Buy the least expensive house in the most expensive neighbourhood

BE PICKY WHEN HOUSE SHOPPING   Typically we like to buy quality when we shop which included shopping for our home. This is why we scoured every available neighbourhood around our city for the best deal. The only thing we don’t like is paying full-price which meant we had our work cut out for us. Thankfully, it worked out in our favour. When buying a house you want to make sure that if you are buying a $400,000 house that the neighbourhood matches the price tag or you might struggle to sell as fast as you’d like down the road. This is why we hear over and over not to over-renovate but then again a smaller house in a bigger neighbourhood might have more luck finding a buyer than a house that costs far more than smaller surrounding homes. Today I have an email from a guy who is a first-time home-buyer with his wife and wants to know if they should spend the money and get the biggest house they can or a smaller house but in a more expensive area. Note: If you have a question for me please send me a detailed email similar to below so […]

Parents downsize to $400,000 small house and kids are embarrassed

LIFESTYLE CHANGE IS NOT EASY   Downsizing to a small home can be a struggle from finding the right home to selling what you no longer need.  You might also find there is opposition from others that live in the house about moving to a not as “posh” area as we will learn today from one couple. Downsizing is an interchangeable word where it can be to sell a large home to buy a smaller one or simply to get rid of something or stuff that you no longer need. My parents did just that but it was after I moved to Canada. They were living in a 3 bedroom home in the UK and once my parents were near retirement they decided to rent out the home, downsize and buy a caravan. The caravan is custom trailer that looks just like a home on the inside with all the amenities minus all the maintenance. There is a bit of work to do but not near as much as my parents had in the past. My mum and dad took all the belongings they didn’t need any longer and sold them at a car boot sale (a.k.a garage sale). The […]

Savings competitions helped couple save $20k to buy a house

MONEY COMPETITIONS CAN BE FUN   I’ll admit that I was always the competitive type growing up because I wanted to be successful at whatever I did. When I did participate in something I did it to the best of my ability and tried to surpass any goals that I set for myself. I could easily say money is a big part of my life in the sense that we need it to survive so I compete to keep earning it while building my career. I don’t challenge myself to earn a certain amount of money although we do set financial goals for ourselves. If it happens, it happens but we do live a frugal lifestyle and use a budget to help the process along. If I didn’t push myself to live each day to the max my life would be boring. My wife would never be surprised with the special things I do for her to make her day easier. Our son would not have the dad that goes above and beyond for him if I didn’t have some form of competitive nature in me. I want the best for my family so I work hard for them every […]

Peer-Pressured Party boy is failing school with $30,000 debt

POPULARITY CAN BE COSTLY   Graduating from high school and moving on to higher education is life-changing for many young people who then turn to their friends for support. I remember when I was getting ready to move on from secondary school to University  in the UK I had no idea what I wanted to do with my life. I completed some education research through my school and finally decided on a career path that I wanted to take and a school that I thought I might enjoy going to.   Education or Friends   I had friends growing up but I was never one who was always out partying because my time was very limited. My parents always kept me busy and when I went on to University I kept myself busy with my studies and my part-time job. I needed a balance of friendship but that was small compared to wanting to graduate and find a good job. Some but not all the friends that I did have always wanted to go to the clubs drinking but I was never into all of that. I’d go once in a while but it wasn’t really my thing, thankfully. Personally […]

How one guys financial problems became his hobby

THERE’S NO PERFECT FINANCIAL MODEL   Let’s face it, if you owe money to people you have financial problems that need to be addressed and attacked with a plan. Your money issues might not necessarily be problems that will cause you financial stress. On the other hand if your debt keeps growing you may want to re-think how certain events might affect your stress levels. Finances are for life not just until you are debt free because financial problems never really go away they just get masked with dreams. Financial problems may be considered consumer debt, facing bankruptcy, creditors calling, owing money to family and friends, no money to pay bills and even the unknown. The list is endless BUT people with little to no money aren’t the only people with financial problems. When you are in debt that can easily change if you lose your job and can’t pay the money you owe. Can you see how that might be a problem?  The birth of Canadian Budget Binder was created to share a journey of inspiration, new life and financial problems. I’m that “guy” Mr.CBB A.K.A (MO), welcome to my blogging hobby! Since the first blog post at CBB […]

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