Happiness Has Become My New Rich : Net Worth Update June-Aug 2017 (+0.43%)

BE THAT ONE PERSON WHO PUTS HAPPINESS FIRST AND YOU WILL FIND THE GOLD YOU TRULY SEEK.   The richest man or woman is the one who believes that happiness comes before money. In a sea of unhappiness because of job loss, minimum wage, health and all things related to money be that ONE person who puts happiness first. I knew the time would come where I’d have to write a post like this and tell everyone, we spent a large amount of money. Don’t worry I’m not crying over financial loss rather I’m jumping for joy because I understand more than ever what happiness is. I talk to many people daily while networking on social media many of which are not rich in numbers but seem to be content. They don’t have everything they’d like to have but they get by and still manage to have a laugh and create fun instead of buying it. You don’t have to sail around the world to be happy, only YOU can do that. Money doesn’t buy happiness, bla, bla, bla. I know you’ve heard that and it is the single most smartest thing I can agree on in personal finance. My […]

Should You Have More Than One Income Source? : Our August 2017 Budget Update

MORE THAN ONE INCOME SOURCE DOESN’T MEAN YOU HAVE TO TRADE HOURS FOR MONEY PROVIDED YOU KNOW YOUR OPTIONS. Someone asked me the other week how I was going to adjust to having only one income source now that I’ve resigned from one of my full-time jobs. I responded by saying that it won’t bother me one bit, at least not right away. Why? I can finally breathe and try to get my life back on track because I felt like I was on autopilot for all those years even though I enjoy what I do. Thankfully we have income sources that earn us some extra income such as this blog and our retirement investments, but are they enough? That depends on how much money we’d like to make and without much effort. Unfortunately the blog does take lots of effort so we do have plenty of room for improving our income source options. Having more than one income source sounds draining especially when you’re already working full-time and any available overtime. Some couples only have one income source because either/or become a stay-at-home parent until their children are in school full-time. My mum did this while my father worked in […]

Mortgage Freedom Means You Still Need To Run : Our May 2017 Budget Update

EVERY DAY IS LIKE A FINANCIAL ROAD TRIP WITH BUMPS, DETOURS, GREEN LIGHTS AND FLAT TIRES.   Teach me how to get rich my sister-in-law asks me surprisingly a few weeks back since finding out we’ve been mortgage free 4 years as of May 2017. I don’t know about the “Rich” part but I can certainly talk for hours about budgets, frugal living and the importance of it all.   Mortgage Freedom is just the beginning   Since burning our mortgage papers Mrs. CBB and I have done one thing that some people might stop doing. Do you want to know what it is? Of course you do. Related: How we became mortgage free in 5 years We never stopped with the financial discipline we’ve ingrained into our routine over the past 10 years. Sometimes it’s hard to look back and think it has been that long but not really when you consider the life of a typical mortgage is 20-25 years. I don’t have all the answers but I do know that if you aren’t prepared to invest in your finances then you must deal with what you have. I don’t care if you’re already rich, collecting welfare, earn […]

How To Build Your Wealth Without Earning Big Bucks : April Net Worth Update (+1.96%)

YOU MUST BE EARNING BIG BUCKS IF YOU’RE DEBT FREE- Not exactly.   The misconception that you must be rich and earning big bucks if you’re debt free is SO WRONG. The first thought that comes to mind when a young person says they are debt free without a mortgage is that they must have inherited money from someone. Typically the parents are the first target of interest, but does that really matter? Not really. It helps but it’s not often parents have the spare cash to dish out but for those that get that kick-start if they aren’t money-wise they could lose it all. Buying a house depending on where you live in Canada is becoming out of reach for many people especially millennials looking to get into the real estate market. A recent house sale on our street went for nearly $700,000 at just under 1400sq feet. Have a look at how much we value our house at in our net worth chart below and you’ll see what I mean. Manulife Bank issued survey results on Tuesday that suggest 45 per cent of millennial home buyers received a gift of money or a loan from family. That compares […]

5 Important Budgeting Rules We Won’t Break : Our April 2017 Budget Update

Budgeting rules are not laws that will strip you of your financial independence. They are your guide to financial success.   Your budgeting rules may not help you get out of debt in 12 months but it will help you get out of debt according to your payment schedule. The more money you can pay on your debts the faster you will get rid of them. Earn more> Pay Debt> Save More> Repeat which also means for some people that a second or even third job is needed. I can’t tell you what you SHOULD do because I don’t know your numbers this is why it’s crucial to have in-depth look with your financial planner. Since Mrs. CBB and I do our monthly budget together we were talking about what we’ve accomplished and continue to do to make our budget work for us. Besides being on the same page financially we both follow budgeting rules that we feel have been crucial to our zero debt success. This month will mark three years of us having total debt freedom since paying off our mortgage. Often we wonder how we managed to pull that off before the age of 40 when so […]

How to become Financially Free in a How To World : March Net Worth Update (+1.46%)

HOW TO LOSE A GUY IN 10 DAYS…   Remember that movie? Even the relationship industry has poured their hearts out to those in need of motivation for years and making a mint from it. Why? The words How and To can be compared to gold because finding the answers to something you need or want is a relief, a big one. Becoming financially free was something I wanted from a young age even though I was still learning about what the heck it meant. All I knew is that if you needed something you had to have money to pay for it. I knew that you had to work to make money and that it wasn’t always easy to find a job unless you specialized in something that was needed. I ask myself, ‘How to’ do something when I don’t understand what I’m doing and Google it. I did lots of that when I was in University and I still do it today for just about anything I need clarification on. Is it all true what we read online? No, so before you rush out to make millions of dollars from licking envelopes be ready to embrace the good, […]

How To Lower Household Expenses Without Guilt : Our March 2017 Budget Update

THINK BEFORE YOU ACT ESPECIALLY WITH YOUR FINANCES.   Giving up something doesn’t have to mean giving it up for good. One comment I often hear when I offer budget help is that it’s so hard to reduce household expenses without feeling guilty. This guilt often leads to even more debt being created because of letting people down, including themselves. The provider(s) may feel they are not good enough to support their family which creates inner turmoil and struggles. No one wants to say you have to give something up, especially to a child. Anyone who has direct access to money or that is affected by the money will feel loss when something has to be chopped. A reader asked me how to deal with guilt while I was assisting them behind the scenes with their monthly budget. I know she will read this but now she’s in a better place and has her budget under control and her family is on board.   Guilty or not guilty   How do you deal with financial guilt? You don’t- You jump over it and move on. You need to keep things under control and by doing so you’ll gain support by […]

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