No matter how much money we’re paid, our income is limited by the number of hours we can work. We all have the same 24 hours in a day and there is only so much of our time that we can dedicate to working for pay. Trading time for money isn’t an isolated trap to […]
All individuals have habits! A habit is defined as a recurrent, often subconscious pattern of behavior that’s obtained through frequent repetition. To put it simply, it’s repeatedly performing the very same things over and over without thinking about it, like nail biting or snacking on food. Over spending our money can also fall into that […]
When creating multiple income streams, the goal should be to take advantage of our own potential based on hobbies, interests, experience, talents or passions that we have. Whatever we choose to create our additional income, it should take little to no money to get started. There are so many options and opportunities available, with a […]
Having to limit our capacity to receive something now for the enjoyment of being able to have something better and bigger afterwards is difficult. Waiting patiently for the future to get what we want is the sacrifice we make by only getting what we need now. Imagining and envisioning our future is challenging for a […]
The idea of waiting for things to take place is almost inconceivable for many of us, especially when it comes to our financial future. After all, we know what we want and we want it now! That is the instant gratification mindset, which affects us in all different areas of our lives, not just our […]
When we take a close, hard and honest look at the things that we consider to be needs and wants, the choices and decisions may not, and in some cases, will not be easy. The things we thought were needs and are realized as wants, now have to be put off until we get ourselves […]
It’s never too soon to start saving for retirement! Unfortunately, it’s all too common that retirement savings are not made a priority by most young adults. The hesitation to start saving at a comparatively early age for retirement is understandable, given that as young adults we see so many working years ahead of us with […]
Once we realize we’re in a debt spiral, we need to figure out how and where we’re spending our money and what adjustments can be made to stop the madness. This is where we need to be creative and/or make some tough choices (or sacrifices). Bring coffee from home or use the coffee maker at […]
If we stay focused on the health of our financial future by being disciplined with taking care of what we need (which includes paying off debt and not accumulating more) and being patient with our wants in the here and now, once we reach our goal of financial independence we will have the financial means […]
A very common and effective strategy to pay off debt is the known as the debt snowball. Picture a snowball that starts off little as it rolls down a hill, but gets bigger as it continues rolling and turns into to a snow boulder as it builds momentum! That’s how the debt snowball method works. […]