How To Go Broke Quick In 5 Easy Steps : Our Net Worth Update Jan 2018 (+0.39%)

THE PURSUIT OF HAPPINESS STILL HAS TO PAY THE BILLS   If you want to learn the secrets about how you can go broke quick, I’ve got you covered. It’s not about wanting to earn more money it’s about understanding why you don’t have any. Often it’s easier to see outside a pane of broken glass than it is through a foggy window that seems like it will take forever to defrost. Instead of waiting some people decide to jump out the hole where others will wait for the heat. Why on earth would you want to read about how to go broke quick on a blog about frugal living and budgeting? One simple answer The only way up is making sure you’ve got a ladder that is on solid ground. This means understanding what NOT to do even if you think it’s financial common sense. You might be saying, “I don’t need to find out how to go broke quick, I am broke“. That’s fine and dandy but do you really understand what you got you to this point? I’m not talking about excuses either because those people you pay your bills to, don’t care. It really is painful […]

3 Money Smart Strategies We Applied In Our 30’s To Erase Debt

DO SOMETHING WITH YOUR MONEY THAT YOU NEVER THOUGHT POSSIBLE   It’s still hard to believe that we managed to become debt free including our mortgage before the age of 40. We credit our success by applying simple money smart strategies in our 30’s that got us over the hump. You don’t have to have a degree to become a money smart consumer especially when tackling debt is a matter of choice. You either do it, or you don’t but the end results will be in part the actions of your willingness to erase debt and get the hell out of the rat race. Did you know that Canadians are world leaders in debt. Not something to be proud of really. A report from the Organization for Economic Co-operation and Development (OECD) shows that Canadian households are among the most indebted in the world. In fact, Canada tops the list of countries surveyed.   Debt never sleeps   If you’re one of those people who can’t sleep because you’ve got debt on the brain, you’re not alone. Debt freedom opening hours are all day every day especially when you’re dealing with your financial future. You may sleep but your money […]

How To Create a Results Driven 2018 Personal Budget Plan

A BUDGET IS NOT JUST ANY BUDGET, IT’S YOUR BUDGET   At the end of each year and during the first month of the new year I often get social media bombed by readers of this blog about creating a personal budget plan. This is great news though because it tells me two things; You want to learn more about budgeting You care about your money It is often this time of year when debt weighs heavy on people because we’ve just finished Christmas and the new year signifies fresh beginnings. I feel as a finance blogger who specializes in budgeting, debt and frugal living that I should always send out a yearly reminder about the importance of budgeting for everyone. This is why financial and personal goals start at the beginning of the year for most people at which time they are 100% committed, for a minute and then forgotten. Don’t lump yourself in that pile because you’ll never get ahead without that drive to succeed. By all means you don’t need to use a budget to be successful but I fully believe that using a budget will always outweigh not using one. Not everyone who wants to start […]

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 […]

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