I can’t believe it’s 2021, 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 me, Mr. CBB.
My name is MO, but Mr. CBB has been my name since I started this blog in 2012.
I’ve been having lots of fun at CBB since my humble beginnings by understanding the importance of financial education for families all over the world.
I honestly never thought anyone wanted to follow our debt story, but here we are in 2021, and thousands of readers worldwide visit every day.
Day after day, I read comments by CBB followers on the blog and social media. I take the good with the bad and respond to them as much as possible.
We went from over $600,000 in debt to debt-free, including our mortgage in just five years.
Our story may seem impressive, but it came with lots of hard work, failures, and success.
I will be sharing everything we’ve been through and our strategies to pay off our debt.
Throughout CBB, I will explain precisely how we conquered debt and offer you the same finance tools we use for FREE.
All you have to do is subscribe to the Canadian Budget Binder, and it’s all yours without having to spend a dollar.
I don’t want your money. That’s right, and I don’t want your money, just your attention so you too can become debt-free.
Subscribe To CBB
The first thing to do is Subscribe to the Canadian Budget Binder because there are thousands of money-saving articles to get you on your way.
Trust me, it will be worth the read and although 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.
The key to getting on track with your finances is chaPllenging yourself with a plan and monthly budget.
Get rid of debt, and you’ll see what we’re doing on the other side of this computer screen.
No lottery wins, no inheritance money, elbow grease and frugal living using a budget.
At CBB, we’ve got you covered, and best of all, I have an open-door policy. Feel free to contact me using the contact form on the blog.
What I can’t do is offer you financial advice, which is why I suggest talking with your bank, financial advisor, or someone in the position to give you legal advice.
I share experiences and what we did to get out of the financial messes we’ve made.
Who is Mr.CBB?
I’m Mr.CBB, a Geeky British guy who shares his inspirations with the Canadian Budget Binder community.
Mr. CBB is a real person who lives in the Greater Toronto Area with his wife and seven-year-old son.
I work full-time but don’t disclose my employment due to the nature of my position.
Since I post our actual budget and Net Worth, I choose to stay anonymous.
Investing In Real Estate At A Young Age
As mentioned above, 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 the age of 21, then my second at the age of 24 and have continuously been interested in personal finance ever since.
I’ve always been fascinated with learning how to make money and watching it grow while combating any debts along the way.
I didn’t want to suffocate in debt, so I tried to step ahead with my money.
Yes, we have had debt. Yes, my wife had an OSAP and a car loan that put our savings on hold while paying them off.
Personal Experience With Welfare In The 90’s
There was also a point in my wife’s life where she received welfare up until she could find a job after graduation.
Now she understands the need for the government social assistance system that helps so many families in Canada.
Without welfare, she would have been on the streets, but with that opportunity, she could secure not 1 but 3 jobs in a matter of months.
We also know what it’s like to start our lives as newlyweds while learning to live a new life 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, 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.
We bring to CBB values from both sides of the financial coin, the good, the bad, and the ugly.
It was essential for us 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.
We both feel teaching children about money at a young age is critical to their future.
Searching For Our First Home Together
After we were married, we continued to save so we would have enough money to pay for a decent down-payment on our Canadian home.
We didn’t want to be house-poor getting the giant mortgage that the bank said we could get.
Over time we continued looking for the right house to call our first home and one that didn’t break the budget—the plan we had meant that the house we bought had to be covered by one income only.
Luckily, we were able to put 32% of our mortgage as a down payment, pay off two newer vehicles, and our education by leading a frugal yet sensible lifestyle.
Paid $47,000 Cash For A $90,000 Truck
Back in 2018, I was able to buy a demo $90,000 Dodge Ram truck, which I negotiated to $47,000 and paid in cash.
It was the best feeling ever to buy something newish for almost 50% off the retail price (MSRP).
Although we both went back to school in our 30’s, it has taken us time to build our careers and increase our salaries.
We continue to live a frugal lifestyle; however, we 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
If you don’t think that a budget is proper for you, you probably are reading the wrong type of blog.
I’ll also tell you how much we spent and how much we earned 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 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 so far 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 also hasn’t been as tricky as it could have been if we weren’t determined.
Balance is how we could get over the bumps in the road, especially when friends were buying big houses, boats and enjoying 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 in hopes of inspiring others to make a 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 an array of other valuable resources that have helped us continue to 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 our Money Saving Tools Page to create your Canadian Budget Binder.
What is Canadian Budget Binder About?
Canadian Budget Binder (CBB) is MORE than one of those boring finance blogs that talk money all the time.
CBB is a virtual binder filled 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 too.
Anyone can use a budget and should if they want to 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 I stop learning how 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.
A legacy that we hope will continue so our future family will not have to worry about money.
Easier said than done, which is why 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 continues to grow, 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. We’re here to help by sharing our journey to wealth and wisdom.
Check out how one couple Jen and Ken, changed their life by using my budget, and so can you!
If you are motivated to get out of debt and get on track financially, anything is possible.
If you still don’t think it’s possible to save money and pay down debt, 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 place that is safe 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 try to LEARN from everyone’s life experiences.
That’s CBB, and we’re glad that you decided to subscribe and hang out with us.
We’ve all made mistakes in our lives and continue to make them even though we try 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 Canadian Budget Binder and turn the pages;
My 10 Step Budgeting Series details how we designed our budget and how you too can use a budget.
- Free Money Saving Tools
- The Ultimate Grocery Shopping Guide
- Coupon Codes, Coupons, Discounts, and more
- Fan Success and Inspirational Stories
- Canadian Real Estate and Mortgages
- Importance of Saving and Budgeting
- Debt Reduction
- Gardening, DIY, Home Maintenance
- Frugal Tips, Handy Tips
- Retirement and Investing
- Canadian Couponing 101
- Food and Frugal Recipes including Keto and Low-Carb
- Relationships, Divorce, Newlyweds, Weddings, Parenting
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 who have different life experiences.
So, please, won’t you join me here and share your voice!
Let us learn from each other’s experiences so we can all make money work for us and not against us.
Introduce Yourself CBB Friends
Please don’t be shy; I’ve introduced the CBB family, so go ahead and introduce who you are.
Please tell us where you are visiting CBB from in the comments below and what brought you here.
Oh, and before you go, please subscribe to the blog to get my new posts via email, and if you have any questions, please send me a message via the contact page.
Please note: Affiliate links may be present in my posts.
By clicking on these links and ordering products or services may result in compensation for me.
Affiliate links cost you nothing but help Canadian Budget Binder earn money to pay for the bills.
Be assured that I only partner with brands that I trust.
I’m always grateful when you choose to use my affiliate links,
Thanks to these companies and fans like you, we can continue running this blog.
At any time, if you’d like to unsubscribe, we’d hate to see you go but feel free to click unsubscribe at the bottom of our blog posts that you get via email and poof, we will be gone from your inbox for good.
Currently, I post three times a week with a bi-weekly newsletter and one recipe.
If you’ve read this far, please introduce yourself in the comment section below.