Tag Archives: financial habits

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


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.

7 Reasons Why Your Budget Isn’t Working For You


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.

Planning and Budget Header

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 Pain-Free Ways You Can Save Money In 2016


Yes, certainly it can be difficult to save large sums of money for many families all across British Columbia, but smaller, more realistic goals are achievable.  In other words, families shouldn’t just throw in the towel and not save money, just because it feels, or appears to be futile.  Even small gains can go a long way!  Now, yes, it is also true that it is easier to talk about saving, rather than actually doing it.  However, most will find that once they establish a savings plan, it becomes a habitual act.  We all want to save for the future and some well-advised tips and strategies that are presented here just might make the approach to savings much more feasible.

Pain-Free Ways For Your 2016 Savings Plan

When you’re contemplating better ways to manage your money you really need to dig deep to reach the root of your issues. From your attitude to money to how well you get along on a budget and more–you really need to sit down and go over your portfolio thoroughly.  One example of really taking account of your finances would lie in asking yourself if you think you really need a financial adviser to help you get on track?  If you’re interested in investing, or you simply need tips on short-term and long-term financial goals, an adviser could be an asset.

Time to look at some top tips for your current and future financial goals!


Tip 1:  So, when do you really need some sound financial advice?

It’s simple.  When it comes to money and finding solutions regarding money, relevant tips and advice are always welcome. Whether a Canadian is interested in opening a savings account, or putting money into savings bonds–learning as much as possible about what will benefit the individual is important. Understanding what cash products will help you save the most, and which are the most risky is important!  In other words, financial advice is always going to be an asset if it is coming from the right place!

Tip 2:  Imagine learning how to budget on a low income

Don’t use the excuse of having a smaller income as a reason not to start building a nest egg.  Take the time to educate yourself and discover new ways you can break those financial barriers and start putting up for the future.  Here again, a financial adviser might be a helpful asset.  Start shopping smart, cutting excess costs, and be more honest with yourself!

Tip 3:  Take advantage of benefits your eligible for

Just an example of this is checking into the Interest Free Budgeting Loan from the Social Fund.  Many Canadians are unaware they meet eligibility requirements–partly because of a lack of research.  Benefits like these can make a dramatic difference for your financial future.  A budgeting loan can really be extremely beneficial to those on a lower income in that it can help with:

  • clothing and footwear
  • furniture needs
  • Employment education
  • Travelling expenses for work

These benefits can help a family manage their finances better when they are attempting to get a handle on their financial future!

Hispanic woman looking at change in glass jar

Tip 4:  Pay attention to borrowing and loan habits

If families are going to find some financial stability and save money the way they want to, they have to monitor their loan habits.  While payday loans can be good short-term options, too many become dependent on these.  The goal should be to steer away from these and not to rely on them to pay one’s bills.  So, again, if Canadians are to gain a handle on money, monitoring this area closely is critical.

Tip 5:  Make sure you are held accountable for your financial circumstances

Accountability is extremely important, especially when talking about saving.  If you’re accountable of your finances then you have to admit when you’re mismanaging your finances, or overspending in general. This is often the reason savings goals aren’t met like they should be.   So, be ready to point to yourself when, or if you miss your target savings goal!  It might motivate you to meet this and more the next time around!




Ready To STOP Living Paycheck To Paycheck?


Don’t fall into the statistics that currently show 61% of the workforce in and around British Columbia living paycheck to paycheck.  If you’re curious as to how you would know if you fit into this criteria, let us explain a bit better.  Clearly, if you’re finding that you’re running out of income before your next paycheck rolls in, you’re in the above mentioned margin.  This can become suffocating, but there are ways you can stop this endless cycle of stress and worry too.  If you want to lose the doom and gloom attitude you have to change your current lifestyle habits.

We do understand how it can feel.  If you are one of the many in Canada living paycheck to paycheck, we understand that getting out of debt can feel almost impossible, but as we mentioned, it really is not.  There are many Canadians who have broken free from this cycle and are now living a healthier, happier life.  You can too!  We’ve discussed getting a hold of finances before–but we felt it was more practical to discuss how you manage your money.

When you do live this way you’re very limited as to what you can and can’t do and what you can even mentally cope with. For instance, Canadian families who are trapped in this way can’t plan ahead.  There is no way to really plan for an emergency, or even think about planning for a vacation.  There is simply no time to enjoy living–period.  So, those who want change want to know, what is the solution?  The first step is understanding there is a problem that has to be fixed.  For many, this is the hardest step of them all.

It’s Time To Recognize The Problem And Work On The Solution

Payday image

So, you’re ready to try to break away from this chaotic lifestyle, but not sure where, or how you should start.  What steps do you need to take to start making life simpler–easier, and happier?  Just one of the first things an individual can do to begin changing and improving their life is shaving away excess expenses.  While you might think there is no where to cut back, you’ll be amazed to find savings hiding right under your nose!  Putting your nose to that grindstone will help you to begin seeing some light, it’s a fact!  Just because conventional wisdom illustrates everything gets more expensive over time is no reason to live in a trapped lifestyle!  The following tips will help you begin on the right financial road!

