marksdailydollar

Basic Guide to Budgets

Read this first. Doing a household budget is essentially Grade 2 math. Take what you bring in and subtract what goes out. There are many apps and programs to do this: EveryDollar, YNAB, and Mint are the more popular ones, but I recommend starting with paper, moving to Excel then an app if you reallyContinue reading “Basic Guide to Budgets”

Don’t Go Chasing Windfalls

People have been asking me lately what to do if you get an unexpected pile of cash. Legal settlements, inheritances, lottery winnings (ha!) or just finding a toonie on the sidewalk. Should you pay off debt? Put it on the house? Invest in cryptocurrencies? For most, any large lump sum of money is probably theContinue reading “Don’t Go Chasing Windfalls”

Debt Elimination Case Study

How to Get Out of a Mess Note: The following is real life example, name have been changed. Joe and Jane make $75000 per year, have 2 kids and 1 on the way. Jane is not working right now but plans to go back after maternity leave, and bring home an additional $1000 per month.Continue reading “Debt Elimination Case Study”

Barbell Strength Training and Personal Finance

I cranked up the meager heater in the garage gym, did some empty bar squats and started adding plates. As I unracked the bar for the first work set, Mark Rippetoe’s words from the Starting Strength seminar in Witchita Falls rang out: “get your knees forward and stop exaggerating pushing them out trying to beContinue reading “Barbell Strength Training and Personal Finance”

Does Money Buy Happiness?

“Whoever said money can’t solve your problems must not have had enough money to solve ‘em…” Ariana Grande Can money buy happiness? In short, yes it can. Don’t look at happiness as buying more stuff, that’s a fairly immature way thinking. How many items have you bought over the course of your life that wereContinue reading “Does Money Buy Happiness?”

Getting Started

Hi everyone. Did you know that the average household income in Canada is about $70,000 per year? If you are reading this right now, chances are your household is above that so why do most people feel broke and live paycheck to paycheck? Not being on the same page with your spouse, trying to impressContinue reading “Getting Started”

Financial Advisors

What to Look for When Choosing a Financial Advisor It’s Your Money The first thing to remember about choosing a financial advisor is that YOU are the boss and they work FOR you. You are in charge of your finances and your future. The advisor is there to arm you with enough information to arriveContinue reading “Financial Advisors”

Coronapocolypse

Practical Advice for the Current Situation Ok so it happened. Something we couldn’t have predicted occurred and is having far reaching economic impacts on people in a big way. As a refresher here’s the steps I recommend taking to get out of debt and take control of your personal finance: Change your mindset. WhatContinue reading “Coronapocolypse”

But Bro, I Know the Guy…

Vehicles “My car kept breaking down and I had no other choice but to get a new one, but it’s better on gas so I’ll be saving in the long run.” Let’s deconstruct this common sentiment. “My car kept breaking down…” Every vehicle will break down at some point regardless of price, that’s aContinue reading “But Bro, I Know the Guy…”

Legal Loan Sharks

You have to have a credit card right? Maybe not. Like I mentioned previously, the credit card is one of the most marketed consumer products in history. Look at the skyline of any major city and you’ll most likely see at least one building with a Visa logo. Why do you use a creditContinue reading “Legal Loan Sharks”