RESP Investing In Your Child’s Education-The Basics

Registered Education Savings Plan : The Basics What is an RESP? Being concerned about how to afford a college education for my son, I made some enquiries about a Registered Education Savings Plan, or RESP.  This is a special savings account that makes provision for post-secondary education costs. If you are like me savings and investing are very important to my family. Those who subscribe to a RESP are also entitled to receive the government’s Canada Learning Bond (CLB) if they qualify, and the Canada Education Savings Grant (CESG) which, as I found out, can provide a welcome boost to the funds. Who is it for? An RESP is set up to provide financial support for those aged 17 years and over, and who are undertaking eligible courses of study.  Contributors to a RESP are normally parents or guardians; however, a grandparent, other relative or even a family friend can also make contributions. How do you get one? A simple two-step process helped me to get things underway.  First of all I checked out my Social Insurance Number (SIN), and then I chose an RESP provider.  My SIN gave me access to government benefits and programs and, when I began to […]

Maternity and Parental Leave Part 1 – The Basics

Even if you have the easiest baby in the world, maternity or parental leave won’t be the blissful paradise you imagined if you’re constantly stressed about your reduction in income. In this two-part series I’ll outline how the benefits work, and how you can make them work for your budget. Maternity and Parental Leave Benefits in Canada Unless you work for a company that offers an income top up programs or paid maternity leave most parents on leave will only receive basic maternity benefits, which fall under Canada’s Employment Insurance program. While many people refer to the year a mother takes off after the birth or adoption of a child a maternity leave, it’s actually a combination of two leaves. The first leave is called maternity leave, and is only available to birth mothers and surrogate mothers for up to 15 weeks. After the 15 weeks, the leave is now called parental leave. This cheque can be collected by either the biological or adoptive parents for up to a maximum of 35 weeks.These benefits can be claimed by one parent or shared between the two partners, but cannot exceed a combined maximum of 35 weeks.   Parental leave benefits must be […]

grocery game monthly challenge

The Grocery Game Challenge May 28-June 3 Hot Hot Hot!

We are now in the last week of May and it sure has been abnormally HOT for most of us in Southwestern Ontario.  Please let it rain mother nature! We’ve  been using the barbeque quite a bit for the past couple months.  Nothing like a bbq, and nice cold beer and having your mates around. Since purchasing a new gas barbeque earlier this year we are happy with our decision of  buying one with the side burner and rotisserie. We use the side burner to boil potatoes, corn and small fry ups.  This saves us money rather than using the electric stove in the house with the added bonus of  not heating up the house. We have yet to put our Central Air on likely around July same as last year although we hardly use it. We have also been cooking from scratch lately and rather enjoying the recipes I’ve developed in the kitchen. Recently I made Mr.CBB’s Slammin Chili with a Spicy Cheddar Bacon Corn bread which was so good and paired well with the chili. I’ll be posting the chili recipe later this weekend. With that being said, this week was a slow week in terms of shopping as it […]

How To Get the Most Out Of Frugal,Easy Cooking!

How To Get the Most out of Frugal, Easy Cooking There’s no working around food; you just can’t avoid it. And if you want to be healthy, you really need to invest some time and thought into it. Now, food is not cheap. Especially not healthy, organic, diverse food. If you live in a family with children, expenses are vast and your resources are limited; careful meal planning is a must. So, how do you plan meals on a budget, eat healthy, and have time for a LIFE? Here are some helpful tips on how to save money and time when it comes to preparing meals: 1.Try to shop in bulk at least once a month. Have a list of items to buy, and DON’T include things you don’t absolutely need. It would be great if everyone could eat healthy, organic food, but if you can’t afford it, it’s enough to buy fresh produce from the farmer’s market, or just any fresh produce. 2. Cooking “in bulk”. That is, try to set aside some time on weekends, or when you have more time than usual, and make A LOT of food. That way you can freeze meals for days/weeks to come […]

