How To Budget When You Don’t Earn Enough Money

NOT EARNING ENOUGH MONEY IS FRIGHTENING AND SCARY BUT TEMPORARY WITH A SHIFT IN PRIORITIES   Over the years I’ve had my fair share of emails from readers about budgeting but one of the tougher budgets to work with is the budget that doesn’t earn enough money to balance itself out. With that you need to examine two things, your net income and your monthly expenses because this is the only way to understand how to fix the money imbalance. A simple budget is a plan for your money so you know where it is going before you earn that money. What a relief it is knowing that you have all your bases covered but what if you don’t or can’t? Well, there are some options available to you but more importantly knowing what how much money you need is priority. I know that many of you reading this today may be in this situation and perhaps you’re not sure how to attack it or whether you want to but I can assure you doing nothing will only set you back further. With the recent announcement that Doug Ford has axed the minimum wage increase set for January 2019 to […]

Too Many Bills Not Enough Money Each Month

Some Canadians are faced with the reality that they simply can’t get to the end of  the month before running out of money. We humbly turn to credit cards, lines of credit or even borrowing from family and friends to make ends meet. For some Canadians having a high debt load and spending more than they earn spells disaster and for some debt denial is better than acknowledging it. This ends up leaving no room for  retirement savings, the kids RESP let alone an emergency savings account. With grocery prices slated to increase in 2013 it’s time to buckle down and make a game plan before the going gets tougher. Do you feel like your hands are tied and you don’t know where to turn? You’re not alone but there are ways to tackle this problem so don’t give up. What do you need to do? You need to either improve your income or reduce your expenses meaning that you have to take a hard look at your finances. Do you know your net worth? You should. Do you use a budget? You should. Budget, but why should I budget when I don’t have enough money each month? That’s OK, you still need […]

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