Why do I blog?

A couple of things happened over the last couple weeks that reminded me of why I started blogging about money, and why I CARE so much about being responsible with money.

I got asked about my blog, if I had any formal training in finances. My answer was "I wish." And I really, really do wish. Our conversation went on to a little about where we each were and how easy it is to feel like you've lost control of the reigns, and as a joke I got told maybe I could be brought in for a financing consult. I was floored, because just the other week, I made a confession to my husband, that this would be my dream job.

I would love to work with a family, and help them organize their financial paperwork and change some habits. Due to the no formal training thing, I know I'm not equipped to make a budget, or really even tell people what they should do with their money, but I can work a filing folder and a label maker with passion. Something as small as having a place in your house where you consistently sit, review your bank statements, pay bills, and file them can make a huge impact on your relationship with your money. That leads to me the other event that cemented in my mind why I blog.
We had an impromptu family gathering, and as the guys hid away downstairs and watched the hockey game (the Habs won) my sisters and I had a real, honest discussion about money. We talked about where we've faltered a little, and about how hard it is as a newly married couple to make good decisions about finances. We all had similair stories, we all had to learn. After discussing some failings, the conversation turned, and my sisters and I got to talk about how it gets better. We talked about things that work for our families, and that there really is hope, even if the thought of money has made you sick and kept you up at night. I walked away from that conversation so encouraged. I knew I wasn't alone.

That initation of the conversation, that is what I want to bring to my blogging. I want to make it ok to say, "Yeah, I've made some mistakes. I didn't do so hot at this or this." I want people to know that it can always be turned around, and that positive changes can be made. As scary as money can be, noone should feel alone, because most of us have been there before.

Facing the Music

The hard thing about being more responsible with finances, is that it really is hard. A lot of times I said, "I want to be better with my money," but I didn't want to actually WORK at it. I wanted to be better with my money, without changing a thing in my behaviour. Some of the changes that were hardest were the really little things too, the little habits that needed to be broken. But, those little habits, added up over time, ended up being pretty big changes in the end.
The painful/helpful ones were:

Leaving the plastic at home.
If I make a budget that means $5 a day for lunch, (or now that I work from home a snack or coffee date) I leave the debit/credit at home and take a five dollar bill. It's really hard to spend more than what it budgeted if you physically don't have it on you. This goes for mall trips too, if you take what you're going to spend, and just what you're going to spend, you always come home on budget.

Checking my balances daily.
I don't really do this anymore, but when I was first struggling to change my behaviour I went on to my internet banking everyday, and tracked exactly where my money went. I needed to make my spending about real numbers. It was so painful at first, looking at my Visa everyday, seeing exactly where the money was going to, seeing time after time that I spent more than I should've in black and white. Knowing that I would have to face the music when I got home was a good deterrent from spending spontaneously.

Making a schedule.
On the same day, around the same time every week, I get out our cash and spending money for the week. Making it part of the routine means that I am going to fill up my jars, and making sure that it's on the same day means I'm not tempted to withdraw our cash a few days early, and then struggle the next week to make it to the end of the week without getting to the end of the money. There are times I made exceptions of course, next week we're away, so I'm taking out our budget a day early so I have time to buy supplies to take on the road.

Full disclosure
This was particularly painful. Telling my spouse about times that I spent. Many times. Times I didn't want to admit it even to myself. This is another facing the music kind of change. If it's hard to justify to another person, do I really need it? And if I don't really need it, why am I buying it?

Making it fun
When we first got our jars I was a complete dork. I decorated them. I made the labels all pretty, and put them on display. It made me want to fill them up. It made me not want to empty them. I loved the sound of change being put into them after a weekly grocery shop. By celebrating the jars, I stuck to the jars.


Are there any hard/small changes you made, that benefitted the way your family budgeted?

Buying a House-Advice

That picture is of mine and Ted's very first place together. We learned a lot there, as newlyweds, how to run the house, how to work out disagreements, how you have to actually cancel a lease when it ends, it won't just end itself. :o)

I know the best way to learn sometimes is to ask questions of the people that have gone before me. Lots of questions. And ask, "What one thing would you change about your experience?" What would you spend more (or less) of your time on?"





Well, I'm asking anyone/everyone for advice, and their experiences when it comes to buying a house. Tell me a little bit of your story, brag about what you did right (or wrong), and what you'll repeat in the future!

House Shopping

In less than one week, we are leaving on our HHT (House Hunting Trip) to hopefully buy our very first house!

Being married to a saver, this is something we've been (im)patiently waiting for, and we've been making a lot of our financial decisions looking forward to this major purchase. I hope to update everyone as we're looking, we're so excited to take this big step!

Weekly Budget

A big reason we arrange our budget the way we do is because of the show “Til Debt do Us Part.” The show basically takes couples that have gotten themselves in tens of thousands of dollars of consumer debt, and gives them strategies to become debt-free. The host, Gail Vaz-Oxlade, equips couples with tools to manage their debt, and be well on their way to financial security. Our favourite of the tools that she gives, is a pre-determined “variable spending” budget in the form of jars.

Our jars are actually magnetic spice holders, because we have a shoebox sized kitchen, but the jars are in the categories of “Groceries,” “Transportation,” “Clothing/Gifts,” “Other” and our allowances. When the baby is a bit older we’ll introduce an “Entertainment” jar for things like trips to the movies and the zoo.

The point of the jars, and this is a big one, is not for SMARTER spending ( though your money will of course go farther if you spend wisely). The jars are to LIMIT YOUR SPENDING. If, there is a great deal on chicken for the week, and I want to stock up, I only have the flexibility of the cash I have on hand. There is no “dipping” into future jars (or else the dipping would just be ongoing and defeat the point of a budget.)

Gail’s personal website has a budget builder tool, which helps you in determining how much of your budget should be going into each jar, as well as savings and debt repayment. The rule of thumb is that no more than 25% of your income should be spent on life, and therefore supplying your jars.

For anyone that is big on visuals, or is really tempted to whip out plastic and then be shocked at the credit card bill at the end of the month (me,) this is such a great tool. It’s worth sitting down with a whole bunch of bills/paystubs/bank statements and taking the time to do the worksheet, because being informed is such a big part of taking control of your finances.

I'm back with a passion!

After months of wanting to come back to my blog for keeps, I am making a new committment. We have so many new things happening in our lives, and the two biggest changes of all have so much to do with our family finances: having a baby, and buying a house. I want to share the stuff we've learned, and most of all I want to hear from people about the tools they use, and the successes they have.

This week I'm going to blog about our weekly budget, and the system we've found that works for us, and where we found it. I'm also going to talk about house shopping, and the hard lesson I'm relearning daily: needs vs. wants.

I hope we can share some cool tips, experiences, and advice!
Happy blogging!

Too busy to blog!

My blogging took an abrupt break as of March 2009, which is when I found out I was expecting. Since then has been a whirlwind of pregnancy and motherhood, which is now in the 3rd week. It's awesome, and tiring, and rewarding all at the same time.

Since we discovered we were going to become parents we revamped our whole outlook on saving, budgeting, and spending, and I'm excited to share all the lessons we're learning.

Stay tunes!