TRENDING  BASIC MONEY MANAGEMENT TIPS    

/consumer-education/

Budgeting

/consumer-education/

Budgeting

TRENDING  BASIC MONEY MANAGEMENT TIPS    

12.07.2021 / Budgeting

Basic Money Management Tips
Get organized! Paying your bills on time will help you avoid late fees and penalty charges. Create a list of your current bills. Print a month-long calendar and record the due date of each bill. Make bill paying easier by filing your bills by the due date. Prioritize your debt. Decide if you…

11.19.2021 / Budgeting

How to Track Your Household Budget
A budget is a financial plan that estimates income and spending over a specific period of time. Using a budget will help you to live within your means by planning your spending and savings. When you track your expenses and create a household budget, you are taking an important first step towards…

11.10.2021 / Budgeting

How to Vacation on a Budget
Don’t Let Spending Ruin the Trip  Who doesn’t love to dream and indulge in the travel brochure that talks about cutting loose and living large? With that said, money concerns should never ruin a vacation. It is possible to vacation on a budget, with just a little thought and preplanning.    Set…

11.01.2021 / Budgeting

When Should You Adjust Your Personal Budget?
Don’t Set It and Forget It  Going a long time without a budget can be a huge mistake and getting it back on track can be a grueling process.  Budgets are important, but they need to be accurate, and it can take several revisions to get it just right.  Life happens, sometimes for the better,…

11.01.2021 / Budgeting

What Items Are Best to Cut from Your Budget in Tough Times?
Adjustable and Realistic Budgets Finishing a budget can feel like a monumental achievement, but it can’t just be left alone.  A solid budget needs to be constantly tweaked and adjusted, especially when times get tough.  If someone in the household loses a job, if clients dry up, or if sudden…

12.07.2021 / Budgeting

Basic Money Management Tips

Get organized! Paying your bills on time will help you avoid late fees and penalty charges. Create a list of your current bills. Print a month-long calendar and record the due date of each bill. Make bill paying easier by filing your bills by the due date. Prioritize your debt. Decide if you…

11.19.2021 / Budgeting

How to Track Your Household Budget

A budget is a financial plan that estimates income and spending over a specific period of time. Using a budget will help you to live within your means by planning your spending and savings. When you track your expenses and create a household budget, you are taking an important first step towards…

11.10.2021 / Budgeting

How to Vacation on a Budget

Don’t Let Spending Ruin the Trip  Who doesn’t love to dream and indulge in the travel brochure that talks about cutting loose and living large? With that said, money concerns should never ruin a vacation. It is possible to vacation on a budget, with just a little thought and preplanning.    Set…

11.01.2021 / Budgeting

When Should You Adjust Your Personal Budget?

Don’t Set It and Forget It  Going a long time without a budget can be a huge mistake and getting it back on track can be a grueling process.  Budgets are important, but they need to be accurate, and it can take several revisions to get it just right.  Life happens, sometimes for the better,…

11.01.2021 / Budgeting

What Items Are Best to Cut from Your Budget in Tough Times?

Adjustable and Realistic Budgets Finishing a budget can feel like a monumental achievement, but it can’t just be left alone.  A solid budget needs to be constantly tweaked and adjusted, especially when times get tough.  If someone in the household loses a job, if clients dry up, or if sudden…

10.15.2021 / Budgeting

5 Inexpensive Home Renovations that Add Value to a Home 

Strategic Improvements  The Do It Yourself craze has officially swept the world, and more and more people are itching to make renovations, additions and improvements to their homes.  But many are finding that once their updates are made, they have a hard time re-selling the house.  While passion…

10.15.2021 / Budgeting

5 Factors that Prevent Debt Payoff

The Battle to Eliminate Debt  Debt can go from an inconvenience to a disaster if left unmanaged.  And even once the struggle has begun to eliminate personal debt, it can feel like a futile endeavor.  Some things just get in the way.  Here are a few things to look out for when trying to be diligent…

10.07.2021 / Budgeting

5 Small Ways to Save Money

  The Quest for More Money It doesn’t matter how much money is made, there never seems to be enough. Even after a great raise or new position, the excitement only lasts long enough for a recipient to adjust to a new lifestyle. Then, ending up with the same small amount left in the bank account. …

10.01.2021 / Budgeting

3 Easy Steps to Creating a Simple Budget

Why Create a Budget? For those who have ever been afraid to pull up a bank statement because of yet another overdraft, a budget is desperately needed. Really, every household needs a way to keep track of spending; but a budget is a necessary part of life that not only gives households a complete…

09.28.2021 / Budgeting

How Much Should You Save Every Month?

