Why I’m A Stay At Home Parent And Our Budget Compromises

PARENTING MEANS MAKING DECISIONS THAT ARE FINANCIALLY AND EMOTIONALLY FITTING FOR THE ENTIRE FAMILY   Deciding to be a stay at home parent was very nerve-wracking process for my husband I but happy we took steps to understand it. Don’t for a second think that you are alone when trying to figure out if being a single-income family is right for you. There is no definite right or wrong answer but a couple of things you need to consider.   Lifestyle choice   Having a parent stay home full-time with the new little bundle(s) of joy is a lifestyle choice, some parents are quite happy putting their kids in daycare/in the care of family for work hours as soon as their parental leave is expired and that’s fine. Initially when I found out I was pregnant the first idea that we agreed on was that we wanted me to be a stay at home mom until our little guy was old enough to be in school part-time. And after throwing around various numbers, costs and logistics of getting to and from work/daycare, we discovered that financially it would work for us.   Money, money and more money!   Most of us are really not […]

Money Fights and Money Problems

Money Fights and Money Problems It’s been said that “money fights and money problems” are one of the top causes of divorce. And as someone who went through a divorce myself, I can tell you those things are very stressful — especially if you have problems with debt, overspending, income, or even just very different points of view about how money should be handled in general. Yet I don’t believe that relationships actually fail because of money issues. Instead, I think that money fights and money problems are more often symptoms of something deeper that may be wrong within the relationship — especially when they happen on a regular basis. Some examples Let’s look at budgeting, for example. If one partner is really into creating a detailed budget, and the other nods and smiles and agrees to the budget but then refuses to follow it in reality month after month, you’ve got a problem. And it’s not about the budget. Yet the resulting fights often are. The one who blew the budget justifies their actions (maybe by stating that the budget is too strict, or by accusing the other person of trying to control them) and the one who stuck to […]

How To Help Your Wedding Party Save Money!

WEDDING BELLS COST MONEY   Weddings are expensive events and they are not getting cheaper any time soon for the couple and the wedding party. Some couples want a beautiful wedding with all the bells and whistles, and some want to wed as frugally as possible. When we got married, we tried to aim for something in between – and yes, we saved for the entire wedding up front. While the bride and groom certainly should consider their own costs ie: the wedding dress, suit, flowers, venue, food, accommodations just to mention a few they should also be mindful of the costs of those very important folks – the wedding party. Accepting the role to take part in a wedding party can really add up these days, but there are ways to keep costs down. Below are some ways that may help the wedding party and which we used when we got married.   Wedding Party Clothes   Don’t ask your wedding party to buy Italian lace dresses that cost $500  or strange coloured suits that happen to match your tablecloths unless you plan to pay for them. I let my bridesmaids select their own dresses (I went with black since […]

Just Married! We’re Newlyweds And Need A Budget

Were you Just Married or planning to tie the knot soon? Get yourselves on the right financial track with a little preparation today. It’s that time of year Wedding Bells are ringing all over the world. Bliss is happiness until all the hoopla fades to the background. I sometimes get panic emails from newlywed couples looking for tips on budgeting or tips to help them out of a financial mess they’ve created. I do however always suggest they seek professional guidance as I am merely a man who understands money and budgets. None the less they want answers or anything to help them see a ray of light. I typically ask them some questions right from the start. 1-Why do you want to budget? 2-How much debt do you have? 3-Are you both committed to budgeting? 4-Have you ever used a budget before? 5- Do you know your credit scores? These questions help me to get a better understanding of their budgeting knowledge and a small picture of their debt and spending habits. It also helps me to understand who is in charge and whether or not they keep any money secrets. I’m a firm believer that couples should understand their finances before […]

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 […]

Canadian Students College or University Bound Prepare Your Finances NOW!

I remember when I was a young bloke and on my way to University the world was in the palm of my hands (so I thought).  I truly believe I had my head on straight back then and today given the way I continue to pay myself first. That doesn’t’ ring true for most of my school mates, at least what I witnessed even here in Canada. I went back to school for 5 years and learned that debt is debt no matter  what country you live in. Most of my mates who did work while attending University simply blew the money on pints of beer down at the pub and buying crap they didn’t need. I was a simple guy who just wanted an education and a good career. Before cutting the umbilical cord from me mum and dad to start what would be a journey of reality I set some clear goals for myself. I knew I didn’t want to come out of school with any debt. I was young when I started to learn about the value of money so this was a must. I worked on weekends and in the evening to save money for University. I […]

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