simple living starts here
Jul 24 2018
Living on 50% of your Income:
1. Early financial independence equals control
2. Eliminate risk from you life
1. Move in this direction – not too slowly
2. Remove temptation
3. Control of your environment
4. Don’t fall victim to the gold fish effect
5. The double edge sword of living on 50% of your income
6. If you believe you can’t then you are correct
7. Inaction is in it’s self an action
8. If you are in your 50’s you have already done this (25 years ago)
Dec 04 2018
Jan 14 2018
Apr 22 2018
Saving money on groceries
Why you should want to get good at grocery shopping:
How to save money on groceries:
Dec 03 2019
a process to achieve your goals
be motivated solely by your goals, you have to love the process to succeed.
wanting to be thin
Goal: wanting to weigh 110 pounds
has no instructions or process on how to achieve this goal. The best approach
would be to love being a vegetarian, or a vegan, or a gluten free sugar free
vegan. Go ten feet deep on being a vegan and love the journey of learning about
what it means and finding communities of like-minded people who share the same
passion. That is fun and exciting and
you will never lose motivation and guess what you will lose weight and probably
exceed your goal along the way.
high blood pressure
wanting to reduce blood pressure
Goal: wanting to reduce blood pressure to 120 over 70
The goad has no instructions or process on how to achieve this goal. A better approach would be to adopt a sport, for winter and summer. If you do not excel sports than become a “gym rat”. Go ten feet deep on weight training and love the journey of learning about what it means and finding communities of like-minded people who share the same passion.That is fun and exciting and you will never lose motivation and guess what you will lose weight and probably exceed your goal along the way.
Income – You need to have never ending thirst for knowledge
Lifestyle – You need to become resourceful, stretching the useful life of
everything you own.
Lifestyle – All you see in the world is excess
Jan 07 2020
How to Get
Out of Debt:
should live a debt free life:
Using debt as a financial management tool will force the decisions you make today to be controlled by your actions of the yesterday. Living a debt free life means you can focus on the present and the future and leave the past behind.
Feb 12 2019
Apr 08 2018
Part 1: Why have a
To survive without budgeting at some point would require the
use of credit or a very extremely conservative lifestyle which would mean lost
level – How to Budget
Budgeting is important:
Budgets are a tool for decision making
Mar 25 2019
Aug 13 2018
Your House is not
Just because your house appreciates in value does
not mean it meets all of the criteria of an investment.
I am not saying real-estate is a bad investment,
real-estate that you are not emotionally invested in can be a good investment.
The house you live in, by its very nature, is an emotional investment.
What Is an Investment?
An investment is an asset or item acquired with the
goal of generating income or appreciation. In
an economic sense, an investment is the purchase of goods that are not consumed
today but are used in the future to create wealth. In finance, an investment is a monetary asset purchased with the
idea that the asset will provide income in the future or will later
be sold at a higher price for a profit.
Why your house is not a true
What your house does represent:
Home Repair vs Home
Home Repair – if it’s broken fix
Home Improvement – Everyone likes to refer to
their home as an investment. If you investment additional money into your house
“investment” you should expect and have some reasonable expectation of the
return on that additional investment.
JL Collins – Why your house is a terrible investment
Oct 28 2019
May 06 2018
Personal Finance Myths
We like to make excuses; easier to blame others then ourselves. We all, like eating, have the ability, for thee majority, to earn, save, and spend.
1.“Personal finance is too hard.” — news flash, a lot of the most important things we will ever embark on in life are really hard. Anything worth having, anything worth being good at is always going to challenging, But its how willing you are to fight to achieve what you want to achieve is the true measure of strength and resiliency. Change will come from a place of discomfort.
2. “Personal finance is easy… just don’t buy anything or spend any money, I’m set…” — things happen, clever marketing ads get shoved in your throat in all sorts of subconscious ways, its harder then ever not to spend money
3. “My parents are bad at it which means they didn’t teach me how to get too at it.” — the moment you stop letting someone else dictate how good or bad you are and will ever get at something is the moment you relinquish control. Control and permission to excel at something and be great. You are not your parent’s legacy, instead you can foster your own legacy at leading an incredible personal financial life. Yes, you may not have been dealt an incredible hand, but you own how you play that hand out. I will also in the same breathe be the the first to admit that my parents are incredible with their finances, that everything I know and everything I told true is because of them.
4. “People with a financial background have an upper hand.”
