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Money Goals for 2012? Resources to Help You Achieve Them

January 1, 2012 / Common Cents Mom / No comments

Are you like me and have some money resolutions or goals for 2012?

In 2010 I decided the only way for me to get a handle on my finances was to declare bankruptcy. I wrote about it as a guest series on Where Does All My Money Go. I could see no way out from that burden. Last year I cleared my bankruptcy. So what does that mean? It means I have a second chance but it also means rebuilding a basis for credit.

Three things are major money goals for me in 2012.

1. Get a credit card. I have been using a wonderful debit Mastercard from BMO for the last 2 years. I love it but I also think it is time to reestablish my credit worthiness so I will go after getting my first credit card this year.

2. I have NO emergency fund. This is a HUGE no no. I have learned anything can happen in a moment so I will make this my number one priority.I plan on having 5% of my annual income by the end of the year in this account.

3. I want to learn more about RRSP’s, mutual funds, TFSA, index investing and so much more. I need to round out my financial knowledge. I will have a plan in place to invest. I will start with just a small amount $100 a month. But that $100 a month can turn into much more by the time I retire. It is a start. I will also invest my GST, and tax returns starting this year into long-term savings.

So how am I going to find the $ to fund these when I have been living pay cheque to pay cheque? I had to go over my bills and figure out where I was overspending, what I could cut and make a dream board of what I really want. That will give me the incentive to stick to my plan.

There are also a number of great resources and tools I will be using to keep myself on track. I am also eliminating some very bad habits.

1. Opened an ING account, really they do offer the best interest rates and the lowest fees I can find right now. I decided to go with a tax free savings account to start me off. I will also have a separate fee free account for that emergency fund I am building.

2. Cut soda and Timmy runs. I realized I was spending over $50 a month on junk! Junk that I was taking into my body and since one of my goals is to create a healthier me this one is a no brainer. This $50 is going straight into long-term savings. Do you know if you smoke and quit you could literally save thousands?

3. Download @Shopcatch unto my smartphone so when I am looking to buy something I can find the best deal.

4. Continue to utilize sites like Wag Jag, and The Deal Pages to get good deals on things I need or for gifts.

5. Continue to use Mint.com for my budgeting. Years ago I worked for the parent company Intuit selling the software to small businesses

6. Continue tweeting and planning conversations on Twitter on important money topics. The #cdnmoney chat helps me to learn and grow.

7. Utilize the calculators found on the Financial Consumer Agency of Canada site. By using the calculators I can estimate investments, etc so I can better plan my future. This site has alot of great resources for Canadians and I recommend utilizing it.

8. I will read alot so I can learn more about money, investing and financial planning. I think I have the frugal lifestyle down pat, what I really need to know now is how to make my money work for me.

For me the resources and tools will help keep me on track as I plan for my financial goals.

May they help you as well.

Category: Opinion, Uncategorized / Tags: money, Resolutions

For 2012: 30 Canadian Money Blogs to Read to be Money Smart

December 29, 2011 / Common Cents Mom / 4 comments

Three years ago in 2009 I wrote a list of Canadian Bloggers that help you be money smart. Well that post is my most read post each and every year.It is also on the front page of Google when you search for Canadian money blogs or Canadian frugal blogs. With that said I decided since there have been many new entrants since I wrote this list in June 2009 I would list who I read now. These bloggers help me be money smart. I have learned from each of them. Each of them offers a different take. Some are investment bloggers, some deal with Mortgages, some are frugal bloggers, some know a great deal. All of them are worth reading and knowing. They say here in Canada, 2012 will be another hard year for many a Canadian family so I wanted you my reader to prepared by giving you a great list of bloggers who can help you chart your financial course.

These bloggers are shared in no particular order. Some are moms just like me, some work with money day in day out, some are bankers, some are investors, and all are money smart. If you are like me and always wanting to make the most of your dollar here is a list of great reads that will help with that:

1. Gail Vazoxlade- We all know Gail from her hit TV Show Princesses, but her blog gives us a regular dose of money medicine. I have been blessed to had dinner with Gail and a gang of other bloggers this year. Getting to know her a bit better has only made me want to read her blog more.

