With fuel at an all-time high, many families are planning their summer activities close to home. In fact the popularity of this trend has spawned a new catch phrase - "Staycations". Some people are opting to renovate their outdoor living spaces to enable a 'retreat at home'. Others are simply staying in the city to entertain themselves, and parking their cars. For families with young children, this may be disheartening, since we all want to give our kids as many unique experiences as possible. The reality is that there are countless 'experiences' right in your own backyard. Here are some ideas to consider:

Museums / Historical Monuments - Most Cities in North America have some form of Museum or Historical Monument. The U.S. seems to have more of these per capita, but based on a wild-assed guess, there should be a museum/historical monument within 30 kilometres of almost everyone in North America. Even though you may have personally visited these locations many times prior, to your kids, it can be a fascinating place to learn and have fun. In London, we are lucky to have both a regular Museum, as well as a Children's Museum.

Nature Walks - Usually free, all you have to do is find a decent-sized forested location and jump right in. Your kids will treat this as a new and exciting adventure every time. Just make sure you are not trespassing, or if you are trespassing - bring running shoes for the whole family.

Picnics - although we haven't had one in a while, our kids always bring this up. Maybe we will do that this weekend.

Beach - We are truly lucky to live within 45 minutes of two major Great Lakes (Erie and Huron), which are home to many great beaches. The beach is always an easy sell for our kids, we have no trouble spending an entire day building sand castles and playing in the water. The only additional cost is the fuel to drive there.

Camping - You don't have to find the most secluded wilderness location to have a great camping adventure. You can simply put the tent up in the backyard, the kids will get just as excited. The additional positive to camping at home is that you are a couple steps away if the ferocious neighbourhood cat begins to stalk the kids.

Festivals - Many communities have seen a revitalization of Town Fesitivals/Celebrations which were extremely popular decades ago. These serve as a great source of entertainment and food, but also as a great way to get to know the other locals....

Remember the old saying "Sorry, we just can't afford it right now"? This common statement from my childhood seems to have died a quick death. When I was growing up, my parents, my friend's parents, my grandparents, pretty much everyone I knew would say this phrase at least once a week. It wasn't because they needed an excuse to not purchase an item, it was usually due to the fact that they could not afford the particular item. Instead they had already devoted their disposable income to debt repayment and savings. The priorities for most people up until the 90s (my arbitrary date) was: 1. Provide the necessities of life for my children, 2. Pay down any debts as quick as possible, and 3. Enjoy life in as simple fashion as possible.

These priorities began to unravel over the last two decades due to the availability of cheap and easy credit, as well as the constant reminder that your social status is linked to having everything now. Many people from my generation have fallen victim to the 'convenient lifesyle' that can quickly erode any wealth that a person may have. Here are some rules for recapturing the Art of Delayed Gratification:

• The Three Day Rule - this rule is simple, for any purchases over $100 (non-grocery), leave the store and don't return for three full days. In most cases you won't return at all, and if you do, the product will probably be well worth it.
• Check Online First - I check Kijiji and Ebay anytime we are in the market for Sports Equipment, Tools, Furniture, Appliances, heck I even looked into running shoes.
• Used Before New - Buying used makes perfect financial sense, let someone else take care of the up-front depreciation.
• Three Quote Rule - This is a common rule most home owners should follow when tackling a renovation, my logic for this one is that it will extend the period of time from quote #1 to project completion, which will give you more time to determine of you can eliminate some of the items in the quotes, which can save alot of money or tackle some of it yourself, which leads to the next rule;
• Tackle Yourself - If you want to save money and delay gratification, look no further than tackling a renovation project yourself. You will save alot of money and learn a new skill (your kid's will also learn your favourite swear words)
• One Credit Card Rule - My wife and I only use one credit card even though we are offered additional ones each week, this limits the temptation of easy credit.
• Bonus the Future You - For the past three years, my entire annual bonus has gone straight into my Group RRSP. This is a great way of giving the future you a leg up.
• Really Buy The Brand Names - Instead of buying those brand name items that everyone is wearing, research the company to determine if it is worth while to invest in the business itself. That way you can benefit from other people's frivolous purchases - just like the bank!

