Once you’ve reached the point of saving to give, like with any other point of saving, start with what we can. Whatever way works best for your individual situation and/or strategy. You might hear of preferred or recommended ways of doing this, but there is no “right way” and the only “wrong way” would be […]
When it comes to your finances, being money focused is essential. And just to be clear, having a money focused mindset isn’t about being greedy. Any successful investor will tell you fear and greed are the two biggest enemies when it comes to money, so greed is not at all part of the equation in […]
There are two opposing forces in finance called assets and liabilities. The difference between assets and liabilities is simply put in this way…an asset is something which generates an income. Or said differently, puts money in your pocket. And a liability is something which is an expense or takes money out of your pocket. That’s […]
When you set up your budget, you find ways and areas to reduce your expenses. You get your spending under control, you live below your means, you find ways to increase your income, you get your debt snowball rolling, you learn to pay yourself first to save for your emergency fund and of course…..you also […]
When the amount of your bills is greater than your income, it’s safe to say…you’re in trouble! The very simple concept of having more money going out than you have money coming in doesn’t take much to figure out. It’s when you find yourself in situations like this that you’ll only keep adding to your […]
When you hear talk about the need to increase your income, it doesn’t necessarily have to be a significant increase. You don’t need to get too caught up in how much you’re able to increase your income at first, but more about using that extra income toward paying off debt or putting it toward savings […]
Chances are that the level of debt that you have is in direct proportion to your earnings which is exactly where your comfort levels lie – not so much debt to keep you awake every night, but just enough to appreciate life and your hobbies at your maximum level of income. Living your life on […]
Taking care of your finances is not an easy task or at least not an enjoyable one in most cases! But what is easy, is the availability of credit, with high interest rates. When you couple that with a lack of understanding basic financial principals, you’ll find yourself falling into bad money habits and ultimately […]
The path to financial well-being is going to take eliminating or at the very least reducing the amount of debt that you owe. A very common and effective strategy to help you to pay off debt is the known as the debt snowball. It’s a fairly simple strategy to apply as long as you’re committed […]
A simple financial principle that many people don’t incorporate into their budget is to consider that saving money is an expense. Some people may have a hard time understanding the idea of paying yourself first, let alone applying the concept. Let’s face it, after paying the rent/mortgage, utilities, car payment, insurance, credit cards, etc., more […]