Category: Personal Finance
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Don’t waste your money on expensive wine
My wine budget allows me to buy wines that cost between $10 CAN to $15 CAN. I never spend more than that. I bring them to house parties where some of the better off people bring wines that costs about $50 CAN. No one can tell the difference. No one can tell which which wine…
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We can help the planet and reduce inflation by consuming less
When I came to Canada, as an immigrant, I had very little money. I struggled to pay for rent, food, and tuition and at that time I learned to be frugal and to ask myself if every item I bought was a want or a need. Now, after 22 23 years in Canada, I am…
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How to benefit from global income inequality
We are so lucky to earn money in Canadian and US Dollars. When I go to my country and spend my money in Colombian Pesos, I get a lot of value for my money. My mother is spending her retirement years in Colombia because she can spend her money on things that would be prohibitively…
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How the Sequence of Return Risk spoiled my retirement plans
At the end of 2021 I thought I had enough money to retire, and then the market collapsed. In six months the S&P 500 tumbled about 16%. My retirement plans were scrapped. Luckily for me, I like working and I just continued working so there was not a big change in life, but something that…
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How to Increase your Wealth by Reducing your Expenses
If you are trying to lose weight you know that a box of doughnuts is not good for you. Just as well, if you are trying to cut your expenses, there are many expenses you can reduce without affecting your quality of life. Be ruthless! Here is a list of suggestions: Other personal finance blog…
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Should you lend money to a family member?
Last year, my mother asked me for a loan. “Why is she asking me for a loan?” I asked myself. “Is she in a difficult financial situation?” To this day, she hasn’t told me. We live in different countries, and she is not always forthcoming. It turns out that she wanted the money for a…