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Updated by Kathy Waite on Jan 01, 2023
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Cash flow insights .

Making the most of our money. Why are we so bad at making our money work for us?
Instead of focusing on blame and shame and I am so dumb and I am so bad lets break the cycle and find the place between stimulus and reopens there is a space we can use to create great habits

Stimulus & Response

Instead of trying to make us feel bad about what we do then put some space between the thing / decision/ stimulus and the action. Don't do something , sign up for something or buy something and regret it later . Take 72 hours to contemplate it and if its right for you enjoy the decision

How 0% financing can actually cost you more money

I always get asked about 0% financing on auto loans, and whether or not they can make sense from a planning perspective even if you have the means to pay cash for a car. I get the thinking, with the opportunity cost, etc. But it always comes as a surprise to people to learn that 0% financing may end up having higher costs than you realize.

Preets youtube channel is well worth following

Personal Finance is Personal

Nearly four out of five working households have retirement savings of less than one times their annual income. For those who carry a balance on their credit card, the average amount owed is over $15,000. Forty-seven percent of people would have a hard time coming up with $400 in the case of an emergency.

One of the great lies...interest rates are low don't pay off debt

I keep hearing people say , I am not " bothering" to pay off my debt as interest is so low.
Right.........that means lots of your payment goes to capital and makes it a GOOD time to pay it off!
Sales people will tell you not to and invest because they want you to buy something they make commission on

Because of high interest rates, once you find yourself in the hole, it seems almost impossible to pay down your debt. Not only will this debt put a damper on any future plans of saving for a home or even a vacation, it also negatively impacts your credit score, which will make the idea of owning a home even more difficult to imagine.

The 2-letter 4-letter Word

I was lucky enough to listen to and meet Robert in 2010 . Sense of humour and lots of life experience.

"One of the things I love about my job is that I get to have interesting and passionate conversations with North Americans regarding money, personal finance and fiscal responsibility. We all have a relationship with money – sometimes it is a good relationship – sometimes not."

10 Money Revelations in My 30s
  1. A successful financial life comes from increasing your career prospects and saving the difference, but that doesn’t happen with lifestyle creep. Most personal finance experts talk about how much you can save from cutting back, but very few talk about the benefits of finding ways to earn more money. A combination of the two helps with financial security, but the biggest thing most people have a hard time with is keeping their standard of living relatively constant when they do finally start making more money. The secret sauce comes from making more money while not wanting more stuff.
Where You Live & the 50/30/20 Rule

There’s an old personal finance rule of thumb called the 50/30/20 rule that states you should spend roughly 50% of your income on necessities (housing, transportation, healthcare and other bills), 30% of your income on wants (dining out, travel, entertainment, etc.) and 20% of your income on savings or paying off debt.
The advice is often buy a used car , personally I struggle with that. In our minus 40 winters we need something reliable, there is no good transit if you live on an acreage or the edge of town.
I have seen people run older cars, they still have a $300 plus payment then they get a $2000 or $6000 repair bill and are wiped out, it goes on the credit card and its very upsetting .
Maybe the answer is a smaller but newer car so expenses are predictable not a shock plus save towards next car