Financial Wins for Credit Education Week!

It’s Credit Education Week here in Canada and the people who created this week 10 years ago (Capital One Canada) have asked me to share a financial win with you!Well, let’s have it shall we?

Most of you who have read this blog for a while know about my journey. I went from buying a condo to selling a condo. Getting married, having a kid, buying a house and renovating a house all in the last 4 years. So what in all of that is my biggest financial win? After thinking about this for a while, I have to say – my win is not a traditional “I paid off this much in XX months” or “I achieved X”. My win is more of a mindset.

When life gets thrown at you it’s easy to throw in the towel. I know many people who, when life starts coming at them, they lose all sense of planning and foundation. For example, it’s easy when you’re renovating a house and hemorrhaging money to start thinking

“What’s another $500? What’s another $1000”

When you have a baby, it’s easy to think,

“there’s a lot of extra costs here, I can’t afford to start their RESP for a few months.”

And, when you have a spouse, it’s always easy to not have the finance conversation and just say,

“we’’ll pay it off next month”

My biggest financial win is sticking to my foundation and not letting career, life, babies or houses sway me. Even when we were getting approved for loans on our house and could spend more money, we chose to stay on a budget so we could limit our spending. I started my sons RESP when he was 2 months old and deposited all money I had been given “for him” into his account. Even now, with both myself and Savvy Sidekick working and making a decent income, if our spending gets out of hand one month we limit our monthly spending and change our habits until we get back on track. It’s a good reminder to us to always be conscious of our spending habits.

For me, being budget conscious is not an item to check off my todo list – it’s a way of life. It’s a way of setting myself up for the future so that should something happen, I’m limiting mine and my families exposure and keeping us all on track.

What are some of your financial wins and how did you achieve them?

This post is sponsored by Capital One Canada, however all thoughts are my own.

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