Tag Archives: finances

February 26, 2023 · 8:07 am

The Case of the Missing Transaction Registers

Transaction register bookletsA while back, while running my socially-distanced, masked, sanitized errands, I stopped by a nearby bank branch with a simple mission: to obtain a transaction register.

For those who might not be familiar with what that is, a transaction register is that little booklet you slide into your chequebook holder, to keep track of your deposits and your withdrawals.

I realize that I am probably dating myself with that statement since cheques, chequebooks and chequebook holders might not be household names in many households anymore.

The fact is that cheques are losing popularity (in Canada, anyway), in favour of credit cards, debit cards, eTransfers and automatic withdrawals. I think it would be safe to say that during the pandemic when physical forms of payment were discouraged, the adjustment to contactless forms of payment may have accelerated the inevitable.

Just the same, there are occasions when a cheque is still the more convenient or practical payment option. This 2018 article from the Ottawa Citizen explains more on the topic:

https://ottawacitizen.com/news/local-news/cheques-are-both-down-volume-and-up-value-in-canada

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August 21, 2016 · 10:58 am

Electronic Transactions, Missed Opportunities?

There is no disputing that direct deposits and pre-authorized withdrawals have made personal finances much simpler.

Even if I am on vacation or feeling under the weather, it no longer matters if I am in the office on pay day. The money shows up in my account and shortly thereafter, the money comes out for the mortgage and utilities. (Easy come, easy go!) It is certainly convenient and saves me from standing in line to go pay the bills in person.

But in adopting this convenience, have we also phased out unique moments of joy? Are we missing out on moments to enjoy the fruits of one’s labour, the satisfaction of a job well done, and the incentive for why we work to earn a living?

Do you remember the thrill of your first job and getting paid for the first time? That was a feeling of power, wasn’t it? And do you remember the fleeting sense of financial independence and going to spend it on pizza, clothes, shoes, camera gear and journals… or maybe that was just me.

But the point is that there was a natural ebb and flow to earning, saving and spending. Receiving a paycheque was validating, rewarding and made me feel like I really made a contribution. The ritual of walking up to a teller or a bank machine and depositing this piece of paper that was the result of two weeks of blood, sweat and tears actually made me happy. It was also a motivator.
But now, with direct deposit and automatic withdrawals going on autopilot, I barely remember what week is pay week anymore.

A fond memory from the early years of my career, working as an assistant, was when the secretary was not in the office, I would be the one tasked with distributing the envelopes containing the paycheques. The warm reception and the smiles on people’s faces were something I will never forget. I even remember thinking to myself that this is what “spreading sunshine” is all about, making people happy like this. Continue reading →

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April 10, 2016 · 12:01 pm

Would I Come Back As a Contractor?

Revolving DoorAs the countdown to retirement marches on, surprisingly, the question of whether I would consider coming back as a contract employee comes up at least once per month. The question always makes me smile.

Given that retirement for me is still a few years away, I find the best answer to the contracting question is something along the lines of “Thanks for the vote of confidence! We’ll see when the time comes.”

First and foremost, I take it as an amazing compliment. I know I worked very hard to build a solid career based on quality work, strong ethics, working well with colleagues and maintaining a positive attitude. To me, the contractor question is one that fills me with validation and gratitude.

Over the years I have seen many of my colleagues retire and then come back a few years later for short contracts, sharing their vast corporate knowledge and expertise. It is always a pleasant surprise to see their smiling faces and renewed energy at meetings. Parenthetically, I wish they would stop looking so darn refreshed after a few years away from the office. It makes me very envious!

However, I think it is very natural to dream and fantasize about a time when I can truly reap the rewards of a retirement that I worked a lifetime to build. I look forward to the sense of complete freedom where going to bed promptly, getting up with the alarm, dealing with traffic, and commuting in heavy snow or freezing rain become optional. I look forward to having choices I can make, purely in the moment.

To me, my first priority when I decide it is time to retire is to do just that: enjoy the fruits of my labour: Continue reading →

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