Time to get serious with numbers: Our budget Feb 2014

CRACKDOWN HAPPENS NOW   The numbers in this months budget update were a bit scary for us as we just made it with a bit left for our savings account. It truly is more about how much you spend when it comes to the final numbers. Although we earned a bit more this month with my new job the money went just as fast. We did have to pay property taxes which took just over $900 but that money came from the projected expenses account. When that big bill comes due we’re happy the money is ready and waiting. For others they would rather not deal with any more numbers than they have to so a portion of their city tax bill comes off their mortgage payments each time they are paid. That seems simple enough although I’d rather keep our money in the bank to earn some interest rather than it sitting in someone else’s bank account doing the exact same thing. Do you pay your own city taxes or do you have a portion paid each time you pay the mortgage?   Where the money went   This month was a particularly busy month for our budget and […]

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   […]

How I Turned My Passion and Skills Into Making Extra Money

  HARD WORK AND DEDICATION REALLY DO PAY OFF   My friends always ask me how I make extra money and I tell them I took what I do best and turned it into cash! Up until 4 years ago, working a full-time job was as easy as getting up, going to work, coming home and collecting my pay-check. Then I had my son, which made things a little more difficult, 19 months later my daughter joined our family, followed 4 months later by a divorce. Not so easy anymore……Many nights I laid awake thinking “how can I do this all on my own?” How can I make extra money so that the kids can do things like swimming lessons and soccer? I could not wrap my head around how I could go back to work full-time. I have over ten years experience in the landscaping industry, but now I have a life that makes that job impossible. I have always enjoyed working so I decided I would look for a part-time job instead.   Part-Time Job   I found the perfect part-time job while viewing an online posting board. No experience needed!! I got that job and for two years now […]

Get Out Of Bed And Make That Change

Picture the lazy weekend morning: The sun is bright, the day is young, and you’re in bed. For many of us, myself included, the temptation to stay in bed and enjoy the comforts of sleep and warm blankets is easy to do. It’s simple to enjoy the moment, to be still and content. I’m pretty sure that even those with uncomfortable beds or lumpy pillows enjoy these lazy moments and would rather stay in bed than confront the inertia of the day. Similarly, for many people, it’s easy and comforting to go to the same job every day, to know what to expect, and to go with the flow. Even when they are not happy with their career or their co-workers, it’s easier to stick with what is familiar. Change is scary. For me, the fluffy pillow was the four weeks of vacation I received each year. The warm, cozy bed was the defined benefit pension that I could expect to receive at the end of the road. The relaxing state of wakefulness that we experience in the morning was the comforting knowledge that each day, I would do similar tasks with the same people and collect my salary twice a month. But […]

Strategies to Survive Unemployment, Job Loss,Injury and Disability At Work

When you get laid off, injured or become unemployed the money may stop coming in but the bills never stop. Are you prepared for this situation if it happens? Red Alert….panic sets in, frustration, stress, what will you do?  Collection agencies will come calling and doing everything in their power to get money from you if you don’t pay. They will even go as far as taking you to court if they believe you can pay and have exhausted all other avenues. Investing in yourself is, if not the most important tip you should take away from this post. You are your number one priority and you should take the time to know who you are and what you have to offer. That’s not all though, not everything you have to pay for comes in the form of a bill. You still need to pay for your food or whatever else you pay cash for throughout the month. Thank goodness for local food banks who try their hardest to keep the shelves full for local families in need and to those that donate. Please, I have to say, for goodness sakes stay away from those Payday Loan shops or you […]

Maternity and Parental Leave Part 2: Budgeting

Maternity and Parental Leave Part 2: Budgeting Ideally, you’ve gone on maternity leave only after working for at least the minimum 600 hours (about 15 weeks full-time) in the last 52 weeks or since your last Employment Insurance claim. This will ensure you receive the current maximum payment at $447 per week. For many families, this means mom (and maybe dad later on) will be bringing in half of their previous income for a year unless they have a paid maternity leave or top up with their employer. In many cases, maternity leave benefits can be far less than half. Here are some ideas on how to budget for this change in your family’s finances. Plan ahead. If you’re pregnant, or just planning to get pregnant, now’s the time to go on a money diet and begin budgeting for a baby. Trim your budget and do your best to live off your projected maternity leave income. Save that unused income to provide you with a cushion during your mat leave, to cover some of the larger baby items, or to pay down debt. Don’t assume it will be easier to save more money when you’re not working, because you won’t be tempted […]