saving (4)

Cost Cutting Tips


Here is some great tips to consider. It is interesting how the numbers add up.


one culprit is the famous Starbucks. 


Enjoy this parody 






"And your savings is ...
If you eliminated all of these costs, you would save $5,978.75 in just one year. That’s a lot of money to add back into your budget. But if you invested that money every year and earned 5 percent annually, you’d see even bigger long-term benefits.
After 10 years: $72,958
After 20 years: $165,667
After 35 years: $366,331
Even more impressive is how far that money can go in retirement. The OnTrajectory calculator shows that if you stopped investing money into your retirement fund at the $366,331 mark, and then withdrew 4 percent of your balance annually to help cover living costs, you’d still have a little more than $300,000 left by the age of 90. It might seem hard to believe, but that’s the power of compound interest."


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Dragon & Shark Tips on Saving

1. Ditch the plastic

2. Watch your spending

"Be a smart shopper," Cuban tells CNBC Make It.

"You will quickly find that the greatest rate of return you will earn is on your own personal spending," he writes on his blog.

3. Put your money to work

All that money you didn't spend? "Once you have at least six months salary saved, put what you have saved to work, get it invested

Check out Kevin's video on coffee! 

Now when I was at Quick Books Connect in Dec in Toronto, Bruce was one of our guest speakers, I was one of the last to get a picture with him and I was not on the list, now Bruce was a gentleman and waved me over, as the QB Team clicked for us, he said, I seen you in the front row while I was presenting and he thought to himself, there must be a story behind that beard, they don't grow overnight, I assured him there was and perhaps I would be able to share it with him someday. ~ TLR 

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Budgeting Tools - Personal Finances

Digitizing Your Money

Came across a neat video from Telus and there was some real great tips in it. One item caught my eye and it dealt with budgeting.

Stephen recommended a couple online tools.  The first  was You Need A Budget, it cost $83.99 USD a year , they give the average per month, it's unfortunate that they don't simply charge monthly, it would be a better business model in my mind.

Check out the 4 rules

1. Give Every Dollar A Job

2. Embrace Your True Expenses

3. Roll With The Punches

4. Age Your Money

Money Coaching , great idea, a couple hundred dollars a month for coaching, buy the book option as well, some great blogs and tips

I had some thoughts about the video, about digitizing money and specifically that you don't need to pay fee's section of the video, see below, no guarantee that they will not hid my thoughts. Interestingly they had 47,716 views of the video but only 3 comments over the last 5 days, and I was the third, so what does that mean ? I don't know, just an observation.

Timothy Ross 1 second ago Nov 28 2017 6:30pm

Great video series, love the flow and the encouragement in them, they touch on a lot of great stuff, however the negative side is it discredits the value that a good financial advisor brings to the equation, it's not just about the numbers. Some of the claims in the video's are not really true, they are frankly and needlessly shaded,. The premise that the index is an exact mirror is simply not true, the cost of the ETF's that are ultimately being promoted if you did a little deeper are around  .15%  for expenses and the management fee is .40% , so total is .55 % MER as per one of the ETF's being promoted. Not sure why they don't just say it will be .55% or some range , less that the market every time is interesting. Yes human's make errors, but robots never make error's and markets are very rational, so there is a few parts to the equation that you got to take with a grain of salt, the realty is human's the people investing will make errors when markets fall and the robot is not going to cut it, you need an advisor to help you from making big mistakes.  The websites are beautiful, flow nicely, very slick and inviting. The purpose of the video series is probably to promote robo-advisors, etf funds , sell books for the speaker, get some money coaching from a fee for service advisor program,  Telus is maybe even getting a small participation fee. All of which is ok, just figured they would be more straight forward about it. Again, love encouragement of people to get started and to do it, just be more straightforward and don't bash those that work hard to serve their clients and communities. IMHO    Tim Ross #ImprovingFutures

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