Is Your Mindset Affecting How You Approach Life?

THE BIGGEST FIGHT OF YOUR LIFE IS TO BE UNDERSTOOD   An important part of a mindset is to make sure that it’s not set in stone. We change, people change and life changes. It’s never good to stick your foot in the mud and live by everything you learned growing up. Your personality and beliefs don’t need to be that of your parents. This is part of becoming an adult although some people struggle to find their purpose. As we age we need to set our own foundation whether we come from money or not. Related: How A Life Changing Illness Shaped Our Financial Future If your father was a miserable man who only complained about what he didn’t have and everyone else had but did nothing about doesn’t mean you need to do the same. It’s safe to say that we learn from what we see and do and are taught from our parents. Not everyone wants to pursue those lessons as they get older but many stay in the same slump without action. I don’t understand. No one understands me. I just want you someone to listen. Most often people won’t understand why you do what you […]

How A Life Changing Illness Shaped Our Financial Future

JUST WHEN YOU THOUGHT EVERYTHING WAS GOING WELL YOU’RE HIT WITH AN ILLNESS THAT WILL FOREVER CHANGE YOUR LIFE.   I’ve been writing about money for much of the past decade but I didn’t always have my act together, financial speaking. In fact, I spent most of my twenties deep in debt, and it took a big, scary, life-changing event for me to have my financial awakening. I’ll never forget the day when my world changed. It was 2008, and my wife had complained of a headache – a pain behind her right eye, to be exact. She was in excruciating pain and nearly went blind, temporarily, seeing only red spots out of her affected eye. An ophthalmologist confirmed it was optic neuritis, an inflammation that affects the optic nerve. After prescribing an incredibly high dose of prednisone to bring down the inflammation, the doctor referred my wife to a neurologist who diagnosed her with Multiple Sclerosis. We were devastated. At the time, we didn’t know much about MS and how this disease would impact our lives. All we knew was that each flare-up of the disease caused nerve damage, which would gradually get worse over time and lead to […]

Should We Bother Renovating Before Selling Our Home?

EMOTIONALLY INVESTING IN YOUR HOME RENOVATIONS IF YOU PLAN TO MOVE WILL COST YOU MORE THAN YOU NEED TO SPEND.   Lately I’ve been quite impressed with the house prices in our area but at the same time know that if we sell the cost to renovate and buy weigh heavily on our minds. Not only that but the real estate market in Canada might be hot right now but if you have renovating to complete that might set you back with missed money opportunities. The top 3 questions next to time-frame that you need to answer before putting your house up for sale are; Should we renovate our home to get better return? How much will our renovation budget be? Do we want to upgrade or downsize buying a new house? On our street for 2017 we’ve had 5 houses up for sale all of which sold in and around a week or less.  That might sound impressive and it is because houses don’t last long living in the Greater Toronto Area (GTA). With no more than 100 houses on our street that’s a huge number of nosey neighbour radars going off. That’s us ^^^^, we admit it.   Who […]

6 Simple Ideas To Generate Cash Money When You’re Broke

THERE’S ALWAYS A WAY TO EARN CASH MONEY PROVIDED YOU’RE READY FOR A CHALLENGE   There are some ways to make cash money when you’re broke but don’t expect to be rolling in the cash without some hard work. With Spring around the corner there will be more opportunities to make cash money rather than shovelling snow and praying you win TV Bingo. Wishing on a star is the worst way to earn cash money because you’re risking losing money you already don’t have to spend.   Cashing out the Cash Money   The first thing someone does when they are broke is find every possible source of cash money then could have. A friend of ours who was strapped for cash went as far cash in her RRSP’s so she could pay off debt. I don’t recommend going this route if you don’t have to however depending on a few factors such as age such as this might be an option. If you are under 30 you’ll have a far better chance of getting back into the investing game with many years to accumulate as opposed to being close to retirement age. Staring at your bank account on the […]

How Should Couples Split Household Bills?

WHEN YOU MOVE IN WITH SOMEONE YOU SHOULD NEVER EXPECT TO PAY LESS OR MORE BASED ON YOUR INCOME LEVEL.   Moving in together is a big step for couples and with that comes an entirely new set of financial rules mainly called, splitting. When should you talk about money in relationships? Whenever it is right for the both of you but certainly before moving is ideal. Don’t be afraid to pull out the money card because if you’re thinking it then it is important to you as it should be. Living together may be economical especially if you are spending every day with someone you care deeply about however there is much to discover before you take that step. Some couples just end up moving in together without even knowing it. A shirt here, pants there and before you know it your bathroom counter shares his and her health and beauty products. What in the world just happened? You moved in together and with that comes financial responsibility. Unless you plan to fork over all the money for your partner who now lives with you, talking about splitting household bills is a good idea. Generally doing this before-hand is […]

Fixed Income Seniors Struggle To Learn How To Budget

DON’T LEAVE YOUR FINANCIAL DREAMS SCATTERED ON THE GROUND   Learning how to budget after never using one has caused two seniors we know anxiety over their financial future. If they could do it all over again they would change so much about the way they managed their money. They know they can’t turn back the clock and must face the reality of living on a fixed income with little to no retirement savings and lots of grandchildren. They are not alone as many Canadians on a fixed income struggle to make ends meet and must juggle their money to balance their budget, if they use one. Living on a fixed income is a big deal especially for seniors or individuals who rely on money from sources other than from an employer. Cost-of-living increases can cripple those who live on a fixed income especially if they have no other sources of extra money to take from. People are talking about finance and income so much these days particularly in Ontario because most people are struggling with soaring utility costs and high debt loads. Comparing a Hydro bill to a mortgage payment is not unusual for some homeowners these days. If […]

The Poorest People Are Often The Most Generous

MONEY IS ONLY A SMALL PART OF THE GENEROSITY YOU WILL EXPERIENCE WHEN FACED IN A TIME OF NEED.   A rich person may believe they are poor if they compare themselves to the next millionaire or billionaire on the block. Just about anyone can believe they are living the poorest life because of debt and low-income depending on how they approach their situation. This means that the poorest people could actually be the richest, so it all boils down to perspective. Don’t let the title fool you. When I saw a photo tonight of a boy who hardly eats handing the photographer his second lollipop. I had no words but I know the child must have done this because he knows what it’s like to go without. He knows that empty feeling and he wouldn’t wish it on anyone. Sharing comes natural to those who understand the circumstances. A research study by PhD candidate at Berkeley, Paul Piff between had the rich and the poor imagining themselves in opposite situations by viewing sympathy inducing videos. The results were the poor became less altruistic and the rich more generous. “Empathy and compassion are the key ingredients in the generosity of […]

Family Sacrifices For Financial Freedom Pays Off

BEING ABLE TO SLEEP AT NIGHT WITHOUT DEBT WORRY FOR YOUR FAMILY IS ONE OF THE BEST FEELINGS IN THE FINANCIAL WORLD   I want to earn money fast, I want to earn money now, I want financial freedom so I don’t have to worry about money down the road. There are people who constantly strive to set goals, budget, work long hours at home or away from home to make sure their retirement years are golden. What this means is that the family will make sacrifices to achieve such financial goals sometimes at an unbalanced cost. Is it really worth being away from your family for 6 or 7 days a week? For the past 2 years I’ve been that guy who is working 6-7 days a week at two full-time jobs. One is my dream job that is currently contract and the other is full-time in my field of expertise but on a different playing field. What keeps me going is my family and the fact that I can retire early if I want to and with a defined benefits package, investments and no mortgage. That fuels the frugal fire. Related: How to retire early- A Beginners Guide […]

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