2. Sqwakfox-Kerry is one of those old time (meaning she has been blogging for years) personal finance bloggers. Her blog is on a number of best read lists. She is practical which is why I love her.

3. Marcy Berg -Marcy is a mortgage broker, and the owner of Mortgages for Women, I first met her in person, then started following her blog, she is smart and knows her stuff, and great woman to read.

4. Fabulously Broke in the City- is another older personal finance blog. She has gone from being broke to now have a net value of a cool $250,000 all in just a few years. She also lives simply and has another blog that talks about that.

5. Simply Frugal- Taya started her blog about the same time I started mine, so we are both almost 4 years old. She posts deals, money saving tips and even some great recipes.

6. Give Me Back My 5 Bucks. I love Krystal and her blog. She has been debt free since 2007. She also writes for Moneyville and you can even find her talking money quite frequently with me on the #cdmoney chat stream.

7. Where Does All My Money Go Preet is an investment guy. He knows his stuff and has even won a spot as The W Network’s money expert. He also let me guest post over on his blog last year so a good guy in my books.

8. Money Smarts- This blog used to be Four Pillars and then Mike started this one. Its focus is on personal finance with an emphasis on investing topics. Another long time blogger who knows his stuff.

9.Canadian Dream:Free at 45- Tim started this blog as he dreamed of retiring at 45. Well I am there now and no where near retiring. One can dream though, but this guy is showing how it can be done.

10. Ellen Roseman- is a columnist with the Toronto Star, and one of the writers on their Moneyville blog, as is Krystal. She has been writing about money for years.

11. Moneyville- The Toronto Star started this blog just over a year ago and it has some great writers who I have read all before they came to Moneyville.

12.Peter Aceto- as CEO of ING Direct, he is a voice in the banking industry that I read and listen too.

13. The Canadian Personal Finance Blog- Big Cajun Man has been blogging as well for years and simply put he talks about everything money. I love how personal he is in some of his posts.

14.Canadian Couch Potato-Dan is a journalist who knows investing. If you want to know about index investing this blog is a must read.

15. Retire Happy Blog-Jim has been talking and teaching money for 20 years. He offers money talk that is timeless.

16. Boomer and Echo is a fairly new find of mine. They are mother and son team who want we all want to retire knowing we can manage. Really I am enjoying discovering this new read to me.

17. The Asian Pear- Is a young woman I love to read, she writes about day to day what she is doing to save, and lives in a very practical way.

18. Bargainista- I love Eden. She doesn’t write a lot about money, but she does know how to find a great deal, and is actually very money smart as I can attest because I know her in real life now too.

19.Smart Canucks is another blog that helps you find a great deal, or freebie, for me it helps me to be frugal.

20. Canadian Mortgage Trends is a blog all about the Canadian Mortgage industry. If you need to know what is happening and how it can effect your mortgage this is a blog to follow.

21. Canadian Capitalist is a blogger with Moneysense. Ram has been writing about about money for years and is well worth reading, he truly knows Canadian money.

22. The Wealthy Boomer is a blogger and writer with The Financial Post. He is also an author of get this a a financial romance. That alone is reason to read what he writes.

23.Million Dollar Journey-also writes about investing, he is a young man on a journey and on the way he shares everything from best credit card to have in your wallet, to index investing.

24. Thicken My Wallet- This blog written by the president of an investment company offers much in the way of personal finance talk and investing.

25. Bank Nerd Need to know anything about banking, then this is the blog you want to be following.

26. Financial Uproar Nelson is young, just starting out, but I love his wit, and for a young man he is very smart.

27. Mrs. January is another frugal mom like me, who is trying to be money smart. She shares deals and some great practical posts on saving money.

28. Sustainable Personal Finance-this blog written by a couple shares the story of meeting money goals while being eco friendly and green.