Our kids participate in numerous sports during the year, and the expense related to these activities can add up very quickly. One of the easiest ways to limit your expenses in this regard is to buy used equipment instead of new. Sports such as Hockey (we are Canadian after all), are very 'equipment oriented', and thus can require a substantial investment to outfit your child. Our son started hockey this past year at the age of five. Here is a list of the equipment and related costs incurred to get him outfitted:

• Helmet - Used (and safety certified) - $20
• Shoulder Pads - Used - Free (from colleague)
• Hockey Girdle - Used - Free (from colleague)
• Elbow Pads - Used - Free (from colleague)
• Shin Pads - Used - Free (from colleague)
• Gloves - Used - Free (from colleague)
• Neck Guard - New - $16
• Hockey Stockings - $15
• Skates - Used - $25
• Stick - New - $14

Grand Total - $90

At the first practice that my son had at the beginning of the season, I overheard another parent mentioning that he spent approxinmately $1,000 to outfit his son! This is obscene, if the child grows at a steady rate, most of his/her equipment will be obsolete every year or every other year. Especially at a young age, the fact that a child is wearing the latest in "Sports Technology" has absolutely no impact on his/her performance. Think of the additional cost over a typical 10 year participation in minor Hockey (not to mention the forgone compound interest).

Next time you look to outfit your child for their next sporting season, check ebay/kijiji/classifieds for suitable used equipment - you will save a huge amount of money, and your equipment budget will be a cheaperversion of it's former self!

Each and every day I try to come up with new ideas to help (trick myself) to save more and spend less. One of the most effective ways to spend less is to establish what I call a "Do Not Buy List". The purpose of a "Do Not Buy List" is to banish the idea of purchasing unneeded items from your monthly budget. It may be that you have a weakness for unhealthy or expensive items, such as fast food or expensive jewellery. By creating a "Do Not Buy List", you will think twice when you encounter that item in a store. It may not prevent you from purchasing, but it will reinforce in your mind that you do not really need the item, and subsequently may suspend purchasing the item in the future. To get you on the right track, here is a sample of items on our "Do Not Buy List":

• High Calorie Cookies - We don't buy them because I will eat them all within one or two days. The have no real nutitional value and are usually more expensive than other healthy snacks
• 24 Pack of Beer - I normally purchase either a 1.5 Litre bottle of red wine or a 12 pack of beer each Friday. This normally is enough for my wife and I for the remainder of the weekend. Since I am very 'task-oriented', if I were to purchase a 24 pack instead of a 12 pack, I would most likely drink it in one weekend. This means double the calories, as well as double the work that won't get done on the weekend.
• Newspapers - Ever since I was kid, I have always been somewhat of a news junkie. I can read three newspapers in a couple hours and enjoy every minute of it. But it today's world, all newsworthy items are available free via the web. Buying newspapers is unnecessary - save your money and the trees!
• Brand Name Food - We are constantly testing the cheaper version of brand name food items to make sure we are getting the best value for our money. Most of our cupboards are lined with 'No-Name' Brand items. Do a blind taste test, to make sure clever marketing does not overrule your palate.
• Brand New Cars - I refuse to purchase a brand new vehicle simply due to the high depreciation value as soon as you drive it off the lot. Don't be tempted by low interest financing.

These are just a small sample of itmes on our "Do Not Buy List", in my next installment I will add to this list. Please feel free to email me with items on your "Do Not Buy List"

What is the difference between a 65 year old person enjoying themselves at the cottage without having to worry about a pay cheque, and a 65 year old person working the night shift at MacDonalds? The answer is SMALL SACRIFICES. This may be considered a bold statement, but on average is very true. For the average middle class worker, the difference between a normal versus a stressful retirment is small sacrifices.

What are small sacrifices?

How about kicking that pack a day smoking habit - Based on $9.50/Day, you can save $285 per month - if you invest this money, over a 20 year period at 8% compound interest, this small sacrifice amounts to approximately $165,000!

How about having coffee at home instead of Starbucks - Based on $1.50/Day, you can save $45 per month - if you invest this money, over a 20 year period at 8% compound interest, this small sacrifice amounts to approximately $26,000!

How about no name food brands instead of 'brand names '- we have done this and saved about $120 permonth - this amounts to approximately $70,000 over a 20 year period!

These are just a couple examples of small sacrifices which add up to huge bonuses for your wallet. Other examples are buying Used instead of New, or spending that tax refund (pay down debt or invest it in your RRSP).

Can you make all your small sacrifices immediately ? Not Liklely, but it is possible to break one habit at a time - try the big ones first to get the ball rolling, you may have an extra million at retirment. These small sacrifices could mean the difference between spending your winters in Florida and asking a customer if they would like to Large-Size their combo. Be a Cheap Bastard!

An Outvestment is anything which begins to depreciate from the date of original purchase. In other words – it loses its value. Although some Outvestments are necessary for daily living, many Outvestments are a huge waste of money. Here is my short list of Outvestments to stay away from:

·     Boats – owning a boat can be very glamorous but only for a little while, then the bills start coming – dock fees, maintenance fees, insurance, repairs and fuel. The funny     thing with boats is that they are usually purchased by people who have finished raising their kids – thinking that their big expenses are behind them. The expenses and     depreciation that can result from a boat purchase can sometimes add up to more than the cost of raising a child. How’s that for status symbol. Boats are Outvestments,     Don’t Forget It.

