90 Days to Financial Stability

If you have done ANY research into finances, you know that many financial gurus will tell you to start saving money and a system many use is 50/30/20. 50% of your income goes to essentials such as rent, transportation, food etc; 30% to lifestyle choices such as cable, dining out, entertainment and 20% to savings. But what if you can't save that 20%? What if you just don't make enough to make ends meet never mind saving money?! It can be scary and so disheartening to feel as if you are never going to be financially secure because you can't afford to save that 20%. You can't follow the guidelines of those who know better because your essentials are taking up more than 50% of your income. (Hey, I understand! I live in Vancouver, Canada and it is an expensive city where rents and other costs just keep increasing.) But here's the good news. Don't despair because it isn't always the amount you save that is important, it is getting into the habit of saving th...

Do you remember how excited you were to get your first credit card? The freedom you suddenly have. The purchasing power. You put a little bit on it here and there and made the minimum payments - maybe a bit more - and pretty soon the card was almost maxed out. Then you get a letter from the lending institution. They are offering to raise your credit limit. That means you will have more money to spend, right? The creditor tells you that it is good to have the extra monies available. You don't have to use it but it is nice to have just in case you have a large purchase to make. Having the extra room on your card will make life so much easier, right? An increased limit on your credit is NOT going to make your life easier. It is not going to be there in case of emergencies. Increased credit limits on credit cards are just going to cause you more stress and get further in debt. I know, you know and the lending institution knows that you more than likely won't leave...