The Saturday Weekend Review #4 January-Marketplace On Bank Fees~Magnifying Glass Needed!

Weekend Review

While eating dinner last night I turned on CBC Marketplace one program I actually enjoy watching on the television here in Canada. If you are not familiar with Marketplace it’s a program that backs Canadians as our consumer watchdog now in it’s 40th year. Marketplace co-host Erica Johnson asked Canadians “Do you have a gripe about Bank Fees?” and busted the big 5 banks. This was great, I almost wanted to break out a bag of Orville Redenbacher, finally someone is speaking up. She says that people feel that banks are “ripping them off”. It’s not surprising when we hear that some Canadians are forking over $50 a month. According to the Canadian Bankers Association spokesperson in the show, “31% of Canadian pay no fees” and the rest, well I’m afraid, you do. When was the last time you sat down and went over all your bank statements to check how much you pay for fees?

Preet Banerjee, an independent Personal Finance Expert and Blogger at WhereDoesAllMyMoneyGo.com voiced his opinion and says, “we are partly to blame because we don’t keep track of all these fees” and I agree. It’s the same with budgeting we need to know where our money is going, how else can we effectively manage it if we don’t?  What was interesting was when a money coach was recruited for one Vancouver family and able to help them save almost $1000 in yearly fees. Not surprising to hear she stated they seldom go into a bank to see a teller, “we do alot of it online” questioning why they are paying so many fees.  All of these fees add up so unless you want to hire a money coach to sleuth your personal finances, it’s up to you to read the fine print. Greet says, “the fine print is only going to get smaller and the documents bigger when it come to financial services“.

I for one cannot stand bank fees in Canada hence why we continue to bank with President’s Choice Financial where my wife has been for many years. Now, I’m not saying to get rid of the bank tellers, just the opposite because not everyone is computer savvy or not have internet for that matter. What I’m saying is make the banking experience a cost-effective, realistic experience for Canadians and stop gouging us for money when clearly the banks are not hurting for profits. One person on the streets of Toronto stated, “why do I have to pay to take out my own money?”. Good point considering the amount of profits they are making using our money, but I guess for now that’s the price we have to pay.

I understand a business needs to make money to survive and last night Erica points out the banks made a whopping 28 Billion dollar profit in 2012 so it’s not like they are hard up for cash. I think it’s time the banks cut Canadians some slack and make banking a bit more budget friendly when it comes to fees and our pocketbooks. Preet says, “6-7% of the banks profits come from bank fees”, no shocker there.

Speaking of Fine Print….

One New Westminister B.C. mother was displeased to find out her once “free banking fees’ that were waived because she kept $1500  in the bank had changed. She was now required to keep $2000 in the bank otherwise a fee of $9.95 would apply. They did inform her though, she needed to read the statement and another reason why it’s so important to read that fine print.  According to the Canadian Bankers Association spokesperson banks are required to give 30 days notice of any increases.

Another guy was “thoroughly pissed off” at TD Canada Trust and felt he was “led down the garden path” and I would be too. They failed to tell him outright that his mortgage was a collateral mortgage rather than the conventional mortgage we are all used to. Don’t worry I had no idea what a collateral mortgage was either and neither did most when Marketplace asked on the streets.

A collateral mortgage is one where the piece of real estate is used to secure the loan.  TD announced in late 2010 that all new mortgages would be considered collateral mortgages. There are cons to this type of mortgage and according to Canada Mortgage news this type of mortgage cannot be transferred. Best of it is, no other banks will accept a collateral mortgage and neither will TD. You lose your negotiating room when the mortgage matures, just another marketing ploy to try and force you to stay in my opinion.  He didn’t find out until getting ready to sign documents the day before closing in the lawyer’s office.

If you think that’s bad enough they go on to talk about Mutual funds and the fees you might be paying for and not even know. I agree with Preet when he says that the banks need to be forthright and transparent. They should be telling us more information about our money, the truly important stuff that they know we need to know and that they would want to know if they were the consumer. We shouldn’t have to pry the answers out of them. Don’t pull the wool over our eyes because you think we won’t know any better, or you think we won’t care because that’s far from the truth.

Should Canadians start reading the “fine print“, you bet, in fact I did just that this morning with a pamphlet that came from a company I receive services from stating their service fees will be increasing. So instead of tossing what you think is “junk” in the garbage when you get your statements, make sure you take a moment to read what they have to say. Make sure with anything you are signing that you read the terms and conditions and don’t feel like you are in a rush to do so especially when it comes to potentially the biggest purchase of your life, a mortgage. Legally, most institutions will do what they have to and make sure the information is in the document even if you need a magnifying glass to find it, but they won’t force you to read it, that’s your call, we can’t say “we didn’t know”.

