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A Canadian Couple On A Financial Journey Using A Budget

older | 1 | 2 | (Page 3)

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    DON’T GET LOST IN THE FRUSTRATIONS OF LOOKING FOR A NEW PLACE TO CALL HOME   Whether you’ve just landed a new job or you’re moving for school or personal reasons it’s important to know where to begin your property search. One of the hardest things about moving to a new city is not knowing the area which can be a struggle when your main goal is to find somewhere to live. I was the person who was frustrated even though I was already living in Canada and the city in which we currently reside. Thankfully I had Mrs. CBB to guide me but that still didn’t ease the stress of making the biggest purchase of our life. Although we weren’t sure if we were going to rent an apartment after moving out from our hole in the ground (the cave) after research and running numbers a property search for a house was our best option. You may be looking to rent a room, apartment, condo or buy a house in a new city so I’ve put together a few inspiring search options to get you started. First and foremost visiting the area you are hoping to move to will […]

    Author information

    Mr. CBB

    Mr. CBB was born and raised in the United Kingdom who then moved to Canada where he is a permanent resident. He recently became a father to a very busy toddler who allows him to be a kid at heart. He bought his first house at the age of 21 after University and his second at the age of 24. Both Mr.CBB and his wife are Debt and Mortgage Free and they did it all in under 5 years using a Budget. Canadian Budget Binder is a place where he shares their financial experiences with his readers and hopes to learn about theirs. Welcome to CBB!

    The post 9 Inspiring Property Search Options When Moving To A New City appeared first on Canadian Budget Binder.


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    EMOTIONALLY INVESTING IN YOUR HOME RENOVATIONS IF YOU PLAN TO MOVE WILL COST YOU MORE THAN YOU NEED TO SPEND.   Lately I’ve been quite impressed with the house prices in our area but at the same time know that if we sell the cost to renovate and buy weigh heavily on our minds. Not only that but the real estate market in Canada might be hot right now but if you have renovating to complete that might set you back with missed money opportunities. The top 3 questions next to time-frame that you need to answer before putting your house up for sale are; Should we renovate our home to get better return? How much will our renovation budget be? Do we want to upgrade or downsize buying a new house? On our street for 2017 we’ve had 5 houses up for sale all of which sold in and around a week or less.  That might sound impressive and it is because houses don’t last long living in the Greater Toronto Area (GTA). With no more than 100 houses on our street that’s a huge number of nosey neighbour radars going off. That’s us ^^^^, we admit it.   Who […]

    Author information

    Mr. CBB

    Mr. CBB was born and raised in the United Kingdom who then moved to Canada where he is a permanent resident. He recently became a father to a very busy toddler who allows him to be a kid at heart. He bought his first house at the age of 21 after University and his second at the age of 24. Both Mr.CBB and his wife are Debt and Mortgage Free and they did it all in under 5 years using a Budget. Canadian Budget Binder is a place where he shares their financial experiences with his readers and hopes to learn about theirs. Welcome to CBB!

    The post Should We Bother Renovating Before Selling Our Home? appeared first on Canadian Budget Binder.


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    YOU CAN NEGOTIATE ANYTHING AS LONG AS YOU KNOW HOW TO MAKE ALL THE RIGHT MOVES.   Dealing with a rent increase is one of those difficult negotiation situations that needs to be backed by top-notch negotiation skills. Whether you’re a new tenant, on the cusp of renewing your rental lease or you’ve been handed a yearly rent increase the ball is now in your negotiation court. The art of negotiation can be used in just about any situation even when someone says the price is firm. Even then if you have the right backing power you might be able to squeeze in a discount or in this case negotiating a rent increase that doesn’t fit with your current budget expenses. Rental prices in our area have gone through the roof in the last couple of years. If you are a family with 2 children and need to rent a 2 or 3 bedroom apartment you’ll be looking at near $1200-$2000 a month whether it be in a basement apartment, one level of a house or apartment complex. An apartment complex is typically run by a property management team and basement apartments and house rentals have landlords who own the […]

    Author information

    Mr. CBB

    Mr. CBB was born and raised in the United Kingdom who then moved to Canada where he is a permanent resident. He recently became a father to a very busy toddler who allows him to be a kid at heart. He bought his first house at the age of 21 after University and his second at the age of 24. Both Mr.CBB and his wife are Debt and Mortgage Free and they did it all in under 5 years using a Budget. Canadian Budget Binder is a place where he shares their financial experiences with his readers and hopes to learn about theirs. Welcome to CBB!