Tip 1:  Start paying bills right upon arrival

Delaying paying your bills on time increases fees, especially those late fees!  Why not save that money and pay on time?  If you begin budgeting and planning appropriately you can!  This should be a first step goal for those wanting to stop the vicious paycheck to paycheck cycle.


Tip 2:  Work together, with your significant other

Many couples today share accounts, and more often than not, one doesn’t know what the other is doing financially.  It is time to start working together to plan and save.  Go over your bills together.  Go over what budget you can both live with monthly.  Split your spending and stick to that spending budget.  Both people should always be held accountable!

Tip 3:  Educate and learn some basic skills

If you could learn some basic plumbing, carpentry, home improvement–imagine how much you could cut back and save! You wouldn’t have to forsake quality materials either, because you’d be cutting out that expensive middle man! It’s a smart decision and one you’d be glad to have!

Put a cap on non-essential spending

Just because you have the money available doesn’t mean you should waste it, does it?  Putting a cap on monthly spending can save a potential $200 a month for most!  If you don’t need it, don’t get it!  Most people are discovering they become dissatisfied with spur of the moment purchases.  Save the money for something more useful!

stop the cycle

Break the living paycheck to paycheck cycle and streamline your finances!  You’ll be far happier and far more healthier if you do so today!



10 Tips To Help You Avoid Mindless Spending


You don’t need your budget to be leaky like a faucet, because sooner, rather than later, you’ll run dry!  The only way to minimize risk like this is to develop a better relationship with your money so that you can save rather than mindlessly spend it.  Patching up your finances, where they need it the most can help salvage your financial future and build up a substantial savings over time.  Of course, it’s a step by step process–learning new strategies and developing improved spending habits. The 10 tips that will be shared with you here will ensure success and get you seeing your money in a different way.  You can stop living paycheck to paycheck and begin making a solid plan that will dramatically change your life for the better.

Stop Mindless Spending And Discover Conscious Spending

It’s amazing how fast those $5.00 cups of Joe really rack up at the end of the month, isn’t it?  Mindless spending is all too common in Canada,and across the globe for that matter.  Now, there is a thing called conscious spending and it would be perfect if everyone could have this type of mindset.  What this implies is that an individual is more than aware of where each and every one of their dollars go!  This not only helps with managing a budget, but it can help plan a financial forecast for an entire year!  There is no doubt about it, when you become conscious of just how much you might be wasting, it limits your wastefulness!  In other words, this makes you more accountable for your financial actions.

Those consumers who can develop an emotional attitude concerning money understand the value of it and are found to be far more thrifty than others who just spend, spend, spend…It’s easy to develop a new mindset and become more thoughtful and vigilant of where your hard earned money is going.  It’s time to stop just spending needlessly!  If you don’t need it then you probably don’t really want it.  The tips below will give you some ideas on where you might be spending without regard. You’ll find, cutting some of these expenses back will definitely be beneficial to your long-term finances!

Discover The Ways Your Wasting Money So You Can Save Money And Begin The New Year Right!


Tip 1:  Stop wasting energy!

Within Canada, and all across British Columbia, energy expenses are approximately 6% higher than the average US household.  This is due to wastefulness, but being more aware can begin helping you save a great deal.  For instance, making your home more energy efficient can bring about a huge savings.  Taking the right steps for improvement will put more money in your wallet or savings account!

Tip 2:  Stop grocery shopping without a well planned list!

Grocery expense has grown quite expensive through the years, but with proper planning ahead you can still save a great deal. You should never go to the store without a planned list and a week worth of meals planned out!  Also, avoiding those end caps will keep you from purchasing things you don’t need.

Tip 3:  Cut cable now to save money!

With streaming services available now, paying high prices for cable doesn’t make sense.  You can save up to 10% just by pulling the plug for cable network service.  Integrate the internet and utilize, Netflix and other networks that are normally just $10.00 a month versus $200 and up for cable service.

Tip 4:  Invest in a water filtration system.

Instead of paying exuberant amounts of money for bottled water every month, invest in a filtration system for your home. This is just as good as any bottled water and a great investment for years!

Tip 5:  Stop eating out every week.

Eating out weekly can add up fast and really ruin a budget or financial savings plan.  Plan and prepare healthy meals at home that will add convenience and save money.

Tip 6:  Avoid overdraft fees.

You can avoid overdraft fees by managing your money far better and keeping track of all your spending.  Writing your expenses down and knowing where you’re spending makes a difference.

Tip 7:  Avoid paying excessive bank fees.

Before you open a bank account, know the fees and rates you’ll be charged and offered, this can save aggravation in the future.

Tip 8:  Don’t ignore your credit report.

Attempting to establish a repayment plan to get out of debt and to secure a better future will save you far more money than ignoring collectors and allowing blemishes to continue to build against you.  It can be a scary thing to acknowledge your debt and become proactive can save you financial loss down the road.

Tip 9:  Shop around for affordable insurance.

Yes, we all need insurance, but you shouldn’t have to pay extremely high costs to secure this critical necessity.  Shop around and discover who can offer you the best rate at the most affordable costs.

Tip 10:  Stop impulsive shopping forever.

When you want to make a purchase, take your time and consider if you really need it.  If you allow yourself a couple of weeks to think it over, you might find you can live without it!  This doesn’t mean never shop, but simply be more conscious.  This is what it is all about, if you want to succeed financially!

Woman shopping