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Time Spent and Money Spent

We Can’t Afford It Remains Taboo

I had a conversation with friends on vacation earlier this year and the subject of money was raised a few times.  One interesting money subject we discussed was where and how we spend our money.  I’m of the opinion that if we want to take good care of our finances, we must take responsibility for what we spend our money on.  My thinking is nobody really wants you to save money.  Well, maybe the bank. Like Carl Richards nicely explained in his recent book The One-Page Financial Plan budgeting is beyond numbers, it could be considered an ...
Smart Investing

10 Saving and Investing Truths

To quote the late Dr. W. Edwards Deming, a world famous author and quality management guru: “If you can’t describe what you are doing as a process, you don’t know what you are doing.” In my work, Dr. Deming’s wisdom is referred to frequently. I think his wisdom also applies quite nicely to an investment strategy. Once that’s defined it’s much easier to execute on. I live processes and systems stuff in the workplace every day and for whatever reason, it took me until my 30s to adopt this quality management philosophy ...
Smart Investing

Reader Questions – Essential Saving and Investing Advice

Thanks good readers, I appreciate hearing from you and receiving your saving and investing questions. I’ll be the first person to acknowledge our saving and investing approach might not be suitable to everyone however I believe things are working out for us so far.  Before I get into the latest set of reader questions to My Own Advisor here’s a brief look at our financial priorities: Very high priority on saving, contributing and maxing out our Tax Free Savings Account (TFSA) every year. High priority on contributing monthly to our Registered ...
Smart Investing

Seven Smart Investing Principles for Everyone

Last fall, I obtained a copy of this document from PWL Capital entitled Seven Principles of Smart Investing.  After reading this through this white paper I reflected upon how we’re applying these principles. 1. Ignore ‘hot’ investment tips We do.  I ignore all financial tips from people who think they know where stocks or markets are headed.  They may pretend to know but they don’t. 2. Have a basic knowledge of investment vehicles I believe we do.  We use low-cost indexed Exchange Traded Funds (ETFs) and individual stocks ...
Saving

The new savings rate is more than 10% folks

I was inspired by this blogpost recently that argued we’ve been thinking about our savings rates all wrong. Cait argued: “What if, instead of telling us how much to save, we grew up hearing how much we should live off of instead? What if your parents had made you save half of every paycheque you earned as a teenager? What if your teacher (of the personal finance class that only exists in my dreams) had told you the goal of budgeting was to live off half of what you earned as an adult?” What if indeed… Here’s what I know about our financial ...

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