Will signing a room rental agreement feel like moving home?

room rental bedroom

BEFORE RENTING A ROOM……   Signing a room rental agreement could feel like you are moving in with your parents but it could be worse, you could be moving in with Sheldon Cooper. Although renting a room is a great way to save money in the budget it also comes with pros and cons but it’s best to do your homework first before signing on the dotted line. Not all families or couples are the same so like the homeowner who may interview you to see if you are the right fit to move in you want to do the same. If you are someone who likes to live in clean, quiet environment then search out rooms for rent that fit that description. If you don’t mind kids and pets you can easily find a room for rent because lots of families are looking to supplement their income if they have a spare room in the house. Kids are costly after all. Today I have a fan question that came in that I was easily able to answer since I’ve been in his shoes before. I’m happy when the fans do their homework because not only are they saving themselves […]

Driving distractions and making your own rules of the road cost

driving car

NOT USING COMMON SENSE COSTS   Driving a vehicle takes skill and that’s why in Ontario a licence is not handed to you on a silver platter. If you factor in the cost of purchasing a car, obtaining auto insurance and licence plate stickers, just owning a vehicle can be expensive. Add in the cost of getting your driver’s licence, renewing it every five years, gas to be able to drive your vehicle as well repairs and regular maintenance and the cost of driving quickly goes up. So if owning and driving a car takes up a significant chunk of our budgets, why do some of us choose to make driving even more expensive than it already is? While these expensive choices eat away at our budgets they are often also unsafe.   Distracted driving   With the wide use of smart phones these days, distracted driving is most often referenced as ‘texting and driving’. Even though texting is what we most often hear about, it is not the only thing that classifies as distracted driving. Having two kids in the car can be a distraction I will admit, it’s hard to ignore. Sometimes they get upset because I can’t […]

How a recent car accident opened my eyes

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CAR CRASHES CHANGE YOUR LIFE   I was reading statistics on car accidents recently that says most drivers will be involved in at least 2 car accidents throughout their lifetime.   At the age of 31 I now fall into this statistic, being involved in my second car accident just a couple weeks ago now. I am hoping it will be the last. Being an experienced driver with over 14 years on the road neither of the car accidents I was involved in was I behind the wheel. I was the passenger both times and that has changed the way I feel about being a passenger. Read on. My first car crash was when I was 15 and was unavoidable. What happened was that some local livestock got loose from a farm and the dark country roads made for a crummy ending to my mother’s and my day. The most recent car accident I was involved in could have been avoided and was caused due to inexperience and panicking due to poor road conditions. Both car accidents have left me a cautious driver behind the wheel but the lack of control being a passenger in a vehicle has left me […]

Reader Question: Do I need a tenants insurance policy when I rent?

fire alarm, fire, symbol

It Pays To Do Your Research   A reader question was in my email inbox about tenants insurance and whether you need it or not if you are a renter. The most important tip I would give is to read the terms and conditions before you agree to anything. One thing many of us do is sign on the dotted line or agree to a policy without reading it in full until it comes time that you might need it and find out you’re not covered. Dear Mr.CBB I’m moving out of my parents house for the first time into my own apartment and was wondering if you could answer a question for me please. Do I need a tenants insurance policy when I rent? Thanks for any help you can give me. SG The easy answer is, Yes. Any time you rent an apartment, condo, town-house or house you need tenants insurance also called Renters Insurance. No matter what you think, you need it and don’t ignore the value of a cost-effective insurance policy. According to Insurance In Canada, Many Canadians 35 and under don’t have tenants insurance. When you sign the lease you should make sure that you have that handy […]

How Smoking Affected The Cost Of Our Life Insurance Premium

We all know the health risks of smoking followed by the dent it can put in the budget just to buy cigarettes. Did you also know that it costs smokers more money when they apply for life insurance, like it did for us? Who knew there would be such a significant cost difference for life insurance for a smoker and non smoker as you will later find out. It’s been over a year now that we butted out (January 29, 2102) and are both still smoke-free today. We will always give thanks to all the support along the way from not only each other but external motivation such as family, friends, our family doctor, the pharmacy team and of course The Smokers Helpline. The Smoking Memory As time went on smoking became less of a habit for us and more of a memory and now we don’t even think about it. We won’t lie and say that if someone sparks up a smoke that the smell is captivating because it still is. We smoked for quite a long time and every smoker knows that the first inhale is the best of a newly lit cigarette. When I’m at work it no longer bothers […]

12 Ways to Save Big Money on Car Insurance

GET THE BEST INSURANCE PREMIUM    Do you see a lot of car insurance ads on tv? Do you get confused wondering if you are getting the best rate for your vehicle?  My husband says there must be a lot of money in car insurance for the insurance companies to keep putting out so many ads. Car insurance is one expense that many people pay more for than they need to. What would it take for you to change your car insurance company? Would you make a change if you could save several hundred dollars a year?  It is definitely worth your time to look into it.   Car Insurance Canada   Where should you start looking for a Car Insurance Company? You can get free insurance quotes for the price of a phone call or search on the internet. Start your list with a basic search for car insurance on Kanetix where you can compare insurance quotes. Ask your friends, family, and co-workers if they are happy with their car insurance company and agent. Local agents can be very helpful if you have to make a claim and certainly don’t mind referrals. I’d say to compare a minimum of 3 companies with your current one, but the more you […]

Understanding Mortgage Insurances

There are a number of misconceptions in the world of mortgages when it comes to the word “insurance” let’s cover the various meanings off.  High Ratio Insurance: Also known as CMHC, mortgage default insurance, Portfolio Insurance In Canada, all Banks must have this insurance on any mortgage they lend on with less than 20% down payment.  It is a one-time premium paid by the borrower (normally included into the mortgage)to the insurance company that insures the lender if the borrower ever defaults on the mortgage, the lender gets all of their money back. Three companies in Canada offer this insurance, CMHC which is owned by the Government, as well as Genworth and Canada Guaranty.  CMHC insurance is backed 100% by the Canadian Government, the other two are 95% backed by the Government.  This has been a source of discussion recently as CMHC has neared it’s legal insurable portfolio limit of $600 billion in mortgages. If your mortgage is insured, what does that mean for you?  Very little unfortunately…the benefit is to the lender, though as long as you pay your mortgage, that insurance will never need to be used.  The one benefit to having a insured mortgage is that it […]

The What If’s in Life with Life Insurance- Staring out the Canadian Glass Window

What if I lose my job, What if I get injured, What if I die,What if this What if that.. blimey, are you tearing your hair out? Are you thinking about life insurance yet? Sometimes preparing for the future seems like it’s silly but perhaps it’s just a way to put off the inevitable. Some people I know didn’t think they needed life insurance or thought it was only something senior folks think about. Scenario:  Older Couple who never purchased Life Insurance Little Savings Age 50’s with children/grandchildren Mortgage until they are in their 70’s Little Investments Health Status- bad Heart Condition, Diabetes Source: EverydayHealth.com What we do know for sure is: We WILL all DIE! Face it mates, it’s going to happen whether you like it or not. ** Note: if you are reading this and have some sort of secret potion to prolong this send me a quick email so we can meet up** If you plan to remain single and childless for the rest of your life and have money put aside for your funeral costs then you can sweep the insurance idea under the mat. Do you really need to pay for Life Insurance when there […]