How A Life Changing Illness Shaped Our Financial Future

JUST WHEN YOU THOUGHT EVERYTHING WAS GOING WELL YOU’RE HIT WITH AN ILLNESS THAT WILL FOREVER CHANGE YOUR LIFE.   I’ve been writing about money for much of the past decade but I didn’t always have my act together, financial speaking. In fact, I spent most of my twenties deep in debt, and it took a big, scary, life-changing event for me to have my financial awakening. I’ll never forget the day when my world changed. It was 2008, and my wife had complained of a headache – a pain behind her right eye, to be exact. She was in excruciating pain and nearly went blind, temporarily, seeing only red spots out of her affected eye. An ophthalmologist confirmed it was optic neuritis, an inflammation that affects the optic nerve. After prescribing an incredibly high dose of prednisone to bring down the inflammation, the doctor referred my wife to a neurologist who diagnosed her with Multiple Sclerosis. We were devastated. At the time, we didn’t know much about MS and how this disease would impact our lives. All we knew was that each flare-up of the disease caused nerve damage, which would gradually get worse over time and lead to […]

Forcing your financial belief system never works

YOU HAVE TO BELIEVE IN SOMEONE   Someone always has a financial belief system that will change your life and believes that it will not only change their life but yours as well. Eventually you have to believe in someone, even if that someone is yourself. The pushy sellers will stop at nothing to try and change your mind by forcing their financial belief system on you but when it’s your money, it’s your decision. What is the definition of belief anyways? Simple, it’s what you as a person trust to be the true answer, having faith in something or someone or a proper way of doing something. At least that is what it means to me. In order for me to believe in something I have to trust the source. There is always risk no matter what you believe. When no one believes in your financial decisions what do you do? If no one believes in my way of thinking the answer is easy for me because I’ve never been one to follow the opinions of others unless I found them to be beneficial to me. Financial news lurks everywhere, online, on the radio, in print and at your […]

When the sole provider of the house loses their job

BE ONE STEP AHEAD OF THE GAME   When you are the sole provider of the house and you lose your job you’re now faced with a bigger reality that I hope you are prepared for. I enjoy getting emails from my fans and just this weekend I received one that really was unique and it’s a situation many people fear. I’ve talked about strategies to survive unemployment, job loss and disability when it comes to work and covered everything from emotional well-being, budgeting to emergency savings. A Canadian Budget Binder fan sent me an email the other day telling me her husband who is the sole provider for the family lost his job. She was thankful that she was ahead with the bills and had some savings to get them by but she was not sure where to turn next. They are not Canadians rather live in the USA and so they both took on the only jobs they could find which are commission based. The reality is that no matter where you live this could happen to you. This could happen to a single person, or a single parent with only one income.   Losing your job   […]

Do you live in a financial independence la la land?

Do the math it works   A state of being out of touch with reality and in this case with money in debt…. yep that’s living in a financial independence la la land. You dream of retiring and doing anything your heart desires because you were smart with your money when you were younger but were you really? You don’t have to be married or in a relationship either to be a donut with your money. I don’t normally watch too much television but last night for the very first time we watched Money Moron staring Canadian financial guru Gail Vaz Oxlade. You either love her or you hate her because of her no-nonsense to the point approach with personal finance. I happen to think if you beat around the bush with finances you get nowhere. Sometimes it’s hard to hear the truth but if that’s what it takes to wake someone up from a financial independence la la land then so be it. It’s amazing how many people who want to retire early and think that the road to that money independence is easy peasy when in fact it takes lots of work. There’s more to the fat bank […]

Move In With Your Partner: The financial steps

TALK ABOUT MONEY FROM THE START By: Michelle A couple of weeks ago a friend of mine asked me a question: “Should I move in with my boyfriend?” Normally, I’m one to shell out advice in a matter of seconds, but this one had me a bit boggled. Moving in with a boyfriend or girlfriend can be quite a big leap for the relationship, and moving in too soon could have major ramifications both emotionally and financially.   Move In Ready Conversations   I’m a bit of a narcissist when it comes to love and relationships. I believe that the stars have to do more than just be in line for it to be “the right time.” Each person has to chip in and make some major steps- and that is especially true when it comes to getting financials ready for the big move in date. The first major step is to reveal your finances. Move in without knowing what’s in your partner’s pocketbook? HECK NO. While exchanging credit reports takes away the fun of it, a couple should be comfortable enough to sit down and hash out debts. If one person rebels or squirms away, that move in date […]

October 2013 Net Worth update:(+1.94%) Defending spending habits

SPENDING TOO MUCH – ARE YOU DEFENSE SPENDING? Using our budget as a spend tracker has been our saving grace this past couple of years but recently we’ve been spending more money. In our budget update for October we recognized the need for a flexible spending plan but also a plan to continue saving our money. If you always have to justify your purchases then chances are you likely don’t need to spend the money and your defending your spending habits. I don’t think we went too far overboard in October but we certainly spent far more than anticipated once again. In our October budget update I talked about romance and money and how that affected our budget this past month. I also wondered whether many others feel the same crunch with seasonal spending. Seasonal spending is where you spend money just because you think you need to buy something for someone or yourself because the weather starts to get cold, you are indoors more and the holidays are right around the corner. If you spend money just because you think you have to it could really dent your budget and your overall net worth like it has for us […]

A Personal Story:Chores and Money Lessons Growing Up

Teaching children about money is one of the most important things a parent can do for their child. It has the potential to set them up for the rest of their lives as financially responsible adults, or if it is neglected, adults who just don’t understand why they can never get ahead financially. My parents taught me about money through household chores and this is how it unfolded. Parents, Chores and Money I didn’t realize it when I was younger, but my parents started teaching me about the value of money from a young age. It wasn’t your typical classroom style teaching experience where the teacher comes in and says – “Now Glen, you’re going to sit here and learn about the value of money. Pay close attention, because there will be an exam at the end of the week!”. No, it was a gradual learning exercise that started when I was a young boy. Each week my parents set out standard chores that I was expected to complete. Things like: Making my bed every day Doing the dishes and clearing the table after meals Getting the mail Taking the bins to the curb My remuneration for completing these chores was $5 a week allowance. […]

Bullying To Homeschooling Our Two Kids On One Income- 1 of 2 Part Series

My name is Nicole and I live in Calgary, Alberta and have homeschooled my two boys, ages 14 and 10, for 2 years now. Homeschooling was our oldest child’s idea due to bullying and other peer issues at his elementary school. They were in the public system before that and it was a huge nightmare for us. Homeschooling has been a huge blessing and stress relief for our entire family.   Why We Chose To Homeschool and  the process   Our oldest was dealing with major bullying issues in elementary school and it actually landed him in hospital for a week. During this time he had talked about homeschooling but didn’t think we would be able to do it because my husband and I worked full-time. We explained to him that if he thought it would help him and relieve some stresses, we would look into it. It must have been meant to be because of the way things lined up. He had mentioned this on a Thursday. The following Wednesday we went to an Open House for the Centre for learning at Home. The next day we went to an Open House at CHER where we can buy all of […]

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