Estimated reading time: 12 minutes
Escape the cycle of money problems. Learn how to create a solid financial plan and take control of your financial situation.
Everyone Has Or Will Have Money Problems
Are you someone who constantly thinks about money problems?
Do you have a friend who can’t stop talking about their money problems?
I’ve been in both situations throughout my life, and I’ll tell you from experience that it’s not a fun place.
Everyone has had money problems at one point or another, unless they were born with a silver spoon in their mouth.
Many of the rich and famous grew up in families with money problems yet went on to become multi-million dollar actors, actresses, and musicians.
15 Rich Celebs Who Grew Up Poor
- Leighton Meester
- Jewel
- Hilary Swank
- Sarah Jessica Parker
- Jim Carrey
- Demi Moore
- Eminem
- Leonardo DiCaprio
- Tom Cruise
- Stephen King
- Mariah Carey
- Jay-Z
- Sean Combs
- Celine Dione
- Oprah Winfrey Estimated Net Worth 2.9 Billion
Success Does Not Happen Over Night
Money problems can happen to anyone, but constantly worrying about what you must fix instead of living your dreams will harm your financial future.
When they get down in the dumps about their money problems, most people want to do nothing and look for support from anyone who will listen.
Some people are super private about their money problems.
Still, today, we have the technology, so it’s easy to let the world know or have a close circle of friends and family directly or indirectly via status updates and posted memes.
Having someone to listen to you about your money problems is a great way to vent and let some of the stress out, but you have to move beyond that at some point.
Forget about the money problems in a roundabout way by putting your energy into doing something you love, and the money will come.
Success does NOT happen overnight unless you win the lottery, but even then, it’s an overwhelming task of stepping out into the public and dealing with money problems that may or may not have been present.
It’s all a show, and you get to be the director of your movie.
Understanding Money Obsession
In university, I had money problems just like almost every other student, and I still do today. We needed money, and I needed money.
The only way to get it was to work and study simultaneously.
For a while, money became my obsession because I wanted to be debt-free, own a home, and be successful.
I never put a price tag on my success, but I spent an awful amount of time worrying about whether money problems would follow me forever.
It doesn’t have to be that way.
Related: How we paid off our mortgage in 5 years
Stop Complaining About Your Money Problems
In my teens a friend of mine who lived with his mum in council housing and didn’t have many friends obsessed about their money problems All. The. Time.
Whether down at the sea surfing, hanging out at the mall, or even at the library to study, all we ever talked about was his money problems.
On many occasions, I remember offering him cash so he could get some food or pay a bill, even if it left me short.
I worked for my parents at their business and in a kitchen as a dishwasher to watch my dream unfold.
All I wanted to tell him was to stop complaining about your money problems and do something about it.
My manager at the restaurant offered him a part-time job, but he declined because it wasn’t enough money. Fair enough, but that’s where his choo-choo train ended.
His obsession became so bad that when depressed, he didn’t want to do anything. This wasn’t helping him.
When I was about to leave the UK to move to Canada, we touched base with each other, and he said good luck to me.
I said no, I won’t need luck because I’m not going to let anything get in my way.
Before I left, I shook his hand and thanked him for inspiring me to look beyond my money problems.
Indeed, he had no idea what I was talking about, but what I knew was that I never wanted to be like him.
Be The Person That Makes You Happy
I wanted to be like me and be successful because I gave it my all, whether I made minimum wage or was jobless living in Canada.
I learned early on that you don’t need lots of money to live a no-frills life.
Wishing, hoping, and believing in luck is nice, but it rarely happens.
- Have you ever won the lottery?
- Have you gotten everything your heart desires?
Probably not as usual as you’d like, but if you stop putting so much weight on what might be and get out there and make it happen, you’ll see a significant increase in your motivation, networking, and communication skills.
You’ll meet people who are just like you and who want to collaborate and build networks.
No matter what you choose to do with your life, don’t let your money problems dictate the person you are inside and the outcome before it happens.
Turn your money problems into a yellow brick road.
If any actors and musicians gave up the minute they had money problems or someone told them they weren’t good at their art, we wouldn’t have them here today to entertain us.
Many people rise from the pit to the top of the mountain by determination.
Failure is NOT an option.
Don’t let anyone tell you you can’t do something if it’s your dream.
I was fortunate to fall in love with a Canadian and move to this beautiful country, leaving being in the UK.
Behind a Decent job, friends, family, and a home that wasn’t far off being paid and was under 30.
I knew that potential money problems would arise from moving to Canada if I could not make something of myself.
There was a time when I was broke because I didn’t have all my money in Canada and was living on my wife’s income.
I wouldn’t accept having a minimum-wage job and returning to school because I was a dreamer who wanted to be successful.
Sure, I had money from selling my house, but that wouldn’t last us forever.
Yes, I worked for just above minimum wage during my time in school because I had to but didn’t want to. I wanted more.
