Why The Financial Super Can’t Solve Your Debt Problems : February Net Worth Update (+1.34%)

IT’S TIME TO CLEAN UP YOUR FINANCIAL HOUSE AND GET ON WITH LIVING.   If you have outstanding debt then you have debt problems however not all debt puts a consumer in crisis mode. If all you can afford is the minimum payment on your bills ask yourself if this is the life you want? If you answered yes then be on your way and do as you please. Just don’t be surprised if you get to point B (Bankruptcy) when everyone else is celebrating their debt problems with debt wins. You are the only person that can solve your debt problems but along the way you may just run into someone who is willing to lend a helping hand or even an ear for listening. I like to think of myself as The Financial Super to many of my readers. This person could also be family, friends, a boss, co-worker, stranger on a bench or even a crazy Brit personal finance blogger like me.   Don’t feel sorry feel strength   If you answered No, then great you’re the person I want to talk to today. No one likes to have debt problems that have spiraled out of control […]

5 Key Benefits of Debt Reduction To Help Motivate You : January 2017 Net Worth Update (+0.28%)

  FINDING WAYS TO BE HAPPY IS NOT ALWAYS AN EASY TASK ESPECIALLY WHEN YOU ARE IN THE DUMPS ABOUT YOUR MONEY SITUATION.   Building wealth from nothing is the path many of us will take but along the mystical route of debt reduction and increasing net worth motivation is a crucial tool for success. The only way to start building wealth is to explore debt reduction strategies for ways that will help with debt problems that may be causing you stress. I understand why someone might classify having debt under the good debt category and the bad debt category however managing debt means your debt to income ratio is all that matters. Related: Order your Canadian Credit Report Free If you are serious about getting help with debt don’t start making excuses as to why your personal debt is more important than the debt you incurred by getting an education. Debt is Debt and if you change your financial mindset to that of a successful business owner you’ll soon see how critical debt reduction is for all of your liabilities. I remember a time where I got to the point that I had no intentions of creating more debt […]

3 Advantages Of Starting A Monthly Net Worth Calculation : December 2016 Net Worth Update (+1.88%)

THERE’S ONLY ONE ACTION YOU NEED TO TAKE WITH YOUR MONEY AND THAT’S CONTROL.   It amazes me how many people want to know the net worth calculation of everyone else but themselves. It seems that unless you know you’re doing well financially seeing a net worth summary is pointless. Hardly the case, let me explain. The first thing Mrs. CBB says to me when I bring her our monthly net worth calculation is,”How did we do this month?” Since I’m the one who completes the monthly net worth calculation I have to break the news to her whether our net worth went up or we took a hit. The next question is always, why? If the number decreased I get a sigh but if it increased she smiles which is likely the response from most people. Money and emotions can run high especially if you’ve invested lots or you grew up in a financially struggling household. One thing I noticed is that no matter what the monthly net worth calculation displays she wants to know, Why? The notion that net worth must increase when you spend less and balance the budget is misleading. These are not the only financial […]

What It Feels Like To Have No Debt When Others Struggle : November 2016 Net Worth Update (+1.58%)

NO MATTER WHERE THE JOURNEY TAKES YOU FEEL THE ADVENTURES FOR THOSE WHO ARE NOT.   Do I know what it’s like to struggle financially and feel like I’m not going to get ahead? You’re damn right I do, but not the way you might be or someone else might be. Our struggles are our own but even then it can leave a lasting scar. Let me explain why and how I overcame these dark feelings and my importance to motivate others to feel their financial dreams too. I can’t remember a time during my teen years where having no debt was part of the equation in my day-to-day activities. Making money and saving it was what life was all about for me up until I bought my first flat at age 19. That’s when my financial radar kicked in and boy was it a shocker. Related: Was I too young when I bought my first property? It was then when I realized how debt could make you feel since I’d always paid cash for anything I needed. I don’t come from a wealthy family in fact most of my years were spent working to save for anything I needed, […]

