By Laura J. McDonald, Susan L. Misner

From the founders of GoldenGirlFinance.ca comes a brand new publication on how you can get your monetary condominium so as and revel in the liberty and happiness that incorporates a safe monetary destiny. In 10 how you can remain Broke. . . ceaselessly, you'll research why concentrating on residing good now could be often a route to poverty later. you have got a brand new motor vehicle, a gorgeous condominium, and a dresser to die for, yet you're shortchanging your self when you haven't begun saving and making an investment for retirement.

In 10 how you can remain Broke . . . endlessly, own finance professionals Laura McDonald and Susan Misner aid you commence making plans for the next day to come this present day. With basic assistance and instantly speak about funds, they clarify the issues ladies do to stick broke and what you have to do instead.

From the founders of GoldenGirlFinance.ca, the prime own finance web site for Canadian women
Written in an enticing, gaining access to, and conversational sort that takes the phobia out of the complicated international of finance
Features functional, actionable suggestion for taking keep an eye on of your own funds with real-life examples and convenient tools
Having funds on your pocket is a brilliant feeling. yet there's not more notable feeling than monetary safeguard. Having cash within the financial institution capacity having strength, hazard, and opportunity—and not anything feels higher than that!

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Extra info for 10 Ways to Stay Broke...Forever: Why Be Rich When You Can Have This Much Fun

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About a third of Canadians are Revolvers, according to Canadian Bankers Association data. · The Defaulters. When Revolvers lose control or an unforeseen crisis happens and they can’t go on revolving anymore, they may become Defaulters. There are also less-than-honest people who willingly sign up for credit, sometimes fraudulently, with every intention of defaulting. The reason credit card companies charge such high fees and interest rates is because of the level of risk they take—trusting us to use their cards and then pay them the money we owe.

Indd 39 21/02/13 11:59 AM 40 10 Ways to Stay Broke . . Forever means actually having the money to pay for those items (and, as a bonus, earn a sweet reward for doing so). ), but they do need to be used responsibly. ” GOLDEN RULE: DID YOU FALL FOR A TEASE? 9 per cent for 12 months? Assuming both would jump to a permanent 16 per cent interest rate after the introductory phase, which card would you choose? 9 per cent—which makes sense, right? It sounds like a better deal. However, it’s only a better deal if your balance is paid off within the first six months.

Once you’ve totalled everything up, simply take the value of your assets and subtract the value of your liabilities. Do you get a negative number or a positive number? Ideally, you want this number to be positive. Don’t panic if your net worth is negative. Many people who have recently bought a house and are in the early stages of paying off a giant mortgage have a negative net worth. Your goal is to gradually move this number into positive territory. Keep making those payments and check your net worth again in six months’ time, or annually.

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