Archive for October 2019
Your Financial Plan Is A Compass
It wasn’t that long ago I was buried in debt and living beyond my means. Back then, financial planning was about when my next paycheque would arrive, what bills were due next, and how much I had left to spend at the bar. I remember checking my bank balance after midnight on paydays just to…
Read MoreWeekend Reading: What’s In Your Wallet Edition
My approach to credit card spending has evolved over the years. Once I got out of debt and got my spending under control, I quickly realized (if you paid off your card in full each month) that using a rewards credit card was much more advantageous than paying with cash or debit. I started out…
Read MoreBuying A House? Here Are Your Down Payment Options
Housing prices are ticking up again, with the national average price for homes sold in September reaching $515,500, according to the Canadian Real Estate Association’s latest report. Rising prices puts prospective home buyers into a dilemma when it comes to saving for a down payment. Putting down the minimum five percent on a $500,000 home…
Read MoreWeekend Reading: Passive Investing Returns Edition
One concept Couch Potato investors need to accept is that their portfolio will move up and down with the market(s). Since the essence of passive investing means tracking a particular index, or set of indices, an investor’s returns must closely mirror those of the index (minus a small fee). That notion can be downright scary…
Read MoreWeekend Reading: The Truth About F.I.R.E. Edition
A personal finance workshop held just outside of Toronto last month attracted a group of 75 financial independence seeking Canadians and Americans. This ‘Camp Mustache’ gathering was borne out of the F.I.R.E. (Financial Independence Retire Early) movement made famous by Mr. Money Mustache and has attracted followers from around the world. The Globe and Mail’s…
Read MorePreparing for the Next Recession – A Guide For The Canadian Middle Class
As a CPA and Licensed Insolvency Trustee, I had a front row seat during the Great Recession of 2009 – 2011. I saw the devastating impact it had on the lives of ordinary Canadians. These were everyday people who were for the most part honest, hard working, and played by the rules. Yet they found themselves…
Read MoreWeekend Reading: Financially Independent Entrepreneur Edition
I’ve written before about my modified pursuit of FIRE (Financial Independence, Retire Early). The twist is that I’m striving for FIE – to be a Financially Independent Entrepreneur. It’s an idea that I haven’t been able to get out of my head lately. Here’s why: For as long as I’ve been writing this blog I’ve…
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