Everything stops for a cuppa tea in our household because it’s during those minutes that we are able to relax, regroup and think about our next action steps. In essence we take a few moments to relax from the stress of our day to see where we are on our path.
We’re a family of 3 and debt free including our mortgage and it certainly wasn’t an easy road to get to this point of freedom. One of the most important mindsets that we adopted early in our marriage was that we would partially sacrifice today for our future riches.
That meant that we didn’t go out partying nor did we buy things we didn’t need. We were all about frugal living and still are but the emotions we felt when we burned our mortgage papers made us realize that it was all worth it. The smiles and gut-busting screams of relief made it all feel real to us.
No more debt, no one can take our life away from us now, we own it. Except for death of course.
Attracting money is easy when you have the mindset to approach all of the things that you want to embrace that will eventually give you options in life. One of the most uplifting feelings to wake up to is the ability to pick and choose how your day will go and not worry about financial stress. It’s a good feeling and one that only certain people earn because their mindset is on financial overdrive.
You don’t have to be a warrior in the financial battlefields to become financially secure and successful at what you do but it will take lots of hard work and sweat. The problem for most people who give up is they let one setback take over and then close the door. The key is to surpass obstacles with new ideas and to crush your goals with bigger challenges. Most often those challenges are from with-in.
Let me explain.
Budget
Never spend money before you earn it- full stop. The worst thing you can do for yourself is to buy stuff on credit.
Wait until you can afford it and pay cash but even then if it’s not a need then you are just wasting money you could be putting towards debt repayment or a savings fund to go on vacation or buy your first home.
Using a budget saved our financial life and it has continued to blow our minds month after month even though we don’t think much about our pay cheques these days.
You know when you’ve reached a comfortable point financially when you don’t wait for money to be deposited in the bank account. If you want that same feeling, you need to fight for it.
Change your mindset
They say if you change your mindset then you’ll change your financial numbers and boy is this ever true.
You can’t even begin a financial plan without understanding how you will approach each step along the way.
Stay focused, Stay positive and write everything down and stop listening to the non-believers, not beliebers…believers!
Transform your lifestyle
This is a biggie for lots of people especially those of you who are drowning in debt because you may be used to a free spend type of expense account but things are about to change. Going from spender to frugal shopper is not easy BUT it will certainly transform your current lifestyle into one that is manageable.
Never depend on one income
This is crucial because nothing is guaranteed when it comes to earning money as my wife learned shortly after buying our house. She lost her job with-in months of signing on the dotted line.
Thankfully we bought the house using only one income and at the time that was mine. It was very small as well and barely covered the bills and our investments.
Over the years as my income went up we can still live by these action steps we are sharing with you today so we could pay off the mortgage and finally say we were debt free.
Since then we’ve learned that having a second income stream is important. You can buy and resell for profit, use your skills to earn extra cash, work for cash, start a blog, freelance or invest.
In our situation I started working a second job part-time which also has my foot in the door for a full-time job next time there is a vacancy.
Make your passion your pay cheque
We love the process of earning money which means we also love what we do for a living. Since I’m the only working adult in the family it’s important to show your passion and to go above and beyond for your employer. This may mean learning new skills, working over-time or sharing ideas for improvements.
If you want to see a nice bonus or raise from your employer show them how much you love what you do. If you don’t love what you do consider making changes by taking up a new job, opening up a business, bringing your hobby to life or going back to school. You have to love what you do if you want the riches to follow.
Believe…just don’t give up
You are good enough to be whoever you want to be and to succeed at reaching the goals you planned for. If you give up on yourself because you invite too much negativity into the conversation you’ll never start, and that is half the battle to financial success. Don’t let anyone tell you that your dreams are impossible because the only person that can’t see that success is the person that wants you to fail because they can’t do what you do.
Hang out with like-minded people
It’s been said to only take financial advice from people you would trade places with so keep that in mind when you are hanging out with people who talk money. There are people who live off of credit and are in debt and then there are others who live a lavish, rich life because they work hard.
Don’t be fooled by the financial players rather be mindful of those who aim to educate and share success with you. That means you want to take advice from those people who are successful at becoming financially fit and not those who are stumbling along the way.
If becoming rich, wealthy or simply debt free is the name of your game then hang out with those very people who have played and won not those who are suffering and climbing with you.