5. “Personal finance is a place you get to.” — in reality, it’s a journey not a destination and you have to be kind, gentle, and patient with yourself as you grow and go through this journey
6. “There’s a “right” way to do personal finance” — and by right way we mean there are right strategies to take on i.e. spend less then you earn, but the things that work for your neighbour, friend, etc. might not work for you. It’s easy to get caught up in the perfectionist side of things, that if you live your life according to the success plan that worked for someone else it’ll work for you, however in reality our lives are all so unique.
7. “I’m older now, its too late.” — its never too late
8. “Caring about personal finances is only for those with lower incomes.”
9. “If I made more money I wouldn’t have any financial worries or problems”. —Don’t look for external solutions to an internal problem
10. “Everyone else around me is living large, why can’t I?”
11. “It feels like my debts will never get paid off, why even try or start?”
12. “I tried the personal finance thing and it didn’t work.” — Trust yourself — trust yourself that you’ll have the ability to succeed
13. “My spouse takes care of the personal finances so I don’t have to.” — faulty approach, important to delineate roles, but also as important for both partners to have a pulse on your joint personal finance situation and be jointly involved (regardless of who may be the primary/larger bread winner of the family unit). Each partner serves as a sounding board, your accountability partner. Ensures your immediate/short term actions align with your long term goals.
14. “Thinking about personal finance is too restrictive — budgets, curbing my spending…”
15. “I’m not wired that way.” — its not about math, its something you need to learn, something you should embrace getting good at
16. “Personal finance is something I can ‘dabble in’ whenever its convent for me” / “I have a bad habit on spending money on things I don’t need.” — no, personal finance is a way of life and a way of living, not a habit to be broken and then commit to next week or next year when you think it’ll be easier.
Apr 15 2019
Jan 02 2019
Oct 02 2018
May 13 2018
Passion vs. Profession
The average person will spend 90,000 hours at work
Article from Radio Canada International: A recent survey shows only 27 per cent of Canadians say they are satisfied with their current employer and are not interested in a new job. – https://www.rcinet.ca/en/2018/12/17/only-about-one-quarter-of-canadians-satisfied-with-their-job/
“Millennials have a desire to do work that is interesting to them. Things that give them joy and satisfaction. I think they’re more willing to walk away than the generations that came before them.” – https://www.cbc.ca/news/business/job-satisfaction-employee-retention-canada-1.4945021
Therefore, can your profession be your passion?
What is a passion?
Dig deep (i.e. personality type etc.)
What is a profession?
Ask yourself, are you really feeling intrinsically rewarded?
What’s holding us back from turning our passion into a profession? — The “F” word…
Fear of investment (time, money etc.)
Fear of judgment (others’ opinions)
Fear of failure (idea/business fails at any point of execution)
Fear of commitment (your interest will waiver; to ourselves)
Fear of unprofitability (idea/business does not perform well)
Can a passion really be profitable?
When should you turn your passion into a profession?
Testing ground to full-time: start a profit-earning side hustle (ex. online store, live market place – craft show, coffee house, art gallery, farmer’s market etc.); launch a free resource and monetize (ex. YouTube channel, blog, podcast)
Supply and demand — when your passion project gets too successful or popular to just maintain on the side
Just do it — Rachel Hollis: no one wants something more badly then you want it for yourself
Jul 23 2019
Feb 19 2018
Opinions vs. Advice
People who may try to give advice:
How to know you’re being given advice:
Reasons to get advice:
Aug 20 2019
Mar 04 2018
You Can Have Anything You Want…just NOT Everything You Want
Have you ever wondered about the people who look like they have it all?
Tip on finding focus: have interests and hobbies the lead to related interests and hobbies – hobby matrix
We often idealize people’s lives or situation but are not willing to make the sacrifice
If you want something nobody else has have to be will to do something nobody else does so
if you want something somebody else has you need to look for the sacrifice they are making
If you do the 5 whys you can get you can get to the sacrifice
Upgrades in live are an example have anything you want – don’t let stuff own you….you own stuff
Your anything needs to be realistic given your income
The sacrifice can be what you are not choosing – Artists are known for sacrifice. Writers, painters, performers – all of them choose their art over other things – security, comfort, leisure, even relationships.
The problem with having everything you want:
The benefits of having anything you want:
Jul 27 2020
Avoid Lifestyle Inflation…….Until When?
What is lifestyle inflation?
The Problem with lifestyle inflation:
How to Avoid Lifestyle inflation:
Avoid Lifestyle Inflation…….Until When?
