New year resolutions are everywhere, and they are dime a dozen. And frankly, you are probably sick of seeing and reading about them, so I won’t give you more of these. Instead, I do want to talk about a few things you can do in the beginning of the year, to ensure you have a…
As we close out the year, it’s time to reflect on the lessons that shaped my financial journey. Over the course of 52 weeks, I’ve uncovered practical, transformative insights—from boosting savings to mastering passive income. Here’s a roundup of the most valuable lessons that can help you level up your financial game in 2024. (also,…
If you want to enjoy your journey in personal finance, it is to keep things simple and focused on clear, achievable goals that align with your vision of financial freedom. With that being the case and in my effort to simplify my dividend investment plan, I have done the hard math to be able to…
As the year winds down, I’ve been reflecting on my podcast journey. This year, much like 2023, I immersed myself in the world of podcasts, tuning into 150+ different shows and racking up a total of over 1,450 episodes. Assuming an average episode length of 30 minutes, that’s 725 hours of listening—nearly a full month…
Do you feel like you are getting old without much to show for it in terms of wealth building or retirement savings? This is a fear that increasingly more and more people are starting to feel, especially those approaching their 50s or 60s. One way to avoid feeling fear and be as financially ready as…
When it comes to investing, things can quickly get complicated, or you can choose to keep it simple. One way to simplify investing is by opting for index funds, which have been gaining popularity over the last two decades. However, even index fund investing can become overwhelming when faced with the task of choosing from…
My older child seems to want it all—whether it’s food, toys, online games, or school expenses, you name it, he wants it and thinks money is in infinite supply. Recently, we returned from an amazing cruise vacation, which also included some wonderful time in Florida, visiting the incredible Universal Orlando parks and having an overall…
You may not realize it, but your choice to commit to an expensive annual gym membership or to take on a $500 monthly car payment for a new vehicle could be tied to one factor: not getting enough sleep! While other influences affect decision-making, sleep is high on the list. After all, there’s a reason…
Have you ever been in this situation? You’re making steady progress, regularly paying down a significant debt. But then, your last big payment of $450 was essentially neutralized by your annual $450 gym membership. In other words, you took one big step forward, only to take another right back. Sure, you need your gym membership,…
In a previous post from September, we covered some famous adages and sayings from the world of personal finance. In this post, we go over other adages and sayings, but this time from the world of investing. These timeless investment adages serve as guiding principles, offering simple yet profound advice for navigating the complexities of financial markets. Each saying offers a unique perspective, but together, they emphasize the importance of discipline, patience, and an informed approach to investing. Integrating these principles into your own strategy might not guarantee success, but they provide a solid foundation for making smarter, more resilient financial decisions. Remember, investing is a journey, and the best strategies are those aligned with your financial goals, risk tolerance, and market understanding.
We recently returned from an incredible vacation, spending a week aboard the stunning Wonder of the Seas by Royal Caribbean, along with a few days exploring Florida before and after the cruise. While in Florida, we were fortunate to enjoy some beautiful beaches, explore Universal Orlando’s Islands of Adventure and Volcano Bay, and even had…
If you’re new to the world of investing, you’ve likely encountered terms like index funds and ETFs, which have recently gained significant popularity. These are examples of “directed investments,” appealing for their hands-off approach, low costs, and other benefits. On the other hand, there is the traditional method of investing, where individuals research and select…
As part of my investment strategy, my portfolio is spread across several accounts, including a work-funded account and others where I pay no transaction fees. Additionally, I set aside a fixed amount each week, and once it reaches a certain threshold, I use that money to purchase new investments, such as stocks, bonds, or ETFs….
