Intentional decisions we make in the first few days or weeks of the year can go a long way. That’s why you should aim to make your most important decisions early in the year—and commit to sticking with them. This approach is slightly different from making a resolution. With a resolution, you’re often just throwing…
Have you ever looked at your workplace pension or RRSP and felt like you were staring at a bowl of alphabet soup? Between “Active Portfolios,” “Target Date Funds,” and “Index Funds,” it’s easy to just click “Default” and hope for the best. That is exactly where I was. I had my balance spread across nearly…
As 2025 comes to a close, it’s time to look back on the core principle that defined our financial journey this year: control. True financial freedom isn’t about limitless spending; it’s about the power to make deliberate choices with your money, free from stress, debt, and societal pressure. Over 52 articles – one every week-, we…
While recently reading a book about AI, one quote immediately caught my attention: “Ultimately, it wasn’t the pizza or the technology that turned Domino’s around; it was the leadership. Without strong leadership, the brand was plummeting like a rock.”— The AI-Driven Leader: Harnessing AI to Make Faster, Smarter Decisions by Geoff Woods Before diving into…
Your mortgage renewal is not just paperwork – it’s a powerful financial checkpoint. With rates having climbed significantly in recent years-and come down a bit of late-, automatically accepting your lender’s first offer is one of the most expensive mistakes you can make. Taking the time to review your options could save you thousands over…
We’re less than four weeks away from a new year. Yes, 2025—despite feeling like it started yesterday—is almost over, and 2026 is around the corner. Before long, 2026 will turn into 2027, and the cycle continues. The goal of this post isn’t to stress about how fast time moves, but to help you do a…
Who Really Deserves a Christmas Gift? That friendly crossing guard who helps your child get to school safely – does he deserve a Christmas gift? What about your condo’s security and mail team? Your coworkers? Your boss? Your barber? You get the idea. Throughout the year, you interact with many people – sometimes hundreds. So…
I am an avid podcast listener, and “We Study Billionaires – The Investor’s Podcast Network” happens to be one of my favorites, for all things to do with investing and analyzing the personalities and character of great investors. One of their recent episodes caught my attention, and I decided to make notes and share my…
Did you notice the recent downward trend in gas prices in Toronto—and across Canada in general? Ever since the Liberal government decided to remove the consumer carbon tax on gas, prices have been trending downward. In fact, despite periods of significant volatility, the price of gasoline in Toronto has dropped by 26.7 cents per litre…
Can you manage your debt without knowing how much you owe?Sure — but you won’t get anywhere. You’ll just keep spinning your wheels. Recently, a friend asked me for help with his family’s growing debt and wanted to find better, more aggressive ways to eliminate it faster. Their total debt was around $60,000, spread across…
Amazon was one of the first high profile tech company to come out and announce plans for big layoffs to their workforce. As if not to want to come out first, and Amazon having cut the tension, other companies came out shortly after, including UPS with close to 50K job cuts. GM, Target and Paramount…
While most people focus on “paying bills” or “saving money,” a budget offers several psychological and strategic advantages that are rarely discussed in personal finance literature. Drawing from years of personal finance writing and experience, here are four unconventional reasons why a budget is your most powerful tool: 1. It Eliminates “Decision Fatigue” Every day,…
Today is October 19, and while we still have Halloween and U.S. Thanksgiving to get through, Christmas is just over two months away — about nine weeks, to be exact. Let’s break it down further: that’s roughly 4–5 more paychecks for most people, assuming a bi-weekly schedule. Why am I breaking down how many months,…
I’ve always loved going to Chuck E. Cheese — it’s a place where my kids and I have a blast while it brings back wonderful childhood memories for me. We try to take the kids there about once a month. Recently, during one of our visits, I saw a great offer for a two-month pass…
We often use credit cards for their convenience and to buy things even when we don’t have enough cash on hand. But have you ever thought about their other benefits—the ones that may not come to mind right away? There are many such perks to using credit cards, but today, let’s focus on three of…
If I only bought Bitcoin 10 years ago…What if I had bought Tesla or Amazon stock a decade ago?How much money would I have today if I had saved just $100 from every paycheck and increased it by $100 each year? We’ve all played this game of “what if.”It’s easy to imagine a better financial…
The Bank of Canada announced a quarter-percentage point decrease to the prime lending rate, now at 2.50%, confirming forecasts of a rate cut. This move is expected to lower borrowing costs, with the prime rate likely adjusting to 4.70%. Variable-rate borrowers may see reduced monthly payments, while fixed-rate mortgage changes will vary. Analysts anticipate further…
