Do you pay debt back on time? : The Saturday Weekend Review #89

 red roses pay debt back on timeNEVER TOO LATE TO PAY DEBT

 

Sometimes people think that paying back debt that they owe will disappear if they just forget about it.

I have helped friends and family pay debt in the past and it has taken months if not up to a year to recover the money owed to me.

It’s likely a reason why I don’t offer money to help people out of debt often because waiting to get the money back is sometimes hit or miss.

 

Pay debt back

 

Just recently I received money back from a relative which was borrowed well over a year ago and although I didn’t say anything it puts you in an awkward situation when people think their debts will go away.

She told us that she didn’t think we wanted the money back right away since we weren’t in any debt and we both made good money with our jobs.

The way I look at it is if you can’t afford to pay your debt than borrowing money will either get you by until money comes your way or you will get further into debt just by paying off one debt yet owing another.

Sometimes the debt paid back might be to an organization who might put the debt through the credit bureau where a friend or family member perhaps might not do that.

It’s easier to tell family and friends that you can’t afford it and to wait for the money than a company who is aggressively chasing you for money.

It hurts when you go out of your way to help someone who might have already known they would never have had the funds to pay you back on time but said whatever they needed to in order to get you to lend them the money.

What hurts even more is when you see someone you lent money to spending money rather than paying you back the money they owe you. Sometimes it’s easier to just forget about the money you let them borrow and take it as a lesson learned to never do it again.

Not everyone is this way but for those people who get desperate and will do and say just about anything to get money it’s hard for the people who you borrowed the money from as well. You’ve now put them in a situation they’d rather not be in which might cause bad vibes in your relationship.

I was reading yesterday where Daniel Radcliffe (Harry Potter) star went to a party in 2012 with a Football team and didn’t have the cash to pay for the cab ride home. It was two years later where the multi-millionaire star sent the money he owed to one of the players for that cab ride.

Sure it’s better late than never to pay debt back but what I found interesting were the amount of comments on the Yahoo post that were negative. Sure he is a millionaire but just because he has more money than anyone might ever have in their life-time doesn’t mean he has to fork over a surplus of cash for the cab ride because he was 2 years late paying the debt back.

I’ve had people in the past think that we could afford to pay more because we have good jobs or money in the bank and that’s not right.

Sure, he could have given a bit more because he was late paying his debt back but he was not obligated to do so. What should have been more important was that the debt was paid back and with a hand-written letter to go along with it. I’d be more happy to have a debt paid back that I had thought was never going to come back to me rather than to expect interest or more money on top of that.

Do you feel that people who have money have an obligation to pay more for debts owed because they have a fat bank account?

 

CBB blog news

 

This past week has been uneventful on the blog which is a good thing sometimes because too much action means I might be pulling my hair out to solve problems. Over the past couple of months it’s been crazy around here with spam bots but that’s all been sorted out. That doesn’t affect the subscribers just the blog so don’t panic.

Although I’ve been a bit quiet on the blog scene and my social media since our son arrived this month I’m hoping once we get on somewhat of a schedule I can get back to reading more blog posts. I do read them still however it’s with baby in one arm sleeping and the Ipod in the other which makes it terribly difficult to comment.

A huge shout out to the Debt Free Guys for featuring Canadian Budget Binder on their blog. You can read my Money Masters interview over at DFG and don’t forget to say hello to some great bloggers.

Our son has been up all night and sleeping all day which makes for a huge nightmare of a day for us. We have worked hard to get him to stay awake all day so he sleeps at night. I’m not sure if anyone has any fancy tricks up their sleeves but I’m open to suggestions.

Other than that I’ve tried to keep up with cleaning and getting the Fall gardening started. I’ve already trashed some of the hanging baskets and next year have a better plan for those baskets which sometimes seem like more of a hassle than they are worth but they look great.

 

CBB blog posts this week

 

Just in case you missed any of my blog posts this week you can read them all right here. If you have a question that you would like to ask Mr.CBB fill out the contact Mr.CBB form on the Home Page and send in your questions. Mr.CBB will look in his mailbag weekly and pick a question to answer on the blog.

 

Fan deals and inspirations

 

Jens Metro deals September 2014

Submit your Brag or Inspiration If you have a brag that you want me to share email me at canadianbudgetbinder (@) [yahoo] [.ca] or fill out my contact form by Friday each week to have your brag considered for the Saturday post.

Jen is back this week with some super savings to share with us.

This shop was at Metro

  • Dempsters bread 2 x $2.00 – 2 x $2.00 coupons (websaver)=FREE
  • Breyers ice cream 6 x $.99 – 6 x $1.00 coupons (tear pad)=FREE
  • Pampers diapers $7.24 (on clearance) – $1.00 coupon (brandsaver)=$6.24
  • Huggies diapers 3 x $7.24 (on clearance) – 3 x $2.00 Snap rebates=$15.72
  • Coupons $11.00
  • Rebates $6.00
  • OOP $23.05

 

Making a difference

 

If you know a personal finance blogger that is making a difference and want to nominate them please send me an email canadianbudgetbinder (@) yahoo.ca so I can reach out to them for a feature story.

Hello Mr. CBB, thanks for having me.