29. Nickel by Nickel- Another new find of mine, an east coast gal who wants to keep track of her money nickel by nickel

30.Common Cents Mom- Of course I want you to come here and learn, and grow with me as I move forward. For me this blog will be about having real money conversations and sharing things that help me day to day, whether it be frugal, or finance I will continue to share my journey here.

And don’t forget you can connect with many a Canadian money blogger on Wednesday nights on Twitter 7-8pm EST for the #cdnmoney chat. Come and join the conversation and may you get the insights you need to be money smart.

Category: Money, Opinion / Tags: bloggers, blogs, frugal, Investing, money, Personal Finance

What Does the New Citizenship Policy Mean for Canada and Muslim Women?

December 14, 2011 / Common Cents Mom / 4 comments

Niqab © by sittiealiah

This week the Canadian government announced a new policy. No longer will the citizenship pledge taken by thousands here in Canada each and every year be administered to women who wear a face covering.

This means for women who are Muslim and wear the niqab or burqa they must choose to unveil or lose their chance at Canadian citizenship. What does this mean if they don’t unveil? It means they can NEVER become a Canadian citizen. They will not have the right to vote, to have a say in this democracy, they will not be able to hold some jobs. So because they choose their faith and the veil they will be relegated to second class status in this great land of ours.

As a woman I am outraged. As a Canadian woman even more so. Why?

Because our forefathers wanted a land that was welcoming, that could include all, that all points of view could be heard and seen. We established even a charter of rights and freedoms. It is my right as a woman to wear what I want as long as I am not indecent. I could swear citizenship in a bikini if I wanted too, but I can not dressed modestly and covered. I have the right as a Canadian to express my point of view, but these women will be forever denied that if they choose to cover. They will not have a say in our society, and it is NOT a male relative taking it away but our government.

Around the world there are many niqabi (women who cover and wear and veil) who hold great jobs and are great members of society. If you attend any mosque here in Toronto and are in the sisters area you can meet and talk with women who choose the veil. You would be surprised to find out some are born right here in Canada and see it as a deeper commitment to God. They don’t do it because they have too, or are forced here. Yes, in some parts of the world it is law but here they know they can choose it or lie it down. The veil is worn by these women because they are strong in faith and want to wear it, just like someone may say I am going to wear a habit because it is a symbol of my faith.

For those that say it is an identity issue I say Hogwash! A woman’s identity can be verified simply before taking the oath in a private room, where any woman I know would be glad to show her face to a female court officer. To say how can we know it is her is a moot point as many countries can tell who is who even covered.

By the way I can walk into a mall, and see a niqabi wearing friend of mine and know it is her. I can identity her in a crowd even of other sisters all wearing niqab. It is easy enough to do. identity is not the issue here.

What does that mean for Canada? What does this new policy really mean? If you are not like previous generations of Canadians you are not welcome here. Do as we do, say what we say, be like us, your ways are wrong, we want to empower you but you must do it this way to be empowered you can’t choose your way, you don’t have that expressive right. We are saying to these women because you are not already Canadian you have no charter rights, we do not have to give you them, and we can relegate you to second class member of society if you wish to wear that covering.

The policy is a huge step backwards in this land that is supposed to offer freedom and charter rights. We can no longer say ALL are welcome because as of Monday that is not the case. It is now you are welcome if you do what we say, and are just like us.

What can you do if you are like me and are thinking this policy is wrong? Write your MP. Call him or her and let them know your thoughts. Let me know your thoughts too, and yes I do care.

Category: Opinion, Uncategorized / Tags: canada, Citizenship, Muslim, veil

A Will Leaves You Prepared

November 15, 2011 / Common Cents Mom / No comments

Grave Stone in St Leonards Church Heston dated 1716 © by Maxwell Hamilton

Do you have a will?

Recently a few of my friends have suddenly lost a spouse. I was very thankful to here that they had things in order, and am very thankful for the statistic that shows most Canadians do have a will. Quite a few people think of a will as something to be scared of or something that needs to be done later in life. They are wrong because things do happen; situations that can leave a person incapacitated or worse. These are the types of situations that require a discussion of wills, trusts and estates.It is better to be prepared for a situation so that you are leaving your family taken care of.

