How A Guy Managed To Break The Poverty Chain: The Saturday Weekend Review #206

A CHANCE MEETING WITH A STRANGER CAN SOMETIMES PUT THINGS INTO PERSPECTIVE FOR YOU   Breaking the poverty chain seems like an easy thing to do especially if you’ve lived a life where money hasn’t been a stressful event for your family. You also don’t have to live in the hood to be part of the poverty chain even though there is a stigma attached to such neighbourhoods. It’s not just moms and dads collecting money from the government but also for those people who can’t seem to get ahead no matter what they do. Are they doing something wrong? Possibly, yes. There are plenty of families who have a dual-income that simply can’t manage their money which leave them struggling month after month. There is a face for poverty and then there is a hidden face for poverty that can weigh heavily on the shoulders of every family member, especially the kids. While I was making a tea at work there was a guy I had never seen before at the lunch table reading the Toronto Star and having a bite to eat. Out of the blue he says, “I don’t understand why people complain about price increases” to […]

Why Are You Being Frugal When You Don’t Have To Be?

MIND YOUR OWN FINANCIAL BUSINESS   The whole saving money and being frugal movement is always filled with people who just don’t get it. Wanting to save cash is not a new concept even if you think someone shouldn’t have to. It’s amazing how saving money ideas are crucial when running a business but not when it comes to personal finance for some people. Even if you don’t own a business you can bet your employer successful or not is always looking for ways to curb spending. You don’t have to be budget poor to live a frugal life and you can be rich and frugal at the same time-Imagine that! Mrs. CBB and I were at a friends dinner party about a week ago enjoying some of the finest foods including triple brie, prosciutto, melons and a main dish that we would only make for a special occasion. I guess that means we were all special. Most of the people in attendance would be considered “rich” or “well-off” because they own successful businesses or have thriving careers in the medical field. My wife and I don’t typically talk about personal finances with anyone however sometimes we’ve been happy to […]

15 Frugal City-Living Tips To Save Your Budget

LIVING IT UP ON A BUDGET   Living in the city isn’t for everyone—it’s hectic, expensive and not the most natural outlet for frugality. Or is it? I’ve found that city-living actually lends itself very well to the frugal life. There are plenty of ways to extract value and reduce your expenses while living in traditionally high-cost locales. Mr. Frugalwoods and I have done the city thing. Since graduating from college, we’ve lived in New York City, Washington, DC, and Cambridge, MA (twice). Why would we, as notorious frugal weirdos, live in some of the most expensive cities in the world? Well, to be honest, because we wanted to. We were both raised primarily in the mid-western United States and had romanticized visions of the chic, cutting-edge, cultured cities of the fabled east coast. We wanted to prove we could make it, that we could succeed in these notoriously competitive job markets, and that we could maintain our frugal wits in these havens of lifestyle inflation. And we have. The past 8 years have been an incredible experience for us. It has also been instrumental in teaching us what we really want out of life, which, as it turns out, is the exact opposite of […]

You’re cheap if you decorate rooms frugally

Things To Do When Moving Into A New Home No I don’t think you are cheap and you will never hear me say that, trust me. A friend of my wife who has a great job in a senior level position as does her husband feel that we are too cheap when it comes to decorating our house. I guess everyone has their own definition of cheap and frugal but for us it’s simply spending less when we can. We know loads of people who skim the online ads looking for a deal in their community. Newlyweds and those moving into their first place typically have what they acquired over the years living at home or while away at school. With more and more students exiting school with student loans that may take them years to pay off scouting for discounts on home décor is worth the effort, in my opinion. New home new stuff Everything in Cheryl’s house (changed her name) is pristine and has the price tag to prove it. When we were house sitting their cat on the weekend just going inside their house alerted us to the smell of a new home. She keeps it immaculate […]

How we quit comparing financial numbers

Adjusting Your Financial Focus  Some people like knowing what their friend’s financial numbers are, other’s don’t. Comparing what you don’t have to what they do have could hurt you in the long run if you don’t view it from a positive angle. People will complain, moan and groan about what they have or don’t have and why they deserve more or how they worked hard but life crumbled on top of them. Sure everyone has a story and likely a story worth listening to but will anyone really care about what you didn’t do in order to be happy with your life? Note I said happy, not rich and famous. I’ve talked about it before how both my wife and I never did use a budget when we first got married.  We simply spent less than we earned and packed away money when we could after our everyday expenses were paid. That seemed like the common sense approach to personal finance and how people would amass their net worth. We knew that it didn’t matter how much money we earned it was how we were saving it that mattered. You can make $1000 a week but if you blow $950 […]

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