The COVID-19 pandemic has fundamentally changed the way we live our lives, forcing us to stay at home and rely on technology more than ever before. While platforms like UberEats, Amazon, and TikTok were already popular, they have become ubiquitous during the lockdowns, to the point where they are now virtually synonymous with the pandemic…
The power of habit is a powerful tool when it comes to building wealth and be financially independent. By developing good financial habits, such as saving, tracking our spending, and investing, we can set ourselves up for financial success.
Imagine how banking used to be done just 10 years ago, never mind 20 or 30 years ago: If you wanted to send money to someone or pay a bill, you would usually have to go to a bank, thus wasting time and even gas driving there to do your banking. Yes online banking has…
When new money comes to you or is freed up from your budget, you are free to spend it as you like, since it is your money after all. But there are better uses for it than to just spend it. Think of this as money you never had, hence it doesn’t make sense to just blow it on useless purchases
Reading books is great but how much do you remember from them after you are done and what can you do to get more of out them, days, months and even years after you finish them? Read these tips to find out!
Getting an income tax refund is great, but deciding what to do with that refund is even more important. What to do with it and how to save it, depends on personal cirmrutances, but some combination of saving for RRSP, paying down debt, general savings, would be preferable.
It is safe to say, no billionaire – and most millionaires – would have reached their level of financial success, without some form of investment. Investment doesn’t have to be about stocks or mutual funds, and may include buying land, investing in a business, real estate etc.
Albert Einstein once said “Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it” . If something has the backing of arguably one of the smartest people in history, you can surely trust it! Compounding is the process whereby interest is addedto an existing principal…
We have all heard of popular sayings and expressions like “Win Win”, “Two birds with one Stone” and other similar ones. The idea here being that we should be more efficient in life, careers, finances, by doing more with less. In other words, use one hand to do two different things and 2 hands to…
As it should be clear by now, our personal budget is a way of controlling our unlimited wants to match our limited incomes. We only have so much money to spend, save and enjoy. But what if your budget just can’t accommodate your excessive spending? So much so that your paycheck doesn’t cover your spending,…
What do the following 3 have in common? -eating your fruits and vegetables, and avoiding junk food-reading books and enriching your mind with positive thoughts-socializing and connecting with educated and knowledgeable friends If done holistically and on a consistent basis, these three will ensure the future version of you is a super one. One that…
Having spare change handy is not just about convenience, it can also help with saving money and limiting the potential of over-spending. Learn how this simple psychological trip can go a long wy
Financial efficiency is key to achieving financial freedom and climbing the wealth ladder, but it seems to be lost on many on what it means.
Finding good deals on vacation packages, flights and cruises can be time-consuming and stressful, but by following some easy tips, it’s possible to have the perfect vacation at the most affordable price possible.
In 2022, I implemented a resolution to cut down on junk food spending and save that money instead. I succeeded in sticking to my goal of only buying fast food once a week, resulting in 24.5 lbs weight loss and $625 savings. Better yet, I continued this success in 2023. This resolution proves that one effective decision can have a positive impact on multiple areas of life.
There are many powerful concepts in the personal finance literature to get you to financial freedom, but none are as important as that of paying yourself first (PYF)
Cryptocurrency and Bitcoin have become increasingly popular investment options for investors in the last few years. While some see them as a high-risk gamble, others may see them differently, as a potential opportunity for significant returns. So, should you consider cryptocurrency and Bitcoin when investing or as a way of diversifying your investment? First and…
Setting new year resolutions can be fun and complicated for some at the same time. Make it simple by setting one main goal and stick to it no matter what.
As inflation eats into our hard earned and saved money, it is time to fight back by making these simple but necessary cuts to our spending.
While some people still prefer the look, smell and touch of flipping through a physical book and having that cozy home library feeling, a Kindle E-Reader has a lot of benefits when it comes to space, time and money you could save
We have all heard of an emergency fund, where you set a set amount money on the side to use for a rainy day and the unexpected, be it expensive car repairs, medical bills, home issues or anything else that you couldn’t have foreseen and would cost money to tackle. And while most probably have…
One of my goals for 2022 is to get active with push-ups. To be more specific, I set to do 10 push-ups a day and increase that by 1 extra push-up per month. So for January, I started with 10 a day and I have since increased that to 11 a day for February. For…
On October 31, 2015, I celebrated my 35th birthday. That was also the year I had became a father for the first time. Needless to say, it was a year full of milestones, changes and things to reflect on. That evening, after having taken my 6 month old son to visit relatives for his first…
Have you ever had a job, stint or contract, which is long in the rear view mirror, which you are not only happy it is in the past, but was a bad experience? We have all had these jobs and experiences. But not appreciating that job is different from gaining something out of it: if…
I am no slave to junk food. I may eat it once or twice a week, sometimes with the family. But despite it not being a daily habit, it still goes a long way towards causing damage to both my pocket and health, especially with the rising prices for food of late. So for 2022,…
If you get a significant pay raise, what do you do with the extra money? Say you get a 10% raise or $5K, assuming that works out to $175-200 per pay. Do you just spend it? Do you allocate to a category in your budget? Or do you pretend like you never got it and…
Are you struggling with gift ideas for that kid who has everything already, at least materially speaking? have you already bought every LEGO set out there? If you have more than a few kids in the family, be it your own, nieces, nephews or your friends’ kids etc, then chances are you have already bought…
My daily walks are more than for health reasons, they help me get wealthy and learn on the way too….
