Hobbies Can Make or Break You

I think that one important that can make or break you, at least financially, are your hobbies. There are many types of hobbies, some of which range from the expensive, for example traveling, to free ones such as jogging, reading or blogging. There are also some hobbies that can even help us make money by using some of the information acquired with our interest in the topic, for example investing.

Is Retiring a Millionaire Just a Dream?

Is being a millionaire an almost impossible dream? In reality, most of us are going to need at least that magical seven digits in order to retire comfortably. It's a self-fulfilling prophecy at times, thinking at it is too large a sum basically convinces us not to even try. But then, is it really that hard to reach the seven-digits? I'll break down the numbers in this post into annual, monthly and daily savings that we will have to start in order to reach it, to prove that it's not so impossible for most of us.

4 Quadrants of Money Management

I was thinking about Stephen Covey's 4 quadrants of time management, which I read in his book 7 Habits of Highly Effective People. I think that this is not only applicable to managing our time but can also be used in managing our money as well.

(Image source: http://czarto.com/2012/04/24/four-quadrants-of-time/)

5 Ways to Start Building your Emergency Fund

This is a continuation from my first post on What is an Emergency Fund and Why You Should Have One. This post is going to show you some tips and ideas on how you can start to build your emergency fund if you have yet to do so

(Image source: http://www.inc.com/magazine/201405/alexa-von-tobel/need-for-freedom-fund-savings-living-expenses.html)

Advice on Spending Your Money in Your 20s-30s

Just an observation from Google Analytics, most of my viewers are between the ages of 25-34 (>40%) based on the over 50% of session recorded (and also predominantly, >75%, male, but that's beside the point). So, I've decided to write a post on some ideas and advice by others on how to spend your money in your 20s and 30s, hope this will be helpful to you.

Saving - More Money Through the Door

This is the second part of the Saving, where I will cover ways to help increase the amount you can save. In the previous part, which can be found here, I covered how to start cutting down on your expenses first by recording them then analyzing and removing those unnecessary ones.

This second part will sum up the Chinese phrase "开源节流", which means to increase income and cut down expenses. So cutting down expenses has been settled now let's go into some ways in which you can start increasing your income

Saving - Start knowing where your money goes

This is one part of Saving where I will cover some of the changes you can make to start increasing the amount of money you can save which would be the first step in your investing journey, the next part on increasing your income can be found here.

Whether you decide to use a budgeting app or write them on excel or just use a good old-fashioned notebook, keeping track of where your money goes is one of the first steps to starting to save. By knowing where your money is disappearing each month, we would know which are the areas that we can cut down our spending on or avoid completely.

For this, I usually like to group my expenses into 4 groups : Subscriptions, living expenses, enhancements and others