By Aurea Crotty

Negotiation is an integral part of our personal and professional lives. At some point we will all need to negotiate a salary, buying a new home, a car, cell phone etc… Being able to negotiate successfully can make a big difference to our outcomes.

Taking time to hone your negotiating skills is time worth while.

Tips

1. Set your mind to it!

Negotiation takes work, and you have to want to do it! Talking about money is a touchy subject and can be very uncomfortable for many of us. If you are unwilling to talk about money and engage in negotiation, your reluctance will come at a price.

2. It’s not personal -never get emotionally involved -easier said than done…I KNOW!

A big mistake many of us make is to become too emotionally invested in our end goal. We allow our emotions and ego to get the better of us causing us to lose focus.

Remember, there is someone else in the picture and both of you want to feel that you are getting something out of the deal! Be friendly and patient (even if the other person is not).

3. First the worst, Second the BEST! -try not to be the first person to name a price!

By being the first to set your price, you maybe putting yourself at a disadvantage.

4. Ask for more than you expect to get -but be reasonable!
Even if the price is right ask if they can do better. Be nice, be reasonable. Remember, you never know unless you ask!

5. Create a WIN / WIN situation

When you look to create a win/win situation, everyone at the negotiating table feels they got something out of it! If someone feels cheated they may not be inclined to fulfill their end of the deal, or not want to do business with you in the future.

Have a negotiating tip or question? Post here.

By Aurea Crotty

You like nice things and you want the good stuff but it does come at a price, and it may not be a price you can afford right now!

The good news is you can have all the things you want. It’s just a matter of how. Planning, budgeting and being smart with your money are key factors to a successful and prosperous future.

Here are some practical tips to help you on your way to your fabulous shoes and a savings account you can be proud of.

1. Pay yourself first!

Most experts agree that the best money-saving tip is to SAVE! You work hard for your money, the more you can keep for yourself the better.

How much money to save is a personal decision, depending on your age, income, plans for the future etc. Whatever your situation, attempt to allocate a monthly percentage of earnings to your savings.

2. A brown bag today…makes a very big difference for tomorrow!

Find out what you’re spending, one of our biggest pitfalls is not knowing where our money is going.

Identify your habits: do you enjoy premium coffee, eating out, bottled water, après work socials? Do the math! That could be costing you as much as $30-$40 a day, over a year this could be costing you upwards of $10,000!

3. Become a Savvy Shopper…Get control of your impulse buying.

Many of our purchases are impulse buys, savvy marketers spend lots of time and money figuring our how to entice you and get you to buy their products. Don’t be a victim!

Is it a want or a need? A simple question to ask that will prove very profitable for your wallet.

Wait for sales! Everything goes on sale…I remember my aunt telling me to “never pay retail!” retail mark-up is exorbitant and name brands are even more outrageous. Know what you’re paying for.

4. Remind yourself what you’re saving for!

Create an inspiration board, make a list and write “vision notes” to remind you of what you’re saving for.

Do you have tips on how to save money? Share them with us.

By Victoria Joanna  BBA, CNP, RNCP http://www.victoriajoanna.com/

Are you aware of your own power to change your life this instant?  Consider this, no matter what is happening in your life right now, you have the power to change your experiences. 

As a coach, my primary goal is to empower my clients with the tools necessary to create the results they want. One of the first steps in the process is understanding that you can choose how you feel, act and react to any circumstance or situation.  The power to choose comes from increasing one’s self-awareness.

My experience has shown that this is not always an easy concept to embrace.  This is especially true when we’re in a situation where we believe that someone, or something, needs to change in order for a particular area in our life to get better.   Hearing that it’s all up to us can often create resistance, defensiveness and anger.  We often perceive our circumstances as being caused by external factors.   While that is partially true, how we choose to react to them and the action we take or don’t take, is truly what has the largest impact on our experience. 

Part of the reason it’s initially difficult for us to think this way is that we tend to confuse choice and accountability with blame and responsibility.  We are not to “blame” for our circumstances nor are we “responsible” for everything that happens; but we do have “choice” and are “accountable” for our actions, perceptions and beliefs about what happens.

