Money Freedom Mentor

**SPOTS FILLED!!** Thank you to everyone who reached out. Keep an eye out early summer for the launch of my new budget spreadsheet! ------------------------------------- I am looking for 10 people to test out my new budget spreadsheet before it launches!... Do you: -currently not have a budget -use pen and paper to budget -want to move to an electronic budget -have a few hours over the next 6 weeks to commit to the process -want to have first crack at a really awesome budgeting tool for free?!!! DM me if you are interested

Update! The Canada Child Benefit Young Child Supplement {CCBYCS} has passed and you will start seeing money later this month if eligible

Start NOW! Stop making excuses, or waiting for the next month. You can start no matter what day it is. Track your spending, create a budget, start making your money work for you!

I want to start saving /paying off debt but I already live paycheque to paycheque Sound familiar? There are two basic solutions to this roadblock: make more money & spend less money. Simple right? Easier said than done, but the good news is, IT CAN BE DONE! It just takes your commitment and little bit of sacrifice. Make more money: work a second job; start a side hustle selling something you make/a service you provide; sell things you have that you don’t use any more; a...sk for a raise; work towards a promotion at your current job. Spend less money: make a budget!; cut back on the easy things (impulse buys, unnecessary retail spending); negotiate down your monthly bills; find fun free things to do for entertainment; eat at home as much as possible. There are a TON of different ways to make more money & spend less. Find what works for you and is sustainable to jumpstart your money freedom journey today.

Again, it's not how much you make, it's what you do with it. **He hadn't looked at his bank account in 2 years

A little Sunday #perspective #createyourownlife #freedom #intentionalliving #hitshome #selfemployed #employees #makesyouthink

Have you ever wondered if you could be doing your own taxes? If you have a simple return, you would be surprised how easy it can be! There are many online/downloadable programs that walk you through preparing your taxes step by step. It will start by asking you what income/expenses apply to you. It will then walk you through everything you need to input and where, and then file your taxes directly online. If you have a basic return with very few tax slips, you could save so...me money by doing your taxes yourself. If you have: -One or two straight-forward income sources (T4 from an employer; T4A from Government Assistance, T5 Investment income) -Basic tax deductions like RSP contributions, childcare expenses If you have used an accountant to prepare your taxes in the past and want to try doing them yourself, make sure you know of any unused deductions that were carried forward. If you are unsure, or have a more complicated return, seek the help of a professional tax specialist. Make sure you shop around, not all tax preparing businesses are the same. Try to find someone who does this for a living full time as they will be better informed of all the latest tax deductions and credits. Even if you don’t decide to do your taxes yourself, I encourage you to ask more questions of your accountant. The better you understand the deductions and tax credits that apply to you, the smarter money decisions you can make. Do you do your own taxes?

I made these cute & easy Valentine's cards last year for my daughter's kinder class, and dayhome. I printed them off of Pinterest onto cardstock, added a few Starbursts and the kids loved them! I am doing something similar this year with slap bracelets, which the kids are excited about. I spent $7 for 16 bracelets at the dollar store. Are there cheaper options? Sure, but my daughter likes being able to help make them.... What are you doing for kids' Valentines this year?

Charitable donations -- you can carry forward up to 5 years if it makes more sense to claim it later; the tax credit is lower on the first $200, and higher on anything above that. You can claim up to 75% of your net income. Tuition/education & textbooks -- these expenses can be claimed by the student or transferred to their parents or grandparents who would be in a higher tax bracket and would see more benefit of the deduction. RRSP contributions -- most beneficial if claimin...g in a higher tax bracket. Volunteer firefighter/search & rescue -- you can claim $3000 if you were a firefighter volunteer or search & rescue volunteer if you completed 200 hours of service. First time home buyer you can claim $5000 if you (and the person you buy your house with if applicable) has not owned a home in the last 5 years. There are many other deductions and tax credits available, these are just the more common ones. CRA has the full list and all the details on their website if you are unsure what you qualify for.

Do you have celiac disease? Did you know you can claim the cost of gluten-free groceries on your taxes?? With a note from your doctor indicating you have celiac disease, you can claim the cost difference between a product with gluten in it vs the gluten-free option is. Example: Bread bought in a year: 52 loaves... Regular bread with gluten: $3.50 Gluten-free bread: $6.99 = $3.49 difference per loaf x 52 loaves = $181.48 you can claim. You must keep all receipts of the gluten-free products you purchase (but don’t have to submit them unless audited). There is a long list of medical expenses you can claim against your taxes, from ambulance rides, to travel expenses, prescriptions and services not covered by benefits. Equipment to help the sight and hearing impaired, fertility treatments, uncovered cancer treatments, therapy, even service animals. Dentists, naturopath, chiropractor, optometrist. Each province’s list of approved practitioners is different so check to see what you can claim for where you live. You may also claim expenses from outside of Canada if you travelled for treatment. You can claim your total expenses in a 12-month period ending in 2020. So you may decide to claim expenses from August 2019 August 2020 if that is most beneficial to you. You can claim the total of eligible expenses, minus the lesser of $2,397, or 3% of your net income. Check out the CRA website for the full list of eligible expenses. You might be surprised what you can claim!