I’ve been teased for mending a pair of knit mittens so many times that you can see 4 shades of blue along the seams. That’s ok by me, I try not to dispose of things until they really need to go. This is partly for environmental reasons and partly due to my frugal nature. I figure, why buy a new pair when I can fix up an old pair almost as good as new?
In the debate to repair vs. replace, I am a repairer at heart but things can get tricky in today’s electronic age as it is often cheaper to buy a new digital camera or cell phone than to try to repair a damaged one.
These events are offered in many communities and are possible thanks to the help of skilled volunteers who attempt to fix anything from your broken fan to restringing your old beaded necklace. Note, the next event takes place on November 19th at the S. Walter Stewart Branch of the Toronto Public Library.
Even better, some Scandinavian countries are providing incentives for consumers to repair items rather than replace them. In September of this year, it was announced that Sweden will offer tax breaks on repair expenses. This will hopefully not only cut back on waste but also allow an industry of repair shops and mechanics to flourish. Sounds like a win-win idea to me. Here’s hoping the Canadian government takes note.
This Old House’s website does a good job of listing common household items that break down and gives some rules of thumb about when to repair or replace them. You may have also heard about the 50% rule. Generally speaking, if something will cost more than half the retail price to be repaired, opt for replacing it instead. Of course, before splurging on a new washer or air conditioner check to be sure that the old unit is not still under warranty. If you are on the fence about getting a new appliance, consider the energy efficiency of your old appliance versus newer models on the market. Switching to energy efficient models may end up cutting back on your hydro bill over time. Also be sure to check out Green Saver, as they offer free home energy upgrades.
In the end, choosing to repair an old item may save you a bit of cash in the short term and helps reduce the amount of trash ending up in our landfills. On the other hand, opting to replace a broken item may have newer features, be more energy efficient and hopefully have a long shelf life.
I’m guessing that I have at least one more winter season left in my blue mittens before they bite the dust; but then again knowing me, maybe it’s two winter seasons.
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Frequently Asked Questions
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What is a Debt Consolidation Program?
A Debt Consolidation Program (DCP) is an arrangement made between your creditors and a non-profit credit counselling agency. Working with a reputable, non-profit credit counselling agency means a certified Credit Counsellor will negotiate with your creditors on your behalf to drop the interest on your unsecured debts, while also rounding up all your unsecured debts into a single, lower monthly payment. In Canada’s provinces, such as Ontario, these debt payment programs lead to faster debt relief!
Can I enter a Debt Consolidation Program with bad credit?
Yes, you can sign up for a DCP even if you have bad credit. Your credit score will not impact your ability to get debt help through a DCP. Bad credit can, however, impact your ability to get a debt consolidation loan.
Do I have to give up my credit cards in a Debt Consolidation Program?
Will Debt Consolidation hurt my credit score?
Most people entering a DCP already have a low credit score. While a DCP could lower your credit score at first, in the long run, if you keep up with the program and make your monthly payments on time as agreed, your credit score will eventually improve.
Can you get out of a Debt Consolidation Program?
Anyone who signs up for a DCP must sign an agreement; however, it's completely voluntary and any time a client wants to leave the Program they can. Once a client has left the Program, they will have to deal with their creditors and collectors directly, and if their Counsellor negotiated interest relief and lower monthly payments, in most cases, these would no longer be an option for the client.
