Monthly Archives: April 2016

3 Friendly Financial Tips For Those Twenty Somethings

For 20somethings

Living in your twenties is not what it used to be, and in no way is it easier.  In fact, thinking practically, living on your own in your twenties has become quite challenging.  Many young Canadians have actually returned back home, finding the financial strain too much to handle.  Balancing finances, work and school is hectic–but having to struggle just to keep the lights on is not something 20 somethings in Canada should be having to confront.  This is a fact everywhere!

It might not feel fair, but that’s life.  It has become truly chaotic for young people today.  The job struggle is very real, and though unemployment is supposedly lower–too many young Canadians, it doesn’t feel like it.  It can be hard trying to manage money properly, at any age.  The following information will hopefully be a guide for those in their 20’s. The main goal here is to help young adults learn strategies and tips to make finances a little bit easier for them, or for anyone at all!  More importantly, these top tips should help young people avoid gathering debt that can pose harm for the long-term!

Top 3 Financial Tips To Help Young Canadians Avoid Money Mistakes

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Group of college students studying at campus

1)  Discover the power of negotiation

Yes, you’re never too young or too old to learn how to negotiate when it comes down to financial decisions and purchases.  Often times young people get suckered into a raw deal that just isn’t beneficial at all.  Understanding the power of negotiation can change everything.  From negotiating your salary to a job promotion and more–you need to learn to be in control of this area of your life in particular as it has a huge impact through your life!

Let’s not forget that negotiating for a good mortgage, car financing, medical services (and other consumer services/items) is very important.  Learning how to get the best from your money takes some investigating and even bartering.  However, all of this is really beneficial to your financial portfolio!

2)  Start investing for your retirement now

You’re never too young to invest in your retirement, and the sooner you do the better off you’ll be.  When you begin investing at a young age your money has a longer life to make a difference for you.  We’ve all seen the advertisement on investing for retirement, and they don’t exaggerate.  This will ensure you keep your normal life on the most successful path possible, and you won’t regret investing in your future!

3)  Avoid consumer debt and don’t make brash decisions

You should think and plan before you make the wrong financial decisions.  Debt can be crushing, and if you continuously make the wrong choices you’ll soon be drowning versus swimming–or even treading water.  Be smart and stop, think–then act.  Don’t use credit cards.  Make only cash purchases to keep your credit intact.  This is the easiest way to avoid harmful debt so many across Canada are dealing with.

Also, let’s never forget the importance of establishing an emergency fund.  Having money set aside to cover those unforseen disasters is not only crucial for your sanity–it is necessary for your wallet!

 

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Budget Friendly DIY Project Gifts For Mothers Day

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Mothers Day is almost upon us and it is definitely time to begin planning, but where to start?  Most begin with a financial plan–which is absolutely fine.  You’ll find that we are all about staying on a budget here.  There are many ways you can celebrate Mothers Day without ruining your monthly savings goals.  All of the examples we plan on sharing are sure to turn out great and make Mom feel more than appreciated!

There’s no reason to feel bad for wanting to stick to a budget, and we are sure any mother would be proud of their offspring for doing so!  You can really do a great deal for dear old mom on this glorious day, without worrying over how much to spend, or if she is going to like it or not!  Now, while many will take their mom out to dinner and maybe a movie, there is nothing more timeless, or priceless than a DIY Mother’s Day gift from the heart.  Not only is this idea more authentic, but it involves time and commitment to develop.  This is why most mother’s will be so much more grateful for such a gift–rather than a day out, or evening on the town that can cost a good couple hundred (depending on what you do and where you go).

The budget friendly DIY ideas to be shared with you here are guaranteed to bring that special woman in your life joy for years to come!  She’ll never know how conservative you were in getting it together either.  However, you can invest as much as you want, but if you want to keep it at an affordable value, creativity comes into play in a vast amount!  So, let’s take a look at some of the fun and diversity to be had when you really put that creative mind to good use!  The following 5 budget friendly ideas are sure to provide that satisfaction and euphoria for that special mother in your life!

5 DIY Gift Ideas for Mothers Day

 

1.  Nothing says “I Love You” better than a home made breakfast

It isn’t going to cost a fortune, and your mom is going to be happier than you could ever imagine!  If you plan on being more creative and using a decorative tray, don’t forget the flowers!  Breakfast in bed is a dream come true for many Mother’s–and it’s unforgettable!  Don’t think about doing it, DO IT!

2.  Did you think about “home made bath salts”?

You don’t have to go out and spend a fortune for bath salts.  These can be put in decorative jars hand crafted for authenticity.  Make sure you choose fragrances that are sure to be very aromatizing for tired mom!  Remember, these are extremely cost effective, but highly creative!

3.  Give a green gift!

Mom will appreciate your consideration of the environment and won’t even stop to think about how much, or how little you might have spent.  You can do well by going eco friendly if your mom is a bag lover, and brings her own shopping bags.  Do make sure you use recyclable cotton and other accessories.  You’re only limited to your own creativity!

