A couple we’ll call Harry, 35, and Tina, 37, are thriving in their careers. Harry, a geologist with a large company, brings home $5,730 a month. Tina, a management consultant in the chemical industry, adds $3,880, for total monthly disposable income of $9,610 a month. They have a two-year-old child.
When I tell people that their retirement income target may not be as high as they thought, a common response is, “Yeah, well what about long-term care?” Everyone has an anecdote, perhaps involving an aunt or the parent of a friend, who needed extensive, round-the-clock care at the end of
In response to my recent post about splitting expenses with friends, one commenter wrote that there is a fine line between cheap and frugal. I happen to agree. For example, when dining in a group, I recommend that each individual calculate tax and tip based on what they ordered, but
Sometimes folks say they want something, but then do things that totally work against them achieving their goal. Home ownership is a perfect example. I get letters every week from people who say they want to own their own homes. They can even paint a pretty clear picture of what
I don’t try to hide the fact that we used to be pretty sucky with our finances. Although we never let things get too out of hand, I finally accept the fact that we used to waste most of our income. We bought stuff. We went on trips. If we didn’t have
Ever notice how sometimes when you go shopping for one thing, you end up bringing home four or five other things? How many times have you heard, “I only came in for…” at the check-out? Stanford University did some studies about how shopping can lead to more shopping. It seems
Goodbye Christmas!!! (Thank God!) Hello Snowpocalypse 2012!!! As you may have heard, we here in the Midwest took a fierce body punch from one of the first major winter storms of the season. We were covered with about about 10 inches of snow a few days ago. For those of
I hate to be the one to break it to you, but making a lot of money does not guarantee that you will have financial success. Of course, it could mean that you reach financial greatness. It is possible that you make enough money so that all of your dreams
Almost half of Canadians live paycheque to paycheque, a new survey has found. But that number is down from last year. According to a Canadian Payroll Association poll, 47% of Canadians live payday to payday in 2012, reporting they would struggle if their paycheque was delayed by even one week.
At a time when we were really watching our pennies, my husband and I decided to use an old-school trick for budgeting to stop us from frittering our money away. I wasn’t sure exactly how much money we actually spent week to week — we were in the habit of