How do you save money?

how to save money homeless man

THERE’S ALWAYS A WAY   I want to learn more about the savings task that so many people struggle with. So tell me, How do you save money? We all tend to save money a little differently but for many reasons not necessarily for the long-term. Today I want to walk you through conversations I’ve had with a homeless person and a homeowner to understand how saving money differs depending on lifestyle.   Save money…. What is that?   So many people laugh when they read about saving money because they believe there is no such thing. This is a common mindset we have because we believe that if we don’t have excess every month then there is no possible way. Most people who do manage to save, find a way. There’s more to saving money than living frugal meaning you save money on sales etc. People easily overspend while simply shopping for food and other items on sale. That’s why the term “window shopping” is the best way to shop if you don’t really need to buy anything. Leave your wallet at home. Do we really know where our money is going?   A homeowners struggle to save money […]

grocery game monthly challenge

How to find Love at the Grocery Store: The Grocery Game Challenge #5 Mar 30-Apr 5, 2015

HOW to find love at the grocery store

LIVE, LAUGH, LOVE AND GROCERY SHOP   If you have a love affair with the grocery store and are single, I’m going to tell you how to find love while roaming the food aisles. Most people are looking in all the wrong places for love and doing the deed isn’t going to be your fast-track way to the alter either. There’s more to finding love than what happens in the bedroom. Sadly the first place that comes to mind for those who want to find love is by going to the bar. The bar dating scene is so old these days especially with free online dating sites like Plenty of Fish and even apps for your smart phone that it has taken on an entirely new direction. The problem with the meet at the bar mindset is that it’s always been where people go to enjoy drinks, dance and meet people. In one sense we are conditioned from the time we are in University and College that the bar scene is where people hook up because that’s where students go to unwind and have fun. It’s time to think outside of the clubs because there are more places to find […]

Saving almost 50% of his Gross Income is no longer a dream

gross income(1)

YES THAT’S BEFORE TAXES   In my February 2015 net worth update post I mentioned I was saving approximately 50% of my gross income – my goal for 2015 is 45%. The reason I set this goal is my expenses in life right now are likely the lowest they will ever be for the rest of my life (not married, no kids, modest house), so it’s important to focus on savings while the going is good. I suspect that my salary will increase at a modest rate for the next few decades; however, my expenses will increase at a higher rate. The key thing about my savings rate is a lot of it is a result of preemptive planning. Below I’ll tackle each piece of my expenses and discuss tips and ideas on how you can trim these down in your own budget.   Government deductions   The government seems to always have his hand in our pocket. This expense is without question my largest, which requires some careful planning to ensure I’m not needlessly paying too much. The main focus of any budget conscious taxpayer should be to legally minimize taxes in a cost-effective manner. As a chartered accountant […]

Building our dream house could mean another mortgage : February 2015 Net Worth Update (+1.99%)

MONTHLY NET WORTH UPDATE

WE DON’T ALWAYS GET WHAT WE WANT   The mortgage is gone, vanished, disappeared and you own your house but now you want something more. Do you stay put, sell or build your dream house? This is the burning question at the back of our minds lately. Let me explain more. When I bought my first home at 21 my dream house always included large rooms because space came and still does with a premium price-tag. If you’re like me you enjoy having space BUT not everyone NEEDS a large space to get on with daily living. Every day we read about people who live in a tiny house and find ways to make it work for them. This type of living is NOT for everyone. Your dream house compared to someone else’s idea of a cool house will ALWAYS be different because our needs are not the same. We tend to focus on things in life that will help us to meet or exceed our needs especially if settling is NOT an option. Dream house living for some people may simply be…living in any type of house rather than an apartment or vice-versa. You might be the person who […]

Ambitious Teen helps mom with family budget

Family Budget

LET ME HELP YOU WITH THAT MOM   There was a time in my life when I was a teenager and all I cared about was working, saving money and hanging out with my friends. I didn’t have to worry about what my parents did with our family budget nor did I care. Growing up in our household my parents were frugal to the point that if we wanted something we worked for it. They didn’t scour the weekly flyers because we didn’t have them but they would buy products reduced if mum was able to do something with them right away. My mums favourite was making pies with fruits that were ripe or ready to go off. That’s probably why I’m the way that I am in the kitchen. Being that it was Mother’s Day (Mothering Sunday) March 15 in the UK yesterday this email made me remember growing up and what life was really all about in our house. My mother was and still is our rock and I can understand how this young lady is so determined to help someone so special and close to her heart.   Help with the family budget   I received an […]

Are basic mathematics skills are a must-have when dating? : The Saturday Weekend Review #112

The Saturday Weekend Review logo

NUMBERS DO MATTER!   I wonder if these online dating websites have “math” listed as a qualification one can check-off as a “must-have” for their desires in a partner. It wouldn’t shock me because more and more people want partners that understand how to balance a budget and not send them to the poor house. Times have changed and so have dating and relationships. With each new generation of lovers comes new problems that we all must face but one thing is for sure money will always be one of them. Some may ask why understanding math is even a topic for discussion but it is a BIG problem for many couples who end up divorced or a relationship fails because they don’t “get it”, math that is. I know you can all think of someone who spends money like it’s water but that water isn’t flowing in as fast as they are spending it. They simply don’t get the basics of math because if they did, they wouldn’t put themselves into such a terrible debt situation. It was strange when my wife started to tell me about an article she read where a woman from New Delhi, India walked […]

Savings competitions helped couple save $20k to buy a house

couple savings competitions

MONEY COMPETITIONS CAN BE FUN   I’ll admit that I was always the competitive type growing up because I wanted to be successful at whatever I did. When I did participate in something I did it to the best of my ability and tried to surpass any goals that I set for myself. I could easily say money is a big part of my life in the sense that we need it to survive so I compete to keep earning it while building my career. I don’t challenge myself to earn a certain amount of money although we do set financial goals for ourselves. If it happens, it happens but we do live a frugal lifestyle and use a budget to help the process along. If I didn’t push myself to live each day to the max my life would be boring. My wife would never be surprised with the special things I do for her to make her day easier. Our son would not have the dad that goes above and beyond for him if I didn’t have some form of competitive nature in me. I want the best for my family so I work hard for them every […]

How one guys financial problems became his hobby

financial problems

THERE’S NO PERFECT FINANCIAL MODEL   Let’s face it, if you owe money to people you have financial problems that need to be addressed and attacked with a plan. Your money issues might not necessarily be problems that will cause you financial stress. On the other hand if your debt keeps growing you may want to re-think how certain events might affect your stress levels. Finances are for life not just until you are debt free because financial problems never really go away they just get masked with dreams. Financial problems may be considered consumer debt, facing bankruptcy, creditors calling, owing money to family and friends, no money to pay bills and even the unknown. The list is endless BUT people with little to no money aren’t the only people with financial problems. When you are in debt that can easily change if you lose your job and can’t pay the money you owe. Can you see how that might be a problem?  The birth of Canadian Budget Binder was created to share a journey of inspiration, new life and financial problems. I’m that “guy” Mr.CBB A.K.A (MO), welcome to my blogging hobby! Since the first blog post at CBB […]