I know that everyone has to go through the stage of learning about money. For some, it is when you are young, for others they don't learn that till much later in life unfortunately. Now I would say I learned about money very early in my life, and I have always had pride in myself that I had a good handle on it. Yet you don't learn to appreciate it fully until you are older and on your own I'd say.
But everyone makes mistakes right? I have definitely made my fair share of financial mistakes on my journey to becoming financially stable. In the last few year,s I have done very well for myself and am on the road to become a millionaire. That being said, I've made some mistakes along the way that got to me where I am. Most of these were made in my late teens, I should have known better...
1) Buying expensive presents for people when I couldn't afford it. Your friends are still going to love you regardless, and if they don't, they aren't true friends. Try and make something yourself or get something in the price range you can afford. It's the effort and thought that people care about.
2) Only making the minimum payment on my credit card. This mistake didn't last very long, but when you just get your credit card at 18, you don't really understand the full concept of borrowing money from the bank. I mean, it's your money on there right? Nope. Now, I don't rarely use my credit card at all, and when I do, I pay it off in full before the payment is due. That's also a great way to keep your credit rating up.
3) Living paycheck to paycheck and relying on credit. I spent money that I didn't have, yet the stress of waiting for the next paycheck is the worst feeling in the world.
4) Saving very little money. This is a big one that I have definitely corrected since then, especially starting this millionaire journey. My savings have doubled since then in only a few months.
5) I never paid attention to my credit rating. Who would have though, your credit rating is pretty important... haha the other day was actually the first time I checked to see what my credit rating was, and to be honest, it was really great for someone my age! I was so impressed with myself, the last few years of being very financially aware and stable have helped that immensely.
Moral of the story, we all learn about finances either early or late, but at the same time, better late than never. I'm on the road to success, and I couldn't be happier.
What are the mistakes you've made if any?
5 reasons to be excited about summer
April 4, 2013
With the spring weather lately, I am getting excited for summer to roll around. There are so many reasons why I prefer summer, and now that I'm starting on this money journey, I love even more.
1) Allows you to clean house - In the summer, for me at least, it allows me to go through my apartment, my stuff, my work and organize and throw things out. Everything needs to be lighter in the summer including your possessions. With the warm weather, it's the perfect opportunity to reorganize and simplify things. I have a lot more motivation to throw stuff away when I'm nice and warm instead of when I freeze being outside for one minute.
2) More cost effective activities - In the summer, there are so many more things to do outside. I actually save a ton of money in the summer, because instead of snowboarding, going for dinner and going to movies; I go for walks, enjoy festivals, go biking and pretty much all outdoor activities that cost little to nothing. One of my favourite things to do is get a camera and go for a walk. Photography is a little passion of mine, and you'd be surprised what you can catch on film while enjoying the outdoors and fresh air.
3) Less energy - If you own a house or rent a place, you know that especially in Canada, your power bills sky rocket in the winter. Obviously because we have to deal with -30 degree weather. Power and gas bills go down a ton in the summer, and I love it!
4) Gardening - There are so many great herbs and vegetables that you can grow, that will cut down your groceries bill in half! I currently live in an apartment, SO I'm not really taking my own advice. But one thing I'm so excited for when I own a house, is my garden. I can't stand plants indoors, but love plants outdoors! Bring on the healthy veggies!
5) Air travel - It's well known, especially in Canada, that flights are more expensive in winter because that is when everyone is trying to go away on a tropical vacation. Yes, winter is when people want to go away more, but in you choose to go in the summer, you will get more bang for your buck in terms of air flights and accommodations.
Summer brings so many wonderful things, and I can't wait for summer 2013! It's not long for us, so we have to enjoy it while we can!
-->
1) Allows you to clean house - In the summer, for me at least, it allows me to go through my apartment, my stuff, my work and organize and throw things out. Everything needs to be lighter in the summer including your possessions. With the warm weather, it's the perfect opportunity to reorganize and simplify things. I have a lot more motivation to throw stuff away when I'm nice and warm instead of when I freeze being outside for one minute.
2) More cost effective activities - In the summer, there are so many more things to do outside. I actually save a ton of money in the summer, because instead of snowboarding, going for dinner and going to movies; I go for walks, enjoy festivals, go biking and pretty much all outdoor activities that cost little to nothing. One of my favourite things to do is get a camera and go for a walk. Photography is a little passion of mine, and you'd be surprised what you can catch on film while enjoying the outdoors and fresh air.
3) Less energy - If you own a house or rent a place, you know that especially in Canada, your power bills sky rocket in the winter. Obviously because we have to deal with -30 degree weather. Power and gas bills go down a ton in the summer, and I love it!
4) Gardening - There are so many great herbs and vegetables that you can grow, that will cut down your groceries bill in half! I currently live in an apartment, SO I'm not really taking my own advice. But one thing I'm so excited for when I own a house, is my garden. I can't stand plants indoors, but love plants outdoors! Bring on the healthy veggies!
5) Air travel - It's well known, especially in Canada, that flights are more expensive in winter because that is when everyone is trying to go away on a tropical vacation. Yes, winter is when people want to go away more, but in you choose to go in the summer, you will get more bang for your buck in terms of air flights and accommodations.
Summer brings so many wonderful things, and I can't wait for summer 2013! It's not long for us, so we have to enjoy it while we can!
-->
To bike, or not to bike: that is the question
March 31, 2013
Since spring has finally sprung here in my hometown, I have been itching to get outside. I already love running, and I can't wait to do that and prep for my 2nd half marathon in September. But lately, I have been wanting to bike. I live very close to trails and within biking distance of all major shopping areas. Yet, I'm unsure if this will be a worth while expense for me. Bikes can definitely be expensive depending on what you get.
Because of my job(s), I have to drive. That is something that I can't change, but I'm still struggling with the pros and cons of this expense, should I decide to purchase a bike.
Luckily, there are some cheap bikes out there. I could probably get a decent one that will get the job done for $300-$400 without any bells or whistles. I have also seen many very expensive bikes ranging from $2000+ which is just ridiculous in my mind, unless that is your primary mode of transportation or you are a professional rider or something.
The 2nd issue I am faced with is if I will even use it that much to make it worth while. I know I SAY I will, but things always change and I'm worried that it will just go to waste. I mean, we don't have a very long summer as it is.
We will have to see. I'll definitely have to budget for one, and If I end up scoring a great deal, I will let you all know!
Because of my job(s), I have to drive. That is something that I can't change, but I'm still struggling with the pros and cons of this expense, should I decide to purchase a bike.
Luckily, there are some cheap bikes out there. I could probably get a decent one that will get the job done for $300-$400 without any bells or whistles. I have also seen many very expensive bikes ranging from $2000+ which is just ridiculous in my mind, unless that is your primary mode of transportation or you are a professional rider or something.
The 2nd issue I am faced with is if I will even use it that much to make it worth while. I know I SAY I will, but things always change and I'm worried that it will just go to waste. I mean, we don't have a very long summer as it is.
We will have to see. I'll definitely have to budget for one, and If I end up scoring a great deal, I will let you all know!
Subscribe to:
Posts
(
Atom
)
