Category Archives: Budgeting

Home ownership makes sense if it’s part of an overall plan, but not if it’s your whole plan. Putting all your eggs in the real estate basket is just as bad as stashing all your money in any other single investment option. Just because it’s your home doesn’t make it… Read more

I’ve been thinking a lot about young people, money, and how to get the two in the same room. Yah, I know, you’d love nothing more than to have someone throw a ton of money at you, but that’s not what I mean. I’m talking about how to get young’uns… Read more

People are woefully unprepared to handle their money.  It doesn’t matter how much money they make or how well educated they are, folks keep making the same mistakes over and over. While we love to blame everyone else for our lack of money skills – my parents didn’t teach me,… Read more

Canadians are carrying record levels of debt and the financial tactic that could improve things is the first thing to go when getting rid of that debt becomes Job #1. I applaud anyone who wants to get rid of their consumer debt as fast as they can. But having a… Read more

We have all bought things that didn’t turn out to be quite as wonderful as we thought they would be. Maybe it was something small, like a new houseplant. Maybe something big, like a car. Whatever it was, once we saw the flaw, we either learned a lesson or we… Read more

Whenever folks are asked what they’d wished they’d known about money sooner, most people (particular those approaching retirement) say: Saving and the power of compounding, Lifestyle inflation and the debt slavery that it can lead to, and How to save on the big and small things in life. So much… Read more

Here are a couple of words you don’t see put together much: hyperbolic discounting. It’s what the whole Marshmallow Test is all about and it’s yet another cognitive bias that helps us make quick decisions that don’t always work out for the best. In the 1960’s a psychologist named Walter… Read more

Ever made a decision and then wanted to kick yourself in the butt? You’re in good company. It seems that when it comes to making decisions, we only look like we’ve thought it through. So much depends on our “cognitive biases”: the short-cuts we take to help us make decisions… Read more

Personal finance author David Bach is perhaps best known for his trademark phrase “The Latte Factor.”  In short, Bach suggests that by cutting out some of the small extravagances in our lives, like fancy coffees or lattes, people can save money for their futures, and with the power of compound… Read more

I’m a big believer in budgets. I’ve had one since I was about 20 years old. It’s changed a lot over time, but I’ve always had the guide firmly in place so I know what I’m going to do with my money. And so I know where I can “steal”… Read more