Category

Budgeting

Category

How you manage money as a couple is a weird thing. People have A LOT of opinions about whether or not you go joint on everything or keep separate finances. The problem with that is it’s a really personal decision. There’s no one answer for any couple, and many couples (me included) take a combo approach. Instead of preaching one way or another, I want to chat about how to make either approach work. At the end of the day, it comes down to being on the same page with your partner and (surprise, surprise) good communication. Separate Finances Is Not A Warning Sign If you don’t combine your money, I can almost guarantee that someone has made a snide comment about trust in your relationship. Old school logic was that when couples get married, they combine all their money and the man of the house would control it. Not…

Getting life insurance is one of those things that all millennials should at a minimum consider. But very few of us have actually taken the step. We’re still young and invincible, right? And broke. Life insurance is another expense we don’t need to add to our budget. According to a study completed by New York Life in 2018, only 10% of millennials have enough life insurance coverage. Based on the findings, millennials are dealing with a life insurance coverage gap of $352,000. Thirty percent higher than the next closest generation. What exactly does that mean? It’s the gap between the amount of money you would need to replace the breadwinner’s income and the amount of coverage you currently have. What’s Enough The first question you need to answer when you decide life insurance is a necessity is how much coverage do you need? Do you want to provide your spouse…

I’m an avid reader. I read every night before bed and listen to audiobooks when I walk to work, talk the dog out or clean the house, and there’s not much better than curling up with a good book on a Sunday afternoon. I’ll read just about anything (except fantasy, not my thing) but I have a particular interest in keeping up to date with books on money; especially Canadian personal finance books. I love finding something that tackles the topic of money in a fresh way and isn’t just a regurgitation of the same old advice. The one problem I have with books on money is that they are so often focused on the US. I get it. It’s a way bigger market. But it also means us Canadians can have a hard time seeking out books that don’t talk about 401k’s. Sure, most of the advice can cross…

Ok couples, real talk time. This one is for all of you in happy, nurturing, loving relationships who maybe aren’t as prepared as you should be. There’s no perfect couple (Instagram’s a damn liar!) but some couples are living the good life, and other’s who are struggling. If you’ve ever been in the second scenario, you’ll know how stressful it can be. And the role money can play in that situation. It is essential that you protect yourself from a failed relationship with access to cash. Your own money. In your own name. And not at all tied to your spouse! Thinking about the end of a relationship sucks. I get it. It’s like having the death talk with your parents. It’s important though. You need to prepare for the bad times during the good times. The Not So Pleasant Stats The divorce rate in Canada is 38%, and that…

How many of you ended up here because you have a goal of saving money and taking control of your finances? And how many of you want that, but want to put in the least amount of effort possible? My kind of people! Today I want to talk about budgeting. Everyone’s favourite topic. However, instead of forcing you to track every penny, I want to share the easiest budget method I’ve found to eliminate overspending without all the work. My History With Budgeting If you’ve been around the blog for a while, you’ll know that I’m NOT a natural saver. I swear there is a something in your DNA that determines whether you’re frugal or spendy. I definitely have the spendy gene. That doesn’t have to be a bad thing though. As they say, the first step is acceptance. Understanding yourself as a spender will let you build up an…

Do you ever feel overwhelmed when it comes to money? It’s ok to admit it, we all do. There’s so much information out there on what you should do, how you should do it, what you should have done a decade ago, and exactly how much money you should have in the bank. But at the end of the day, none of that matters if you don’t know where to start. Sometimes the best thing you can do is just stop. Stop looking for all the answers, stop being afraid to take the first step, stop feeling like you need to know everything when you already know enough. Today I want to motivate you to do one good thing for your finances. Whether your knowledge is beginner, intermediate or advanced, I’ve got your back. Let’s figure out that one improvement you can tackle right now, and then maybe another one…

When you think of budgeting, what’s the first thing that comes to mind? I’m going to guess it’s not freedom or fun, or pretty much anything positive. Am I right? Instead, you’re probably thinking it’s a hassle, it’s complicated, or that you’ll be depriving yourself of good times. Well, I’m here to defend budgeting. It doesn’t have to be like that. I won’t go so far as to say that budgeting can be fun (I kinda have a thing for spreadsheets but I know that’s not the norm), but it can fund your fun. What does that mean? By building fun money into your budget, you can spend without guilt. That’s what budgeting gives you; guilt-free spending. Building Fun Money Into Your Budget I am not the person who wants to save everything for a rainy day. You guys know this. I’m all about that balanced lifestyle. I want to…

It’s that time of year when the weather is starting to turn, and it feels like spring might be just around the corner. I don’t know about you, but I always find myself more motivated to get things done now than I do at the start of the year. I’m spending more time outside, thinking about what’s going in the garden this year, and getting motivated to deep clean the house. Why not carry-over that spring cleaning mentality to your money? Many of us set goals at the beginning of the year to spend less, earn more, or start investing but I bet some of that initial drive has started to wane. That makes now the perfect time to kick things up a notch and get back on track. To help get you started (again), I’ve got 18 small steps you can take to make your money work for you.…

There is nothing I recommend more to people wanting to understand their finances more than budgeting. Seriously, it is an essential first step. Budgeting, Really? Yes, really! What’s the first thing you think of when you think of budgeting? Unless you’re a fellow personal finance geek, you probably had words like ‘boring’ or ‘uncool’ or ‘not my thing’ cross your mind. It gets a bad rap, but that’s just not fair. Nothing can turn your financial life around faster than the right budget. Notice how I said the right budget? I truly mean that. Your budget can (and should) be as individual as you are. I’m all about balance and want to save you from a super restrictive budget. I’ve been there, done that, and you know what? It sucks. If your impression of a budget is something that takes away all your fun money, you’re wrong. A good budget will open…

Have you ever felt pressured into spending money? I’m sure 99.99% of us answered yes. And I’m also going to guess that the most common reason behind that pressure is because your friends are planning or buying something you want in on. The fear of missing out is real. And it’s powerful. Here’s an example… Garth Brooks did a nine-concert stand here in Edmonton and it was all everyone could talk about for a while. Am I a Garth Brooks fan, nope? Did I almost convince myself I should buy tickets to the show just because EVERYONE else was going? Absolutely! But I was talked off the Ticketmaster ledge by my more rational minded (aka. more country music hating) friend. And when the concert dates arrived was everyone raving about how amazing he was and flooding my social media accounts with pictures. You know it. Am I sad I didn’t…