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 […]

Forever Debt “Spend Money Like You Have It”: The Saturday Weekend Review #176

LIFE GIVES US OPTIONS AND WE MUST DEAL WITH THE CONSEQUENCES OF OUR CHOICES EVEN IF IT’S A COMMON SENSE LESSON   Since Father’s Day is around the corner I thought this email from a fan was fitting and likely one of the reasons she submitted it when she did. A timely lesson about wealth, money and debt. Liz learned her lesson the hard way and now she’s digging her way out of $50,000 worth of  potentialforever debt because she believed that if you spend money like you have it then everyone will think you’re successful. That’s the situation which 30 year-old Liz is battling now that she is done University, living on her own and has nothing or nobody to fall back on, not even her credit cards. The safety net which she called “plastic” has since been cut up and she was forced to put herself on a cash diet and a strict budget. Her story details the life of an entitled child who was handed choices but with consequences just like any other person. No one likes to succumb to a tight budget but you if you spend money like you have it then you must suffer […]

Are old-fashioned values worth anything?

Common Sense and Courtesy Is Not Old News It seems like these days everyone is switching things up but at some point many revert back to the old-fashioned ways of doing things because they seem like the right way to go. When I’m in the kitchen creating a new recipe in the back of my mind I’m always thinking about the old-fashioned way and how it was done back when my parents and grandparents were younger. If you want to talk to someone these days jump online to Facebook chat, Twitter or hook up via SMS to text someone rather than picking up the phone or sending a letter in the post. Spending money to have fun is more important than a simple walk on the beach or through trails to enjoy nature and spending time talking about life with your loved one or family. Money seems to make the world go round but that’s all it does, it goes round and round and round and doesn’t know when to stop. Times have changed and modern society values have changed alongside but how far is too far before we teeter on the edge of forgetting old-time values in our lives? […]

%d bloggers like this: