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.
Tag: save money
How technology can simplify your finances and even make you richer
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…
What to do with new extra money in your budget? The good and the bad!
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
How to best use your Income Tax Refund?
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.
How to get started with investing for beginners
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.
Einstein called it the eights wonder of the world: Use this Financial Phenomenon to Multiply your Money in less Time
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…
How I am always creating win-win or win-win-win situations in my life
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…
Breaking the Spending Addiction : A Guide to Reconciling Your Budget and Spending Habits
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,…
Maximize Your Savings with Spare Change: A Psychological Trick to Avoid Over-Spending
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
Unleash the Power of Financial Efficiency: Cut Your Wasteful Spending, while Maximizing your Savings and Wise 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.