Mr.CBB’s Spicy Cheesy Bacon Corn Bread $5 a pan

By: Mr.CBB I was inspired to make cornbread from a couple of fans on facebook who had talked about corn bread. If you have followed along with me you know I am terrified of making any bread whatsoever. My attempts in the past have all went south right into the bin.  When I realized corn bread had no yeast, well the ideas started popping into my head. Both Aunt B’s Kitchen out of British Columbia and Beckie Thiessen who shared their recipes with me. I decided to make cornbread but wanting to design my own recipe for the blog. I don’t think I realized how versatile cornmeal is and how cheap it is to buy. I love to experiment with texture and flavour so sometimes, my recipes fail but most they are an epic success! (well to us at least, we love them) This particular recipe has flavours that Mrs. CBB and I both love Cheddar, Bacon and Jalepeno.  The spices were simple and I added a bit of cumin to make the bread pop with flavour. I suggest eating it straight from the oven when the cheese is oozing… hot! I also did not have buttermilk which I read is the best for cornbread… […]

Just Married! We’re Newlyweds And Need A Budget

Were you Just Married or planning to tie the knot soon? Get yourselves on the right financial track with a little preparation today. It’s that time of year Wedding Bells are ringing all over the world. Bliss is happiness until all the hoopla fades to the background. I sometimes get panic emails from newlywed couples looking for tips on budgeting or tips to help them out of a financial mess they’ve created. I do however always suggest they seek professional guidance as I am merely a man who understands money and budgets. None the less they want answers or anything to help them see a ray of light. I typically ask them some questions right from the start. 1-Why do you want to budget? 2-How much debt do you have? 3-Are you both committed to budgeting? 4-Have you ever used a budget before? 5- Do you know your credit scores? These questions help me to get a better understanding of their budgeting knowledge and a small picture of their debt and spending habits. It also helps me to understand who is in charge and whether or not they keep any money secrets. I’m a firm believer that couples should understand their finances before […]

Mr.CBB’s Blog Post Picks Of The Week~May 19-25,2012

By: Mr.CBB I’m back again with my second blog post picks post (say that 10 times). What a week it’s been for Canadian Budget Binder. We surpassed 25,000 blog views and have a wonderful 1500 Facebook Fans whom are a great team to talk to every day. My Twitter Followers have been growing slowly but that’s ok, we all have to start somewhere. My followers keep me up to date with the latest and greatest which I enjoy reading and re-tweeting.  I was also surprised to get nominated for another blogger award called the Kreativ Blog Award by my mate Dennis at What To Cook? Thanks again Dennis! When I started this blog it was merely to see if anyone out there wanted to listen about how we save money and stay out of debt. What I wasn’t prepared for were the vast amounts of not only Canadians but diverse cultures all over the world looking for advice, tips and answers to their questions.  I’ve met and teamed up with some amazing bloggers and fans that motivate me to keep doing what I do. To all of you, I thank you for taking a small blog like Canadian Budget Binder into […]

Watch What You Sell At Your Next Garage Sale Warns Health Canada

Are you thinking about “Spring” or “Summer”  Cleaning for things you can sell for money? Most people wonder what to sell at a garage sale but now they need to know what NOT to Sell at a garage sale. Have you heard of the Health Canada 2012 Garage Sale Advisory? In the summer time especially, people come in droves to find the latest and greatest deals at garage sales in Canada. I know we’re part of those groups of people. I’m not so sure it will be as exciting as it once was maybe more stress than it’s worth. I recently posted about garage sale tips for buying and selling stuff  and felt it was important to write a new post to highlight the Health Canada Advisory for Canadians who want to sell new or used items. We are all looking for ideas for yard sales and the latest tips for yard sales but these tips today take precedence over any other. Do you understand the 2012 Advisory? If not you need to read on because I was even shocked during my research……. You are  legally, yes legally responsible for the items you sell, new or used making sure that they meet regulatory […]

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