You can watch the full Marketplace episode here and I encourage you to.

Questions: What are you paying for bank fees? Do you read the fine print?

Chocolate Brownie Cake

Chocolate Brownie Cake

Chocolate Brownie Cake- YUM! Have a Slice of that my friends (don’t pretend you’re not wanting to lick the screen right now), and check out all the amazing Bloggers that linked up to this awesome site called Canadian Budget Binder. I think I’m going to start creating my own Brownie Cake recipe soon, this looks delicious.

Canadian Budget Binder Mentions Around The Web

Canadian Budget Binder is fun place where people come to not only learn about personal finance but also to share. 

Carnivals
Canadian Budget Binder’s Weekly Post Recap

I’m currently accepting guest posts. If you are a blog owner or fan who wants to share a story email me today with your topic ideas! I can’t guarantee everyone a spot but give me your best topic pitch and show me what your work looks like!

web search terms

What People Searched to Find Canadian Budget Binder:

Search terms really help me to understand what people are looking for at Canadian Budget Binder! Any typos below are simply how the person who searched typed it in search, or me ;-)

Top Pick: KFC Yard Sign- Because that’s what I want on my front lawn, lol

  • Slave Quotes- I have no idea but no slave action going on in here unless you mean slave to taxes…. lots of that going around.
  • Sexy Saying to Him- Sexy, yep budgets are sexy….
  • Best Oiled Ass- Nothing oiled here except my pork butt shoulder for crockpot pulled pork…. lol
  • Why Does Ryan off of CBB wear tin foil on his fingers?- Who’s Ryan and I must check this out…
  • Getting 25,000 to finish a basement or buy a new car in Canada if I buy a house- Looking for the magic 8 ball for the answer on this one I think
  • Keeping red rose tea in the freezer- Never thought about putting tea in the freezer

It's Not About How Much Money You Make It's How You Spend It

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The Saturday Weekend Review #1 January 2013

Weekend Review
What’s Been Happening at Canadian Budget Binder?

With the New Year comes thought to personal finances for many and it’s no exception for our family. Earlier this week I put out a blog post detailing the changes we made to our 2013 budget and why we made those changes. Planning your personal finances is not always the easiest task for most so keeping the process simple and clean is the best route especially for those who have never used a budget before. I’ve been getting many emails from fans who want to test out our budget spreadsheet which I am happy to see. Thank you for all your kind notes and emails as I hope that all of you continue to battle through the tough times with a positive outlook.

Around the Home with Mr.CBB 

If you don’t know about me I’m from the UK and struggled with communicating when I moved to Canada. I know you’re thinking, “but you speak English” although what you speak and what I speak are two different things. I struggled to understand some of the words people were saying to me at a million miles per hour but how to interpret them. I’m still learning all the differences with words not only the way I say them but the way they are written. A good example: I say aluminium as A-Loo-Mini-Um where Mrs.CBB says A-Loo-Min-Um which sounds wrong to me but that’s what I’m used to. She says the same about the way I say but slowly we work through it but not without many laughs that’s for sure. I should really put together a post on what I’ve learned since moving to Canada.

So, last week I continually was coming across what I thought was an typo but apparently it’s not. I read online in an article about  ”personal finance advisers” and thought well surely advisers should be spelled advisors. Well here’s what I came up with when I searched What is the difference between advisors and adviser?  I found there is somewhat of  a difference with adviser being an alternate to advisor. It does make sense to me the suggestion that “an adviser is someone who gives advice” where an “advisor is tasked to specifically give advice”.

Do you use advisor or adviser?

Clean, Clean and more cleaning….

We started off 2013 cleaning and organizing everything we could around the house. We like to get rid of items we no longer use or have used in the past 6 months a year. Clutter is one thing that doesn’t work well for us as we like to walk through our house without banging into things or stepping on Aunt Betty’s tea kettle from the 50′s. Like our finances we like to keep the rest of our life in check which means we talk alot about not only day-to-day activities but our visions for the future. That is what 2013 will be all about our visions for tomorrow which mean renovations and around the house DIY projects for me. Looking at kitchens and bathrooms, colours, designs, decor is all fun (until you see the price tag). That’s why our savings plan will be critical this year because renovations can be money wasted or invested depending on what you do.

What are your plans for around the home in 2013?

Until next week….prepare to plan because if you fail that you will stand still. -Mr.CBB

Canadian Budget Binder’s Weekly Post Recap

I’m currently accepting guest posts. If you are a blog owner email me today with your topic ideas! I can’t guarantee everyone a spot but give me your best topic pitch and show me what your work looks like!