Many of us have been conditioned to see things from a certain perspective, as a result we wait for circumstances to change around us and until they do, we feel trapped, paralyzed and frustrated.  Our workload takes over our lives, our boss doesn’t provide enough support, our husband isn’t attentive or we just don’t have enough time to take care of our health.  We see all of these things as being beyond our control.  To the extent that we do so, we are powerless to change them.

Remember Gandhi’s famous quote “be the change you wish to see in the world.”  It resonates with so many people because it’s fundamentally true.  Change happens from within and begins with us.

When we start to see our life in this way, we will no longer be a victim of our circumstances and other people’s actions.  We will see that we have much more power than we realized and change is easier than it appears.   We don’t need to wait for permission to live a happier and more fulfilling life.

If you’re not used to seeing life from this perspective it can be a little tough to get started.  Here is an exercise you can do to begin changing your perspective.

Step 1:  Take something that is currently happening where you feel as if you don’t have the power to change it.  Write out the issue:  “I wish I could (or I wish I had, etc)… but I can’t or am unable to do so because…”

Step 2:  Make a list of all of the alternative choices/actions you would have available if nothing was standing in your way.

Step 3:  Now beside each choice or action, write down the reason you think it’s not a viable option for you at this time.

Step 4: For each of the objections you gave above, think of at least three reasons why that objection may not be 100% true.  This is the hard part.  You want to be right and you may be convinced these things are standing in your way.  Challenge yourself, if only hypothetically, to see your situation from different perspectives.  Remember….it can be partially true, but not 100%.  Just try to see that there might be a different way to see the situation.

Step 5:  Assuming that in step four you managed to convince yourself (or at least become open to the possibility) that your objections aren’t 100% true, looking at all of the reasons you’ve listed, ask yourself what might really be standing in the way of you making a different choice.  Is it fear, procrastination, self-doubt, lack of motivation?  Be honest with yourself.  Through this process you begin to shed light on your unconscious emotions and by gaining more understanding and self-awareness you will be able to make a different choice.

By Allison McDonald-Sordo, Investment Advisor TD Waterhouse Private Investment Advice

In previous articles we have reviewed the fundamentals of investments:

The Importance of Asset Allocation

The Role of Diversification

Mutual Funds, Stocks and Bonds

The Indices

Market Volatility

Now let’s talk about what action you can take beginning today to make progress towards financial success:

Create a plan: Write it down and be disciplined in following it.

Pay yourself first:  Determine an amount you can afford to contribute each month toward short term goals (i.e. a trip) and long term goals (i.e. retirement).

Set up automated purchase plans to ensure those deposits are made each month.

Set aside an emergency fund with three months worth of living expenses.

Pay down your high interest debt: i.e. pay off credit cards in full every month or consolidate all of your debt to a lower interest rate.

You are in the driver’s seat. All you need to do is visualize where you want to go and map out a plan to get there. If you think you need assistance, don’t be afraid to ask for help, go into your local bank branch for starters or ask friends/family members for the name of trusted advisors that they recommend. Good Luck!

By Victoria Joanna  BBA, CNP, RNCP http://www.victoriajoanna.com/

Are you waiting for a new job, a new relationship, a new group of like-minded friends, a mentor, or maybe just new “stuff”…furniture, clothes or a great pair of shoes?

Sometimes in the process of wanting, visualizing, planning and doing, we can forget one very important detail – making space for something new to come into our lives. 

Consider what happens in nature.  Since as humans we are part of nature, it’s reasonable to assume we follow similar universal laws.   Centuries ago, it was stated that “Nature abhors a vacuum.”  What this means is that in nature, when a space is created, it has to eventually be filled.   For example, when you make a hole in the sand, eventually the tide washes over it and fills it back up.  It doesn’t stay hollow for long.

A less scientific way to think about it, is to imagine that our busy and over-crowded lives are like hands that are full.  We hold out our hands waiting to receive what we want, but they are too full to accept anything new.

So how can we apply this to our life?  If our lives and schedules are packed, our closets full and our minds cluttered there is literally no “space” for anything new.  In order to receive whatever thing, relationship or opportunity we desire, we must first decide what we are willing to put down, so that our hands are open to receive. 

