If I was talking about relationships I’m pretty sure I’d have many fans telling me I was dead wrong. It’s true though, when it’s too good to be true, get it while you can, If you can.
Remember when gas prices were eating into your budget? I do and it still does but not to the extent it once did.
I recall chatting with my wife when we were house-hunting and why we should look in a neighbourhood that was close to our jobs. It took upwards of 30 minutes just to get across town more during busy hours which not only meant time constraints but more gas.
Gas prices in Ontario have come out to play in recent weeks and tumbled to a very pretty low (er) rate for those who are tired of filling up and cringing at pump prices.
I almost can’t stop checking my Gas Buddy app because I’m not sure if I believe the way the prices have come down. One of my wife’s friends posted on Facebook today how prices were jumping up close to 0.10 a litre where he lived but who cares because it’s still not back over $1.00 a litre.
This is the mentality many have become accustomed to. Smart marketing at it’s best. When we get used to high prices and they drop we feel we are getting a great price when that high price may have been so overinflated in the first place that we are falling right into that revolving trap of pricing wars.
Ontario Gas Prices
These days I’m almost considering a Costco membership just to reap the rewards of some of the cheapest gas in Ontario and maybe a bargain or two in-store.
I remember when I was first travelling back and forth to Canada, the price of gas or petrol (as the British call it) always amazed me at how cheap the gas prices were here. If I recall correctly prices were hovering around the $0.79 a litre or so.
Back in the UK it’s more expensive than it’s ever been in Canada even at $1.40+ a litre which we saw back in 2014 in most parts of Ontario. This is just one reason besides having nowhere to park as to why most Brits drive small cars. At least that was my reason because I couldn’t be bothered to pay such crazy prices just to get from point A to point B.
When I bought my first vehicle I decided since the gas was so cheap in Ontario and I had the cash that I would buy myself a truck. The truck is much more spacious than the box on wheels I drove back home.
I love my truck and although I don’t drive it often because of the baby I’m thinking about investing in a bigger truck with a double cab so our son can come along for the ride.
I’ve always been the type of person who thinks ahead and runs the “What if’s” through my mind so I at least try to cover all of my bases when it comes to spending money. I’m not always successful but at least I try.
I was reading the other day an article on Yahoo about the gas prices in Ontario and how they are so low and that potentially dealerships/sales lots would see an increase in sales. Believe it or not I’m betting they will. People get so caught up in the moment when that tunnel vision sets in.
I bet vehicle sales associates are loving the low gas prices as it’s an easy way to market the vehicles and of course motivate the customer to buy.
Here’s a tip… only you know how much you can really afford and please don’t think prices will stay low forever. Filling up a tank of gas was costing me anywhere from $85-$95 when gas prices were well over $1.00 a litre. For some people that’s many hours of work and only lasts them a few days of travelling at most.
Another prime example of getting in over our heads is with low interest rates and house prices. There’s always a difference between what someone can afford or think they can afford. Some people only see what they want to and for many that is low-interest rates.
They end up maxing out at the top of the range of what the banks says they can afford (don’t get me started on this) and what their budget allows (if they budget at all). It’s only when times get tough some may realize the mistake they made. It only takes job loss, health issues etc. or a simple rate hike and walls can come crashing down if there is no cash to back it all up.
Buying a new vehicle
I won’t lie and say I wouldn’t like a new vehicle (new to me means used) but as you all know you can go from gas station to gas station and find prices differ all over the place. Right now in Ontario if you are a member of Costco you can get your gas for a whopping 81.9 cent/litre in Toronto.
Toronto gas prices have gone up over the last day or so but are holding steady between 81.9 and 89.9 cents according to the website Ontario Gas Prices online. Most of the gas stations near me are in and around the 89.9 cents mark of course but cheaper stations are en route to where I work.
I don’t know where they all buy their gas from but I’m betting they all know the same people. It makes me laugh at how the prices change so fast and are different from one gas station to the next but business is business I guess and gas is lucrative because most people rely on it.
Paying premium prices
When we rely or “need” something don’t you notice how prices tend to skyrocket. If you get married it’s costly, if you have a baby its costly. Anything to do with needing something and the prices become ridiculous. Have you ever seen the prices to park your car in Toronto?
Not everyone needs to drive or needs to spend money on a wedding or new baby stuff but the industry is so centered around a certain buyer that they can afford to jack the prices up. They know that the market is there and that they will continue to shop no matter what the cost.