Make your money work for you
Investing your money first is a great way to watch your future grow but with that comes potential volatility with the markets. If you’re not a big fan of investing in retirement savings funds and would rather save money in the bank to get the measly interest rate they offer as an alternative you could do this.
We have over $100,000 in the bank and right now it’s making crap money in monthly interest. The reason we keep so much in there is for renovations we are waiting to start what has been put on the back-burner as well as have an emergency savings fund. Liquid cash is gold.
Related: What would you do with $100,000 in the bank?
Investing in a business that you believe in is another great way to make your money sweat. Some of you may entertain a side job or a passion that will bring in extra cash or create a financial windfall. My blogger friend Mark from My Own Advisor is well on his way to retiring at age 50 by creating passive income with investments. Think about how you can make something a reality and go for it.
Time is just Time
For those of you who want fast money, fast success and fast growth you’re on the wrong track. Nothing that becomes an empire was done fast because it takes a team to build and that takes time.
If you want to build your financial empire remember that you are in charge but for it to fall into place you have to educate others who have access to money and forget about insta-rich and focus on future-riches. No one will ever get over the hill if they keep trying to fly without any wings.
Financially commit to becoming rich
Are you rich because you are debt free? Sure if that’s what makes you happy.
If you want it bad enough, you’ll go get it so challenge yourself. Rich doesn’t mean you are swimming in money either. We use the term rich to signify debt freedom and living comfortable with-in our means without money worries.
Related: What does rich mean anyways?
If you don’t commit I can guarantee you that you WILL give up. Don’t let that be you. What helps us is to post goals on our refrigerator since we congregate in the kitchen often. When it’s in your face it’s easier to remember.
Continuous learning
Education is never over. Whether you are a parent, CEO, or work for a company that you love you must always upgrade your skills and stay ahead of the next person who wants your role. When it comes to your finances knowing everything you need to about how your role contributes to the overall success of your financial plan is critical. Read and communicate everyday because there is always something new to learn about especially when it has to do with your financial affairs.
Thing Big, Act Big, Dream Big
You have to create the life you want and to do that you have to not only dream it but put actionable plans into GO mode. That means if you want to become debt free focus on ways to complete this mission. The important thing to remember is not to put too much on your plate because you don’t want your focus getting divided up by too many variables.
Compliment others
I don’t care if you are a guy or a girl you must compliment others whether they are family, friends, loved ones, co-workers or even your boss. When people are in a room with someone who can see through the bad and fill it with good with positive energy that’s like enjoying a chocolate brownie every day for breakfast without regret. It’s one thing to hear about the things we do wrong and another to have someone say good job for things we are doing and believe go under the radar.
Network
This is only one important aspect of financial success but one that most people interpret from a bulk standpoint. You see if you are focused more on how many people you add to your circle of friends or how many LIKES you have you’re missing the point.
What you need to do is talk to these people and get to know them by asking them questions and answering theirs. Planting the I’ll rub your back if you rub mine seed is one thing but growing your network takes talent.
Accept responsibility for failure
You must embrace failure for growth.
It’s not easy to say that you failed at something but this is the only way we will learn to do better the next time around. I don’t know anyone who is successful at becoming successful after their first shot at it. Compare this to the athletes in the Rio Olympics right now.
They trained day in and day out to get ready for the Olympics and along the way they made mistakes BUT they got back up and challenged them until they perfected them the best they could. If you give up you’ll never make the show and in this case the show is your stage, you own it.
Don’t wait
If you just read all of that you WILL succeed because it was damn long BUT it was important for me to share just how we run our financial life with all of you.
Welcome change in your life and don’t hang around hoping that things will get better on their own. Sometimes we have to battle through the dirt to get to the water which for some may take years but the important part is that you’ve started.
Related: How to get richer before you retire
What successful action steps have you taken on your financial journey?
Trouble I got into this week
This week was all about dust and lots of it. We both spent 2 days dusting our house from top to bottom. We have 21 ft ceilings in the house with a massive fan up top that needed cleaning. Normally I do it twice a year but since our little guy came a long and with all the work I’ve done at my second job it’s been at the bottom of my to-do list.
Our son had a balloon that ended up at the top of the ceiling but the fan kept pulling it over and then hitting it with the blades. The amount of dust that fell was shocking. We had to wash all the blankets and pillows in the living room as well dust it all. What a long day that was because we didn’t stop there. Since we had our cleaning groove on we dusted and cleaned anything in sight.
Soccer was a semi-pass this week but he still wants to do his own thing. We’ve signed him up for another few months to see if it will grow on him since he’s still young.
