How To Keep Debt From Causing A Marriage Crisis

EVERY COUPLE HAS A STORY TO TELL BUT YOU PROBABLY WON’T HEAR ABOUT IT.   A marriage crisis is about to turn your world upside down, so what do you do? You write me an email looking for a twinkle of hope. Marriage is knowing you’re in love with someone but not sure if you can continue to love them based on events that occur in future dealings with-in your relationship. This is where YOU needs to become WE. What does this all mean? This means that anything can happen even to couples who are in love. One minute you’re all mushy about each other and the next you’re ringing up the lawyer because you no longer can stand each other. The annual amount of divorces in Canada tops 70,000 according to the feldstein-family-law-divorce-fact-sheet-2016. Not only that but 33% of first marriages end in divorce. Some of the reasons for divorce documented from Stats Canada in the fact sheet states the following; Communication breakdown Unreasonable behaviour Infidelity Midlife crisis Financial issues Physical, psychological or emotional abuse Relationship “runs out of steam”/fall out of love Where did you both go wrong? Most often lack of communication leads the way to a bigger […]

5 Vital Personal Budget Audit Questions To Consider

DEBT FREEDOM CAN HAPPEN AS LONG AS YOU PREPARE, EXECUTE AND EVALUATE.   A budget audit really is serious stuff not to be missed or forgotten. No excuses. If you don’t care about how your budget is working for you stop reading this post now and get on with your day. If debt freedom is on your to-do list then continue to learn how we audit our budget and the importance of continuing to do so even when you have no debt. Become a leader and do not simply focus on short-term results or you’ll miss important financial opportunities. Giving your budget the once-over is never enough especially if you are serious about saving money, paying bills and becoming debt free so you can continue to build wealth. This is your opportunity to be the big boss, the one in charge of something so important that it could make or break you financially. How do you think the rich get richer? Well, not all of them do but when you have money you can build your empire if you do it right. I can assure you the financially savvy rich folk don’t spend money frivolously unless they have so much […]

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 […]

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 […]

Become Debt Free By Asking The Mirror These 3 Questions : The Saturday Weekend Review #192

FIRST YOU NEED TO STOP GOING INTO DEBT BEFORE YOU CAN GET OUT OF IT.   Now is the best time to become debt free and unleash yourself from the daily stress that accompanies owing money for stuff you’ve bought or already enjoyed. Debt is a dark place because you always feel attached to someone who can make or break you financially. Some people feel vulnerable because of money and having to take out loans or putting purchases on credit and they should be. We all are susceptible to the dark alley that accompanies debt if it’s not paid back to whom it may concern. As fast as it’s given everything we own can be taken away. That’s terrifying. Focusing on ways to work harder for ourselves so we don’t have to rely on credit or creating unnecessary debt is possible but without your support you’ll never succeed. Having a student loan or a mortgage is just as important as consumer debt however these are debts that most people have. We take these debts on in hopes of getting ahead financially with a solid career and having equity in real estate. If you want to become debt free and wipe […]

Fixed Income Seniors Struggle To Learn How To Budget

DON’T LEAVE YOUR FINANCIAL DREAMS SCATTERED ON THE GROUND   Learning how to budget after never using one has caused two seniors we know anxiety over their financial future. If they could do it all over again they would change so much about the way they managed their money. They know they can’t turn back the clock and must face the reality of living on a fixed income with little to no retirement savings and lots of grandchildren. They are not alone as many Canadians on a fixed income struggle to make ends meet and must juggle their money to balance their budget, if they use one. Living on a fixed income is a big deal especially for seniors or individuals who rely on money from sources other than from an employer. Cost-of-living increases can cripple those who live on a fixed income especially if they have no other sources of extra money to take from. People are talking about finance and income so much these days particularly in Ontario because most people are struggling with soaring utility costs and high debt loads. Comparing a Hydro bill to a mortgage payment is not unusual for some homeowners these days. If […]

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 […]

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 […]