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Category Archives: Budgeting

Financial Literacy: The Key to Financial Well-Being

What does it mean to have good financial literacy? Being financially literate means having the knowledge to make decisions that will positively impact your financial health. As noted in the Relation between Financial Literacy, Financial Wellbeing and Financial Concerns, “the higher your financial literacy the greater your financial well-being.” Tracking spending, budgeting, saving, and borrowing responsibly are typical behaviours that characterize people of high financial literacy. Here we’ll go over how these behaviours affect financial literacy and thus, financial well being.

Controlling Your Finances With a Budget

Budgeting is a tool that can help you better understand your financial … Read More >

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Is Your Car Payment Preventing You From Getting Ahead?

Not too long ago, the average car loan was amortized for five years, never longer. But, somewhere between the American financial crisis and today, car loans can now be amortized for significantly longer. In fact, according to an article written by CBC News, “More than half of all new car loans are currently financed for 84 months — seven years — or longer.”

Furthermore, according to data from J.D. Power, between 2010 and 2015 the average monthly car payment rose from $522 to $542. Not only are Canadians extending their repayment terms but they are also choosing more expensive … Read More >

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Debt Freedom 56

Before rushing into my usual tirade about banks doing surveys and leaving the impression their findings are indisputable facts, I just loved the reference quote in the article in the Vancouver Sun  today about a boomer who lived through double-digit interest rates in the 1980s and over the years missed more than one naïve financial goal.

Yes. How many naïve financial goals are we still being subjected to?

I have recently researched the top selling personal finance books and suddenly realized that pretty much all of them make the roadway to wealth and retirement sound far too easy.

Dave Ramsey, … Read More >

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How Using Coupons Blew My Budget (Coupon Fail)

Coupon fail! How using coupons blew my budget - and how you can avoid my mistake!

By Courtney @ Women & Money Inc.

The other night I received $20 worth of coupons to use at a local restaurant, with no restrictions.

We had never been to this restaurant before so I checked out the website to read the menu, which had a variety of tasty sounding dishes as well as kid’s meals, but no prices listed. My husband and I didn’t have a dinner planned for that night, so we thought we’d pack up the kids and have a cheap dinner out.… Read More >

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5 Reasons You Didn’t Reach Your Financial Goals Last Year

This is just what I needed! Can't wait to try these tips! - 5 reasons you didn't reach your financial goals last year and how to achieve them this year.

A fresh new year is a motivating time for change; you want to move closer to your financial goals, you want to gain new habits; you want things to be different this year. This is how most of us feel this time of year — it’s in our nature.

But you’re not quite sure how to go about achieving your goals. You try to save money where you can, you try not to overspend, but you still can’t seem to get a good handle on your money and gain real progress towards your goals.

And at the back of your … Read More >

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Christmas Gift List and Budget Printable

I’m happy to offer you a new free printable: My Christmas Gift List & Budget. Although Christmas is still 3 months away, I’m starting to think about shopping for Christmas gifts now. I often buy Christmas gifts throughout the year, stash them away, and then forget how much I spent on them, who they’re for, or even that I had them sitting in my closet. This year I’m determined to be more organized, that’s why I created this Christmas Gift List and Budget sheet, and I want to share it with you!

Love this super handy free printable to organize Christmas gift shopping and stay on budget! My Christmas Gift List & Budget from womenandmoney.comRead More >

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Why you Need to Stop Living Paycheck to Paycheck – and How

If you are living paycheck to paycheck you need to read this now! Why this lifestyle is dangerous and how to change it.