Blogs That Shared Us With Their Fans This Week!

I know many of my fans read this post as they tell me they wait for it each week. To all of my fans please check out these personal finance Bloggers below and follow them. I read their Blogs everyday and I know that you will benefit from them as well.  Come back each week as I will name other Blogs that I think you should follow!

Thanks to all the Bloggers that link up and share my posts and this is why I do my best to share your posts with my Fans via social media, so thanks! -Mr.CBB

(If I miss You..please let me know as I didn’t get the Ping back and I will include your post next week as this runs Sat to Sat so if you linked me on Sat it will show up next week)

My Money Design- Welcome Back To Work; Did You Notice Your Paycheque Was Lower?

Emily’s List (credit cards dot-com)- Welcome to 2013 Edition

Work Save Live- Personal Finance Week In Review #45

Modest Money- Beginning of 2013 Favourite Blog Posts and End of 2012 Blog Update and part 2 (I think Jeremy really likes CBB but that’s OK we really like Modest Money)

Vix Money- Weekend Links Happy New Year’s and Dec 2012 Spending Plan Results

Finance Fox- Weekend Recap Hello 2013 and Money Talks

IHeartBudgets- Weekly Wrap Ups, Mentions and Good Reads #26

Frugal Rules- Frugal Friday Posts that Ruled! It’s 2013 Edition and Month End Extravaganza

Debt Round Up- Weekly Personal Finance Round Up

Budget and The Beach-Link Love Week in Review

My Own Advisor- Out With The Old In With The New

The Career Advisor- How To Make Friends At Work shared my British Spud Nuts Recipe

Club Thrifty- VIP Round Up -15th Edition

Reach Financial Independence-Little House in Guatemala week 8/9 recap

The Family Finances- Friends of the Family Holiday Edition

Lil Suburban Homestead- Lazy Mac and Cheese… shared my Cauliflower Bake recipe and Canadian Budget Binder Free Budgeting Tools with her ham rolls! 

One Smart Dollar- Personal Finance Week In Review

The Outlier Model- Mentions New Year’s Resolution Canadian Debt and Tackling Personal Finance

Carnival Mentions: I’ve just started to submit here and there to carnivals.

Nerd Wallet- Nerdy Finance #20 Welcome to 2013

web search terms

What People Searched to Find Canadian Budget Binder on the Web

Search terms of the week are really a hoot! Here are a few of them for your viewing pleasure.  What are you saying about them? Any typos below are simply the person who searched who made the error or me ;-) Search terms make up a huge amount of my visitor traffic and it keeps increasing month to month so I hope that means I’m doing something right.

Top Pick: How much does it cost for groceries? If you are thinking what I’m thinking it’s someone’s first time in the real world. No mom and dad won’t be paying for groceries forever.

  • Being Frugal is the New In- Oh ya bring it on baby… I can see it now, the nerdy group, the jocks and now the frugals.
  • People Who Act Like they Have Money Are…..- You finish the sentence
  • I want a gift- Really, so do I.
  • If I ever feel you are cheating on me I will silently move out of your life- Well at least they aren’t sticking around, smart.
  • Bakery In Toronto Owned by the Binder Family- No my last name is not binder and I don’t own a bakery haha.
  • What happens in Ontario if you can’t pay your property taxes until the next calendar year- Two Words…. You’re Screwed! Maybe not! Check with your city as it was brought to my attention that some may qualify for a deferral program.
  • Horrible Credit, No Money Down Mortgages- Again… You’re Screwed! Why would anyone even think about buying a home.
  • How to Renovate a House- Please, Please, Please hire a professional that’s how!
  • Smoking is important- Ya, tell that to the people that have died, or are suffering from the effects of smoking and second-hand smoke.
It's Not About How Much Money You Make It's How You Spend It

Mr.CBB’s Quote

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The Saturday Weekend Review #8 December

Saturday Week In Review Mr.CBB

 

Mr.CBB’s  Saturday Weekend Review

It’s Saturday and that means working late and sleeping in for me. The best part of waking up this morning was that last night I made Walnut and White Cheddar Biscuits a recipe from my mate Aunt B and they turned out amazing. The goal was to use them with my homemade Pulled Pork that I put in the crockpot this morning. Yep, the house smells.. well. porky!  I couldn’t take it any longer so I had to test a biscuit when I woke up this afternoon so I fried a couple eggs with a huge slice of ham and this is what it looked like…..

Ham and Egg On a Walnut White Cheddar Biscuit

Ham and Egg On a Walnut White Cheddar Biscuit

So keep an eye out in the upcoming weeks for my homemade pulled pork recipe on the blog tucked in between the cushions of this lovely biscuit! Ok now that we have the food out-of-the-way this week I did alot of Christmas baking as you know….

