Buying or renting your place of residence - what should you do? There are probably hundreds of thousands of articles contrasting the two paths scattered across the web. These articles will give you anything from in-depth analysis to general guidelines. Buuuuut regardless of the amount of content out there, I like sharing my own point … Continue reading Housing – Should I Buy or Rent?
One of my goals for this blog was to create more accountability. I wanted to start reporting my financial goals to be better, more capable, avoid consumerism, be environmentally aware, and save money along the way. So what are my financial goals? Currently 29, I aim to achieve FI by 45, and retire by 50. … Continue reading Financial Independence – Outlining My Goals
Living within your means can denote a lot of different things to various people. It depends not only on who you ask but how you ask! Some folks may see that their total monthly cash outflow is less than their cash inflow and feel okay with that. Some savvier individuals know they need to limit … Continue reading Study Up On: Living Within Your Means
Now for the final installation of my Big Three series! For the finale, we will be talking housing. As discussed in the kick-off to this series, shelter* makes up 14.7% of median income, or $17,509 (2015). The Frugal North's StatusThe FN household is currently paying $1,860 a month for shelter costs. This amounts to $22,320 … Continue reading The Big Three – Part Three: Housing
Welcome back for Part Two! Last post, we discussed how Food, Transportation and Shelter make up 47% of median income in Canada. This week, the focus will be on Transportation which is a whopping 14.7% or $11,909. TRANSPORTATION In the FN household, we have one car for the two of us. And it's a real … Continue reading The Big Three – Part Two: Transportation
Welcome back! Hopefully you've had a chance since my last post on Personal Finance 101 to start tracking your income and expenses, finding ways to cut extraneous expenditure that isn't bringing you happiness and you're feeling more comfortable saving for FIRE based on your own ethos / path! The next logical thing to tackle would … Continue reading The Big Three – Part One: Food
When we talk about FIRE (financial independence, retiring early) one of the most crucial things to understand aside from saving is compound interest. As Einstein once famously said: "Compound interest is the eighth wonder of the world. He who understands it, earns it...he who doesn't...pays it." - Albert Einstein Well said (Pretty smart guy!). Let's … Continue reading Compound Interest – It’s A Choice