Jul 14 2020
How to Escape Minimum Wage
CERB – Canadian emergency response benefit was providing those affected by the pandemic $2,000 per month. A household of two working adults could expect to receive $4,000 which is $48,000 per year which is $24,000/year. A lot of the news stories, as well as people I know personally, say they could not live on this amount of money for very long and many of their bills will go unpaid.
Minimum Wage – In Ontario is $14/ hours x 40 hours x 52 weeks is $29,120/year, 2 working adults this would be $58,240/year
Statistics Canada annual income study from 2016StatsCan-Average-Income-Study-2016Download
We have talked about the advantage of being able to live on minimum wage but that doesn’t mean that your goal should be to earn minimum wage.
Employment Equilibrium: Employers will pay just enough so you won’t leave and employees will put forth the just enough effort to not be terminated.
At some point in your working career you need to earn at least an average income to live a comfortable life and have some life experiences.
With the economy very uncertain and a recession likely you may be forced to make a career change and quite often there will be educational incentives, so this may be a great opportunity to make a change
Benefits of a minimum wage lifestyle:
The problem with minimum wage:
How to escape minimum wage:
Jun 15 2020
Do Tough Times Make Tough People?
Any physical growth will be lost when the comforts of life return, so most of this growth will be temporary.
Physical toughness would really only be useful if it is required in your future life. Maybe you were an accountant and because of these tough times you have become a farmer, then yes, you will have grown physically tougher because of tough times and the gains will be somewhat permanent.
As humans we got to the top of the food chain not by being Tough but by being smart. If we are going to grow from tough times then it will have to be from intellectual growth not physical growth.
Adversity does not build character it reveals character
Nine Ways to grow from tough times:
Jun 02 2020
Financially Sound During a Crisis
Don’t count on government support to be there until this thing is over.
The societal transition from government supported to self supported will be a very uncomfortable period for many people.
Will there be a “V” shaped economic recovery or will this be a long painful recovery, and what does “back” really mean.
5 ways to make yourself financially sound during a crisis:
May 19 2020
Making a Case for Audiobooks
If you enjoy podcasts you will probably enjoy audiobooks? – it depends on the kind of podcast you listen to.
Does listening to an audiobook count as reading? – if information consumption or entertainment was your goal then the answer is yes.
Do you get the same retention value with listening vs reading? – when you were learning to read, in the traditional sense, you had to develop reading comprehension skills.
Is there a learning curve to consuming audiobooks? – start with a book you have already read
Fiction vs non-fiction
Example: Malcolm Gladwell Talking to Strangers – when he referenced a news story or interview in his book he actually played the news or interview clip in the audiobook.
The benefits of audiobooks:
Audio File magazine is a great resource
Reddit is a great resource
Where to get audiobooks:
May 05 2020
Breaking Down Boredom
What is boredom?
Bored | Adjective | feeling weary because one is unoccupied or lacks interest in one’s current activity
Boredom is often viewed negatively, however is boredom inherently bad or something to be avoided?
The global shift of acceptance
Boredom was once a frowned upon feeling or experience and not readily embraced before this current crisis; productivity has long been championed
We are existing within a time where society embraces and normalizes boredom — (we’ve reached new heights on digital consumption, influx of digital streaming services, social media trends)
Polarizing views from those who are at home vs. working during this pandemic?
Bored vs. content? What if we overcompensate and move from boredom to overloaded? (the overcompensation approach)
Why we experience boredom:
Boredom’s negative impact:
How to avoid or get out of the boredom rut?
When the looming temptation to give into the idea of boredom:
Apr 27 2020
Is Misery is better than Mediocrity?
What is misery?
• A strong feeling or sense of being unfulfilled, hopeless, discontent, or unhappy due to perceived or real circumstances
• Strong doesn’t mean negative or bad however we perceive it as bad because it is a strong, extreme emotion that makes us uncomfortable
If you let it, life will happen to you, not for you
Without goals or a value system you are wandering aimlessly with no direction or end in sight, which can retrospectively result in misery
Where does misery come from?
Misery stems from circumstances that are either:
Why we should embrace misery?
How to embrace misery?
Apr 21 2020
You should upgrade to solve a specific problem or to get a specific outcome
What adjustments are you making within your lives?
What are you doing to combat this?
We want to to have a conservation about you and encourage you to let us know how you’re dealing with it.
The shift from comfort and convenience to safety and security
Maslow’s Hierarchy of Needs
Why is this shift important?
Areas of your life to deploy this in?
If you have debt you are dealing with solving yesterday’s decisions, never before has it been more important to be nimble
Apr 13 2020
Life As We Know It
How to assess our current situation?