Whether it’s the vehicle owner, the bride, the mother-to-be, the homeowner, the renter etc. be prepared for prices to go up and come down but don’t get caught in the game because you might end up burning yourself financially.
Here are a couple of other examples I can think of.
Some people rely on cigarettes and boy do we know from experience that you are at the mercy of the seller because prices were never in your favour. Addiction costs $. Likely why so many flock to the reserve to buy cheap smokes but in the end no one is ever ahead. It’s like a cat and mouse race in and out in hopes the police don’t see you, as if they don’t know.
Other things we rely on might be alcohol and the LCBO knows it because there’s always been a line-up when I’ve gone in. Just look at New Year’s. If you waited in line you know what I’m talking about. You may get few in-store sales kicking around but for the most part once you rely on booze or need to have it in your home or business for whatever reason you WILL pay the price.
If people think that running out and buying the biggest, baddest gas guzzling vehicle they can get because gas is cheap is the smart way to go, well they have to live with that decision. For now, I’m hanging tight, saving my money and am going to base my decisions on research and not just the price of gas.
Have you ever paid the high price for something because you needed it and the seller knew you did so your options were limited?
Around our house and the blog
I worked, I worked, I worked and I worked. That was my week, how was yours? I know it’s crazy around here for the moment but life goes on. I know that the only way to get to our destination in life is when we put in some effort along the way.
Other than that we took our son to a baby centre in our community where he can play and hang out with other babies his age. He loved it. He was making these screaming noises we have never heard before and I think he was very happy to see he wasn’t the only little one on this place we call earth.
We are hoping to visit the local pool and library in the next couple of weeks to see what programs they have to offer. I’d like to start swimming lessons with him if I could because I love swimming and I know he will too since he makes quite the splash at bath time.
We finished up our year-end reports for our 2014 finance which you can read all about in the links below if you haven’t already. We are also looking forward to 2015 and what it has to offer us and we have a few ideas up our sleeves.
The blog has been SUPER busy since the new year came around. It’s great to see so many people who want to start the year off with a budget. This is normally the time of year the budget gets downloaded a zillion times (ok, I’m exaggerating) but I get lots of email from fans which is great. I love fan emails.
Well, that’s my week. How was yours?
Weekly Blog Posts
Just in case you’ve missed any of my blog posts this week I will link to them all below. If you have a question that you would like to ask Mr.CBB fill out the contact Mr.CBB form on the Home Page and send in your questions. Mr.CBB will look in his mailbag weekly and pick a question to answer on the blog.
- If you don’t already know The Frugalwoods guest post 15 Frugal city-living tips to save your budget was picked up by Rob Carrick and The Globe and Mail online this week. Thanks Rob for featuring another CBB post.
- Head over to Liquid Independence where you can read what my a couple of my goals are for 2015 plus what many other personal finance bloggers shared about their year ahead.
On the blog….
- CBB Year-End Financial Report: Our December 2014 Net worth Update +1.29%
- How having a stockpile budge will save you money
- I added a new Blog Page called Monthly Budgets
- Our 2014 Year in Review- Dec 2014 Budget Update
- Cinnamon Meringue Petit Fours
Popular Blog Posts This Week
I thought it would be fun to share the Top 5 pages and posts each week for those of you that are new reading Canadian Budget Binder. These are in no particular order but were among the most viewed apart from the posts of the week.
- Scanning Code of Practice in Canada: Did you know?
- How much should my grocery budget be?
- Free Money-Saving Tools (Free Downloads)
- What you need to do in order to be rich
- 15 Frugal city-living tips to save your budget
Fan deals and inspirations
Submit your Brag or Inspiration
Saving money while grocery shopping is essential in the CBB family and that’s why we share our grocery shops every week in The Grocery Game Challenge 2015. What I love the most is when my fans share their amazing shops with me whether it be groceries or other deals they find at a garage sale, online or that they find for free!!!
If you have a brag that you want me to share email me at canadianbudgetbinder (@) [yahoo] [.ca] or fill out my contact form by Friday each week to have your brag considered for the Saturday post.
This week Nicola shares her seasonal sales that she picked up after the holidays for next Christmas. This is the time to buy if you want to $ave~
- 6pk crackers original price $18 bought for $1.74
- 40pk cards original price $5 bought for 24c
- 30pk cards original price $6 bought for 24c
- 16pk Disney cards original price $4 bought for 24c
- 5pk nutcracker tree ornaments original price $9 bought for 84c
- x3 packets gift tags original price $2 bought for 10c
Making A Difference
Note: If you are a personal finance blogger (anywhere around the world) and would like your blog to be MAD featured simply drop me an email and I’ll explain the process to you.
