Ontario Budget 2016 Will Affect Your Household Budget : The Saturday Weekend Review #161

ROLL OUT THE FINANCIAL RED CARPET   If you don’t think your household budget will be affected by the Ontario Budget 2016, think again. For the most part there are your typical increases but with every extra dollar spent that’s money you must account for. The new Ontario Budget 2016 lit up the internet and social media on Thursday when highlights of the new budget were announced. To be honest I wasn’t sitting by the computer waiting for the new Ontario Budget it kind of hit me in the face. It generated such a buzz that my Twitter and Facebook feed was littered with posts and comments. So over a cup of coffee I read article after article about the pros and cons but the bickering between students was outrageous on some Facebook pages. When money is concerned you can’t please everyone and the government knows this. You’re almost taking from one pot to fill another and hoping that they balance themselves. The deficit for 2016-17 is projected to come in at $4.3 billion and be reduced to zero the following fiscal year Ontario’s net debt will hit $308 billion in 2016-17, the largest of any sub-national jurisdiction in the […]

Stay at home new mom causing financial strain and marital upset

LIFE CHANGES WHEN THE STICK IS POSITIVE   So many people get divorced after having kids and now I know why, parenting is not easy but 110% worth the effort. I don’t think there is anything that could prepare you for becoming a parent, not even having lots of siblings. When we found out we were having a baby we knew that our lives were going to change, including our finances. My wife also knew that she was going to be a stay-at-home new mom and feared not knowing other moms to hang out with. Over the past year she has met plenty of other moms on social media, at the park and other community events. She says it’s getting easier but she does miss getting out whenever she is inside for a few days at a time with our son. These days we tend to do lots together as a family which helps our relationship to grow and our son build a bond with the two of us. Mrs.CBB is a people person so it’s important for her to get out of the house to keep her spirits up even though our son is the light of her life. […]

How far would you go to fund your child’s education? : The Saturday weekend review #75

MAKING SACRIFICES FOR YOUR CHILD   Education in Canada isn’t getting any cheaper and parents are struggling to find ways to help their kids financially. Not all parents feel the need to fund their kids’ education but many would do just about anything. I wasn’t surprised when I read an online article sharing results of a survey of over 600 Canadian families by Abacus Data. The survey was of parents who had children in post-secondary education, on their way to school or have attended in the past 5 years. We know that debt looms high in many Canadian households plus saving for a child’s education can make any budget tight. With over 74% of parents saying they feel financially responsible to help pay for their kids’ education I’m wasn’t shocked to read how far some parents are willing to go to make sure the money is available. I’m not sure if I agree with them all but one thing I am sure of is that if you have a child and can set money aside into a Registered Education Savings Plan (RESP) as soon as they are born you don’t have to do wild and wacky things to find money […]