Posts by Robb Engen
Should An Allowance Be Tied To Chores?
Raising financially savvy children is important to me and I’ve found that the best way for my kids to learn about money is to give them an allowance. One of the first questions my wife and I asked each other – after determining how much to give and how often – was whether the allowance should…
Read MoreIntroducing RBC Payback with Points at Point of Sale
This post is sponsored by RBC. All expressed opinions and experiences are my own words. Like many Canadians, I belong to a lot of loyalty programs and have collected a ton of rewards points over the years. One knock against many of these programs is that it can take months, or even years, to save…
Read MoreWeekend Reading: Debunking The Marshmallow Test Edition
The marshmallow test is a famous experiment designed to measure a child’s patience and willpower. Place a marshmallow in front of a child and tell him he can have a second treat if he can go 15 minutes without eating the first one. The research, which was conducted in the 1960s, suggested that those who…
Read MoreWeekend Reading: Half-Marathon Edition
Two years ago I decided to get serious about my physical health and so I took up running. My wife was already a fitness junkie and avid runner. It was time for me to get moving. I downloaded one of those ‘Couch to 5K’ running apps for my phone and started running three days a…
Read MoreWhere Do You Find The Time?
My wife keeps an organizer and admits to feeling stressed if she can’t tick items off her list by the end of each day. She craves routine and finds that by writing things down she’s able to be more productive throughout the day – particularly when it comes to tasks she dislikes. I don’t have a…
Read MoreFinancial Freedom 45 Update: Still On Target
It’s been two years since we’ve checked in on my freedom 45 goals. I’m happy to report that we’re still on track and financial independence is only six-and-a-half years away! Financial freedom to me doesn’t necessarily mean retirement – more like the ability for me pursue other opportunities without the constraints of full-time employment. I’m…
Read MoreWeekend Reading: Mad At Money Milestones Edition
How much should you have saved for retirement by age 30 or 35? This MarketWatch article drove Millennials wild last week (read the comments) when it suggested 30-year-olds should have one year’s salary put away for their future, while those aged 35 should already have twice their salary saved for retirement. I’ve written before about…
Read MoreDear Generation X: Here’s How To Fix Your Finances
The number of financial responsibilities facing Generation X – those ages 37 to 52 today – seems overwhelming. Getting married, having kids, and raising a family can be expensive enough. Now factor in building an emergency fund, paying down the mortgage, setting aside money for retirement, saving for your child’s education, and everything else that…
Read MoreWeekend Reading: Gen X Squeezed Edition
Generation X, those born between 1966 and 1981, are feeling the financial squeeze. A Franklin Templeton survey made headlines this week as it revealed that many Gen Xers are being stretched beyond their financial limits. One quarter of Generation X have saved nothing for retirement, with many citing too low of income and/or too high…
Read MoreDebt Avalanche vs. Debt Snowball: When Math Trumps Behaviour
John and Erica Mullen are in their mid-thirties and have two young children at home. Together they earn well over $100,000 per year, but a combination of poor choices and unlucky circumstances have left them buried in debt. Their substantial income affords them the luxury of not having to turn their life upside down by…
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