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Budgeting

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Humans are smart. Sure, we might do some pretty stupid things, but there’s a lot of brainpower going on up in our heads. Sometimes we use all that brainpower in the wrong way. We often know what the right thing is but find ways to justify doing the wrong thing. I should go to the gym, but I had a hard day, so I deserve a Netflix and binge eat popcorn night. I should really finish that work assignment, but I haven’t gone out for drinks with the girls in FOREVER. I should really save for the future by OH MY GOD THOSE SHOES ARE ON SALE! Sound familiar? Yeah, me neither. I am definitely not all those people. We are pretty amazing at justifying decisions that aren’t in our best interest. And we’re especially bad at this when it comes to money. I bet every single one of us…

I’ve talked on the blog about the vital role life insurance can play in your financial picture, but I haven’t specifically talked about disability insurance. Today I’m fixing that! Super exciting right?! I know how much we all love chatting about insurance. The thing is, life insurance is important. But when you are just starting out and haven’t built up a lot of assets, then disability insurance is likely even more critical. What Is Disability Insurance? Life insurance is there for your family when you die, but disability is there for you when you get hurt. It will step in and provide you with money when you are unable to work and receive your regular paycheque. Think for a minute about what would happen if you were injured and couldn’t work? Obviously, your finances would suffer. You might not be able to pay your rent, buy groceries, or do any…

You’ve had a torturous week at work and Friday afternoon happy hour is calling your name. What do you do? Say screw it; I deserve a cocktail and a basket of truffle fries? Or jump on the bus, eat your pre-planned dinner (with a large side of wine) and take a long hot bath? I can’t tell you exactly why, but scenario one is way more tempting to me. Maybe it’s the social aspect or the fact that I have a thing for overpriced cocktails, who knows. What I do know is that no matter how much better scenario one sounds, scenario two will leave me happier in the long-run. Blame Parks & Rec if you want, but the ‘Treat Yo Self’ phenomenon is no longer an annual tradition (as touted by Tom Haverford) but an everyday excuse for irresponsible spending. Look I get it, we all have good days…

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…