Saving is Important  Almost every child had a little piggy bank and was reminded to save their coins while growing up.  It may have even been fun adding to the little savings account for a piece of candy or another small treat.  Now, as adults, the years have added a little wisdom to our lives.  …

09.27.2021 / Budgeting

5 Important Key Categories in Every Budget

The Importance of a Budget  Budgeting is not typically something people enjoy as it can be tedious and time consuming.  However, the purpose of budgeting is to identify the money that is coming and going, minimizing stress and unnecessary worry.  Once you get into the habit, it doesn’t take very…

08.25.2021 / Budgeting

Save Money on Your Produce Bill

The healthiest items for sale at the grocery are located around the store's perimeter. This is the location of the meat, dairy, fruits, and vegetables, but studies indicate that most people spend 80% of their shopping on the inner aisles, and the biggest reason is the cost. All those vegetables and…

08.13.2021 / Budgeting

3 Reasons to Ditch Your Budget (for a Better Option)

Budgeting is a necessary part of a healthy financial life for many. However, if you go about it the wrong way, your budget can actually cause more problems than it solves.   If you have been struggling to stick to the budget you have created, it's time to look at the underlying reasons that it isn…

08.09.2021 / Budgeting

Budgeting for Beginners

Making a budget to follow can seem like a scary task to undertake. Many people associate budgeting with restrictions. It doesn't have to be this way!  Think of your budget as the way that you are creating freedom and financial prosperity for yourself. Focus on the positive qualities and you will…

08.02.2021 / Budgeting

Deciphering Which Budget Method Fits Your Lifestyle Best

You may already know that it’s critically important for your financial health to have a detailed budget, but did you know there are different approaches you could try? If your current approach just doesn’t seem to suit you, switching to a different way of budgeting could help you get motivated to…

07.29.2021 / Budgeting

Can’t Pay Your Bills? Here Are Some Things You Can Do

Do you ever find yourself in a situation where the money left over in your bank account at the end of the month doesn’t seem like enough to cover your essential expenses? Figuring out what to do when you can't cover your bills can stressful and challenging. Fortunately, if this happens to you there…

07.29.2021 / Budgeting

Budgeting Tips for Single-Income Households

Operating on a single income can make budgeting trickier for any household. Whether you live alone, you're a single parent, or you and your partner have decided to live off of just one income, single-income household finances can be a little tighter and may require extra planning. However, with…

07.27.2021 / Budgeting

Break the Cycle of Living Paycheque to Paycheque

Do you ever find yourself struggling to cover expenses towards the end of the month and anxiously awaiting the deposit of your next paycheque? If so, you're far from alone. By some accounts, more than half of all Canadians live paycheque to paycheque. Constantly stretching every penny and worrying…

07.09.2021 / Budgeting

You Can Afford a Summer Vacation!

If you're considering whether you can afford to take a vacation this summer, the answer is a resounding "yes!" In fact, if your company offers paid time off, you really can't afford not to. Studies have linked travel to higher energy and increased levels of empathy, focus, and attention. Even the…

07.06.2021 / Budgeting

Money-Saving Tips for Cooking

Do you love to cook but hate to waste money? Learning to cook meals at home is not only a great hobby but can even prove beneficial to your health! However, if you want it to be beneficial to your wallet as well, you might need to do a little planning. Fortunately, you can easily save a little cash…

07.06.2021 / Budgeting

How to Budget for an Expensive Purchase

Do you have your eye on an expensive purchase but don't want to break the bank with a sudden splurge? Expensive purchases can feel daunting to save for, but you can make them in a responsible way with enough planning. When it comes to major purchases, such as a family vacation, a brand-new car, or…

07.01.2021 / Budgeting

How Much Money Can You Save by Adjusting Your Thermostat?

Do you shudder when you receive your energy bill each month? The cost of heating and cooling your home can be prohibitive. There are, however, some effective ways to cut down on this cost by adjusting your thermostat and becoming more aware of the reason behind the cost.  Get a solid understanding…

06.30.2021 / Budgeting

How Much Can Generic Brand Items Save You at the Grocery Store?

