You may ask what these have in common? Even if you didn’t watch any of the games, you may have heard that they achieved their goal of qualifying for the summer Olympics.

Even though they didn’t win or score against the US team, they competed in the tournament with a disciplined focus on their objective. Because they didn’t qualify for the Beijing Olympics, this prize was especially dear to them.

Keeping up with the Jones’ might seem like a good idea and something you want to do but it may not be the best plan for you. You never truly know what money goes in and out of someone else’s household – you can only manage your own finances effectively by setting goals that align with your values.

The US team is paid to play, have the benefit of extensive team support and sponsorships. This may seem like an impossible machine to play against so it’s important to put it in perspective. Can’t wait to watch you at the Olympics ladies!

Last post outlined our family case study. What should Mr & Mrs B do?

Their concerns about a large amount of mortgage debt, retirement and lack of confidence with respect to the day to day finances are very common and can add a great deal of stress to a household or relationship. It seems their priorities are:

1. Get a handle on day to day household money
2. Develop a future plan (retirement, education etc.)
3. Contingency planning

Read more »

It seems that there’s a lot more in and out transactions to keep on top of in a family situation. More people = more responsibilities and keeping track of them all on a month to month basis is no easy feat! What about planning for the future? Does it often get put off until next year? With child care costs and taking a moment to relax after the holiday season, it is easily put off.

Let’s take a look at the following family:

Mr & Mrs ‘B’ live in Vancouver with their 2 children, one turning 5 and the other age 7. Because they both work it’s a scramble week to week to keep the calendar straight, meals on the table and lunches in back packs. Read more »

What should Betty do? Her concerns are quite clear. What can she do to increase her confidence with respect to her finances?

The first step is to take a look at past patterns. How much does she make each month (after tax) and how does spend it? Does her income cover her expenses? This is a relatively quick exercise to complete because the information is available.

Tip: Use an average of several months spending (i.e. average spent on groceries each month is $200) Read more »

I opened our mail today and it was full of bills! It’s that time of year when the holiday spending catches up with us. Income tax preparation and RSP marketing are in full swing. What to do?

Betty has been back at work for a couple weeks and is feeling the pressure to start the new year with a budget.

“Get your financial house in order!” she keeps telling herself. You’re 28 and still don’t know where your money goes and there is never enough at the end of the month. The student loan is taking forever to pay off and the credit cards keep creeping back up. Retirement? How much do I need and how do I do it? These are regular conversations she has with herself. What to do? Read more »

2012 Post #1 was about deciding what you want and Post #2 was about knowing what you spend and your current financial condition. Post #3 will give you some ideas on how to make it happen.

1. Set a budget – it’s easier than you think
2. Integrate your goals
3. Set up a system to achieve your goals
4. Monitor how you’re doing

Read more »

Part 1 of Ringing in the New Year with a Fresh Financial Plan was about deciding what you wanted, in what order and what it would cost.

Part 2 focuses on using your past to reset the path for your future. It won’t take long!

Gather whatever information you have:

• Bank statements
• Pay stub
• Credit card bills (with the detail)
• Loan or mortgage information

Now take a few moments to synthesize it into 1 page by listing: Read more »

2012 has begun. Are you ringing in the new year with a solid plan? It doesn’t have to be complicated. Keep it simple and make it yours. 3 easy steps:

1. Decide what you want.
2. Take a look at the past.
3. Plan the future

This post will address #1.

a) State 3 goals and prioritize them.
b) When do you want to achieve each one? 6 months, 1 year, 2 years, 5 years or 25 years.
c) What will each one cost? Do a little research and make it real.

Tip: Choose goals that align with your lifestyle and values. They don’t have to be all about money!

A fabulous start. The next post will describe how to use information you have to make a plan for the future.

As we approach the holidays, we’re getting excited to see family and take a break from the daily routine. Time out from work and some fun and relaxation are in our plan. We’ve become more efficient at preparing for the holidays although we start earlier. Two small kids and full schedules means we can’t leave it to the last minute!

I think we’ve ticked off the main things on our list:

• Holiday treats
• Gifts for the kids
• Donation to the Food Bank
• Cards are in the mail

Now to enjoy! Next post will be about preparing for 2012. What are your financial plans?

Yummy appetizers are sometimes a meal in themselves. How to make them pleasing, tasty and healthy?

Here are 5 ideas that fit any budget:

• Heartwarming soup – brilliant on a cold day
• Humus and pita
• A selection of sliced meats and bread
• Fruit
• Dollar size pancakes with jam, syrup or shredded cheese

Easy to prepare beforehand….

Cheese, nuts, antipasto and other savoury treats are delicious and seasonal foods. There are many tempting treats available in shops this time of year!

To avoid a surprise at the check out, prepare your menu, a shopping list and a budget.