·     Cars – For most of us, owning a car is essential. It represents freedom, flexibility, convenience and in some cases – ‘status’. If you eliminated all the frivolous reasons to purchase a car, many of us would be driving a Honda Civic, or Hyundai Sonata instead of the latest BMW. If you have truly ‘made it’ and don’t have to finance a vehicle, please ignore, but if you have to borrow to purchase a new vehicle – please remember the real utility of a car. That is, to get you from Point A to Point B. Don’t fall for Brand Infatuation. Cars are Outvestments, Don’t Forget It.

·     Tools – As an average Homeowner you don’t need industrial grade tools to build the deck in your back yard! Many of us watch Home Improvement TV shows that show you the proper way to renovate, construct and improve. Likewise, many of us sub-consciously believe that we cannot accomplish the projects we watch unless we use the same brand of tools that the hosts use. You can get by with middle of the road tools which may cost you less than half of the price of these brand name tools. Keep that extra money in your pocket.  

These are just some of the many Outvestments that exist in our lives. I am sure you can think of many more. If you can think of any other Outvestments, please email me at info@cheaperversion.com.

We are a family of six. It is expensive to go almost everywhere! Although attractions, accommodations and meals are not as affordable as we would sometimes like, little changes can make the difference. I have compiled a list of tips you (and I) can use to lessen the financial blows of those family outings:

1.  Utilize Reward Points – My Preferred rewards card is Air Miles. Although this may not be the most efficient rewards program. It has allowed me to cover the expense of tickets to the Toronto Zoo and Canada’s Wonderland for our entire family for the past 4 years. Air Miles offers an extensive catalogue of rewards such as hotel accommodations, concert tickets, and tickets to sporting events.

2.  Travel With Budget Minded People – Okay, so this is easier said the done. The first priority if travelling with another family is to be able to enjoy their company, the next priority should be to travel with fiscally conscious people. This especially rings true when kids are involved, if parents with less budget constraint allow them to get whatever they want, the more intense the pressure for you to give into that pressure.

3.  Travel During Weekdays – Subject to availability of vacation time, it is much cheaper to travel during weekdays. As a prime example, The Great Wolf Lodge (link) drops their rates as much as 50% beginning on Sundays and Weekends. This is also a great way of avoiding long line-ups!

4.  Pack A Little – On your next ten family outings, make it a point to pack snacks, sandwiches, wraps etc. in each successive trip. Once, you are used to packing and travelling with this food, you will begin to realize the amount of money “outvested’ in fast-food restaurants. Your body and wallet will thank-you.

5.  Try Camping – Although neither my wife were not raised as campers, camping is one of the most affordable ways of travelling. In addition camping allows you to disconnect with the outside world. As a person who is very rarely without a blackberry in my pocket, camping, in its simplicity, reminds us what is important – your family.

6.  Your Mode of Transport – Although I am not a big fan of flying, most airlines these days offer great deals especially when the flights are not direct. It is important that you really look at the cost of driving compared to flying. Also, flying allows you to enjoy your trip sooner! For those of you in Sothern Ontario, make sure to look outside our borders for flights, both Buffalo and Detroit offer great deals when flying in the United States and the Caribbean.

7.  Beaches are Free – You don’t have to go the latest and greatest family attractions to keep your kids happy. Sometimes the cheapest trips are the most enjoyable. Consider, as an example, the beach. Anytime we take our kids to the beach, they have a blast for 5 – 6 hours. Remember the most important thing to your kids is that you are together as a family.

8.  Hotels are for Sleep– If you have to stay at a hotel, stay at the economical ones. Hotels/Motels such as Travelodge, Comfort Suites, & Motel Six all maintain a great level of cleanliness and have what you need most – beds. Always keep in mind the reason for a motel/hotel, to provide a place to sleep while away from home.

9.  Combine Business with Vacation – Although it can be cumbersome, piggy-backing a family vacation on a business trip can provide relief for your wallet and create some great memories for your kids. When I was a child my Dad always used to include our whole family on business trips. Some of the best memories as a child were on these trips. The hotel room is the same price and the travel expense(if by car) is normally picked up by the company. In addition, a lot of companies pay a per diem for meals, by eating cheap – you can make that $75 or $100 last longer.

10 Research – We all have a friend who manages to find deals everywhere they go. This isn’t due to luck, it is due to proper research. When planning a trip, make sure to search for alternatives which may save you significant dollars. When searching for alternatives, look to Cheaperversion.com first!

