“Welcome to the PlanEasy blog! We make personal finance easy.

Thanks for visiting.”

 

– Owen

5 Hidden Ways To Save Money

5 Hidden Ways To Save Money

Whoever invented the ‘latte factor’ or ‘avocado toast’ created a very skewed sense of how to save money. Saving money by cutting back on coffee, restaurants, going out, vacations etc are very difficult ways to save.

They’re difficult because they’re very visible and often very social occasions… plus they’re a lot of fun, so why cut back there?

Hidden ways to save, on the other hand, are the best ways to save. Saving money on things that no one sees, or cares about, makes it easy to save.

This is the secrete to saving money, save money where no one notices.

What someone considers a “hidden way to save” will be different from person to person. Some people really care about certain things, it all depends on what they value. Maybe they really value the car they drive, the house they live in, or only eating free range/grass fed/organic foods, but for many of us these are easy ways to save money, if you do it right.

These are five hidden ways to save money. No needs to know how much you pay for these monthly expenses and saving money in these area’s can be very easy.

read more
8 Ways The TFSA Could Change In The Future

8 Ways The TFSA Could Change In The Future

When you’re thinking about your financial future it’s important to consider risk. There are your typical risks, like the risk of losing money with investments, the risk of passing away unexpectedly, or the risk of not being able to work for an extended period of time. These are all common risks we need to plan for.

But there are also other risks too, ones that many of us might not include in our plans. These risks are less common, more speculative, but can be just as damaging. Risks like changes to government benefits, increasing tax rates, or changes to tax-advantaged accounts like the RRSP and the TFSA.

Based on age alone, the TFSA is relatively young, it’s barely entering the double digits. Although it was only introduced in 2009 it has already experienced a few dramatic changes during that time.

Anticipating changes to tax-advantaged accounts is an important part of any financial plan. A good plan should have enough room to absorb a few of these unexpected changes without causing major stress.

To ensure your plan is robust you need to anticipate these changes and understand how they might impact your plans.

In this post we’re going to speculate on a few ways that the TFSA could change in the future. This is pure speculation but it’s a good exercise to understand what changes might be possible in the future and how your plan can absorb them if they were to actually happen.

read more
The Step-By-Step Guide To Creating A Budget

The Step-By-Step Guide To Creating A Budget

Budgeting is one of those financial skills that can transform your life. The difference between a solid financial situation and a complete financial disaster can be as little as a few percentage points of your income. Even a few $’s in the right direction, over a long enough period of time, can have amazing results.

The key is to create a budget that works for you and what you value.

Everyone is unique and so is their spending. What I value is different from what you value and our spending will reflect that. Even with the same income, in the same city, we will have vastly different budgets because we value things differently. Making a budget involves understanding those differences and understanding what you value.

It also involves understanding your habits.

Not only do we value things differently, but we also have different experiences. Our spending habits are the result of years and years of experiences with money. Some of these experiences begin at a very young age. The way our parents spend money will impact how we spend money. Sometimes in a good way, sometimes not. Friends, family, coworkers, they all impact our spending habits. You can change habits but fighting too many bad spending habits at one time will lead to budgeting disaster.

It’s good to start slow. Build a budget one step at a time. Practice each step before making your budget more difficult. And if you need help, just ask. Partner up with a friend and hold each other accountable. Or seek out a financial coach to help guide you through the process.

read more
Page 4 of 32...23456...

Owen Winkelmolen

Financial planner, personal finance geek and founder of PlanEasy.

“Welcome to the PlanEasy blog! We make personal finance easy.

Thanks for visiting.”

 

– Owen

Join our online community!

Community members get (free!) access to our budgeting spreadsheet.

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5 Hidden Ways To Save Money

5 Hidden Ways To Save Money

Whoever invented the ‘latte factor’ or ‘avocado toast’ created a very skewed sense of how to save money. Saving money by cutting back on coffee, restaurants, going out, vacations etc are very difficult ways to save.

They’re difficult because they’re very visible and often very social occasions… plus they’re a lot of fun, so why cut back there?

Hidden ways to save, on the other hand, are the best ways to save. Saving money on things that no one sees, or cares about, makes it easy to save.

This is the secrete to saving money, save money where no one notices.

What someone considers a “hidden way to save” will be different from person to person. Some people really care about certain things, it all depends on what they value. Maybe they really value the car they drive, the house they live in, or only eating free range/grass fed/organic foods, but for many of us these are easy ways to save money, if you do it right.

These are five hidden ways to save money. No needs to know how much you pay for these monthly expenses and saving money in these area’s can be very easy.

read more
8 Ways The TFSA Could Change In The Future

8 Ways The TFSA Could Change In The Future

When you’re thinking about your financial future it’s important to consider risk. There are your typical risks, like the risk of losing money with investments, the risk of passing away unexpectedly, or the risk of not being able to work for an extended period of time. These are all common risks we need to plan for.

But there are also other risks too, ones that many of us might not include in our plans. These risks are less common, more speculative, but can be just as damaging. Risks like changes to government benefits, increasing tax rates, or changes to tax-advantaged accounts like the RRSP and the TFSA.

Based on age alone, the TFSA is relatively young, it’s barely entering the double digits. Although it was only introduced in 2009 it has already experienced a few dramatic changes during that time.

Anticipating changes to tax-advantaged accounts is an important part of any financial plan. A good plan should have enough room to absorb a few of these unexpected changes without causing major stress.

To ensure your plan is robust you need to anticipate these changes and understand how they might impact your plans.

In this post we’re going to speculate on a few ways that the TFSA could change in the future. This is pure speculation but it’s a good exercise to understand what changes might be possible in the future and how your plan can absorb them if they were to actually happen.

read more
The Step-By-Step Guide To Creating A Budget

The Step-By-Step Guide To Creating A Budget

Budgeting is one of those financial skills that can transform your life. The difference between a solid financial situation and a complete financial disaster can be as little as a few percentage points of your income. Even a few $’s in the right direction, over a long enough period of time, can have amazing results.

The key is to create a budget that works for you and what you value.

Everyone is unique and so is their spending. What I value is different from what you value and our spending will reflect that. Even with the same income, in the same city, we will have vastly different budgets because we value things differently. Making a budget involves understanding those differences and understanding what you value.

It also involves understanding your habits.

Not only do we value things differently, but we also have different experiences. Our spending habits are the result of years and years of experiences with money. Some of these experiences begin at a very young age. The way our parents spend money will impact how we spend money. Sometimes in a good way, sometimes not. Friends, family, coworkers, they all impact our spending habits. You can change habits but fighting too many bad spending habits at one time will lead to budgeting disaster.

It’s good to start slow. Build a budget one step at a time. Practice each step before making your budget more difficult. And if you need help, just ask. Partner up with a friend and hold each other accountable. Or seek out a financial coach to help guide you through the process.

read more
Page 4 of 32...23456...

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