What is a Will?
A will is a legal document that carries out a person’s last wishes. It is a typed or handwritten document that makes it clear your wants and desires after you have died. It means your wealth and assets are given out how you wish.

Wills have been around for hundreds of years. First used by the Ancient Romans and refined by the British, wills have been long used to bequeath estates to benefactors that are specifically chosen by the writer of the document. The have been used to fight against royalty, save families and have been known to save thousands of animals with well-meaning donations and bequests.

Why Have a Will?
Creating a will is one of the most important things a person can do in their lives! The sooner you do it the better. Talking about death is a hard conversation that way too many people put off. The reality of life is, death; there’s nothing more certain. Writing a will doesn’t speed up the process, it simply leaves a person prepared for the inevitable; which could be the best decision they ever make.

A Legal Will can:

Protect your family: By personally directing your assets to your spouse, children or family, you can ensure that they thrive.
Name an executor: By naming an executor in your will, you can be sure that someone you trust is dealing with your precious possessions.
Help carry out your last wishes: Whether you always dreamed of having your ashes spread in the ocean or that the local humane society inherits your whole cash estate, your will can see to it that your dreams can come true.
Avoid long delays in settling your estate: When you have a legal will, there isn’t much to dispute.
Help you recognize your loved ones: If you always wanted to leave your cherished coin collection to your best friend, your will can ensure that it happens.
Appoint a guardian: Through your will you can state exactly who you would like to have raising your children in the event of you and your spouses’ inability.
Name your own beneficiaries: Your will can state exactly who gets what and how much. Without a will, your whole estate will go to a court appointed beneficiary and in some cases, this may not be your wish.

Without this simple legal document, many of these decisions will go through the court system called probate which can cost our loved ones and family time, effort, money and emotional well-being.

If you don’t have a will why not?

Did you know you can even prepare on your own? You can purchase a simple will kit and they are fully legal. You do not need to spend a fortune to be prepared for the future, may I suggest if you don’t have one please get it done soon.

Category: Money, Opinion / Tags: canadian will, death, final planning, will

What do you Remember?

November 11, 2011 / Common Cents Mom / No comments

Poppies © by Moyan_Brenn

Today is Veterans Day here in Canada, we stop at 11 am to remember and honor those who have served. What do you remember?

I remember as a child sitting with my grandfathers who served in WW2 and listening to the few stories they would tell. I remember the pictures of the plane and ship that hung proudly on the wall. I remember going to the parades and watching them march.

I remember meeting my step father and his stories of the Korean War. I remember too he served.

I remember my cousins who have served in Iraq and Afghanistan. They want democracy and peace there too.

I remember many a Warriors Day at the Ex, we had to go and pay respect.

I remember wearing a poppy every year out of respect.

I remember why each of them went, why each of them served, they did it as did the thousands of others so that we could be free, so we could have the life we wanted.

What do you remember today?

Category: Opinion / Tags: Veterans Day

Oh The Things You Do Not Know

October 28, 2011 / Common Cents Mom / 3 comments

thanks Corel for this headshot

Recently I went to Blissdom Canada, which I wrote about here. But now 2 weeks have passed and I am at home taking in all I learned, and I keep going back to Catherine Connor`s opening keynote.

She asked us to write down 5 things.5 things that we know, 5 things others may not know about us, and 5 things we don`t know. I have thought and thought about my 5 a lot in the past 2 weeks.

So here is what I know I know.

1. I know how to plan a good party. In my former life I helped plan and decorate many a party. I love doing this although I haven`t had much of a chance as of late.

2. I know God is real. I have known this since I was young. I may of gone on quite the spiritual journey but let me tell you this I know God is real. That is what matters most.

3. I know how to save money. When you have been forced to live on less you learn how to get creative with that little you do have, I have these skills and use them all the time.

4. A good book will drag me in, and I will sit there and read it till there is not another word to be read.

5. I make a great honey mustard curried chicken, when I have company over this is what I often serve.

What I dont know.

