September, for me, is this odd mix of ends and beginnings; the summer draws to a close, fall colours begin to come out shepparding in the fall season. It also marks the switch over to pumpkin spice lattes, and well … pumpkin spice everything (we won’t get into that). It’s also a time for new beginnings for kids starting the new school year along with all the changes that brings. It’s a great time for fresh starts and clean slates. The typical time for resolutions usually is on January 1st, but September makes a good month for it as well. There is a very distinct change about this season that is very abrupt. School starting up marks that change pretty clearly. This year is a little different with the Covid pandemic still ongoing. We’ve had to make some adjustments, but our daughter is back at school, mask and all. She’s Continue Reading
Is there such a thing as good debt?
I am sure that you’ve heard the terms “good debt” and “bad debt”. People use these terms and have great and glorious conversations and debates around them. There is merit to the discussion as maxing out your credit card and struggling to pay it back for years can’t possibly bring any good. But on the other end of the spectrum, using debt to grow your company might be a great use. This is an area that can be very clear or very murky, and it often comes down to circumstance and perspective. What is debt? When you search for the definition of debt, google comes back with the following: Debt – something, typically money, that is owed or due. While debt isn’t always about money, the typical definition in our world is a person who owes an institution or company money. That might be a little clinical sounding, but when Continue Reading
What is an FI Number?
The world of personal finance is filled with all sorts of terms and definitions with the holy grail being financial independence, that magical point where you are not bound to your daily grind. Over the last 30 years, there has been a movement around financial independence called FIRE (Financial Independence, Retire Early), which essentially comes down to being well off enough that you don’t need to work to be able to live a comfortable life (AKA retiring). This is where the FI or Financial Independence number comes in. What is an FI number? The net worth at which the annual growth of that net worth by itself covers your annual expenses. Simply put, when you hit a magic number in your net worth, it will allow you to live off what you have saved up for the remainder of your life. Calculating this number can get complicated if you want Continue Reading