Budget! It’s one of my favourite words! And in this week’s Money Master Class, Gail had us looking over and refining our budgets. Budgeting Gail started by getting us to check how our budgets are balancing. It’s important to review your budget–especially if there are changes in income–to make sure the budgeted amounts for each category is realistic. I am a huge fan of keeping a spending journal. It can sound like a lot of work to write down every single purchase you make, but once you get into the habit, it takes no time at all. The spending journal helps me to track my spending, ensuring I don’t go…

This week was both one of reflection on the year and also looking forward to 2021. Gail also continued to answer participant questions as November came to an end. Checking In How did this year go for you? Gail would love to hear it! Just as she’s anonymously shared participant questions in November, she will share your stories on Twitter. November Questions This week had the last day of November, so there’s one more participant question. I’ll type out the Q & A below the tweet as I have in previous weeks so it is easier to read. Question: I was a young single mom and now I’m 31 working…

This week Gail continued to answer Money Master Class participant questions. She also touched on topics of helping others and building community. Relationships Relationships can be tricky. Adding money talks into relationships can be even trickier. Helping Others This topic is a hard one, but it is an important reminder. Helping people is a wonderful thing, but if offering financial help puts you at risk, it is better to find an alternative way to help. This can be anything from giving time to helping search for resources that will assist the person in need. Money The all important reminder: credit is not your money! Community I love the idea of…

This week, Gail continued to answer participant questions. She also talked a bit about feelings–feelings of denial, entitlement, and what we deserve. Adaptability So much of what Gail has been trying to teach us this year can be summed up in this quote: “Things never stay the same. If you want to be in a better place tomorrow, face your reality today and start making plans.” – Gail Vaz-Oxlade Denial Pretending things aren’t what they are is not a helpful way to create change in our lives. Gail talks a bit about that truth this week. Entitlement What do you Deserve? Similar to evaluating whether you are entitled, it’s important…

This week Gail continued to answer participant questions and also delved into a couple of small topics, such as money set points. Deprivers and Classic Debtors Last week, Gail talked about Misers, Spenders, and Avoiders. Misers hang onto money at all costs, spenders are rabid shoppers, and avoiders turn a blind eye to all things financial. This week she brought up Deprivers and Classic Debtors. Money Set Point Gail introduced the concept of a Money Set Point in Week 16. It’s kind of like a tolerance level–that point when you reach a certain dollar amount in your savings and you stop paying attention to spending. Or when you get your…

This week we looked back at all the work we’ve tackled so far. Gail also started answering Money Master Class participant questions and touched on topics such as teaching kids about finances. Looking Back First, a look back at everything we’ve talked about so far this year–and it’s a lot! While I haven’t mastered all of these topics (investing, for example, is still foreign to me), I’m so encouraged to reflect on how focused I’ve been on improving my life financially this year. Testimonies Some participants shared encouraging stories of what they’ve learned and how far they’ve come. Freezer Meals Meal prep and freezer meals are a fantastic way to…