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 the fixer-upper house might not be for you: PF Weekly Grab a brew #83

EXPENSES BEHIND THE WALLS   It’s true that our dreams can get crushed when we don’t have the cash to do what we thought we would especially when you buy a fixer-upper house. Of all the people I’ve ever met they said they didn’t feel that renting was helping them to build a financial future for their retirement years. Although this is a wide-open topic that will bring in all sorts of controversy it’s certainly a personal decision that we must make on our own. Acquaintances of ours in their early thirties are looking to buy an older home that is their dream home but the catch is they want a fixer-upper. They do plan to have kids as well in the near future. He asked me my thoughts about older fixer-upper homes since many homes in the UK are very old. I was honest with him but ultimately it was my opinion and they need to make their own. I don’t want to be responsible for one of the biggest purchases of their lives. They are currently renting and have never owned a home before so owning a home is like the golden ticket for them or anyone really. […]

Should you be decorating and renovating when you rent?

WATCH WHERE YOUR MONEY GOES   Decorating a living space makes the space a more inviting place to enjoy for many people. They say the rich get richer and that may be true especially when we give money away when we simply don’t have to. We may not be literally handing over money at the time but the landlord where you rent will be all smiles when it’s not coming out of his pocket. Sure your landlord could potentially deduct renovations to the rental from his/her taxes but why bother if you’re paying for them out of your own pocket? We all decorate our houses from time to time when the need takes us or just a change of décor inspires us. Decorating and renovating doesn’t have to be expensive handmade screen printed wallpaper or exotic hardwood flooring. It can be as simple as painting and that is probably the best return on investment there is. Painting will brighten any room in the home instantly and give it that brand new feeling back. I’ve talked before about decorating your home and which renovations tend to be better than others along with which ones we’ve done to our abode. There is however […]

How we cash in on unused clutter in the winter

EVERYTHING HOLDS VALUE   Don’t underestimate the value of an item because what you may consider junk another may consider a treasure. It’s cold outside especially if you are living in Canada like us. There’s no denying the temperatures in 2014 are by far the coldest we’ve had in a long time.   Clear the clutter   It seems almost everyone is complaining about being stuck indoors and having nothing to do so how about winter pre-spring cleaning around the house? Yes you read that right! I’m always getting emails or fans asking, “How can I make extra money to pay down debt?”. Well sometimes the easiest and fastest answer is right in your own home. There’s no point sitting around the house this winter doing nothing if you have piles of potential cash in unused clutter sitting around your house. Make the most of your clutter and sell it for a nice profit that you can put into your emergency savings or use the money you earn for whatever financial decisions are important to you.   The clear-out   How do you begin to clear out clutter? That’s easy. Every successful clutter clear-out starts with a plan so know […]

Reader question: When should you renovate your new home?

Renovate Your Home When It Is Right For You A fan sent me an email the other day and asked me the question, When should you renovate your new home? He said that him and his wife had just bought a home and they weren’t sure if they should renovate before they moved in or after they moved and wanted to know what we did when we bought our house. Home renovation checklist It was a question that I really didn’t have to think much about because we are in this position now. We did not renovate before we moved in and preferred to save the cash first before renovating. When we bought our home I created a checklist so I knew exactly what I needed to do although over the years it seems the list keeps growing. It was easier to read my list as I was going along rather than trying to remember in my head. Every smart planner will have a list so they have information to fall back on. There is no custom list here, you design your own. Grab a piece of paper and start making notes. I also wanted to have the opportunity to […]

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