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…
There is one extremely simple strategy you can use to get you up and running early in the new year, while giving your financial confidence and momentum a huge boost. The strategy is to commit to saving for something new, even if the saving goal is simple. For example, you can commit to a new…
Having no hangover to start a new year is always a good thing, but then again I hardly drink, so that has never been an issue for me. As the new year begins and we reflect on the swift passage of 2023, it’s time to set our sights on 2024 and make the most of…
We covered a lot in 2023 – from budgeting and paying down debt to forming good financial habits, addressing inflation, discovering new ways to save, and much more. With so much valuable information throughout the year, it might be a lot to digest. If you missed our posts or prefer a quick crash course, we’ve…
Have you experienced the exhilarating emotion of saving money, discovering that it’s not just joyous but can become borderline addictive? The journey begins with the initial thrill of saving, and as your consistency grows, witnessing your savings increase becomes an addictive delight, pushing you to strive for even greater financial milestones. Interestingly, as your savings…
Whoosh! That sure went by so fast! With just over two weeks to go in this year, it is time to do a self-review to see how you did this year, how your managed your money and whether you came ahead or not? How do you do this? One easy way to start is to…
Was my app glitching when the price shown on the screen was just over $12? It wasn’t unfortunately, as a McDonald’s 10 chicken nuggets meal does indeed cost that much, effectively what two burger meals would have cost a few years ago. Or how about my shock when a chicken sandwich combo for my son…
Salary increases are indeed a blessing that I never take for granted, especially in today’s uncertain economic times where job security is a luxury. Receiving a salary increase feels like a bonus, and even though there’s no assurance of it, I’ve already planned how to utilize any potential increase. Firstly, I won’t be frivolously spending…
We’ve all encountered the idea of sleeping on a decision before making a purchase or committing to a significant financial investment. Many of us have found ourselves caught in the ‘buyer’s remorse’ conundrum, regretting a decision shortly after making a purchase. But how about going out of your way to find a reason not to…
Transforming my life, one step at a time – my decision to create a home gym has been a financial and time-saving revelation. Beyond the obvious benefits of cost-cutting and time efficiency, the home gym has become my sanctuary, offering health and fitness on demand. No more excuses, just a few steps away from stress relief or a quick workout. While not perfect, it does the job for my needs, making it a convenient and indispensable addition to my routine
When life throws you a fast curveball, having a strong “why” will help you stay focused and resilient, enabling you to adapt and keep moving forward with determination and purpose.
Your life or someone’s life may just be one advise or lesson away from being completely different. When it comes to financial management and freedom, never shy away from advising others, or accepting advise from someone else, as obvious as the advise may be
How do you talk a baby? You talk nicely and gently but also make sure your language is clear and repeated at times. That is how money works. We need to be careful with our language and approach it so we can establish a pattern and a relationship with money. In the long term, this…
the fascinating link between personal development and wealth building goes beyond mere coincidence; it’s a well-documented connection backed by research and a myriad of studies. At its core, it all begins with the right mindset—a mindset shift that accompanies personal development
navigating financial differences is a common challenge in relationships, and addressing them is vital for long-term success. Regular communication, compromise, and a unified financial plan are key elements in ensuring a harmonious financial partnership. Couples must proactively discuss and resolve any issues, as financial conflicts can pose a significant threat to the fabric of a relationship
In our household, we proudly own two cars. The first, a 2008 model, has clocked in at a whopping 250,000+ KMs. The second, a 2012 model, boasts an impressive total mileage of over 327,000 KMs. Now, if you’re struggling to wrap your head around just how substantial those mileage numbers are, let’s dive into the…
Deciding whether to reinvest your dividend returns or spend them entirely depends on various factors such as your age, lifestyle, and financial goals. On one hand, reinvesting dividends can be a prudent choice, especially for those looking to build wealth steadily over time. On the other hand, spending all dividend returns may be suitable for individuals who have already attained financial independence or have specific yearly return objectives in mind