PF Weekly Grab a Brew 31: I don’t care about debt…push!

Grab A Brew Reading Line-Up

I’m sure you know someone who is deep in debt and shrugs it off like it’s no big deal saying they don’t care about debt. Sometimes I wonder how someone gets to that point but from another perspective I can understand how overwhelming debt can be for some people, myself included. Every one in a while we need motivation in our lives, and I’m here to share some of mine with you.

Yes, when I bought my first condo that amount of debt and unexpected bills were piling up even though some people would say a mortgage is not a bad debt it loomed over my head. I’s not near as bad as having thousands in consumer debt that you just can’t pay off no matter how you accumulated it. Some people are comfortable paying the minimum payments until the bitter end no matter how much they pay in interest. It’s easier to close our eyes than to take the steps to iron out the wrinkles.

12 per cent of them — said they are comfortable carrying the debt and don’t intend to pay it off.

The CIBC telephone poll that I read said “14% of Canadians won’t pay off their debt” and although any number seems high to me it’s no surprise especially if we take on the negative attitude that many people swim with. When one is too far in debt the feel the waves are too high so they float. Push. I know not everyone is in debt from their own doing but realistically if we could only think of better ways to pay off the debt instead of saying “I could care less if I pay it or not” because that attitude is a huge weight that some people carry around and will take them down, eventually. Push.

When one CBB fan shared her story about drugs,  debt, divorce and triumph her words were so powerful that the post was seen by so many who crave that inspiration. Then there is Katrina a single mom who does whatever she can to make extra money for her family to stay out of debt. It’s that drive, that attitude, that push.

How do you become more positive about debt?

Well, there’s not much more to say except for take your debt with both hands and conquer it. It may be easier said than done but for those of you that know me, you know I always say anything is better than nothing at all. It’s hard for some people to see the bits come from the pile little by little but if we could cut back in other areas or make more money we could take bigger bits. No one will sorry for you and your debt, that’s just the way it is. They won’t care how you got it or arrived at the place you are at but they may want to help you get over the negative hurdle and back on paying higher monthly payment grounds. Push.

Being positive is not hard at all, because if you have what it takes deep in your heart you can make anything happen. Digging out of debt takes steps but you must climb them and figure out what you want money for. There are people out there with varying degrees of disability that are able to make positive change to their life where they once thought there was no hope. If we could just take their strength and apply it to our finances we would be in a much better place. Push.

The name of the game is to “push” and don’t stop until you get what you want. If you want lower interest rates on your credit card, find a way. Do what you need to do to get back on track, especially if that means budgeting every penny so you know where your money is going. It’s your ship, you’re sailing, no one is going to pull your heavy debt weight along but the strength you put into getting your ship to shore. Push.

There once was a girl I knew, and still know who had dreams, lots of them. In an instant all those dreams came crashing down after an accident she was in. She went through the stages of  loss through emotion but now she is a fighter and is doing whatever it takes to get back the goals she lost through re-arranging the way she thinks about her life and what she wants from it. The hidden message in this post is so obvious that I hope those that read it grab it and hold it close because when you want to give up, say the word to yourself. Don’t let anyone tell you that what you dream is impossible, but when you tell yourself that it’s only a dream you won’t ever bring it to life. Push.

Do you know someone who has debt and has just given up or doesn’t care what happens any more? What would you say to them if you could to motivate them never to give up?

Top Recipe

skinny-frozen-smores

 

It’s a hot day today and I’m in the mood for something sweet but skinny and this Skinny Frozen Smore’s Treat that Nancy Fox from Skinny Kitchen created is right up my alley, no camp-fire needed at all. This is my top recipe from my Facebook page The Free Recipe Depot! Each week I feature one recipe from other Food Bloggers right here… just to make your mouth water. Check out my full frugal recipe index to see what you’ve missed in my kitchen.

PF weekly reading line-Up

I’ve had another busy week so I didn’t get a chance to read and comment on as many posts but from what I did read and comment on I think you might enjoy the few I picked out. Looks like a certain host (s) is down today and some posts I wanted to share I can’t. Sorry.

Top story: My good friend Karen is celebrating 3 years blogging at Lil Suburban Homestead. Lots of contests going on so please head over and say hello and tell her Mr. CBB sent you!! I always think that if a blogger can make it past a year you know they are passionate about their topic and Karen, well she goes above and beyond. Enjoy the real-life photos of her homestead and how she lives the frugal life. 

Have a great week everyone and I hope you enjoyed this edition of my Personal Finance Weekly Grab a Brew #31, I don’t care about debt…push.  Join me again next Friday when I do it all over again. Happy August long weekend Canada.

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December 2012 Canadian Budget Binder Budget Update

Canadian Budget Binder Monthly Budget Update
What happened in December in the CBB House? 