4.  Go with a family tree photo frame 

There is no doubt mom will love this!  You can use pictures gathered through the years to add more poignancy too.  This is one of those emotionally charged gifts that are more valuable than any amount of money.

5.  Create her favorite eye mask

You can do this with ingredients you probably already have on hand!  The main expense comes in with the basket and the tiny little jars you might want to bejewel and make eye catching!

All of these little gift ideas mean so much more than spending a large amount of money.  Don’t forget overnight getaways, or a stroll in a scenic park!  Let your mind guide you, and always reminisce on those things you’ve noticed your mom most fond of to get it right!

 

 

7 Reasons Why Your Budget Isn’t Working For You

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Have you really asked yourself why your budget isn’t working for you?  Now, clearly, you must know that a budget is absolutely critical to have if the goal is to pay off debt?  You might be running into an issue where your calculated numbers just aren’t matching up with what you’ve been working with.  You might be overspending, or you might be forgetting where some money is going, therefore this calls for a quick analysis to pinpoint where the problem really lies.  Below you’ll find some advantageous tips that might steer you back on track.  Budgeting and tracking finances is one of the more difficult things in life, but this can be mastered and you can get ahead.  Let’s take a look!

10 Tips That Will Help You Overcome Financial Obstacles

Bad spending habits are most often the reason why a budget isn’t working!  However, it isn’t always easy to find these errors, as mentioned. Admitting there is a spending issue and not enough accountability is a starting point in a positive way!  Now, to really get an achievable budget working perfectly you need to begin sizing up what expenses you can cut back on or remove altogether.

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Tip 1:  What expenses to cut back first?

Perhaps cutting back on driving might be a way for you to begin saving more and meeting a better budget?  For instance, you could park a few blocks from work to save on city parking costs and also to help your physical health as well.  Here, with this tip you can save medically and on everyday expenses!

Tip 2:  Only use cash when out and about

That’s right, leave credit cards, debit cards and your checkbook at home!  Only allow for cash purchases and you’ll find this will help you stay on track of a budget.  You’ll not be able to overspend this way, and you’ll save far more!

Tip 3:  Visualize your gains when you establish financial goals

In order to keep yourself on track, visualize where your saving and budgeting is going to get you in the future.  If you’re saving for vacation, think of the stress relief you’ll have for having planned and prepared ahead of schedule.  This same strategy can be applied to home improvement ideas and other necessities.

Tip 4:  Think about a purchase before actually spending

This is an age old strategy that will really work for you if you apply it correctly!  Of course, this is one that has been discussed time and again, but it seems to be one of the hardest to stick to.  Impulse pending is a hard habit to break.  If you don’t have any necessity shopping to carry out, make sure you carry only a small amount of cash to avoid the temptation of immediately buying something you really don’t need.  However, make sure you’re covered financially, in case of an emergency or mishap!

Tip 5:  Detoxify your budget

You simply have to work out the kinks wherever they may be lurking!  Take the time to challenge yourself to save more and spend less in smarter ways!

Tip 6:  Record every transaction

You have to stay on top of your spending and where your money is going.  Carry a small notebook and pen at all times!

Tip 7:  Always write down all of the necessary expenses

Not doing so can lead you astray and make you lose track of your expenses.  From allowing for extra gas, to groceries, to prescriptions and more–know where every penny is going.

 

 

 

 

 

 

5 Tips To Help You Manage Sudden Unemployment

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The unemployment rate within Canada is still slightly higher than average and joblessness is certainly of high concern.  It is quite natural to feel anger and resentment when one is suddenly faced with a layoff.  Unemployment is a scary thing.  For many Canadian families, a job loss can mean financial disaster, and many are living paycheque to paycheque right now.  There is good news though.  There are many things you can do to gain control over a situation like this, and there certainly is support available.

Just to begin, you have to take care of yourself and control the stress and anxiety that can result from a job loss.  You can also reach out to others and even take this opportunity to re-evaluate your goals.  Maybe, just maybe you might find this is what leads you into finding a career that really makes you happy.  There is always something good to be found.  Let’s take this time to look at some of the tips which might improve your life and get you on the right track employment wise and financially stable too.

Also. many Canadians find a payday loan can sometimes ease financial stress, as long as the payback is in payments and comes with a low interest rate.  There are times where this is a very feasible solution, but you need to remember not to get in over your head.  A payday loan is only a short term solution and is not meant for Canadians to lean on in times of trouble.  Paying a loan like this off as soon as possible can actually help your personal credit!  Below are 5 other tips to help you manage and cope through a sudden job loss and gain control over your financial outlook!