Everyone has money problems whether they have money or not.
It may not be now, but it will come if we don’t have a proper financial mindset.
You don’t have to be a millionaire to be happy.
All you need to do is be satisfied with what you are doing in life because you only get one shot at it.
Believe In Your Tomorrow
Money problems will either stop you dead in your tracks or help you ride the train.
Yesterday, while driving home from the shop, Mrs. CBB asked me if I ever believed I’d have the career I have now 11 years ago.
The answer was no B, but I knew I would give it my all and see where it took me.
I went through many interviews and was not chosen for the role I am currently in.
Although I was a bit upset about not making it, I never let that get me down.
Today, I’m proud to say I’ve achieved my goals as a Brit living in Canada.
If you dream big, make sure at some point you stop and make it happen.
Dreaming is pleasant, but living it is even better.
Let your money problems become your happiness as long as you’re happy with your place.
I was an adult student who was 30 years old going back to learn something new and also one of the oldest in my classes.
Don’t let numbers stop you from your success, even your age.
Discussion: Have you ever let your money problems take over every second of your day?
Share your comments below, and I’ll respond to them.
Our Net Worth November 2017
Where all the money went:
Out the window! We had a busy month with many renovation projects for our home and the in-law’s home we paid for. It was not something we questioned either; we just did it.
There will always be more money to be made.
Not every month will be a good month financially, and you may not reach your goals, and that’s fine.
The rest will come if you don’t give up on where you want to be and love what you do.
On a good note, we had a visit from our realtor, who said homes in our area are selling for well over $600,000.
If we did want to downsize or move to a cheaper town, we might make a bit of money.
However, if we stay, it’s a number on a chart, and we’re OK with that since it can be sold for liquidity.
Why Set Financial Goals
Below is our progression chart toward our goal of a million dollars in net worth, which should happen according to our net worth calculations by mid-August 2017 (this year).
Note: Since we went on holiday and spent money buying a new truck, this goal has changed and will likely take us into 2018. I will have a more accurate update shortly.
Setting goals is the only way we work towards achieving what we want to be done as a couple around the house and in our financial lives.
Without them, we would be flying by the seat of our pants, which wouldn’t work for us.
I find it’s much easier to be held accountable when I share what we need to do with all of you.
My wife refers to the list when she asks what I plan to do next. I’m not sure if that’s a good thing for me or not.
In the graphical representation above, I have used Excel to provide a trend line prediction based on the past year’s monthly net worth figures.
Using figures from our actual net worth gains over the past 12 months (the solid blue line), it has suggested that by the end of (2016) we should have been around $900,000.00.
We fell short of this goal by $9000, which is perfectly fine as it was only an estimated goal based on current financial trends.
This can change over the years and is only a prediction based on known historical figures from our finances.
According to the chart, we should hit the million mark from August to September 2017. (didn’t happen)
This is nice to know, but anything can happen over the next year.
Hopefully, we can achieve this goal and go beyond with careful planning.
Our Financial Numbers Explained
When budgeting, anything is possible; we are proof of that, although we still have a long way to go in our journey.
These are our numbers and goals, not a means of comparing your goals to others’ target goals.
We don’t care how much money others make if they have a high net worth or are lower than ours, as it’s not a competition.
I hope our experiences perhaps will help guide you along your financial path working towards debt freedom.
Different Financial Paths
Not everyone has the same path in life.
Some of you may have had to start over like I did or go to school again and now have OSAP loans to pay back.
Others may have faced divorce, lost money in the stock market, job loss, illness, or injury.
However, you can’t let that stop you from achieving your financial goals.
Some people may have been given trust funds, paid-for homes, paid educations, or perks in life that give you a financial kick-start, and that’s OKK, too.
Remember what I said, “It’s not about how much money you make, it’s how you savOKOK”.
Focus on yourself, and don’t let the evil eye of money jealousy or keeping up with the Kardashians cloud your vision.
No one cares about your money as much as you do, so don’t waste your energy trying.
People accumulate wealth only because they know how to save or invest it wisely, even if they inherit money or win the lottery.
The most minor improvements should mean significant strides in reaching your goals.
Sometimes, we have to fail to learn, and we’ve all been there.
Money can be an evil force for some people, especially those with a negative attitude towards their financial situation.
I urge you to be optimistic and, little by little, with determination, too, should see improvements if you want that to happen.
Net Worth Updates 2017
Below, you can click the links to read earlier months’ net worth updates for 2017 to see how we made out following our financial rules.
- January 2017
- February 2017
- March 2017
- April 2017
- May 2017: Not available due to holidays.
- June, July, August – See this post above
- September 2017- No post
- October 2017
That’s all for this month’s net worth update, but please check in at the beginning of December 2017 to see how we made out in November 2017 with our financial portfolio.
~Mr.CBB
Remember: “It’s Not About How Much Money You Make. It’s How You Save It. “
Check out our 2012-Present Monthly Budget Updates