Christmas and New Years have come and gone and now the bills are going to come piling in. Like many others December is a busy month for our budget although we do somewhat prepare for these expenses. We did go over in some categories like clothing for example where Mrs.CBB needed a new winter jacket and pair of winter boots. Both of which we were able to score for %50 off and they are a great quality product. Sometimes it’s worth waiting for those great boxing day sales in Canada. You can actually take that expense of $247.97 and double it and $495.94 would have been what we would have spent if not for the sales.

Our gas was up slightly this month, not over budget but we spent more because we had to travel for the holidays. We also paid a bit more on the mortgage this month to make it an even $154,000 that is left to pay. Yes we have had the cash to pay that in full since last month. I’ll be talking more about this in the next little while. If you live in Ontario you know that the prices for your vehicle sticker have gone up. We had to pick up a plate sticker so we thought why make 2 trips so while we were there we picked up a sticker for our other vehicle for next year. I also picked up some items for work which is fine as I’ve hardly spent anything this year on work materials.

Our grocery expense for December was lower for a couple of reasons

1-We went away for the holidays

2-We spent too much in November so we had to cut back in December

Changes to the Budget This Month:

You won’t see many changes to the budget in December however I just posted adjustments we made to our Canadian Budget Binder 2013 Family Budget. While you are reading our 2013 family budget update don’t forget to enter to WIN $100 cash! You will see how we did in 2012 and what our new figures will be going into 2013. You will also read about why we made the changes to our budget.

December Monthly Overview:

We have 3 Canadian Bank Accounts with our Chequing account being with President’s Choice Financial. We chose PC Financial as one of our banks because we didn’t want to pay any bank fees. We also have never felt the need to see anyone personally inside of a bank but if we do Canadian Imperial Bank of Commerce (CIBC) will gladly help us out as PC is affiliated with CIBC.

  1. Chequing- This is where all the bills get paid from.
  2. Emergency Savings- This is where our Emergency money sits.
  3. Savings- This account holds money for projected expenses.

The CBB Family December Budget Breakdown

    • Monthly Budget Total: $5797.85
    • Monthly Net Income Total$8370.79
    • Total Coupons Used (this includes everything such as points redeemed, big box store coupons, not just grocery coupons: $279.06  up from $202.21 in November
    • Projected Expenses: These are expenses we know we will pay for throughout year and save monthly for = $1257.39
    • Total Expenses Actually Paid Out$4997.27

Total Expenses Actually Paid Out Calculated is $8370.79 (total monthly income) –$2116.13 total monthly savings)–Projected expenses $1257.39 = $4997.27

Actual Cash Savings Going Into Emergency Savings Funds$2116.13

Calculated is $8370.79 (total monthly net income) – $4997.27 (actual expenses paid out for the month)–$1257.39 (projected expenses) $2116.13  (Total Savings for December)

The Outcome: December

PE=Projected Expense  is money which is automatically saved each month ready for when the bill comes in or for when you need it as in the example below. We go over our projected expenses at the beginning of the year to set up our yearly budget and adjust as we go along if a new projected expense arises and needs to be added to the budget. This has happened on many occasions but it’s bound to happen as we can’t predict everything we have to pay for over the course of the year. The important part for us is that we are saving for the expense and we no longer have to stress about taking money from our savings to pay for them.

Example: Clothing we budget $10 per month. If we don’t spend it we move it to the projected expenses account. This means we should have $120 per year for clothing to spend. We have to track that expense as we spend it.

  • A/C Service /Maintenance- PE $12.50 Spent $0
  • Allowance $15.00  Spent $41.75
  • Birthday PE $10.00  Spent $0
  • Car Repair/Maintenance PE $23.50  Spent $160.03
  • Christmas PE $25.00  Spent $332.91 (300 yr budgeted)
  • Clothing PE $10.00  Spent $247.97 (wow!)
  • Dentist/Prescriptions PE $5.00  Spent $47.61  (will get most reimbursed)
  • Electricity/Water PE $153.05  Spent $344.82 (This bill comes every 2 months)
  • Entertainment-$7.00  Spent $15.80 Over $8.80 (party animals that we are)
  • E-test PE $4-Spent $39.55
  • Extra Mortgage Payment 5 week- PE- $101.26 Spent $0
  • Furnace/Hot Water Rental PE$112.38  Spent $112.38 (This bill is every 3 months)
  • Union Gas (domestic)-$59.19  Spent $58.21
  • Gasoline/Diesel (vehicle)-$192.00 Spent $185.66
  • Grocery- $190.00 Spent $71.02 Play The Grocery Game With us to Save!
  • Home Maintenance PE $329.00 Spent $83.92
  • Car/Home Insurance-$205.17 Spent $205.17
  • Income Tax Filing PE$2.50 Spent $0 (this may change in 2013)
  • Investment-$767.00 Spent $767.00
  • Licence Renewal Fees PE $11.84 Spent $0
  • Life Insurance-$135.05 Spent $135.05
  • Lottery-$12 -Spent-$14.50 Over $2.50 (2 free plays added encore)
  • Membership/Club/Sports PE $6.00 Spent $0
  • Miscellaneous-$125.00 Spent $113.56
  • Mortgage-$1389.12 Spent $1712.39
  • Parking-$5 -Spent $0
  • Pet PE $83.33 -Spent $0
  • Property Tax PE $287.45 Spent $0
  • Emergency Savings-Saved $3373.52 (this includes PE)
  • Vehicle Sticker PE $16.00 Spent $179.00
  • Cable/Internet/Cell/Home Phone-$146.19 Spent $146.19
  • Work Tools PE $50 Spent $105.16

