Savings competitions helped couple save $20k to buy a house

couple savings competitions

MONEY COMPETITIONS CAN BE FUN   I’ll admit that I was always the competitive type growing up because I wanted to be successful at whatever I did. When I did participate in something I did it to the best of my ability and tried to surpass any goals that I set for myself. I could easily say money is a big part of my life in the sense that we need it to survive so I compete to keep earning it while building my career. I don’t challenge myself to earn a certain amount of money although we do set financial goals for ourselves. If it happens, it happens but we do live a frugal lifestyle and use a budget to help the process along. If I didn’t push myself to live each day to the max my life would be boring. My wife would never be surprised with the special things I do for her to make her day easier. Our son would not have the dad that goes above and beyond for him if I didn’t have some form of competitive nature in me. I want the best for my family so I work hard for them every […]

Peer-Pressured Party boy is failing school with $30,000 debt

Nightclub party University education

POPULARITY CAN BE COSTLY   Graduating from high school and moving on to higher education is life-changing for many young people who then turn to their friends for support. I remember when I was getting ready to move on from secondary school to University  in the UK I had no idea what I wanted to do with my life. I completed some education research through my school and finally decided on a career path that I wanted to take and a school that I thought I might enjoy going to.   Education or Friends   I had friends growing up but I was never one who was always out partying because my time was very limited. My parents always kept me busy and when I went on to University I kept myself busy with my studies and my part-time job. I needed a balance of friendship but that was small compared to wanting to graduate and find a good job. Some but not all the friends that I did have always wanted to go to the clubs drinking but I was never into all of that. I’d go once in a while but it wasn’t really my thing, thankfully. Personally […]

How one guys financial problems became his hobby

financial problems

THERE’S NO PERFECT FINANCIAL MODEL   Let’s face it, if you owe money to people you have financial problems that need to be addressed and attacked with a plan. Your money issues might not necessarily be problems that will cause you financial stress. On the other hand if your debt keeps growing you may want to re-think how certain events might affect your stress levels. Finances are for life not just until you are debt free because financial problems never really go away they just get masked with dreams. Financial problems may be considered consumer debt, facing bankruptcy, creditors calling, owing money to family and friends, no money to pay bills and even the unknown. The list is endless BUT people with little to no money aren’t the only people with financial problems. When you are in debt that can easily change if you lose your job and can’t pay the money you owe. Can you see how that might be a problem?  The birth of Canadian Budget Binder was created to share a journey of inspiration, new life and financial problems. I’m that “guy” Mr.CBB A.K.A (MO), welcome to my blogging hobby! Since the first blog post at CBB […]

Single Millionaire Paid The Price To Get Where He Is Today

dinner plate servi ce price paid

WE ALL HAVE A STORY   People may criticize the way you live your life but they might not know the price you paid to get where you are today. Stories often go untold because people are shy to say what they had to endure to become the person they are. I don’t talk about my life growing up with my friends but if they want to talk to me about theirs I’m happy to listen. It’s quite amazing what you learn about people once they open up about their upbringing and past.   The price you pay   You might have heard or read about those rags to riches stories which for some people hit home because they too were faced with situations that were unique but they overcame them. You don’t have to be a superstar to be deemed successful today all you need to do is believe in yourself. Those that don’t put in the effort to achieve their goals are often the people who put down those who pushed the limits to achieve their own. Believing that everyone with cash has or had the easy life is absurd. Just like others some of these rich people […]

Free Trial Offer Costs Woman $232 in Credit Card Charges

free trial offer

FREE MEANS YOU PAY NOTHING!   Just because someone says something is free doesn’t mean it truly is free. We hear and see free trial offers all the time for certain products although not all are scams be cautious or it may cost you big bucks. Most often we get suckered into buying something especially if the price is right and marketers know that adding in the word “free” is a sure-fire way to reel people in.   Believing what you read   Living on a budget is not always easy but it doesn’t mean that you have to cut corners or believe everything you read or hear just to save a few dollars. The internet is the worst place for people to shop sometimes because it’s easy to get caught up in fake reviews of products or celebrity endorsements like this CBB fan who wrote to me so she could share her story with all of you. To be honest I have never really given much thought to free trial offers before except for magazines from Rogers but once that free magazine subscription was done we opted not to renew. We didn’t however give out any credit card information […]