My name is Brian and I blog at Debt Discipline. We have just celebrated our 1 year blog anniversary. My blog shares the story of my family and our goal to become debt free. We hit rock bottom in the summer of 2010 with over $109K worth of consumer debt.

We had no idea what to do. We began to get organized and educating ourselves about personal finance. We have had our share of ups and downs over the years, but have managed to pay off $105K of our debt and are just two months away from being debt free. The end goal has always kept us motivated.

The goal of the blog is to share a story from a family’s point of view and hopefully help someone else in a similar situation. We struggled with financial education and now that we have learned so much we are passing it along to our 3 children.

We blog about money, debt, budgets and how they fit into our everyday lives, once we are debt free and begin to build wealth I’m sure we will post more about investing and retirement saving. We are so looking forward to the next phase after debt repayment!

 

Top recipe

 

buttermilk banana bread

If you don’t already know I have a second Facebook page called The Free Recipe Depot where I share recipes from other Food Bloggers from around the world.

Once a week I pick one recipe that has been submitted as my Top Recipe of the week. Trust me when I say this is no easy task as some of these foodies can cook up a storm.

This week I’m sharing an amazing looking Buttermilk Banana Bread from Lemon Ginger and Spice. I also have a Buttermilk Banana Bread on in my CBB recipe index however I add chocolate chips to mine but I’d love to try this one out as well. I hope you enjoy!

 

Editor’s Pick

 

Every week I will pick a blog post of the week from around the web that I found interesting and want to share with you and an Editor’s top blog post pick.

Editor’s blog post pick of the week goes to See Debt Run who shares a post about how some people potentially keep themselves in debt because of the way they think of their finances and potential money situations. Is your money mindset keeping you in debt? If so you might want to give this post a read and decide what the best path towards reaching your financial goals are so you can get over the debt hump.

No matter how much money a person makes, if you think about material items as being things that you deserve, you’re going to have a bad time with finances.

 

Google search terms

 

Every week I get thousands of people visit Canadian Budget Binder because they did a search online and found my blog. Keep in mind any spelling errors below are because I share with you the exact way they typed their search engine query to land on my blog.

  • Looking for a man that cooks- I guess being a man who cooks is a huge deal… men take note!
  • Frigerator- You mean refrigerator. 🙂
  • I need $100,000 to pay off bills- We all need something
  • Stashing money in curtain rods– It certainly is one place many burglars might not think to check… but now they might lol.

Thanks for joining me for this edition of The Saturday Weekend Review #89. Join me here again for more crazy stories from around the web and at home!

 

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Comments

  1. I agree with what Christine said. It’s funny about the sleep deprivation though, isn’t it. You can’t really imagine what it’s like until you live through it! It will get better. Not to worry!

  2. I had read an article also that after 2 years Daniel Radcliffe (Harry Potter) paid his cab fare debt. At least, he didn’t forget to pay his debt, I just remember one of my friends, she owed me money since 2011 and I really don’t know if she will still pay me.

  3. Christine Weadick says:

    Lol!!! You go with what ever works!!! Our grandson hated the bassinet our daughter had for him to sleep in while he was in the bedroom and the crib didn’t score much higher in his opinion. Little stinker wanted to be where the action was!! So he slept in the playpen in the livingroom a lot!! He couldn’t see what was going on from the bassinet in the bedroom or from the crib in his room!!! He still likes to be in the thick of things and is very curious about everything!!!
    Your best bet to get your little one in the cradle or crib might be to rock him to sleep in your arms and then try to put him where ever. Hope he stays asleep then…….

  4. Christine Weadick says:

    Watch your driving while sleep deprived!! I found my kids started sleeping through the night around the 10 lb mark so there is hope yet!!! Mind you my kids took longer then your Little Mr to get there as they were all smaller at birth, kind of goes with being born early too!!! The first time the baby sleeps through the night might scare the crap out of you when you wake up and realize how long he slept!!! And then OMG is he all right?????????
    The younger boy was a little slow at sleeping through but he did get there eventually…..

    • Funny, I just had this thought now. He’s been sleeping for 4 hours in his swing though although we don’t want that but it’s all he will sleep in. The doc says to keep trying to get him in the cradle. We haven’t tried the crib yet though. We were hoping to keep him in our room in the cradle for a few months. This is tough going.

  5. Christine Weadick says:

    Sounds like Little Baby CBB is doing well!!! What I found back when my kids were infants, and it works sort of, is to not be fussed about making noise during the day. The radio is on all day here and I did laundry or vacuumed or what ever had to be done. If it woke baby I dealt with it. But for those night feedings I had things quiet and the lights as low as I could get by with.the idea being to show that night equals dark and quiet and sleep…..hopefully. Things happen during the day and if they sleep all day they might miss out on something!!! It takes time and patience which will be in short supply with sleep deprivation…. Good luck with this…. I think every baby goes through this. And we all survive, barely….yawn!!!!,

    • Yes our patience has been tested Christine as it’s been a huge adjustment for us. Some days I get a bit delirious without any sleep but I’m hoping it will get better real soon.

  6. That buttermilk bread looks absolutely delicious by the way! Those diapers are a steal. I am always surprised how much my sister will spend on diapers in a month. It is a much more than I ever imagined.

  7. In regards to helping out friends or family, you know they say never to lend more than you are willing to lose.

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