When is the best time to update and polish your resume? This may seem counter-intuitive but the idea is simple: do it when you are stable in your job and feeling good about your future than when you are desperate. In the popular book ‘Think and Grow Rich’ , Napoleon Hill argues that the reason…
The field of self-help and psychology in general is full of different techniques, concepts and tricks to accomplish your goals, get more done, and make it easier to manifest more in life. Two recent, unrelated events, gave me the chance to use these tools and although both happened around the same time, the two are unrelated, but do at the end of the day help us get more out of life in general.
Las Vegas and budgeting are not two words that you can`t easily mix. If you go to Vegas,you will have to open up your wallet and be ready to spend money. There is no other way to do it, otherwise you may just stay home and not bother going. Or is there? Yes there is!…
Netflix-Starbucks-Amazon : the axis of time, money and space misuse!
If 2020 was defined by a pandemic and lock-down, and nothing else for you, you still have time to make 2021 better and more productive year. Start by set some goals or even short term objectives.
I am no gambler or a gambling addict. I go to the casino when I am on vacation and happen to be close to a casino (Vegas anyone?) . And where I live, I rarely go to the casion. So the whole thing is like a novelty to me. However, ever since OLG (Ontario Lottery…
I know a friend who has no real job. At least not in the traditional sense of the word, you know, the 9-5 one. But if you are talking gigs, then he has 3 of them going on at once. Maybe even 4 at times. Let us call him Mr. Gigsmith (name changed for the…
It seems like the Canadian dollar exchange rate vs. the US dollar has been stuck around 75 cents for ever! Well, it has been at this level for at last a year and it is unlikely to change anytime soon. And with the Canadian economy not doing so well of late and job numbers being…
Our family saving approach has been pretty effective, but we though it can get better, especially if we want to save to buy a new bigger house in the future. Seeing where house prices are heading, it will take a full and committed effort from both of us to save a good chunk for a…
Tangerine now its own credit card which it brilliantly like to describe as a card that lets you ‘Spave’ (Spending + Saving) . I have been using the Tangerine cash-back Master Card for a few months now and I really like what I see. Based on my usage of the last few months, I will…
What are the best places or spots to find money in the form of loose change in public? speaking from personal experience, the list of three places below is guaranteed to help you find money the next time you happen to be in one of them. Remember, take it only if the money can’t be…
The banking industry is changing. It is currently undergoing one of its biggest shifts. The future is all about technology. Your bank’s mobile app is slowly but gradually replacing your visit to your local branch. And as more people become comfortable with banking on their computers and smartphones, there will be less and less need…
There seems to be so many different creative approaches that people follow in order to pay off their credit card balance. We decided to come up with our own in order to eliminate $6,500 in credit card balance. To begin with, it is not that we weren’t already making payments to reduce and even eliminate our balance….
Do you know what TFSA stands for? ‘Tax Free Saving Account’ you say? you got it! But do you know what that means exactly? well most people think they know, when in fact they don’t. Why? the simple inclusion of the letter ‘S’ or the word ‘Savings’ throws people off. People assume and treat TFSAs…
Charitable donations are just that: it is a way for people to donate from their money to help those in need. That is how it should be treated and not a way to get a tax advantage. However, and having said that, the government does make it possible to get a tax credit in exchange…
Is it time they renamed ‘New Year’s Resolution’ to ‘January’s Resolution’? Let me explain… Increasingly, less and less people are making any new year’s resolutions. The reason is simple: before January is even over, they will have declared it a failure and just move on without their resolution for the rest of the year. Whether…
If you have a credit card, chances are you get some form of loyalty rewards for using it. Some get points, others get travel rewardss or airmiles while the latest craze is ‘cash-back’ credit card. Each has a preference and every card has certain advantages, but personally, I use the “Signature RBC Rewards Visa” ….
The web is full of tips on how to save money on gas and have better fuel efficiency. Some are creative and can save you money while others are useless or we already know about. Here are some of my personal favourites which I apply myself. -Gravity is your friend: why even press on the…
Nepotism can be bad, as it overlooks talent in favor of hiring and giving preference to those who are related to the people with power. But it can also be good for the environment, especially when family members work for the same company and share the same ride to work. Nepotism can mean smart commuting….
Ever read such books as ‘The Science of Getting Rich‘ or ‘The Power of your Subconscious Mind‘? If you did, then you know what I am about to talk about: how much of your wealth accumulation do you attribute to your positive thinking, believing in the ‘Law of Attraction’ etc.? In other words, do you…
In the last 5 years or, house prices in Canada have gone up dramatically, especially in major cities like Toronto and Vancouver. This got me thinking: could it be that so many people are saving for a down-payment , and as a result, they don’t spend this money on other things that would otherwise revive…
The expenses never seem to end. But neither does my determination to lower my credit card balance and eventually make it disappear completely (balance of ZERO dollars!) It has been a big struggle to keep our-myself and my wife-credit card balance under control. Just when you thought you have made some progress, comes a wedding…
No one can resist the temptation: you find an item on Amazon, and even after accounting for shipping expenses, it still comes out cheaper than what you would pay if you were to get the same item at a local store. I, too, have done this in the past, but not as much as others…
Based years of job searching and trying to find jobs for family members and friends, I have realized that one of the best and unknown ways to get a job is to look for companies that are desperate. Let me explain what I mean by this. When a company suddenly has a need to hire…