Your grocery bill can quickly eat up a serious chunk of your monthly budget. Canadian grocery bills have gone up significantly in recent years, especially in certain parts of the country, and many Canadians feel the squeeze. However, if you currently purchase name-brand items, there's an easy trick…

06.29.2021 / Budgeting

Essential Budgeting Tips to Teach Your Kids

No matter how young your kids are, it’s never too soon to begin teaching them the basics of budgeting! Learning essential budgeting skills from an early age is a critical component in the development of financial maturity. Start by weaving these important life lessons into everyday activities! …

06.29.2021 / Budgeting

Gas-Saving Tips for Road Trips

Are you excited about your upcoming road trip but worried that all the gas bills will start to stack up? Although road trips can involve several expenses and may even become pricey if you overspend, it is possible to save gas – and money – by planning ahead of time. Here’s how you can save on your…

06.28.2021 / Budgeting

Saving for Mid-Term and Long-Term Financial Goals

You might already know about the numerous essential reasons to save money regularly, but you might be wondering how you can target goals that you don't plan to reach for quite some time. Whether this means remodeling your house within the next four years or retiring within the next forty, making a…

06.28.2021 / Budgeting

5 Things You Can Stop Buying

Do you ever feel like you’re overspending on everyday items? While you might not be able to avoid some purchases, others might be causing you to waste money without even realizing it. If you’re hoping to trim down your expenses and start saving a little more cash, here are five things you can stop…

06.28.2021 / Budgeting

Tips for Self-Care on a Budget

On a tight budget but still want to find ways to look after yourself? Just because you have a limited amount of cash to splurge on self-care doesn’t mean caring for your own well-being isn't important. Although you might typically associate the term "self-care" with luxurious trips to the spa,…

06.24.2021 / Budgeting

Vacationing on a Budget

Hoping to jet off on vacation with family and friends soon, but concerned your dollars won’t stretch far enough? Even though vacations are supposed to be a time for relaxation , they can quickly become a burden on the wallet if you aren’t careful. The good news is  vacations don’t have to be overly…

06.11.2021 / Budgeting

Money Goals to Set (And Meet) in Your 30s

Your 30s are a unique financial time: while you may still feel like a 20-something or a carefree university student, many adult milestones, such as having a family or purchasing a home, may be on the horizon. Additionally, if you aren’t already planning for your retirement, it is time to think …

06.10.2021 / Budgeting

Short-Term Savings Goals

Whether you have a big purchase coming up or just want to quickly pad your savings account, there are several ways you can reach your short-term savings goals. Putting away money regularly is essential for your long-term financial health, but focusing on saving in the short term can be a great way…

06.08.2021 / Budgeting

Avoid Unnecessary Purchases to Save Money

Do you ever find yourself reviewing your credit card bill at the end of the month and wondering why you spent so much on items that, in hindsight, you don’t really need? Unfortunately, many consumers find themselves in this position – it’s common to make spur-of-the-moment purchases or to justify…

06.08.2021 / Budgeting

Money Saving Challenges for 2021

If one of your 2021 New Year’s resolutions was to save more money, you might be wondering how to meet that goal. While there are many practical ways to save money, such as setting aside the same amount every week, one of the best-kept secrets of saving money is that you may be more likely to meet…

06.08.2021 / Budgeting

A Guide to Saving Money

You've probably heard about how important it is to put money away for the future. You may have even thought about increasing the amount you save every month, but did you know there are several other important components to saving money? The types of accounts you use and the benefits they provide …

06.08.2021 / Budgeting

Financial Goals for Your 40s and 50s

Are you currently in middle age and already looking forward to planning your golden years? Before you can retire from work and live the financially free life you've always dreamed of, you'll have to do some careful financial planning and saving. If you're currently in your 40s or 50s, you're…

06.08.2021 / Budgeting

A Guide to Bank Accounts

Your accountant or financial advisor may have told you about the importance of having your own bank account, but do you know all the ins and outs of these common financial accounts? Personal bank accounts have several benefits, from providing a safe place to put away money to potentially helping…

06.08.2021 / Budgeting

Money Lessons from the COVID-19 Era

Since the start of the COVID-19 pandemic, many Canadians have changed their spending habits. The COVID era ushered in a heightened sense of financial awareness and, oftentimes, an abundance of caution in terms of ensuring every purchase is truly worthwhile. Even after the pandemic passes, there are…

03.04.2021 / Budgeting

How to Consistently Save Money for the Long Term

Having enough cash to cover your expenses today is one thing, but building up a true savings cushion to support you in the long term is another. If you’ve wanted to start your nest egg but find it difficult or maybe even daunting to think about putting away money today to use down the road, there…

