{"id":31138,"date":"2017-09-02T07:48:40","date_gmt":"2017-09-02T11:48:40","guid":{"rendered":"http:\/\/canadianbudgetbinder.com\/?p=31138"},"modified":"2025-01-15T10:13:25","modified_gmt":"2025-01-15T10:13:25","slug":"powerful-super-savers-habits","status":"publish","type":"post","link":"https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/2017\/09\/02\/powerful-super-savers-habits\/","title":{"rendered":"8 Habits We Pursued To Became Powerful Savers"},"content":{"rendered":"\n

We weren’t born savers but managed to build a savings mindset<\/strong> by adopting financial rules<\/a><\/strong> that we would stand by even after we became debt-free<\/a><\/strong>.<\/p>\n\n\n\n

Once You Form A Habit, It Becomes Automatic <\/h2>\n\n\n\n

Start to talk about money, and everyone is all ears because not everyone is as rich as you think.<\/p>\n\n\n\n

Over the years, I’ve come to realize that not everyone who wants to know about how savers get their money motivation intends to do the same.<\/p>\n\n\n\n

Reading about success stories for some people who want to become savers is like getting high and slowly coming down because they never take their goals to the next level.<\/p>\n\n\n\n

Mrs. CBB had her friend over the other day who happens to be far younger than her, but our sons have grown up together.<\/p>\n\n\n\n

They are best of buddies, so we see them often and celebrate milestones together.<\/p>\n\n\n\n

Although we could technically be their parents if we got pregnant at the same age they have, twice, I know, right?<\/p>\n\n\n\n

They have two children under the age of 3, and they are barely out of their teenage years.<\/p>\n\n\n\n

They bought a second-hand, newer model car, rented a basement apartment, went to school, and worked full-time.<\/p>\n\n\n\n

Who does that?<\/p>\n\n\n\n

Many people do, and it’s not a backward way of planning. It’s a life choice they made.<\/p>\n\n\n\n

Asking People About Their Net Worth<\/h2>\n\n\n\n

She asked Mrs. CBB the other day a question that sparked me to write this post because people who genuinely want to become savers wish to learn.<\/p>\n\n\n\n

Her question was point-blank, “How much money do you have”?<\/p>\n\n\n\n

Mrs. CBB replied, “Never enough” because we don’t know what will happen.<\/p>\n\n\n\n

Then, they laughed about becoming Value Village Savers because they’ve become thrift buddies and help each other find bargains.<\/p>\n\n\n\n

This means there is hope and that the millennial generation wants to learn about building a portfolio rather than learning everything they need to pay off debt.<\/p>\n\n\n\n

Great news; however, not every young person knows about money-saving tools or budgeting.<\/p>\n\n\n\n

Possibly, it seems too grown-up for them, but soon enough, they’ll wish they tracked their money like a pro.<\/p>\n\n\n\n

So many people don’t care about their money until there is a debt to pay.<\/p>\n\n\n\n

Then they find out every rule in the book, under and around it, to fight the battle.<\/p>\n\n\n\n

There is so much blood, sweat, and tears for those struggling with overwhelming amounts of debt that I often ask myself why they hadn’t put all their energy into becoming savers.<\/p>\n\n\n\n

The answer is often because they didn’t need to at the time. It’s easy to go to work, get a paycheque, spend it, and do it all over again.<\/p>\n\n\n\n

Debt Is Not Your Friend<\/h2>\n\n\n\n

Then, debt enters the picture.<\/p>\n\n\n\n

I’ve talked to many people through social media about their money situation, only to have them disappear from the radar.<\/p>\n\n\n\n

I often wonder how they are financially and if anything they’ve learned from CBB has helped them become better savers.<\/p>\n\n\n\n

Budgeting is about How to make money, spend it, and save it.<\/p>\n\n\n\n

Discipline is the only way to get it done.<\/p>\n\n\n\n

Essentially, you are balancing money to keep the boat moving and stashing money away for a rainy day.<\/p>\n\n\n\n

Not everyone sees it that way because they haven’t adopted the saver’s mindset.<\/p>\n\n\n\n

Starting From Broke<\/span><\/h2>\n\n\n\n

If you get ahead of being broke and meet up with debt, you must create success.<\/p>\n\n\n\n

By this, I mean it’s up to you, and if you can’t handle the ups and downs of beating up debt, you’ll never survive.<\/p>\n\n\n\n

It won’t be easy, and days will be challenging and seem like they won’t get better, BUT they will if you give it time.<\/p>\n\n\n\n

Although we never suffered debt without an income to pay for it, we did have it under our belt, which meant it had to get paid.<\/p>\n\n\n\n

Mrs. CBB had a bank account with only $3000, retirement savings, and equity in her home when she went to sell it.<\/p>\n\n\n\n

Let’s forget about the equity here because that’s not relative, especially for those who sell to buy again.<\/p>\n\n\n\n

She had $3000 saved up in case of an emergency, and that was all she clung on to, but at least she had it.<\/p>\n\n\n\n

It wasn’t near enough, but instead of creating debt, she started to learn as much as she could about building wealth.<\/p>\n\n\n\n

So did I, which is another reason we clicked with the financial fire we had flaming inside us.<\/p>\n\n\n\n

It was a passion to hold back guilty, expensive pleasures until we reached our savings goals. <\/p>\n\n\n\n

This meant there was no jetting off on expensive March Break holidays or buying fancy cars just because we could.<\/p>\n\n\n\n

