Posted in finances, Home

Adjusting to life as a housewife

So turns out being a stay at home wife really isn’t easy. For one thing, I’ve completely lost my independence. At this point, I’m kicking myself for agreeing to go on no-paid-leave. I’m also regretting not taking more active control of my money while I still had an active income. Don’t get me wrong. My husband isn’t being a tight-wad or anything. But he’s a car salesman. And car sales are not doing well. Everyone is waiting for the big recession. But my optimist of a husband still thinks things will turn round. Sigh. In the meantime, he’s spending like its still the 90s. Added to that, he has a stay at home wife who doesn’t know how to cook, or clean. Its a mess. Its a good thing he’s a strong believer that love will fix everything.

I do too. To a certain extent. But on the more practical side of things, I realise that we need to learn how to budget. And how to stock away some savings for when things go south. He’s being really sweet and has really really cut back on his expenditure via buying all those CDs (*groan* who still LISTENS to CDS??? My husband apparently) but I got him hooked on Starbucks coffee (*oops*) and I’m having a hard time weaning him off it. We have both tried to start cooking more but my lack of cooking skills is a huge impediment.

In the meantime, we both got talked into (well, by we, I actually mean ME) into buying a whole life insurance policy. I know, probably could have made a more prudent move through other more active means….but I suck at money. And even though the overall fees are high, and in the long run, we probably can make more by other means….but I think this is a good step towards making us START saving.

I also started a stockpile account for us. Each trade is $0.99 which is way cheaper than the CapitalOne Investing account that I have languishing (in case anyone is wondering what I want for xmas…*cough*). I also started a M1 financing account for us as well since for the first year, they manage your money for free using roboadvisors (well, not completely free since the fund have management costs, etc but that’s true even if you sign up with vanguard, etc) and then they put your money in these portfolios that they choose so you have a diversified investment (Stockpile lets you buy fractional shares in individual stock) but there’s a minimum starting investment of $100 (we are saving up the $100 to get started) and then a WealthSimple account because they will manage $5K for free for the first year, have giftcard offerings (*ahem*) and require $0 minimum to start with autodeposits (I’m starting my husband off on $5 ‘cos I mean, he’s not going to notice $5 coming out of his account every month…). If you click on my link, I think you help me get $10k managed for free for a year (which let’s be honest, I’ll never use since I doubt our investment will reach that high with just $5 going in each month) but you get the $5k for 1 year (and more if you get others to sign up as well).

Anyway, I think that’s the plan for now. $5 a month into WealthSimple, $5 a month into Stockpile. Slow steady investments. Not much, but then again, this to me is a means of building up an emergency fund. What do you think?


I've been swinging from place to place looking for new adventures every day.

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