How Should Couples Split Household Bills?

WHEN YOU MOVE IN WITH SOMEONE YOU SHOULD NEVER EXPECT TO PAY LESS OR MORE BASED ON YOUR INCOME LEVEL.   Moving in together is a big step for couples and with that comes an entirely new set of financial rules mainly called, splitting. When should you talk about money in relationships? Whenever it is right for the both of you but certainly before moving is ideal. Don’t be afraid to pull out the money card because if you’re thinking it then it is important to you as it should be. Living together may be economical especially if you are spending every day with someone you care deeply about however there is much to discover before you take that step. Some couples just end up moving in together without even knowing it. A shirt here, pants there and before you know it your bathroom counter shares his and her health and beauty products. What in the world just happened? You moved in together and with that comes financial responsibility. Unless you plan to fork over all the money for your partner who now lives with you, talking about splitting household bills is a good idea. Generally doing this before-hand is […]

University Student Makes Costly Friendship Mistake

SOMETIMES THE BEST PATH IN LIFE IS TO FIRST BELIEVE IN YOURSELF.   Friendship is a wonderful thing especially when you are networking and keeping doors open for opportunity that might come your way. It’s all about who you know right? In most cases, yes but you can’t just rely on friends. Do you tell yourself, “I need a friend” or ” I want a friend”? There is a difference between Needs vs. Wants that we talk about in the finance world and the same can be applied here. If you don’t need it then don’t waste your time, energy or money on it. If you want something then you have to work hard to save money to pay for it. Compare this to earning the friendship of someone new in your life. Don’t get me wrong, having friends is great but at the end of the day they do their thing and I do mine. Contrary to what you’ve read in children’s books growing up life isn’t all about rainbows. There are no unicorns, dolls and talking cars who will watch your back and give you advice. At one point you probably imagined that Spiderman was your hero and […]

3 Advantages Of Starting A Monthly Net Worth Calculation : December 2016 Net Worth Update (+1.88%)

THERE’S ONLY ONE ACTION YOU NEED TO TAKE WITH YOUR MONEY AND THAT’S CONTROL.   It amazes me how many people want to know the net worth calculation of everyone else but themselves. It seems that unless you know you’re doing well financially seeing a net worth summary is pointless. Hardly the case, let me explain. The first thing Mrs. CBB says to me when I bring her our monthly net worth calculation is,”How did we do this month?” Since I’m the one who completes the monthly net worth calculation I have to break the news to her whether our net worth went up or we took a hit. The next question is always, why? If the number decreased I get a sigh but if it increased she smiles which is likely the response from most people. Money and emotions can run high especially if you’ve invested lots or you grew up in a financially struggling household. One thing I noticed is that no matter what the monthly net worth calculation displays she wants to know, Why? The notion that net worth must increase when you spend less and balance the budget is misleading. These are not the only financial […]

6 Eye-Opening Strategies To Help Transition You Into A Budget Master : Our December 2016 Budget Update

IF THERE’S ONE LIFE SKILL YOU WANT TO MASTER IT’S HOW TO MANAGE YOUR FINANCES.   Every January social media lights up with posts about debt, money, savings, retirement, divorce, marriage and spending habits. Magically I see an influx of traffic to the blog that is out of the ordinary with searches always leading to budgeting, debt reduction and how to make money fast. Mrs. CBB had her friend over this afternoon and while she was making a tea in the kitchen the budget discussion came up. My wife lifted up a large Ziploc bag filled with our monthly receipts and said that she was working on adding the last few into the budget spreadsheet. When Mrs. CBB dropped the bag her friend said that she just finished writing out her family budget the other day.  With a second baby on the way and price hikes hitting Canadians hard at the start of 2017 she wants to make sure that they can continue to afford living where they do. Keep in mind this is the first time they’ve used a budget before so writing it out is sometimes an easier way to transition into a budget master. Baby steps are […]

Our 2016 Financial Journey Has Come To An End: The Saturday Weekend Review #204

  WRAPPING UP ANOTHER YEAR OF FINANCE AS THE NEXT IS SET TO BEGIN. ARE YOU READY TO TAKE CHARGE?   It’s just about time we say goodbye to 2016 and get ready for the challenges that await us in 2017, and there will be some. With rising food costs, increased utility bills and the ups and downs of interest rates we’re in for another tight year of saving and investing. Every December I get an influx of emails from readers who want to put the year behind them and start anew with a fresh outlook on their finances. This is a great opportunity to set up your 2017 budget especially if you are motivated to do so. My blog budgeting plan for 2017 will include lots of budget talk and possibly a more in-depth look at a new budgeting series to compliment the first I wrote back in 2012. We’ll call it CBB Budgeting Series v.2 only because I’ve learned much more over the years and feel I should share everything I know about budgets. This is the last Saturday Weekend Review post for 2016 and I hope you’ve enjoyed all of the fun we’ve had here on CBB. […]

10 Frugal Ideas For Gift Wrapping Christmas Presents : The Saturday Weekend Review #201

EASY CHRISTMAS GIFT WRAPPING IDEAS THAT WILL GLITTER WITHOUT THE HIGH COSTS OF LUXURY.   Unique gift wrapping is nice but the sometimes fake ooh la la only lasts for a few seconds before the recipient rips open their Christmas gift. Instantly he/she forgets about all that effort and potential money you sunk into gift wrapping. Wrapping gifts is more about the effort you put into the project because that’s really what it is, a project of love. I’m not saying that no one will care about your gift wrapping skills all I’m saying is not everyone will appreciate what you do so why not do it on the cheap. This way you can give an elegantly wrapped Christmas gift that you’re proud of even if they don’t care about your efforts. Plus, you won’t be spending a fortune on gift wrapping paper and ultra expensive accessories at places like gift card shops or Chapters. Luxury Christmas wrapping paper is for people who don’t care about how much they are paying for Christmas wrapping so they just pay the price because they like what they see. Some people like to show off so they buy the most expensive wrapping paper […]