Parents tell son he will create credit card debt with rewards cards

credit card debt

CREDIT CARD BUDGET SAVINGS   I talk about credit card debt on CBB once in a while and I also talk about how credit cards can easily be your friend if you use them properly. Many people use credit cards today rather than carrying cash with them. It’s simple to tap, swipe or insert and enter a pin to pay for a purchase and in most cases it gets you through the checkout faster. We carry credit cards because of ease of use and of course there are perks to using Canadian Credit Cards if you use them wisely. Credit cards have helped many people get back on their feet because they knew money was on the way. One friend of ours was in between jobs and used the credit card to get grocery rewards which helped them to buy more groceries for the family every month. One of our current rewards cards the SDM Optimum has almost 500,000 rewards points which is equal to about $1000 worth of free product. We don’t own the Optimum credit card but if you did you could get even more Optimum points faster.   Credit card debt   How to pay off credit […]

How to turn bad habits into positive goals: PF Weekly grab a brew #77

grab-a-brew-online-review

LOOK UP AND BE AWARE   I don’t care who you are we all have bad habits in our lives whether it be smoking, drinking, drugs, over-spending, laziness, etc.  The list of bad habits can go on and on and what I never gave much thought to was how we tend to focus on the “good habits” rather than the bad habits. Why? We like to feel better about ourselves so focusing on the good and forgetting about the bad habits is much easier to do. I don’t know the exact psychology behind the way the human brain works but when I read an article about what Dean Hovey who met with Steve Jobs in 1978 to design the first mouse for the Apple computer had to say, it made me realize that I needed to make small changes in my life. To paraphrase Hovey felt that although we do something over and over it doesn’t necessarily mean we are aware of our surroundings. Interesting, I thought but true. He used an example of riding his bike to University every day and not being able to recall the roof’s shape, colour or composition when his Stanford University professor asked him […]

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 […]

The Saturday weekend review #38: Dream big and have faith

  Never Underestimate The Power of Your Dreams If you’ve ever had a big dream and I know you have then you know how easy it is to give up on that dream when you lack confidence and faith. Sometimes when we are alone we sit and think about all the things we want to do with our life but never really do much about what ends up on our bucket list. I hope to change that about me and I did starting with this blog almost 2 years ago. This blog started with a small dream to make it a place where people came to learn about personal finance and to share their success and lessons learned in their life. I know if you are a personal finance blogger you can probably count how many times you wanted to throw in the towel because you can’t justify the time you spend blogging or you just lose faith in your ability to grow your audience. I’ve been there many times but with that push from my fans like I mentioned in yesterday’s post I’m still here today. I’m getting ready to embark on the next phase of Canadian Budget Binder […]

Reader Question: Ways money can kill the spark in a relationship

Help With My Relationship Today I have a reader question revolving around money, love and marriage for all of you. I hope after reading today’s post that you, the fans can help Alicia with your opinion. I am only one person and I know that many of you might be in the same position as her or you have been there and can offer up some support. If you have a question you want to ask please email me. You can find all the info on my contact page. Dear Mr. CBB I know you run a personal finance blog which I have been following for over a year but since you are a guy I thought maybe I could ask you a question about our relationship problems that seem to be creating a part in our marriage. When we first were dating we talked about money and our finances so we both knew that we were on the same page. He didn’t have any debt and neither did I since we were quite focused on our careers and staying out of debt. Although we didn’t budget we did talk about a budget after we were married and started to budget […]

Top 3 Reasons why a budget sucks

A Budget Is Not For Everyone Not everyone thinks a budget sucks, in fact we love using a budget but I don’t think a budget is right for everyone. If you are working too much or have too much pressure at work the last thing you want to do is count your dollars when you get home. Funny though, that task is now viewed by myself as a positive in my life rather than a task I “must do” in order to build our net worth. If you know me then you know there will be motivation in this post especially if you are someone who wants to take steps towards a debt free lifestyle. Looking back Some people say ‘I never look back’ but I do for certain things in my life, especially if it’s to learn from an experience. There comes a time when you have to realize that you just can’t change someone. If they don’t want to use a budget, they won’t full-stop. When I was on my own and bought my first home at age 21 I can tell you that budgeting wasn’t for me. Looking back it was probably because I wouldn’t have invested […]