How To Lower Household Expenses Without Guilt : Our March 2017 Budget Update

THINK BEFORE YOU ACT ESPECIALLY WITH YOUR FINANCES.   Giving up something doesn’t have to mean giving it up for good. One comment I often hear when I offer budget help is that it’s so hard to reduce household expenses without feeling guilty. This guilt often leads to even more debt being created because of letting people down, including themselves. The provider(s) may feel they are not good enough to support their family which creates inner turmoil and struggles. No one wants to say you have to give something up, especially to a child. Anyone who has direct access to money or that is affected by the money will feel loss when something has to be chopped. A reader asked me how to deal with guilt while I was assisting them behind the scenes with their monthly budget. I know she will read this but now she’s in a better place and has her budget under control and her family is on board.   Guilty or not guilty   How do you deal with financial guilt? You don’t- You jump over it and move on. You need to keep things under control and by doing so you’ll gain support by […]

A Balanced Budget Doesn’t Make It Unbreakable : January 2016 Monthly Budget Review

BALANCE IS NEVER A STEADY VARIABLE IN FINANCE   I often hear that a budget is ready to go once it is balanced but a balanced budget doesn’t mean that it can’t incur hiccups along the way. Someone asked me how we could possibly budget every single month. “Isn’t it time-consuming?” After a bit of practice it gets easier BUT is your life not worth the effort? Think about that for a second. Anything you do to better your life IS worth it. It’s not hard to make a budget look pretty with colours and numbers but numbers are like credit, once you spend it you are stuck with it. You still have to pay it back. What I’m trying to say is that anyone can say they have a balanced budget and still screw it up. Too many people rely on a fixed balanced budget and ignore it for the rest of the year as if it’s bulletproof.  This is a huge mistake in my opinion because when it comes time to review your budget the last thing you want to find out is that you messed up along the way and didn’t pick up the broken pieces. Even […]

PF Weekly Reading List #12- Canada Budget 2013, CBB vs RFI (Guacamole)

  My morning consisted of a hot cup of coffee (OK 3) and a read of the Canada Budget 2013 that was released Thursday. It’s quite long but I picked out a couple of bits to chat about today. After reading through it I found this quote from Minister of Finance Jim Flaherty,“We will remain focused on what matters to Canadians—jobs and economic growth, and ensuring Canada’s economic advantage today will translate into the long-term prosperity of tomorrow”  motivational from my perspective as permanent resident. Returning to a balanced budget seems optimistic throughout the budget plan with the deficit projected to drop each year and the government hoping to balance by 2015-2016 which they believe will strengthen Canada’s fiscal advantage. When I read this budget update these key words stood out- promote, extend, provide, enhance, build, help, improve, continue, invest, create, support, connect, opportunities, action, increase, invest, renew, introduce and initiative, all words that I believe create a unity or air of optimism. As we all know when creating a budget anything can happen so I’m sure many Canadians will be following this closely to see how well we stay true to this budget and how it unfolds over time. I believe a […]