How To Make Your Money Work For You (Free Printable) : The Saturday Weekend Review #294

YOU CAN’T RUN A SUCCESSFUL BUSINESS WITHOUT BEING A BOSS.

If you haven’t had a steady relationship with your money perhaps now is the time to make up or break up.

Tackling debt and making your money work for you are two of the BIGGEST goals that people set for the new year.

However, they don’t often follow through on their goals because they lack the motivation to do so.

I don’t blame you, budgeting and paying bills are the most glorious task to do but it can be fruitful.

This is where a dose of motivation comes in handy which is why we always start the new year like new babies.

Manage Your Money Planning Goals

One of the best ways to manage your money is by creating a yearly planning guide.

It doesn’t have to be anything fancy but just something that details your financial plans for the year.

We print out our Yearly Goals Planning Guide and jot down 5 important financial goals.

These goals can vary as you’ll see below a few examples I’ve come up with.

1. Paying off debt using the snowball effect
2. Saving money to complete a home renovation
3. Working extra hours to save more money
4. Increasing the amount of time we spend budgeting
5. New ways to keep organized with our budget

Boss Your Money Around

If you want to make your money work for you then you have to work for it.

In essence, you’re the boss but you’re also the employee which means your money IS your Business.

If you don’t show up to work, create a plan and to execute it two things can happen;

1. Your money will fire you
2. The business will fail

And by fail I mean your debt to income ratio is so off-balance that you need to regroup and strategize before you lose it.

Fight For Your Money

Consumer debt in Canada is obvious as it’s a struggle for people to pay the bills and keep up with the trail they leave behind.

It’s far easier to charge something to a credit card when money is tight than it is to pay back the absent money.

You need to start the year with a mindset shift and by this, I mean to stop using your credit card as free money.

Unless you plan to 110% pay that credit card bill off in full each month, forget that you have it.

Consider your credit card one of the worst employees at your company.

However, if you are using your credit card to gain rewards points it could be one of the best employees working for you.

Again, this is about availability and money mindset as there are two different goals above.

1. Earn extra money using credit
2. Use the credit to lose money

How To Save Your Money

One of the first things you need to ask yourself is;

What should I do with my money?

Every business owner needs a budget and savings fund as should you.

Before you jump into the bosses’ seat you need to learn how to budget and then create one.

You’ll need to find a budget that is simple enough that you will use it.

Too often we look for fancy apps or excel budget spreadsheets that are too complicated.

The excel budget we created is clean, simple and hassle-free if you know how to use excel.

However, we also offer free a printable basic monthly budget where you use a pencil and paper.

1. Educate yourself about budgeting and emergency savings
   
2. Create a budget

Use Your Money To Pay Off Debt

From there you’ll want to understand more about your debts so you can pay them off.

You may even make some phone calls to see if the credit card or loan companies can lower your interest rate.

Remember the lower the interest rate the less amount of money your company is losing.

Pay Yourself First And Invest Your Money

If you have debt use your money to get rid of it but also pay yourself first along the way.

Paying yourself can be anything from investing money in a Registered Retirement Savings Plan to a Tax-Free Savings Plan.

The idea is that you’re putting your money to work so it can grow through investment strategies or simple interest such as in a savings account.

A New Year A New Slate

If you’re reading this and the new year is almost here then you’ve got the perfect opportunity ahead of you.

You’re starting with a clean slate in January so you can maximize every step of the way.

Perhaps you’re here mid-way through the year and want to start over or own your business like a boss.

That’s fine too as long as you realize that some of your goals may have a rush order.

By this I mean you’ve lost valuable savings time especially if you have projected expenses or debt paydown goals.

No matter what route you choose to take always remember that your company can’t survive without you.

Discussion: What ways do you plan to make your money work for you this year?

Drop me your comments below and I’ll be sure to respond. Don’t forget to share this post with your friends.

