Blog

Feb 25

Financial lingo you need to know

Here’s a list of common financial lingo you probably already know: Spreadsheet Forecast Cash-flow Debt repayment Surplus Retirement savings Unexpected expenses Equally as important, but not as well known, here’s a list of “uncommon” financial lingo: I have the power to change. I can. I will. I’m in charge today. I’m happy with what I got. I’m not going to compare myself with others. I deserve financial control. If you wanna take charge of your money, you have to understand the “uncommon” lingo in your heart. Your finances are dependant on it. It’s that simple. Now it’s your turn… What kinda financial lingo do you tell yourself? What would you like to change it to? Tell me in the comments below. I’m curious.

Feb 18

3 steps to become a financial master

Does “taking control of your finances” sound impossible to you? Sure, you might be able to budget for a week or two, but after that, fuhgeddaboudit. C’mon, you’ll never stick to a budget. Right? Does that sound familiar? Listen carefully; you should know, it IS possible for you to master your money, once and for all. Lucky for you, I have an ancient secret that’ll give you Lance-Armstrong-like endurance for budgeting. (No steroids needed.  I promise.) 💪 💪 💪 What’s the secret? The secret to money-mastery is in the Japanese concept: ShuHaRi. Initially, a martial art approach, ShuHaRi represents the three stages of learning (Shu, Ha, and Ri) that transforms a person from being a novice to a master. (Interestingly, in Japan they don’t talk about “ShuHaRi.” It’s just the way they’ve been learning for hundreds of years.) In a nutshell, here’s how it works: Step 1: Shu (obey) – In the beginning, you seek out a mentor. Mimic their methodologies — following directions to a tee. Just think of “wax on, wax off” in the Karate Kid. Step 2: Ha (digress) – Once you got the basics down cold, you start to branch out and collect other techniques from other mentors. […]

Feb 12

3 ways to save money — without cutting coupons

I’m not a coupon cutter — and probably will never be one. My wife, Yael, on the other hand, is the complete opposite. She always knows where to save 0.50¢ on English Cucumbers and a buck off a box of Cheerios. Yael is what I call a “micro-saver.” Don’t get me wrong; I think coupons and price matching are fantastic. I just wasn’t built like that. I’m more of a “macro-saver” (versus a “micro-saver”). In other words, I look at big ways to save money that don’t take a lot of time. And if you’re a macro-saver like me, today’s your lucky day. Below, I’ve put together my top 3 macro-saving tips, which could put thousands of dollars back into your wallet — without cutting a single coupon. 😉 Tip #1 ThriftBooks.com Thriftbooks connects you to discount wholesalers that’ll sell you a new or used book for a fraction of the retail price. Take Malcolm Gladwell’s, The Tipping Point, for example. In hardcover, Barnes and Nobels sell it for $18.98. At Thriftbooks, it’s $4.59 for a *like-new copy. (* My experience of like-new is that it’s really “like-new.”) In other words, you can buy four books for the price of […]

Feb 05

What I really believe in…

I believe: People can change. A rut is a temporary place to get you to the next level. Spouses can work together as a team. It’s never too late. Urgency makes things happen. Opening up is healthy. Not making a decision is making a decision. Taking control takes guts. Knowing is half of the battle. The other half is doing. and most importantly… You can nail this financial thing. What do you believe? Tell me in the comments below…

Jan 25

The REAL reason why your finances are tankin’

My receptionist, Jessie, one time mistakenly filled up her sister’s car with diesel instead of gas. (If you’re thinking diesel nozzles are designed to be oversized compared to gas — you’re right.  She said she had to really “jam it in there.”) After she drove off, the engine light came on, and the whole car seized up — followed by a tow truck and a big repair bill.  Apparently, using diesel in a car that takes gasoline can ruin a lot of expensive parts. Likewise, we (us humans) also have “tanks.” Not for gas or diesel, per say, but rather for things like love, knowledge, family, friends, career, and spirituality. When one of those “tanks” get’s empty it’s important that we fill it up with the right fuel, kinda like Jesse’s gas tank: The love tank needs to be filled with love, career tank with career stuff, and so on. If the right fuel is in the right tank, our lives run smoothly, we feel “balanced” and “in control.” But when we fill up on the wrong stuff, in the wrong tank, our lives start to break-down. I know about this first hand. Regularly, I used to put friends in […]

