O ver the past few years, several parents complained to me about their children drifting from values and principles they taught them. Statements like: How can my child stop going to church and Bible study? Why are they drinking alcohol? How have they become so liberal? Where did I go wrong? As a grandfather, father […]
Tag: household spending
Household spending in Canada is too high
COVID-19 Personal Finances Effects in Canada Could Be Harsh Despite Government Help
Effects of COVID-19 on Canadians’ personal finances could be severe. But now might be opportune to make tough decisions to reset crucial lifestyle choices that led to massive debt build-up since the Great Recession. The federal government stepped up and is providing relief to workers and businesses to cushion the impact of job and income […]
Budgeting Like Dieting Doesn’t Work, Here is an Alternative
Budgeting, like dieting, doesn’t work because folks don’t embed it in their lifestyles. It’s a chore a finance person recommends. Can we achieve budgeting’s goals a better way? People save leftovers after spending. Is there another path? Take Warren Buffett’s advice, “Do not save what is left after spending; instead, spend what is left after saving.” The […]
Household Indebtedness in Canada Climbing To New Heights
Why are Canadians acquiring so much debt and ignoring lessons from the USA’s sub prime debacle? Cheap, easy money is addictive! Besides, history would suggest that when housing prices fall and interest rates rise many people will have no problem using the victim card and blaming financial institutions, businesses, the one percent … everyone, but themselves. Still, there is hope to avoid the inevitable meltdown.
Do You Know Your Spending Profile?
Do you know your spending profile? If you don’t, probably you haven’t seen funds trickling out. Almost everyone I know who tracked their expenses for at least a month found they could change spending habits and reduce monthly outlays — some by more than 20%.
3-Spending Guidelines For Financial-Stress Freedom
Consumers continue to fall deeper in debt, while merchants contrive clever schemes to get them spending more. Without a solid offensive plan against merchants, consumers will fall prey to stores’ conniving tricks. Here are three things you can do to defeat merchants…
Getting Out Of Debt Journey Continues with Envelope Budgeting
After surrendering your financial debt burden to the Lord and developing a zero-based budget, you are ready to start living in that budget. Envelope budgeting is your ideal complementary tool to prevent more debt.
Budgeting is Looking Beyond Emergencies To The Small Stuff
People drift gradually in debt by working without a budget and ignoring small expenses. If you decide to change your behaviour that cause several small expenses, you will spend less, and your financial position will improve.
Key Benefits from Three Budget Stages
Albeit you cannot predict the result, the immense learning you get during these three budget phases, should convict you to work with a budget: preparation, probabilities, and the execution. The issue is not whether you will get the correct result by working with a budget. It is defining realistic assumptions and goals in advance, and adjusting your behavior as you progress to them.
10 Reasons Consumer Debt Won’t Go Away
Like the rest of society, Christians continue to accumulate debt to buy stuff to satisfy various wants. The Bible provides key passages that each of us need to heed. Daily we should recall Luke 12:15 (NIV).