Needless to say my wife is happy the house is dust-free again since she’s allergic to dust. We talked about hiring a cleaner to come and help but decided not to and tackle it ourselves. Other than that and a trip to Hamilton and a brief stop off at Value Village we stayed as cool as a cucumber.
How was your week?
Awesome posts I published this week
Just in case you’ve missed any of my blog posts this week I will share them all below. If you are looking for past Saturday Weekend Review posts scroll down to the bottom of this post where I will list up to 5 previous weeks for you to read.
If you have a question that you would like to ask Mr.CBB fill out the Contact Mr.CBB form on the blog home page and I’ll do my best to reply to each one. If you want to share a story via a Fan Question please ensure that there is minimum 500 words and lots of details…we love details! I’m more than happy to chat via email to bring your story to life.
New: If your story submission gets chosen and published you will be entered into a yearly draw for a $25 Gift Card or $25 CDN via PayPal if you are from the USA.
Right now CBB is posting Tuesday (Grocery Game Challenge), Thursday (Personal Finance Post), Saturday (Personal Finance and Weekly Wrap-Up and a Frugal Recipe on Sunday!
Top performing CBB Post this week : How to make money fast without going crazy
- Financing Your Kids Future With The Canada Child Benefit
- 5 Ways To Spend Less Time Grocery Shopping And More Time Saving
- 30-minute Banana Chocolate Chip Muffins
Reader Budget Brags
Join the Budget Brag Challenge 2016 and WIN!!!
You got WHAT for HOW Much?
What I love the most is when my fans share their amazing shops with me whether it be groceries or other deals they find at a garage sale, online or freebies! For 2016 if you send me your Budget Brag you will automatically get entered into a yearly draw for a surprise gift card.
Every submission gets a ballot in the draw but you get an extra ballot if your brag is featured. Start sending in your brags with a photo and tell me about your deals. If you reside in the USA and win I will PayPal you the money. Open to Canada and USA residents only.
Email me at canadianbudgetbinder@yahoo.ca
Hi Mr.CBB,
There weren’t many garage sales listed in the local paper this week but we found lots while we were out and about.
Here are this weeks garage sale deals:
- Noise machine $3 (asking was $5)
- Bendaroos craft and gloves (not pictured) $2
- Huggies wipes containers – free
- Dippin’ Dots ice cream maker, knees pads, elbow pads and wrist guards $5 (asking was $10)
- Kite (was brand new in package lol) $1
- 10 Hangers $1 (asking was $1 for 6)
- Chalk $.25
Total spent $12.25Thanks, Jen 🙂
Making a difference (MAD)
Welcome to the 2016 Making A Difference series! Join the networking movement of Personal Finance Bloggers around the world. If you are a personal finance blogger (anywhere around the world) and would like your blog to be MAD featured simply drop me an email and I’ll explain the process to you. I’m currently booking for September and October.
This is my way of giving back to the personal finance community through networking and sharing knowledge with my fans. Today it is my pleasure to share with you the personal finance blog Money Q&A.
Hey everyone!
My name is Hank Coleman, and I run the blog, Money Q&A. I’ve been a blogger and freelance writer for the past nine years focused on personal finance, investing, and retirement planning.
I founded Money Q&A in September 2010 after running several other popular personal finance blogs. Money Q&A is dedicated to helping people save more money, learn how to invest, plan for retirement, spend money wisely, save more money, and overall help make personal finance less confusing. The blog aims to help readers take back control of their financial life, answering one financial question at a time in plain English.
Unlike most personal finance bloggers, who started blogging as a way to document their “get out of debt” story and stay accountable, I was one of the few bloggers almost a decade ago providing tips and advice based on an actual education background in personal finance. I have a Master’s degree in Finance and graduate certificate in personal financial planning. I provide tips and advice that is backed up by the education and experience others in the space lack.
Like most personal finance bloggers, I’m driven by a sincere desire to help others, and that’s what Money Q&A is about. Everyone has questions about money, saving, retirement, and investing. But, many of the answers on the internet are confusing. Or, people are overwhelmed and don’t know where to even begin. That’s why I started Money Q&A.
I hope to make a difference to the readers who visit the site and subscribe by providing easy to understand advice and actionable tips that you can implement immediately to take back control over your finances. Personal finance is just that – personal. But, understanding the right steps to take and why you should take them can help you take the emotion out of your financial decisions.
