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 […]

How To Say No When You Are On A Budget!

Photo source For some say the word budget and they turn their head the other way. It’s almost taboo to be on a budget for some. They think budgets are for poor people, I don’t need to budget. Ya right, time to get a grip! I’ve never had a problem telling anyone “No” but sometimes it can get frustrating when people just don’t understand. Have you ever met someone who tells you what they do for a living  and you automatically assume they have lots of cash? Likely, we all do it but is it the correct way to be thinking?- No Why is that not the correct way to think? It’s simply not always the case and we don’t know what happens in everyone’s budget and life. How do you know they have a healthy bank account? Can you read minds?  (if so please click here and contact me…. I could use your ability) There are lots of people earning 6 figure incomes but are in debt because they spend more than they earn or have massive student loans to pay back etc. Education is not cheap and most pay for it for years. Another example is when you say oh […]

Quickie Contest Winners! Reading Our Bills!

Quickie Contest- How We Designed Our Budget Step 9- Reading Our Bills! Thanks to everyone who played tonight it’s been fun! Congratulations to everyone who found the LOVE FERN picture.. it was hidden in the post “Driven to Quit Challenge Has Ended -A Lifestyle Change For Love,Health and Money” Our Winners tonight are : Coupon Prize Goes to…..Jen Peacock #19 for  Jen Peacock – already subscribed to the blog! Coupon Insert Winner-Joanna Cheevers #10 for  Love Fern Location: Driven To Quit Smoking Challenge Has Ended- A Lifestyle Change For Love,Health,Money Please send me your address ! Thanks again to Zayba Ramoutar for donating tonight’s Prizes!! Thanks to everyone who participated! Mr.CBB

How To Make The Right Calculations Work For Your Budget!

Congratulations on putting a budget together as it’s one of those things that people tend to shy away from as they believe it is too much work. I agree it is work but once you have it in place it’s easy street after that. One of the frequently asked questions I get is, How do I know how much money to put in each category? If you have followed my Budgeting Series you will read about how we designed our budget but not so much the calculations we used to come up with the numbers. I wanted to show you some examples of how we may have arrived at our numbers. How to make the right calculations work for your Budget! Yes it’s all about the numbers and don’t be afraid the math won’t bite you! Let’s start at the basics…..during the month you’ll spend money and earn money, it’s a way of life. Normally you wouldn’t take much notice of how the payments are setup until now.  Now your listing payments on a budget sheet and trying to track them. Payments of bills or wages can come in a variety of schedules…….tracking them on your budget depends on which […]

Do They Offer Debt Management Degrees?

It’s not just Canada where most students are finding themselves under water before they even graduate,it’s happening all over the world. Read this guest post by my mate Michael Edmondstone in the UK who had the wake up call of a lifetime. Mr.CBB Guest Post By: Michael Edmondstone A degree, a wealth of memories and… thousands of pounds of debt; that’s what I left University with, and I’d wager that plenty of other students have the same outcome. With the job market tight and the realisation that I’d overspent during my three years, it was a scary time trying to understand how I’d be able to get out of this sticky patch. Sticky patch may well have been an underestimation considering the two credit cards I’d managed to max out – not to mention the tuition fees and student loans. Low interest was a great deceiver in more naïve times but they’d gone and I had to face up to £3,500 credit card debt I had. And, since I have, I thought I’d share it with everyone else. So, here it goes: Understand where you’re at – The first thing to do is to ensure that you know exactly what […]

Five Ways To Cut Your Budget To Save Money $$

One of my fans asked where they could cut back in the budget to save more money as they weren’t putting any emergency savings money away. This actually got me thinking about our budget. What if I had to cut money in our budget and what were the first categories I would look at. Clearly we can’t make any changes to the “Fixed Costs” in the budget. Fixed costs are costs that are the same each payment. So the only other option is to look at the “Variable Costs” and see where we could make adjustments.  Sometimes the top reasons people go into debt are simply because they are not budgeting and not being mindful of where their money is being spent. This task perhaps may be overwhelming for some yet we continue to get overrun with excuses and reasons why they  simply can’t do it. They  justify each expense and then give up working towards their goal of saving or paying down debt. You have to be motivated and willing to go without sometimes to reach a goal. Jen Peacock a Facebook Fan says “Makes me angry and then I usually give up, I need motivation!” Well I’m there (Mr.CBB) to […]

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