When the health crisis is over and the financial crisis becomes more in focus we are going to offer some gravity to the situation to help you view things in a constructive light rather than a destructive manner.
When accessing your current financial situation it is important to not look at is in a silo:
There’s a theory that if you take all the money and divide it up between all the people it would end up in the same hands.
If you have been winning at personal finance up until now rest assured when this thing is over you won’t forget:
Try to imagine you situation if you had not been deliberate with your finances
Should we be concerned about our employment?
Look at how the economy is doing within the town/city you live in, look at how your industry is doing, look at your employment situation through your companies eyes
If you reach out to inquire with your company about coming back ask “how is business” not “when am I coming back”
Given the circumstances it might be time to change your goals (your previous dream and aspirations). Pivot
Re-training — pursue the career path of your dreams
Stigma – laid off, travel
We have a new high water mark — when ever new disaster hits that is below this new high water mark society will expect you to be prepared in every aspect of life
This is a time to figure out what sources of information you can trust in the future
Should we wait for things to get back to normal?
Don’t wait for things to get back to normal because I believe there will be a new normal. There will be i industries and business that will not survive this event. Every business that was operating cove to the financial edge will be exposed and recovery should not be assumed.
Jobs will change, some for the good and some for the bad
For many people in our society they entered this disaster where they highly valued comfort and convinced. When this thing is over they will value safety and security.
Society will not be too judgmental to those who were not prepared for this global pandemic but you will be judged harshly if you are not prepared for the next one.
Apr 06 2020
The Open Ended Debt Solution
We should avoid debt at all cost, but in life things don’t always go as planned and debt becomes unavoidable. Also for things like buying a house and sometimes getting an education require debt based on the timing in life and the natures of their significant cost.
Whenever you enter and agreement to borrow money and repay it you need to be strategic
Borrowing money for education:
This one is hard as you don’t know how much you will make so it becomes hard to access how long it will take to repay. The terms of the loan state when interest will be charged and when you need to begin repayment, but for the average person this is an open ended debt that you hope to repay some day in the future.
Borrowing money for a car:
When you borrow money for a car at first glance it appears to have an end date, but in the big picture of owning cars for most it is not. Once you own a car there is generally no going back to not owning a car, you become a car owner for life.
How car buying usually happens:
How car buying should happen:
Borrowing money for a house:
Based on the significant cost of a house borrowing money is a reality for most, if we saved up and paid cash two things would happen. First we would be chancing the housing market in that for most people the house would increase in cost faster than your savings rate and you would never reach your goal. Second, by the time you saved up enough for a house your hosing need would have changed.
The open nature of a mortgage is kind of sneaky:
How a mortgage should be repaid:
The problem with open ended debt:
Mar 17 2020
Methods of Budgeting
1. 50/30/20 Budget
Break down your expenses into three categories: needs, wants, and savings – 50 percent of your take-home pay should go towards needs, 30 percent should be devoted to wants, and 20 percent should get put into savings) – the balance.com | Paula Pant
2. Predictable vs. Unpredictable – Shannon Lee Simmons
3. Mandatory vs. Discretionary – the method Trevor uses
App vs. Spreadsheet
Setting up Your Budgeting Tool – what does it actually look like?
**Moving from expense tracking to budgeting
Do’s and Don’ts
Mar 10 2020
debt can be either a temporary situation or a permanent situation, and how you
view debt will determine your perspective. If debt is the problem you will
spend your lifetime trying to solve it, if you treat it as a symptom you will
peel back the layers and find the cause.
to be willing to accept the lifestyle your income delivers, everything else is
just a hobby. The real challenge is when income and lifestyle are not aligned
is to access the temporary vs permeance of the situation. The risk of getting
this wrong can be the difference between success and failure.
focus on debt as the problem your solution always appears to be deprivation
which we all know is unsustainable.
why method is a very effective tool in getting past the symptoms and find the
Side note: the car you can afford can be paid
for in 3 years or less and does not exceed 50% of your household income.
transition of not seeing the symptoms:
that look like symptoms (these require lifestyle changes):
problem with solving symptoms:
Mar 03 2020
Amazon prime is a
membership service that for most people provides expedited shipping, but there
are some additional benefits that are commonly known and even more benefits not
so commonly known.
The cost of Prime is
$7.99/month which includes one free month for new members or $79.00/year which
works out to $6.58 on a monthly basis.
More importantly is
Prime a good idea from a behavioral economics standpoint?
