People often wonder how to find the best deals for computers like Dell. It’s tricky, especially when there are so many different brands, uses, speeds etc. Decide what you need in a computer When you’re looking for a computer, the best thing you can do is to do a quick search on the Internet. Look for…
Why it makes sense for me to buy a new car
It is time to replace my aging 2006 Chevy Equinox, as it quickly approaches 300K in mileage! I have done my research and narrowed it down to just two models (both are crossovers). And between these two, there is very little difference except for gas mileage. One of them has superior gas mileage, and with…
There is a new war in Canada: “The War on Gouging”
Canadians have often been known for being polite, soft, apologetic, charitable and generally friendly. But could these nice attributes be the very reason why Canadians are also such sloppy and not very wise consumers? Unlike their neighbors to the south, they let retailers and companies gouge and walk all over them, and not say or…
Impulse Buying is Killing Canadians’ Budgets: how and what to do about it?
I have talked and warned about ‘impulse buying’ in the past and recent bank polls re-affirmed and legitimized my warnings and fear: impulse buying is indeed killing the budgets of Canadians. According to a BMO poll, Canadians spend an average of $3720 on impulse purchases, which include clothing, shoes, electronics and even food (possibly leading…
From Wedding to Honeymoon: The Importance of Budgeting and Saving for Life’s Special Moments
It has been some time since I last wrote anything here and that is due to big changes that happened in my life recently : I am now a married man! My wedding was in mid August and that was followed by an exciting and lovely honeymoon in Europe, which included 4 day stay in…
Job Switch: more money or closer to home?
Many of us have been faced with this work dilemma: you already have a job that is close to home and pays OK. In other words, it is a job that may not make you very wealthy any time soon but it also gives you a stress-free comfortable life, where you can spend more quality…
Are people actually waiting for a real estate crash?
There is no denying that we have officially-some time ago actually-entered an unchartered territory for Canadian real estate prices. Prices for houses and condos are through the roof. They are up some 10% in just the last 12 months which is quiet amazing! Some of these price increases are fueled by competition and price wars. Others…
A Simple and Effortless Method to save money off your gas fill-ups
If you are paying cash, don’t fill it up 100%, instead stop at 98% or 99%! Let me explain why: If it is going to cost you $65 to fill up your car, you should stop at $64.75 or $64.90 etc. Why? Assuming you are paying with cash, this will get you a few cents…
Easy solution to reduce spending: two bank accounts
Do you find yourself spending your paycheck within a few days and then nothing is left to pay off your bills, let alone for savings? There is a simple solution: having two bank accounts. One will be your central and main account, where your paycheck is deposited. You will use this to pay off bills….
Don’t feel Envious of all the new Facebook Billionaires, learn from them!
Feeling all depressed and envious reading and hearing all the endless talk about Facebook’s 100 billion IPO? Don’t be, or at least try not to. As much as I believe the hype and valuations are highly unjustified, I still say good for Facebook and its founder Mark Zuckerberg. To be able to create a company…
The New World of Efficiency and Austerity and how you can stay ahead
You hear it all around you, cutbacks, austerity measures, new efficiency programs and other measures that are being implemented by companies and government worldwide. It is the new world we live in. World economies and finances are in the worst shape they have been in decades. It all started in 2008 with the US sub-prime…
It is January 1st, 2012: Get started with Saving NOW!
Happy New Year! Having cleared that out of the way and all the celebrations that come with a new year, let us get down to business. Yes, right here and now, on January 1st. We don’t have much time to waste. Not even having an extra day from this being a leap year is an…
Good News for 2012: Food price increases to ease!
Let me try and blend both the good news and bad news together: while Canadian (and North American in general) food prices will continue to go up in 2012, the increases won’t be as large as the ones we saw in 2011. According to an article in the Toronto Star: “University of Guelph economists predict…
What is a Debt Consolidation Service and when to use them?