1. I talk about money and how important it is to save, spend wisely, and to give but I am no expert and I have a lot to learn that is the reason for this journey. I pray others are learning with me.

2. I don`t know if I am on the right path. There is a longer story here and I hope to share it soon.

3. I don`t know how to bake from scratch, I want to learn. I am a mix and go girl.

4. I am not good at math and I thank God for calculators.

5. I don`t know how to sew, another talent I would love to learn.

What You Don`t know About Me

Oh the things that you do not know.

1. I am a resurrected being. I was dead and revived when I was just a little girl. I stuck a rock in my nose and it got caught in my lung pipe I was dead for about 4 minutes I have been told.

2. My favorite place on the planet when I was a little girl was under the kitchen table. It is where I felt safest.

3. I do not feel this spiritual journey is done yet. There is more and I am still figuring it out.

4. I worked with the homeless for a year in Venice California. It was the best year.

5. Sometimes I try to hard to please others and don`t stand up for myself enough. I am smart and capable and can do almost anything has been my mantra for a while now.

So did you learn anything about me.

I give you a challenge to share with me what do you know, or better yet what don`t I know about you.

Category: Opinion, Uncategorized / Tags: Blissdom Canada

Wordless Wednesday: What Would You Say?

October 26, 2011 / Common Cents Mom / 3 comments

: notes to our former selves

What would you say to your former self?you know that teenage you?

Last night I attended the Barbie I Can Be The Voice Event here in Toronto. Barbie Canada has come up with a new initiative and it helps moms to better give their daughters a stronger voice.

Over the next 12 months they will tackle the hot topics of parenting and how to encourage our daughters.

Last night, we got a preview of the plan, and as part of the night we were asked to write a note to our teen self. So my question to you, what would you say to that teen you?

Me I said ” There is a light at the end of the tunnel”.

More pictures from the night.

Kathy Buckworth was our hostess for the evening.

Every woman love a good cupcake, and these were so yummy.

So come on tell me what would you say??

Category: Opinion / Tags: barbie, be the voice, wordless wednesday

Is Frugal an F Word?

October 20, 2011 / Common Cents Mom / No comments

This past weekend I was at a blogging conference, and I found myself refusing to label myself a frugal blogger. As I sat and really thought about it more, it is because even still I think of frugal as cheap and there is a huge difference between frugal and cheap and it is all in the mindset.

All weekend and even now I consider myself a smart consumer. Even when sitting down for dinner with Gail Vazoxlade, who many of you know I consider a money mentor, I again used the word smart consumer. But really, I was treating the word frugal as if it were a swear word and it is not.

A frugal minded person has an attitude about money, spending, saving, and more precisely, where saving makes the biggest difference. They are the one who will save and buy something of value instead of buying solely on price. You know the frugal minded person may shop at the dollar store, but they will often save so they can buy something they know will last, and that is smart. I do this on a regular basis.

Frugal people know how things tally up, and know when to skip cents for bigger savings (like furniture, cars, things you need every day).

A frugal minded person thinks and gets more for their money. They are smart and know the gimmicks and scams, they are the best shoppers and know how to compare prices, use coupons, promo codes and are never afraid to ask if there is a way they can do better.

Cheap people are always counting their pennies because they don’t know the basic money rules. Cheap people need instruction. I was a cheap, when I was didn’t have an income, when I was that welfare mom. I needed money instruction, and I am glad I got some strong money lessons they have helped me to gain wisdom, and the strength to make better money choices.

Cheap and frugal are not one in the same, I am seeing that more clearly now, and I can say I am frugal and a smart savvy consumer too.

Category: Money, Opinion, Uncategorized / Tags: cheap, frugal, money, smart consumer

Will It Ever Stop?

October 19, 2011 / Common Cents Mom / 2 comments

Will it stop?

Will it ever end?

Is there anyway I can make it better?

Can I make it go away?

Another day, another child bullied once again. Another dead teen. Will my teen be next?