Prime commonly know
Prime not so
commonly known benefits:
The problem with
When does Prime make
Feb 25 2020
Feb 18 2020
How I Consume Books
Why Books are
Types of Literature:
Books should be:
How I Consume Books:
individuals who’s like to consume books?
Feb 11 2020
Forward and Back.
turn 50 you have a very unique view of life if you choose to see it. You can
look back by observing your children and reflecting then things in life that
your found challenging. You also have the opportunity to observe your parents
and see the things in life they find challenging.
can relate to your children’s challenges and remember yourself in their
positions then you have to believe the challenges your parents are struggling
with will be your future unless you change your current trajectory to chart a
to ask yourself:
Feb 04 2020
I’m just not a saver, is that ok?
time ago I was visiting a relative and was admiring the comforts of life they
had accumulated and commented that they appeared to have done well and
“had it figured out”. Their response was that all this comes at a
cost. They said “I am not a saver, but I am great at paying back”. At
the time I thought, well that’s great, you have the skill to pay things back.
I had a very similar conversation with an acquaintance and they proclaimed they
were “a terrible saver, but a great payer backer”. Twenty years later
I have a very different perspective on this.
problem with not becoming a saver? This is a skill and discipline that needs to
How do so
many people end up going down this road?
problem with using debt to advance though life:
Jan 28 2020
The Problem with Abundance
opposite of abundance is scarcity – you think we want abundance but we actually
are seeking scarcity.
The problem with scarcity – the biggest problem
with scarcity is worry for the future, fear and anxiety, and all or nothing
The problem with abundance – there is not off
switch, no ceiling, no limitations, no fear or concern for the future, “it
will always be there” mindset.
the best example of the destructive power of abundance
are living in a world where too much is becoming a problem? Too many choice can
cause us to become careless and directionless.
scarcity better than abundance? If you had to choose one over the other
scarcity has the benefit of fewer self-inflicting consequences.
never sign up for open ended offers or opportunities – there is no opportunity for resourcefulness
Example: Back in the pre-internet era, It used
to be there was nothing to watch on TV at a given moment in time. Two benefits
of this were you watched less TV and when you did watch TV you were fully
engaged and entertained.
humans, in the history of the human race, have died from too much nutrition
than not enough. The human body was designed to survive periods of scarcity, we
do not do so well with abundance.
The Agricultural revolution was supposed to solve hunger and make our lives better
The Industrial revolution was supposed to make our lives physically easier
The Technology revolution was supposed to make our lives more efficient
The Artificial Intelligence revolution is promising to……
Tech.com: Society Doesn’t Know How
To Deal With Abundance – if you look at all of human history,
probably 99.999999% of it has been about dealing with the issues of scarcity.
In fact, our entire original economic philosophy (which is really just two and
a half centuries old) was based on “resource allocation in the presence of
scarcity.” Historically, abundance just hasn’t been an issue that we’ve
had to deal with very much. And the problem is that people try to apply the
mental rules of scarcity to abundance and they basically kick out an error
message. It’s a “divide by zero” sort of problem. You get infinity as
a result, and you think it’s wrong. So the response is almost always the same.
Rather than actually trying to deal with what abundance enables, people try to
force abundance back into a feeling of scarcity — which they’re comfortable
with. That is, they try to apply artificial rules and restrictions to make the
abundance feel like it’s scarce, so that they can understand it again.
problem with abundance:
solve the abundance problem:
In The Seven Habits of Highly Effective
People, Stephen Covey
The abundance mentality…is the paradigm that there is plenty out
there and enough to spare for everybody. It results in sharing of prestige, of
recognition, of profits, of decision making. It opens possibilities, options,
alternatives, and creativity.
Jan 21 2020
Is Being Too Busy a Problem?
over estimate what we can accomplish is a day and under estimate what we can
accomplish in a year.
the lubricant of life, not enough and life is a grind, too much and your life
has no direction. Too much disposable money can be a cause of being too busy.
people view those that are not busy as being lazy or self-absorbed when really
they are just trying to enjoy life on their own terms.
problem with being too busy is it could jeopardize our goals in life and we
often think we have a great reason or at least we think we do, when really we
are just consumed with busy work rather than important work.
being too busy relate to people in your life?
say we are too busy for a particular activity or action, what we really mean is
that something is not important enough for me to consider it a priority.
the law of diminishing returns
of diminishing returns – a point at which the level of profits or benefits
gained is less than the amount of money or energy invested
service to do your home chores. Such as house cleaning or year work, might be a
sign that you are too busy.
3 thing at play here:
not want to be busy:
Jan 14 2020