Couple of birthdays, a mini road trip, and two weddings—all within a span of two weeks. These events seemed determined to conspire against our wallet. Well, except that we had anticipated them months in advance and tried to factor them into our budget. Did we succeed, or did we mess things up? For the most…
People like to flash their net worth, using it to show that they belong to the millionaire’s class, when they barely have few hundred dollars in their bank account. Are they to be believed? What is net worth anyway and is it a reliable measure of someone’s financial status and standing? What is Net Worth?…
Ever walked into Walmart, Costco, or another grocery store with a whole list of items to buy, only to walk out with just one? That almost never happens — and that’s the joke. What really happens is the opposite: you walk in for one or two things and somehow leave with a cart stuffed full…
The world of investing has been undergoing a major overhaul in the last few years, making it easier for more and more people to get into the markets, build wealth, and take control of their financial futures. With innovations in technology, the rise of low-cost brokerage platforms, and an ever-growing range of investment options, opportunities…
Recently, a family member had to be hospitalized, resulting in a 53-day stay, including three weeks in rehab. Needless to say, with the hospital being nearly 50 km away and family visiting almost daily, things quickly became chaotic—from an emotional, physical, and even financial perspective. With this being a financial blog centered around budgeting and…
The title of this article may sound counterintuitive: spending money to generate money? Well, the concept of spending money to earn more money is not new—it’s simply the basic idea behind investing. But when it comes to credit cards, we often think of them as money-sucking financial tools, yet a necessary evil we can’t live…
It hit me the other day: I have money scattered all over the place—across 4 or 5 different institutions. While the core of my finances is handled by one main bank, I realized I’m also saving, investing, and managing money through TD, RBC, Wealthsimple, crypto wallets, and employer-based accounts. How Many Accounts Are Too Many?…
If you’re like me, not a day goes by without some reminder about the price of Bitcoin or a headline related to cryptocurrency developments. It’s almost unavoidable — especially if social media algorithms are feeding off your interest in Bitcoin and crypto-related news. While I’m happily invested with a small position I bought in Bitcoin…
Imagine you’re in your early 20s, having just finished your higher education, when a wise friend approaches you and says: “I know a somewhat easy — but not simple — way to become a millionaire. If you save and invest $1,000 biweekly for the next 20 years, assuming a 7% average return, you’ll hit that…
If your next vacation is costing you and the family over $5K but have almost none of that saved, and plan to put it all on debt, stop! Yes, stop! Cancel it if you have already booked it, assuming there are no big penalties. If you haven’t booked it yet, thank goodness, that was going…
When the Covid pandemic lockdowns forced us to stay home for months and months, one of the companies to benefit the most were food deliveries such as Ubereats and SkipTheDishes. They made it so convenient to order food and relieve you from all the hassle of having to go out for grocery shopping and making…
A few days ago, I received a letter in the mail—a great credit card offer from one of the Big Five banks. At first, I thought, “This is too good to pass up. I should go ahead and accept it.” But then I paused. A little voice in my head reminded me: You already have…
The 50/30/20 finance ratio – or a way to budget – is something we talked about last year, where you dedicate 50% of your income to needs, 30% to wants and the remaining 20% goes towards your savings and investments. This breakdown is simple, effective, and ensures that your essentials, lifestyle choices, and future financial…
Ever heard of ‘Attention Residue’? The idea is that after a distraction – say a phone call or checking social media – it takes the average person about 20 minutes (often cited as 18 to 23 minutes) to fully regain focus on the original task. This is commonly known as “attention residue” or context switching…
Next time you’re eyeing that fast-food drive-thru, pause for a moment and consider this: “Sure, this meal might taste good for a few fleeting minutes, but what happens after that?” The reality is, there will likely be health consequences, whether it’s the excess fat, sky-high sodium, or heavy carbs. It’s junk food, after all; what…
One of the dominant traits of wealthy and financially successful people is that they don’t care what others are doing, nor do they go out of their way to try and financially impress their friends and peers. If anything, their very success is often built on doing things with their heads down, nothing flashy, and…
Let’s face it—budgeting isn’t for everyone. No matter how much you preach its benefits, some people will never follow or practice it. To many, it’s boring, restrictive, and just not sexy enough. Honestly, I’m sure some would rather go bankrupt than follow a spreadsheet that tells them how much they can spend and where. Want…
As I stood in the express checkout line at Walmart the other day, tapping my card and quickly making my way out, it hit me. Credit cards have made life a lot easier, more convenient, and even more enjoyable. You can buy what you want—even when you don’t have cash on hand—and delay payment until…