5 Tips To Help You Manage Unemployment

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Tip 1:  Consider picking up a trade that is in high demand during this time

If you have a small nest egg you can depend on, this might be the best time to invest in a long-term future goal!  Going to trade school isn’t as expensive as one might think, and you can normally pick up an applicable trade within 3 to 6 months.  For instance, plumbers make excellent money and a trade like this can keep you financially stable for an indefinite period!  This is something to certainly consider.

Tip 2:  Take time to build upon your existing qualifications

This is the time where you can really sit back and try to exemplify on your hiring traits.  You want to get a job that will really make you happy and this allows you to take the time necessary to match up your skills with the perfect position.  Of course, some don’t have this leisure time available, but if possible, it is the opportunity you need to really land a career for the long-term, not the short-term. If you have the chance. fine tuning your resume might mean everything between getting a job and not getting a job.

Tip 3:  Link your profile online

Yes, online linking can help you acquire a new job faster, and more than likely, this can be aimed towards a career you really like!  So, now is the time to take advantage of online resources.  There has never been a better time to start linking your online profile today!  Make sure your attributes shine through and make you stand out from the crowd.

Tip 4:  Develop more positive thinking

Staying positive and having a positive outlook can make a huge difference.  Don’t let unemployment control you, take control of it and focus on good thoughts! Perhaps taking up yoga, or beginning to research self-help techniques might be a good idea to remain steady and balanced.

Tip 5:  Put forth positive energy during a job search

If you’re going to overcome unemployment you have to believe in your own abilities and have faith you can find a job you’re cut out for.  It takes work, yes.  However, focusing on exactly what you need might show you the more positive side of things!  Stay focused and work hard to find a way through a time of unemployment!  It isn’t easy, but there are resources to help.  Just remember, this period of time isn’t forever.

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Living Healthier Can Save Your Finances

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If you become proactive with your health you can definitely achieve a much improved financial outlook. Financial stress simply leads to mental and physical problems that can weigh the body down and make one sick.  This is an absolute fact.  So, naturally, taking steps to start improving your physical and mental well being will be beneficial to your financial portfolio. The following 7 tips we share with you here will most certainly boost your self esteem and ease stress about money at the same time!  Let’s take  look.

7 Tips To Help Improve Your Health And Your Finances

Remember, a healthier you can help to minimize your risks for developing chronic diseases and you can be happier as well.  The money you can save is just one of many rewards!

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Tip 1:  Stop Sitting All Day

Even if you have a sit down job you can switch between sitting and standing, which can safeguard your health. Prolonged sitting does increase the risk for diseases such as diabetes and heart disease, so finding ways to be active (even on the job) is critical to your health and your finances!

Tip 2:  Take Advantage of a Workplace Wellness Program

Many offices now have a workout facility right within their own building.  This allows you to take advantage of fitness, even at work.  Taking just 15 minutes out of your lunch to get some exercise in can improve your mental awareness and minimize stress at the same time!

Tip 3:  Believe it or Not:  Eat Less Meat

While some meats can be healthy for you, eating too much can still cause you to gain weight and increase your risk for specific diseases.  Removing meat from your diet altogether can lower your risks and save you money, allowing you more options to save or invest the way you really want too!  Further, this will allow you to shave money off that somewhat hefty grocery bill too!  You’ll be amazed at the savings you can discover.

Tip 4:  Quit Smoking Now

If you can quit smoking now you can save yourself long-term health complications within the near future.  Not only are cigarettes an expensive habit, they also contribute to several disease symptoms as well.  Smoking places individuals at higher risk for heart disease, cancer and lung disease.  Also, don’t forget how expensive this extracurricular activity is.  However, if you can quit now, you’ll find you can save thousands and safeguard your health in the process.

Tip 5:  Consume Moderate Amounts of Alcohol

Too much of anything is bad, no matter how good it is for you.  Consuming moderate alcohol can improve your vascular health and benefit your heart!  Not only this, but a couple of glasses of wine in the evening can calm your nerves and alleviate stress without dependency issues.  Approximately $450 is spent on alcohol per individual consumer per year.  If you drink conservatively you can save a great deal, and once again, protect your health!

Tip 6:  Stay Hydrated

Keeping your body hydrated properly guarantees optimal health and ideal bodily functioning.  Steer away from sugary drinks and definitely soda!  Adding a couple black coffees a day can give refreshing energy, and it is even hydrating too!

Tip 7:  Avoid candy eating in excess

We all have a sweet tooth, but if you’re hoping to save money and keep your teeth healthy. reduce your intake of chocolate and other sweet treats!  Too many cakes and cookies can harm your mouth and body in a very adverse way–leading to medical treatment and dental treatment.  These are costs you could avoid!

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Hopefully these 7 tips will get you positioned correctly in the drivers seat.  Pay attention to your diet, your stress and especially your bad habits!  The goal should be to live longer, healthier, happier and with as little stress and anxiety as possible!  Staying on top of your finances, or controlling those areas that can have an adverse impact on your finances can definitely have a positive affect! Good luck and happy saving.