6 Strategic Money Management Motivators To Keep Us Focused : October Net Worth Update (+0.55%)

THREE M’S THAT CAN CHANGE THE WAY YOU LOOK AT YOUR MONEY FOREVER.   Budget your money, Budget your money, Save, Save, Save we are told, but that’s only a portion of the solution to what so many people are feeling when it comes to feeling the financial crunch. Financial affairs should always be part of your daily routine however just because you use a budget doesn’t mean you will become successful at running it. It takes far more work than just budgeting to achieve your financial goals. In fact it takes a hell of a lot of work outside of the spreadsheet and whether your committed or not will show in the numbers. Let’s talk about the numbers for a moment especially since November is Financial Literacy Month across the globe. Numbers aren’t the only way you’re going to become rich. Come on now we all want to have money in the bank and being rich to you might mean you are debt free or have more than $100 in the bank. Whatever the case may be always remember that those numbers didn’t become what they are magically. They had to come from somewhere, somehow and most likely that […]

How We Used The Back Door To Get Ahead Financially : September Net Worth Update (+0.60%)

WE WANTED CHANGE AND WE HAD A CHOICE SO WE DECIDED TO TAKE A CHANCE.   The best use of the letter “C” that I’ve ever made to get ahead in life but it was far from easy. Wouldn’t it be nice to be debt free, financially independent and successful? You’re right it would be like removing a rock from over an ant only to see it still smiling with relief that someone figured out how to save it without crushing him to death. Just because you have a heavy weight sitting on your shoulders that keeps your mind over-thinking day and night doesn’t mean you are defeated and your life is over. It simply means you need to start thinking about taking risks while considering change in your life to get ahead of the money game. It sure would be nice walking through the front door after a lottery win, inheriting big money or graduating from school with a full-scholarship and career offer on the table. Oh, how that would be glorious and for some it is a reality but don’t get your hopes up on dreams unless you follow through to bring them to reality. Since I’ve moved […]

5 Reasons Why You Should Build Wealth From The Inside Out : August Net Worth Update (+0.95%)

  BUILDING WEALTH FROM NOTHING IS NOT IMPOSSIBLE AND WORTH THE CHALLENGE   You can’t be financially successful unless you’ve created a personal manual and mastered it which is why it’s very important to build wealth from the inside out. What does all this mean? It means you need to have a purpose before you can fulfill your financial dreams and the only way to achieve this starts with-in by writing a story. To build wealth you must do 3 things; Plan it, Master it, Live it.   Build wealth without fear of failure   1. Investigate step by step the reasons why you want to be financially free. Once you have a clear view of your path or even an inkling of where you want to be it will help you take the first step. For example when Mrs. CBB and I decided to use a budget we talked about why we wanted to use one and wrote down some key points to make sure we were on the same page in the manual we were creating to build wealth. 2. Create a strategy and a sketch It’s great that you have ideas but you need action steps to […]

How To Become Financially Secure So You Forget It’s Payday : June Net Worth Update (+0.74%)

FOCUS ON LIFE NOT JUST YOUR BANK ACCOUNT   I know people who count down the hours before payday when their bank account will be back in business. It’s not the best spot to be in financially because you are living payday to payday but the struggle is real for so many Canadians. It becomes a vicious circle until you find a way to put the brakes on a stress that is probably weighing you down. Becoming financially secure is a dream for just about everyone so we can forget the daily worries of car payments, mortgage, credit card bills and a host of other debts that cause stress-related issues, relationship issues and potentially depression. No one likes to feel that they are not in control of their lives especially where money is concerned. What does financially secure really mean? Well, I can tell you that it doesn’t mean that you have a job that pays you big bucks. That misconception is what gets people into financial trouble in the first place. This just happened, check it out.   It takes more than an income to stay away from debt   While chatting to a colleague at work briefly the […]