Mr.CBB

Blog Posts You May Have Missed

Below is a recap of the blog posts I’ve published over the past two weeks so you can catch up on your reading.

1. How To Track Your Projected Expenses For The Month (Free Printable) – November 2019 Net Worth Update
2. Canadian Budget Binder Review of Smarter Loans In Canada
3. Simple Keto Thumbprint Cookies
4. How To Get Your 2020 Home Budget Organized
5. The Best Canadian Cashcack Websites For Online Shopping
6. Stop Buying Christmas Debt In Exchange For Happiness

Frugal Recipe Of The Week

My last frugal recipe pick for 2019 is a gorgeous Gumpdrop Cake that I found over at My Island Bistro blog.

I just love the simplicity of this cake and how colorful the jujubes are.

Mr. CBB’s Motivational Corner

Home and Blog Update

Blog Update

One of the easiest ways to make money when you sleep is by having a blog.

This is called Passive Income.

I’m thankful that we have such a large following of readers on CBB who trust me to offer my truthful feedback.

This year has not been the best but the second-best year since I started this blog in 2012.

Financially, 2019 has been the most lucrative for the blog and I only hope to continue this trend in 2020.

I’m also hoping to see more subscribers joining CBB in 2020 with some upcoming changes to the blog.

The bigger our community grows the larger the impact it will have for everyone.

So, please share CBB with your friends and family and always give us a thumbs up or a like on social media.

We appreciate every one of you.

In the new year, I’m going to start a new section for the Saturday Weekend Review where I showcase an online budgeting tool.

I aim to offer suggestions to those of you who may not be interested in using an excel budget like the one we use.

I’ll also search out other free financial tools that will benefit my readers so keep an eye out for that.

If you know of any send me an email with a link to the information and I’ll have a look at it.

I’m not 100% sure but I may have one last post on Tuesday to share our Keto Christmas Dinner and Desserts.

Do you want to be part of the second annual CBB Monthly Budget Challenge? See the photo for details.

Comment if interested below and I will message you back.

After what I consider a successful 2019 Budget Challenge with 4/20 participants finishing I hope to motivate more of you to come on board.

Budgeting takes commitment.

Are you ready for this?

Feel free to PM me or drop a comment below if you have any questions.

I’ll be closing the sign-up on Dec 31, 2019, as the challenge begins Jan 1.

Home Update

It has been nutty around here the last two weeks with both of us getting the flu.

I’m still not over the coughing part as my voice is a disaster and I’m struggling to talk at times.

For the last day of school, we were up at 4 am to make chocolate-covered Oreo reindeer on a stick for our son’s class.

While we were at it we also took our mixed bag of cookies out of the freezer.

These are just extra cookies or cookies that didn’t get eaten from our son’s lunch.

I processed them in the food processor into a coarse crumb and made white and milk chocolate-covered truffles.

I’ll be working on 2 or 3  more Christmas recipes today for the holidays and then I’m done.

I’ve almost finished wrapping the last of the Christmas gifts although we are waiting for 2 more from Amazon.

A busy week ahead for all.

I wish you all a very MERRY CHRISTMAS from our family to yours.

See you back in 2020!

Mr. and Mrs. CBB

Saturday Search Term Giggles

Every week I get tens of thousands of people who visit Canadian Budget Binder because they searched online and found my blog.

Yes, I can see your search terms and sometimes they are funny.

• Make Your Own Currency– Haha, that’s a great way to land yourself in jail for LIFE.
• Easy Cinnamon Butts– I’m still laughing from the currency search term above, lol.
• Keto Butter Tart Recipe With Gooey– Who’s Gooey? LOL
• Ottawa Fathead Dough– Nope, this is Toronto, not Ottawa.

If you see the acronym (SIC) next to a word that means I’ve copied the text exactly as it was typed in Google and it has spelling errors

That’s all for this week my friends, see you again in 2 weeks for the next Saturday Weekend Review!

Mr.CBB

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