Many of the articles that I write on the blog are questions that readers have emailed me over the years. I love receiving emails and questions from readers who need help understanding their finances and the steps to take next. So, feel free to email me any time at Hank [at] moneyqanda.com.
Hank
Frugal Recipe Pick
Food and grocery shopping are relevant to us because food is a large part of the budget which people struggle the most with.
We all have to eat to survive but just because we have a budget doesn’t mean we can’t eat delicious home-cooked meals that are drool-worthy.
If you are someone who would rather buy convenience foods consider cooking homemade meals or baking from scratch. Not only will you save money but you will be proud of what you’ve accomplished and you’ll see that from the smiles on those you feed.
For the past 2 years I’ve had a second Facebook page called The Free Recipe Depot where I exclusively share recipes from Food Bloggers around the world. I also share recipes on the blog on Sunday either made by home cook and mom Nicola Don or myself.
This week our Top Recipe Pick this week goes to Marzia over at the Little Spice Jar blog for these to-die for Key-Lime Pie Bars. All I see is refreshing, light dessert bars that would be a perfect summer treat or finish for any meal. I like light desserts and anything lemon or lime is a hit for me.
Cool Pinterest Find
The Pinterest addiction is starting but not so much pinning like crazy but simply reading about so many different topics that are important to my life.
Tonight this photo that says “3 Questions To Ask Your Child Every Night” by Ellen Mady over at the blog Eyes on Heaven caught my attention.
Below are the three questions but she going further to explain why they are important and how these questions can help your child.
As part of our bedtime routine, I ask Charbel three questions each night:
What is something that made you smile today?
What is something that made you cry today?
What is something that you learned today?
As a new dad to an almost 2-year-old boy who’s learning about life every day it’s important for my wife and I to teach our son about communication, listening and sharing. I loved this 3 question idea and if you’re a parent you might too.
What is your bed-time routine like at home with your child?
Editor’s Choice
Every week I will pick a blog post of the week from around the web that I found interesting and want to share with all of you. Please head on over and give the post a read and let them know that Mr. CBB sent you if you comment. Thanks.
Editor’s pick (That’s me Mr.CBB) This week the Natalie over at Finance Girl shares the 4 G’s to Personal Success which I felt went together nicely with my post today. As a graduate of law school she was faced with $206k in student loans.
At the age of 25 she needed to think smart and get the ball rolling and her plan included the following which she describes in detail on her blog. What I like the most about this post is the honesty because it takes so much out of someone to say they are in debt BUT I’m doing something about it instead of complaining. Well done.
- Grit
- Growth
- Giving
- Gratitude
Finance Quote Of the Week
This quote “Just because there is a sale doesn’t mean you have to go shopping” from Becoming Minimalist is a powerful one for anyone trying to get their budget under control. So many times we read the flyers or follow online sales that motivate us to shop. Forget that push and use your strength to say NO, we don’t need anything.
Google Search Giggles
Always begin and end your day with a SMILE!- Mr.CBB
Every week I get thousands of people visitCanadian Budget Binderbecause they did a search online and found my blog. If you notice any spelling errors below this is because I share the exact way it was typed into a search engine query to land on my blog.
Most times funny, Sometimes serious.
- Wives spend husbands money too much– Most men only have 1 wife to deal with so best of luck to you.
- Does Costco Canada sell frozen chicken Wings?– I’m going to guess yes.
- Should you be concerned if your boyfriend spends too much money? – The fact that you are searching this tells me that you are smart. Now, take those smarts and apply them to this situation and run if you’re not comfortable or talk to him. No guarantees he will change but that’s the risk you take staying.
- Making money from the Government of Canada– Wow, I didn’t know we could do this. Please do tell all.
- Borrow money from rich person– Good luck
- Expensive house in cheap neighbourhood– Sounds good but you may not get what you want when you sell it.
That’s all the fun for this week, thanks for dropping by and we’ll see ya all again next Saturday!
Mr.CBB
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- The Saturday Weekend Review #180: How to Make Easy Money When You’re Broke
- The Saturday Weekend Review #181: Should I buy a Cheaper or more Expensive house?
- The Saturday Weekend Review #182: Free Stuff to do During A Heat Wave to Keep Cool
- The Saturday Weekend Review #183: 8 Habits To Increase Financial Self-Discipline
- The Saturday Weekend Review #184: In 1 Minute This 10-year-old teaches the world about materialism
