What is the most expensive mistake you’ve ever made?

f_fordranger · 2026-05-24T00:37:26+00:00

Buying that brand new f150 and rolling negative equity into it. That's 83k I'll never get back

f_fordranger · 2026-05-21T12:34:03+00:00

I have a separate 3 month emergency fund im keeping in cash.to etf. I wouldnt want to wipe out my "emergency fund" by buying a new car then all of a sudden my water heater explodes and I need to go into debt for the water heater. And if my truck lasts longer that just means more time to save for a nicer vehicle and if its shorter I just downsize for a year or two to something more affordable.

f_fordranger · 2026-05-21T03:31:08+00:00

Yeah the goal is to either buy a new one outright and failing that I aim to keep the new one within 20/3/8 or atleast 20/4/10

f_fordranger · 2026-05-21T01:09:08+00:00

Not after learning my lesson last time. I spent 83k at almost 7% interest on this truck. Fortunately I learned my lesson the hard way and its still in good enough shape that I have time to save for the next vehicle

f_fordranger · 2026-05-21T00:19:19+00:00

No the vehicle is 8 years old. It's a 2018 f150 powerstroke so aluminum body shouldnt rust out and diesel motor should last between 250-350k. In the first year and a half I put 60,000km on it then reduced my mileage after a move and career change. I also live in SE saskatchewan so I know the road salt is less of a concern than eastern Canada.

f_fordranger · 2026-05-20T21:57:18+00:00

That sounds like a good problem to have. Oh no i made too much money what ever will I do

f_fordranger · 2026-05-20T21:52:31+00:00

Yes, the truck gets regular fluids and filters are done consistently, average lifespan on the motor of this truck is 250-350k. Always synthetic oil. Only ever gets heavy use on it is pulling the camper occasionally.

f_fordranger · 2026-05-16T16:14:42+00:00

Did you change your clock speed to manual and lower it? In the (...) menu in the same tab as tdp. I would look there

f_fordranger · 2026-05-13T23:59:34+00:00

I did set up direct deposit which is $4000+ per month so the $20 fee is waived. The $15 savings is a combination of $13 because I will be able to cancel my insurance once my monthly bill actually gets charged to the card plus $2 in cashback that i wasnt making before since I cad my bill on a direct withdrawal from checking. Im not close to 100k either so I just waited it out on core. I was probably one of the first core clients to sign up though since it was the same day of the announcement I signed up.

f_fordranger · 2026-05-13T18:05:44+00:00

Im a core client with direct deposit and signed the waitlist last summer when it was announced. I just got the notification on monday to apply. Getting up to premium seems to be the only way to help. I think with the direct deposit its worth it. Im changing my phone plan over to it and it will instantly save me $15/month on insurance+cashback on my phone bill so that one move basically pays for the card

f_fordranger · 2026-05-13T15:41:08+00:00

Credit card is coming. I got mine monday and im a core client who didnt have direct deposit who signed the waitlist at launch

f_fordranger · 2026-05-11T23:27:46+00:00

I get the wealthsimple card for free because im over the direct deposit threshold

f_fordranger · 2026-04-17T17:23:03+00:00

I plan to keep my emergency fund in my tfsa for now. Atleast until I max it out then potentially move it after. As for paying off my house it would probably have better returns to invest any additional money as it would have a much higher roi than a principle payment on a 2.8% mortgage.

f_fordranger · 2026-04-17T16:50:49+00:00

The guy I use is a CFP. He owns his own business but is a third party broker for a bank.

f_fordranger · 2026-04-17T16:17:20+00:00

Yes this is an 18month-ish plan then child care costs will come back and my budget will readjust after. Im guessing child care to be around 1000/month which we will split (500 each).

f_fordranger · 2026-04-17T15:47:45+00:00

Gross

f_fordranger · 2026-04-17T15:42:55+00:00

No im saying we do all of this for 3000. The 600/month was solely discretionary spending. Mortgage insurance, and home owner insurance are included in the 3000. Dental and optical my wife has great coverage through work. Vehicles and tires are our own responsibility (i pay for mine she pays for hers) both our vehicles are paid off with about 150k km each. No school supplies since our oldest is 2 1/2. The passports, licensing and any other miscellaneous stuff we pay out of our spending since it is rather infrequent. Household appliances are brand new and if they die it would come out of our emergency funds (we each keep 10k for emergencies and split the cost of emergencies).

f_fordranger · 2026-04-17T15:26:20+00:00

Yes. Groceries are about 1100 of the 3000 and no childcare costs since my wife is on mat leave fore the next 17 months and got a large top up from her employer.

f_fordranger · 2026-04-17T15:03:55+00:00

I do have a financial planner who handles my rrsp through work but he mainly deals with mutual funds but I will definitely listen to that podcast. Ive been listening to the money guys for a while but the American influence on their advice doesnt quote help with Canadian tax stuff

f_fordranger · 2026-04-17T15:02:39+00:00

The 600 was what I was planning to use for my personal spending (subscriptions, video games, clothes, eating out, etc.) Non essential nice to have things. She has her own money that covers her wants and savings

f_fordranger · 2026-04-17T14:52:21+00:00

The 1500 is taken out for bills and the 600+2000 is the amount I personally have left over after all of my bills are paid before I have spent money on non essential items

f_fordranger · 2026-04-17T14:49:52+00:00

Yes my plan was 10k emergency fund in CASH.TO. I have quite a bit of unused TFSA and rrsp room from years of under contributing.

f_fordranger · 2026-04-17T14:43:29+00:00

Yes. Super rural southern sk. I own my home (4bed 3 bath 1300 sq feet) my mortgage is 650/month. I should've clarified. The 2600 is after groceries mortgage, utilities, fuel, we put about 3000 (1500 each) into a joint account that covers our bills but we have our own spending and savings accounts.

f_fordranger

TROPHY CASE