My TFSA Journey

Every year since 2009, I have always tried to max out my TFSA till 2014.  I have contributed a total of $31,000.  

When I first started, I opened up a TFSA savings account earning less than 2%.  I treated it as a regular savings account depositing/withdrawing then depositing some more back and I got penalized for "over" contributing for the year.  (I never had more than $5,000 in the account)  So my first year for TFSA was actually a lost cause.  I ended up paying a penalty that was more than what I earned in interest for the year!  Sad, but true.

Lesson learned:  I can not deposit the amount withdrawn for the year back into my TFSA.  I would have to wait till the next year to deposit the amount withdrawn + the contribution limit.

The following year, I decided to open up a brokerage TFSA account with Questrade to buy stocks.  I've made quite a few critical errors in my early trading days as I got impatient with my slow going stocks... I do regret my impulsiveness.  

After all the mistakes and bad trades I made over the years, my TFSA now stands at $47,169.83 +52.16%.  My rate of return is decent, but it could have been better in all respect.

Currently, I only have four stocks in my TFSA:

500 shares of FN.TO -1.02%
217 shares of D.UN.TO -4.75%
148 shares of V +58.92%
150 shares of MA  +33.51%

But for 2015, I am debating if I want to contribute the full $10,000 maximum allowed or not.  What is a decent Canadian stock trading these days?  I am finding the markets over valued with the bull run we've had in recent years.  Buying American stock is out of the question since the Canadian dollar has fallen so much in the past year against the American dollar.

Another reason I've held back contributing this year is I have been working on my non-registered account deriving monthly income on a consistent basis from option trading.  I would be taking away my buying power within that account if I were to take out $10,000.  Below are my results from trading options alone:

REALIZED PROFITS THROUGH OPTION TRADING
AUG 2014	$0
SEP 2014	$98.96
OCT 2014	$0
NOV 2014	$1,588.24
DEC 2014	$683.54
JAN 2015	$847.75
FEB 2015	$1,125.43
MAR 2015	$1,464.44
APR 2015	$678.84
TOTAL	$6,487.20

Yes, I can move money around.  But do I really want to buy a lacklustre stock in my TFSA.  This market is unpredictable... but with trading options, I am putting money into my pocket each month instead of watching gains or losses on paper.

Plus I have other commitments and obligations to attend my money to.  It is also hard to save when I'm in the lower middle income earner category.

Meal Planning

Random thoughts spilled out onto blog...

I don't usually have breakfast.  I know I know breakfast is the most important meal to kick start your day.  Usually, I roll out of bed last minute to get ready for work and don't have time to eat breakfast.  So essentially I'm saving money on a meal?!  Breakfast doesn't always have to be expensive but it does add up over time with even the simplest cereal and milk or toast.

Note to self:  I really should wake up 30-45 mins to prepare myself for work rather than 15 mins and take the time to eat breakfast instead of starving myself before lunch time.  I always feel a bit flustered in the mornings as I don't like to be late for work (Ms Punctuality here).  My fiance slows me down in the mornings and I get grumpy at him as we carpool in the mornings.

Lunch is my start to the day.  I spend a good 5/7 days at work.  This past week, I was good.  I didn't go out to buy lunch at all versus previous week where I did almost everyday to the tune of $16.38.  It really depends on meal preparation. 

If I make more for dinner then I'd have leftovers for lunch.  I cook for my fiance and I just enough usually for dinner.  Simple meat and veggies with rice..  If its pasta or casserole, then we usually have leftovers for lunch next day.  I should make bigger portions so we can bring more leftovers for next day lunches more often than not.

The key to saving is to make your own lunches instead of going out to eat!  Buy a loaf of bread and lunch meat... of course cheese/veggies is a great filler as well to make your own sandwiches.  If you find that too boring, switch it up with English muffin, bagel or wrap!

Bring fruits and yogurt for healthy snacks.  It is all about choices.  Am I going to stop buying lunches and brown bag it from now on?  Hells no, its all about balance.  I am not going to deprive myself if I have the money to do so.  I like going out to eat!  Life is about living a little too right? 

Some people are so strict with their budget that they rather sit at home alone in the dark than going out and having fun. All to save a few bucks?  Know when to spend and when not to.  Find that balance.

Do you go out for lunches or do you bring your own lunches?  Or is it a combination?