It’s been a long time that I’ve been reflecting… alas, I’m writing my first post to share my findings and discoveries on personal finance. I will certainly have the occasion to write regularly on the subject.
For this first time round, I want to harken back to something extremely important: savings. There’s a rule in personal financial planning that says we should systematically save about 10% of our net income right away, yes, yes, you’ve read correctly, now, today!). Read more
To attain financial ease, you’ve got to use the right ingredients and follow the right steps, like in a cooking recipe. There are several ways to achieve this, but a common base applies to all financial success: planning, skill, patience and a little luck. One thing’s for sure, the road is often long, so it’s best to start right away.
Be Prepared
Ensuring one’s financial security is not the result of chance and doesn’t happen by itself. Some people rely on the government for a smooth-sailing retirement. With the economic health of our ministries (or lack of), you ought to forget this notion. In fact, in the same way that companies develop their famous 5-year plans, why not apply the same plan to our personal finances? Recording our financial objectives must be written down in a plan. This formalizes everything and ensures reaching our goals. Success rarely happens by accident… so have a plan! Read more
My intention today is not to make you cut out the morning coffee you bought at your favourite retailer, nor to point out that a dollar spent is a dollar less in your pocket. Everyone is aware that saving up can sometimes require making sacrifices. Whether it’s getting rid of a second car, bringing lunch to work on Fridays or opting for items on sale in stores, saving is a well-known theme to the majority of folks.
It’s in this frame of mind that this post will be useful to you: by presenting five strategies to start or consolidate your savings plan. Read more
It amazes me to see how many workers go about their lives living from pay check to pay check. The long-awaited bank deposit that arrives on Thursdays disappears as suddenly as it appeared, leaving behind an empty bank account, unpaid bills and a feeling of disempowerment to those who work Monday to Friday to earn a living.
To remedy this, a personal budget can easily be made in 20 minutes, once all the necessary information has been collected. This time investment is a rather small “inconvenience” when weighed against seven good reasons to create a budget, as listed below.
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