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CDCGML 2013-14


canuck2xtreme

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/ Oh... And learn to budget your money and cook your own food. Those are two of the most important skills you could acquire.

Brilliant advice! Being able to cook your own simple dishes is amazing...and you build on 7 or 8 recipes from scratch to be able to cook a months worth of meals without a single repeat dish. Lifeskill number 1.

Lifeskill number 2: it took me until age 35 to truly learn to budget my money. Now at 41, with a few minutes a day and a Google Docs spreadsheet I know exactly what money is coming in, and what money is going out for every payday in the household through December 31st 2014...with rough sketch estimates for the next 3 years on a separate tab. Since I started doing it that way we have managed to save and grow our money, but for the first 35 years of life I just managed to make it from paycheck to paycheck.

My best friends Dads advice from 1990 about money:

You need three basic facts to be true in order to be successful financially:

number 1, your housing (mortgage or rent) needs to be 25% of your income or less

number 2, you must take 10% of your pay every pay and put it away in a savings account no matter how hard it is

number 3, once you do number 2 long enough you must maintain 6 months full wages in savings as your emergency fund but keep adding 10% of your pay to your investments

1,2,3 Congrats, your financially successful.

Oh and that best buddies dad...he retired about a decade later in his 50's. Spends half his year in the lower states and half in Canada...and a lot of time in Vegas and Mexico...lol. I like his model.

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