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…
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…
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,…
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…
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…
The ultimate goal of your budget is to have money left over after covering all your expenses. To achieve this, you need to maximize your income and minimize your expenses. Here’s how: Minimizing Your Expenses Maximizing Your Income These are just a few examples of how to minimize expenses and maximize your income. While it…
It’s astonishing how easily money can slip through our fingers, often without us even realizing where it’s going. While we’re aware of the obvious expenses like gas, groceries, and utility bills, there are hidden costs that quietly drain our finances. These unnoticed expenses are like leaks in your budget—leaks that need to be identified and…
Once you have setup your first budget, the next step is to physically organize your money. That is, where you will keep it and allocate it to different items in your budget. We call it ‘Envelope Budgeting’ because you’ll typically use an envelope or a physical folder to store and organize your money. The most…