Overall: We are happy with our December numbers. We are hoping with the budget changes for 2013 that we will make an even bigger difference come January 2014.

Check in at the beginning of  February 2013 to see how we made out in January 2013!

Question: Did you make any changes to your budget for January 2013?

It's Not About How Much Money You Make It's How You Spend It

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October 2012 Canadian Budget Binder Family Budget Update

Canadian Budget Binder Family Budget Update

What happened in October in the CBB House? 

The Budget Saga, no, not the Twilight Saga continues here in the CBB home although I’ve been reminded Twilight Breaking Dawn part 2 comes out in theatres Nov 16,2012 and the red carpet premiere is Nov 12, 2012. I don’t know what it is about the ladies and Robert Pattinson but Mrs. CBB says he’s sexy but not as dreamy and sexy as me and my accent is just as drool worthy (ha, ya that’s what they want us to believe). I also think it’s a way to drag me to the movie release for a date night.. because she has free tickets and has made me watch every other Twilight Movie. That’s Ok, there’s give and take now because I have the remote control so she watches what I watch lol.

Actor Robert Pattinson after the Twilight Saga...

Actor Robert Pattinson after the Twilight Saga Film New Moon (Twilight Chapitre 2 Tentation) Photocall at the Crillon Hotel in Paris, France on November 10, 2009. (Photo credit: Wikipedia)

Anyhow… enough Vampire talk… the budget saga continues in the CBB home as it should with any home as the budget can change at any moment so it’s important to keep on top of it. This month we see a change in our communications category although it’s no surprise really.

Good News from Rogers Communications who says the CRTC LPIF FEE of 1.5% of your recurring TV bill is being reduced by a whopping 0.5% and will disappear by 2014. Yippie, Yahoo, Yay! Don’t break out the champagne just yet. BUT Wait…(no they didn’t throw in a free IPhone)  they wiped the smile off my face faster than I could say, woohoo, by charging us more for our monthly services. Business is Business, I know, I get it.

I noticed an increase on our bill only to find out that they took back the 15% bundle savings on Mrs.CBB’s cell that we negotiated and gave us 12%.  They are also increasing our internet by $2.00. Apparently I didn’t get the letter in the mail to inform me of the bundle decrease according to one agent and the other said, “well it was on your bill“.

So, if you bundle your services with Rogers.. check your bill (I failed to read all 10 pages)- lesson learned!

If you have

  • A 5% discount will be reduced to 4%
  • A 10% discount will be reduced to 8%
  • A 15% discount will be reduced to 12%

What does contract and deal mean any more? It means if you weren’t one who negotiated a deal you are getting it up the arse even worse! Prices in the UK for communications when I left in 2007 weren’t near as expensive as in Canada. I don’t mind negotiating and haggling for the best prices  although it gets tiring begging for a deal. Maybe it’s time to look elsewhere.

Anyhow, I’ve had to make changes to the budget again for this increase of $1.73 per month or $20.76 per year until the internet increase. Best part of it was when I was told over the phone when I questioned the increases, “it’s only a couple dollars” “every dealer does it“. I’m sure that was her way of saying don’t bother looking or leaving they will all do this to you. Maybe she’s right, maybe she’s wrong, but that won’t stop me from looking.

Do you negotiate your Cell phone, Cable, Home Phone and Internet bill with your provider if you are a long term customer? Who has the best rates in your opinion?

I participated in The Welfare Food Challenge In September so you will see a decrease in our grocery spending for the month.

October 2012 Canadian Budget Binder Family Budget Update

Changes to the Budget This Month

  • Communications bill went up by $1.73
  • Under in our  Lottery category as I forgot to play one week.. oops
  • Added in A/C Service/Maintenance, Birthdays, Extra Mortgage Payments that we save for the months with an extra payment.

