Achieving financial freedom is a dream for many, but it’s not just about dreaming; it’s about planning and taking action. Whether you’re just starting out, dealing with debt, or already seeing your investments grow, having a plan is crucial. One of the first steps in building this plan is calculating your net worth. This gives […]
What is Net Worth and how to calculate it Read More »
When it comes to achieving financial independence, the classic advice has always been to save, save, save. You’ve probably heard it a million times: “Save your money!” It’s great advice, but it’s not the whole picture. While saving is a crucial part of financial health, it’s not enough on its own to get you to
Saving is not enough – The Piggy Bank Problem Read More »
Achieving financial freedom is a shared goal for many of us. We yearn to attain financial independence to provide for our families, secure quality education for our children, retire comfortably, and create a lasting legacy. While our end objectives may be similar, each of us must carve a distinct path to reach our financial goals.
Make your dreams a reality with SMART goal-setting Read More »
At some point in life, most people find themselves burdened with various debts, such as student loans, car loans, and credit card debt. The traditional approach of making minimum payments can lead to prolonged repayment periods and excessive interest payments. However, there is a powerful debt repayment strategy called the Snowball Method, which involves making
Snowball – replace debt with wealth Read More »
Inflation is a term used to describe the rate at which the general price level of goods and services in an economy increases over time. It is often measured using the Consumer Price Index (CPI). It tracks changes in the prices of a basket of goods and services commonly purchased by consumers. Inflation is a
Inflation – is it a problem? Read More »
People relocate all the time for one reason or another; it’s part of everyday life. Any number of reasons can cause you to move. But to no surprise, about a third of people would move because of a better paying job. When considering accepting an offer, it is important to understand the cost of relocating
Got a job offer but will need to move. Now what? Read More »
When it comes to personal finance, there is no ‘one size fits all’ solution. Each solution must be tailored to each individual case. Same applies to budgeting. Although there are many ways to set up a budget, there are two ways to build a budget that works. First one is the ‘slow and steady’ where
Two ways to build a budget that works Read More »
Credit cards get a lot of negative publicity due to their astronomical interest rates and stories of individuals struggling to get out of credit card debt. However, when used correctly they can be a very powerful tool in your personal finance journey. Free This is often overlooked as a benefit, but credit cards are widely
How to use a credit card Read More »
Congratulations on graduating and obtaining that wonderful piece of paper that will serve as the backbone of your career. Even if you don’t use it directly and enter a different field, you still acquired valuable skills. I hope they truly were valuable because now it’s time to pay for them. If you took out a
Graduated with student debt, now what? Read More »
The term ‘asset’ gets thrown around in multiple contexts and quite frequently it is misidentified. So let’s first define what an asset is. “An asset is a resource with economic value that one owns with the expectation that it will provide a future benefit.” Investopedia One key thing to take away from this definition is
3 reasons why you need to hold assets Read More »