    The post A Guide To Help You Negotiate A Rent Increase (Sample Letter) appeared first on Canadian Budget Binder.


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    NOT ALL SALES ARE EQUAL ESPECIALLY WHEN SELLING YOUR BELONGINGS.   Whether you’ve lived in a house for one year or 25 years you will accumulate stuff that gets shoved away in a dark corner and collects dust. We all do it unless you’re an extreme minimalist which wouldn’t be so bad for some people who can’t stop shopping for stuff to fill up their home. It’s after you are ready to move house and de-clutter for your first moving sale that memories and things start popping up. Then you have to make decisions about these items and sometimes selling or donating memories can be the hardest thing to do. Two questions pop into my head when I find stuff I haven’t used, we haven’t used or won’t use; Did we spend our money to buy it? Should we sell it or donate it? If it wasn’t our money then we don’t have to worry about a loss because we didn’t fork out the cash for it. Do you sell the stuff or do you take it with you? This is a question you need to ask yourself or sit as a family and discuss before even beginning to think […]

    Author information

    Mr. CBB

    Mr. CBB was born and raised in the United Kingdom who then moved to Canada where he is a permanent resident. He recently became a father to a very busy toddler who allows him to be a kid at heart. He bought his first house at the age of 21 after University and his second at the age of 24. Both Mr.CBB and his wife are Debt and Mortgage Free and they did it all in under 5 years using a Budget. Canadian Budget Binder is a place where he shares their financial experiences with his readers and hopes to learn about theirs. Welcome to CBB!

    The post 5 Point Checklist For Hosting A Successful Moving Sale : The Saturday Weekend Review #233 appeared first on Canadian Budget Binder.


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    IT’S WORTH KNOWING THE INS AND OUTS OF YOUR MORTGAGE   It’s true and certainly something to always be mindful of, “It’s not about how much money you make, it’s how you save it.” When it comes to porting a mortgage in Canada, there are some things like interest rates that you need to factor into the equation, and we will cover these in detail in this article. Homeowners in Canada, and potential homeowners are faced with many important questions when it comes to mortgages. We are living through interesting times with respect to interest rates. The Fed is expected to raise rates further before the end of 2017, the Bank of England is clearly on a similar trajectory, and in time the European Central Bank will move away from quantitative easing towards quantitative tightening. What does this mean for mortgage holders around the world?   The Canadian Economic Scene   In Canada, the current bank rate is 1%. The BOC (Bank of Canada) decided to maintain the overnight rates when it met on Wednesday, 21 October 2017. The Bank of Canada forecasts that inflation will hit 2% by Q2 2018, later than economists projected. In 2017, real GDP grew […]

    Author information

    Mr. CBB

    Mr. CBB who was born and raised in the United Kingdom, moved to Canada where he is now a permanent resident. He is also a father to a very active 3 year old boy which keeps him young at heart.
    He bought his first house at the age of 21 in the UK after graduating University and his second at age 24. Mrs. CBB bought her first house at the age of 30. Both Mr.CBB and his wife are 40-ish year-old finance lovers who accomplished debt freedom before the age of 40. Canadian Budget Binder is a fun, family-friendly place where he shares their financial journey with his readers and hopes to learn about theirs. No silver-spoon just hard work and perseverance. Welcome to Canadian Budget Binder! You've got this!

    The post Everything You Need To Know About Porting A Mortgage In Canada: The Saturday Weekend Review #241 appeared first on Canadian Budget Binder.