There was always a moment to reflect on how the money could be used better and what our alternatives would be.<\/p>\n\n\n\n

Savers like to watch their money grow<\/span><\/h2>\n\n\n\n

Some people get a high from saving $2 off a case of Coke, and others do the happy dance when their investments take a significant leap in the right direction.<\/p>\n\n\n\n

Then others get rocked by it all and do anything to save money, even if they have money saved.<\/p>\n\n\n\n

Just because you have money doesn’t mean you don’t need more.<\/p>\n\n\n\n

You’re not being greedy; just finding ways to grow your money and enjoy it simultaneously.<\/p>\n\n\n\n

What you don’t want to do is enjoy it too much before you have completed debt freedom.<\/p>\n\n\n\n

How we became such great savers is no mystery to us, but for our readers, I wanted to share what we consider our motivational money bible.<\/p>\n\n\n\n

Now that we can look back, there was a strict path we chose because becoming savers was only the beginning of our debt-free success before we hit our 40s.<\/p>\n\n\n\n

Related:<\/strong> How we paid our mortgage off in 5 years<\/strong><\/a><\/p>\n\n\n\n

What we didn’t know is that if we hadn’t adopted the savers mindset, we might have suffered a debt crash as so many people do.<\/p>\n\n\n\n

It’s hard to get out of debt, but not impossible even if you are late to the savers game. <\/p>\n\n\n\n

All you have to do is one thing: DON’T GIVE UP.<\/strong><\/p>\n\n\n\n

I don’t often advise on this blog, but if I had to, I would say don’t let anything get in your way or take over your emotional state with money.<\/p>\n\n\n\n

Fight it, find ways, and keep looking for alternate ways to become better savers and rid yourself of a debt crisis.<\/p>\n\n\n\n

It’s better to be broke and debt-free than with a shovel and a mountain.<\/p>\n\n\n\n

Savers Rules For Success<\/span><\/h2>\n\n\n\n

I put together a small chart to outline how we became savers and the mindset that we assumed along the way.<\/p>\n\n\n\n

This all didn’t happen overnight, but if you want the savers mindset <\/strong>to guide you to success, then you must embrace it.<\/p>\n\n\n\n

No BS excuses; do it.<\/p>\n\n\n

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Discussion Question: What are some Savers rules that you’ve created to reach your financial goals?<\/strong><\/p>\n\n\n\n

Another Week At The CBB House<\/span><\/h2>\n\n\n\n

This was a big week for us as we put a big hole in our net worth, which I will talk about in our next net worth update for August.<\/p>\n\n\n\n

It was no surprise expense but certainly planned for years.<\/p>\n\n\n\n

We’ve also been exploring local programs for our son, who will celebrate his third birthday.<\/p>\n\n\n\n

So far, we’ve talked about karate, daycare, and YMCA programs for toddlers.<\/p>\n\n\n\n

What we’d like to see happen is that our son gets involved with other kids since he mostly stays at home with Mrs. CBB.<\/p>\n\n\n\n

You will see a dent in the budget as we signed him up for soccer this year to give it another go now that he’s a bit older.<\/p>\n\n\n\n

We don’t regret putting him in soccer before he was two because it exposed him to teamwork and listening to his coach.<\/p>\n\n\n\n

Our little guy has also mastered the potty in the house, but we are still putting pull-ups on him when we go out.<\/p>\n\n\n\n

He doesn’t potty outside of the house yet, though.<\/p>\n\n\n\n

Any tips would be appreciated.<\/p>\n\n\n\n

Work Life <\/h3>\n\n\n\n

Other than that, I’ve been swamped with building new programs for work that must be done as soon as possible.<\/p>\n\n\n\n

Starting a new job, even though you’ve done it for years, is challenging, especially when you find out what you didn’t do when you were a contract worker.<\/p>\n\n\n\n

This tells me that not everything is as it seems. You certainly have more responsibility on your shoulders going from contract to full-time.<\/p>\n\n\n\n

It is understandable but, at the same time, deceiving. I love the new role, though.<\/p>\n\n\n\n

Things might get hectic on the blog until I’m sorted out because I can’t be everywhere, but I’m doing my best.<\/p>\n\n\n\n

Blog Design Update<\/h3>\n\n\n\n

As mentioned, I hired a new designer for the blog, and any suggestions are welcome.<\/p>\n\n\n\n

Please don’t wait to speak up, as I can’t go back and make significant changes to the design and layout once it’s done.<\/p>\n\n\n\n

What’s missing from CBB that you’d like to see?<\/p>\n\n\n\n

That’s all for now, everyone!!<\/p>\n\n\n\n

Happy Long Weekend, and embrace Autumn as it feels like it is already upon us.<\/p>\n\n\n\n

Mr.CBB<\/p>\n\n\n\n

CBB Published Posts<\/span><\/h2>\n\n\n
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If you have a question you would like to ask me, fill out the Contact Mr.CBB form on the blog home page, and I’ll do my best to reply to each question.<\/p>\n\n\n\n

If you would like to share a story<\/strong> via a Fan Question, please ensure that there are a minimum of 500 words and lots of details\u2026we love details!<\/p>\n\n\n\n

Contact me for more info at canadianbudgetbinder@yahoo.ca, or you can find me on Twitter (@Canadianbudgetb), Google Plus, Facebook, Tumblr, Stumble Upon, and Flipboard.<\/p>\n\n\n\n

Top Post This Week: <\/strong>How Much Should My Grocery Budget Be?<\/a><\/p>\n\n\n\n