01.13.2021 / Budgeting

Financial Tips for Millennials: Estate Planning

For those under the age of 40, planning an estate may seem like a far-off matter. However, all adults, regardless of age, need to have a plan in place for what will happen after they eventually pass. While many who draft an estate, plan are already heading towards the golden years, Millennials can…

12.02.2020 / Budgeting

An Introduction to the 30-Day Savings Rule

Saving money might not seem easy but having a detailed plan and a set timeframe in mind can help. If thinking in terms of years or even decades seems impossible or intimidating, there’s an easy trick you can use to start saving right away, in bite-sized, manageable chunks. This is called the 30-day…

11.11.2020 / Budgeting

Tips for Creating a Budget With Your Spouse

You love your spouse, and that means you'll do everything you can to keep your married life happy and healthy. Though many people immediately assume they're supposed to focus on the romantic aspect of their relationship, it's not the only aspect that needs your attention. In fact, your finances can…

11.05.2020 / Budgeting

Top Debt Consolidation Options

Managing your daily finances can be a struggle, especially when you have a substantial amount of debt. Though some debt with a home mortgage or vehicle loan is expected during a lifetime, credit cards, student loans, medical bills, or other financial responsibilities can be draining. For many, the…

11.02.2020 / Budgeting

How College Students Can Better Manage Their Money

As a college student, you have the unique opportunity to develop good money habits that many adults never learn, ones that will set your financial path for a lifetime. By following five principles to govern your finances, you will not only avoid costly money mistakes that can plague you for years,…

10.26.2020 / Budgeting

Money Saving Tips for Your 20s

Each phase of life has its challenges and rewards. While you are in your 20s, you have the unique opportunity to put into place money management practices that will make your entire life more successful and enjoyable. Spend less, save more, and get out of debt. Start in small significant ways and…

10.13.2020 / Budgeting

Boosting Your Retirement Fund

Two common regrets among retirees are not saving enough money for retirement or starting to save late in life. Ideally, you want to begin saving with your first paycheck and grow those investments throughout your career, so you have a nice nest egg when you retire. For one reason or another, not…

10.09.2020 / Budgeting

Manageable Steps to Pay Off Credit Cards

Credit cards can be invaluable tools for building a strong credit profile and achieving your long-term goals. However, when used irresponsibly, they can be just the opposite. Credit card debt is expensive, and the more you wrack up, the more difficult it becomes to pay down.  Credit cards often…

10.06.2020 / Budgeting

Differentiating Wants Vs. Needs in Budgeting

A primary benefit of budgeting is the ability to manage your cash flow and make your money do what you want. Once you have a solid budget in place, you get a better idea of where your money is going and whether it's working for you. However, budgeting is not a one-time exercise. You track your…

09.23.2020 / Budgeting

Rebuilding Your Savings Post COVID-19

The COVID-19 pandemic has upended economies all over the world. If you were one of the millions of people who had to dip into their emergency funds to make ends meet, you're probably wondering what financial steps to take next. Should you rebuild savings, or should you focus on paying off debt? The…

09.14.2020 / Budgeting

Pandemic Panic - Debt-Relief Options

Everyone who felt burdened by debt has considered debt relief options at least once. It is only natural to wonder if the many ads promising you an instant solution to your problem could prove true. Unfortunately, the solution is not always instant, and, in some cases, it can make your financial…

09.01.2020 / Budgeting

3 Tips for Budgeting During a Crisis

If your job has been put on pause due to the COVID-19 pandemic, or if you have suddenly found yourself unemployed, you might be reluctant to look at your budget. Don’t hide from your money: You have more control than you think! When you are faced with a crisis, there are ways to reorganize your…

08.24.2020 / Budgeting

Budgeting Tools to Manage Your Spending

Managing your spending is the foundation of personal finance. If you spend more than you earn or spend too much on things that are not priorities for you, then your financial situation will never be in line with your goals. For many people, the idea of creating a budget, and sticking to it, seems…

08.20.2020 / Budgeting

How Much Money Should You Save Each Month?

