When I was a very young girl, I’d heard about a marital method of allocating money to both present and future goals that made a lot of sense to me at the time. Essentially, in a situation where both spouses worked, the household’s present needs would be paid for from one paycheque while the other […]
We Canadians pride ourselves on our free healthcare system. However, I’m the first to admit that the Canadian healthcare system is not perfect and that there are challenges which will get worse as more and more of us age and try to access the resources and services simultaneously. However, it’s still better than the experience […]
How many of you have heard of coasting to financial independence once you’ve hit a pre-determined target for your investment portfolio? It’s a concept known as Coast FI. I first learned about it in a post from Military Dollar. Essentially, Coast FI means that you can stop contributing money toward your goal of financial independence once you’ve […]
I’ve made my share of mistakes when it comes to money. One of my biggest mistakes was waiting 5 YEARS before I started investing in my non-registered portfolio of dividend-paying exchange traded funds (ETFs). I paid off my house when I was 34 but I waited half a decade before I started investing in […]
Debt is a cancer to building intergenerational wealth. The phrase intergenerational wealth conjures up images of the very, very rich who are able to bestow entire empires upon their progeny. Truthfully, the concept doesn’t require anything quite that elaborate. My definition of intergenerational wealth is the ability to provide financial assistance to your offspring in […]
If you have a mortgage, then you should have some kind of insurance in place to pay it off just in case you die while the mortgage is outstanding. My suggestion*** is that you get a life insurance policy that is sufficient to cover the full amount of your outstanding mortgage. This way, the life […]
One of the things that I’ve learned over the years is that the principles for saving money are the same whether you’re coupled or a singleton. Pay yourself first… Live below your means… Invest in the stock market for long-term growth… Always have an emergency fund… Buy the proper insurance… Use low-cost index funds […]
I’m a huge proponent of the Tax Free Savings Account (“TFSA”) and encourage everyone I know to stuff their TFSAs to the max. The beauty of this product is that money grows tax-free and you won’t owe any taxes on the growth of the money when you eventually withdraw it. You can fill it with […]
I recently finished two books about poverty – Evicted: Poverty and Profit in the American City by Matthew Desmond and $2.00 a Day: Living on Almost Nothing in America by Kathryn Edin & H. Luke Shaefer. The stories that were shared within their pages will stay with me for a long time. I’m not an expert on […]
I’m a visual leaner so when information can be presented in a picture, then I absorb it a lot faster. That’s why I was so damned impressed when I came across the following link on one of my travels through the Internet: Cash Flow Diagrams. In all honesty, this is one of the best links I have […]