The act of creating space signals that we are ready for change.  The reason it is often so difficult is that space can be equated with emptiness; emptiness equals fear, loneliness and uncertainty.  Some of our biggest fears are that of being alone, of failing and of making mistakes.   Making space then, is not only a physical or mental clearing, but also a statement of faith and hope.

If you’re not quite certain how to do this, below are some common examples of goals and the things you might consider doing to create space for them in your life:

For a new wardrobe:  clean out your closets and donate all of the clothes, shoes, and purses you no longer wear. More tips here: http://prettysavvy.ca/the-spirit-of-simplicity/

For a new relationship:  if you’re in a relationship, first you must admit it’s not working and decide whether you are ready to move on.  Only you can know if you are holding on because you think it can be saved, or because you’re afraid to be alone.  If you’re not in a relationship, make a space for it in your mind and your heart – don’t fill every waking moment with “busy work”, take time to connect with your vision.  If you’re closed, defensive, aloof or always preoccupied, you’re blocking it from coming to you.

For a new circle of friends:  if you’ve outgrown you’re friendships and want to be around more like-minded people who have the same goals and interests as you do, you must first make space for those relationships to occur.  Decide which friendships no long serve you and reduce the amount of time you spend with toxic people.  It may feel a little lonely at first, but that is temporary.  When you create the space, new friendships will flow into your life.

For a new career or job:  reduce the amount of time that your current job occupies in your life, both mentally and physically.  Work a little less overtime on evenings and weekends and replace that time visualizing, researching and contemplating your ideal job.   What you focus on expands, so if you spend 100% of your time living and breathing your current job, it’s unlikely that you will be able to create the space for a new opportunity to enter into your life. 

For a healthy body:  evaluate where you can create space in your schedule – reduce the number of nights you stay late at the office, replace one night of going out drinking and eating, eliminate one night of TV watching, remove junk foods from your kitchen.  Taking these steps first creates the space for healthy habits…otherwise you’re just trying to fit them in to a lifestyle already crammed with errands, obligations…and potato chips.

Whatever it is that you are waiting for to come into your life, just remember the analogy of the beach.  Dig the whole first, then wait for the wave to come in with fresh new sand.  Have faith in knowing that it won’t be empty for long.

By Allison McDonald-Sordo, Investment Advisor TD Waterhouse Private Investment Advice

Effective tax planning is dependent on an individual’s personal finances, so it stands to reason that investment and tax planning should be considered as part of the same discussion.

There are a few basics to follow if, like most people, you want to reduce your taxes. These principles are often known as the 3Ds: deduct, defer, and divide.

Deduct. A deduction is a claim to reduce your taxable income. You can reduce your taxable income and the taxes you have to pay by using all of the tax deductions you are allowed. Some examples include pension plan and RSP contributions, union/professional dues, alimony/maintenance expenses, employment expenses, moving expenses, professional fees, medical expenses, charitable donations and child care expenses.

Defer.  Generally, tax deferral offers two advantages. It is better to pay a dollar of tax tomorrow than it is to pay a dollar of tax today. And tax deferral puts the control of when you pay tax in your hands rather than in the hands of the Canada Revenue Agency. It is preferable to earn money this year and delay paying the income tax on it until sometime in the future.

Divide. Dividing taxes, or income splitting, is about taking an income and dividing it among more than one taxpayer. For example, it is preferable for two people (say a husband and wife) to pay tax on incomes of $40,000 each than for one person to pay tax on an income of $80,000.

Obviously, handling some or all of these issues can be complicated. Most people, quite rightly, depend upon professional advice to help them get the job done properly. To find it, speak with an investment advisor and a tax professional who will be happy to guide you in the right direction.

This article was prepared by TD Waterhouse Private Investment Advice for Allison McDonald-Sordo who is an Investment Advisor with TD Waterhouse Private Investment Advice and is for informational purposes only. It is not an offer or solicitation with respect to the purchase and sale of any investment fund, security or other product and does not provide individual, financial, legal, investment or tax advice. Please consult your own legal and tax advisor. TD Waterhouse Private Investment Advice is a division of TD Waterhouse Canada Inc., a subsidiary of The Toronto-Dominion Bank. TD Waterhouse Canada Inc. – Member CIPF. TD Waterhouse is a trade-mark of The Toronto-Dominion Bank, used under license.

