4 Hobbies To Start In 2021 That Won't Empty Your Pockets

A new year signifies a fresh chapter for many people. It's when new ideas are formed, new relationships are forged, and new hobbies are explored. Frequently, however, discovering a new hobby can be expensive. 

If you've ever tried to do a different sport or activity in the past, say kickboxing or professional cosplay, you already know that these activities cost more than an open mind and the courage to venture off into the unknown. While these activities make cost money, here are four that won't burn a hole through your pocket:

Build a Business

Starting a business as a hobby isn't just inexpensive; it’s also potentially lucrative. And since it's a hobby and not some chore or work assignment that's forced upon you, you'll still enjoy doing it continuously. 

Some low-cost and low-effort businesses enough to be categorized as a hobby include digital content creation, pet care services, and consulting. Even if you don't end up building an actual business, reading about potential money-making ideas and testing them out can still be a fun and productive hobby altogether. 

If nothing else, attempting to build a business as a hobby can instill an entrepreneurial mindset that can help you flourish in other life endeavors.

Collect Currency

Although there are still traveling restrictions in place, the roll-out of COVID vaccines may lead to greater leniency in terms of countries reopening their borders to travelers. If you consider yourself a travel bug, currency collecting is a great low-cost hobby that allows you to preserve your travel memories. 

You can collect low-value coins or bills from the cities you've visited. Consider investing in a currency album to help organize your memorabilia and to avoid misplacing them.

There are two main ways to collect currency - travel or purchase it directly. Of course, of the two options, traveling comes as a more enjoyable way of collecting currency. Be sure you know the basics of currency collection, such as collections, interesting serial numbers, star notes, and misprint errors.

Hike

Hiking is beneficial for a myriad of reasons. Not only is it physically exerting and mentally de-stressing, but hiking also allows you to minimize contact with other people amidst the ongoing Coronavirus pandemic. 

All you need to hike are some hiking shoes or boots, weather-appropriate clothing, and transportation. Regardless of where you live, there is bound to be at least one hiking trail you can trek on. Consider inviting family or close friends when you hike to maintain social distancing measures while also satisfying your basic need to socialize.

To pull off a fun and safe hike, remember to bring plenty of food and water as well as a first aid kit. If you need special accommodations, such as RV parking or disability ramps, be sure to call the local park authorities in advance. Lastly, be sure to tell someone exactly where you plan on hiking or, better yet, provide a map with an outline of your planned route.

Play Video Games

Playing video games has had a bad rap in the past. Since they were relatively new, video games were demonized as being too violent or negatively affecting one's cognitive function. Modern studies, however, reveal that indulging in video games in moderation can have positive effects on brain function. 

For instance, studies found that video game players displayed improved attention span, resource management, and decision-making skills compared to their non-gaming counterparts.

Furthermore, studies also show that playing video games improved the person's visuospatial skills or capacity to determine visual and spatial relationships between objects. 

And of course, playing video games with other players can help improve your ability to work in teams and communicate with others to accomplish a collective goal. Today, most online games are free to play, so you won't have to spend a dime to play them.

Starting a new hobby is exciting, even more so when it doesn't cost you a great deal of money. These four activities mentioned above are only the tip of the iceberg of low-cost hobbies you can try this 2021. 

Other low-cost hobbies to consider: learning a musical instrument, cooking, learning magic tricks, cycling, etcetera. The choices are endless as long as you are willing to keep an open mind.

6 Ways to Make This Year's Tax Season Easier

The new tax season is upon us. For 2019, almost 31 million Canadians filed their taxes by mail or electronically. This was despite a global pandemic that virtually stopped citizens from doing anything. 

The upheaval of the previous year could result in an abnormal tax filing season. There are ways to make it easier so nothing is left out. Here are six tips to consider.

1. Get Organized

The organization is a top priority to receive the maximum refunds and avoid potential audits. All of your paperwork must be ready so you can efficiently file your taxes. If you didn't have your work organized already, then you must take time to do so now.