Ever considered saving for a sunny day, instead of the old adage about saving for a rainy day? And I mean this literally—saving for that sunny day at the beach, or whatever your version of sunny is. If saving for a rainy day sounds dull and uninspiring, why not reframe it into something more positive…
The formula for becoming wealthy and financially independent is fairly simple, though applying it can be challenging. It goes like this: save and invest as much as possible, starting as early as you can. If you begin in your early-20s, you could achieve your wealth goals by your mid to late 30s, rather than having…
When navigating the realm of personal finance, it’s easy to get lost in a sea of terms, adages, and sayings. While some may be immediately clear, others can be more nuanced. Understanding the meaning and intent behind these phrases can significantly enhance your ability to manage your finances effectively. After all, enduring proverbs and sayings…
Following on our original post on ’10 Life-Changing Books on Wealth and Personal Growth: Discover the Secrets Behind Their Impact’ , here are some lesser-known but impactful books on wealth and personal development, along with their key theses. I would like to confess to have never read number 2 and 7 on the list, but…
In today’s fast-paced world, everyone is looking for ways to save time and make the most out of their resources. As someone who runs a budgeting and finance blog, I’ve always been interested in finding innovative ways to optimize financial outcomes. Recently, I had an experience that showcased how AI can transform even the simplest…
How do you achieve financial freedom and independence? Should you sacrifice it all now in order to have a better life down the road? Truth of the matter is, you can actually do both! The key is to balance aggressive saving with intentional spending to live your life while building for the future. In a…
I recently came across an eye-opening article titled “‘I don’t have a budget’: Why people are going into debt to travel,” which left me both shocked and reflective. The article explores a troubling trend where 25% of Americans are willing to go into debt to fund their vacations. This behavior is influenced by societal and…
I’ve been actively investing—and even dabbling in stock trading—for over 15 years. Yet, in a twist that surprises even me, it wasn’t until this year that I finally ventured into the world of index funds, those elusive ETFs I’d somehow overlooked for so long. Why did it take me so long? And more importantly, what…
If you are new to the world of personal finance and budgeting, or just don’t bother getting your money matters in order, the 50/30/20 rule may be just for you. What is it exactly and what do these number represent? it is a finance ratio used to simplify the way you divide your money, where…
“This book changed my life” is a phrase we often hear, and it is true, as books have the power to change someone’s life in profound ways. In my almost two decades in personal finance and development, I have come across various books that others have cited as life-changing. While the list varies for each…
The more I delved into investing over the years, the more I kept reading about the ‘never sell a stock’ crowd, those who refuse to sell virtually any of their good stocks, even if the revenue from it could bail them out of jail! But after my own experience with investing for the last 15…
Have you ever wondered what your tipping habits say about you? No one ever got poor by giving to the poor or helping the needy. It seems counterintuitive, but the opposite is true: the more you donate and help those in need, including how you tip, the more assured you become about your wealth and…
If you are someone who thinks finance and money management is too boring, stressful, or just complicated, then I have an easy solution for you: automation! Automation, in this instance, refers to setting up systems and tools that automatically manage various aspects of your finances without requiring constant attention. This can include automatic bill payments,…
Creating a budget with a variable income requires a slightly different approach than budgeting with a steady salary, since your income fluctuates from week to week, month to month, and so on. In other words, instead of relying on a fixed income every two weeks, you are at the mercy of your sales, commissions, bonuses,…
If given the choice, would you rather achieve financial security, freedom or security? If you are a bit confused and not sure which one to choose, don’t worry, most people are. In fact, we think all these represent one and the same concept of being financially set. And while that may be true, there is…
It had been sitting on my Kindle shelf for years, but I never got around to reading it until this year. Grant Cardone’s book “The 10X Rule: The Only Difference Between Success and Failure” is one of the best personal development books I have read. I regret putting it off for so many years while…
Is it just me, or do you spend a lot more money during summer than you usually do the rest of the year? There are more things to do, more places to be, and more friends to be with. This all requires more money than you would otherwise normally spend. I am not necessarily talking…
Last week, we had Part1 of our series about mind-bending paradoxes of wealth, happiness, and economics. Given the popularity of that article, we are doing a second part, delving deeper into more intriguing paradoxes that challenge our understanding of financial well-being and contentment. Let us get into it! The Stock Market Rollercoaster: The stock market…
In the complex world of economics and human behavior, not everything is as straightforward as it seems. Our beliefs about happiness, wealth, and consumption are often challenged by paradoxes that reveal unexpected truths. For those not fully sure about a paradox and what it means, it is simply a situation or statement that appears to…
