Should I Buy A Cheaper or More Expensive House? : The Saturday Weekend Review #181

SHOULD I BUY A CHEAP HOUSE OR EXPENSIVE HOUSE

DON’T BE A FOOL TOWARDS THE SHIMMER AND SHINE IN THE REAL ESTATE MARKET   The most expensive house in the world is the one you are living in or contemplating purchasing. Owning a home becomes your world even though some people consider a roof over their heads a house and never a home. Buying the most expensive house on the block is not something I would do unless I was paying cash or was 100% certain that I could maintain it even through unforeseen circumstances. The problem is that there are people who aren’t considering what could happen which could promote a for sale sign on their property. Plus, if you think those are expensive homes now just wait and see what happens if you find major issues with the home down the road. Be ready to part with money you thought you had saved for something more than surprise home renovations. Whether you buy a cheap house or an expensive house you are now holding something expensive that could cost you even more.   The hometown living vibe is slowly being lost   Many families are being forced to move away from their hometown mainly Toronto and Vancouver […]

How To Boost Your Financial Situation When You Can’t Afford To Pay Rent

how to boost your financial situation when you can't afford to pay renthow to boost your financial situation when you can't afford to pay rent

THE CHOICES WE MAKE WITH OUR MONEY AFFECT EVERYDAY LIVING   Not everyone who struggles to pay rent wants to up and move but for many it’s a reality that they must face because they wrangle month after month with financial insecurities. The biggest issue facing many Canadians right now is that rent in most cities keeps going up along with the cost of living and minimum wage has not kept up with inflation. About one-quarter (3.3 million) of all Canadian households are precariously housed, living in housing that is unaffordable, over-crowded, below standard, or a combination of all three. Poverty in Canada is high with many Canadians struggling to make ends meet even if they are those friends, family and neighbours with the big house and fancy cars. You’d be surprised how many rich-like people are actually house poor. There’s a reason spending only 30% of your gross income on housing is imperative because if you go over you face declines in other areas of your budget such as food, transportation, clothing and other necessities. There are 35,000 Canadians are homeless on any given night. Over 235,000 Canadians experience homelessness every year with 5000 being unsheltered, 180,000 staying in […]

How To Spot A Money Smart Woman

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FINANCIALLY SMART WOMEN FINISH RICH AND IT’S NOT ALL ABOUT MONEY   We can add the value “financially stable” or money smart to the list of traits that men are looking for in a woman while in the midst of romancing a relationship. In the past I’ve blogged about finding a frugal man but today I want to focus on men finding a woman who is of the same financial mindset. It may seem like the bottom of the barrel for most of you but for those men who value money the last thing they want is a partner to blow it all away. This is where it’s important to be compatible in terms of wants, needs and desires and why it’s so important to communicate. It doesn’t matter if you are a stay at home mom, stay at home wife or a career woman the money becomes one when you tie the knot. This is why some men are cautious about who they choose to date and for good reason. If a man finds his woman is spending too much money leaving them stuck to pay the bills or unable to save for retirement or to do things with […]

grocery game monthly challenge

How Cooking Classes Can Save You Big Bucks! : The Grocery Game Challenge 2016 #1 May 30-June 5

HOW COOKING CLASSES

LEARN TO COOK AND BECOME THE CHEF IN YOUR HOME KITCHEN   Cooking classes have always been popular and will likely continue to be hot on the bucket list of many who want to learn how to cook starting from basic skills all the way to foreign cuisines. One of the best culinary schools in the world is in your parents kitchen especially if your mom and dad love to cook. That’s how I learned to cook when I was young which opened my intrigue into the world of food prep and cultural meals. From there I became a world traveller and tried to visit as many countries as I could before I moved to Canada where I continue to enjoy new cuisine. Through those experiences I learned just how wonderful food from around the world was but most importantly how they were prepared and cultural knowledge.   Eat at home     Even in the UK I hardly ever ate out because cooking at home was my pride and joy. Plus, it was far cheaper and rewarding for me. Learning to cook new foods means you’ll likely eat out less because your cooking at home which means you spend less […]

Family Sacrifices For Financial Freedom Pays Off

FAMILY SACRIFICS FOR FINANCIAL FREEDOM PAYS OFF

BEING ABLE TO SLEEP AT NIGHT WITHOUT DEBT WORRY FOR YOUR FAMILY IS ONE OF THE BEST FEELINGS IN THE FINANCIAL WORLD   I want to earn money fast, I want to earn money now, I want financial freedom so I don’t have to worry about money down the road. There are people who constantly strive to set goals, budget, work long hours at home or away from home to make sure their retirement years are golden. What this means is that the family will make sacrifices to achieve such financial goals sometimes at an unbalanced cost. Is it really worth being away from your family for 6 or 7 days a week? For the past 2 years I’ve been that guy who is working 6-7 days a week at two full-time jobs. One is my dream job that is currently contract and the other is full-time in my field of expertise but on a different playing field. What keeps me going is my family and the fact that I can retire early if I want to and with a defined benefits package, investments and no mortgage. That fuels the frugal fire. Related: How to retire early- A Beginners Guide […]