Ensure receipt of your T4 slips before the due date when it's supposed to be delivered. Pull out all receipts and invoices related to business expenses. Locate bills for university tuition or student loans. Finally, organize the paperwork related to tax-deductible donations.

Once the information is gathered you want to separate it per its section on the tax form. Thus, income, interest, and dividends are first. Deductions and credits are underneath that information. If anything is missing, then see if it can be retrieved online.

2. File As Early As Possible

You don't have to wait for your T4 slip to arrive before you file your taxes. You can start as early as 12:01 a.m. on January 1. As long as the government offers updated tax forms, you can start adding information when it comes to deductions and tax credits. 

You actually don't have to wait for your T4 or T4A to include income information. You'll be able to pull the data from your last pay stub or year-end investment statement. The one thing you'll need to close things out is the employer's or investment firm's government ID.

3. Have Funds Available For Payments

Unfortunately, there are times where you'll owe taxes. This is something you might be aware of before the new tax season. Especially if you collected non-taxed unemployment or ran your own business. 

For these situations, you want to have the necessary funds to pay taxes due at the time of filing. If you don't have them available when you complete the forms, then work to get the funds so they're available when the official filing date comes around.

4. Invest Maximums Into Retirement Funds

One way to reduce your tax values is to maximize your retirement investments. This should be done at the end of the previous year for some. Other types, like a tax-free savings account (TFSA), might allow you to make contributions at the time of filing. Take advantage of this to minimize tax liabilities.

5. File Online

There are plusses to file taxes online Canada style. First, your fear of on-time delivery by mail is minimized. Online filing through companies like Cloudtax sends your information directly to Ottowa and the provincial governments. 

Second, you receive your refund much faster. If you decide to file online then watch out for underlying fees. There shouldn't be any if you file a standard T4. However, companies might charge extra if you need to file line-item taxes for your business.

6. Let Someone Else Do It

Having a professional handle your taxes takes a huge burden off of your shoulders. They not only put together the documents but they also review information to see if any further reductions can be made on your taxes. 

In the end, they can help increase the refund you thought you'd receive. Yet, this doesn't happen without following step one in this process. 

You still need to organize all of the required paperwork. The tax professional can't produce the best outcome for you without the necessary T4 & T4A slips or the required invoices and receipts.

The above steps might seem daunting at first. However, you don't have to implement them all at once. Regardless if you file on your own or through a tax service, preparation is at the heart of everything. 

When you have all of the required documents, filing your taxes is much easier. On top of that, it results in a maximum refund that can help support your family in the new year.

Top 3 Most Beloved Novelty Items To Collect In 2021

Novelty items are remarkable. You get to hold a piece of art or history that no one else has. It may represent a significant investment, but you have to figure out what to invest in. The following are three precious novelty items you may want to have in your collection.

1. Vintage Video Arcade Game

One beloved and collectible novelty item that's an absolute must is an arcade game. These are not popular anymore because of the introduction of more sophisticated arcade games, but they're still beloved. People remember going to the arcades, and nostalgia is still worth something.

These games are still playable today, so you can plug them up and play them if you want. They are a symbol of a bygone era that people are always fond of. Find the arcade game you feel most connected to and have it delivered.

Some of these arcades are in pristine condition, so you'll get a lot of use out of them. Those who have enough space could consider investing in more than one to create your indoor arcade room. There are also a few vintage pinball machines if you want to add those to your collection. You may want to have a little get together to share these games with others.

2. Beautifully Handcrafted Clock

One unique and beloved novelty item you must have is the cuckoo clock. Yes, this is one of those cuckoo timepieces that are pieces of art rather than just a clock. Years ago, these vintage works would be meticulously designed and would sometimes tell a story.

Every hour a little bird would come out to tell you one hour passed, or maybe a couple would come out to give you a little dance before retreating into the clock. The possibilities are endless, so if you're going to be purchasing a beloved cuckoo, then you have to make sure you choose one that fits you best.

Some modern clockmakers create unique pieces by hand. It does take some time, but it's all worth it to make sure the clocks do their job for a long time. Some clocks can be mounted on the wall, while others are much larger, so be sure to keep space in mind before making your decision. You should also pay attention to your decor to make sure you're choosing the right one.

