Change Your Financial Behaviour From Zoom To Panoramic View : The Saturday Weekend Review #163

The Saturday Weekend Review logo

LET YOUR MIND TAKE THE WHEEL   Changing your financial behaviour to take on a frugal perspective is the first motivational step to help you to achieve your money goals and become rich with freedom from debt. If your financial behaviour consists of creating debt and losing sleep over how you will pay for it then you need a wake-up call and you need it now. Do yourself a favour and wash your face with cold water and look at yourself in the mirror and say, “Today is going to be the day I change the way I view money” and don’t look back. Just as a photographer may pan out to showcase an entire landscape it’s important to view your finances from this perspective. Simply zooming in on one aspect of your debt hoping things will change for the better is not the only solution. Look at your financial house from all angles to successfully carry out a debt reduction plan and build the wealth you dream of. Too many people these days think that money grows on trees with low interest rates enticing us to shop. With the availability of credit it’s easy to get into a vicious […]

Why Alberta has the Highest Consumer Debt in Canada

Alberta Debt

YOUR DEBT YOUR LIFE   Experiencing some level of debt is quite normal and in most cases necessary for Canadians to live full lives with families and careers. At some point you may say to yourself, I’m going to buy a house, a car and even more, some have families. Children are a huge expense and unexpected costs become a reality as you adapt to parenthood. Yes, we all know how easily personal debt can be created and accumulated and tough to get rid of. We take on credit card debt, mortgage loans and car leases and do our best to work and stay on top of our personal finances. In recent years, household debt in the homes of Canadians has steadily increased on average and the Province of Alberta has had a spotlight on it ever since. Related: What pushes people over the edge financially Today we’re looking at why newspapers and financial journalists have reported for years on the state of debt in this province since its role as an energy exporter in Canada’s economy is unique and the consequences financially have in past years seemed overwhelming. With the national average household debt ratio quite high in Canada, […]

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

WHY LIVE A FRUGAL LIFE IF YOURE ALWAYS GOING TO BE IN DEBT(1)

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 […]

Stay at home new mom causing financial strain and marital upset

new mom stay at home mom(1)

LIFE CHANGES WHEN THE STICK IS POSITIVE   So many people get divorced after having kids and now I know why, parenting is not easy but 110% worth the effort. I don’t think there is anything that could prepare you for becoming a parent, not even having lots of siblings. When we found out we were having a baby we knew that our lives were going to change, including our finances. My wife also knew that she was going to be a stay-at-home new mom and feared not knowing other moms to hang out with. Over the past year she has met plenty of other moms on social media, at the park and other community events. She says it’s getting easier but she does miss getting out whenever she is inside for a few days at a time with our son. These days we tend to do lots together as a family which helps our relationship to grow and our son build a bond with the two of us. Mrs.CBB is a people person so it’s important for her to get out of the house to keep her spirits up even though our son is the light of her life. […]

Couple Cancelled Wedding and Used $3000 Stag Party Cash For Debt

stag party

EVERY GOOD PARTY HAS AN ENDING   Unfortunately for this guy his stag party ended with excitement but his wedding never brought him to the alter. Every year couples get married but before the big day they may hold a party to raise money for the wedding. Some people are against being asked to participate in funding a wedding by attending a Stag Party (for men), Hen Party (for women) or a party for everyone also known as a Stag and Doe or Jack and Jill. There are no shortage of names for these kinds of money-raising events which consist of lots of drinking and plenty of fun games. That’s only the first stage because there may also be a wedding shower, Bachelor Party, Bachlorette Party and so on mainly orchestrated by the wedding party, family or friends. Some pre-wedding events are merely just getting out for the last time as a single male or female and partying with your friends. Personally I didn’t go out with my mates or have a Stag Party. My wife and I were pretty low-key about our wedding and saved the money ourselves, although it was a frugal wedding to begin with. A Stag […]

grocery game monthly challenge

When Your Food Budget Is Out of Control You Should Do This! : The Grocery Game Challenge #2 Sept 14-20,2015

when your food budget is out of control you should do this(1)

FINANCIAL TRUTHS OFTEN HURT   Most people struggle with an out of control food budget and maybe why you might want to read this post today. I’m here to tell you that there is only one thing you can do to fix your out of control food budget. Don’t worry, I’ll get to it below but I want you to read something first. Unfortunately, not everyone is ready for the truth when it comes to debt and their money until they need to do something about it. Self-control is easy for anyone to forget until we have to consider it in our lives. For some people it’s easier just to live free and go with the flow which only works on certain aspects of our lives. Our worst enemy was using coupons because we spent more than we should have just to save money. It turned out we bought too much food, went over budget and wasted quite a bit in the end. We kept telling ourselves that it would save us money in the future. To an extent it did BUT it got to the point we had no interest in the tonnes of food we were stockpiling. We […]

