Poverty Stories: Growing Up Poor Made Me Rich But Not Happy

SOMETIMES WE KEEP LOCKED UP THINGS THAT HURT US THE MOST.   Fan Submission to Poverty Stories My parents married when they were 17 years old back in the early 70’s and lived in a town just outside of Toronto. Shortly after I was born into what was a loving family environment that did what normal families do. This was the happiest and scariest moments for my parents because financially they were just getting started. Luckily both of their parents lived in the same city and they were able to get help from them with babysitting and anything else they needed. Both my parents are the youngest of many siblings who watched their brothers and sisters grow up to become successful in their careers.   Walk down the aisle   Back in the early 60’s and 70’s it wasn’t uncommon to get married before the age of 20 years old so naturally having a baby was the next step. My mother was an accomplished musician among her peers and my father followed his passion as a plumber in the trades. By the time they were in their mid-twenties they were both working steady jobs and life was getting busy. My […]

Dangers Of Role-Playing The Rich Life Without Financial Peace : The Saturday Weekend Review #213

WHEN THE CURTAINS CLOSE WHO WILL BE THERE TO SAVE YOU?   I’ve learned that there is no in-between for people when it comes to financial success and what one would consider money failure. Many people either consider themselves rich or poor and that’s what they base financial success on rather than being comfortable in the middle. I’m not going to get into a spiel (shocking I know) about how to save money or get out of debt because I’m sure by now you should know how-stop spending money. Instead I want to focus on financial peace and what it means to you. Have you ever thought about what would bring you financial peace in your life instead of stress? If yes, how are you working towards attaining financial peace? If no, stop trying to figure it all out or pretending you’re someone you’re not for the sake of playing the lead role in a movie about your life that doesn’t exist. Related: How to say No, I’m on a budget. Unanswered questions most often become swept behind and forgotten until it’s too late. Why is it so hard for someone to say, ‘I’m broke‘ or “I just don’t have […]

Achieve Financial Success By Leaving Money Sins Behind : The Saturday Weekend Review #208

THE EASIEST WAY TO CLIMB UP IS TO START CLIMBING WITHOUT FEAR.   Are you a good person who fell off the financial train but want to finish what you started before being side-tracked? No one sets out wanting to create debt that could carry them into retirement if not paid back in a timely fashion. Many retire today with debt because they simply couldn’t keep up with expenses vs. income or they were spending too much money and didn’t adjust their lifestyle accordingly. It’s far easier to create the life that we want even if that means with money we don’t have rather than putting the wheels into motion so it becomes reality. Related: A Beginners Guide To Early Retirement I bumped into our neighbour the other day and I asked her how she was doing and if her daughter was still living with her. She smirked a bit and said yes she is still living with her but planning to move into an apartment by the end of May. That’s great news to which she replied, “She’s come a long way and now that her financial situation has improved.” I’m known as the go-to guy when someone has […]

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 […]

Husband is hoarding money and jeopardizing relationship

DEBT SCARES MAN TO THE BANK   Believe it or not there are people who have money hoarding tendencies because a fear of living without cash can push people over the edge. Just because someone is in debt doesn’t mean they are OK with it even though some people think that having consumer debt is normal. Some people get very ill thinking about their debt and it can cause great stress in their life mostly affecting their health, job and relationships/family. What else could money possibly affect? It’s hard to find a middle ground sometimes when money becomes the reason for living. I’m not saying money is NOT important because it is but for those who scare themselves off a cliff it’s serious business. Having millions of dollars in the bank when retirement comes around would be great but you don’t have to live like a miser to get you there. Even though compulsive hoarding is defined as hanging on to stuff that others may view as junk hoarding money is another way of stashing cash which someone is too afraid to spend unless they are forced to. ie: Paying the bills to live . Maybe hoarding might not be […]

Million Dollar Baby: Should travel insurance have protected them? : The Saturday Weekend Review #98

 A MEDICAL BILL SO BIG…   We believe travellers insurance protects us but this story should be an eye-opener for all travellers going to the USA and abroad from Canada. Baby Reece’s parents a couple from Saskatchewan found out the hard way just how easy it is to spend a million dollars after giving birth while away from Canadian soil. I have to talk about this story today because I know so many people who travel to the USA for one reason or another if even for a short trip to save money in their budget. With Black Friday upon us and the holiday season many Canadians cross the border to find deals but be careful when leaving Canada. How could the birth of a child cost almost one million dollars when one has travel insurance?   Travel Insurance Surprise   Jennifer Huculak-Kimmel from Saskatchewan was shocked to get an enormous medical bill after she went into labour prematurely October 2013 while travelling in Hawaii. Jennifer was 6 months pregnant when she gave birth which meant her baby was put in the NICU for 2 months. The bill for this stay was nearly one million dollars! I wasn’t shocked to […]

How to be your own money manager

MONEY MANAGING IS PART OF LIFE   Becoming your own money manager is something that you should get used to especially if you plan to live as debt free of a life as possible. I talked about the Money Box a few days back and that’s really where my passion for finance was born and the money manager in me came out. Learning about finances is not so bad when you are watching television, reading the paper, online posts or even in magazines as long as it’s not about you. Many people don’t want to learn about their own finances because they don’t want to know how far in debt they are and for some people, they simply don’t care about money. They could care less if they have to claim bankruptcy over and over again. You may think it becomes a game when bankruptcy becomes the norm and to be honest if you can’t control your spending you really need to seek help. Bankruptcy is not always the answer to the problem it’s more of a band-aid approach to solve the stresses of bill collectors knocking on your door. I know a couple at work who had it all, […]

When the sole provider of the house loses their job

BE ONE STEP AHEAD OF THE GAME   When you are the sole provider of the house and you lose your job you’re now faced with a bigger reality that I hope you are prepared for. I enjoy getting emails from my fans and just this weekend I received one that really was unique and it’s a situation many people fear. I’ve talked about strategies to survive unemployment, job loss and disability when it comes to work and covered everything from emotional well-being, budgeting to emergency savings. A Canadian Budget Binder fan sent me an email the other day telling me her husband who is the sole provider for the family lost his job. She was thankful that she was ahead with the bills and had some savings to get them by but she was not sure where to turn next. They are not Canadians rather live in the USA and so they both took on the only jobs they could find which are commission based. The reality is that no matter where you live this could happen to you. This could happen to a single person, or a single parent with only one income.   Losing your job   […]