In the last three years, dating back to the start of the global recession and the worsening economic conditions, we have been hearing a lot about bankruptcies. Both business and personal. Ignoring the ‘business’ side of things, when it comes to ‘personal’ cases of bankruptcies or being on the verge of sinking into one, a…
If you Budget for it, you won’t feel the pinch!
I noticed something about the way I pay for big purchases which may not be very obvious to people often: if I have budgeted for a big purchase, I will actually pay for it with a smile. In other words, I am not feeling a big pinch from having to pay so much money for…
Budget Sense is 1 Year Old: What have we learnt in the past 12 months?
Our blog is 1 year old! Thank you for helping us get here. So, what have we (the bloggers and our readers) learnt? lots of things. Most importantly, things that will make a difference in your personal finance matters and at the end of the day put more money in your pocket. Most importantly, a…
Start Budgeting for Christmas Shopping from now
It is early November and we are now less than 2 months away from Christmas, which is about enough time to do all your Christmas shopping. But instead of putting it all on your credit card this year like you have often done, why not start budgeting and saving for it from now? you have…
What are your biggest financial mistakes and regrets?
We all have our life mistakes and regrets. That crush you had on that girl in high school which you now look at as a waste of time. How about that decision to not finish high school? But what about your biggest financial mistakes, the ones that you have regretted till this day? We all…
Start Saving for your newborn before even leaving the pregnancy room
We all love the smell of a new car or the feeling of moving into a new house. But as a parent, there is no better feeling than that of having a new baby, especially if it is the first one in the family! Amid all the excitement and joy of having a new baby, parents…
Are you the next Greece?
When we hear of Greece, images of beautiful beaches and islands come to mind, if not all the great philosophers it gave the world. Unfortunately, as of late, hearing the word ‘Greece’ instantly brings images of people protesting in the streets, youth rioting in front of the parliament in Athens and other images of chaos. …
Family Budgeting for a Happier Life
Should a married couple have one family budget or should each do it on their own? To begin with, it is best that we have a budget, period. As to the question of what is better, a combined or separate budgets, that is up for discussion. Best way to Budget as a Family Most families…
Back to school Budgeting for Students
We are one day away from a new school year and it is time to do away with summer habits and rituals. It is time to focus on school and studying. School nowadays, especially colleges and universities, cost a fortune and that requires a budgeting plan by students to survive it financially. Budgeting and Working…
Is your Credit Rating about to be Downgraded like the US? It doesn’t have to…
The financial world and the stock market have been rocked by the downgrading of the US credit rating by Standard and Poors. Given the poor state of the US economy and the government’s recent infighting to reach a consensus regarding the debt ceiling in a short time, have all spelled an end to the United States…
What the ‘Debt Ceiling Increase’ debacle in the US has Taught us
The on-going ‘debt ceiling ‘ crisis in the US is a great example of why we need to have a budget and live within our means. If the government of the United States of America-the most powerful government of the most powerful country on earth- can’t meet its financial obligations due to ever increasing spending,…
Foolish ways of Using your Credit Card
Here at Budget Sense, we almost always recommend against credit card usage, unless in extreme and desperate situations. But of course, credit cards can come in handy in certain situations. But they can also be abused by being used to buy things that just don’t justify the purchase. What are some foolish ways of using…
Want to become a Millionaire? Go Big, have Luck, be Patient and get Going!
Although a million dollar is not what it used to be, I say a million is a million, and it still sounds cool and very cha-chingy! Becoming a millionaire is still a dream for millions of us in this country and everywhere else you go-well, exception are those countries whose smallest denomination money starts at…
A New Generation of unconcerned Credit Card Spenders
I have an admission to make and please stop me if you have been guilty of this same feeling or thinking as well: there are times when I don’t feel an extreme rush or urgency to pay off my credit card balance simply because there is no visible harm being done. Accumulating interest rate? who cares,…
Duck for Cover, a New Global Recession May hit us Again but you can be Safe
Are we about to be hit with another recession and a global economic slowdown? many signs are leading us to believe this may be imminent. Regardless of what happens, it is better to be ready for something that won’t happen than not be ready when something bad does happen. You would like to think that people…
How I enjoyed an Amazing Las Vegas Vacation with a Small Budget
Unless you have planned for it, are very organized and disciplined, a trip to Las Vegas could be one of the worst things you can do to your budget. I am one of the few lucky one(or maybe smart is the right word) that planned for this trip, almost to the penny. That is, despite…
Adjusting your Lifestyle or Adjusting your Budget?
