Blog
Let’s talk our favourite acronyms! RRSP
Registered Retirement Savings Plan (RRSP) - let’s cover the basics as to what it is, why you may or may not need it and how it helps you.
Investing vs Saving
Investing vs Savings
Should you be investing or saving? Should you do both at the same time or just one? Short answer: you should be doing both as there is a time and a place for both!
Living below your means
Living below your means is the idea of spending less than what you’re bringing in monthly.
This applies to your daily spending but I’d like to focus on your bigger purchases - home, vehicle, any of those things that require a lending institution
Money Stories
What money story do you tell yourself?
Money stories have established our behaviours and feelings towards money. Have you ever looked into where yours originated from?
The Effect of Time
An important thing to keep in mind when planning for your financial future is the effect of time.
If you start investing now rather than waiting a decade or 2 can help you significantly in the long run. Evaluating two different scenarios, one with a retirement goal and the second with a monthly investment goal.
It’s Net Worth Time!
Every month, I calculate my net worth and track it. This has been a great tool to keep me motivated on my financial journey. I’ve been able to see the changes in my finances on a monthly basis and compare to where I was last year.
Emergency Fund
As someone whose been unemployed since the end of July, I can speak from experience that an emergency fund comes in handy. Having this buffer has allowed me to be selective in finding my next position and making sure that I’m looking for something that truly aligns with me, rather than jumping at the first available option.
Sh*t will always happen
Life is often unexpected and can add variability to monthly expenses. It’s better to plan for them to ignore them because they are unavoidable.
