All posts by admin

    We need it, we think about it, some might even salivate over it. So why is it then, when we utter the dreaded m-word, it makes us want to crawl under a rock, never to be heard of again? Being open about money doesn’t necessarily mean going out and sharing in detail how much you make and what you spend on to everyone you meet down the street. Certainly not. It’s more about what gives us the heebie jeebies when it comes to talking about money with friends and family. Take Kate Dore, blogger from Cashville Skyline. She … Read More >

      As you might already know, the point of this blog is to help you become more financially aware so you work less and earn more, pay less in taxes and increase your net worth quickly and easily. Towards that end, I would like to share a couple of anecdotes with you every now and then since nothing can ways the message better than telling a story because as they say, a picture is worth 1000 words. So let me paint a really interesting and thought-provoking picture for you. I have a really good friend of mine who … Read More >

  According to the Cato Institute, 80% of millionaires in the US are first-generation millionaires. That means they did not inherit their wealth… they earned it. This post will share stories and examples of how real people create real wealth. If anything mentioned here seems far fetched to you, I invite you to find millionaires you can speak with one-on-one. See what they are doing. Chances are, they are first generation millionaires with profound insight. I’ve become pretty interested in becoming rich myself. It’s led me to talk with many rich people, watch YouTube videos about the wealthy, read articles … Read More >

Can You Be Affluent If You Earn Only The Median Income

  Have you heard of Ronald Read? He was a gas station attendant, and later a part-time janitor. He didn’t make much his entire life. He drove an old car and was often seen wearing tattered clothes. But Read had a secret. Instead of spending the modest amount of money he made, he invested it. He enjoyed putting his money into dividend producing stocks. Oh, and he died a multimillionaire at the age of 92. Want to know Read’s other secret? While not the norm, his story isn’t impossible.   Why? Because being wealthy isn’t all about how much you … Read More >

Lack of financial knowledge

        I’m going to let you in on a little secret, many people don’t know a lot about budgeting, saving, credit and investing. Are you surprised? Probably not if you’ve had any recent conversations about money with your peers.   According to the NFCC Annual Financial Literacy Survey, sixty-one percent of U.S. adults admit to not having a budget and forty-one percent gave themselves low or failing grades based on their knowledge of personal finance.   My first thought after reading a statistic like this is; if money issues are causing people this much trouble shouldn’t financial … Read More >

Retirement saving plans are an interesting concept.  On the one hand, they give you a reason to invest money for your retirement, since contributing to your retirement ensures that you do not get taxed on that income right now.   

If you haven’t noticed already, things are very different from how it used to be in the past.  Many people nostalgically say: “The past is long gone”.  Some also say “The past will never come back”.  I tend to agree with them.  Even though I am only 30 years old, I can relate to older, simpler times, when people were less busy, when the cost of living was low and when people used to live in closely-knit communities. Nowadays things seem to be different.  People, especially those in developed countries, always seem busy; they are always running around. The cost … Read More >

“Study hard in school, get a good job, work hard at that job so you can retire comfortably”. Does this advice ring a bell? I am pretty sure it does.  This is because we have, in one form or another, heard our parents or relatives mention this to us, in an all-too-helpful manner.  Now, before I get flamed for criticizing this time-tested advice for success, I would like to point something out.  I am not against education or going to school at all.  In fact, I have a Bachelors of Financial (Hons) from York University and an MBA in Finance … Read More >

Ah, credit cards.  A source of convenience for some, a nightmare for many.  If I was given $1 every time anyone at an online personal finance forum exclaimed: “Guys, credit cards are evil! Credit card companies are ripping us off. We should all get together and have a credit card bonfire!”, I would have a lot more money than I have today.  No matter how we feel about credit cards, the ultimate truth is that they are just a tool. They just magnify our behaviors and patterns. They just show us who we really are down to our very core. In … Read More >

Our schools (and most parents) have programmed us from the very beginning to work for someone else. If you look at the education schools impart, you will see a pattern emerge: Get good grades so you could get a good job with a renowned corporation.  Sometimes I feel that schools teach students about everything under the sun except for two areas, which in my opinion are not only necessary but required to keep the economy flourishing: Money and finances – so people can stay away from bad debt & reach financial independence soon Entrepreneurship – so more jobs can be … Read More >