3 Budget Negotiations That Saved Us Money : Our March 2016 Budget Review

YOUR MONEY WON’T WORK BY ITSELF SO GIVE IT A PUSH   Treat your finances like you own a company and you are the CEO. Budget negotiations should be part of everyone’s financial plan not just the government and business owners. You may be working for someone else making them rich but when it comes to your money there are ways to achieve the same successes but on a personal level.  It’s amazing how many people take their budget for granted and accept the bills they are given instead of putting the green light on budget negotiations. You’ve worked hard for your money now make your money work for you. Don’t let your cash float away without seeing how much you can save. You don’t have to be an outspoken customer to get a better deal. Before you attack (take that with a grain of salt) you must be armed with details and the outcome you’d like from your budget negotiations. If you need to balance your budget but you’re off by $50 try to see if you can get your bundled-telecommunications services lowered. Make a deal. The top way to trim budget expenses is by negotiating the interest rates […]

Property Tax Bill-One Bill You’ll Never Burn : February 2016 Monthly Budget Review

THE TAX MAN HANGS AROUND FOR LIFE   In February like clock-work we get a letter in the post from the city about our new tax rate along with payment dates for our property tax bill. Whether it’s paying for income tax, property tax, product tax or anything that says tax you know you’ll never get away with dodging it. Which is why there are two certainties in life: death and taxes Every year the property tax bill gets higher and higher but that’s expected I suppose since it goes to pay for various things in the community such as municipal services, police, fire, transit and so on. I received an email from a young couple in the process of buying their first home and they wanted to know what the best way was to pay for their property tax bill. Dear Mr.CBB, My wife and I are just finalizing the sale of our new home and were wondering how we should pay for our property tax bill in order for our budget to balance. What else is there that we need to know about our new property and our tax bill? Thanks for any tips. -Chris and Angela If […]

A Balanced Budget Doesn’t Make It Unbreakable : January 2016 Monthly Budget Review

BALANCE IS NEVER A STEADY VARIABLE IN FINANCE   I often hear that a budget is ready to go once it is balanced but a balanced budget doesn’t mean that it can’t incur hiccups along the way. Someone asked me how we could possibly budget every single month. “Isn’t it time-consuming?” After a bit of practice it gets easier BUT is your life not worth the effort? Think about that for a second. Anything you do to better your life IS worth it. It’s not hard to make a budget look pretty with colours and numbers but numbers are like credit, once you spend it you are stuck with it. You still have to pay it back. What I’m trying to say is that anyone can say they have a balanced budget and still screw it up. Too many people rely on a fixed balanced budget and ignore it for the rest of the year as if it’s bulletproof.  This is a huge mistake in my opinion because when it comes time to review your budget the last thing you want to find out is that you messed up along the way and didn’t pick up the broken pieces. Even […]

New Budget 2016 and 2015 Surprises and Fails : December 2015 Budget Update

START YOUR BUDGET 2016 NOW   Our updated budget 2016 has some changes which was expected because 2015 proved that prices are steadily going up so we’ve had to adjust our numbers to reflect this change. Unless you aren’t big on reading or watching the news maybe you’ve noticed that prices are skyrocketing, especially at the grocery store. In 2016 you can expect to add an additional $345 to your grocery budget for the year because of these increases. It’s not just food either. In 2015 it seemed like every time we turned around something was more expensive. If prices go up a dollar here or a couple bucks there that still accumulates as extra expenses in our budget especially since we budget accordingly. The reality is that you are never going to have a perfect budget so always leaving some room for price increases is critical.   Our free gift to you   Every year I wonder how we can change our budget plan to reflect something new and honestly there isn’t much to change. I’ve got a simple budget that I created years ago and that has been downloaded free by thousands of people around the world. All […]

How We Effectively Curb Spending When We Have To : November 2015 Budget Update

PUT YOURSELF IN FRONT OF MONEY SO YOU’RE ALWAYS ONE STEP AHEAD   When we have to curb spending in our budget there are ways that have effectively helped us conquer the money demons over the years. Essentially a budget is a tool that we use to track our cash flow. We want to know what’s coming in, what’s going out and how much money is staying. These financial numbers were crucial to our debt freedom success over the years. Budgeting may get negative connotations from those who don’t believe in it but for many people a budget is a financial life-saver. What I believe is that if we hadn’t used our budget we’d still have a mortgage and other debts to pay off. Sure, there are other ways to track your finances but for us working with numbers in our head or guesstimating wasn’t getting us to our end goal fast enough. Now that 2015 is drawing to a close we will have a full year of budget results to evaluate for the upcoming new year. Waiting until the end of the year to curb spending is not ideal but if you are budget ninjas like we are a […]

How to handle negative people who criticize your budget : October 2015 Budget Update

BUTT OUT COMES TO MIND…   In most ways we have a combination of positive and negative character traits although not everyone recognizes when the negatives outweighs the positive. When we let negative traits suffocate us we find it difficult to see the reasoning that others have for doing what they do whether you believe in it or not. There will always be people who criticize and it’s up to the individual how they handle these situations. Just recently I was helping a fan get started with our free budget download because she wanted to test our budget. In conversation I learned that over the past year she has saved $5000 and paid off over $8000 worth of consumer debt. She was a mall rat and every opportunity she could get shopping was where you would find her. These days she’s sitting behind her computer figuring out how to budget and how much money she can spend every month. Kudos to her and others that do the same because it takes a determined person to push themselves to get of debt and fight through outside turmoil. In her case… Her boyfriend is not happy about the budgeting because he is […]

How many budget categories should I have? : Sept 2015 Budget Update

YOU ARE THE BUDGET MAKER   Being the budget maker means that you are in control of your budget including how many budget categories you decide to use every month. I counted how many budget categories we have in our monthly budget and came up with 34. Honestly, I thought there would be more than what there actually is. When I designed our budget years ago the thought never crossed our mind to only have a few budget categories. I have seen many budgets out there that might only cover common fixed expenses and everything else is bundled into one or two other budget categories. That type of budget would never work for our family. Since we are so picky about the fine detail and wanting to know exactly where our money is going every month I thought we did reasonably well with as many budget categories that we created. I’ve also seen some budgets that have so many categories that I wonder if we’re doing enough. We are our own worst critics when it comes to our finances however it’s all about finding what works for you. I received a short email from a fan who wanted to ask […]

When should you evaluate your monthly budget? : August 2015 Budget Update

EVERYTHING TO DO WITH MONEY CHANGES   When should a monthly budget be evaluated? This seems to be the hot question the last few months of every year in my inbox. I wish I had all the right answers for those fans who want to become debt free and put all their financial worries behind them. In all honesty money concerns never end but what I do have is our experiences to share. If you haven’t realized it yet you will notice that everything to do with your money will change as will the way you think about your finances. Over the years we have found that we change the way we think about our money and how we manage it. If you rely on a monthly budget to manage your finances a serious evaluation must be done at the end of the year. What does this mean? It means you look at every budget month for the year to see where you can make improvements. You will also be armed with numbers which is critical to the success of building a monthly budget for the new year. The first year we started our monthly budget we realized that we […]

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