O Canada!

Canadian LoonieWow.

This morning, the Canadian dollar opened at 108.17 cents US, up 0.99 of a cent from Monday’s close. The U.S. dollar stood at 92.45 cents CDN, down 0.85 of a cent.

As a proud Canadian, that puts a smile on my face.

At the same time, as someone who lives in the States and intends to long term, it makes me a little uneasy. In the grand scheme of things, it’s probably not a good thing when the pendulum swings this direction.

But again, on the upside, it makes it even nicer when co-workers toss their “worthless” Canadian change my way. Oh, if they only knew.

Too bad it’s so difficult to exchange Canadian change at a US bank… though if the exchange rate gets much higher, I just may have to stop in and ruin an unsuspecting teller’s day!

Posted on November 6th, 2007 at 9:54 am by Brainy Smurf
Current Events | No Comments »

Making Your Mark?

Slim GoodbodyFrom an article in Forbes last week by Steve McGookin:

With the changing nature of today’s workplace–and workforce–it’s a fair bet that there are plenty of questions you ask every day that maybe your parents didn’t.

One of them might be: “Is my tattoo holding me back as I climb the corporate ladder”?

And perhaps unsurprisingly, the answer is: It depends where you work.

My answer? Well, it certainly won’t help you climb the ladder.

With surveys indicating that anywhere between a quarter and a third of all Americans under 40 now have some form of body art–what the Pew Research Center calls the “Look At Me” generation–the adornments that traditionally marked a rite of passage have increasingly become part of society’s mainstream. A 2003 Harris poll also showed that roughly the same percentage of men and women were being tattooed.

But is body art still frowned upon in the workplace? And does it work against you from a career perspective?

Obviously company policies will vary, as will office dress and appearance codes. According to a study a few years ago by CareerBuilder and Vault.com for Salary.com, 42% of managers interviewed said that their opinion of someone “would be lowered by that person’s visible body art.”

Yet about the same number of managers, 44%, said they themselves had tattoos or other body art that was not “visible.”

I love the double standard of the “Look at Me” generation. I’m a professional by day, wannabe tramp/ex-con by night. It’s almost laughable.

Attitudes will depend on your industry and on your company. The popularity of television shows like Miami Ink and its subsequent spin-off, L.A. Ink, as well as the prominence of body art among sports figures, singers and other entertainers have meant a wider ubiquity and acceptance for adornments.

So fields that encourage individuality and creativity, clearly, will be more open to personal expression. But in an environment where conformity is frequently the norm, especially in many client-focused workplaces with a high level of interaction with the public, you’d expect corporate policies to be somewhat more restrictive.

Companies have to decide what image they want to present, both externally and internally. Where they draw a line is often what they consider “offensive.” So as well as the industry and employer, acceptance can also depend largely on the art itself.

The key word seems to be “appropriate”–but it seems more true than ever that there is a tolerance in the modern workplace for personal expression through discreet body art, particularly, according to the American Society for Dermatological Surgery, where no one sees it if you don’t want them to.

“A good tip is to place it in an area that can be covered by clothing traditionally worn in the workplace. For example, a belly button piercing can easily be covered but shown off if you wish, whereas an eyebrow piercing can not.”

What if, for whatever reason–career-related or not–you experience “tattoo regret”? According to the American Academy of Dermatology, it’s not unusual for a removal process to take several sessions and cost anything up to 10 times what you paid for the original artwork. Surveys seem to suggest that in many cases removals or amendments are because of someone’s name.

Businesses like Dr Tattoff or Rethink Your Ink offer increasingly sophisticated removal techniques.

And with the growing numbers of outlets–there are now more than 20,000 parlors in the U.S.–tattooing itself is an expanding career area. You can find some tips on getting into the field and improving your skills at ExpertVillage, which–since like any other art form it’s obviously better to see than be told–features a series of videos by Arizona-based artist Rick Wycoff.

So if you’re thinking of becoming one of the many Americans every year who get a new tattoo, how your boss will react–if he or she ever sees it–is just one more thing you’ll have to think about. But, of course, the chances are if you have a tattoo already, it’s unlikely you’re going to feel any differently about it by being told it might hamper your prospects.

I dunno. Even in my 30+ year lifetime, the amount that society has spiralled downward is a little frightening. Earrings on men, make-up on men, plastic surgery for everyone, coloured hair, mohawks, facial piercings, facial tattoos, botox, cross dressing, sex changes, etc…

Really, if you think about it, guys like Boy George and Mr. T were way ahead of their time. They’d be accepted now as “normal” everyday folks. That’s downright hilarious.

In some ways though, I do look forward to the day I have to take my children to swimming lessons so I can see the regret on the faces of all of the aging parents with huge angel wings on their backs… All I’ll have to be embarrassed about is a farmer tan and maybe a little extra weight.

On the brightside, maybe the next Slim Goodbody won’t need to wear a spandex body suit! Wouldn’t that be a sight!

Posted on November 5th, 2007 at 12:27 pm by Brainy Smurf
Rants, Retro | No Comments »

Britney Spends Big & Saves Nothing

Britney SpearsFrom an AP story last week that puts things in perspective:

The pop princess is a big spender.

Court papers released Thursday in Britney Spears’ custody dispute with Kevin Federline show she spends lavishly on clothes and entertainment and doesn’t save or invest any of her roughly $737,000 monthly income. Spears’ monthly expenses include $49,267 in mortgage for two houses, $16,000 for clothes and $102,000 on entertainment, gifts and vacation, her financial declaration shows.

