This post explains how to quickly build up net worth without feeling deprived. If I can help it I simply don’t start a routine (which costs money) that is hard to quit. Below are 4 categories where I spend less than the average person. The reason I appear to be frugal in these categories isn’t because I want to save… Read More »
Last month I tried to go for 25 days without spending any money. And it worked. I passed my April no spend days challenge. Here is a break down of all my expenses. April 2nd: Paid mortgage, strata, and some other reoccurring expenses. April 1st was a weekend. April 3rd: Paid $58.24 for internet bill using my… Read More »
I’ve noticed that many other financial bloggers like to challenge themselves to limit their number of days they spend money, for example, they may try to go for 5 no-spend days for a week to see if they can restrain their spending to only 2 days. Up until now, I have only planned for, and kept track of how… Read More »
There are lots of great suggestions out there for saving money. One I’ve found particularly useful is making a budget. This post is to help personal finance beginners to think about money, and take control of their own financial situations. A budget is a detailed plan for the formula below. Income – Spending = Savings For more savings we… Read More »
Saving is important. Without savings, one cannot even invest. Most of my net worth today is thanks to my special saving method. Actually, there’s nothing special about it, but it works for me. Below is a chart of my after-tax income and spending history over the last 3 years. The difference between my income and expenses, as you can imagine,… Read More »
I’ve decided to participate in 20’s Finances’ The Dollar Challenge, which is an interesting study that asks what do people spend their money on as a percentage of their income. In other words, for every 1 dollar earned, how is it spent? So here we go. On an average month, my take home pay is used up in the… Read More »