Peter's picture

Simplify By Harnessing Your Urge To Get Ahead

It is difficult to maintain a simple lifestyle when we are surrounded by others who don't. It is tough not to get the latest and greatest when everyone else is getting it. It can be one of the hardest aspects of getting started with simplification in your life and can sometimes cause you to give up. Our desire to compete with others and to compare our situation with others is deeply rooted in our genetic make up. However, by looking at things slightly differently, we can take full advantage of this natural impulse to get ahead to keep us going down the road to simplicity.  ... read more of this story»

Peter's picture

My Money Mistake & How To Avoid It

One of the most exciting aspects of planning one's escape is learning new financial skills. Often learning a new financial concepts can get your creative juices flowing as you ponder how you could make use of this new idea in your own personal financial journey. Sometimes, however, learning something new can shine a humbling light on past financial mistakes. Some action in our past that we now realize was a poor financial move starts to weight heavy on our minds and regret sets in. Today I'm going to share one of my (many?!) past financial mistakes and why I am putting my regrets aside and celebrating instead.  ... read more of this story»

Peter's picture

Exercise That Works: Shoveling Snow

As the first Winter storm of the season lumbered through the region yesterday, I had the opportunity to have a free workout shoveling snow. It felt great. It was rewarding in more than one way as well: I got a great workout and I got a clear driveway. For my health, happiness and pocket book, I almost wish it would snow three time a week! Read on to see why.  ... read more of this story»

Peter's picture

Understanding Inflation

Inflation: Here we see how inflation affects our ability to buy a $6 hammer with $10. By investing our $10 we maintain our purchasing power over time despite the effects of inflation.After looking at the anatomy of our personal finances, I think that it would be worthwhile to go over how inflation affects our plans to escape from the 9 to 5 grind. Inflation is almost always an enemy when it comes to our long term financial goals. If you don't fully understand how inflation affects you, you won't be able to create a good plan of action for your escape. So let's get started.  ... read more of this story»

Peter's picture

Personal Finance 101: Cash Flow & Net Worth

Personal Finance 101: Cash Flow & Net WorthSo far we've looked at income, expenses, assets and liabilities, but what do these all add up to? Well, today we'll be looking at Cash Flow & Net Worth the two basic measurements of our personal financial health. By maintaining a positive cash flow and building a strong net worth you'll be securing your financial future. Understanding this will help us to unlock the secrets of wealth and financial independence. Let's take a closer look.  ... read more of this story»

Peter's picture

Personal Finance 101: Assets & Liabilities

After discussing income, expenses, taxes and savings, what else is left to learn when is comes to personal finance? Today we are going to look at some personal finance heavy hitters: assets and liabilities. In simple terms what you own is an asset and what you owe is a liability. A liability is commonly known as a debt. If we look closer, however, we can see that some assets are worse than others. Also, some liabilities are better than others. Understanding what makes one asset or liability better than another can help us achieve financial success. Let's see how.  ... read more of this story»

Peter's picture

Personal Finance 101: Expenses & Saving

Personal Finance 101: Expenses & Saving: Saving on expenses can be a powerful tool for getting control of your personal finances since money saved is tax free.
We all know that we should reduce our expenses to save money. This is often the first piece of advise you'll get on personal finance. This is, in fact, excellent advise but do know the reasons why? In this edition of the Personal Finance 101 series I'll take a look at some reasons why saving on your expenses is such a powerful tool for creating wealth and financial independence.  ... read more of this story»

Peter's picture

Personal Finance 101: Income & Taxes

Personal Finance 101: Income & Taxes

Let me start by saying that not all income is created equal. This is primarily due to the different tax treatment of various sources of income. In this installment of the Personal Finance 101 series we'll take a look at four common sources of income: employment, interest, capital gains and dividends. We'll also look at how Canadian tax laws can significantly affect how much you get to keep at the end of the day. You might be surprised ... I know I was!  ... read more of this story»

Peter's picture

Personal Finance 101: An Introduction

Basic Personal Finance: Overview

For many of us, the only way we know we are in rough financial shape is when we start having trouble paying the bills at the end of the month or when our debts just keep increasing instead of going down. For some, personal finance can seem like a complicated topic to grasp but it doesn't have to be. For others, personal finance seems simple but maybe you are overlooking some important concepts that could be helping you to escape the rat race sooner.

Over the next few weeks I'll be posting a series on personal finance concepts which should help demystify where your money is going and help you to regain control. This first article is an introduction to the key concepts of personal finance.  ... read more of this story»

Peter's picture

As With Buffets, So With Life

Knowing when to stop eating at an "All You Can Eat" buffet can make the difference between going home with a satisfied belly and going home with a belly that aches. It is easy to feel that we need to get more for less but sometimes it's best to stop when you've got enough -- even though there is more to be had. In a society that evaluates success based on comparisons with others, like the Joneses, it is easy to see that success is not only a moving target but an ever retreating one as well. Once you realize that you've already got enough you can live a happier life with a lot less effort. So put the plate down, ask for the bill and see why the Joneses have got it all wrong.  ... read more of this story»

Syndicate content