited budget: @ When you do have money, control your spending — don’t be tempted to go away on a weekend holiday, for example. @ Find cheap things to do, like two-for-one movie admissions. @ Take care of yourself; eat pro- perly, exercise. Vrataric estimated it costs him $6,500 to $7,000 to live for eight months in the city while he at- tends acting school. Despite the focus of this column on financial matters, regular readers will know IJ firmly believe Advertisers Antony Hutton sales representative 980-0511 there’s more to life than money. So in this hectic and, for many, stressful time of tue year, I en- courage you to take some time to count (just can’t get away from that terminology!) your blessings. If you are alive and enjoying at least a reasonable quality of life, start with that. 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Mike Grenby is a North Shore-based columnist and in- dependent financial adviser who works with individuals; he will answer your questions as space allows — write to him c/o The North Shore News, 1139 Lonsdale Ave., North Vancouver V7M 2H4, For more information, please call The North Shore's only full Service investment firm RBC DOMINION SECURITIES Merber of the Royal Bank Group 925-3131 201-250 15th Street. West Vancouver Statistics snow that Canadian wornen are impacting the marketplace more every year. Not only do women own 1/3 of all new businesses today, they are starting businesses at twice the rate of their male counterparts. The North Shore News salutes women in business with a special feature January 3rd. If you are a woman in business, join us In applauding you by promoting yourself and your business. Cail us for more Information. 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