Saving for the future is something that everyone should do, but the reality is that sometimes it's hard to find room in the budget for savings. If you find that all your money is gone the day after payday, with nothing left to put aside for the future, you're not alone. When you're trying to build…

08.18.2020 / Budgeting

Getting the Most Out of Your Crisis Budget

Creating a crisis budget helps you weather the storm when something unexpected happens. Whether you're in the middle of an emergency now or are planning for the future, a crisis budget is your action plan for getting through to the other side.  Calculate Your Bare Minimum Expenses  The first step…

08.14.2020 / Budgeting

10 Commandments of Budgeting

The best budget is the one you'll stick to. Remember that, and don't get too bogged down, deciding which app, software, or unique stationery to use. Just dive in headfirst and make adjustments as you go. No matter what method you choose, there are a few foundational principles that will help you…

08.04.2020 / Budgeting

Save vs. Splurge: When to Do Both

Conflicting Impulses  Having money complicates life.  When all the bills are paid, and the important things are taken care of, there is sometimes a little leftover.  What to do with that little surplus turns into an agonizing decision.    On the one hand, good old-fashioned wisdom says to save it…

07.31.2020 / Budgeting

Reduce Debt with These 10 Steps 

It is easy to justify debt in the moment, but there comes a point when it has become a shackle.  Carrying a lot of debt is never a good idea, especially in a crisis.  Here are some ways to get rid of that burden.     Stop Accumulating Debt  First, stop the bleeding.  From this moment forward, do…

07.22.2020 / Budgeting

Tips for Buying a Used Car

New cars are flashy and exciting, but they lose value quickly – too quickly to justify the purchase in most cases.  Used cars are often in great shape, with sound construction and just a few extra miles.  When buying used, the process can be a little different, especially when buying from a private…

07.20.2020 / Budgeting

Is the 50/30/20 Rule for You

The Need for a Budget  Creating a personal budget is indispensable for managing money properly.  If the money is being spent without any planning or tracking, the financial situation is always a mystery.  This leads to stress and opens the potential for experiencing a financial catastrophe.  But…

07.15.2020 / Budgeting

How-To Guide: Determining if You Can Afford a Big Purchase

Making a big purchase can be an intimidating prospect.  Cars, houses, boats, college degrees, these things add up and most are essential, but not everyone is wealthy.  So, if a check needs to be written for a larger amount than you’re used to, this article will help to determine if now is the right…

07.13.2020 / Budgeting

Having a Baby? Here’s How to Financially Plan

Getting the Wallet Ready for the Baby  If there is ever a time when financial planning is exciting and imperative, it is when a baby is about to arrive.  Instead of making a plan to get rid of creditors, plan for a new life with a new bundle of joy.  Here are a few key items to take care of before…

07.10.2020 / Budgeting

6 Major Budgeting Mistakes to Avoid

Budgeting is an essential part of managing one’s money.  Without it, money is being spent with no plan for where it needs to go, and a crisis is inevitable.  Having a bad budget is better than having no budget at all, but there is no reason to choose between the two.  Here are a few common mistakes…

07.07.2020 / Budgeting

6 Easy Money-Saving Tips for Big Families

Big Family, Not-So-Big Budget  When a family grows, the budget might not grow along with it.  Some people might see this as a problem, but some folks are willing to sacrifice in the financial department and invest more heavily in the family department!  That said, it can still be difficult to make…

07.07.2020 / Budgeting

Budgeting Emergency Fund vs. Savings

Savings or Emergency Fund?  Saving seems like a straightforward concept.  But that term encompasses so many specific ideas within it, and all of them seem important.    The emergency fund is always a common recommendation, but does it differ from a regular savings plan?  The short answer is yes,…

06.15.2020 / Budgeting

Smart Money Moves to Manage a COVID-19 Recession

Many Canadians are concerned about how they will pay bills as the COVID-19 pandemic continues and recession takes hold. Good decisions are the key to weathering this financial storm. It is important to make smart money moves by examining your budget and seeing where you can make critical cuts in…

06.10.2020 / Budgeting

Establishing an Emergency Budget During the Coronavirus

Since reaching pandemic status, COVID-19 has proven to be a major threat to the health and safety of all Canadians. In addition to jeopardizing Canadians’ health, though, the virus has wreaked havoc on many individuals’ finances. The government’s economic response plan outlines details of support…

05.22.2020 / Budgeting

4 Necessary Tips for Budgeting the Perfect Wedding

Party Responsibly The average wedding today costs around $35,000.  To put that into perspective, that’s about the cost of a new car.  But even if a couple is fortunate enough to afford it, all weddings tend  to cost more than anticipated or planned.  It is possible to keep a wedding at or under…