Mr.CBB's Peanut Butter Balls

Mr.CBB’s Peanut Butter Balls

I also went down to the Ministry of Transportation to pick up a $15 temporary sticker for our winter vehicle. On the way there some donut decides to run a red light and do a right hand turn as I’m going 80 up a highway (brilliant) hand on horn and Mrs. CBB could practically touch the car if she opened her window. Didn’t have a minute to live I guess. No accident thank goodness but if there was someone in my left lane things would not have had a happy ending I can assure you. (Anyhow…. while at the Ministry) Upon asking if there was a cheaper way to do this  to eliminate the cost of the temp sticker as we had to get an E-test first then come back and get the actual sticker.  She tells us, of course. Did you know that your E-test lasts for one year? Nope, I had no idea. We didn’t have all of this in the UK so it’s all new to me.  Now I know that I can get the E-test done before I park my vehicles that way I won’t have to waste $15 on a Temporary sticker (money grab ) just to drive the bloody thing to the garage to get an E-test (money grab) and back to the Ministry to get a sticker.  Everyone wants money…. and it’s only bound to get worse.

 

Financial News Mr.CBB

What’s Been Happening at Canadian Budget Binder

I’ve noticed a nice little spike in traffic for CBB so I’m hoping it’s only up from here. It’s great to have so many fans and Personal Finance and Foodie Bloggers that support CBB because you are all the reason CBB is gaining support amongst the fans and our peers. If you’re not a fan of Canadian Budget Binder on Facebook please head over and give us a LIKE. My goal is 3000 by the end of 2012 so I could use all the support to get me there!! *WINK* Don’t be afraid to come chat on my wall like John at Frugal Rules, Glenn at Monster Piggy Bank and others. My fans like to mingle with other Bloggers and that my friends is how we network!

Did I tell you how excited I am about……..

I know I’ve mentioned it before but I thought I should mention it again to keep everyone in the loop.  Canadian Budget Binder will be going through a facelift… Botox and all.. plump this site up, get it ready for some action. I’m just as excited as the fans are so keep an eye out in the upcoming weeks for this! It will also be our 1 year anniversary at the end of January so I’m looking to gather some neat prizes for the fans. Nothing big as I’m just starting out but just something to say thanks! If you want to add your name to the give-away list, contact me today!!!

I’ve also been collaborating with one of the top sites that I like to check out for finance news and more…. but that’s all I’m going to say. I’m happy to be teaming up with such a friendly bunch of people.

That’s all for now folks… carry on down this post .. you haven’t even gotten to the good stuff…. those search terms! 

-Mr.CBB

Canadian Budget Binder’s Weekly Post Recap

Guest Posts I Wrote:

Top Blog

This is where I will share the top website that sent me the most traffic for the week! The Top Blog To Drive Traffic To Canadian Budget Binder for this week goes to…  Modest Money who is coincidentally holding an amazing contest you might want to check out!! It’s a Cash Giveaway! Good Luck and thanks Jeremy for sharing CBB with your fans!

Weekly Top 2 Honourable Mentions

Top 5 Blog Commenter’s- Imagine that the same as last week!! Gotta love it when the fans take a minute to comment on your hard work. I sure know it makes me feel good when others read my work and have something to say about that is meaningful!

Blogs That Shared Us With Their Fans This Week!

I know many of my fans read this post as they tell me they wait for it each week. To all of my fans please check out these personal finance Bloggers below and follow them. I read their Blogs everyday and I know that you will benefit from them as well.  Come back each week as I will name other Blogs that I think you should follow!

Thanks to all the Bloggers that link up and share my posts and this is why I do my best to share your posts with my Fans via social media, so thanks! -Mr.CBB

(If I miss You..please let me know as I didn’t get the Ping and I will include your post next week as this runs Sat to Sat so if you linked me on Sat it will show up next week)

Carnival Mention

web search terms

What People Searched to Find Canadian Budget Binder on the Web

Search terms of the week are really a hoot! Here are a few of them for your viewing pleasure.  What are you saying about them? Any typos below are simply the person who searched who made the error or me ;-)

Top Pick- Can you pee on a dollar store pregnancy test?- Well I’m sure spitting on it won’t work. Read the instructions that always helps.

