Family Sacrifices 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 […]

5 Housing Options To Consider As We Age – The Saturday Weekend Review #170

THERE IS NO HARM IN PREPARING FOR FUTURE HOUSING ARRANGEMENTS     No matter what generation you were born in eventually you will age and with that comes options especially housing needs to fit your lifestyle and budget. When we first bought our house in 2009 we were practically the youngest couple on the street with no kids. We looked high and low for the perfect house for us which meant we let house prices influence our real estate budget. We were fortunate to have so many houses to choose from at the time as prices took a steep dive. It was imperative for us to buy the least expensive house we could find in the most expensive neighbourhood. We knew eventually that this housing decision would come back in our favour and it has although we’re not quite sure we are ready to take the plunge and move just yet. Since then housing prices in our neighbourhood are through the roof with multiple offers over asking price that would shock any seller (in a good way). Some of our friends have had huge celebrations after the sale of their house as they scored big. This kind of housing windfall […]

Why Live A Frugal Life If You’re Always Going To Be In Debt?

JOKES ABOUT BEING CHEAP AREN’T FUNNY TO MOST PEOPLE   I’ve never heard anyone say that they LOVE living a frugal life. Carrying debt is not something to take lightly so choosing to watch where the dollars go is better than the stress of  debt collectors calling. Nobody wants to struggle with their finances. Nobody wants to budget but many of us do it so we can make ends meet and save for the future. We do what we believe we must do to get ahead, but not everyone thinks this way. Anyone that can add and subtract should realize that if you continue to spend money that debt will mount, especially if it’s not being paid in full every month. I’ve had the painful luxury of listening to a conversation between two guys who said there’s no point saving money because we’re all going to die before we can spend it. I’ve also been in the middle of a conversation where an acquaintance was saying to his wife that he doesn’t care about debt because he will never pay it off before he dies. I’ve come to the conclusion that some people are clairvoyant and can see into the […]

Buy the least expensive house in the most expensive neighbourhood

BE PICKY WHEN HOUSE SHOPPING   Typically we like to buy quality when we shop which included shopping for our home. This is why we scoured every available neighbourhood around our city for the best deal. The only thing we don’t like is paying full-price which meant we had our work cut out for us. Thankfully, it worked out in our favour. When buying a house you want to make sure that if you are buying a $400,000 house that the neighbourhood matches the price tag or you might struggle to sell as fast as you’d like down the road. This is why we hear over and over not to over-renovate but then again a smaller house in a bigger neighbourhood might have more luck finding a buyer than a house that costs far more than smaller surrounding homes. Today I have an email from a guy who is a first-time home-buyer with his wife and wants to know if they should spend the money and get the biggest house they can or a smaller house but in a more expensive area. Note: If you have a question for me please send me a detailed email similar to below so […]

Woman Confesses Shopaholic Game Helped Pay $10,000 Debt : The Saturday Weekend Review #128

WINDOW SHOP UNTIL YOU DROP   If you are scratching your head wondering what on earth the Shopaholic Game is trust me, I was too No, I did not invent another game to help all of you save money however I certainly realized just how a challenge can motivate someone to save money and pay off debt. Not everyone can create success alone but when there are a few people involved with the same goals in mind it becomes a challenge of who’s going to make it to the end victorious. It’s not everyday someone drops the term “Shopaholic Game” into a conversation BUT this is what happened to my wife this past week while we were coincidentally out shopping. I don’t know what it is about when we get together with friends BUT money always seems to pop into the conversation and we aren’t the initiators. Trust me when I say we don’t talk much about finance with family and friends however we are always more than happy to hear what’s happening in their financial lives. Since we went home for the Canada Day Holiday this past week my wife decided to meet up with a friend at the […]

Couple on the Debt Binge Train to rid of $40,000 : The Saturday Weekend Review #120

THE GIFT OF DEBT FREEDOM   I’m excited to share this amazing journey about a couple who are 18 months away from paying off $40,000 worth of consumer debt. Do you want to know how they are getting rid of their debt? It’s easy…they spend less than they earn and they are budgeting. I hope you weren’t expecting some wild formulas or the easy way out because there are none.   Couple tackling debt   Canadian Budget Binder fans Jen Peacock, 36 and Ken Blowes, 35  from Georgetown, Ontario shared their debt payback story with the world in a video at the The Globe and Mail online. I was humbled to hear how much I had influenced their budgeting journey but as you all know I worked pretty close with the Jen and Ken to help them along because I knew Jen was serious and needed the help. This is probably a Mother’s Day she won’t forget because it’s been an on-going battle with debt where they can now “finally see the light“. Since Jen first chatted with me at CBB she has written “Budgeting with Mr.CBB got us Back on Track” as well as their struggle with infertility. Jen […]

Parents ask son to save money after they were homeless and poor

SAVING MONEY IS YOUR CHOICE   If you want to save money then don’t wait until things come crashing down and you need that money, do it now! Being homeless and poor is not something to take lightly because it happens all around us. For those who have survived and experienced this life many go on to motivate others how NOT to land themselves on the streets. Today’s fan question shares some deep secrets about the time his parents found themselves living on the streets with no savings and nowhere to go. It’s either the parents writing to me or their children because for one reason or another money is a big problem. It doesn’t matter whether you are a student or have a high-profile job if you don’t know where your money is going it’s your own fault when you don’t have anything at the end to show for it all. I’m not talking “stuff” either. I’m talking about cash and investments. If you earn money you should have some sort of system to save money and budget or in the least know your expenses and track them.   Life Choices   It seems from my experience with fan […]

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