By Safina Khimani of Faith Style

We are conditioned today to think that more is better, that we need a lot of stuff and that it’s taboo to wear the same thing more than once in any given week. The need for more has created wardrobes full of waste, sucking up our money and valuable time. Most of us have closets full of clothes but nothing to wear, we spend too much time figuring out what to put on in the morning rather than spending that time having breakfast with our loved ones. There is an easy fix if you’re up for the challenge – pairing down and noticing waste.

Have you ever wondered why kids like to wear their favourite Spiderman t-shirt or floral pink sweater every day? Children are super intelligent and not privy to the societal norms we are pressured by. They ask to wear the same thing purely because they love how they feel in it.

Getting dressed in the morning should be easy and fast. We want to feel confident and amazing in anything we put on, and if that means wearing the same thing three times in one week (as long as it’s clean of course) so be it.

We have tons of clothes that are just okay, and when we aren’t feeling so hot we’re more inclined to wear those average-deemed clothes. The dilemma is that okay clothing makes us feel just that – okay.

If our closet had only clothes in it that we LOVED, that made us smile from ear to ear, and made us feel happy, anything we put on would be an instant mood booster.

If we have a closet overstuffed with clothes that are 20% fabulous and 80% okay we’re doing ourselves a disservice. In the words of Jacqui Ripley “It’s said that clutter stresses us out by creating visual noise. The same can be said for an overstuffed wardrobe.” Take a moment and look at your closet, do you feel the same? By subtracting we can add so much more value.

Start your own wardrobe detox, purifying your closet of all the needless, loveless items. Once you’ve done that your wardrobe will represent only your best and allow for easier choices when getting dressed.

Take a quick test, count up all the items in your wardrobe, include coats, shoes, scarves etc. Let’s say you have 100 items and on average their cost was $50. That means you have $5,000 worth of clothes in your wardrobe.  Most people only wear 20% of what’s in their wardrobe on a regular basis – the other 80% is wasted. That could mean $4,000 wasted. Most people replace their clothes every 7 years and many spend 10% of their income on clothes – all of the waste adds up over a lifetime.

Understanding our shopping patterns helps us identify our bad habits. Do you own 6 pairs of black pants, 3 white dress shirts or maybe 4 argyle sweaters? Notice what you have, what you buy too much of, get rid of the excess and be conscious of it next time you go shopping.

Pairing down saves us money now and in the long run and will make life a lot easier for us in the morning. The more we have the harder it is to achieve greatness. Life is complicated as it is, our closet shouldn’t add to its complexity. It should reflect our personality, be fun and most importantly be easy. It’s much better to have five dresses we absolutely adore rather than fifteen that are just okay. Mediocrity is a sin; don’t settle for anything less than your best.

What are you going to subtract from your wardrobe this week?

By Lisa Richards

Finding Their Passion:

Coincidentally enough, Suzie Orol and Jen Kluger both grew up making their own crafty beaded necklaces from a young age. Like kindred spirits, the ladies met during their first month while studying at the University of Western Ontario in a carpool ride from Toronto to London. “We realized that we had a shared interest in jewellery and we quickly started making a new trend of jewellery called the ‘floating bead necklace’,” say the ladies. “We were able to turn this fun hobby of making necklaces into a business while selling to our peers at school and to a few local stores in the city. Before we knew it, we had ourselves a summer job selling to festivals and concerts across the province.”  

The girls started Foxy Originals in 1998 and upon graduation from the Richard Ivey School of Business, Suzie and Jen left corporate job offers behind to grow their company.

Their Story:

“We always had a flair for fashion and grew up making jewellery. We started our company at the age of 19, and our passion and vision was to make high style fashion jewellery accessible to young women. We saw that there was a need for fun and fashionable jewellery at affordable prices!” says co-founder Suzie. “When we first launched our reversible style of necklaces, it was a hit from day one. People loved that you could have two completely different necklaces for the price of one. We’ve always tried to make our jewellery as multi-functional as possible, creating more bang for the buck! We wanted to be the added spice to any outfit.”

