Spending cuts and increases: Budget Update Jan 2014

COUNTING THE CHANGE   Staying on top of our end of 2013 budget spending cuts and increases are going to be critical for us in the 2014 year. If you missed our December 2013 budget update you can go back and read about where all of our money went and how our budget has changed for 2014. I’m pretty sure that 2014 will be full of surprises for us so we want to be prepared for the unexpected at least with money set aside for emergencies after the mortgage is paid. With our mortgage coming due in April to the exchange rate rising we hope that we are off to a bit of a kick-start. Hopefully in the next month or so we will meet with our financial advisor to go over our investments. We’d like to make some changes for the 2014 year and maybe even talk about if we can get a further discount for being 2 years smoke-free on our life insurance policies.   Spending cuts   Spending cuts came to us in the form of having to spend less in a particular budgeted category or having to move money in the budget to balance it out. […]

PF Weekly grab a brew #53: Free excel budget template takes off for 2014

BUDGET ON THE BRAIN?   Unlike New Years diet and exercise videos, budgeting your finances doesn’t have to be painful. Having only enjoyed two days of the New Year I have noticed a common influx from viewing site statistics. My Free Excel Budget Templates for creating your own budgets have been popular to say the least. There is no better time than right now to start your budget and for some eager viewers, they have wasted no time in showing that. The beginning of the year is the best time to start your new budget if you’re already familiar with them or to start your first budget from scratch.   A reason to budget   For some people January bills can be daunting especially after the holiday period. I’m sure there’s always some items you bought before Christmas in the grand hopes of using them and yet failed to utilise them. I’ve done it a few times, I just learned and moved on. That’s what budgeting is all about, learning where your money goes and then correcting the situation. Information is the best tool you have and only you have all the information to start your own budget spread sheet.   Being on a budget is good for […]

PF Friday Grab a Brew #48: How to ask for help when it comes to money success

YOU NEVER KNOW WHAT SOMEONE HAS TO SAY UNLESS YOU ASK A QUESTION Money success to me means that we are in charge of our own lives and how it plays out really depends on many factors with the main one being understanding where we stand financially. When it comes to our personal finances we were never the couple to ask for help nor did we disclose how much money we made or saved because we simply didn’t want people to know. Starting the blog CanadianBudgetBinder.com was and still is a way for me to talk about personal finance and how it applies to our budget but also to open up and learn about others successes and failures. When I first started chatting to my friend over at Nurse Frugal and her husband whom she calls Mr. BT almost 2 years ago they were on a journey to become debt free including their mortgage using a budget and Dave Ramsey principles. They have now paid their mortgage in full as of November 2013 an exciting time for this young couple who worked so hard to reach this goal which you can read about it in their latest post “Freedom”. What […]

Budget help for families who want out of debt

Never Be Afraid To Ask For Financial Help I had a reader contact me the other day and asked me for my Canadian Budget Binder excel spreadsheet that you see me post snap shots of each month when I post our budget update because he said their finances are in chaos and they risk losing everything. It’s not easy asking for help when it comes to finances because for many people talking about their money is taboo so they suffer in silence and continue to pile debt on top of debt. Although it seems like lately I’ve seen a shift in those wanting to break-free from their debt and the emails to my inbox have been flowing through daily asking for help. Sinking your financial ship doesn’t have to happen nor do you have to feel shameful of why you are where you are financially because we all have our reasons and no one should ever judge. What I do encourage is for people to speak up whether they are already in a crisis or believe they are headed that way. Most people already know they are going to be in trouble financially but there are those few that will […]

Is Budget Failure Your Own Fault?

WHEN YOU AREN’T SURE ABOUT YOUR MONEY DISSECT IT   “Budget failure is your own fault“, was the response from a successful friend when I asked him why failure rates were so high among some people who try to use a budget then scrap the idea. It may sound straight-forward and harsh but coming from a guy who came from nothing and busted his ass to do anything he could to save money and build his dreams it’s tough not to listen to his story. I’m not so sure how much I agree with him but to a certain extent it’s not the budget that fails, it’s the operator of the budget and circumstances that surround it. It’s no surprise that some people have no problem spending more than they earn but they are first to challenge all the reasons why they can’t get a second job or earn extra income to pay down consumer debts. Then again anyone would agree that not much elbow grease is needed to spend money as opposed to earning it. When Cindy shared her story with us at CBB about how she changed her life after turning to credit cards because she couldn’t make […]

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