Jul 09

How to Budget When You Have ADHD

Quick Intro:  This article was co-written by June Silny (ADHD Coach) and me.  The story is hers, and the humour is mine.  Hope you enjoy ;). For most people, budgeting is tough. And having ADHD makes it even tougher. Believe me, I know all about it — I have ADHD, and in the past, a slew of financial problems.  I drove on bald tires because I couldn’t buy new ones.  At Trader Joe’s, I had to unload the Shreddies and salsa I couldn’t afford. And because of my money blunders, every month I’d overdraw my bank account, rack up the penalty fees, and feel miserable about myself. It’s terrible when you don’t have money.  Oddly enough, you get used to it. Paycheck to paycheck living becomes the new norm. That’s when you know that you’ve hit rock bottom. But there’s good news. Imagine paying your bills on schedule, not overdrawing your bank account, and having lots of money left over.  And no, you won’t have to eat bean burritos at Taco Bell for the rest of your life.   Sounds unimaginable, right?  Let me tell you, it’s easier than you think. THE MAGICAL SOLUTION Recently, I came across a free […]

Jun 25

3 Reasons Why You SHOULDN’T Cut Up Your Credit Cards

For years I thought about cutting up my credit cards. In the past, I always had six months of unopened credit card bills piled up on my kitchen table — I couldn’t even look at them.  Chugging 6 cups of green juice seemed easier to stomach then opening those envelopes.  I’m glad those debt-ridden days are a thing of the past. Fast forward to today.  I’ve paid off all my balances in full.  Yup, in full.  And I did it without cutting up my credit cards.  Did I freeze them in a block of ice?  Nope, I use them every chance I get — I’d even whip out my Visa for a piece of Bazooka gum if I could. I believe that you can pay off all your debt and still keep swiping your credit cards too. Here are three good reasons why you should hold off putting your plastic on the chopping block: Reason #1 –  Credit cards aren’t really the problem I used to curse out credit card companies all the time.  And it felt good — especially if it was followed with a fist-pump from a buddy. But deep down I knew that my credit cards weren’t […]

May 09

4 Ways to Knock Out Debt

I wasn’t built be a professional wrestler.  Not like my high school buddy Anthony — aka “Santino Marella” — who become the WWE Intercontinental Champion.   He’s like a brick wall and I’m just a skinny guy with a big beard.  He bodyslams 300-pound men and I couldn’t hurt a fly.  But we have one thing in common:  We both know how to knock out our opponents.   His is Hulk Hogan. Mine is debt — and debt is scarier than the Hulkster ;). So here are four strategies that will help you knock out your debt. Strategy #1:  Erase Negative Thinking and Get into the Ring Just like a professional fighter, beating debt requires the right mindset. If you think negatively and say stuff like “I can’t do this. I’ll never get my Visa to a zero balance.” — you’re right, you’ll probably never pay off your debt. But if you train your mind to think like a coach, and focus on the positive and what you can do, then you’ll have the guts to get into the ring. Don’t be overcome by the massive size of your opponent. Debt is only as scary as you make it.  Find […]

Mar 02

3 Steps to Get Over Financial Regrets

Have you ever opened your credit card statement and felt like you really messed up again?  My hand’s raised ;).  Those feelings of regret can become overwhelming.  Even paralyzing. I know about regrets first hand.  Take my Pink Floyd box set I got when I was 16.  Bought it, loved it, couldn’t afford it — and regretted it. You can swap “Pink Floyd box set” for “fancy dinners” or “skis” or “sports car” — all of those I regretted too. There’s one thing that all these “financial regrets” have in common — that sinking feeling that I will never change. But when harnessed the right way, regrets can be healthy. Seth Godin put it best when he said: “If regrets about yesterday’s decisions and actions help you do better work today, then they’ve served a useful purpose.” I’ve put together 3 steps that will help you move past your financial regrets and take action. Step 1:  Forgive Yourself   Sometimes the hardest person to forgive is yourself. Like my eight week sugar-free streak that was over when a Snickers bar mysteriously ended up in my throat. Okay, it wasn’t so “mysterious.” Next thing you know I was wolfing down Doritos […]

Nov 28

What’s the best way to pay debt off? The answer might surprise you…

If I gave you $500 a month to put towards your debt, what’s the best way to use it? Should you chisel away at the debts with highest interest rate? Or knock off the smaller ones first? I’m going to take you through two strategies to tackle your debt – Debt Avalanche vs Debt Snowball — and I’ll show you which one works best.  The answer might surprise you. Method #1 – Debt Avalanche This strategy prioritizes paying off your debts from highest to lowest interest rates in order to minimize the amount of interest you pay. Here’s how it works: Step 1:  Make minimum payments on all your debts Step 2:  Allocate all extra money to the debt with the highest interest rate Step 3:  Once that debt is completely paid off, focus on paying off the debt with the next highest interest rate Step 4:  Repeat until debt-free Let me give you a real-life example. Imagine these are your debts: $12,000 line of credit at 4.99% $8,000 owing on Amex at 19.99% $3,000 owing on Visa at 8.75% According to the Debt Avalanche method here’s how you should prioritize where you put your extra $500 of income: Priority […]