  • Babies room with five senses- Better than having six I’d imagine… 
  • Mrs. Fresh Twinki-  As opposed to Mrs. Day-old Twinki haha always like my Mrs. to be fresh..
  • Costco Welfare Diet- I did say buying in bulk would save money for those on welfare as they build their pantry.
  • Sexy and Intelligent Guy- Well you’ve come to the right place…  ok, tootin my own horn, hey nothing wrong with a bit of confidence!
  • Mess with My Family Quote- oh oh lol.. someone’s up the crapper
  • I need my ex back- I need a lot of things to but my ex ain’t one of them.
  • Lawn Darts For Babies- Now there’s a genius idea.
  • Bathtub of hummus-  Ya that’s where I want to dip my nachos..
  • Looking for Mr.Santa- Well mate, hate to break it to you, you’ll be waiting a long time, how about you go grab a $7 Starbucks coffee…
  • Ideas to Decorate Pasta Salad- What, like with a bow? lol…

It's Not About How Much Money You Make It's How You Spend It

Are you NEW to Canadian Budget Binder?

If you are new to Canadian Budget Binder >>>Start here!

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The Saturday Weekend Review #7 December

Saturday Week In Review Mr.CBB

Mr.CBB’s  Saturday Weekend Review

I didn’t get myself into any trouble this week although I haven’t made my way in to the kitchen for my Christmas Baking Marathon yet. The fun will all start today when we start baking 1 of 4 easy Christmas cookie recipes and I will share them every Sunday on the Blog in December. I suppose since the snow has decided to make its way to Ontario it’s time to swap vehicles. This always takes a day or so for me to sort out with insurance, e-test and getting a new sticker. Money, Money, Money everyone wants money. Pain in the ass if you ask me but hey I’m just a newbie! Time to put away my love machine for another season and take out the winter tank destroyer. Do you store your vehicle for the winter and bring out a winter beater?

Financial News Mr.CBB

What’s Been Happening at Canadian Budget Binder

Well, what hasn’t been happening.

I’ve been guest posting all over the shop so if you start seeing posts I wrote for some awesome blogs go ahead and give them a read. It’s not often I write so many in one month but November took me by storm. Some posts you have yet to see but will be coming out shortly for some amazing blogs and websites.

I do enjoy writing for other blogs and chatting to their fans. It brings a whole new meaning to learning what other Bloggers do and how their fans interact with their site. Many of my fans enjoy heading out to other sites I mention or link up to and some even wait until I post my weekly blog post list so they can run through them.

On a great note we can now deposit up to $5500 a year in our TFSA starting Jan 2013 up from $5000 thanks to the new rule change earlier this week as noted by the Department of Finance. I’m thrilled in one sense as I know we will eventually have the money once this house is actually paid (more on that later). I have a bit of catching up to do with my TFSA but aim to get that up to speed as soon as I can. Since moving to Canada trying to make heads and tails of a new country and all it has to offer has overwhelmed me but since blogging and travelling around Ontario it has made life that much easier.

Canadian Budget Binder’s Weekly Post Recap

Guest Posts I Wrote:

Top Blog

This is where I will share the top website that sent me the most traffic for the week! The Top Blog To Drive Traffic To Canadian Budget Binder for this week goes to…… Save Big Live Better! Thanks Julia!!

Weekly Top 2 Honourable Mentions

Top 5 Blog Commenter’s

Blogs That Shared Us With Their Fans This Week!

Thanks to all of you that link up and share my posts with your fans like I do yours! -Mr.CBB

(If I miss You..please let me know and I will include your post next week as this runs Sat to Sat so if you linked me on Sat it will show up next week)

Carnival Mention

web search terms

What People Searched to Find Canadian Budget Binder on the Web

Search terms of the week are really a hoot! Here are a few of them for your viewing pleasure.  What are you saying about them? Any typos below are simply the person who searched who made the error or me ;-)

Top Pick-Yippie Noodles with Tomato Sauce -I’m still unsure if they were celebrating their happiness for getting noodles and sauce or if there truly is a “Yippie Noodle

  • Teaching Your Child How To Right Quotes- I need to go pee, this hurts!
  • Maternity Diapers- Shall I dare ask or will I get hit with a broom..
  • Black Diamond Cheese Casserole Recipe as Advertised On TV- oh good lord really, all my CASAROLL”eh” talk is coming back to haunt me.  But WAIT.. if you order today we will send  you 2 recipes for the price of 1!
  • I’m At Home- Good now you better lock your doors. Ha ha..funny part is the next search term was “scary
  • Sex and Saturday- Well I like sex any day of the week but maybe Saturday is the optimal day, how about you?
  • No food No Money, Large Family in Ontario- This one broke my heart, please always donate or help others when you can. Make a difference in someone’s life.
  • With Enough Coffee I Could Rule The World- Well then get on it….

It's Not About How Much Money You Make It's How You Spend It

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