I think I can remember the first time my daughter was bullied at school so much it made her cry. It was a fall day and her grade 2 year was just beginning. She came home at lunch and laid her head on the table and asked me. “Mom, why are the kids so mean?” I asked her to explain, my daughter being the perceptive kid that she is said “They won’t play with me, they call me names”. Exclusion began at an early age for my girl.

By the time we got to grade 5 there had been several incidents but none prepared us for what lied ahead. We moved to small town Nova Scotia, where I thought my daughter would thrive, but instead my daughter went through a year of what I refer to as hell on earth. Early in the year she tried to befriend 2 sisters who lived down the street, she invited them to our house, there was an incident ( one of the girls stole from a change dish that I kept out), after that the hell began. Two weeks later, these girls and a small army of 8 fellow 10 and 11 year olds, beat my daughter on her way home from school, just steps off school property. She had bruises and cuts that reminded her for weeks what had happened. Teasing, taunting, fear all became apart of my daughter’s life. The school principal did not take it seriously, nor did the trustees, and the police, well they told me there was little they could do until the kids turn 12. So I blogged it, wrote the newspaper, and prayed. At the end of grade 5 I had had enough so decided to move to Halifax.

A new school, a new year, or so I prayed, but again the bullying began. This time it wasn’t the physical harm. There was just the teasing and the taunts, the exclusion. Those things matter and leave emotional scars that I think are far worse than the physical ones sometimes.

So we moved again, back to Toronto, and the TDSB where I had had some success in getting my dear daughter feeling like she mattered, feeling like she belonged. After years of abuse at the hands of the bullies though, I began to feel like I was losing my daughter. Rarely does she genuinely smile and laugh and her thoughts take her to very dark places. Last year she became the bully when she reacted to the taunts and teasing of other kids, so much so that she was unwelcome at her school. For the last 2 months of the 2010-2011 school year, my daughter was excluded from an education because the board could not meet her needs.

Now this week, after the best start to a school year she has had in years, there was an incident, hair was pulled, words spoken, the investigation is still ongoing but I am a mom who fears for her daughter and the days ahead.

Yesterday the school psychologist called, they have just finished the assessment that they did. It is clear that my daughter has a learning disability, it has to do with processing. She is not autistic or on the spectrum, there may be signs of ADHD, but what worries the psychologist most is my daughter’s mental health. I am a mom who is drawing a conclusion here the years of bullying have left a huge emotional dent in my daughter, depression is at the door. So I think I have the right to worry, as I see the toll bullying is taking on our kids.

I ask myself every day, will it end? How can I help her to have a good day.

Does bullying concern you?

What do you think can be done?

Category: Family, Opinion / Tags: bullyimg, school, TDSB, teen

Money, Money Fixing a Broken System

October 17, 2011 / Common Cents Mom / No comments

There is an old saying money doesn’t grow on trees, but sometimes we live like that. We have been living like it sprouts from the ground for years. We have taken on personal debt, provincial debt and country debt..we are a globe in crisis, really. We are on the brink.

Canadians really have had it lucky in the overall scheme of things but we have not been unscathed. The Occupy protests that began on Wall Street in New York have a reason, and as much as we may not want our downtown core disrupted we actually do need the wake up call.

Having lived in both the United States and Canada, I have seen some differences but here too we have the corporate draining our system. These protests will not go away for a long time nor should they in my opinion and here is why we need them- We need more accountability in place.

Having been amongst the poorest in this country for many years, I learned it is important not to just give a bail out like we did with the corporate world in 2008, and then we turned around and threw money into the economy that was literally coming out of no where. So now there needs to be a day of reckoning. If I spend money I don’t have, or write a check for money that is not in my account it is called fraud. We have overextended ourselves and there has been no day of reckoning, no accountability. That is what has really been missing.

Along with the accountability, we need to get back to when it was good to help your neighbour succeed, instead of giving hand outs, give skills, educate, teach, share,in that way we can make better communities. Banks need to get back to helping the little guy. Small businesses globally make sense. Buying in your community makes sense, sharing makes sense. Lets start using some good old fashion common sense and look at the hard issues.

Category: Opinion / Tags: debt, money

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