Although she’s often photographed eating fast food, Spears declares she spends about $4,758 per month dining out. Meanwhile, she spends zero on education, savings and investments and gives $500 a month in charitable contributions, the documents said.

She has to pay her ex-husband $15,000 a month in child support and $20,000 in spousal support. Spousal support will end Nov. 15.

As for Federline, his biggest monthly expenses include $7,500 in rent and $6,000 in security, his financial declaration shows.

The dancer-turned-rapper has a comparably modest monthly budget for clothes – just $2,000. He also spends about $5,000 on entertainment, gifts and vacation, and $1,500 eating out.

Federline, earned more than a half-million dollars in 2006, mainly from entertainment and endorsement deals but grossed only $7,436 that year. He receives $15,000 a month in child support.

It blows my mind that someone from such humble beginings, and someone who didn’t exactly “fall” into the money suddenly, is so careless with their wealth…

Seriously, you have to wonder who her agent is, or was, to not advise her to put a little aside for when her career comes crashing down. I mean, she must have nearly 16 years left of those child support payments — a cool $2.8 million.

There is a bit of an unfair negative slant to the story though…

Her $4758 per month dining out budget sounds really high, but if you divide that out, it works out to around $52 per meal. Yeah, that’s a lot, but even I’ve had a more expensive meal than that from time to time. For a “star” with an income that high, I don’t think that number is real out of line or even irresponsible.

The clothing budget doesn’t seem too crazy either. Okay, yeah, for me, my yearly clothing budget is likely under $500, but I’m in a position where I can get away with wearing the same pair of pants 3 days per week. That, and my pants aren’t custom made to fit my butt. I’d imagine that’s not cheap.

I also wasn’t too keen on how they threw in the “gives $500 a month in charitable contributions” line in there like it’s a bad thing.

I never like it when people are made to feel guilty for not giving to charity. Or giving a small amount, To each his own. But I would guess that $500/month is a lot more than your typical American. I’m not going to fault her for that.

But c’mon Britney… You have to invest something?!

(And in some ways, you need to give K-Fed some credit. He could live lavishly for the rest of his life on the child support checks alone…)

Posted on November 4th, 2007 at 9:47 pm by Brainy Smurf
Current Events | No Comments »

I Can Afford What?

This can be yours… for $816 per monthOn the “Your Money” message boards over on MSN Money, there has been a “Please Explain how Folks Afford these Homes” discussion going on for the past few days.I, myself, often wonder that exact same thing. You know, seeing people, even a few years younger than me and my wife moving into the new developments full of McMansions with 3-car garages, finished basements, and 30 foot ceilings in the entryway. Where did I go wrong? Did I make a wrong turn somewhere?

Once you make your way through the typical “Get a better job” or “Move somewhere cheaper” comments that some of the knuckle-draggers over there post in every single thread, there are some pretty decent real world examples among the responses.

One of the eye openers for me was that a number of people whole-heartedly agreed that, for instance, “a $267k home on a $100k income is quite affordable”.

Um… it is?

My first response to that, and a few other posters mentioned it as well, is that after taxes, a $100k income is really only around $60k. On top of that, where I live, insurance and property taxes add an additional $500-700 to the mortgage payment every month. For the fictitious $267k home, that just doubled the mortgage payment.

Among the reponses:

The payment for a 200k loan @ 6.5% is $1264/mo. You can’t afford that at 100k/yr? What else is going on?

I agree, with an income of $100k, you should be able to “afford” a $300k purchase, with about $250k mortgage (about 2.5 x your salary)

Am I crazy? Or are these folks crazy? Are the 20-somethings moving into these beautiful houses the crazy ones? I’m really confused.

On thing I will say is that, even with a combined income over $100k, my wife and I never even would have considered looking at homes in that range. No way. Not a chance. Why?

We can’t afford it.

I see that, “2 and a half times your salary” line thrown about from time to time when it comes to shopping for a home. I’m glad I didn’t take that seriously when I bought the house we live in.

I’m also glad that I had an honest mortgage agent that informed me that just because the good faith estimate says it’s only $816/month, when you get the first bill in the mail, expect it to be double that… cause it was.

On the other hand, the discussion on the message board got me questioning my own expenses…

I mean, your mortgage is supposed to be your biggest monthly bill by far, right? Ours, well, it isn’t.

Don’t get me wrong, it accounts for a large percentage of our monthly income, but could we afford a mortgage that was, oh, say twice as high?

I suppose we *could* do it, but why on earth would we?

I’ve come to the conclusion that I’m not crazy.

And I made one of the wisest decisions in my life inadvertently. Hooray for me!

Posted on November 1st, 2007 at 3:41 pm by Brainy Smurf
Mortgage, Rants | 1 Comment »

November 2007: Quest for $1,000,000.00 Dollars

November 2007 Status

Nothing terribly notable this past month.

My assets remained relatively flat while my debts kept pace in the right direction resulting in another “positive” month.

The Government Bonds were the big negative this month — I cashed out all that I could earlier this month because the money could serve me better elsewhere.

Where’d it go? Well, it got me ahead on my mortgage again (next payment is due in January) and it knocked off some of the credit card debt.

And speaking of credit card debt, I ending up throwing well over $2k towards the debt hoping to really get a good jump on knocking out one of the cards before the end of the year, but the unexpected expense of the hard drive crash swallowed up any of the noticeable drop.

That’s okay though. Under the new plan, November’s looking pretty good already.

Posted on November 1st, 2007 at 11:17 am by Brainy Smurf
Finance, Net Worth Updates | No Comments »