11 Habits To Help You Budget Better In The New Year : Our November 2016 Family Budget Update

IT’S TIME TO RAMP UP YOUR BUDGET PLAN SO GRAB A PEN AND START TAKING NOTES.   If you want to budget better and stop stressing over your money issues accept that you must give up something to get something. With the new year approaching many of you might not be thinking about budgeting in 2017 but waiting until the bills start coming due is probably not a smart way to get a fresh start. Household expenses are expected to rise in 2017 and we’ve been warned in part about a few coming our way. With the average Canadian debt load up 3.6% or $22,081 (excluding mortgage) compared to last year it’s critical that we continue to budget better than ever. We will definitely see grocery expenses escalating up $420 per family, carbon tax introduction and other developments that will work their way into our budget. The great news is that budgeting has become a household name and not as frowned upon as it once was considered for people who couldn’t manager their money.  No, No a budget is for everyone even the rich who have proven it’s easy to lose it all when they should have been comfy for […]

The Secret Society Of Knock-Off Rich People : Our October 2016 Family Budget Update

THE SHOW MUST GO ON EVEN IF YOU’RE BROKE   I’ve had enough of playing the role of rich person when I’m not and I just want to be normal. This was part of an email conversation I had with a fan who is struggling with guilt over his debt and underlying reasons for wanting to appear rich when he’s just part of a secret society of debt clogged consumers living in Canada. Pretending to be wealthy won’t make you wealthy, it makes you clumsy with your money which can and potentially will affect your present and future. If you truly believe that you can succeed by sloshing through crowds of affluent people with a line of credit or a slew of credit cards will help achieve your fortress then follow your dream.   Upscale performance of a life-time   The most expensive position you will ever have in your career is the one that you created that doesn’t exist. So you landed a role in the movie titled, “Upper Class” and you’re the star of the show. Is that a real Gucci Bag? Heck ya, I bought it when I was travelling in the UK. Lights, Camera, Action…you’re LIVE. […]

Four Tips To Help Overcome Fear of the Budgeting Process : Our September 2016 Budget Report

  STOP ALLOWING FEAR TO GET IN THE WAY OF YOUR FINANCIAL PROGRESS   If you need help budgeting money do yourself a favour and don’t just “try” to understand how the budgeting process works without experiencing how it will and can affect your life. This is the problem with people who think budgeting is a joke and not needed, they place negative thoughts in their mind from the start instead of motivational action words like, “I will”. Not everyone needs a budget especially if money is not a concern for them. What I like to focus on here though is how much money they could be saving or putting towards other matters instead of spending without warning. So for example, if you spend $400 a month on groceries from a high-end grocer where you could get the exact products at a lower-priced grocery store why wouldn’t you do that? Take the extra cash you save and invest it, donate it or buy extra food to give to the food bank. My point is that we waste money like it’s water when we can conserve it and put it to good use. You don’t care? That’s fine too but don’t […]

Add 1 Cup of Budget Inspection And Watch Your Bread Rise : Our August 2016 Budget Report

DON’T MAKE THIS MISTAKE WHEN CREATING YOUR FINANCIAL RECIPE.   By mistake I don’t mean turning the oven on and burning your budget either as I know some people despise using a budget. I have nothing against you because what’s yours is yours and what’s mine is mine. Those of you who WANT to get RID of DEBT and build a thundering savings account and sizable retirement fund I have one unique financial tip for you-learn to read a recipe. I’m not the Mike Holmes of Budgeting nor the Jamie Oliver of the kitchen but I do know how to read a recipe and I do know how to use a budget. What I’ve learned is that it’s not about just the planning stage it’s everything in between and on-going maintenance similar to being a homeowner or naked Chef.   Read a recipe and savour your budget   Once you understand the basics of a recipe especially when it comes to baking you will understand just how precise you need to be to have the best product. Finding a recipe you are interested in creating at home means you should read the entire recipe from beginning to end. Today we […]

Get Up And Chase Dollars With A Game Of No Debt Go : Our July 2016 Budget Report

TURN YOUR FINANCES INTO A CHALLENGE CHASING WEALTH   If seekers of living the dream would treat their budget and put as much effort into their finances as Pokemon Go players do we’d all be on our way to the bank with a bag full of cash. Do you ever feel that you caged up and running around in circles in your mind because you just can’t get out of debt and financial success seems out of reach? You’re not alone but what one wants one must work at to achieve. It’s amazing how we can take something so simple as a virtual game to get the world off the couch. If we could apply the same determination that I see so many players have roaming around outside to personal improvement we’d all be rich. I’d rather chase my financial dreams and put my effort into fun ways that we can build wealth so we CAN do things we dream of. If you are someone who tends to set low expectations for yourself because you don’t believe you will amount to anything more than you are, give your head a shake. You are worth it. Mindfulness Will Free You From […]

What to Expect With Little to No Retirement Savings : Our June 2016 Budget Report

UNDERSTANDING HOW RETIREMENT WILL AFFECT YOU NOW IS BETTER THAN FINDING OUT LATER WHEN TIME IS NOT ON YOUR SIDE.   If you’re tired hearing about how much money you should have in your retirement savings to live comfortable in the golden years and want to hide because you’re not part of this elite group of savers- you’re not alone. Company pensions, in particular defined pension plans are becoming a perk of the past and Canadians are left will few options when it comes to retiring without living the rest of their years poking through a tight budget. I’d love to retire early but since the birth of our son we’ve seen our life goals change significantly where we were content living mortgage free in our house and living happily ever after. Now we are talking about buying a bigger house to have more room for our son to run around along with an in-ground pool. That means we’ll need to save even more money if we hope to pay cash for the next house or face added debt of a mortgage loan once again. Related: Retiring Early Should Never Be Expected I received an email from a reader who […]

There’s One Major Budget Tool Needed For Success : Our May 2016 Budget Report

MAKE MONEY NOW, SAVE IT, SPEND IT AND START ALL OVER AGAIN   If another month has come and gone and you have failed to balance your budget that doesn’t mean your efforts failed you. It simply means you need to focus on budget categories that need attention, bringing in more money and spending less. There is one tool more important than all of the above especially for people who give up on budgeting because it’s not working for them. If you’re not already doing this, you should be. Let me explain. For starters please don’t forget that there will never be a perfect budget as it will always have flaws. Even we have good months and bad months and we’re debt free which wasn’t an easy journey. What you have saved in the bank or with investments has nothing to do with whether you meet your monthly budget goals.   Find this tool and you’ll succeed   I’m afraid the one tool that you need to start using a budget is not an actual budget, that comes after and to be honest doesn’t take that much effort. With all the free budget spreadsheets available online it’s easy peasy. What […]

3 Budget Preparation Steps Not To Be Missed : Our April 2016 Budget Report

YOU CAN’T BUILD A BUDGET WITHOUT BLUEPRINTS   Budget preparation is an essential action step that if you pretend you don’t need you’ll never get past GO with your finances! Creating a personal budget doesn’t have to be complicated however the fine details certainly help to assess where existing or potential problems may sneak up.  Using a financial spreadsheet to document everything to do with money coming in and going out of your life is in my opinion an essential tool for everyone, even if you think you don’t need it. You do! Every month before you sit down to figure out your finances there are budget preparation steps that you don’t want to miss. The reason for this is because if you put half the effort into your monthly budget you’ll only get partial or potentially inaccurate results. Like you, budgeting was new for us years ago and took time for us to get to familiar with but over time we can safely say we are in a place where we confidently collect the monthly data we need. If you are one of those people who think you can search the web for a free budget template and think […]

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