Young adult teaches us about being house poor in 15 minutes

House poor

DON’T GET CAUGHT SINKING YOUR SHIP   Being house poor doesn’t necessarily mean that you simply have no money but it can mean that you have too much house you can’t afford. House poor can also mean you have too much stuff, no money and/or piles of consumer debt that you are struggling financially to make ends meet. The term “poor” means so many things to everyone that the only way to describe it from a financial perspective would be lack of money. Some people may not consider themselves poor until starvation kicks in and they have to go to the food bank or when they reach the point of bankruptcy. Others may take on a different view but no matter what poor means to you it’s not a place that people “dream” of.   House poor is not easy living   You might consider yourself house poor when you can’t pay your mortgage which could be for a variety of reasons. There are also plenty of poor people living in the ritzy part of town who are struggling to take control of their financial situation. I think there are many misconceptions of the word poor and the only person […]

Do you live in a financial independence la la land?

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

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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 […]

How to plan your wedding flower budget in advance

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PLANNING YOUR FLORAL BUDGET   Wedding planning is an exciting time for a bride and groom-to be even though many girls have their dream wedding thought up years before the big day actually happens. Proper wedding planning can end up saving money in some of the more expensive parts of your wedding budget. Take the time to know how much you have to spend and how much you are willing to spend in accordance with your personal tastes. There are so many things to think about when it comes to planning your wedding including your dress, the venue, guest list, menu, flowers and décor, just to name a few. If you have a tight wedding budget or simply don’t want to spend an outlandish amount of money on your wedding, making a couple of right decisions in the beginning may pay off for you in the end. My mom is a florist who over the years has worked with many brides-to-be and I am sharing below some of her tips for saving money on your wedding flowers.   Skip unnecessary planning costs   The internet sure has become a handy tool and is a great place to start to look […]

Dating, career, life and true love: The bundle exposed

By: Katrina Dealing With What Life Hands You We all want our dreams to be bundled up into some sort of fairy tale of a life but who are we kidding, no one has the perfect relationship, career, family all bundled into one. I always dreamed of one day having the perfect family, a couple of kids and a hardworking husband whose family meant the world to him. While we all know life doesn’t always go as we hope it will and it’s without a doubt that we must deal with road bumps along the way. Divorce is an emotionally and mentally draining experience and if you’ve been through it once it’s not likely something you want to experience again. Healing and picking yourself up from the emotional roller coaster of a divorce takes time and when kids are involved it can be even harder to see the light at the end of the tunnel. Dating I’m sure others will agree that being a single mom or a single dad makes dating interesting and harder to do especially when you work full-time and are sleep deprived. Going on that first date after divorce is not always easy because there is […]

Money isn’t everything happiness is

You Can’t Expect Money To Buy It All Money isn’t everything happiness is and to some people having money in the bank means you must be rich or you have a good job. That is far from the truth but only those who can see past what others have then they too can focus on creating a life for themselves that makes sense to them. This week has been all about relationships and money and to be honest it’s a topic I enjoy because the struggles that many people go through when it comes to money and personal life need to be heard. There are things money can buy and things it can’t such as love, respect, happiness and likely a whole host of things that many people take for granted because money is involved. Is it better to be rich and miserable or poor and miserable? I guess only you can answer that question. How many times have we heard of famous actors and musicians committing suicide and they have all the money in the world? Money sure is powerful but is it powerful enough to take away the passion for life that is deep inside your heart? Money is […]

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 […]