When something dramatic changes in your life, how do you respond? do you change your lifestyle around it or do you change your budget instead? For example, given the sharp increase in the price of gas in the last few weeks, do you go back to your budget and increase the amount allocated for gas?…
7 Advantages of Using a Personal Budget
Discover the undeniable reasons why having a budget is essential for managing your personal finances. A budget provides a clear overview of your income, expenses, and remaining funds, empowering you to make informed decisions. It ensures financial freedom by allocating funds to different categories, preventing overspending in one area and leaving nothing for others. Additionally, a budget helps eliminate debt, reduces stress, and enables you to assess and improve your financial situation.
Selling and Making the most out of your Textbooks
As current or former students, we all know what a fortune it costs to buy textbooks. Sometimes in the thousands of dollars per semester. Given students’ limited income, this can be quiet tough for most students to afford, and can shred your budget to pieces! Having said that, there is something you could do with your…
Carrying Larger Bills could help you Save Money
Before, it was about common sense and conventional wisdom. Now, it is has been proven through real research. According to a study published in the Journal of Consumer Research, shoppers are less likely to spend their money if they are carrying cash in large denominations. There is even a name for this social phenomenon: ‘denomination…
A Faster Approach to Paying off your Credit Card debt
When it comes to eliminating your credit card debt, paying the minimum payments will only mean that you are covering what is necessary to ensure a good standing order with your card issuer. But that is about it. You are not getting ahead in terms of paying off the remaining balance on your credit card….
Want to make that big purchase so bad? Then start planning last year!
Like everyone else, I occasionally see something I really like and want to get it that moment. Problem is, it may not be anything I can easily afford. It could be something big, say a nice car, a new electronic gadget, computer etc. Call it ‘instant gratification on steroids!’ Unless I have a lot of…
Are Canadians Sleepwalking Into a Financial Crisis? A Wake-Up Call on Credit Card Interest Rates
A recent CGA-Canada survey revealed that more than half of the respondents had no idea how much interest they were paying on their credit card balances, with many mistakenly believing it to be around 3-4%, similar to the prime rate. This is a startling revelation. While not everyone may know the exact percentage, it’s concerning…
Book Review “75 Ways to Save Gas” by Jim Davidson
As gas prices continue to rise, the more we find ourselves searching for ways to save money at the pump. Unless you have an endless supply of cash or a car that runs on futuristic solar energy, saving on gas is a necessity. There are countless websites offering tips on how to save gas and…
Replacing Your Car? Here’s Why Fuel Efficiency Matters More Than Ever
Oil is in an ever-declining supply, and as a result, gas prices will only go up. So why do we wait for hurricanes, Middle East unrest, or other unforeseen events to realize that gas is too expensive and we just can’t afford it anymore? It’s time to face the reality: the general future trend for…
ow I Slashed My Utility Bills with a DIY Energy Audit
It seemed like every utility bill I received lately—whether for electricity, water, gas, etc.—was higher than the last. My utility bills were absolutely killing my budget, eating into the allocations I had set for other expenses. I realized this couldn’t continue. Something had to change. I started by gathering my last six bills from each…
This iPhone Application has Saved me Hundreds of Dollars!