3. Personalized Porcelain Doll

If you love dolls and want to own a truly unique one, consider a personalized porcelain doll. Yes, this means the doll is going to be made just for you, and it's going to look like you or your kids. It's going to be a work of art because you'll have to work with an artist.

It may take some time before you can hold the doll in your hands, but once you see it, you'll be happy that you did this. A doll-like this isn't a toy, so if the doll looks like your kids, let them know it's not a toy but a collectible. 

You'll have to place the doll in a safe place because kids can get tempted to pull the head off or a leg, and you don't want that. You want to preserve the doll for future generations.




Porcelain dolls are exceptionally delicate, and kids are not always the most careful with fragile items. You probably will have to do some research to find someone who can get this doll done right. 

Many artists might say they can do what you want but aren't too experienced. Request pictures of past work so that you can see their expertise. When you find the right artist, the next thing to do is choose a picture you love. The artist will use that to create a look-alike doll.

You've got three special and unique collectible novelty items here, so just choose what speaks to you the most. You can always choose all three if you want, or you can keep on looking; maybe you prefer something that involves pop culture, like a fireplace in the shape of the Death Star from Star Wars.

Unexpected Costs You Need to Prepare for When Planning Your Retirement

Some people believe that retirement is a means to an end. In reality, though, retirement is another exciting chapter in your life. Remember the freedom you had as a child to do whatever you wanted? That’s what retirement should be. It’s a time to enjoy life as it is meant to be enjoyed. 

But before doing so, there are a few costs you have to plan for, and some of them may not be what you were expecting. Here are the unexpected costs you need to prepare when planning your retirement.

Repairs to Your Home

One of the best parts about retiring is that you get to enjoy the comfort of your home more than you did while working. However, problems still occur, usually at the most inopportune times. 

As you continue to work and make your way towards retiring, getting a home inspection can save you from a lot of headaches down the road. The price of a home inspection depends on the company, but on average, it typically costs around $300 to $500. 

If a problem is discovered during the inspection, have it repaired while you’re still employed. It is also wise to put some money aside for home maintenance issues that might come up during retirement.

Health Care

Another expense you may not expect to pay for is your health care. Because some people get their health insurance through the company they work for, it’s important to plan for when you no longer have that coverage. Research different health care plans and decides which are affordable and suit your medical needs.

Moving Costs

With the freedom retirement gives you, you may feel inclined to move. Moving is one of the most expensive decisions you can make in your lifetime. 

So much so that it requires a lot of preparation. In addition to the cost of buying a new house, you’ll have to keep closing costs, moving costs, home repairs, property taxes, and other costs in mind.

Tax Planning

Whether you’ll live off your retirement fund or choose to open your own business in retirement, you will need to file taxes. Taxes can quickly get complicated, especially as seemingly minor rules and laws are altered. Tax planning classes are an excellent way to educate yourself and prepare for paying taxes after your work career ends.

Pension Cuts

Finally, you also need to think about your pension. A pension is a savings account that you deposit money during your work career. Your employer may also contribute a certain percentage to this account as well.

When you retire, you will receive checks on a monthly basis, which gives you a passive income. These benefits can be received all the way up until death, and depending on the type of pension you have, your spouse may continue to receive payment as well. 

However, it’s important to know the specifics of your pension prior to retiring. If not, you may not receive all the money you earned and deserve.

Retirement should be a time to do all things you want without worry. Take the time to create a retirement strategy that will help make the transition as smooth as possible.

Is Insurance Cheaper if You Bundle with One Company?

Everyone knows that insurance is essential for your car, your home, and your other vital items. This can get extremely expensive. If you want to lower your payments, you may consider bundling your policies. Here is a look at the potential benefits of bundling with one company.

What is Bundling?

When you purchase different insurance policies from the same provider, you are bundling your plans. This can include home, auto, and life policies. This makes it simpler to pay premiums each month. Most companies provide discounts to customers who have multiple policies with them as well.

