50 - Wednesday, Nov. 4, 1992 - North Shore News Managing money wisely YOU DON’T have to go to the dogs to get good stories for the newspaper. But 2 canine connection can sometimes help. I met Jill Shapland through Sprog, her fiveemonth-old Jack Russell terrier. We were all out for a walk one evening and, both being pulled by the puppy, Shapland and I got talking. She turned out to be a personal financial adviser’s dream come true of how to manage money the right way. Shapland got her first job three years ago earning $28,000. She bought her first home last year — her tenants are making the mort- gage payments — and she plans to buy another property by Christmas. “I’m amazed by the oppor- tuniGies in Canada,’’ said Shapland, 25, who grew up on her parent’s farm near Swimbridge, in north Devon. “I could never have done this in Engiand. ‘*My parents probably expected me to marry the next-door neighbor’s son —- as my older brother married a girl from the village.’* Instead, Shapland graduated from Leeds University with a degree in animal science. She worked the whole time, not only to pay her expenses but also to save enough to travel in the summers — hitchhiking around Europe, Australia and New Zealand and, in 1988, Canada. Following up a contact she made during her visit to Canada, Shaplanu got a job with Hoechst Canada Inc. selling animal health products to vets and: animal feed mills, Within two years, she’d saved enough to make a 15% down payment on a $118,000 two-storey house with tenants already in the downstairs suite. Michael Grenby DOLLARS AND SENSE “Actually, as well as the mort- gage, | had to borrow $2,500 on my $5,000 line of credit,’ she said. ‘But I knew | could save enough to pay that off in two or three months.” The upstairs has two bathrooms, so Shapland took in a roommate for the second bedroom and finished up a room under the deck for her office. The rent from the roommate and the couple in the downstairs suite covers her mortgage payment. When I congratulated Shapland on her accomplishments, she was a little surprised to find I was im- pressed. “1 know what I want to do so | just do it,’’ she said. ‘‘1 suppose you need a strong desire and the will to make something happen. I guess some people are controlled by society and financial pressures, or they don’t know what they want. “I simply fecus on what I’ve always wanted: to work in agriculture, and to have a place in the country where I can have horses.”’ GENERAL MOTORS ASKS: ‘4S THERE A MARKET FOR A GREAT COMPACT TRUCK WITH A MSRP OF $11,429 THAT WOULD GRAB A HUGE PERCENTAGE OF THE MARKET AT $8,995 *?” *NET OF REBATES So Shapland has continued to save $1,000 to $1,500 a month and now is looking for a piece of revenue property in a country cen- tre — again one whose rents will cover the costs. “Eventually, [ll sell ane or both of the places and buy my small holding for the horses,’’ she said, She also plans to start con- tributing to a registered retirement savings plan for both the long- term tax-sheltered growth and the immediate tax break. As her income increases, she simply saves more. “I Pay my own expenses when | travel for my job and always put my ex- pense account cheques into sav- ings,’’ she said. All her furniture is second- hand; for example, she paid $45 for her kitchen table and three chairs, then refinished them. She did her own decorating. But the place looks and feels comfortable; there’s no suggestion of any pen- ny-pinching apple-box decor. She does spend money on sports; she plays rugby. In the winter, Shapland takes her skis with her when she’s on the road. And she ‘‘splurged’’ $300 to buy Sprog. “—'m travelling around the pro- vince more than half of every month,”’ she said. ‘‘Sprog’s good company and loves it when we visit fatts.”* Having a company car -~ she logs more than 70,000 km a year — helps with the savings, too. - Copyright 1992 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 IF OUR FOUR (ONLY) STOCK UNITS DELIVER WITHIN THE 4 DAYS OF THIS On the North Shore O } S 6 Guaranteed Investment Certificates | (3 Canada Savings Bonds 0 Mutual Funds i Mortgage-backed Securities 2 [1 Preferred Shares CO RRSPs (C) RRIFs 0 Portfolio Evaluations CO Financial Planning f= For more information, please calt The North Shore's only full Service investment firm. 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