Net Income for the month of October was higher/lower due to 

  • Interest from the Savings Accounts $0.08+$105.87+ $4.11=$110.06
  • Overtime Pay/Training for Work – Yes
  • Benefits Reimbursement $18.50
  • Work Travel Reimbursement Yes
  • Paid Volunteering $25.00, $25.00, $25.00
  • Gift Cards Received $10.00 + $10.00 (these were from a Shoppers Drug Mart Promo)

 October Monthly Overview

We have 3 Canadian Bank Accounts with our chequing account being with President’s Choice Financial. We chose PC Financial as one of our banks because we didn’t want to pay any bank fees. We also have never felt the need to see anyone personally inside of a bank but if we do Canadian Imperial Bank of Commerce (CIBC) will gladly help us out as PC is affiliated with CIBC.

  1. Chequing- This is where all the bills get paid from.
  2. Emergency Savings- This is where our Emergency money sits.
  3. Savings- This account holds money for projected expenses.

The CBB Family October Budget Breakdown

    • Monthly Budget Total: $5797.85
    • Monthly Net Income Total: $7286.25 a 2.18% Decrease from September
    • Total Coupons Used (this includes everything such as points redeemed, big box store coupons, not just grocery coupons: $121.16 down from $192.75 in September
    • Projected Expenses: These are expenses we know we will pay for throughout year and save monthly for = $1224.89
    • Total Expenses Actually Paid Out is$3705.10

Total Expenses Actually Paid Out Calculated is $7286.25 (total monthly income) –$2356.26 (total monthly savings)–Projected expenses $1224.89 = $3705.10

Actual Cash Savings Going Into Emergency Savings Funds$2356.26  which is an 18.01% Increase from September 2012 Savings

Calculated is $ 7286.25 (total monthly net income) – $3705.10 (actual expenses paid out for the month)–$1224.89 (projected expenses) $2356.26 (Total Savings for October)

The Outcome: October

PE=Projected Expense  is money which is automatically saved so if we go over in a category the money will come from the PE Account where it accumulates all year. The key is to make sure that you are not spending more than you are saving each month over the course of the year.

Example: Clothing we budget $10 per month. If we don’t spend it we move it to the projected expenses account. This means we should have $120 per year for clothing to spend. We have to track that expense as we spend it. If we see we need to adjust the budget because the number is far too low or high we will do that. I may add a Year to Date starting in January 2013 to this update so I can track it along with all of you.

Total Net Income October: $7286.25

  • A/C Service /Maintenance- PE $12.50
  • Allowance $15.00 Spent $0
  • Birthday PE $10.00 Spent $30.00 Over by $20.00
  • Car Repair/Maintenance PE $23.50 Spent $0
  • Christmas PE $25.00 Spent $o
  • Clothing PE $10.00 Spent $46.05 Over by $36.05
  • Dentist/Prescriptions PE $5.00 Spent $17.95 Over $12.95 (will get reimbursed)
  • Electricity/Water PE $153.05  Spent $344.13  (This bill comes every 2 months) Over $38.03
  • Entertainment-$7.00  Spent $7.90 Over $0.90
  • E-test PE $4-Spent $0
  • Extra Mortgage Payment 5 week- PE- $101.26 Spent $0
  • Furnace/Hot Water Rental PE$112.38 Spent $0 (This bill is every 3 months)
  • Union Gas (domestic)-$59.19 Spent $32.36 Under $26.83
  • Gasoline/Diesel (vehicle)-$192.00 Spent $220.51 Over $28.51
  • Grocery- $190.00 Spent $96.33 Under $93.67  Play The Grocery Game With us to Save!
  • Home Maintenance PE $329.00 Spent $126.41
  • Car/Home Insurance-$205.17 Spent $205.17
  • Income Tax Filing PE$2.50 Spent $0
  • Investment-$767.00 Spent $767.00
  • Licence Renewal Fees PE $11.84 Spent $56.50 Over $44.66
  • Life Insurance-$135.05 Spent $135.05
  • Lottery-$12 -Spent-$9.50 Under $2.50
  • Membership/Club/Sports PE $6.00 Spent $0
  • Miscellaneous-$125.00 Spent $190.28 Over $65.28
  • Mortgage-$1389.12 Spent $1389.12
  • Parking-$5 -Spent $5.50 Over $0.50
  • Pet PE $83.33 -Spent $0
  • Property Tax PE $287.45 Spent $0
  • Emergency Savings-Saved $2356.26
  • Vehicle Sticker PE $16.00 Spent $o
  • Cable/Internet/Cell/Home Phone-$146.19 Spent $146.19
  • Work Tools PE $50 Spent $14.20 Under $35.80

Overall: Not so bad of a month for us and we are working on goals for 2013. Do you set financial goals for your family?

Check in at the beginning of  December to see how we did in November!

  • How did you make out with your budget for September?
  • What changes do you need to make to your budget?
  • Follow Canadian Budget Binder and Budget along with us!

It's Not About How Much Money You Make It's How You Spend It

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