1   Visit History Rich Cities – Combine education and enjoyment. Many cities in the world are full of rich and storied histories. You can buy simple walking maps to give you a cheap itinerary and full history lesson. Some of the best cities for this are Quebec City, Washington D.C., Boston, Dublin etc.

1   Get a Great Boss – I am lucky to be employed by someone who has trusted our family with the keys to a beautiful ‘cottage estate’. In the last six years, we have been able to stay at this beach front estate a total of 6 weeks. In those six weeks we have shared some great memories which are kids will keep for a lifetime.

Thanks for visiting our site on our first day of service to you!

The purpose of this site is to provide timely information to allow you to make better (and cheaper) consumer choices in your everyday life. Through our daily blog and our consumer review section (Cheaper Versions), we will point you in the right direction to save money and build wealth.

As a matter of necessity (we have four young children), we recently decided to start to focus on our personal spending habits. We have set defined personal financial goals, and realized that if we continued at our current pace, we would always be adjusting these goals – potentially years into the future. We live a fairly simple life, we don’t travel often, we don’t eat out often, and we don’t have any fancy clothes to speak of. With that being said, we quickly identified areas to improve our net cash flow during the month, such as:

·         The Everyday Things – We (as consumers) often overlook the items that we purchase most often when it comes to budgeting. Groceries are a prime example of this. At the beginning of our budget “introspection” we quickly identified that almost every normal ‘grocery’ purchase had a much cheaper alternative – without sacrificing quality and taste. The savings realized in just one month will surprise most of you. This will be one of the most important focuses of cheaperversion.com. Through our blog and our review section (Cheaper Versions) we will identify viable alternatives  that will save you money and satisfy your hunger at the same time.

·         Snob Value – Although many definitions of “Snob Value” exist on the internet. My personal definition is “….buying a name instead of a product”. Although many Products build their brand name due to quality, many products have built their brand names and high prices due clever marketing and the pervasive disease called ‘peer pressure’. We have all fallen victim to both ‘peer pressure’ and ‘snob value’ at some point in our past, and we will ultimately fall victim to it in the future. To illustrate the absurdity of “Snob Value”, I was recently speaking to a friend of mine who informed me that she asked for, and received a a pair of $240 jeans for Christmas. I asked her if the jeans were made of a precious metal or had been owned by celebrity at some point – the answer was a puzzled look. The real reason for the hefty price tag was that the jeanscarried the name of a famous “Name of the Day”. She has worn the jeans twice in the past two months…… Through Cheaperversion we will provide you with alternatives to these Brand Names, again without sacrificing quality. This will range from alternatives on the wine rack to alternatives in the driveway. We are going to help you, and you are going to help us rid the existence of Snob Value through Cheaperversion.

·         Outvestments – These are ‘investments’ that depreciate. A common example of an ‘outvestment’ is our four wheeled friend – the automobile.  Every day, the North American consumer forgets the actual purpose of the automobile – to get from one point to another point. By forgetting this important fact, people decide to use cars as ‘Status Symbols’ and perpetuate Snob Value (see above). The grave problem with this is that most of us cannot afford to purchase a vehicle with cash – we need to finance the purchase. This further exacerbates the problem – it significantly adds to the ultimate cost of the vehicle we shouldn’t have purchased in the first place. This is just one of the examples of ‘Outvestments’ which exists in the world today. Through Cheaperversion we will continually explore alternatives to these poor judgments (for both new and used purchases).

·         Buying New – I recently purchased an elliptical machine for $500, to pursue my personal health goals (see healthierversion.com). Although this may seem like a lot of money, the retail cost of this machine was $1,900 and had been purchased initially six months earlier. The seller said they used it about twenty times (her husband said it was about three times). I have made similar purchases within the last year and have realized significant savings. We are now committed to checking for gently used or ‘seconds’ prior to making any purchases over $100. Through Cheaperversion, we will politely push you to try and open your world to this option. This will not only help your bank account, it may help to prolong the lifecycle of many products – which can help reduce our impact on the environment (see www.greenerversion.com)

The above are only a few examples of the content you can expect from this point forward on Cheaperversion. We invite you to register as a Cheap Bastard and begin to contribute your selections in additions to the ones we find on the shelves, the menu, the internet etc.. We appreciate any feedback you can provide in order to make this site a success and a sustainable business, so feel free to send us your thoughts – Contact Us

We are taking a holistic approach to improving our financial results for the long term, as well, we are also committed to helping to reduce our impact on the environment through our sister site Greenerversion and living a healthier lifestyle through Healthierversion.

Leanne & Chris