I can’t believe it’s 2023, which means we’re starting another year of conquering debt on CBB.
Let me introduce myself and welcome you to the Canadian Budget Binder community.
Canadian Budget Binder (CBB) is one of Canada’s top Personal Finance Blogs, written exclusively by Mr. CBB.
My name is Mo, but Mr. CBB has been my name since I started this blog in 2012.
Estimated reading time: 11 minutes
I’ve been having lots of fun at CBB since my humble beginnings by understanding the importance of financial education for families worldwide.
I never thought anyone wanted to follow our debt story, but here we are in 2023, with thousands of readers every month.
In five years, we went from over $600,000 in debt to debt-free, including our mortgage.
Our story may seem impressive, but it came with lots of hard work, failures, and success.
I share everything we’ve been through and our strategies to pay off our debt.
On CBB, I will explain how we conquered debt and the roadblocks and bumps along the way.
Please Subscribe to Canadian Budget Binder without spending a dollar.
I don’t want your money, just your attention and experiences so you can become debt-free.
Subscribe To Canadian Budget Binder
The first thing to do is Subscribe to the Canadian Budget Binder because thousands of money-saving articles get you on your way.
Trust me; it will be worth the read, and not every blog post will resonate with your situation.
I hope you take something meaningful from every blog post I publish and apply it to areas of your life that you feel may help.
Challenging yourself with a plan and monthly budget is the key to getting on track with your finances.
Get rid of debt, and you’ll see what we’re doing on the other side of this computer screen.
No lottery wins or inheritance money, just elbow grease and frugal living and using a monthly budget.
At CBB, we’ve got you covered; best of all, I have an open-door policy.
Feel free to contact me using the contact form on the blog.
I can’t offer you financial advice, so I suggest talking with your bank, financial advisor, or someone in a position to give you legal advice.
I share experiences and what we did to eliminate the financial messes we’ve made.
Who is Mr.CBB?
Mr.CBB is a Geeky British guy who shares his financial journey and tips with the Canadian Budget Binder community.
He lives in the Greater Toronto Area with his wife and nine-year-old son.
Mr. CBB works full-time but doesn’t disclose his identity or employment due to the nature of his position.
Investing In Real Estate At A Young Age
I’m from the UK and a permanent resident in Canada, and I love my life here in Ontario.
I bought my first house at 21, then my second at 24, and I have been interested in personal finance ever since.
I’ve always been fascinated with learning how to make money and watching it grow while combating debts.
I didn’t want to suffocate in debt, so I tried to advance with my money.
At the time, Mrs. CBB had an OSAP and a car loan that put our savings on hold while paying them off.
Personal Experience With Welfare In The ’90s
There was also a point in my wife’s life when she received social assistance until she could find a job after graduation.
Now, she understands the need for such a program that helps many families in Canada.
Without welfare, she would have been on the streets, but she could secure not one but three jobs in a matter of months with that opportunity.
We also know what it’s like to start our lives as newlyweds while learning to live in a new country.
Our Journey To Debt Freedom On CBB
We saved our money from a young age and have part-time and full-time jobs leading into our College and University years.
However, we were fortunate to grow up in families who taught us the value of money and saving for what we wanted.
Our parents were far from wealthy and worked two jobs to make ends meet.
Mrs. CBB’s family took financial risks, which didn’t end well, but in the end, they amassed enough money for retirement.
My parents are pretty much retired and have enough money to allow them to spend their golden years travelling as they had imagined.
On CBB, I bring values from both sides of the financial coin: the good, the bad, and the ugly.
We needed to learn from our experiences rather than ask for help, but that didn’t stop me from needing a loan from my mum and dad when I was 29.
Teaching our autistic son about money and how to live a frugal, balanced life with fun is a part of who we are.
Searching For Our First Home Together
After marriage, we continued to save money for a down payment on our Canadian home.
We didn’t want to be house-poor getting the giant mortgage the bank said we could get.
Over time, we kept looking for the right house that didn’t break the budget.
The plan was to buy a house that had to be covered by only one income.
Luckily, we put 32% of our mortgage as a down payment, paid off two newer vehicles, and our education by leading a frugal yet sensible lifestyle.
I paid $47,000 Cash For A $90,000 Truck.
In 2018, I bought a demo $90,000 Dodge Ram truck, which I negotiated to $47,000 and paid in cash.
It was the best feeling to buy something new for almost 50% off the retail price (MSRP).
Although we both returned to school in our 30s, it has taken us time to build our careers and increase our salaries.
We continue to live frugally but aren’t as stressed about money.
Over the years, we’ve learned that there are times to save and other times to splurge.
We worked hard, even if that meant starting over while our friends already had kids and living in their dream homes with bolstering careers.
Our biggest kick-start to our debt pay-off journey was using a Budget!
With our budget success came the frugal living, personal finance story of the Canadian Budget Binder.
This Blog Is Not For People Who Don’t Want To Budget
You probably read the wrong blog type if you don’t think a budget is needed.
I’ll also tell you how much we spend and earn every month in our monthly budget and net worth update post.
Without a doubt, I can truthfully say that it is possible to pay off debt, save, and invest money to become debt-free in Canada.
Just remember that every situation is different.
Debt-Free Before 40
As of June 2014, we became mortgage and debt-free under 40 just five years after purchasing our home.
Miraculously, we got pregnant and are parents to a boy who kept us busy like any other baby.
