Million Dollar Journey

Questrade Democratic Pricing - 1 cent per share, $4.95 min / $9.95 max

Building Wealth through Saving and Investing

New Years Eve = Expensive!

In the past, I worked during New Years Eve but this year i’m free to do what I like. So what am I going to do? After scoping out the local scene, i’ve noticed that any entertainment that night is WAY overpriced! Restaurants who usually charge around $20/person now charge upwards of $50/person. Tickets to bars/clubs that include food and some champagne upwards of $100/person! Seems like a waste of money in my eyes, or perhaps i’m just cheap. :) So, what are some of options so that I don’t feel like i’m being ripped off? Here are some of my ideas:

  1. Prepare a nice meal at home for my wife and I. This will save us around $100.
  2. Instead of going out to an overpriced bar for drinks, we may head over to a few house parties that we were invited to. I don’t drink much and my wife doesnt’ drink at all, so this will save us around $20. We will most likely drive to these parties, saving the taxi fares which would be approximately $50.
  3. And at the end of the night, we may head downtown to see the fireworks, which is free!

So I can potentially save around $170 on New Years Eve. In my eyes, saving $170 is the same as working for $240 (b/c of income taxes)! That $170 can be put toward better uses like a Charity Donation (i’ve given $540 in 2006) or an iPod Nano. ;)

    I plan on having fun, but saving a few dollars at the same time. What are your plans for New Years?

    No matter what your plans are, be safe. I’ll see you in the New Year.



    One Comment, Comment or Ping

    1. That’s a very good point … it might not be for everybody, but we’ve decided to party out another night and instead we stay home with my wife’s grandmother to celebrate. We’ve been doing that for a few years and she’s loving it :-) Different people have been joining us over the years and we’re starting to make this into a real house party anyway with all the hats and sparkling wine :-)

      Trackbacks

    Reply to “New Years Eve = Expensive!”

    Subscribe without commenting



    Premium Sponsors



    Recent Comments

    • Brian Poncelet,CFP: Hello Georgi, It sounds like you may own a UL policy with the excess invested in the market. As...
    • KK: Hi FT, Would you please update the table with the 2010 numbers? Thanks!
    • Tareq Morad: I think this is a well written article and i can appreciate the value in exposing common mis-conceptions...
    • Ed Rempel: Hi Brian, It’s too bad you seem to have lost faith in the stock market. It is the asset class with...
    • Amit: The Demand Drafts are not free in ING. They charge $10 per demand draft and courier it to you. If you need a...
    • Michael James: @Ed: A correlation of 33% does not mean that the two quantities move together 33% of the time. A...
    • Ed Rempel: Hi Odds, Michael described it well. A 33% correlation is common in many factors. It is a scale between -1...
    • Amit: I usually don’t keep any cash in my RRSP Trading account. I use Tactical Asset Allocation, so the moment...
    • Ed Rempel: Hi Michael, You linear correlation comment would be accurate if you compare the economy to the stock...
    • Ed Rempel: Hi Germack, That’s a great explanation of reason #1. The market prices in high economic growth. This...