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 […]

Peer-Pressured Party boy is failing school with $30,000 debt

Nightclub party University education

POPULARITY CAN BE COSTLY   Graduating from high school and moving on to higher education is life-changing for many young people who then turn to their friends for support. I remember when I was getting ready to move on from secondary school to University  in the UK I had no idea what I wanted to do with my life. I completed some education research through my school and finally decided on a career path that I wanted to take and a school that I thought I might enjoy going to.   Education or Friends   I had friends growing up but I was never one who was always out partying because my time was very limited. My parents always kept me busy and when I went on to University I kept myself busy with my studies and my part-time job. I needed a balance of friendship but that was small compared to wanting to graduate and find a good job. Some but not all the friends that I did have always wanted to go to the clubs drinking but I was never into all of that. I’d go once in a while but it wasn’t really my thing, thankfully. Personally […]

Do you know a credit card debt victim? : The Saturday Weekend Review #111

The Saturday Weekend Review logo

WILL ANYONE LISTEN?   We all know someone who constantly whines about money and plays the credit card debt victim role yet does nothing about it. Having credit card debt and struggling to pay it off is a stressful place to be for anyone especially if you are already on a tight budget. I certainly wouldn’t want to be that person but I would give up whatever it takes to get out of it, no excuses. One of the main reasons people stay in debt is because they spend more time trying to justify why they can’t get out of debt rather than doing something about it. I know one woman who started cleaning houses on the weekends when the kids were with their father just to get rid of credit card debt she says she created when they split up. Some people might think that I don’t know what it’s like to have limited income or debt so how could I possibly share my thoughts on the topic, but think again. I may not have had credit card debt before but I have had debts in the form of  a mortgage, education, vehicle, etc. I even owed my parents […]

Million Dollar Baby: Should travel insurance have protected them? : The Saturday Weekend Review #98

travel insurance

 A MEDICAL BILL SO BIG…   We believe travellers insurance protects us but this story should be an eye-opener for all travellers going to the USA and abroad from Canada. Baby Reece’s parents a couple from Saskatchewan found out the hard way just how easy it is to spend a million dollars after giving birth while away from Canadian soil. I have to talk about this story today because I know so many people who travel to the USA for one reason or another if even for a short trip to save money in their budget. With Black Friday upon us and the holiday season many Canadians cross the border to find deals but be careful when leaving Canada. How could the birth of a child cost almost one million dollars when one has travel insurance?   Travel Insurance Surprise   Jennifer Huculak-Kimmel from Saskatchewan was shocked to get an enormous medical bill after she went into labour prematurely October 2013 while travelling in Hawaii. Jennifer was 6 months pregnant when she gave birth which meant her baby was put in the NICU for 2 months. The bill for this stay was nearly one million dollars! I wasn’t shocked to […]

Why clearing debt is like dieting

donuts dieting debt

EATING AND SPENDING – TWO OF LIFE’S GREAT PLEASURES   Being overweight and having too much debt both occur through over-consumption. But what is more interesting than that simplistic labelling is the close parallels between the difficulty that many people have in dieting and the problems others face in trying to clear their debts. It’s often a lot easier to sort out other people’s problems, so if you are reading this because you have debts, think what you would say to a friend who was struggling with dieting… and then look at how that advice might translate into tactics for dealing with debt. If you are thinking this is all going to be rather depressing, it’s not all bad news. For a couple of these areas, people trying to lose debt have a much easier time than people trying to lose weight! So what might your friend with a weight problem be saying?   “I’m sticking to the diet but the scales aren’t moving”   This is a pretty easy problem to diagnose, unless you are the dieter of course. If your friend isn’t losing weight, then they are consuming too many calories. If they think they aren’t, that is […]

How To Escape A Financial Mistake Without Selling Your Soul

Financial mistake bomb

 LIFE IS FULL OF FINANCIAL LESSONS   I’ve made a ton of financial mistakes over the years from buying a timeshare, to making bad investment choices, to refinancing to a bad mortgage. The reality is we all make bad choices with our finances at one point or another. My worst financial mistake came when I bought a $4500 timeshare on my honeymoon of all places because I thought it would be a great to force us to take a vacation every year. This lead into other financial issues when we decided we wanted to sell our timeshare and found out it’s next to impossible to sell them. We tried for over 2 years to sell our timeshare with literally no luck at all. Our lowest point came when we decide to sign up for a couple of timeshare resale companies and this only lead sticking $1100 into a losing battle. Finally, after 6 long years of owning this timeshare, paying maintenance fees, and losing our money to the timeshare resale companies, I was able to contact my resort and get a buyback option that allowed me to get out from under this black hole that had done nothing more than […]