First impressions are indeed deceiving. A dear friend recently lost his father at age 87. My friend and his family lived in a modest home; his father drove a modest car, he dressed modestly and he was quiet and reserved. He was the kind of person who, if you saw him walking down the street, you would not give him a second thought. Throughout my childhood I never asked my friend what his father did for a living. I only naively assumed that his father had an office job. This is what I discovered about my friend’s father...Read More
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I must admit that I only started thinking about my financial future about ten years ago. Until that time I lacked the education and knowledge to know what I did not know. I figured that I did not know what the future holds, therefore why bother preparing for it. I took this as a license to spend. Today is the only moment that matters. If tomorrow comes, well, then I will deal with it. I soon realized that even if I did not know what the future holds, I had to sacrifice some accesses now for that security later...Read More
Financial equity in a marriage is essential. When two people are fully committed to each other they often take the right steps to merge their financial situations.
Very few couples enter into a financial relationship with the exact same amount of money and the exact same amount of income and the same debt level, so such inequalities seem natural. The problem is that these inequalities can be damaging to the relationship over the long run. In order to avoid a sense of “mine” and “yours” You have “your” debts, I have “my” bigger income, your best plan is to stop this before it starts and establish a financially equal relationship right off the bat...Read More
This week I visited my bank for my annual “financial check up”. Among the many conversations with the personal banker, we somehow went down the road of discussing credit scores or beacon scores. What I quickly realised was that when I asked questions on how to improve or maintain a good credit score, the explanation became quite fuzzy. The personal banking officer was unable to tell me exactly how to maintain a good credit score because the precise formula for calculating it is a trade secret, but there are some tactics that will work to raise your score....Read More
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