Savings

Hit the Refresh Button on Your Finances

If you are one of the many bloggers that worked to pay off your debt, then you know the sweet feeling that debt freedom can bring. Congrats by the way, for accomplishing an awesome life changing goal.

However, you might also realize that if you are not careful, old habits start creeping back. It might be using the credit card and not paying off the balance in full, not making monthly payments towards your savings (this is why pre-authorize monthly contributions are so important), tracking your spending or sticking to your budget. Whatever it may be, we all have our achilles.

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Grocery Challenge: Week 4 final update

This week marks the final week for my grocery challenge. As mentioned in my previous post, I decided to do something different for the final week of my grocery challenge. I would purchase at least 90% of my groceries online and document my experience.

Although I buy a lot of things online, groceries were not one of them, so I wanted to get a feel for the experience doing this and see if I should do this on a regular basis. Before I get to my finding, my grand total shopping bill for this week was $117.29. I managed to stay below the $140/week mark but not quite get to the $100/week goal without needing to reduce our food and nutritional choices.

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What My Tax Refund Says About My Spending Habits

Receiving windfall income and deciding what to do with the money can reveal a bit about our money personality, financial savviness and priorities in life. It can also address whether we are living within or beyond our means. If you are expecting a tax refund this year, here are a few questions that you can ask yourself:

How do I plan on using my tax refund this year?
Will what I decide to do with my tax refund increase my net worth, either by paying off debts or increasing my assets by saving/investing the money?
Will I use my tax refund to cover an immediate expense? How can I cover this expense another way in future years?
Do I have a fully funded emergency fund? If not, how do I plan to fund an unexpected expense?

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5 Financial Guidelines We Follow in 2017

As we became more intentional about how we spent our money, we came up with some financial guidelines this year that will ensure that we don’t find ourselves in a similar financial mess as in the past. These principles provide us with some framework when making family decisions about saving, spending and debt. As our family and income situation changes, we will develop a new set of guidelines to follow that help create healthy boundaries in our savings and spending habits.

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What to Consider When Moving to Pay off Debt and Save Money

In summer of 2012 I moved to Calgary, Alberta in search of better employment. As a recent graduate with a master’s degree, I found myself with a considerable amount of student loan debt. Originally from Ontario, I decided to move to a province I have never been before, had no family or friends to assist me and was not sure of what to expect. My friends were experiencing similar limitations competing with millions of other professionals in Ontario that have had years of experience before the economic recession in 2008/2009.

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