Social media envy is real, but for me, it’s something somewhat related: I have what I like to call ‘social media curiosity.’ While not very active on platforms like Facebook, X, and others (fact: I have never had Instagram, Snapchat, or TikTok accounts), the occasional times I do go online, one very common post I…
Last week, I wrote about how a simple switch of insurance providers has helped me save $100 per month. This week, and as promised in my aforementioned article, I am going to cover in more details about how I am spending this saved money. While $100 may not seem like a lot to some, when…
Recently, I did the math and realized I was saving just about 21% of my net income. While this is good considering my living situation, family expenses, and other factors, I thought it would be even better to increase my savings rate to 25%. However, without making major changes or sacrifices, I couldn’t just boost…
Emergency Fund is one of the most discussed, and often very confusing topic for a lot in personal finance. Not only do some people not have one, those who do often fail to understand its basic premise and how to best use it. First, let us try and define what an emergency fund is in…
I will never forget the day I used ChatGPT for the first time, shortly after its release in late November 2022. I asked it a seemingly simple question: ‘What date was 900 days ago?’ As a new tool, it was reasonable to expect it to handle such a basic query. However, it fumbled the answer…
It was a simple promotional message from a local telecom company that I would otherwise usually ignore. But I am glad I did not! Last week, I got a message about a mobile offer from Rogers. At first, I didn’t pay much attention to it, after all, I have been with my current carrier (Fido)…
Are you a financial hermit? You know, the alternative to being labeled as cheap or frugal – someone who avoids socializing, going out, or engaging in activities that involve spending money. While maintaining such financial discipline requires hard work and dedication, it can also be draining and unsustainable. Instead of embracing financial hermitage, consider more…
Many of us can relate to this scenario: after diligently paying off our credit card debt, we feel a surge of relief and accomplishment. However, it’s disheartening to see our debt slowly creep back up over time, ultimately leading us to realize that we’re on the verge of starting the debt repayment journey all over…
If you follow tech, you will notice an interesting trend over the last 2-3 decades or so:First, you have Microsoft driving away with the personal PC operating system market, leaving Apple and others in the dust. The Windows operating system has achieved near 80% dominance in the market for over 2 decades. Then there was…
What comes to your mind when you hear the words ‘wealth’ or ‘wealthy‘? most of us likely think of money, fancy cars, big houses or mansions, yachts, humongous bank accounts and so on. Some may even have the image of Jeff Bezos, Elon Musk or Bill Gates on their mind. But few think of wealth…
As the annual income tax season looms, it’s essential to approach the process with foresight and preparation. Whether you’re eagerly anticipating a refund or resigned to the prospect of payment, ensuring a smooth experience hinges on meticulous organization and attention to detail. By gathering all necessary documents, such as T-4s and tax statements, and thoughtfully…
When was the last time you said to yourself: ‘I am spending too much; I better start saving’? On the other hand, when was the last time you said to yourself: ‘Man, I am saving too much money and need to start spending more’? The first question is not only more likely for the vast…
We’ve all been there: striving to achieve a particular goal, whether it’s shedding pounds or mastering a new skill, only to find ourselves faltering with each attempt. But why does this happen? Weren’t we told that setting goals is the key to success? While setting goals is undoubtedly important, it’s just the beginning. Merely establishing…
Getting started is better than waiting for perfection or never starting at all. When I first ventured into investing around 2009, I didn’t possess much knowledge, but I was eager to begin and gain some experience. It turned out to be a challenging start, marked by various mistakes that ultimately contributed to my growth as…
On a recent grocery shopping trip, my eyes were intrigued by something completely unusual. It was something I had never seen before, or at least in my 28+ years of grocery shopping as an adult. No, I didn’t come into contact with a smart robot that was there to shop for its human owner, nor…
It is a familiar scene we have all come to experience while visiting Costco at one point or another: people pushing carts full of food and other items, barely able to push them due to how loaded they are. In fact, many of us have likely seen some with two carts, as if they are…
As I was reading Meta’s impressive and out-of-this world earning numbers, few things came to mind: Why didn’t I invest in Meta’s shares two years ago when it was still called Facebook, with prices ranging from $90 to $210? I did consider it then, but hesitation and various factors held me back. It’s a significant…
Have you fallen off and given up on your 2024 resolutions yet? Whether you have or not, we have an easy challenge for you to follow, even if the year is already close to one month old. In fact, it’s a good idea to start this one now to get back on track in case…
Wait a second! How did my Netflix monthly cost go up more than 200% without me paying much attention? I remember, not too long ago when it was $7.99 but has somehow skyrocketed to almost $24! In fact, since March 2020 – right when the Covid Pandemic were starting – the price has gone up…
The holidays are officially over, and it is time to get back to routine, work, school, saving money and paying off debt accumulated last few weeks. As we do every year, we spent December acting as personal charity with our time and money, giving to family and friends, helping those in need, attending parties and…