Tag Archives: family finances

Learn 10 Exclusive Money Habits To Improve Your Financial Portfolio

Are you being your own best adviser? If you are then you have to be one of many proactive Canadians asking yourself just what your doing on a daily basis to help your income become larger? Also, you might be dedicated on researching ways to gain higher interest on your savings at your bank. Developing some new money habits is important when you are attempting to transform your financial portfolio. It takes time, but it is well worth the effort.

Canadian consumers have heard, or read that their daily decisions regarding money have a huge impact on their long-term financial health; and this is very true. Just as you should take care of your body by eating healthier and getting in exercise daily, you should tweak your finances and stay on top of money coming in and money going out. You should have a financial plan in place. Now, there are specific money habits that can keep your budget neat and trim; and which eventually lead to you establishing a good amount of wealth too. If you want to live comfortably one day, without worrying with how much something is, or some kind of emergency coming up, the following below habits can whip you into shape.

What Can Canadians Do Daily to Reach Wealth by Retirement

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It doesn’t even have to be when you retire. If you start controlling how you spend money now and setting up a proper budget habit then you can achieve a secure financial status far before you retire. However, you have to have the income. If you are short on funds that will help you save then you need to consider finding new ways to bring in extra money. Sometimes you have to work more to succeed later–that’s life! Great things just don’t happen overnight. Many Canadians have to work harder than ever to achieve financial success, but that is okay too. It’s a great goal, and it’s an admirable one.

Need to spend less than you are earning

This is not a new one at all, it is certainly a habit that needs to take priority. If you continuously have more money going out than you do coming in this can present a problem. But, if you control your spending and develop new financial habits you can gain control here.

Always make sure you budget for all those little extra expenses

You don’t want to get caught with your wallet empty! You never know when something might come up, so being prepared is the smartest financial decision you can make. You want to have more than just the basics as well. Remember that the little expenses can add up. Sometimes you need to learn when to say no to that Chai Latte at Starbucks! Those little things really do deplete a budget fast, as do other unnecessary expenses.

Write down everything you spend

This might feel tedious, but it is the only way your going to be able to keep up with your finances. Carry a little notebook with you everywhere and right down even the smallest expenses. You’ll soon be able to see exactly what you’re spending money on.

Design an all cash type of lifestyle

8 Expert Ways Canadians Can Stretch Their Money

How far can Canadians stretch their money today? Seriously–how far can that one paycheck take you? Unfortunately it isn’t very far for most Canadian families. Economics are definitely upside down across Canada and even more so within the US. The goal is discovering how you can stretch your money without feeling restricted doing so. It might sound difficult, but really–it’s not. You have to develop the right attitude and mindset regarding your money. We do understand if you’re already on a shoestring budget this can feel almost impossible. However, there is always a way for those who are intent on improving their financial lives!

We don’t recommend accepting payday loans, or taking out any kind of high interest loan to make ends meet either. You have to be smarter than this. If you’re in a situation where you know you can pay a payday loan back in full, that’s fine. But, don’t ever take one of these out and get trapped. Too many Canadian families do this and find themselves renewing it week after week–or pay period after pay period.

Expert Tips To Guarantee Canadians Stretch Their Money

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Let’s get right to it and help families begin to feel more comfortable about their finances. Remember, it’s all about that mindset!

  • Make a rule to not spend a specific kind of currency! Whether this be $1 dollar bills or $5 dollar bills, start putting these aside each and every time you have them. You’ll feel satisfaction watching that nest egg grow
  • Have you ever considered making your very own cleaning supplies? We all know how expensive these have become through the years, right? Well, if you make your own–Canadians stretch their money in unbelievable ways like this!
  • Put your children on a budget, and don’t buy everything your children want either. This will teach them good money habits as they get older. If you do otherwise you’ll be sitting up your kids for ultimate failure.
  • Write absolutely everything you spend down, it absolutely helps you keep track of where your money goes. This kind of habit can also help you reign in unnecessary spending.
  • Stop eating out every week! Begin planning meals at home ahead of time, and do the prep at the beginning of the week so it keeps everything simple. This way you don’t have the excuse there is nothing for dinner!
  • Plan a weekly budget and stick to it. If you don’t allow for extra spending, then don’t spend. If you’re on a goal oriented plan, give yourself incentive to not be persuaded.

Senior Man Holding Canadian Paper Currency

Following these simple tips can help you learn how to stretch your Canadian dollars further and feel good doing so. As we’ve said before, it isn’t hard to save or put more of your money to good use when you have the right plan in place.

Life Saving Tips For Canadian Families Today

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Lots of money saving advice does require an individual or family to change their lifestyle to be successful. We’ve talked before that it takes commitment to succeed financially–period. The cost of raising children has certainly increased significantly, approximately 40% today. Even the most frugal Canadian families can struggle financially, with the best methods in place. It can be a constant struggle for sure. Remember, there are simple, easy things you can do to help relieve family stress and easy monthly finances.

We do talk about this an awful lot, but each month the goal is to give you new, impressionable ways to make ends meet, save money and feel fulfilled without feeling like you’re depriving yourself. No one wants to live to work or simply work to live, it’s not a happy circumstance. A balance is what today’s Canadian family needs. Just making tiny changes can save a budget that might have been floundering for a very long time. From extreme couponing to simply teaching your children those important life lessons, just always keep in mind that every little change is a step in the right direction.

Top 6 Money Saving Ideals for Canadian Families

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Change your spending habits like you change your mindset about exercise. Scientists are finding that it takes approximately 3 weeks for an individual to get accustomed to exercising regularly. If you adjust your spending habits and mindset about money in the same way you’ll possibly stick to your goals. Let’s examine some of the most favorable money saving tips for Canadian families. When times are tough people do complain about not having enough, but it’s all a matter of how you look at your finances. Let’s get right to these tips and hope these improve your odds today!

  • Do you enjoy Cross Border shopping?  If so you’ll save some money with this tactic.  When you live near the border this can benefit you the most and you can really save quite a bit. 
  • Make certain you create a standard budget, and no matter an income increase you stick to that budget. This will really allow you to see your money mount up fast.
  •  If your mortgage has gotten outrageous for you, and you’ve lived in your home long enough to build up equity–consider downsizing. This will put some money in your pocket and some money in your savings.
  • You can also save on travel and commuting if you really play your cards right.  If your car guzzles gas, think about switching to a more economical car, one with flex fuel. You can also consolidate on trips. Invest in a good quality used car to really get your moneys worth.
  • Don’t forget that you can save a tremendous amount when shopping for child daycare! Don’t jump on the first center, or individual. You can work out a deal and even save at tax time as well.