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    LIVE LIKE YOU OWN THE HOUSE BEFORE YOU BUYING   Think about the above statement for a moment and ask yourself how that may have changed your past or current budget before buying your home. You may find that had you created a test budget before that purchase you may have noticed that you shouldn’t have spent so much. Typically you wouldn’t hear me say anything about using a test budget because a budget is a budget, however there are times when pretending to budget comes in handy. Forget about the word pretend for a moment and consider the reasons why you would want to prepare a test budget and how it would benefit you as a potential homeowner. Can I afford the house Can I afford the house Can I afford the house   Start Young Finish Free   I often like to believe that anyone who starts learning about finance from a young age will have basic knowledge to make financial decisions that may not impact their lives the way someone who did not. This is why I urge parents to teach themselves about finance FIRST and pass that knowledge on to their kids. Even then there are […]

    Author information

    Mr. CBB

    Mr. CBB who was born and raised in the United Kingdom, moved to Canada where he is now a permanent resident. He is also a father to a very active 3 year old boy which keeps him young at heart.
    He bought his first house at the age of 21 in the UK after graduating University and his second at age 24. Mrs. CBB bought her first house at the age of 30. Both Mr.CBB and his wife are 40-ish year-old finance lovers who accomplished debt freedom before the age of 40. Canadian Budget Binder is a fun, family-friendly place where he shares their financial journey with his readers and hopes to learn about theirs. No silver-spoon just hard work and perseverance. Welcome to Canadian Budget Binder! You've got this!

    The post How To Test Budget A Mortgage Before Buying A Home : The Saturday Weekend Review #250 appeared first on Canadian Budget Binder.


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    NEED TO KNOW BASICS BEFORE BUYING A RENTAL PROPERTY   So you’re ready to buy your first rental property. Maybe you’ve heard about all the money you can make just by buying a property, finding a tenant, and letting the cash roll in. Perhaps your parents had rental property and you know the money that can be made. Or maybe you’d like to buy a house with a basement suite and have someone help pay your mortgage. All these are great reasons to consider owning rental property.   Where to Start?  Evaluate Your Current Living Situation   Where are you living right now? Are you happy where you’re currently living? Do you want to live in the same building as your tenant by having a basement suite or one side of a duplex to rent out or would you prefer to live in a dwelling away from your tenants? Do you own your home or are you renting? Are you living in a house or an apartment condo?  If you live in a house, what do you like about living in a house? If you’re living in an apartment condo, what is it about condo living that really appeals to […]

    Author information

    Mr. CBB

    Mr. CBB who was born and raised in the United Kingdom, moved to Canada where he is now a permanent resident. He is also a father to a very active 3 year old boy which keeps him young at heart.
    He bought his first house at the age of 21 in the UK after graduating University and his second at age 24. Mrs. CBB bought her first house at the age of 30. Both Mr.CBB and his wife are 40-ish year-old finance lovers who accomplished debt freedom before the age of 40. Canadian Budget Binder is a fun, family-friendly place where he shares their financial journey with his readers and hopes to learn about theirs. No silver-spoon just hard work and perseverance. Welcome to Canadian Budget Binder! You've got this!

    The post Should Your First Rental Property Purchase Be A Condo Or A House? appeared first on Canadian Budget Binder.


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      GETTING INTO YOUR FIRST HOME MAY BE EASIER THAN YOU THINK   After my wife and I got married we decided that we would slash our spending and start tracking our expenses so we could save aggressively for a down-payment on a home for us. This wasn’t the birth of our budget rather we were spending less than we earned but we had no idea how much savings power we gave up going this route until the CBB Budget was created. Once we felt we were nearing our 20-25% down-payment goal that we wanted to have for a house priced around the $200,000-$300,000 price tag we started chatting with a real estate agent. Thankfully we have a friend who has been servicing our community as an agent for many years. Since I was new to Canada one of the questions that came up was whether we could participate in the RRSP Home Buyers Plan (HBP) in Canada for first time home buyers. It was clear that I had never purchased a home in Canada before but this wasn’t Mrs. CBB’s first rodeo in real estate. It was still worth looking into though. If the HBP means nothing to you […]

    The post The Home Buyers Plan Is Your Ticket To Home Ownership appeared first on Canadian Budget Binder.


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