Archive for Debt

Get Out Of Debt

Sep 24, 2013 1 Comment by

Getting out of debt is easy on paper. You already know what to do. Look at all your expenses, separate needs from wants, drop most of your wants until you can divert your savings into debt repayment. Bring in more money if you need to. This post isn’t going to tell you the details of [...]

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Calculating Required Retirement Income

Jan 16, 2013 Comments Off by

Project your retirement expenses based on current or future lifestyle and not on your current income. Most advisers recommend planning a retirement income of 70% of your salary. If one is to live very frugally, then it may be too conservative of a calculation. If you plan to rent or still have a mortgage in [...]

Debt, Frugality, Lifestyle, Retirement, Savings, Strategy Read more

Don’t Pay Later

Jan 10, 2013 2 Comments by

A family member recently advised me that I should buy a washer and dryer on a “Pay Later” plan. She claimed that it would be a very smart thing to do as I can put the equivalent amount of cash, which I have available in the bank, into a savings account or an investment vehicle. [...]

Debt, Frugality, Leverage, Lifestyle, Savings Read more

Debt Repaid, Now What

Dec 20, 2012 2 Comments

Repaying credit card and student loan debt aggressively is hard work but it becomes addictive after a month or two. You get into the habit of restricting frivolous expenses and this becomes comforting after a while. You start appreciating all the people and things that you have in life. Your wants diminish. You are healthier [...]

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Rich Enough For Charity

Dec 18, 2012 Comments Off

Being charitable is an important value to me. I regularly give to charity in order to make my world a better place. Deciding how much and when to give was more difficult to achieve, especially when I was a student. My issue was that I always had an excuse not to give. I either had [...]

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Line Of Credit Emergency Fund

Dec 07, 2012 Comments Off

Did you hear O’bryan’s law? He said Murphy was an optimist. One of my favourite personal finance gurus is Gail Vaz-Oxlade. Her financial advice is sound and she had good methods for getting people to follow their own budget. One of her rule of thumbs is to always contribute and top up to a cash [...]

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