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?…
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,…
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…
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…
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…
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…
“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…
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…
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…
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…
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…
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
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.