This is my way of giving back to the personal finance community through networking and sharing knowledge with my fans. Today I’d like to welcome Sarge from The Wealth Sgt to Canadian Budget Binder.
Hey there, it’s me Sarge from The Wealth Sgt.
I started my site shortly after witnessing first hand a “financial advisor” from a major bank try to swindle my wife with a fee laden, front-end loaded mutual fund for her employer sponsored IRA.
Now I don’t have anything against financial advisors per se, but these days it seems like there isn’t a lot of love lost in the advisor / client relationship and that they are really just preying on those who don’t have a financial education.
My fears were confirmed when a very good friend of mine showed me the list of investments her “financial advisor” recommended. When I had her write a reply to the advisor asking why he recommended that she should buy into a fund with a 12B-1 fee (essentially a kickback to the advisor for marketing the fund to her), he actually said that it was important to compensate your advisor with those fees. That was it, I had seen enough.
Following those two events I realized that the financial advisory industry was rife with crooks that had no interest in actually educating their clients and making them feel secure.
We are talking about somebodies entire retirement savings here; their whole financial future. Instead, these clowns were taking advantage of their position of knowledge and authority, ensuring that they receive more than their fair share.
Anyone with a bit of insight into investing knows that fees like the ones listed above are the biggest leeches on compound growth. Yet here were financial professionals advising their clients to take on far more fees than would ever be necessary to achieve a substantial return.
What came out of these experiences was a desire to help inform people about general personal finance. My site features resources that will absolutely make a difference in your financial future. The focus is really on education. I myself have two finance degrees, which have already proven incredibly useful in my own retirement investing.
In truth, there are thousands of personal finance sites out there about cutting expenses. The Wealth Sgt is about more than that; at its core it is about educating yourself in order to make sure you have a better and more secure future.
By committing to learn even the basics of personal finance you can shave years off of your working life and retire both earlier and more comfortably.
In our society personal finance isn’t something that is commonly taught in school. As a result, the onus unfortunately lands on each and every one of us to learn for ourselves. In the end NOBODY will care more about your future than you and you are they only person guaranteed to have your best interests at heart.
I sincerely hope you visit and enjoy the site as it is still in its relatively early days. Now if you are ready to take a step forward in your financial education, check out the site and let’s get cracking!
If you don’t already know I have a second Facebook page called The Free Recipe Depot where I share recipes from other Food Bloggers from around the world.
This weeks Top Recipe goes to Baking in a Tornado with their Key Lime Sponge Cake. I knew the moment I noticed how many time it was shared that it was a winner. What I would have liked to have seen is what the cake looked like on the inside. I hope you enjoy this weeks recipe.
Every week I will pick a blog post of the week from around the web that I found interesting and want to share with you and an Editor’s top blog post pick.
Editor’s blog post pick of the week goes to The Surprise Millionaires who shared an amazing post “Anyone can Accumulate Wealth” detailing a story about a woman Oseola McCarty born in 1908 who saved her money and in the end accumulated a wealth she never dreamed of.
This is probably one of the best blog posts I’ve read in a LONG time. A compelling story that you WILL want to read. It just reiterates my quote “It’s not about how much money you make, it’s how you save it”- Mr.CBB
Google search terms
Every week I get thousands of people visit Canadian Budget Binder because they did a search online and found my blog. Keep in mind any spelling errors below are because I share with you the exact way they typed their search engine query to land on my blog.
- Welfare Dinner– It amazes me how many people search this every week on CBB and why people equate how they earn an income to the dinners put on the table. Just because you are on welfare doesn’t make it a welfare dinner it’s called, dinner.
- Canadian Budget Binder Printable– Awe, thanks. It’s been amazing to see more and more people search for Canadian Budget Binder on the web.
- Do people abuse the scanning code of practice in Ontario?– You bet and it’s up to the store to make sure they fix the price as soon as they are made aware or those customers will continue to abuse it.
Thanks for reading The Saturday Weekend Review and Welcome to 2015 on Canadian Budget Binder!!
- The Saturday Weekend Review #100: Postage stamps can hit the budget hard at Christmas
- The Saturday Weekend Review #101: Does your neighbours home improvement really affect your property value?
- The Saturday Weekend Review #102: We almost made this huge online banking error
- The Saturday Weekend Review #103: Why you’re missing deals at the department store
- The Saturday Weekend Review #104: What you need to do in order to become rich