My wife is blowing my salary increase before I get it!

salary increase

IN ONE HAND OUT THE OTHER…   We all go to work every day in hopes that at some point we get a raise because a salary increase means we can do more with our money. What we don’t expect is that when it happens that it’s gone before the money hits the bank account. Today’s post is from my reader mail bag. I found this question below to be interesting as we are going through something similar. Just recently I wrote a salary increase letter to my employer because I thought it was about time I got an increase. Some people may shy away from doing this but don’t as you might be waiting forever for a raise. I am getting one but I’m just waiting for the paperwork to go through human resources, red tape. If you are wondering what I wrote in that letter it was pretty simple, why I deserved a salary increase but not before sharing what I’ve done for the organization over the past year. When you find out that you are accepted for a salary increase it makes you proud knowing that your hard work is important to the organization. I can’t imagine […]

A woman’s financial success leads to jealous friends

woman financial success jealous friends

A JEALOUS PERSONALITY IS LIKE FUEL   Having jealous friends might not land you at the top of the phone calling lists to hang out but are they really your friends then? Fan mail really drives me to continue learning about finance and the personalities behind the people who want to get out of debt. I never push a budget on anyone but I do try to motivate people to set goals in life because personal goals no matter short-term or long-term mean something important if you took the time to set them. Today I have a young lady who emailed me about a problem she is having with some of her friends. Feeling isolated in a group of friends is not uncommon especially when your career takes off, you move cities or if they become jealous friends because of their financial pitfalls. Dear Mr.CBB I’ve been quite intrigued by your blog back a couple of years ago when you started your budgeting series because that is the time I really started to get my finances in order. As a recent University graduate living in Ontario, Canada I found that you and I were similar in the sense that we […]

How to make money fast without going crazy

Make Money in wallet

MAKE MONEY WITH THESE SMART TIPS   If you need extra cash and you want to make money fast put on your thinking cap. Turn your skills into cash and your junk into gold with these tips. I have a reader question today and 28 year-old Chris wants to know how to make money fast without stress to pay off his bills aside from his full-time job. He says he’s been following Canadian Budget Binder since the start and wants to start a  debt-free life as early as possible while paying down his mortgage. It’s nice to know that we inspire the fans although that’s essentially all we are here for. Chris has a good question today and there is no one right answer but there are ways to make money to help pay down debts. Making extra money might not produce a windfall but I can tell you with the extra money we made over the years it helped us to pay off our mortgage in 5 years. All the spare cash we made went to small projects, entertainment or paying off small debts. Money is money so if you can scoop up a few extra bucks here and […]

What My Life Is Like With Terrible Credit

I am a person living with debt that I can’t pay and terrible credit. I am a single mother of a now 17-year-old son soon to be 18. Over the years there was never enough money and debt just seemed to keep piling up and I wasn’t sure what to do about it. I needed the car to get my son to daycare, then me to work. It  seemed every time I turned around there was a repair that needed to be made on it. My one credit card with the highest balance which is now in collections was typically used for repairs to my vehicle at the time. I was working full-time to pay some of the mechanic’s bills as well as to keep paying my everyday bills and putting food on the table which was hardly enough. That meant that the repair bills often ended up on the credit card. I eventually refrained from using that credit card because the balance was just too high but luckily had a low-interest rate of only 10%. What’s worse is the car had to be junked as it was no longer in a state of repair. I haven’t had a vehicle since that time […]

How I Reduced Our Grocery Budget From $1100 To $600 In 6 Months

how i reduced our grocery budget from 1100 to 600 in 5 months(1)

ABOUT OUR FAMILY   We are on a very tight budget with food being the second greatest expense, preceded only by our mortgage. My husband and I have spent most of our family years raising our kids and figured we would have plenty of time to save for retirement. Retirement has arrived for my husband and is staring me in the face and we are trying to get our financial house in order. Our kids are the joy of our lives but raising 4 of them has proven to be costlier than we would ever have imagined. This is our story about how we are beginning to climb out of debt and onto the road towards financial freedom. It is never too late to take control of your financial future. My family is a single income family of 5 (two parents and three grown kids at home). Last summer, I sat bemoaning my situation (out of control debt and never enough money at the end of the month) and wondering where my money, which in theory should be sufficient to meet our needs, went. I am a professional person and make a modestly decent income, but through the wonder of the […]