Are you one of the many people these days who are living paycheck to paycheck? What would happen if your paycheck was delayed by even one week? Would you be facing bounced payments, payday loans, and eating only what’s already in your pantry and fridge? If so you are at risk, find out why and what you can do to stop living paycheck to paycheck.… Read More >

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Back To School Back on Track

Back To School and Back On Track -

It’s that time of year again… back to school. With the kids returning to school and the fresh crisp air of fall, back to school season brings such a feeling of fresh beginnings as much as the new year in January. Many of us have grown tired of the lazy, laid back days of summer and are ready for a bit more structure and achievement, whether that’s organization, routine, or growth.… Read More >

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Free Spending Tracker and Debt Tracker

Do you get to the end of the month and wonder where all your money went? Do you know how much debt you have and when it will be paid off?  We created our new free spending tracker and debt tracker spreadsheets so you can get organized, stay on budget and turn your debt payment plan into a mission.
Free spending tracker and free debt tracker printable pdf and excel worksheetRead More >

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10 Surprising Kid Expenses that Sabotage Your Budget

If you have kids, you’ll probably budget for their activities, clothes, shoes, daycare, and other regular expenses. But it’s easy to miss those annual and random items that inevitably pop up, so build a miscellaneous expense for the kids into the family budget to cover those costs. Here’s our list of 10 surprising kid expenses that sabotage your budget:10 surprising kid expenses that sabotage your budget - Women and Money IncRead More >

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Budgeting and Taxes Part 2

There is a little more to budgeting than good financial advice. You need to have the money.  The recent Conference Board of Canada report suggests that Canada’s social fabric is being torn by rising income inequality and stagnant child poverty rates. It appears that our child poverty rate is up 20% since the mid 1990s.

Of course our consumer debt levels have risen from $100 billion in 1990 to over $500 billion today. Not only has poverty been increasing it holds hands with an increasing dependency upon credit.… Read More >

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Holiday Season is here – Shall we go into debt for Christmas?

By Margaret H. Johnson

The top ten list to avoid debt for Christmas

I heard my first Christmas carol of the year about two weeks ago. And you know what? I’m still not in the Christmas mood yet. In fact, I’m not ready for any bells ringing or children singing or, bah humbug, a partridge in a pear tree.… Read More >

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Food Prices and the Family Budget

A Royal Bank study released recently draws attention to the cost of food. It’s hurting a lot of people. The Royal bank study suggests that the price of food went up 1.4% 3.8 % and 2.4% over the last three years. Eggs went up 20 -30% coffee a whopping 40%.… Read More >

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Creating a Budget

Creating a budget -

Use our handy Budget Worksheet

Some of you have never made a household budget, some of you may have made one a long time ago and need a refresher to get back on track. So, we are going to walk you through creating a budget. Get out all of your documents, a pencil and a glass of wine or a cup of tea, and follow these steps:… Read More >

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Income Tax and Budgeting

I don’t know why we’re soooo afraid or worried about doing our taxes. Many of my friends wait, wait, wait, worry, worry, worry, worry, and then, once getting into crunching a few numbers, they begin to feel better.

It really is a moment of truth. We stare our expenses right in the face, especially if you have a proprietorship or small business. That’s why income tax and budgeting go hand in hand.… Read More >

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Budgeting and Taxes

Lots and lots of stuff happening last week. The high point was my community workshop on budgeting. Wow. What a great group!!!

When I arrived Thursday night, January 31, there were only two women there. The one lady said, “Are we the only two broke women in Maple Ridge?” We all laughed.

Soon the room filled up with a wide range of ages and interests. What stood out more than anything else was their uniform interest in budgeting. They were all there for the same reason.

Budgeting is popular at this time of year. For some, it forms part of … Read More >

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How about a Budget for Christmas?

How About A Budget For Christmas?

If Santa has been watching the news around the world, then he might be thinking more about falling off a fiscal cliff than splurging blindly on everyone this holiday season. And this has nothing to do with Scrooge. There is a big difference between sensible shopping and Grinch-like cheapness.… Read More >

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Is it too late for a Budget?

Is It Too Late For A Budget for Christmas?

Now that Black Friday, Cyber Monday and Giving Tuesday has past, is there any money left for a budget?

Oh oh. I think it’s supposed to be the other way around. Aren’t we supposed to organize a budget first before we spend money?

To answer the very first question, it’s never too late for a budget. A budget always tells the truth – or at least it will get us thinking about what we are doing with our money. But this is often the rub. We are scared about the truth. We don’t really want to know how much everything … Read More >

Also posted in Blog, Christmas | Comments closed