Advent Financial Calendar Box Day 2 – A TFSA
For your Financial Advent Calendar, today’s box has a slip of paper in it:
Day 2: Investigate and open a TFSA account tomorrow. Also, always buy 2 wax rings.
Sort of a Financial Christian Fortune Cookie. Open one for your wife as well! The Tax Free Savings Account is now the bedrock of most Canadian financial plans, so start early!
The TFSA has replaced the RRSP as the go-to savings vehicle for most Canadians. Do you have one? If you open your first one in December, you will receive this year’s savings allowance; in the new year, you will also receive that one!
Plumber Talk
Many years ago, Mrs. Caj and I discovered that our upstairs toilet’s wax gasket was not working, and thus, it was leaking. We decided that this was a home repair project we could tackle (we have done it before). We have the Time/Life book of Complete Home Repair, which explains how to fix this problem, so I went to the Hardware store and picked up two wax ring gaskets (or flanges).
Always Buy Two?
Simply put, I know my inability to do anything correctly (regarding home repair or improvement) the first time. I usually succeed on the projects I attempt (I don't try things I know I can't do), but I usually mess it up the first time, so I have learned the importance of buying backup parts for the project.
This home repair would have cost well over $100 if I could have found a plumber that would have come in on a Sunday, but in the end, it cost me $13 (for both flanges (wax rings)). It also needed to be done, given the toilet is on the second floor of our house, and this kind of leak can really mess up the central floor ceiling and possibly compromise the home's structural integrity (water damage to trusses). We also replaced the toilet flapper, which caused water to leak, which cost me money (water bill).
My wife and I were also still talking to each other afterward (we occasionally quibble about this kind of project).
Wax rings and TFSA? Varied topics on the site today!
Personal Finance Advent Calendar
- Advent it Begins Again!
- Day 1: Running Shoes
- Day 2: TFSA
- Day 3: A Safety Deposit Box
- Day 4: What is in your Safety Deposit Box?
- Day 5: Your Will in a box
- Day 6: A Credit Card Bill
- Day 7: A Pointing Finger (Points)
- Day 8: A Lamb
- Day 9: Your Child's Diploma
- Day 10: A Cane
- Day 11: A Home Inventory List
- Day 12: A Bank Passbook
- Day 13 (new) A Puzzle Piece or Day 13: A Pair of Tiny Shoes (budgeting)
- Day 14: A Stock Certificate for ACME Buggy Whips
- Day 15: A Kettle (Charity)
- Day 16: A Coffin
- Day 17: A Scroll of Household Fix Ups
- Day 18: A QR Code -or- Day 18: A Wii Fit
- Day 19: A Library Card
- Day 20: A House Plan
- Day 21: A Feather
- Day 22: DVD of the Shawshank Redemption
- Day 23: A Tuning Fork
- Day 24: A Happy Face
- Day 25: Merry Christmas
Oh no! I hate when stuff like that backfires.
In positive news you just convinced me to sign up for a TFSA account before the holidays eat up all my free time. I won’t be able to use it until January 1st, but it will be there waiting for me when I do get to use it.
Before reading the comments, I was thinking you could return the unused gasket. Now I see that we were not given the whole story.
You’re brave to have tackled the project. We replaced a showerhead with a more efficient model. It leaks …
Uh oh…
Well the story continues… yes I needed the second gasket and maybe I should have mentioned the loud BANG when the water was turned back on. Think we might need a plumber now.
So did you need the second gasket after all?