How to handle negative people who criticize your budget : October 2015 Budget Update

BUTT OUT COMES TO MIND…   In most ways we have a combination of positive and negative character traits although not everyone recognizes when the negatives outweighs the positive. When we let negative traits suffocate us we find it difficult to see the reasoning that others have for doing what they do whether you believe in it or not. There will always be people who criticize and it’s up to the individual how they handle these situations. Just recently I was helping a fan get started with our free budget download because she wanted to test our budget. In conversation I learned that over the past year she has saved $5000 and paid off over $8000 worth of consumer debt. She was a mall rat and every opportunity she could get shopping was where you would find her. These days she’s sitting behind her computer figuring out how to budget and how much money she can spend every month. Kudos to her and others that do the same because it takes a determined person to push themselves to get of debt and fight through outside turmoil. In her case… Her boyfriend is not happy about the budgeting because he is […]

How I saved $336 by being my own mechanic : March 2015 Budget Update

FIXING YOUR OWN STUFF   We all know that car maintenance costs can rip a chunk from the budget but what’s worse is waiting until something falls apart. There is a reason that vehicles especially a new vehicle will come with a car maintenance schedule. Not everything on a vehicle has to be replaced but it should certainly be serviced and inspected for any wear and tear and potential problems. Vehicle Maintenance costs are what most people dread but if you are handy you might even get away with some mechanical DIY. If you are not handy please don’t attempt any work on your vehicle. You will only cost yourself more money in car repairs over the long-term. You may even repair something incorrectly if you just “guess” and it could cause an accident. Plenty of people play the mechanic role and do repairs or even their own oil change so they don’t have to fork out big bucks to a shop charging $100 an hour for their mechanic. Keep in mind there is a reason why they are in a trade and it takes many years to become Red Seal Certified. You can’t do everything a mechanic does unless […]

Why you should think about your 2015 budget plan now: November 2014 Budget Update

DON’T JUST PARK YOUR VEHICLE…   The end of 2014 is staring us in the face and now is the time to start thinking about putting together your 2015 budget plan. The worst thing you can do is leave budgeting until the last-minute if your plan is to track your expenses over the entire year. Sure the ideal time to put a budget plan into action is the beginning of the year but starting a budget any time is better than no budget at all. Why is planning important? The first thing you need to ask yourself is why you are planning? Do you have a mission in mind? If yes then you need a plan. If using a budget is your mission then you need a plan. Planning is part of a strategic planning cycle that starts with a mission then goals, desired outcome, strategies, measures/target and finally results. That’s how we measure success and in our home the budget is critical to managing our financial success even more so now that we have a son. As we were going over the November budget we talked about how not having a mortgage has affected our budget. It really does […]

Keeping busy helped us spend less: August 2014 Budget Update

NO TIME FOR SHOPPING   It’s true that if you keep busy you may spend less in your budget because you have no time for shopping. Of course that is only true as long as keeping busy doesn’t entail going to the shopping mall. I know some of you were thinking that.   Spend less and save money   It’s not that we spend lots of money in the first place but when we are just browsing it does open the mind to ideas of spending money. We’ve been caught on many occasions buying things that we didn’t need at the time which is still waiting to get installed. This is what our budget is trying to avoid doing but it takes more than having a budget to spend less money. To spend less it takes persistence and a desire to want to stick to that budget. I can’t tell you how many times my wife has wanted me to run out in the middle of the night to buy her food to kill her baby cravings. I’ve said no and many of you might think that’s mean but she has thanked me the next day for not listening to […]

There’s a BUMP in our budget: July 2014 Budget Update

A BUDGET FOR THREE   I know this is a blog post update I’ve wanted to do for a while but I’ve put it off. There is a bump in our budget, a baby bump! Mrs. CBB and I are expecting our first child soon. YAY! We are thrilled and excited for the arrival of our baby and are working through everything like any new parents would. Now is the time we need to get our baby budget in gear to make sure that we are budgeting the appropriate amounts.   Baby bump   With the baby bump news we will be seeing some changes to our life and budget. I can’t really give accurate numbers until baby is here but for now we are keeping it simple and you will see changes in the budget as we move forward. We’ve added in the RESP for baby so it’s ready to rock and roll. We don’t want to miss any opportunities to put money aside for baby’s education. I’m sure I’ll be yapping about our baby bump and progress in upcoming posts and life updates so keep on reading to see how things are coming along. In the meantime please […]

How spending money requires time: Our Family Budget June 2014

SPEND WISELY AND STAY ON TRACK   Sure spending money sounds pretty easy to do but it’s not that easy when you just don’t have the time to spend. If you have kids and work full-time, appointments, chores etc. finding that time to spend becomes smaller and smaller. Many people spend out of boredom which means they roam the mall or shops looking for things that they might need as opposed to what they actually need. I try to get out to pick up what I need and get out although that’s easier said than done.   Spending money is not that easy   Yes, I know you can spend money online without leaving the comfort of your home or job but if it’s not something you normally do it’s likely no big deal to you. You probably don’t even think about spending money buying products online. If you’ve ever asked yourself how you can stop spending money I have the answer. The answer is to fill your day with activities that don’t cost you a cent. The other answer is to be mindful of your budget so you aren’t out blowing money that you simply don’t have. I suppose […]

Unexpected expenses and savings: Our Budget March 2014

SAVINGS ARE IMPORTANT   We’ve talked about having emergency savings and the budget over the years here at Canadian Budget Binder and for good reason. You need savings for unexpected expenses that pop up. Savings whether a small amount or a larger amount are important not only to keep stress levels down but also so you aren’t creating debt. Debt is created because one doesn’t have the cash to pay for a service or product that they need. Just this month as you will read down a bit further we have purchased a product for our home and required emergency services which were paid from our projected expenses account. The reality is that things happen whether it’s this year or the next and being prepared for expenses with some savings in the bank is much better than creating debt. Some people as I wrote about the other day don’t mind carrying debt as they see it as a number on a piece of paper and others like us despise it. I don’t mean mortgages, student loans and car payments because the majority of people do carry debt to pay off some of the largest debts most people will ever have. […]

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