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.
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,…
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.
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)
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.
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…
In your budget, a ‘savings’ category is essential for emergencies or general savings. But what if you want to purchase something pricey, like a vacation or new furniture? Instead of dipping into savings, create a new category dedicated to the specific item…