If you’re looking to get out of debt and build up your savings, there are a number of challenges you can try to help you achieve your financial goals. Here are a few ideas to get you started: • The “no spend” challenge: This challenge involves cutting out all unnecessary expenses for a set period […]
Challenging ourselves to reduce/eliminate debt. Read More »
Passive income is income that is generated without the need for active work or regular involvement. This means that once the income stream is set up, it can continue to generate money without the need for ongoing effort. This is in contrast to active income, which is earned through regular work or services provided. Examples
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F.I.R.E. (Financial Independence Retire Early) is a movement that promotes the idea of achieving financial independence at an early age, often in the range of 30-40 years old, so that one can retire from the traditional workforce and pursue their own interests, hobbies, and passions. The basic idea behind the FIRE movement is to save
Financial needs are the essential expenses that are necessary for you to maintain your basic standard of living. These are expenses that are necessary for your physical and financial well-being, and they typically include things like housing, food, transportation, and healthcare. On the other hand, financial wants are non-essential expenses that provide additional comfort, convenience,
Needs versus Wants… Read More »
Sure, here is a basic financial information blog: Financial Literacy 101: Financial literacy is the ability to understand and effectively manage your personal financial situation. This includes understanding and making informed decisions about financial products and services, creating and adhering to a budget, planning for the future, and protecting your financial well-being. Budgeting: Budgeting is
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