What Are Your Sources For Financial Stress?

MANAGING MONEY PROBLEMS DOESN’T START WITH EARNING MORE.   How many of you are in a state of financial trouble? I don’t want to know because that is a question for you to tackle possibly signaling time for a financial stress test. If you really want to fix your financial stress it takes more than just earning more money. Let me explain. If you answered yes to my question you might want to take a bow, raise the curtain on your debt show and start a new chapter. If you can’t make ends meet don’t sit around waiting for collapse get ahead of the game because if you suffer from financial stress now it will only get worse. Unfortunately not everyone may be able to get ahead especially if living on a fixed income. For those who are and can manage the bills with what they get financial stress looms over them just as much as the next person. If you believe you can’t get ahead because your income doesn’t cover the bills and you’re debt free then something must change. We can all say no to credit and creating debt we don’t need but we can’t all rush out […]

5 Important Budgeting Rules We Won’t Break : Our April 2017 Budget Update

Budgeting rules are not laws that will strip you of your financial independence. They are your guide to financial success.   Your budgeting rules may not help you get out of debt in 12 months but it will help you get out of debt according to your payment schedule. The more money you can pay on your debts the faster you will get rid of them. Earn more> Pay Debt> Save More> Repeat which also means for some people that a second or even third job is needed. I can’t tell you what you SHOULD do because I don’t know your numbers this is why it’s crucial to have in-depth look with your financial planner. Since Mrs. CBB and I do our monthly budget together we were talking about what we’ve accomplished and continue to do to make our budget work for us. Besides being on the same page financially we both follow budgeting rules that we feel have been crucial to our zero debt success. This month will mark three years of us having total debt freedom since paying off our mortgage. Often we wonder how we managed to pull that off before the age of 40 when so […]

What Basic Money Skills Should Be Taught In High School?- The Saturday Weekend Review #216

PERSONAL FINANCE IS MORE THAN JUST BUDGETING YOUR WAY TO FINANCIAL FREEDOM.   Teenagers may find out the hard way in the world of personal finance if they don’t understand finance basics. In the past parents were the financial leaders responsible to teach their kids about money. They still are but things are about to possibly change in Ontario. Personal finance for teenagers has slowly been easing its way into the education system because it’s not just a need it’s critical. This is something that we should all be happy about because not all kids get taught about finance basics at home. The other thing to consider is that the kids are getting taught enough about money or aren’t getting the hands on experience. There’s the learning and then the doing and this is how we build a stronger understanding of what is right and wrong and how to prevent financial disaster or at least avoid it. Personal finance education has long been discussed in Ontario and Education Minister Mitzie Hunter will be announcing the plans for rolling out a Pilot Project teaching 700 teenagers in 28 local high schools about Basic Money Skills in the next week. Personal finance […]

Four Tips To Help Overcome Fear of the Budgeting Process : Our September 2016 Budget Report

  STOP ALLOWING FEAR TO GET IN THE WAY OF YOUR FINANCIAL PROGRESS   If you need help budgeting money do yourself a favour and don’t just “try” to understand how the budgeting process works without experiencing how it will and can affect your life. This is the problem with people who think budgeting is a joke and not needed, they place negative thoughts in their mind from the start instead of motivational action words like, “I will”. Not everyone needs a budget especially if money is not a concern for them. What I like to focus on here though is how much money they could be saving or putting towards other matters instead of spending without warning. So for example, if you spend $400 a month on groceries from a high-end grocer where you could get the exact products at a lower-priced grocery store why wouldn’t you do that? Take the extra cash you save and invest it, donate it or buy extra food to give to the food bank. My point is that we waste money like it’s water when we can conserve it and put it to good use. You don’t care? That’s fine too but don’t […]

Add 1 Cup of Budget Inspection And Watch Your Bread Rise : Our August 2016 Budget Report

DON’T MAKE THIS MISTAKE WHEN CREATING YOUR FINANCIAL RECIPE.   By mistake I don’t mean turning the oven on and burning your budget either as I know some people despise using a budget. I have nothing against you because what’s yours is yours and what’s mine is mine. Those of you who WANT to get RID of DEBT and build a thundering savings account and sizable retirement fund I have one unique financial tip for you-learn to read a recipe. I’m not the Mike Holmes of Budgeting nor the Jamie Oliver of the kitchen but I do know how to read a recipe and I do know how to use a budget. What I’ve learned is that it’s not about just the planning stage it’s everything in between and on-going maintenance similar to being a homeowner or naked Chef.   Read a recipe and savour your budget   Once you understand the basics of a recipe especially when it comes to baking you will understand just how precise you need to be to have the best product. Finding a recipe you are interested in creating at home means you should read the entire recipe from beginning to end. Today we […]

How To Make Easy Money When You’re Broke : The Saturday Weekend Review #180

THE MOST IMPORTANT THING YOU CAN DO FOR YOUR FINANCES IS TO NEVER GIVE UP TRYING.   Over the last 6 months I’ve read article after article about increases in household expenses with Ontario Hydro in the spotlight. I’ve had a few fans contact me with questions about using our budget who then confide in me that they can’t keep up with rising costs and they don’t know what to do. It’s always hard for me to read personal stories because I wish I could take the financial stress away that people are feeling which is why I started this blog in the first place. Not everyone is struggling because they spend too much or have piles of consumer debt either. Sometimes financial struggles are beyond our control so we have to find other ways to make ends meet. If you’re not earning or saving enough money there are options for you to help keep you on your feet. Falling on hard times is a wide-spread problem for some people who end up moving to a smaller city with cheaper rent or renting a room instead of an apartment or condo. If you are a homeowner struggling to pay the […]

Why you shouldn’t feel guilty about saving money : July Net Worth Update 2015 (+2.29%)

MONEY ISN’T EVERYTHING   It has always been hard for us to say no to our friends and family when the money wasn’t in the budget to do certain things. Saving money certainly does come with its ups and downs. Whether it would be taking a weekend getaway with family or spending more at Christmas on gifts we always stood our ground. There have been times we felt guilty that we didn’t participate in certain activities but money doesn’t grow on trees. Sometimes I believe that feeling guilty about money started when I was a young boy. When I earned my allowance I wanted to spend it when I could in moderation. Anytime I did want to spend money my mother or father would guilt me into saving it,”One day you will understand son”. As a child you feel guilt but in reality my parents were only teaching me money lessons. I think over the years now that money has become a guilty pleasure of ours. We’ve since learned to embrace our finances because if saving money is on the menu that means dessert is just around the corner (goals). You can eat your dessert first (debt) but it may […]

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