Making It Happen:

Like many new businesses, Foxy Originals started small. “We sold a modest line of jewellery to friends and acquaintances on campus and in the summer took Foxy on the road to various outdoor festivals and concerts,” explains co-founder Jen. “Before we knew it, Foxy was all the rage. Buyers began to recognize our company and the innovative, affordable designs it had to offer. It wasn’t long before Foxy could be found in boutiques across the country!”

“We have also tried to get our jewellery on various celebrities that we see to be a fit with Foxy,” continues Jen. “Some of our list of Foxy fans now includes Sienna Miller, Nelly Furtado, Tori Spelling, Katharine McPhee, Lauren Conrad, Miley Cyrus and Hayden Panettiere. We’ll often promote these celebrities wearing Foxy to our retail stores.  As we all know, celebrities definitely help sell any product!”

Their Mission Statement:

“We believe that happiness, excitement and fun are the perfect accessories to a fabulous life! Foxy Originals embodies these sentiments and gives women of all ages the tools to make their own look-and lives-a little more fabulous,” say Jen and Suzie. “Foxy’s vibrant and playful designs give our customers a way to add some sparkle and shine, in an individual way that reflects their own distinct sense of style.”

Affordability is also a key part of the Foxy philosophy. The ladies are of the firm belief that high quality and high style don’t have to come at a high price. All of their products are carefully crafted and made with quality materials, all at prices that won’t break the bank. Their signature reversible necklaces are the perfect example of Foxy Originals’ commitment to value: with two sides to choose from depending on your outfit or mood, it’s like getting two fabulous pieces for the price of one!   

Underneath Foxy’s fun styles and affordable price tags, is a commitment to making products in a responsible way. “We ensure that all of our pieces are created in a positive work environment, adopt ‘green’ practices wherever possible and believe in contributing to the community,” shares Suzie. 

The Challenge:

Jen and Suzie have faced a number of challenges during the 12 years Foxy Originals has been in business. “I think the biggest surprise, at least to us, was that there was no one to go to get all of our questions answered,” shares Suzie. “Starting our business straight out of university, and having had previous jobs, we always had a teacher or boss to answer our questions. This taught us to be resourceful, creative and think outside of the box – definitely all important attributes to having your own business!

Another challenge for us is staying true to our initial Foxy vision we began with which included aspects of ‘the ideal work environment.’ Our goal is to have a team that is based on the principles of inclusivity, fun, openness and creativity. In a rapidly growing business such as ours, ideas we used to implement like ‘Work out Wednesdays’ sometimes gets ignored. Because we are so busy meeting our demand.  The challenge is remaining committed to our vision and keeping up those fun traditions during the busiest of times. There always has to be time to laugh. We took our staff to circus school on Foxy’s 10^th anniversary and it was such a memorable and fun experience for us all! If you can’t have fun doing what you do, then it’s time to switch professions.”  

Hopes For The Future:

Jen and Suzie hope to continue to promote Foxy in new markets. Today, Foxy is sold in hundreds of stores across Canada and the United Sates and is quickly expanding around the globe. They’ve recently begun working with distributors in New Zealand and Malaysia and have been overwhelmed by the amazing response from these new markets. “It always amazes us on how accessible it has become to sell our product around the globe,” Jen notes. “We are so proud that our Canadian made and designed jewellery is so well received in completely different markets around the world!”

Our goal is to continue to stay committed to all of our customers and continue to offer them fabulous and innovative designs!

Their Advice To You:

The original Foxy ladies share their tips for women who are just starting their own companies:

Don’t be afraid to spend money when you believe the return will warrant the risk.

Do what you do best and let others do the rest

Don’t take anything too seriously, or you won’t be able to make it though the rough stuff

Use your resources and never be afraid to ask for help

Thank anyone and everyone who helps you along the way

If an idea or thought gives you anxiety, that means you must approach it and conquer it

Complacency will be the death of your business.  Growth is the only direction you can take.

Always have a pen and paper handy, you never know when the next big idea may hit

Know your niche…it is tempting to seize all opportunities that come your way, but success comes from selectivity, knowing your strengths and sticking to them. 