Although we had the money in 2013 to pay off the mortgage, we were waiting for the exchange rate in the UK to work in our favour before moving our money over.
We caught that in the nick of time, thankfully not losing too much money.
Since achieving debt freedom, we’ve been investing aggressively in our retirement savings, renovating, and going on holidays to Spain, the UK, Iceland, and hopefully across Canada soon.
In my spare time, I enjoy
- reading finance blogs, books, and news articles
- road trips
- renovation projects
- cooking (you can find all my recipes in the free recipe index)
- hanging out with friends and family.
Life hasn’t been easy, but it hasn’t been as tricky as it could have been if we weren’t determined.
Balance is how we can get over the bumps in the road, especially when friends buy big houses and boats and enjoy the finer things in life.
Don’t get distracted by that.
I’m here to tell you how and what we did to get where we are, hoping to inspire others to change and share their voice like I am today.
Get FREE Money Saving Tools
As mentioned above, since 2012, I’ve been creating our family budget binder and other valuable resources that have helped us save money and stay organized on our journey.
I’ve always offered my work free of charge to all Canadian Budget Binder subscribers, and I hope you take advantage of it just as thousands of other readers have with great success.
Check out my Money Saving Tools Page to create your Canadian Budget Binder.
What is the Canadian Budget Binder About?
Canadian Budget Binder (CBB) is MORE than one boring finance blog that always talks about money.
CBB is a virtual binder with life topics surrounding personal finance and everything in between.
If it has to do with money, we talk about it at CBB, which means we talk about food, relationships, parenting, investing, mortgages, real estate, and how to make and fix stuff.
Anyone can use a budget and should get on track with their finances.
Often, that means being handy or continuing to educate yourself about the stuff that will cost you money.
For example, just because we are debt-free doesn’t mean we stop learning to save more money.
Finance is an ongoing process that will end when we’re gone and buried but what we leave behind is a legacy.
I hope our legacy will continue so our future family will not worry about money.
It’s easier said than done, so it’s always best to look after yourself and your family first.
Budgeting from A to Z on CBB
Every category in a budget represents a part of our lives, so we talk about each of these categories.
As CBB grows, we expand topics Canadians want to learn about and personal stories sent in from the readers.
Since 2012, I have hosted the popular Canadian Grocery Game Challenge, which has seen many fans lower their impressive grocery budget.
The challenge ended in 2019, but you can read over 300 Canadian grocery blog posts in my Ultimate Grocery Shopping Guide.
Now is your chance to take control of spending and balance your monthly budget. I’m here to help by sharing our journey to wealth and wisdom.
See how one couple, Jen and Ken, changed their lives using my budget, and so can you!
Anything is possible if you are motivated to get out of debt and on track financially.
If you still don’t think saving money and paying down debt is possible, another fan went from spending $1100 a month on groceries to $600 a month in 6 months.
Then CBB readers Tony, who paid off $100,000 of debt by spending less than he earned and paid off his debt, is miraculous.
CBB Is A Blog Where People Listen And Help
Don’t give up hope!
We are working together to build a safe place to share your questions with the readers.
That is what sets us apart from all the rest. We care, we listen, and we want to share your voice.
We don’t criticize; we learn from everyone’s life experiences.
That’s CBB, and we’re glad you decided to subscribe and hang out with us.
We’ve all made mistakes in our lives and continue to make them despite trying to make positive changes.
You can fail here, but we are here to help pick each other up so you can work towards reaching your goals.
Inside Canadian Budget Binder, You Will Find
Below is a highlight of what you will find when you open the Canadian Budget Binder and turn the pages;
My 10-Step Budgeting Series details how we designed our budget and how you can use a budget.
- Grocery Shopping
- Debt Reduction
- Free Downloads and Printables (Subscribe to CBB to get my custom free budget binder printables sent to your email inbox)
- Canadian Savings, Deals, Coupons, Freebies, Discounts
- How To Start A Blog
- Income Tax Canada
- Estate Planning Canada
- The Best Cash Back Deals, Freebies, and Coupon Codes
- Marriage and Divorce
- Landscape and Gardening
- Student Life
Free CBB Emergency Binder
Plus, if you subscribe to CBB, I’ll send you The CBB Emergency Binder FREE.
You will not want to miss this freebie as it’s essential.
If you are an existing subscriber, you can email me the secret code to receive your free Emergency Binder.
Who is Canadian Budget Binder for?
Canadian Budget Binder is for fans of all ages from all over the world who WANT to learn about Personal Finance and live a frugal life.
Personal finance is such a broad topic, so it’s nice to get the perspective of different age groups with varying experiences in life.
So, won’t you join me here and share your voice?
Let us learn from each other’s experiences to make money work for us and not against us.
Introduce Yourself to CBB Friends
Please don’t be shy; I’ve introduced the CBB family, so please introduce who you are.
Please tell us where you visited CBB in the comments below and what brought you here.
If you’d like to unsubscribe at any time, I’d hate to see you go, but feel free to click unsubscribe at the bottom of any blog post you receive.
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Clicking on these links and ordering products or services may result in compensation.
Affiliate links cost you nothing but help Canadian Budget Binder earn money to pay the bills.
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I’m always grateful when you choose to use my affiliate links,
We can continue running this blog thanks to companies and fans like you.
Please use the home page’s contact form to contact me anytime.