Benefits of Bundling Insurance

When you bundle your policies, it is definitely possible to save money, especially with your car insurance. You may be able to save up to 20 percent on your premiums. 

Thanks to these savings, you may be able to increase your coverage. Also, bundling makes it less likely that your carrier will drop you for filing a high number of claims.




It is convenient to work with one company as well. Bundling policies saves you time paying your bills, and a single representative can take care of all of your insurance needs. 

Also, when you establish customer loyalty with your provider, your overall experience is better. For instance, your insurance representative may be able to make valuable coverage suggestions that suit your needs and that help to save you money.

Receive an Insurance Quote

Most insurance providers will offer competitive rates, especially when you are planning to bundle your policies. It is wise to gather insurance quotes so that you find the best deal for your individual circumstances. 

After you receive a bundled insurance quote from each of your current providers, you can compare each one to the individual rates that you are presently paying. You can receive bundled quotes from other companies as well.

Who Shouldn’t Bundle Insurance?

Although it is often cheaper for a person to bundle multiple insurance policies with one company, it may not always be the least expensive option. 

If you have a high amount of traffic violations or live in a state with high rates, it may be less costly to keep separate policies. It is always best to speak with your existing insurance providers and to obtain a bundled insurance quote from each one.

Insurance is a costly proposition, but it is necessary in times of accidents. It may be beneficial to bundle your policies with one company. Besides saving you money, you may enjoy other perks and fewer hassles. It is always best to obtain various quotes and to discuss options with your current providers.

How You Can Budget for the New Year: Saving Tips for Your Family

 

Every time people get fascinated with making New Year’s resolutions. That is because it’s that perfect moment of the year to stay away from work and enjoy time with the family and to start working on yourself. 

To make the new year more exciting, they may decide to travel to an exotic destination or even splurge on a big gift. Others may choose to spend time with their favorite hobbies and build skills. During these times it can be extremely easy to go overboard and spend way too much money on things you don’t need.

Planning on how to spend your money and knowing where it will go is common sense that people often overlook every year. Read on to understand why it is essential to budget for your new year and how you might be able to effectively achieve this goal.

Importance of budgeting for the New Year for you and your family

The holidays and a new year can be extremely stressful for some families because of financial questions. With things like taxes, salary negotiations, and holiday expenses appearing, you can be sure that this stress is warranted. Here are some tips to make the whole experience a little less stressful:

Managing debt correctly

If you budget for your holiday and adhere to it, you will reduce your chances of falling into debt. You will know when and where to spend your money. Doing that will allow you to save for the days ahead and also clear your debts in time. 

Managing debt or large purchases can mean that you need to look for personal loans online but make sure to do your homework. This option can help get things moving in the right direction. Consider these loans for consolidating debt but only in the interest rate is manageable. 

There are many different methods that unsavory businesses can trap unsuspecting spenders at a ridiculous rate. 

Start saving for big purchases

After you have planned what big purchases you are going to save for, you can begin putting that money away and making the saving process more achievable. That will prevent you from overstretching on your spending. 

Plan ahead to know your limits

Planning financially for trips, gifts or toys early will also enable you to know what you can do for yourself because you will have enough time to do that. More often, people spend too much on gifts that they can’t actually afford and end up in over their heads.

Choose low-cost alternative activities

Consider the activities that you want to do with your family each season this year and consider if there is a lower cost alternative to these activities. It’s not a must that you travel to a 5-star resort or buy tons of gear for costly outdoor activities. 

Have you considered doing a simple day trip in the car or a sleepover in the backyard in a tent? You can also visit many national forests as they are extremely affordable options for getting away. 

Book necessary flights early

Do you know that travel costs can change substantially depending on the time that you are looking? For example, Google will show rates differently depending on what your search history is recent, the time of day, or if it around a holiday. 

When you book your flights way in advance (like 6 months+) of holidays, you will likely save big and this will enable you to spend the money on other parts of the trip.

These tips can help you realize your financial dream and achieve peace-of-mind no matter the reason for spending.