How To Build Your Wealth Without Earning Big Bucks : April Net Worth Update (+1.96%)

YOU MUST BE EARNING BIG BUCKS IF YOU’RE DEBT FREE- Not exactly.   The misconception that you must be rich and earning big bucks if you’re debt free is SO WRONG. The first thought that comes to mind when a young person says they are debt free without a mortgage is that they must have inherited money from someone. Typically the parents are the first target of interest, but does that really matter? Not really. It helps but it’s not often parents have the spare cash to dish out but for those that get that kick-start if they aren’t money-wise they could lose it all. Buying a house depending on where you live in Canada is becoming out of reach for many people especially millennials looking to get into the real estate market. A recent house sale on our street went for nearly $700,000 at just under 1400sq feet. Have a look at how much we value our house at in our net worth chart below and you’ll see what I mean. Manulife Bank issued survey results on Tuesday that suggest 45 per cent of millennial home buyers received a gift of money or a loan from family. That compares […]

The Secret Society Of Debt Freedom : The Saturday Weekend Review #217

MONEY BEHIND CLOSED DOORS IS A WAVE FILLED WITH UNCERTAINTY.   There are many secret societies of the world but the only one you should be focused on is that of your debt freedom. Why a secret society? Not many people I know flash around the news that they have achieved debt freedom nor do they explain what it feels like. It’s almost expected that people who have found the key to financial success must share it with the world. That’s fine as long as you’re prepared to deal with the aftermath and there will always be one whether you think so or not. Having money brings peace and an evil all at the same time so choosing your battles wisely is always teeter-totter situation.   Secret society invitation   If you’re waiting for an invitation it will never come especially if pretending to have money is part of the smoke cloud you’ve put on for the real world. There are no awards, no red carpet, bright lights or paparazzi going to be following those who have been inducted into the secret society of debt freedom either. You don’t have to be famous, You don’t have to have a 6-figure […]

Dangers Of Role-Playing The Rich Life Without Financial Peace : The Saturday Weekend Review #213

WHEN THE CURTAINS CLOSE WHO WILL BE THERE TO SAVE YOU?   I’ve learned that there is no in-between for people when it comes to financial success and what one would consider money failure. Many people either consider themselves rich or poor and that’s what they base financial success on rather than being comfortable in the middle. I’m not going to get into a spiel (shocking I know) about how to save money or get out of debt because I’m sure by now you should know how-stop spending money. Instead I want to focus on financial peace and what it means to you. Have you ever thought about what would bring you financial peace in your life instead of stress? If yes, how are you working towards attaining financial peace? If no, stop trying to figure it all out or pretending you’re someone you’re not for the sake of playing the lead role in a movie about your life that doesn’t exist. Related: How to say No, I’m on a budget. Unanswered questions most often become swept behind and forgotten until it’s too late. Why is it so hard for someone to say, ‘I’m broke‘ or “I just don’t have […]

grocery game monthly challenge

How To Spot Grocery Store Discounts (Saved Us $511 last year) : The Grocery Game Challenge 2017 #3 Feb 13-19

WHAT WOULD YOU DO WITH AN EXTRA $500?   If you find it amazing what you can save money on when you’re not looking imagine the savings you’d find if you were. One question we often get asked is, “How do you eat so well on a tight budget of $265 a month?” to which I reply budgeting, flyer savings, coupon app savings and grocery store discounts. Ask me that same question back in 2012 and I would have told you we were extreme couponers and deal seekers but times have changed. We went from using thousands of dollars in paper coupons every year to $15.35 in 2016. Today, our savings plan is far more balanced than it used to be. Now we take the grocery store discounts approach paired with eating less, using coupons, applying coupon app savings and rewards points etc. Back then rewards point programs were ramping up outside of the credit card world which gave Air Miles a run for their program. It became clear that consumers wanted to be rewarded for being loyal customers. The start of war of the rewards programs began and quickly evolved into which company could rope in the most customers. […]

5 Vital Personal Budget Audit Questions To Consider

DEBT FREEDOM CAN HAPPEN AS LONG AS YOU PREPARE, EXECUTE AND EVALUATE.   A budget audit really is serious stuff not to be missed or forgotten. No excuses. If you don’t care about how your budget is working for you stop reading this post now and get on with your day. If debt freedom is on your to-do list then continue to learn how we audit our budget and the importance of continuing to do so even when you have no debt. Become a leader and do not simply focus on short-term results or you’ll miss important financial opportunities. Giving your budget the once-over is never enough especially if you are serious about saving money, paying bills and becoming debt free so you can continue to build wealth. This is your opportunity to be the big boss, the one in charge of something so important that it could make or break you financially. How do you think the rich get richer? Well, not all of them do but when you have money you can build your empire if you do it right. I can assure you the financially savvy rich folk don’t spend money frivolously unless they have so much […]

There And Back Again: A Spenders Financial Journey

A Spenders Financial Journey I’ve read that our ideas about money are formed in childhood and can shape how we deal with our financial journey well into adulthood; I know this was certainly the case with me. I was raised in a single parent home for a big part of my childhood and money was always a very scarce resource in our house. Growing up, I believed money was a wild and unpredictable thing that would come and go with a will of its own. Maybe the magical money fairy would grant us enough to pay our bills this month or maybe not… Looking back, I don’t think our family was on the verge of financial ruin, I believe it was more the emotional response to our situation that helped create my chaotic ideas about money. I both loved and hated money and I had no idea this wasn’t a reasonable response to a socially agreed upon method to transact goods. Money Came and Money Went Fast forward a few years and I am entering college: I am armed with two credit cards, student loans, and a vague idea of what I want to do with my life. Like many […]