This is arguably the quickest and easiest money-saving activity you can do. It literally takes just one second to check the ‘FGPNow!’ app on my iPhone to see where gas prices are heading for the next day. If you often find yourself asking, “Where are gas prices heading tomorrow?” or “Should I fill up today…
Budget Turbulences and how to Control them
We all face unexpected expenses from time to time—whether it’s treating out-of-town friends to dinner or indulging in a spontaneous shopping spree. Such splurges can quickly blow your ‘personal and pleasure’ budget for the week, leaving you financially strained before your next paycheck. But don’t panic. Here’s how you can manage and regain control when…
The Secret Financial Upside of Donations: How to Budget for Maximum Impact
When creating your first budget, remember it’s not the final version—revisions will be necessary as you go along. One crucial aspect often overlooked initially is donations. Donations not only support others but also offer tax benefits, lowering your taxable income or increasing your tax refund. It’s essential to include them in your budget. Beyond RRSPs,…
Slash Prices, Boost Savings: The Ultimate Guide to Smart Shopping
Inflation? what inflation? It’s surprising to see people still paying full price for items like electronics, cars, clothing, and books. In many cases, individuals are not only paying full price but also premium rates. With intense competition from businesses today, especially for non-essential items (excluding gas and electricity), there’s no need to pay full price…
Secrets to Financial Success: Boost Your Income and Slash Your Expenses
The ultimate goal of your budget is to have money left over after covering all your expenses. To achieve this, you need to maximize your income and minimize your expenses. Here’s how: Minimizing Your Expenses Maximizing Your Income These are just a few examples of how to minimize expenses and maximize your income. While it…
How to Properly Absorb the Current High Gas Prices Shock?
The ongoing uprisings in the Middle East, with the most recent and dangerous conflict now raging in Libya, have caused gas prices to surge by approximately 7 cents per liter in just a few days. This translates to an additional $5 or so for each fill-up. While this increase may not be life-changing for some,…
How to Prepare for Tax Season Year-Round and Maximize Your Return
Tax filing season officially kicks off in mid-February, but how many times have you found yourself scrambling to gather your documents at the last minute? Being well-prepared for income tax filing can be the difference between receiving a substantial tax return or facing a surprise bill from the government. Here’s how you can get organized…
How your Spare Change can Pay for Big Purchases!
Did you know you can use nickels, dimes, quarters, loonies, and toonies to pay for significant expenses? I did exactly that by using change saved in a piggy bank to cover over $800 of my dental treatment for braces. It took less than 18 months to save this amount, and it didn’t feel like a…
Budgeting for Big Purchases Without Touching Your Savings
In your budget, a ‘savings’ category is essential for emergencies or general savings. But what if you want to purchase something pricey, like a vacation or new furniture? Instead of dipping into savings, create a new category dedicated to the specific item…
The College Debt Trap: How to Break Free
The college experience is often painted as a carefree time of exploration and growth. Yet, for many young people, it’s marred by a looming financial shadow: debt. The insidious nature of credit card offers on campus has turned this pivotal chapter into a financial minefield. Credit card companies have cleverly targeted college students, preying on…
Find and Fix Hidden Budget Drains with a Simple Log
It’s astonishing how easily money can slip through our fingers, often without us even realizing where it’s going. While we’re aware of the obvious expenses like gas, groceries, and utility bills, there are hidden costs that quietly drain our finances. These unnoticed expenses are like leaks in your budget—leaks that need to be identified and…
Maximizing Your Money: The Power of Twitter in Personal Finance
Twitter isn’t just for trending hashtags and celebrity gossip—it’s a goldmine for your wallet. Imagine turning those 280 characters into 280 dollars, or more. Yes, you read that right. Twitter can help you save money, and even make some along the way. Intrigued? Let’s dive into how you can leverage the power of Twitter to…
Gas Budgeting could Save you lots of Money
While Tesla and other electric vehicles (EVs) are making strides toward a greener future, they might not yet be within reach for everyone. Until EVs become more accessible, many of us continue to rely on our current gas-powered cars, known as internal combustion engine (ICE) vehicles. Here’s how to navigate the ongoing costs and manage…