Stop Blaming The Government For All Of Your Debt Problems

STOP BLAMING THE GOVERNMENT FOR ALL OF YOUR DEBT PROBLEMS

DEBT= Don’t Ever Buy Things On Credit   Debt for most Canadians is still a reality and likely will be for a long time unless something changes but not necessarily from a political aspect but a personal one. Is the Canadian government to blame for all of our debt problems or should we start taking responsibility for the way we are spending and saving money? The past few days I’ve spent what little free time I have in between working 7 days a week, family responsibility and blogging to catch up with what’s happening in the world of Canadian Finance. With the internet flooded with resent for the Wynne Liberal government who are under fire right now especially with the increase in hydro costs that are creating energy poverty for Canadians who simply can’t afford to pay these price hikes. Our hydro has more than doubled in the past year and our habits have not changed which means we continue to be conscious of utility usage. What’s even worse is there are plans in the works to phase out natural gas, homes will need an energy audit when put up for sale and renovations based on energy efficiency. This is […]

3 Budget Preparation Steps Not To Be Missed : Our April 2016 Budget Report

Budget Preparation Steps Not To Be Missed

YOU CAN’T BUILD A BUDGET WITHOUT BLUEPRINTS   Budget preparation is an essential action step that if you pretend you don’t need you’ll never get past GO with your finances! Creating a personal budget doesn’t have to be complicated however the fine details certainly help to assess where existing or potential problems may sneak up.  Using a financial spreadsheet to document everything to do with money coming in and going out of your life is in my opinion an essential tool for everyone, even if you think you don’t need it. You do! Every month before you sit down to figure out your finances there are budget preparation steps that you don’t want to miss. The reason for this is because if you put half the effort into your monthly budget you’ll only get partial or potentially inaccurate results. Like you, budgeting was new for us years ago and took time for us to get to familiar with but over time we can safely say we are in a place where we confidently collect the monthly data we need. If you are one of those people who think you can search the web for a free budget template and think […]

3 Budget Negotiations That Saved Us Money : Our March 2016 Budget Review

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YOUR MONEY WON’T WORK BY ITSELF SO GIVE IT A PUSH   Treat your finances like you own a company and you are the CEO. Budget negotiations should be part of everyone’s financial plan not just the government and business owners. You may be working for someone else making them rich but when it comes to your money there are ways to achieve the same successes but on a personal level.  It’s amazing how many people take their budget for granted and accept the bills they are given instead of putting the green light on budget negotiations. You’ve worked hard for your money now make your money work for you. Don’t let your cash float away without seeing how much you can save. You don’t have to be an outspoken customer to get a better deal. Before you attack (take that with a grain of salt) you must be armed with details and the outcome you’d like from your budget negotiations. If you need to balance your budget but you’re off by $50 try to see if you can get your bundled-telecommunications services lowered. Make a deal. The top way to trim budget expenses is by negotiating the interest rates […]

The 2016 Federal Budget is in: What Does it Change for You?

THE 2016 Federal Budget

IT’S IMPORTANT TO UNDERSTAND DETAILS OF THE NEW BUDGET   The new Liberal government rolled out their 10 year spending and tax plans on Tuesday, March 22nd. In a nutshell, the 2016 Federal Budget focuses on putting more cash in the pockets of low and middle-income families and on improving the infrastructure in cities and in aboriginal regions. If you don’t have time or just don’t feel like reading through the 271 page document, here is a summary of a few key changes that will affect the majority of Canadians and may affect you if you fall in the category.   Are you in the “Middle-Class”?   The definition is a bit unclear, but the new budget benefits families earning less than $150,000 per year and individuals in the second tax bracket ($45,282 to $90,563). Most of the benefits in this budget have been targeted to the majority of Canadians who fall within that definition, and marginal tax rates were reduced by 1.5% at the end of 2015 for the second tax bracket. If your family income exceeds $150,000 or your individual income puts you in a higher tax bracket, then you will not benefit from most of these changes […]

This Simple Living Concept Allows Us To Save Thousands

simple living concept 2

MOTIVATE YOUR FINANCIAL VENTURES BY MOVING FORWARD   Simple living doesn’t mean that you can’t enjoy all the frosting that life has to offer in order to live a better today for an amazing tomorrow. You can! Just about everything we do today will in part affect the outcome of our financial future and some people worry about whether they have done enough to get them to the finish line. I’ve blogged for a few years now and ever since the beginning there has been one simple living concept that I have encompassed our entire financial path around because it works, a budget. The concept of budgeting for us revolves around this saying which I created years ago which is also pasted on our refrigerator door. It’s not about how much money you make it’s how you save it – Mr.CBB I received an email from a reader who is looking for some insight about investing and her financial future and motivation about not finding this blog earlier. Dear Mr. CBB, About 9 yrs ago I moved from Europe to Canada. It was always a big dream for me to live abroad and when I turned 30 I realized my […]

A Balanced Budget Doesn’t Make It Unbreakable : January 2016 Monthly Budget Review

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BALANCE IS NEVER A STEADY VARIABLE IN FINANCE   I often hear that a budget is ready to go once it is balanced but a balanced budget doesn’t mean that it can’t incur hiccups along the way. Someone asked me how we could possibly budget every single month. “Isn’t it time-consuming?” After a bit of practice it gets easier BUT is your life not worth the effort? Think about that for a second. Anything you do to better your life IS worth it. It’s not hard to make a budget look pretty with colours and numbers but numbers are like credit, once you spend it you are stuck with it. You still have to pay it back. What I’m trying to say is that anyone can say they have a balanced budget and still screw it up. Too many people rely on a fixed balanced budget and ignore it for the rest of the year as if it’s bulletproof.  This is a huge mistake in my opinion because when it comes time to review your budget the last thing you want to find out is that you messed up along the way and didn’t pick up the broken pieces. Even […]