So you finally did it: after years of diligently and painstakingly paying to reduce your $15,000+ credit card balance, you have finally done it. To say that the weight lifted off your back is huge is an understatement! There is only one problem: this balance was incurred after having already paid a similar balance a…
For over 150 years, Canadians have been using one of the big 5 banks to do their banking, be it personal banking, mortgages or investments. But in the last 20 years, others have joined the lucrative banking and investment arena, most in the form of online banking, with no physical presence. Wealthsimple is one of…
Easter may not garner the same fanfare as Christmas—often seen as its overlooked sibling—but it still brings the joy of the Easter Bunny, colorful eggs, and cherished traditions that make the season special. But unless I accidentally bought literal golden eggs, I still can’t quite wrap my head around how my Easter shopping — mostly…
Few things in life are guaranteed: death, taxes (in most places), experiencing all four seasons (again, in most places), and the stock market crashing every few years. We are currently in one of those cycles—this time, driven by the Trump tariffs. The market is experiencing wild swings, mostly trending downward, occasionally interrupted by brief upswings—often…
Understanding and mastering key human behaviors can significantly impact your success in life, career, and relationships. While there may be a lot of them to master, here are ten essential behaviors to focus on, if you want to elevate your game and be in the top 10% of most successful. 1-Consistency and Perseverance: Success often…
Last year, I took the time to look for a better and more affordable home and auto insurance, even though the cost of my existing insurance was average and not too expensive. With a home and more than one car to insure, I set out to shop around and try to get something at least…
Do we ever get a break? Just as talk of a recession started to subside, now we’re faced with worries about mass layoffs happening all around us. And if that wasn’t enough, here comes Trump with his inconsistent messaging and constant tariff threats. Can anyone blame us for feeling overwhelmed by all this chaos? But…
Recently, life got chaotic—to put it mildly. Different family members got sick, some were hospitalized—more than once—and almost everything that could go wrong did go wrong. In other words, it felt like Murphy’s Law was in full effect. When life goes sideways like this, the last thing on your mind is money, finances, or whether…
Is it just me, or have mutual funds become virtually irrelevant and rarely talked about of least? At least to veteran, seasoned or those in the FIRE movement. To fill the void, ETFs have become all the rage in the world of investing. Exchange Traded Funds (ETFs) are similar to mutual funds, but the big…
Have you ever automated your savings, used ’rounding off’ to save money or used one credit card instead of multiple cards to simplify things? If you did any of these, you have unknowingly – or knowingly – subscribed to and put ‘nudge‘ theory into real action. So what is nudge theory and how can it…
Having lived in our current house for nearly a quarter of a century, we’ve reached a point where we need a full-scale renovation. From top to bottom—starting with paint, tiles, flooring, windows, blinds, trims, bathrooms, kitchen—you name it, it likely needs renovation. If you find yourself in a similar situation, and assuming time and money…
Following from our recent article on must-know financial and investing phrases, we have 20 more popular phrases in the world of investing and personal finance. Know and master these if you want to elevate your level of wealth and reach financial freedom faster. To some, these may just words or beautiful quotes. To the financially…
Anticipation and excitement come first, while regret and self-blame follow after the act—this is the sequence of events that occurs before and after eating fast food or a junk meal. And that is just the feeling of having eat crappy food that is not good for your health. Then there is the financial aspect, and…
Ever since Trump won the U.S. presidential election, and given his favorable stance on cryptocurrency, Bitcoin has experienced a massive spike in price. On Election Day (Nov 5), the USD price of Bitcoin was around $68K, and today, it sits at $104K—a nearly 60% increase. Of course, Bitcoin’s price can be volatile and may decline…
When I heard about this cool savings challenge, I felt a bit embarrassed. How could I have been writing about budgeting and personal finance for so long without ever hearing about or implementing this method? So, what exactly is the 52-Week Savings Challenge, and how does it work? Simply put, you start by setting aside…
There are a lot of numbers, formulas and ratios in personal finance, and one that you have likely heard of is the 60/40 portfolio or investment strategy. This is a type of investment strategy that allocates 60% of the portfolio to stocks (equities) and 40% to bonds (fixed income). This approach strives to balance the…
It is almost a cornerstone of my investment philosophy, at least for now and over the past few years: I virtually never touch a stock that doesn’t pay a dividend. In fact, not just any dividend—it has to be a good one, with a yield of at least 4% to 6%. This approach has worked…