Tuesday, 17 October 2017

What happens when you start thinking about money

Hi All,
I started this blog in 2016. Before that, hubs and I were working and just paying bills. We were putting little bit of money for the future. That part was all done by professionals. We just listened to an "expert" and started a putting money in to some sort of mutual funds. We were not paying any attention to the fees or growth of investments. The bills were getting paid and food was on the table. We were not accumulating any debts though. 

Then my hubs company started downsizing. and he lost job. Our family became a real lower income one for three months.(I was working only part-time then) It was the real eye opener for us. I started working out more. But money was still tight. We needed to make big changes.

While searching for frugal ideas, I came across Mustachian Principles. Discovered the all idea of FIRE, DIY investments etc. So, last year, I started taking care of our investments. 

When hubs got a new job, we didn't changed the life style. Every month, I put money in to our RRSPs and TFSAs.

 At first, I was thinking of stock investment as "buy low and sell high" only. I didn't know anything about passive income and side hustling at all. Thanks to all the FIRE bloggers out there: I learned all those things in a short time. I started investing on ETFs as the Canadian Couch Potato mentioned. 

But, my investments are with one of the big banks. So, each stock purchase costs money. Some financial bloggers were talking about DRIPing. The bank helped with the dividend re-investing program. 


Later I started more in to dividend investing: Thanks to My Own Advisor. He shared a blog post with his idea of making his own ETF by choosing stocks by himself. 

With all this knowledge, I began to see my job through new glasses. It is no longer the work I have to do, but it is a source of income! That also means I started looking at my job as my business. The employer is my client. As a result, I got pay rises. So, I got more confident in myself. With that, I demanded better treatment and better pay from my work places. My hourly wages has gone up over $6 comparing to 2015. As a result, I have more money to save and invest comparing to last year. 

Since the income went up, I asked my mortgage company to increase my mortgage payments. That way, the debt will be paid off faster. 

When I started thinking about money, my cash flow went up. Life became more enjoyable and richer. 

What happened to you when you started thinking about money? Please share in the comments.

2 comments:

  1. Around 5 years before I retired I created a Five Year Plan. I promised myself that if I was successful with my Five Year Plan then I could retire 2 years early. I was, and I did :) When you consciously think about money, like you do, like I did, then amazing things can happen!

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    Replies
    1. Nice to know that you were able to retire early. I can see that you are enjoying your life to the fullest from your blog. Great job Jane!

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