This is a very impressive year for women in America. Women have finally surpassed men in the workforce!  Apparently this threshold already happened for women in Canada last year, therefore increasing the confidence for Canadian women even more so! So go ahead and follow your dreams, you can do it!

To fox-ify your accessories drawer, log onto www.foxyoriginals.com  

By guest writer Jennifer Martinez

Humans are natural predators. Although we have long abandoned our need to stalk and capture our dinner, people across the world are engaging in a new form of hunting – for bargains, that is. For frugal fashionistas, eBay has established itself as the Promised Land where Marc Jacobs merch flows abundantly, and the most vicious of bidding wars can be fought from the safety of your own couch.

As someone that has been involved with eBay for years, in both a buying and selling capacity, I believe that it is truly the best source for finding designer clothes at a fraction of retail price, scoring unique vintage treasures, or sourcing out-of-season necessities (like that impossible-to-find bikini in the winter). Despite this, many people I talk to are terrified of shopping on eBay, daunted by the overwhelming number of listings and horror stories of fraudulent sellers. However, a little time, patience, and creativity go a long way; there is no better feeling than receiving compliments on that hot new dress you just scored (the one that cost the same as your lunch).

Here are five tips for turning any budget-seeking girl into an eBabe:

1. Look for the diamond in the rough. The best deals are the ones posted by average people (read: those without their own eBay stores) who are just looking to make a quick buck. They’ll often underprice their gently worn items in favour of fast cash, which translates to an affordable pair of Jimmy Choos for you. Be wary of good lighting and stylish models (you’ll be paying extra for them), and don’t hesitate to contact the seller for additional photos if needed.

2. Break all the (spelling) rules. I once snapped up a vintage Christian Dior skirt for a mere $9.99, simply because the seller had labeled it “Christan Doir”. Search for as many variants of a name as possible. It also helps to search for words that encapsulate the garment’s feeling; for example, searching “Mad Men” will yield dresses with the tiniest waists and flounciest skirts.

 3. Look for the original. Many designers turn to eBay for authentic sources of items they can “take inspiration from” (i.e.: copy). I’ve sold many a vintage gem to fashion design companies, only to see the exact same item on the runway six months later. If you have your eye on a studded Alexander Wang bag that costs more than your rent, look for an original from the 80s – you’ll find it way cheaper and avoid the ubiquitous bag syndrome.

4. Do your research. Always check the seller’s feedback before bidding on an item – especially if you doubt the seller’s authenticity. Comments from previous buyers will clue you into their true nature. Also, avoid sellers with a score of less than 10, or a percentage of less than 97%.

5. Know your measurements. Forgo standard clothing sizes (4, 6, etc.) and instead focus on the item’s measurements. Besides checking out the usual bust, waist and hip measurements, be sure to look at the sleeve and skirt length. If you’ve fallen in love with something too large or too small, alterations are your best friend. High-quality garments often have generous seam allowances and hemlines, so they can usually be let out if necessary.

By Johanna Pigeon, Broker

Spring is here!  Now‘s the time to give your home a check up after the winter months.  Taking care of a few small maintenance items can help prevent costly problems before they exist and protect the investment in your home.  This will also give you the chance to take notes and budget for upcoming projects that will need attending to.  Many of these simple maintenance tips you can do yourself but if you don’t feel you are capable or have the necessary equipment, consider hiring the services of a handyperson.  

Clean the windows and screens and let the sun shine in!

Weatherproof the windows and doors

Replace the furnace filter

Maintain the air conditioner and have it inspected by a professional as recommended by the manufacturer

Clean and repair the eavestrough

Clean the clothes dryer exhaust and damper

Inspect the smoke and carbon monoxide detectors. Replace batteries

Inspect the roof for any damaged or curled shingles and any pooling of water on flat roofs.

Repair and paint decks, sheds and fences

Seal off any holes that small pests could call home

Clear up debris around the house and make sure nothing is blocking any vents or drainage

Inspect the chimney

Inspect and seal any cracks in the driveway and walkway

Inspect the foundation walls for cracks and signs of moisture

Inspect deck or surrounding wood structures for rot or pests.  If you are in a termite zone, a yearly inspection from a qualified company is recommended.