Category Archives: Budget

fort_mcmurray

What does $720,000 get for a house in Fort McMurray?

Living in Victoria, BC I am used to seeing high prices for housing. I used to think it was expensive living in Victoria.

[quote]According to the Royal LePage House Price Survey, the standard two-storey homes in Fort McMurray sold on average for $720,000.[/quote]

Fort McMurray is considered the heart of one of Alberta’s (and Canada’s) major hubs of oil production, located near the Athabasca Oil Sands. Besides the oil sands, the economy also relies on natural gas and oil pipelines, forestry and tourism. The two largest oil sand mining companies are Syncrude and Suncor Energy.

I understand the remoteness of the community and the cost of living but when a house that has 3 bedrooms and 2 baths is $720,000 how does a family get ahead?

ben_turpin

What is the strangest insurance policy you heard of?

Most people need insurance for various aspects of their life  automobile, health, life and homeowners insurances.

[highlight]Some people require additional insurance on various aspects of their lifestyle or physical appearance.[/highlight]

Here are some strange policies:

Cross-eyed comedian and actor, Ben Turpin (1869 – 1940), known for his work in silent films, was the first celebrity to insure a body part: he purchased a $25,000 policy with Lloyd’s of London that would pay if his eyes ever uncrossed.

Actor Daniel Craig took out a £5 million (about $9.5 million at the time) insurance policy to protect against losses to his body. The actor, did his own stunts in the 2006 James Bond movie, “Casino Royale,” took out the policy due to the risks involved in the stunt work.

“Ugly Betty” star America Ferrera’s smile was insured in 2007 for $10 million at Lloyd’s. Aquafresh, makers of Aquafresh White Trays, an at-home teeth whitening product, paid to insure the actress’s smile as Ferrera began working with the company to promote the United States charity, Smiles for Success.

[box type=”info”]Anyone else know of any crazy insurance they could possibly take on themselves?[/box]

I am still unsure of the premiums these stars or businesses pay for this coverage.

StruggleoverMoney

Why you should include your spouse in making the budget?

Budgeting with your spouse can be stressful. It is a challenge to balancing the needs of your spouse with your own.

Several reasons why you should do this:

1. You figure out what is important to the other person.

If one of you wants to save for a house and the other is saving for a car, you have different priorities and when you make a budget.

Do you want to save up for a house? Do you want to go on vacation? 

2.You both can see what the bottom line is. 

In some relationships, the other spouse may plead ignorance or not know where the money goes. Working together on the budget, each person looks at the combined income, expenses, credit card balance, debt, etc.

This is useful and important for trust in the relationship.

I am pleased working with my wife on developing our budget because circumstances change.

My tip is to make sure to give the other person a few compromises.

Anyone else have ideas on why this is important?